Core Viewpoint - The total dividend amount distributed by listed companies before the Spring Festival has exceeded the previous year, reaching a new high of 348.8 billion yuan, indicating a strong commitment to enhancing investor returns and satisfaction [1] Group 1: Dividend Distribution Overview - From December 2025 to January 2026, 235 listed companies on the Shanghai and Shenzhen stock exchanges distributed a total of 348.8 billion yuan in dividends before the Spring Festival, surpassing the 344.6 billion yuan from the previous year [1] - The financial and consumer sectors remain the primary contributors to dividend distributions, with banking companies alone distributing 243.4 billion yuan, accounting for nearly 70% of the total [1][2] Group 2: Industry-Specific Insights - Major banks, including China Merchants Bank and Industrial Bank, have joined the trend of pre-Spring Festival dividends, distributing a total of 37.5 billion yuan [2] - Leading consumer companies such as Kweichow Moutai, Wuliangye, and Haitian Flavoring & Food have collectively distributed 44.8 billion yuan in dividends, reflecting their commitment to enhancing intrinsic value and investor confidence [3] Group 3: Changes in Dividend Timing - The timing of dividend distributions has shifted earlier, with a total of 264.7 billion yuan distributed in December 2025, which is 3.7 times the amount from December 2024, and now accounting for over 70% of the total pre-Spring Festival dividends [4] - Major banks have also advanced their dividend payments to December 2025, with a combined total of 189.9 billion yuan [4] Group 4: Private Company Dividend Trends - The willingness of private listed companies to distribute dividends has significantly increased, with a total of 61.6 billion yuan distributed, representing a year-on-year growth of 130% and an increase in their share of total dividends from 8% to 18% [5] - Notable private companies such as Industrial Fulian, Gree Electric, and Yili have also initiated pre-Spring Festival dividends for the first time, distributing 6.6 billion yuan, 5.6 billion yuan, and 3 billion yuan respectively [5]

Group 1 - The total dividend amount distributed by listed companies before the Spring Festival has exceeded the previous year, reaching a new high of 348.8 billion yuan, surpassing the 344.6 billion yuan from the previous year [1] - Financial and consumer sectors continue to be the main contributors to dividends, with banking companies distributing 243.4 billion yuan, accounting for nearly 70% of the total [1] - The trend of pre-Spring Festival dividends reflects companies' commitment to enhancing investor returns and aligning dividend distribution with shareholder expectations [1][2] Group 2 - Major consumer companies such as Kweichow Moutai and Wuliangye collectively distributed 44.8 billion yuan in dividends, indicating a strong commitment to enhancing company value and investor confidence [2] - The timing of dividend distributions has generally advanced, allowing investors to benefit from earlier cash returns and better cash flow planning for the new year [3] - The willingness of private companies to distribute dividends has significantly increased, with a total of 61.6 billion yuan distributed, a 130% year-on-year growth, now accounting for 18% of the total pre-Spring Festival dividends [3] Group 3 - Regulatory bodies are promoting improvements in the dividend system, which includes restrictions on major shareholders' sell-offs for companies with low or no dividends, encouraging companies to prioritize shareholder returns [4] - The increase in cash dividends, especially among private companies, is seen as a significant indicator of the high-quality development of the capital market [4]

Meeting Overview - The meeting will be held via communication method for the fund holders of the CICC Xinfu 87-Month Regular Open Bond Fund [2] - Voting period starts from February 13, 2026, to March 18, 2026, at 17:00 [2] - The meeting is convened by CICC Fund Management Co., Ltd. and the custodian is Industrial Bank Co., Ltd. [2] Voting Procedures - Fund holders can submit their votes by sending the completed voting ballots to the designated address [3][6] - Specific requirements for individual and institutional investors regarding the submission of voting ballots are outlined [7][8] Agenda Items - The main agenda item is to discuss the proposal to amend the fund contract [4][16] - Detailed explanations of the proposed amendments are provided in the attached documents [16] Registration and Voting Rights - The record date for voting rights is February 12, 2026, and all registered fund holders by this date are eligible to participate [5] - Each fund share grants one voting right, and a special resolution requires approval from at least two-thirds of the voting rights represented at the meeting [9][11] Counting and Validity of Votes - Votes will be counted by authorized supervisors under the supervision of the custodian [10] - Validity criteria for voting ballots are specified, including requirements for completeness and timely submission [12] Amendment Details - Proposed amendments include changes to the fund's open period and conditions for fund termination [24][25] - The management company will implement the amendments if approved by the fund holders [27] Additional Information - The meeting is supported by legal and notary services to ensure compliance and transparency [14] - Fund holders are encouraged to submit their voting ballots early to account for mailing times [15]

Group 1: Company Overview - Shandong Lichuang Mould Co., Ltd. has developed a 4.0 intelligent automated flexible production line for tire molds, significantly reducing the number of operators needed from 11 to 2, enhancing product consistency, precision, and reliability [1] - The company has received multiple recognitions, including being a national high-tech enterprise and a "specialized, refined, distinctive, and innovative" small giant enterprise in Shandong, establishing its leading position in the domestic tire mold industry [2] - Shandong Lichuang Mould has accumulated 22 invention patents and 38 utility model patents, and has established long-term strategic partnerships with major domestic tire manufacturers, exporting products to markets in South Korea, Thailand, and Russia [2] Group 2: Financial Support and Innovation - The company invested over 40 million yuan in the construction of its new production line, leading to increased funding needs for raw material procurement, production preparation, and technology upgrades [2] - Rizhao Bank provided a 10 million yuan pre-approved credit limit through its "Kechuang Yidai" online product, facilitating easier access to financing for the company [2] - The bank also offered a knowledge property pledge interest subsidy loan, allowing the company to secure 10 million yuan in subsidized funds within two weeks [2][3] Group 3: Industry Trends and Challenges - Technology-intensive companies like Shandong Lichuang Mould often face financing challenges due to asset-light structures and insufficient collateral [3] - The local financial institutions are innovating financing models, such as the "technology flow" approval method, to support companies with strong technological capabilities but limited physical assets [4] - By the end of 2025, the balance of technology-related loans in Weifang reached 223.29 billion yuan, with significant growth in loans to specialized and innovative small and medium-sized enterprises [5][6]

Group 1 - The company has established a "Market Value Management System" and a "Valuation Enhancement Plan," which were approved by the board on March 27, 2025 [2] - The "Valuation Enhancement Plan" has been disclosed to the public, indicating a commitment to transparency [2] - The company will regularly assess the implementation effectiveness of the "Valuation Enhancement Plan," with any necessary improvements subject to board review and disclosure [2]

Core Viewpoint - The article highlights the increasing trend of pre-Spring Festival dividends among listed companies, indicating improved profitability and a stronger shareholder return awareness, which is encouraged by regulatory bodies [2][4]. Group 1: Dividend Trends - In the two months leading up to the Spring Festival, 235 listed companies on the Shanghai and Shenzhen stock exchanges are expected to distribute a total of 348.8 billion yuan in dividends, surpassing the previous year's total of 344.6 billion yuan [2]. - The financial and consumer sectors remain the primary contributors to dividends, with the banking sector distributing 243.4 billion yuan, accounting for nearly 70% of the total [2]. Group 2: Major Contributors - Leading companies such as Yangtze Power, Luxshare Precision, and CITIC Securities are planning to distribute over 10 billion yuan each, with Yangtze Power leading at over 5.1 billion yuan [3]. - Smaller companies are also participating actively, particularly those in specialized fields, with three companies from the Beijing Stock Exchange distributing a total of 4.45 million yuan [3]. Group 3: Timing and Growth - The timing of dividend distributions has advanced, with a total of 264.7 billion yuan distributed in December 2025, which is 3.7 times the amount from December 2024 [4]. - Private enterprises have shown a significant increase in dividend distribution, with amounts doubling to 61.6 billion yuan, now representing 18% of the total pre-Spring Festival dividends [4]. Group 4: Regulatory Influence - Regulatory bodies have been pushing for improvements in the dividend system, transitioning from "soft constraints" to "hard requirements," which has led to increased focus on shareholder returns [4]. - Measures such as halving dividend distribution fees have been implemented to lower costs and encourage companies to distribute dividends [4]. Group 5: Market Impact - The evolving dividend ecosystem is fostering a culture of value investment, enhancing investor confidence and attracting long-term capital into the market [5][6].

Core Viewpoint - The company aims to continue its focus on becoming a value-oriented bank, enhancing operational management efficiency, and ensuring capital management is concentrated to provide stable and sustainable returns to investors [2] Group 1 - The company will maintain its commitment to the value banking goal [2] - The company emphasizes the importance of improving operational management quality [2] - The company plans to implement concentrated capital management strategies [2]

根据财政部、工业和信息化部、中国人民银行、金融监管总局四部门印发的《关于实施民间投资专项担 保计划的通知》，民间投资专项担保计划聚焦科技创新、设备更新、技术改造、绿色转型、消费场景升 级等关键领域，凭借风险分担、低费率、高额度保障等核心优势，为民营中小微企业提供更便捷、低成 本的融资支持。其中，政府性融资担保体系最高可分担80%风险，国家融担基金分险比例提升至40%， 再担保费减半、直保机构担保费率不超过1%，单户授信担保额度上限达2000万元，多重政策红利为民 营企业发展保驾护航。（文/金高阳） 近日，财政部、工业和信息化部、中国人民银行、金融监管总局联合推出规模达5000亿元的民间投资专 项担保计划，为民营中小微企业中长期融资注入"政策活水"。作为政策落地的"先行者"，兴业银行 （601166）杭州分行迅速响应、高效行动，携手国家融资担保基金、浙江省融资担保有限公司人才科创 担保分公司，于近日成功投放全省首笔"民间投资专项担保贷款"，以1000万元中长期资金精准赋能科创 型民营企业扩产升级，让政策红利直达市场主体"最后一公里"。 此次业务落地，彰显了"兴业速度"与"金融温度"的双向奔赴。兴业银行杭州分行金 ...

苏商银行特约研究员张思远也分析，从风险特性看，网银渠道具有交易便捷性高、操作自主性强的特 点，易引发高频交易或非理性追涨杀跌行为，尤其在黄金价格短期波动剧烈的情况下，投资者风险敞口 快速扩大。因此，银行正引导交易向更具管控能力的渠道迁移。 #兴业银行将关闭个人黄金网银交易渠道#【银行关闭网银交易渠道 个人贵金属业务将全面收紧？】在 频繁上调黄金积存业务起投门槛之后，近来，又有银行宣布关闭个人贵金属买卖的网银交易渠道。随着 黄金、白银价格宽幅震荡加剧，个人贵金属投资的相关业务风险管控持续升级。 兴业银行日前发布公告称，根据业务发展需要，将在2026年2月14日以后关闭代理上海黄金交易所个人 贵金属买卖业务个人网银交易渠道，柜面、手机银行等交易渠道正常开放。 兴业银行在公告中表示，当前贵金属市场剧烈波动，市场风险较大，再次提醒尚未完成解约的个人客户 尽快办理延期合约平仓/库存卖出、出金和解约操作。该行将继续根据市场状况和业务发展需要调整客 户交易渠道。 在中经传媒智库专家、中国城市发展研究院投资部副主任袁帅看来，银行选择关闭个人贵金属买卖业务 的网银交易渠道，保留柜面和手机银行渠道，本质上是在风险管控和业务优化之 ...

Core Viewpoint - A new round of deposit interest rate cuts has begun, with major banks reducing rates on large-denomination certificates of deposit (CDs), indicating a shift in the banking sector aimed at alleviating interest margin pressure and better serving the real economy [1][5]. Group 1: Interest Rate Changes - Major state-owned banks have lowered the annualized interest rates on 1-month and 3-month large-denomination CDs to below 1%, with some products seeing a maximum reduction of 35 basis points [1][2]. - The latest rates for China Bank's CDs are 0.9% for 1-month and 3-month terms, and 1.1% for 6-month terms, marking a significant decrease from previous rates [2][3]. - Other banks, including Industrial and Agricultural Banks, have also reduced their 1-month and 3-month CD rates to 0.9% [4]. Group 2: Implications for Banks and Investors - The reduction in deposit rates is expected to help stabilize banks' net interest margins, which have been under pressure, as evidenced by a 9 basis point decline to 1.43% in the first quarter of this year [5][6]. - Analysts suggest that investors should adjust their expectations for investment returns and consider a diversified asset allocation strategy, including cash management products and government bonds, in light of declining deposit rates [6].