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律所集中度偏低反常!中伦锦天城领跑,A股IPO监管信号不简单
Sou Hu Cai Jing· 2026-01-16 08:56
据深水财经社发布的《2025年A股上市公司发展报告中介机构篇》显示,2025年A股共有116家公司完成 首发上市,较上年增加16家。 2025年A股IPO市场暖意渐浓,全面注册制改革的深化让资本市场服务实体经济的功能愈发凸显。 作为企业上市进程中的核心枢纽,券商、会计师事务所、律师事务所三大中介机构的竞争格局与服务质 量,直接关系到IPO市场的健康度。 合计募集资金1317.71亿元,同比激增95.63%,创下近年新高。截至2025年末,两市A股上市公司总数 已达5469家。 头部集聚效应极致凸显 小睿就带大家拆解2025年A股IPO中介机构格局,头部扎堆抢食,监管趋严下 "看门人" 责任再升级。 容诚会计师事务所以29个IPO项目遥遥领先,天健、立信分别以20个和17个项目位列第二、第三。 容诚的异军突起得益于对硬科技企业的深耕,在半导体、生物医药等高景气赛道的项目储备量持续走 高。 专业细分成突围关键 天健则凭借浙江区域的深厚根基,成为浙商企业上市的首选合作伙伴,其申报项目储备量以74家位居行 业第一。 2025年券商IPO保荐赛道的"马太效应"呈现白热化态势,不仅项目数量高度集中,承销金额的头部垄断 特 ...
海得控制:接受中信建投证券调研
Mei Ri Jing Ji Xin Wen· 2026-01-16 08:29
每经AI快讯,海得控制发布公告称,2026年1月15日至2026年1月16日期间,海得控制接受中信建投证 券调研,公司副总经理兼董事会秘书吴秋农,证券事务代表邱扬凡,证券事务代表助理王雪婷参与接 待,并回答了投资者提出的问题。 (记者 曾健辉) 每经头条(nbdtoutiao)——白银50天涨逾80%,疯狂程度远超黄金,历史上爆炒白银往往预示贵金属 牛市已到高潮,这次有何不同? ...
威派格2025年预亏 3度募资共16亿元上市中信建投保荐
Zhong Guo Jing Ji Wang· 2026-01-16 06:35
Core Viewpoint - The company, Weipage (603956), is forecasting a net loss of approximately 130.93 million yuan for the year 2025, although it expects to reduce its losses by about 90 million yuan compared to the previous year [1]. Financial Performance - In 2024, the company reported an operating revenue of 1.24 billion yuan, a year-on-year decrease of 12.51% [1]. - The net profit attributable to the parent company for 2024 was a loss of 21.2 million yuan, compared to a profit of 2.33 million yuan in the previous year [1]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was a loss of 23.8 million yuan, compared to a loss of 1.1 million yuan in the previous year [1]. - The net cash flow from operating activities was -163 million yuan, down from 24.96 million yuan in the previous year [1]. Fundraising Activities - The total amount raised from the initial public offering (IPO) was approximately 242.80 million yuan, with a net amount of about 204.20 million yuan after expenses [2]. - The company planned to use the raised funds for upgrading its R&D technology center, marketing network system, and to supplement working capital [2]. - The total fundraising from the IPO expenses was 38.60 million yuan, with the lead underwriter, CITIC Securities, receiving approximately 27.25 million yuan [2]. - The company issued 4.2 million convertible bonds in November 2020, raising a total of 420 million yuan, with a net amount of approximately 416.54 million yuan after expenses [2]. - In 2021, the company conducted a non-public offering of 82.47 million shares at a price of 11.76 yuan per share, raising a total of approximately 969.90 million yuan, with a net amount of about 959.04 million yuan after expenses [3]. - The total amount raised from all three fundraising activities was approximately 1.633 billion yuan [4].
中信建投固定收益首席分析师曾羽:2026年或是长周期尾端的利率筑底之年
Zheng Quan Shi Bao Wang· 2026-01-16 04:45
Core Viewpoint - The 2026 Bond Market Annual Forum highlighted expectations for long-term interest rates to remain in a wide range of fluctuations, with potential for a gradual recovery in the macro economy if housing prices stabilize in the next two years [1] Group 1: Interest Rate Trends - Long-term interest rates are expected to experience wide fluctuations at the bottom [1] - A gradual upward trend in the interest rate center is anticipated, driven by a potential stabilization in housing prices and ongoing "anti-involution" efforts [1] Group 2: Investment Strategies - The market environment suggests avoiding unilateral duration strategies, favoring a focus on coupon strategies [1] - Recommendations include using short-duration credit bonds as a base, employing leverage strategies for interest rate arbitrage, and actively managing long-end volatility to enhance returns [1] - There is an emphasis on actively positioning in "fixed income +" opportunities [1]
数据港股价跌5.63%,中信建投基金旗下1只基金重仓,持有12.19万股浮亏损失26.21万元
Xin Lang Cai Jing· 2026-01-16 02:47
Group 1 - DataPort's stock price dropped by 5.63% to 36.03 CNY per share, with a trading volume of 1.923 billion CNY and a turnover rate of 7.22%, resulting in a total market capitalization of 25.883 billion CNY [1] - DataPort, established on November 18, 2009, and listed on February 8, 2017, primarily engages in data center server hosting services and network bandwidth services, with 99.31% of its revenue coming from IDC services [1] Group 2 - CITIC Securities Fund holds a significant position in DataPort, with the CITIC Technology Theme 6-Month Holding Mixed A Fund (017034) owning 121,900 shares, accounting for 2.88% of the fund's net value, ranking as the eighth largest holding [2] - The CITIC Technology Theme 6-Month Holding Mixed A Fund was established on December 15, 2022, with a current size of 111 million CNY, achieving a year-to-date return of 9.4% and a one-year return of 8.21% [2] - The fund has experienced a cumulative loss of approximately 425.3 million CNY since its inception [2]
豆神教育股价跌5.1%,中信建投基金旗下1只基金重仓,持有15万股浮亏损失6.6万元
Xin Lang Cai Jing· 2026-01-16 02:45
1月16日,豆神教育跌5.1%,截至发稿,报8.18元/股,成交7.72亿元,换手率5.53%,总市值169.05亿 元。 截至发稿,张青累计任职时间4年267天,现任基金资产总规模2197.54万元,任职期间最佳基金回报 20.55%, 任职期间最差基金回报-20.83%。 风险提示:市场有风险,投资需谨慎。本文为AI大模型自动发布,任何在本文出现的信息(包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等)均只作为参考,不构成个人投资建 议。 责任编辑:小浪快报 资料显示,豆神教育科技(北京)股份有限公司位于北京市海淀区东北旺西路8号院25号楼豆神教育集 团,成立日期1999年1月8日,上市日期2009年10月30日,公司主营业务涉及内容(安全)管理解决方案业 务、教育产品及管理解决方案业务以及视音频解决方案及服务业务。主营业务收入构成为:教育产品及 管理解决方案91.33%,内容(安全)管理解决方案及服务收入7.88%,其他(补充)0.79%。 从基金十大重仓股角度 数据显示,中信建投基金旗下1只基金重仓豆神教育。中信建投臻选成长混合发起式A(018788)三季 度增持1万股,持有股数15 ...
增量资金有望推动慢牛行情持续
Mei Ri Jing Ji Xin Wen· 2026-01-16 01:29
Group 1 - The domestic power grid investment is expected to exceed 1 trillion yuan per year during the "14th Five-Year Plan" period, with a projected average annual investment of 1 trillion yuan during the "15th Five-Year Plan" period [1] - The State Grid Corporation's fixed asset investment is anticipated to reach 4 trillion yuan, representing a 40% increase compared to the "14th Five-Year Plan" investment [1] - The investment from the Southern Power Grid during the "15th Five-Year Plan" period is expected to be around 1 trillion yuan, with investments in 2026 projected to be 700 billion yuan, an increase of 7.6% year-on-year [1] Group 2 - A significant influx of incremental funds is expected in the A-share market in 2026, which may sustain a slow bull market [2] - The first quarter of 2026 is projected to be a peak period for the maturity of fixed deposits, with funds likely flowing from insurance and wealth management channels into the equity market [2] - Approximately one-third of the total fund inflow is expected to come from medium- and long-term funds, which have become a key foundation for micro liquidity in the A-share market [2] Group 3 - The domestic energy storage demand is projected to see significant growth from 2025 to 2027, with expected capacities of 154 GWh, 254 GWh, and 337 GWh, reflecting year-on-year growth rates of 40.2%, 65.2%, and 32.5% respectively [3] - The global energy storage market is also expected to grow, with new installations projected at 279 GWh, 423 GWh, and 563 GWh from 2025 to 2027, showing year-on-year growth rates of 44%, 52%, and 33% respectively [3] - The introduction of capacity pricing mechanisms in multiple provinces is anticipated to enhance the economic viability of energy storage, marking a turning point for the industry [3]
中信建投期货:1月16日宏观早报
Xin Lang Cai Jing· 2026-01-16 01:19
新浪合作平台中信建投期货开户 安全快捷有保障 北京时间1月15日,中国人民银行公布数据显示,2025年12月社会融资规模新增22080亿元,前值增24888亿元,预期增18153亿元;新增人民币贷款9100亿 元,前值增3900亿元,预期增6794亿元;人民币贷款存量同比增长6.4%,前值6.4%;M2同比增长8.5%,前值增8.0%,预期增7.9%;M1同比增长3.8%,前 值增4.9%,预期增3.8%。社融方面,12月社融增量保持较高增速。12月新增社融22080亿元,同比多增12180亿元。新增委托贷款、新增信托贷款与新增未 贴现银行承兑汇票分别同比多增327亿元、多增529亿元、少增162亿元,表外融资三项表现较为平稳;12月政府债券较大幅回落,同比少增10702亿元,主要 因去年基数较高。2025年全年累计社融增量达35.6万亿,同比多增3.34万亿元12日让动口么下人足币代款为0757亿元 同比名操1355亿元。12月企业债券融资 为1524亿元,同比多增1683亿元;非金融企业境内股票融资560亿元,同比多增76亿元;企业端融资同比延续改善,环比受年底流动性边际收紧影响季节性 下行,但本期表现仍 ...
中信建投期货:1月16日工业品早报
Xin Lang Cai Jing· 2026-01-16 01:19
Group 1: Copper Market - The main copper futures in Shanghai retreated to 103,000 yuan per ton, while London copper fluctuated around 13,155 USD [4][17] - The U.S. initial jobless claims fell to 198,000, significantly below market expectations, indicating a slowdown in the job market, but the Federal Reserve maintains a hawkish stance, leading to a cooling market sentiment [5][17] - The increase in copper warehouse receipts on the Shanghai Futures Exchange by 13,000 tons to 163,000 tons, while LME copper inventories decreased by 500 tons to 141,100 tons [5][17] - The State Grid expects investments during the 14th Five-Year Plan to reach 4 trillion yuan, a 40% increase compared to the previous plan [5][17] - Overall, macro sentiment adjustments and the postponement of key overseas mineral tariff investigations may exert pressure on recent prices, but pre-holiday stocking demand and raw material tightness may limit the downside for copper prices [5][17] Group 2: Nickel and Stainless Steel - Indonesia's Ministry of Energy and Mineral Resources announced an adjustment of nickel ore RKAB quotas to 250-260 million tons by 2026, which is expected to provide short-term support for nickel prices [6][18] - The nickel market lacks further supply-demand contradictions, and the tightening quota expectations have already been priced in [6][18] - The current strategy for nickel and stainless steel is to remain on the sidelines, with Shanghai nickel futures expected to trade between 140,000 and 160,000 yuan per ton [6][19] Group 3: Aluminum Market - The price of alumina has slightly declined, maintaining a downward trend in spot prices, with the 05 contract showing increased short positions [20] - The overall supply of alumina is excessive, with production slightly rebounding to around 96 million tons [20] - The market anticipates a continued decline in spot prices due to lower production costs and reduced concerns about large-scale production cuts in the alumina industry [20] - The 05 contract for alumina is expected to trade between 2,500 and 2,800 yuan per ton, with a recommendation to hold short positions [20][21] Group 4: Zinc Market - Zinc prices showed a slight upward trend, with the U.S. initial jobless claims decreasing and the New York manufacturing index returning to expansion territory [23] - Domestic TC prices are stabilizing at low levels, while overseas prices are also declining, leading to a slight recovery in the import supply [23] - The strategy for zinc is to remain observant, with the main contract expected to trade between 24,500 and 25,500 yuan per ton [23] Group 5: Lead Market - Lead prices showed a slight upward trend, with supply-side pressures easing due to adjustments in primary smelter maintenance plans [24] - The recycling of waste batteries is expected to decline, but the willingness of recyclers to maintain prices is increasing [24] - The strategy for lead is to operate within a range, with the main contract expected to trade between 17,000 and 18,000 yuan per ton [24] Group 6: Precious Metals - Precious metals experienced slight fluctuations, with gold, silver, and palladium showing minor pullbacks, while platinum saw slight gains [26] - The U.S. has temporarily refrained from imposing tariffs on key minerals, which has led to some profit-taking pressure in the market [26] - The overall market remains uncertain, with ongoing geopolitical tensions supporting safe-haven demand for precious metals [26]
中信建投期货:1月16日农产品早报
Xin Lang Cai Jing· 2026-01-16 01:19
Group 1: Corn Market - The corn futures for March reached a peak of 2300 CNY/ton, but the overall trend remains weak [4] - On January 12, the China National Grain Reserves Corporation's Jilin branch auctioned nearly 30,000 tons of corn, all sold at a premium. However, on January 15, only 20% of the 16,000 tons auctioned were sold, indicating a significant drop in transaction rate [4] - The Jilin branch plans to auction 71,000 tons on January 16, suggesting that market sentiment is still waiting to be released ahead of the Spring Festival [4] Group 2: Soybean Meal Market - The U.S. biofuel policy has released positive signals, leading to a surge in U.S. soybean oil prices, which in turn boosted soybean prices. However, the supply side of U.S. soybeans is unlikely to provide new positive drivers, shifting focus to demand changes and South American production [19] - As of January 14, 93.9% of Argentina's soybean planting is complete, with a quality rate of 61%, a decrease of 4 percentage points week-on-week. The Buenos Aires province's early soybeans are entering a critical growth stage, requiring soil moisture to maintain yield potential [19] - Recent active trading in imported soybeans and forward soybean meal contracts reflects increased replenishment willingness due to falling meal prices, indicating a structural tightness in the market despite overall ample supply [19] Group 3: Egg Market - The spot price of eggs in major production areas continues to rise, with the average price in Hebei's Guantao at approximately 3.33 CNY/jin, an increase of 0.09 CNY/jin from the previous day [21] - The strong spot price trend is driving near-month contracts higher, but uncertainties remain around the market dynamics before and after the Spring Festival [21] - The expected decline in stock levels is projected to continue into Q1 2026, with an anticipated drop to approximately 1.299 billion birds by April 2026 [21] Group 4: Live Pig Market - The average price of live pigs in major production areas is approximately 12.74 CNY/kg, with stable spot performance and near-month contracts recovering from previous discounts [23] - Data indicates a 0.36% month-on-month increase in breeding stock, while fattening stock decreased by 5.2% [23] - Market sentiment is improving as spot prices rise, with some optimistic producers showing reluctance to sell, indicating a potential shift in market dynamics [23]