Core Viewpoint - The dimmable automotive glass industry is accelerating, with significant growth expected in the future, particularly in the application of dimmable skylights that address previous concerns regarding sun protection and privacy features [1][2]. Industry Trends - Dimmable glass is transitioning from high-end luxury vehicles to mainstream models, with predictions that it will become a popular trend in new cars by 2025, as seen in models like the Zhiji L6 and Xiaomi YU7 [3]. - The penetration rate of dimmable skylights is expected to increase, driven by consumer demand for enhanced features and differentiation in a homogenized automotive market [2][3]. Market Potential - The domestic automotive dimmable film market is projected to reach 2.1 billion yuan by 2025, with long-term potential estimated at 21.4 billion yuan, primarily for use in skylights, rear side windows, and rear windshields [4]. - The PDLC (Polymer Dispersed Liquid Crystal) technology is leading in domestic production, with significant cost advantages and the ability to meet design requirements for curved surfaces, positioning it to dominate the future dimmable skylight market [3][4]. Competitive Landscape - The market for dimmable films is characterized by high technical barriers, with international suppliers currently dominating. However, domestic manufacturers are making strides in PDLC technology, while other technologies like EC (Electrochromic) remain largely foreign-controlled [4].

Group 1 - The core viewpoint is that the semiconductor materials industry is expected to benefit from a recovery in demand and the ongoing trend of domestic substitution, leading to growth opportunities in the sector [1][2][3] - The global semiconductor materials market is projected to reach approximately $67.5 billion in 2024, with a year-on-year growth of 3.8%, following a downturn in 2023 [2] - The domestic wafer manufacturing capital expenditure remains high, which, combined with the recovery in demand, is expected to drive stable growth in materials and other operational expenditure (Opex) businesses [2][3] Group 2 - The domestic semiconductor materials market has seen significant progress in domestic substitution, with over 40% localization rates in silicon wafers, wet electronic chemicals, CMP materials, and target materials [3] - In 2024, the total revenue of selected semiconductor materials companies in China is estimated to be around 34 billion yuan, reflecting a year-on-year increase of 20%, primarily driven by the recovery in downstream terminal demand [3] - However, the net profit for these companies is expected to decline by 35% year-on-year, largely due to losses from companies like Shanghai Silicon Industry and Li'an Micro, which are affected by intensified competition and falling silicon wafer prices [3]

Core Viewpoint - The chairman of Huafu Securities, Su Junliang, has resigned due to work reasons and has taken up a new position as the Party Secretary of Industrial Securities [1] Group 1 - Su Junliang submitted his resignation letter on June 12, 2023, requesting to step down from his roles including chairman of Huafu Securities [1] - Huafu Securities expressed heartfelt gratitude for Su Junliang's significant contributions to the company [1] - On June 11, 2023, Industrial Securities held a cadre meeting to announce Su Junliang's appointment as Party Secretary, following the resignation of the former Party Secretary, Yang Huahui, due to age-related reasons [1]

Group 1 - The A-share market has rebounded with a trading volume exceeding 1.2 trillion yuan, indicating a recovery in investor sentiment [1] - The leading securities ETF (560090) saw a significant increase in trading volume, rising by 1.65% with a turnover of nearly 95 million yuan, marking a 148% increase compared to the previous trading day [1][3] - Major components of the securities ETF index all experienced gains, with notable increases from Huaxin Co. and Dongwu Securities, both rising over 4% [3] Group 2 - In May 2025, fixed asset investment in China reached 191,947 billion yuan, reflecting a year-on-year growth of 3.7% [4] - The retail sales of consumer goods totaled 41,326 billion yuan in May, showing a year-on-year increase of 6.4% [4] - The industrial added value for large-scale enterprises grew by 5.8% year-on-year in May, indicating stable economic performance [4] Group 3 - The overall economic operation in May 2025 was stable, providing support for the upward movement of A-share listings [5] - The securities industry has shown significant recovery in performance, with a continuous increase in trading volume and a favorable policy environment [5][6] - The self-operated income of listed securities firms has maintained rapid growth, contributing to the overall performance recovery of the industry [5] Group 4 - The merger and acquisition market remains active, with several significant transactions and restructuring efforts underway, which are expected to enhance the synergy effects within the industry [6] - The valuation of the securities sector remains low, with the latest price-to-book ratio at 1.38x, indicating strong investment value [10] - The securities ETF (560090) tracks the CSI All Share Securities Companies Index, providing an efficient investment tool for exposure to the securities sector [10]

Core Viewpoint - The focus is on core leaders and marginal changes in the computer industry, emphasizing the importance of certainty in investment strategies as market risk appetite fluctuates towards the end of the half-year [2]. Group 1: Investment Strategy - The current position and holding levels in the computer sector are low, suggesting a strategy to invest in core leaders, particularly in AI and domestic sectors [2]. - It is recommended to increase positions in leading AI application segments, as the continuous iteration of large models and algorithmic equality accelerates AI application development [2]. Group 2: Industry Developments - The release of the Doubao 1.6 and the video generation model Seedance1.0 pro at the Volcano Engine Force conference is expected to accelerate the development of multimodal applications [2]. - There is potential for further liquidity easing in the context of global economic changes and the high-quality development of domestic financial markets, alongside opportunities for mergers, restructuring, and innovative businesses [2].

Group 1 - The company will hold its 2024 Annual General Meeting on June 23, 2025, with a record date for shareholders set for June 16, 2025 [1] - A temporary proposal has been added to the agenda, which involves the election of non-independent directors, proposed by the Fujian Provincial Finance Department, a shareholder holding 20.49% of the company's shares [1][2] - The meeting will take place at the company's headquarters in Fuzhou, Fujian Province, starting at 14:00 on June 23, 2025 [1] Group 2 - The network voting system will be available on the Shanghai Stock Exchange, with voting times set for June 23, 2025, during specific trading hours [1] - The original agenda announced on June 3, 2025, remains unchanged aside from the addition of the temporary proposal [1] - Shareholders associated with the Fujian Provincial Finance Department and other related entities are required to abstain from voting on certain proposals [3]

兴业证券股份有限公司 （SH601377） 2024 年年度股东大会资料 2025 年 6 月 23 日 2024 年年度股东大会资料之会议议程 兴业证券股份有限公司 2024 年年度股东大会议程 会议时间： 现场会议时间：2025 年 6 月 23 日 14:00 网络投票时间：采用上海证券交易所网络投票系统。通过交 易系统投票平台的投票时间为股东大会召开当日的交易时间段， 即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平 台的投票时间为股东大会召开当日的 9:15-15:00 会议地点： 福建省福州市鼓楼区湖东路 268号兴业证券大厦 9楼会议室 会议召集人：公司董事会 会议主持人：公司董事长 会议议程： 1 一、主持人宣布会议开始 二、宣布股东大会现场出席情况 三、审议议案（含股东发言提问环节） 四、推选监票人和计票人 五、投票表决 六、宣布投票结果 七、律师见证 八、主持人宣布会议结束 2024 年年度股东大会资料之会议须知 兴业证券股份有限公司 2024 年年度股东大会会议须知 为维护全体股东的合法权益，确保股东大会的正常秩序和议 事效率，保证大会的顺利召开，根 ...

证券代码：601377 证券简称：兴业证券 公告编号：临 2025-023 兴业证券股份有限公司 关于2024年年度股东大会增加临时提案的公告 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。 一、股东大会有关情况 (一)股东大会的类型和届次： 2024年年度股东大会 （二）股东大会召开日期：2025 年 6 月 23 日 （三）股权登记日 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | Ａ股 | 601377 | 兴业证券 | 2025/6/16 | 二、增加临时提案的情况说明 （一）提案人：福建省财政厅 （二）提案程序说明 公司已于2025 年 6 月 3 日公告了股东大会召开通知，单独持有20.49%股份 的股东福建省财政厅，在2025 年 6 月 13 日提出临时提案并书面提交股东大会召 集人。股东大会召集人按照《上市公司股东会规则》有关规定，现予以公告。 （三）临时提案的具体内容：公司拟于 2025 年 6 月 23 日召开的 2024 年年 度股东 ...

Fundraising Situation - The company raised a total of RMB 917.70 million from the issuance of 38.80 million shares at a price of RMB 60.84 per share, with the net proceeds verified by an accounting firm [2] - The funds are stored in a special account with a regulatory agreement in place to monitor their usage [2] Fund Usage - The company plans to use the raised funds for several projects, including the All-Spectrum Precision Lens Intelligent Manufacturing Base and AI Optical Sensing Device R&D, with a total investment of RMB 766.28 million and a fundraising allocation of RMB 657.35 million [2] - The company has approved the use of RMB 31.13 million to replace self-raised funds and plans to inject RMB 250 million into its wholly-owned subsidiary, Fuguang Tiantong [3] Project Adjustments - The company has made several adjustments to its projects, including changing the implementation location for the Prism Cold Processing Industrialization Project and extending the construction period for the AI Optical Sensing Device R&D project [4][5] - The company has also approved the termination of certain projects and the allocation of remaining funds for new investment projects [8] Use of Excess Funds - The company intends to use RMB 79.93 million of its excess funds for permanent working capital, which represents 29.98% of the total excess funds of RMB 266.62 million [11] - The company commits to not exceeding 30% of the total excess funds for permanent working capital within a 12-month period and will not engage in high-risk investments during this time [12] Approval Process - The board of directors has approved the use of excess funds for working capital, which will be submitted for shareholder approval [13] - The company has followed necessary procedures in compliance with relevant regulations regarding the use of excess funds [13]

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！ 摩根基金管理（中国）有限公司（以下简称"本公司"）已与山西证券股份有限公司（以下简称"山西证 券"）签订了基金销售代理协议，现决定自本公告之日起，新增山西证券为本公司以下基金的代销机 构。投资人可通过山西证券开展以下基金的申购、赎回、定期定额等相关业务。具体的业务流程、办理 时间和办理方式以山西证券的规定为准。 ■ 有关上述基金销售的具体事宜请仔细阅读上述基金的招募说明书、基金产品资料概要及基金合同等相关 法律文件。 投资者可通过以下途径咨询有关详情： 1、山西证券股份有限公司 客服电话：95573 公司网址：www.i618.com.cn 2、摩根基金管理（中国）有限公司 客服电话：400-889-4888 投资者可通过以下途径咨询有关详情： 1、兴业证券股份有限公司 特此公告。 摩根基金管理（中国）有限公司 二○二五年六月十三日 关于新增兴业证券股份有限公司为 摩根纳斯达克 100 指数型发起式证券投资 基金(QDII)人民币份额代销机构的公告 摩根基金管理（中国）有限公司已与兴业证券股份有限公司（以下简称"兴业证券"）签订了基金销 ...