为更好地对母基金在中国资本市场里所发挥的重要作用进行系统研究，发挥政府出资产业投资 基金等的资源和战略优势，加强政府对社会资本的管理和引导，促进社会资本流向创新创业型 企业和实体经济，推动中国投资行业特别是母基金行业的健康发展， "中国国际科技促进会母 基金分会"（简称"科促会母基金分会"）成立。科促会母基金分会领导班子所在机构及参会机 构共 7 8 家，科促会母基金分会于每周二更新相关机构的一周资讯。 【内容提要】 1 . 2 0亿，这支专项母基金招GP 2 . 湖北首支主动管理 AIC基金正式注册设立 5 . 招商资本举办跨境电商海外仓行业研讨会 6 . 合肥高新控股集团与合作基金管理机构共谋发展新篇章 7 . 咸阳财金力量激活区域新动能集中签约会圆满落幕 01 20亿，这支专项母基金招GP 为贯彻落实江苏省委省政府部署要求，发挥长期资本、耐心资本、战略资本作用，促进江苏省 战略性新兴产业发展，着力打造发展新质生产力的重要阵地，江苏省战略性新兴产业母基金 （以下简称省级母基金）与盐城市共同出资设立江苏盐城绿色低碳产业专项母基金（有限合 伙）（以下简称产业专项母基金），规模 2 0亿元。产业专项母基金基本情 ...

证券代码：601108 证券简称：财通证券 公告编号：2025-009 转债代码: 113043 转债简称:财通转债 财通证券股份有限公司 可转债转股进展暨股份变动公告 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： 1.自2021年6月16日至2025年3月31日期间，公司A股可转债累计有560,000元 转换为公司A股股份，累计转股数量为46,746股，占可转债转股前公司已发行股 份总数（3,589,000,000股）的0.0013%。 2.截至 2025 年 3 月 31 日，公司尚未转股的可转债金额为 3,799,440,000 元， 占可转债发行总量的 99.9853%。 3.自 2025 年 1 月 1 日至 2025 年 3 月 31 日期间，公司 A 股可转债转股数量 为 267 股。 一、可转债发行上市概况 根据相关规定和《财通证券股份有限公司公开发行 A 股可转换公司债券募 集说明书》的约定，公司该次发行的"财通转债"自 2021 年 6 月 16 日起可转换为 本公司股份，当前转股价格为 ...

Core Viewpoint - The announcement from Caitong Securities Asset Management Co., Ltd. indicates the departure of fund manager Gong Zhifang due to internal adjustments, while he continues to manage several other funds [1][2]. Fund Performance Summary - Caitong Asset Management Xin Yi Mixed Fund (A, C) was established on August 30, 2017, and the E class was established on March 7, 2023. As of March 28, 2025, the year-to-date returns are 0.46%, 0.41%, and 0.36%, with cumulative returns since inception of 38.90%, 36.72%, and -9.12%, and cumulative net values of 1.3890, 1.3672, and 1.3777 respectively [1]. - Caitong Asset Management Active Yield Bond Fund (A, C) was established on July 19, 2016, and the E class on July 20, 2018. As of March 28, 2025, the year-to-date returns are -1.05%, -1.15%, and -1.08%, with cumulative returns since inception of 33.95%, 29.27%, and 20.80%, and cumulative net values of 1.3188, 1.2762, and 1.2062 respectively [2]. - Caitong Asset Management Stable Growth Six-Month Holding Period Mixed Fund (A, C) was established on March 9, 2022. As of March 28, 2025, the year-to-date returns are 0.67% and 0.58%, with cumulative returns since inception of 5.61% and 4.33%, and cumulative net values of 1.0561 and 1.0433 respectively [2]. Fund Manager Change Details - Gong Zhifang has been dismissed as the fund manager for Caitong Asset Management Xin Yi Mixed Fund, Active Yield Bond Fund, and Stable Growth Six-Month Holding Period Mixed Fund, with other managers including Li Jing and Shi Yushan continuing to manage these funds [3][4].

Group 1 - The company,交银施罗德基金管理有限公司, has signed sales agreements with multiple fund sales agencies, effective from March 28, 2025, to expand its distribution network [1][3][8][13][17][22]. - The newly added sales agencies include 财通证券股份有限公司, 蚂蚁（杭州）基金销售有限公司, 上海基煜基金销售有限公司, 上海利得基金销售有限公司, 上海天天基金销售有限公司, and 珠海盈米基金销售有限公司 [1][3][8][13][17][22]. - Investors can consult details regarding the fund sales through the respective customer service numbers and websites of the sales agencies and the company [5][10][15][20][24]. Group 2 - The company emphasizes that the specific time, process, business types, and any fee discount activities for fund sales will be determined by the sales agencies and their arrangements, in compliance with the fund contracts and prospectuses [4][9][14][19][23]. - The company has committed to managing and utilizing fund assets with honesty and diligence, although it does not guarantee profits or minimum returns [26][27].

证券代码：601108 证券简称: 财通证券 公告编号：2025-008 财通证券股份有限公司 本期发行短期融资券的相关文件已在以下网站上刊登： 2025年度第一期短期融资券发行结果公告 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。 财通证券股份有限公司 2025 年度第一期短期融资券已于 2025 年 3 月 14 日 发行完毕， 相关发行情况如下： | 短期融资券名称 | | | 财通证券股份有限公司 | | | 2025 年度第一期短期融资券 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 短期融资券简称 | 25 | 财通证券 | | | CP001 | 短期融资券代码 | 072510036 | | | 发行日 | 2025 | 年 | 3 月 | 13 | 日 | 起息日期 | 2025 年 3 月 14 | 日 | | 兑付日期 | 2025 | 年 | 8 月 | 15 | 日 | 期限 | 154D | | | 计划发行总额 | ...

Core Viewpoint - The demand for civil explosives is expected to increase due to significant infrastructure projects supported by government funding, particularly in the northwest region of China, driven by the "Western Development" policy [1][4]. Group 1: Industry Expansion and Policy Influence - The civil explosive industry is experiencing continuous expansion, with a projected CAGR of 3.6% in main business revenue from 2019 to 2024, driven by rapid growth in blasting service revenue, which is expected to rise from 46.12% of total revenue in 2019 to 78.35% in 2024 [2]. - Profitability in the civil explosive sector is anticipated to improve significantly, with total profits expected to increase by 45.0% in 2023 and 13.0% in 2024 [2]. - Key policy directions include promoting industry consolidation, optimizing product structure, and encouraging production companies to extend into blasting services, leading to an integrated model of research, production, and blasting services [2]. Group 2: Demand Drivers - The civil explosive industry is closely linked to mining and hydropower infrastructure, with high prices for copper and gold expected to sustain mining sector demand, supported by new legislation aimed at enhancing domestic exploration and production [3]. - Traditional infrastructure investment is stable, while green transformation is driving investment in hydropower projects, with installed capacity projected to reach 436 million kilowatts by the end of 2024 and potentially exceed 540 million kilowatts by 2030 [3]. Group 3: Regional Opportunities - In Xinjiang, diverse mineral resources and significant coal production growth (CAGR of 17.9% from 2019 to 2024) are expected to stimulate civil explosive demand, alongside ongoing transportation infrastructure investments [4]. - Tibet's rich mineral reserves and the development of complex construction projects are anticipated to drive demand for civil explosives, particularly in hydropower projects [4]. - Inner Mongolia's abundant coal and rare earth resources, along with the acceleration of a comprehensive transportation network, are expected to support civil explosive demand [4].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the expansion of market hotspots towards cyclical industries such as large consumption and finance, highlighting opportunities in the non-bank financial sector. The market's trading activity remains high, and with low investment returns as a baseline, it is expected that brokerage firms will see significant year-on-year growth in Q1 performance. The report maintains a positive outlook on brokerage and fintech sectors, while the insurance sector shows stable liabilities and potential for equity beta catalysts [5][11]. Summary by Sections 1. Capital Market Support for Technological Innovation - The central bank's recent meeting emphasized the implementation of a moderately loose monetary policy, with potential interest rate cuts. Following this, the non-bank financial sector saw a notable increase of 3.97% on March 14. The report suggests that the brokerage sector is likely to experience high growth in Q1 due to increased trading volumes and a favorable investment environment [5][11]. 2. Market Review - During the trading days from March 10 to March 14, the non-bank sector outperformed the CSI 300 index, with a gain of 3.15%. Notably, brokerage firms and insurance companies increased by 2.86% and 4.29%, respectively. Key stocks such as New China Life and China Pacific Insurance saw significant increases of 11.2% and 5.7% [16][17]. 3. Data Tracking - The average daily trading volume for stock-based funds was 1.92 trillion yuan, a decrease of 3% week-on-week but an increase of 65% year-on-year. The report also notes a significant increase in the issuance of public funds, with 167 new stock and mixed funds issued in 2025, totaling 883 billion yuan, which is a 111% year-on-year increase [20][21]. 4. Industry and Company News - The report highlights the upcoming public fund reform plan, which is expected to introduce significant new regulations affecting the 32 trillion yuan public fund market. Key changes include a shift towards long-term performance assessments for fund managers and adjustments to fee structures [31]. Additionally, the report mentions the release of regulatory guidelines for the bankruptcy restructuring of listed companies [32]. 5. Recommended and Beneficiary Stocks - The report recommends stocks such as Hong Kong Exchanges, Dongfang Securities, and China Life Insurance, while also identifying beneficiary stocks including Nine Point Investment Holdings and China Galaxy Securities [14].

Investment Rating - The report does not explicitly provide an investment rating for the securities industry or the specific company being analyzed [1]. Core Insights - The company has initiated a digital transformation since 2021, focusing on building a data foundation to enhance digital capabilities, resulting in the launch of 28 significant applications to improve customer engagement and service quality [18][20]. - The company plans to increase its proprietary investment scale in response to regulatory encouragement for long-term capital market participation, aiming to enhance overall capital efficiency [18][19]. - The asset management division is strategically positioned to leverage its public fund license and is focusing on passive equity products, particularly in the index investment space, to meet diverse client needs [20][21]. - The company is expanding its international business by following the needs of local enterprises, particularly in the "Belt and Road" regions, and aims to integrate domestic and international client services [22][23]. - The asset-backed securities (ABS) business has seen significant growth, with a total issuance of 173 ABS products amounting to 1,391.13 billion, indicating a strong market position [24]. Summary by Sections 01 Research Overview - The research was conducted on February 26, 2025, focusing on the securities industry and involved multiple financial institutions [1][13]. 02 Detailed Research Institutions - The research involved seven fund management companies and one other financial company, with a significant representation from fund management firms [14][16]. 04 Main Content Information - The company is actively enhancing its AI capabilities to improve investment advisory services and customer interactions, aiming for a comprehensive digital transformation [18]. - The company is committed to expanding its asset management capabilities, particularly in passive investment products, to cater to varying risk appetites among clients [21]. - The company has established a strong presence in the ABS market, with a focus on innovative products in response to national policy directions [24].

| 证券代码：601108 | 证券简称: 财通证券 | 公告编号：2025-006 | | --- | --- | --- | | 债券代码：113043 | 债券简称: 财通转债 | | 财通证券股份有限公司 关于不向下修正"财通转债"转股价格的公告 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。 重要内容提示： 1.截至 2025 年 2 月 25 日，财通证券股份有限公司（以下简称"公司"）A 股 股票已出现连续三十个交易日中至少有十五个交易日的收盘价低于当期可转债 转股价格的 80%之情形，触及"财通转债"转股价格向下修正条款。 2.经公司第四届董事会第十九次会议审议通过，会议决定本次不向下修正 "财通转债"转股价格，同时在 2025 年 2 月 26 日至 2025 年 5 月 25 日期间，如再 次触及可转债转股价格向下修正条款，公司未履行审议程序及信息披露的，则公 司亦不提出向下修正方案。从 2025 年 5 月 26 日开始重新起算，若再次触发"财 通转债"的转股价格向下修正条款，届时公司董事会将再次召开会议 ...

一、审议通过《关于审议豁免本次董事会需提前 3 天通知的议案》 表决情况：9 票赞成，0 票反对，0 票弃权。 证券代码：601108 证券简称：财通证券 公告编号：2025-005 财通证券股份有限公司 第四届董事会第十九次会议决议公告 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。 财通证券股份有限公司（以下简称"公司"）第四届董事会第十九次会议通知 于 2025 年 2 月 25 日以电话和电子邮件等方式发出，会议于 2025 年 2 月 25 日以 通讯表决方式召开。本次会议应参加表决董事 9 人，实际参加表决董事 9 人。本 次会议的召集、召开符合《公司法》、公司《章程》和《董事会议事规则》的有 关规定，本次会议审议并通过以下议案： 二、审议通过《关于审议不向下修正"财通转债"转股价格的议案》 会议同意不向下修正转股价格，同时在 2025 年 2 月 26 日至 2025 年 5 月 25 日期间，如再次触及可转债转股价格向下修正条款，公司未履行审议程序及信息 披露的，则公司亦不提出向下修正方案。从 2025 年 5 ...