Group 1 - The core point of the article is that Bank of Communications Co., Ltd. has obtained a patent for a mobile terminal password-free authentication method based on token hierarchical transformation, with the patent granted on January 2023 [1] - The patent is identified by the authorization announcement number CN 116233845 B [1] - Bank of Communications was established in 1987 and is located in Shanghai, primarily engaged in monetary financial services [1] Group 2 - The registered capital of Bank of Communications is approximately 74.26 billion RMB [1] - The bank has made investments in 170 enterprises and participated in 5,000 bidding projects [1] - The bank holds 453 trademark information records and 274 patent information records, along with 138 administrative licenses [1]

Market Overview - The participatory fund sector experienced a decline of 0.84% compared to the previous trading day, with Daheng Technology leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Stock Performance - Notable gainers included: - Zhongjia Group (Code: 000039) with a closing price of 9.35, up 10.00% and a trading volume of 1.9474 million shares, totaling 1.764 billion yuan [1] - Suzhou Gaoxin (Code: 600736) closed at 5.79, up 3.76% with a trading volume of 590,000 shares, totaling 345 million yuan [1] - Daheng Technology (Code: 600288) was the biggest loser, closing at 14.69, down 2.13% with a trading volume of 86,400 shares, totaling 129 million yuan [2] Capital Flow - The participatory fund sector saw a net outflow of 732 million yuan from institutional investors, while retail investors contributed a net inflow of 574 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their participation [2] Individual Stock Capital Flow - Zhongjia Group (Code: 000039) had a net inflow of 474 million yuan from institutional investors, representing 26.86% of its trading volume [3] - Fenghuo Communication (Code: 600498) experienced a net inflow of 76.36 million yuan from institutional investors, but a net outflow of 18.29 million yuan from speculative funds [3]

Group 1 - The core point of the news is that Bank of Communications executed a block trade of 630,000 shares on November 26, with a transaction value of 4.8636 million yuan, representing 0.42% of the total trading volume for the day [1][2] - The transaction price was 7.72 yuan, which is a premium of 0.78% compared to the market closing price of 7.66 yuan [1][2]

Core Points - The state-owned large bank sector experienced a decline of 1.67% on November 26, with Industrial and Commercial Bank of China (ICBC) leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose by 1.02% to 12907.83 [1] Summary by Category Stock Performance - The closing prices and changes for major state-owned banks are as follows: - Bank of Communications: 7.66, down 0.78% - China Construction Bank: 9.72, down 1.32% - Postal Savings Bank: 5.79, down 1.53% - Agricultural Bank of China: 7.94, down 1.61% - Bank of China: 6.15, down 1.76% - Industrial and Commercial Bank of China: 8.16, down 1.81% [1] Capital Flow - The net capital flow for the state-owned large bank sector showed a net outflow of 1.244 billion yuan from major funds, while retail investors saw a net inflow of 611 million yuan [1] - The detailed capital flow for individual banks is as follows: - Bank of Communications: Major funds net outflow of 22.804 million yuan, retail net inflow of 440.06 thousand yuan - China Construction Bank: Major funds net outflow of 91.255 million yuan, retail net inflow of 28.205 million yuan - Postal Savings Bank: Major funds net outflow of 11.47 million yuan, retail net inflow of 45.654 million yuan - Industrial and Commercial Bank of China: Major funds net outflow of 208 million yuan, retail net inflow of 42.895 million yuan - Bank of China: Major funds net outflow of 267 million yuan, retail net inflow of 200 million yuan - Agricultural Bank of China: Major funds net outflow of 541.17 million yuan, retail net inflow of 299 million yuan [2]

Core Insights - The foreign exchange business reform has been positively received by commercial banks and the public, with 26 banks participating as of September 2025, covering various types of banks across the country [1][2] Group 1: Reform Implementation and Participation - As of September 2025, 26 banks are involved in the foreign exchange business reform, including 5 large banks, 9 joint-stock banks, 4 city commercial banks, and 8 foreign banks [1] - The newly added banks in the third quarter include Industrial and Commercial Bank of China, Deutsche Bank, Mizuho Bank, and Mitsubishi UFJ Financial Group [2] Group 2: Benefits of the Reform - The reform has reduced the burden on enterprises, allowing them to handle foreign exchange transactions more efficiently, with some businesses experiencing a significant reduction in processing time from days to minutes [3] - Banks have improved their customer identification and service capabilities, leading to a reduction in average processing time for transactions by over 50% [3] - The reform has enhanced regulatory quality, with banks establishing risk monitoring systems to better track cross-border transactions and identify abnormal activities early [3] Group 3: Future Directions - The State Administration of Foreign Exchange plans to further enhance the foreign exchange management system, focusing on convenience, openness, security, and intelligence [4] - Future efforts will include expanding the coverage of the reform to benefit more enterprises and integrating various facilitation policies [4] - The application of new technologies such as artificial intelligence and big data will be encouraged to improve efficiency in foreign exchange services [4]

Core Insights - The 19th Golden Fair's "Park Tour" event in Huangpu's Wuliqiao Street aims to deliver financial services directly to enterprises, marking the conclusion of this year's series of activities [1] - The event highlights the importance of the Golden Fair as a platform for financial services to support the real economy in Shanghai, aligning with Huangpu District's goals of optimizing the business environment and promoting high-quality development [1] Group 1 - The event focused on addressing the financial needs of small and micro enterprises, which remain largely untapped, with discussions on optimizing financial costs for companies like Shanghai KooBan Biotechnology Co., Ltd. and Shanghai Wind Leader New Energy Co., Ltd. [1] - Financial consultants from various institutions provided insights on supporting small and micro enterprises through comprehensive financial solutions, including debt financing and policy-backed guarantees [2] - The Golden Fair has evolved its format to enhance the connection between financial institutions and real enterprises, emphasizing the commitment of Shanghai's financial sector to serve the real economy [2]

Core Viewpoint - The meeting between Henan provincial leaders and the chairman of Bank of Communications emphasizes the importance of leveraging the bank's strengths for comprehensive financial cooperation in various sectors, including transportation infrastructure and rural revitalization [1] Group 1: Financial Cooperation - Henan provincial leaders expressed the hope that Bank of Communications will utilize its advantages as a large state-owned bank to engage in all-round financial cooperation [1] - The focus areas for cooperation include the construction of comprehensive transportation hubs, building a modern industrial system, and promoting rural revitalization [1] Group 2: Financial Ecosystem - The provincial government aims to continuously support the development of banks in Henan and optimize the financial ecosystem [1] - There is a commitment to creating a favorable business environment to enhance the accessibility and coverage of inclusive financial services [1]

Group 1 - The fund is named E Fund ChiNext 50 Exchange-Traded Open-Ended Index Fund Linked Fund, with A class code 026095 and C class code 026096 [20] - The fund is a contractual open-ended index fund and linked fund, with an indefinite duration [20] - The fund aims to closely track the performance benchmark, minimizing tracking deviation and tracking error [21] Group 2 - The initial fundraising cap for the fund is set at 8 billion RMB, excluding interest accrued during the fundraising period [2] - If the total valid subscription amount exceeds 8 billion RMB, the fund manager will implement a proportionate confirmation method to control the scale [2][3] - The calculation method for the proportionate confirmation on the last day is provided, ensuring that the total valid subscription amount is managed effectively [3] Group 3 - The fund will be publicly offered from December 1, 2025, to December 26, 2025, with the possibility of adjusting the fundraising period based on subscription conditions [4][23] - The minimum subscription amount for individual investors through non-direct sales institutions is set at 1 RMB, while the minimum for direct subscriptions is 50,000 RMB [5][6] Group 4 - The fund's investment target is to invest at least 90% of its net asset value in the target ETF [15] - The fund will not open conversion services between different share classes initially, but may do so in the future [2] Group 5 - The fund's underlying index is the ChiNext 50 Index, which consists of the top 50 stocks based on average daily trading volume over the last six months [9][10] - The index is calculated using a weighted method, ensuring real-time updates based on stock prices and weights [12]

黄叶峰表示，作为国有大行分支机构，交行海南省分行将充分发挥金融牌照与数字化服务优势，为学校提供全方位的金融服务支持，携手构建银校合作新范 式，实现共赢发展。 吕治国表示，此次合作将重点关注智慧校园建设，依托交行金融科技赋能智慧校园升级，推进教育、科技、人才"三位一体"协同融合发展，共同探索金融支 持海洋经济高质量发展的创新路径，为海南自由贸易港建设培育高素质专业化人才。 根据协议，双方将围绕校园支付结算等智慧校园建设、金融支持海洋产业创新、科研成果转化与人才培养等领域深化合作，充分发挥各自资源与专业优势， 为海南自由贸易港建设及海洋强国建设贡献力量。（叶文华） 编辑：赵鼎 转自：新华财经 11月24日，交通银行海南省分行（以下简称"交行海南省分行"）与海南热带海洋学院在海口举行交流座谈会，并正式签署银校合作协议。交行海南省分行党 委书记、行长黄叶峰，海南热带海洋学院校长吕治国出席座谈会并见证签约。交行海南省分行党委委员朱赫宇与海南热带海洋学院副校长那广水代表双方签 署合作协议。 ...

交通银行党委委员、副行长杨涛，交通银行公司与机构业务总监唐朔，省领导张敏、陈星参加会见。 （记者 刘婵 张笑闻） 责任编辑： 郭栩汝 11月25日，省委书记刘宁、省长王凯在郑州会见交通银行党委书记、董事长任德奇一行。 刘宁、王凯代表省委、省政府对任德奇一行表示欢迎，感谢交通银行给予河南发展的帮助支持。刘宁 说，当前，全省上下正在深入学习贯彻党的二十届四中全会精神和习近平总书记在河南考察时重要讲话 精神，聚焦"1+2+4+N"目标任务体系，着力稳就业、稳企业、稳市场、稳预期，全力打好经济发展冬春 季攻保战役。我们坚决贯彻习近平总书记关于金融工作的重要论述，认真落实党中央决策部署，扎实做 好金融"五篇大文章"，统筹做好金融扩规模、调结构、降成本、防风险各项工作，金融服务实体经济质 效持续提升。长期以来，交通银行积极融入河南、服务河南、建设河南，在促进地方经济发展、服务保 障民生等方面作出了贡献。希望交通银行充分发挥国有大行规模庞大、业务全面等优势，在综合交通枢 纽项目建设、现代化产业体系构建、推进乡村全面振兴等方面开展全方位金融合作，完善科技金融服务 体系，提升普惠金融覆盖面和可及性，共同谋划好"十五五"时期河南 ...