6099 董事名單與其角色和職能 招商證券股份有限公司（「本公司」）董事會（「董事會」）成員載列如下： 執行董事 霍達先生 （董事長） 朱江濤先生 （總裁） 非執行董事 馬小利先生 獨立非執行董事 葉熒志先生 張瑞君女士 陳欣女士 曹嘯先生 豐金華先生 - 1 - 附註： C： 相關委員會之主席 M： 相關委員會之成員 中國，深圳 2025年12月19日 羅立女士 劉振華先生 李德林先生 李曉霏先生 黃堅先生 張銘文先生 丁璐莎女士 職工代表董事 - 2 - 本公司董事會下設五個委員會。下表載列各委員會成員的資料： 委員會 董事 戰略與可持續 發展委員會 風險管理 委員會 審計委員會 薪酬與考核 委員會 提名委員會 霍達先生 C M 朱江濤先生 M M 羅立女士 M M 劉振華先生 M 李德林先生 M 李曉霏先生 M M 黃堅先生 M 張銘文先生 M M 丁璐莎女士 M M 馬小利先生 葉熒志先生 M C 張瑞君女士 C M 陳欣女士 M M C 曹嘯先生 M M 豐金華先生 M M ...

招商证券股份有限公司 2025 年 12 月 19 日 证券代码：600999 证券简称： 招商证券 编号：2025－054 招商证券股份有限公司 关于选举第八届董事会职工代表董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《中华人民共和国公司法》《上市公司治理准则》《证券公司治理准则》 等法律法规及《招商证券股份有限公司章程》（以下简称《公司章程》）的规定， 招商证券股份有限公司（以下简称公司）第三届职工代表大会选举马小利先生为 第八届董事会职工代表董事。 马小利先生任期自 2025 年 12 月 19 日起，至公司第八届董事会期满之日止。 马小利先生担任本公司职工代表董事期间，将不从本公司领取任何董事酬金，薪 酬将按照其适用的公司薪酬管理制度予以确定。马小利先生具体薪酬金额将在公 司年度报告中披露。 马小利先生担任职工代表董事后，公司董事会中兼任高级管理人员的董事和 由职工代表担任的董事总计未超过董事总数的二分之一，独立董事不少于董事总 数的三分之一，符合法律法规、监管规则、自律规则及《公司章程》的规定。 ...

北京市金杜（广州）律师事务所 关于招商证券股份有限公司 2025 年第二次临时股东大会 之法律意见书 致：招商证券股份有限公司 北京市金杜（广州）律师事务所（以下简称本所）接受招商证券股份有限公 司（以下简称公司）委托，根据《中华人民共和国证券法》（2019 年修订）（以 下简称《证券法》）、《中华人民共和国公司法》（2023 年修订）（以下简称《公司 法》）、中国证券监督管理委员会《上市公司股东会规则》（以下简称《股东会规 则》）等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不 包括中国香港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、 行政法规、规章和规范性文件和现行有效的公司章程有关规定，指派律师出席了 公司于 2025 年 12 月 19 日召开的 2025 年第二次临时股东大会（以下简称本次 股东大会），并就本次股东大会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 公司 2024 年 6 月 29 日刊登于上海证券交易所网站（网址为 http://www.sse.com.cn，下同）并经 2023 年年度股东大会 ...

证券代码：600999 证券简称：招商证券 公告编号：2025-053 招商证券股份有限公司 2025年第二次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 12 月 19 日 (二)股东大会召开的地点：广东省深圳市福田区福田街道福华一路 111 号招商证 券大厦 (三)出席会议的普通股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,046 | | --- | --- | | 其中：A 股股东人数 | 1,045 | | 股股东人数 H | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 5,572,277,647 | | 其中：A 股股东持有股份总数 | 4,705,593,724 | | 股股东持有股份总数 H | 866,683,923 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 64.074748 | | 份总数的比例（%） | | ...

Group 1 - The "Zhaocai Cup" ETF live competition series aims to enhance investors' asset allocation and risk management skills while promoting the healthy development of the ETF market [1] - The current A-share market lacks a strong main line and has entered a period of fluctuation, with many institutional investors seeking to realize profits as the year ends [2][3] - The PPI (Producer Price Index) has been in a negative trend for 37 months but has shown signs of improvement, with expectations of a potential positive growth in the second half of next year [4][5] Group 2 - The recovery of the new energy sector may indicate the beginning of a new upward cycle, with the lithium battery and energy storage markets experiencing significant demand growth [12][13] - The "anti-involution" policy has begun to show effects, leading to price rebounds in various chemical products, particularly in lithium battery materials [11][19] - The chemical sector is expected to benefit from the ongoing "anti-involution" policies, with price increases observed in several sub-sectors [9][10] Group 3 - The market anticipates that the demand side will need stimulation to support the recovery of the PPI, with attention on upcoming economic meetings and policy directions [6][19] - The chemical and new energy sectors are currently in a valuation trough, with historical valuation levels around 30%-40%, indicating potential for future growth [20][23] - The cyclical nature of the chemical and new energy sectors suggests that once the upward trend begins, significant price rebounds and profit recovery are likely [21][22]

Core Viewpoint - The consumer goods export chain is expected to face multiple external disturbances in 2025, leading to structural differentiation in market conditions, with motorcycles and ATVs remaining strong while other segments see declining growth rates [1][2]. Group 1: 2025 Review - The consumer goods export chain encompasses a wide range of industries with varying growth drivers, resulting in a bottom-up driven market where individual stock logic is relatively independent, and sector effects are weak [2]. - In the first three quarters of 2025, revenue and net profit growth rates for export chain companies showed a declining trend, primarily due to tariff impacts and early inventory stocking by overseas clients [2]. - Despite the overall decline, certain segments like motorcycles and ATVs continue to outperform expectations, leading to sustained high growth in related companies' performance and stock prices [2]. Group 2: 2026 Outlook - The macroeconomic environment is expected to improve in 2026, with easing tariff issues and low freight costs, alongside the Federal Reserve initiating a new round of interest rate cuts, which will stimulate U.S. consumer and investment activities [3]. - The recovery of the U.S. real estate cycle is anticipated to benefit the tool industry, with continued attention recommended for the bathroom pump sector and domestic motorcycle exports [3]. Group 3: Tool Industry - Tool demand is directly correlated with the real estate industry's conditions, which are highly sensitive to mortgage rates currently suppressed by high rates, placing the real estate cycle at its lowest since 1999 [4]. - As the Federal Reserve's interest rate cuts take effect, mortgage rates are expected to decline, leading to a recovery in new and existing home sales, which will subsequently drive tool demand [4]. Group 4: Plastic Bathroom Pump Industry - The plastic bathroom pump sector, used in facilities like massage bathtubs and swimming pools, sees strong demand in Europe and North America [5]. - This sector is linked to new construction projects and also benefits from upgrades in existing facilities, with demand likely to increase following interest rate cuts [5]. Group 5: Motorcycle Industry - The global motorcycle market is vast and resilient, with 2023 sales reaching 54.6 million units, a year-on-year increase of 2.44%, and a market size of $139.6 billion, up 2.72% year-on-year [6]. - The competitive landscape features Japanese brands leading, Indian brands in the second tier, and Chinese brands breaking through, while European and American brands maintain a presence in high-end segments [6]. - Domestic brands are gradually moving away from reliance on low-end commuter models, shifting towards high-value segments like large displacement and electric motorcycles, aiming to increase market share in Europe and the U.S. [6]. - Key recommendations include companies like Juxing Technology (hand tools + power tools) and Quan Feng Holdings (power tools + garden tools), with additional attention suggested for Lingxiao Pump Industry, Chunfeng Power (small and mid-cap), Longxin General (automotive), and Taotao Industry (automotive & home appliances) [6].

Group 1: Pharmaceutical Sector - The innovation drug sector is expected to be the main focus, with particular attention on small nucleic acid technology and its accelerated development by 2026 [1][2] - The pharmaceutical industry is driven by supply creating demand, with significant trends observed from 2018 to 2024, including breakthroughs in PD-1, ADC technology, and new generation immunotherapy [2] - Key companies to watch in the pharmaceutical sector include Heng Rui Medicine, Hansoh Pharmaceutical, China National Pharmaceutical Group, and others involved in small nucleic acid and weight loss drug development [2] Group 2: CXO and Upstream Life Sciences - The CXO sector is expected to see continued improvement in fundamentals and valuation recovery, with a focus on companies like WuXi AppTec and Kanglong Chemical [3] - Upstream life sciences are benefiting from improved domestic research conditions, with companies like BGI Genomics and Bidu Pharmaceutical showing positive performance trends [3] - The raw material drug sector is entering a bottom price range, with companies that have quality clients and orders likely to see improved profit margins [3] Group 3: Medical Devices - The medical device sector is anticipated to benefit from improved hospital demand and inventory optimization, with a potential turning point in 2026 [4] - High-value consumables are expected to gain from collective procurement, enhancing domestic production capabilities [4] - Key players in the medical device sector include Mindray Medical, United Imaging Healthcare, and others [4] Group 4: Healthcare Consumption - The healthcare service sector is under pressure in 2025, but a mild recovery is expected in 2026, particularly in essential medical services and products [5] - Traditional Chinese medicine is projected to stabilize and grow, with a focus on OTC and prescription drug innovations [5] - The pharmacy sector is experiencing increased concentration due to regulatory changes, with companies like Yifeng Pharmacy and Dazhong Pharmacy showing improved performance [5]

登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上海证券交易所： 根据《证券发行上市保荐业务管理办法》、《上海证券交易所科创板股票上市规则》、《上海证券交易 所上市公司自律监管指引第11号——持续督导》、《上海证券交易所科创板上市公司自律监管指引第1 号——规范运作》、《上市公司募集资金监管规则》等有关法律法规和规范性文件的规定，招商证券股 份有限公司（以下简称"招商证券"、"保荐机构"）作为正在履行浙江艾罗网络能源技术股份有限公司 （以下简称"艾罗能源"、"上市公司"、"公司"）持续督导工作的保荐机构，对公司2025年1月1日至本次 现场检查期间（以下简称"本持续督导期"）的规范运行情况进行了现场检查，就现场检查的有关情况报 告如下： 一、本次现场检查的基本情况 （一）保荐机构 招商证券股份有限公司 （二）保荐代表人 刘奇、张钰源 （三）现场检查时间 2025年12月9日——2025年12月11日 （四）现场检查人员 刘奇、贺军伟、宋晓晖 （五）现场检查内容 公司治理和内部控制情况、信息披露情况、公司的独立性以及与控股股东、实际控制 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上海证券交易所： 根据《证券发行上市保荐业务管理办法》、《上海证券交易所科创板股票上市规则》、《上海证券交易 所上市公司自律监管指引第11号一一持续督导》、《上海证券交易所科创板上市公司自律监管指引第1 号一一规范运作》、《上市公司募集资金监管规则》等有关法律法规和规范性文件的规定，招商证券股 份有限公司（以下简称"招商证券"、"保荐机构"）作为正在履行浙江艾罗网络能源技术股份有限公司 （以下简称"艾罗能源"、"上市公司"、"公司"）持续督导工作的保荐机构，对公司2025年1月1日至本次 现场检查期间（以下简称"本持续督导期"）的规范运行情况进行了现场检查，就现场检查的有关情况报 告如下： 一、本次现场检查的基本情况 （一）保荐机构 招商证券股份有限公司 （二）保荐代表人 刘奇、张钰源 （三）现场检查时间 2025年12月9日一一2025年12月11日 （四）现场检查人员 刘奇、贺军伟、宋晓晖 （五）现场检查内容 公司治理和内部控制情况、信息披露情况、公司的独立性以及与控股股东、实际控制 ...

Group 1 - The core viewpoint of the news is the significant asset restructuring plan announced by China International Capital Corporation (CICC), Dongxing Securities, and Xinda Securities, which aims for a share swap merger to enhance synergy and competitive advantages [1] - As of December 18, 2025, the Guozheng Securities Leading Index (399437) has decreased by 1.08%, with mixed performance among constituent stocks, including a 10% limit-up for Dongxing Securities and a 3.96% increase for CICC [1] - The trading volume remains active, fluctuating between 1.7 trillion to 2.0 trillion yuan, with a financing balance stabilizing at 2.48 trillion yuan, indicating a positive long-term trend in the market despite short-term volatility [1] Group 2 - The China Securities Regulatory Commission (CSRC) chairman mentioned optimizing evaluation indicators for quality institutions, moderately expanding capital space and leverage limits, and shifting from price competition to value competition [2] - Major brokerages have a low equity fund position of only 0.62%, with large brokerages having an average price-to-book (PB) ratio of 1.46x, indicating potential for improvement in leverage and profitability [2] - The top ten weighted stocks in the Guozheng Securities Leading Index account for 79.05% of the index, highlighting the concentration of market performance among leading securities firms [2]