登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601456 证券简称：国联民生 公告编号：2025-079号 国联民生证券股份有限公司发行股份购买资产并募集配套资金暨关联交易之 发行股份购买资产部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为1,770,705,604股。 本次股票上市流通总数为1,770,705,604股。 ● 本次股票上市流通日期为2026年1月5日。 一、本次限售股上市类型 国联民生证券股份有限公司（以下简称"公司"或"国联民生"）本次限售股上市流通类型为发行股份购买 资产并募集配套资金暨关联交易之发行股份购买资产部分限售股，具体如下： （一）发行股份购买资产股份注册情况 2024年12月27日，公司收到中国证券监督管理委员会出具的《关于同意国联证券股份有限公司发行股份 购买资产并募集配套资金注册、核准国联证券股份有限公司和民生证券股份有限公司变更主要股东、民 生基金管理有限公司和 ...

证券代码：601456 证券简称：国联民生 公告编号：2025-079 号 国联民生证券股份有限公司 发行股份购买资产并募集配套资金暨关联交易之 发行股份购买资产部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为 1,770,705,604股。 本次股票上市流通总数为1,770,705,604股。 本次股票上市流通日期为2026 年 1 月 5 日。 一、本次限售股上市类型 国联民生证券股份有限公司（以下简称"公司"或"国联民生"）本次限售股 上市流通类型为发行股份购买资产并募集配套资金暨关联交易之发行股份购买资 产部分限售股，具体如下： （一）发行股份购买资产股份注册情况 2024 年 12 月 27 日，公司收到中国证券监督管理委员会出具的《关于同意国 联证券股份有限公司发行股份购买资产并募集配套资金注册、核准国联证券股份 有限公司和民生证券股份有限公司变更主要股东、民生基金管理有限公司和民生 期货有限公司变更实际控制 ...

华泰联合证券有限责任公司 关于国联民生证券股份有限公司发行股份购买资产 并募集配套资金暨关联交易之 发行股份购买资产部分限售股上市流通的核查意见 华泰联合证券有限责任公司（以下简称"独立财务顾问""华泰联合证券"） 作为国联民生证券股份有限公司（以下简称"国联民生"、"公司"或"上市公 司"）发行股份购买资产并募集配套资金项目的独立财务顾问，根据《上市公司 重大资产重组管理办法》《上市公司并购重组财务顾问业务管理办法》等有关法 律、法规和规范性文件的规定，对国联民生发行股份购买资产部分限售股（以下 简称"本次限售股"）上市流通情况进行了核查，具体情况如下： 一、 本次限售股上市类型 国联民生本次限售股上市流通类型为发行股份购买资产并募集配套资金暨 关联交易之发行股份购买资产部分限售股，具体如下： （一）发行股份购买资产股份注册情况 2024 年 12 月 27 日，国联民生收到中国证券监督管理委员会出具的《关于 同意国联证券股份有限公司发行股份购买资产并募集配套资金注册、核准国联证 券股份有限公司和民生证券股份有限公司变更主要股东、民生基金管理有限公司 和民生期货有限公司变更实际控制人等的批复》（证监许可〔2 ...

南财智讯12月26日电，国联民生公告，本次限售股上市流通总数为17.71亿股，上市流通日期为2026年1 月5日。本次解禁股份为发行股份购买资产部分限售股，占公司总股本比例31.43%。相关股东均履行了 股份锁定承诺，中介机构对本次限售股上市流通无异议。 ...

Core Viewpoint - The recent appreciation of the Renminbi (RMB) against the US dollar, breaking the 7 mark for the first time in 14 months, is attributed to a combination of factors including a weaker dollar, changing market expectations, and seasonal trends in currency settlement [3][22]. Financial Market and Asset Prices - The current appreciation of the RMB is viewed as a corrective move rather than excessive, with the increase being justified from the perspectives of the dollar and interest rate differentials [3][22]. Trade Perspective - China's trade surplus has reached historical highs, suggesting that the RMB may have been undervalued prior to its recent appreciation [6][24]. Inflation Considerations - The widening gap between nominal and real RMB exchange rates indicates that the currency has depreciated less than expected, with domestic low inflation compensating for this [9][27]. Short-term Market Dynamics - The influence of trade and inflation on the economy is considered less significant in the short term, with the need for further observation of the RMB's impact on economic variables [10][28]. Risks of Panic Settlement - There is concern regarding the potential for "panic settlement" leading to excessive appreciation of the RMB, which could create self-reinforcing market expectations [10][28]. Future Outlook on Exchange Rate - Projections suggest that a reasonable level for the USD/RMB exchange rate in the coming year could be around 6.8, factoring in more flexible central bank controls [12][30]. Central Bank Management - The recent adjustments to the RMB's midpoint rate indicate the central bank's intention to temper appreciation, with tools available for managing exchange rate stability [15][33]. Additional Monetary Tools - The central bank may also consider necessary measures such as reserve requirement ratio cuts or interest rate reductions to counterbalance appreciation pressures [16][34].

每经AI快讯，兆驰股份（SZ 002429，收盘价：7.49元）发布公告称，2025年12月23日，兆驰股份接受 国联民生证券等投资者调研，公司副总经理兼董事会秘书单华锦女士参与接待，并回答了投资者提出的 问题。 2025年1至6月份，兆驰股份的营业收入构成为：电子制造及互联网服务占比100.0%。 截至发稿，兆驰股份市值为339亿元。 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 （记者 曾健辉） ...

Core Viewpoint - The article highlights the significant growth and strategic initiatives of Guolian Minsheng Securities in supporting private technology innovation enterprises, particularly in the Yangtze River Delta region, showcasing successful case studies like Haofan Bio and Haoyuan Pharmaceutical [5][6][17]. Group 1: Financial Performance - Guolian Minsheng's investment banking business reported a net income of 688 million yuan for the first three quarters of 2025, marking a year-on-year increase of 160.77% [5]. - The company's bond underwriting scale reached 48.38 billion yuan, reflecting a year-on-year growth of 147.5%, significantly outpacing industry growth rates [5]. Group 2: Company Initiatives - Haofan Bio is expanding its production capacity by 3 to 4 times with a new 230-acre facility set to be operational by June 2026 [5]. - Haoyuan Pharmaceutical is establishing five high-activity GMP production lines at its research center in Ma'anshan, aiming to accelerate the development of new molecular drugs [5][6]. Group 3: Industry Strategy - Guolian Minsheng emphasizes a strategy of "deep regional engagement + industry specialization," which has proven effective in addressing the challenges faced by private technology innovation enterprises [6][8]. - The firm has established 12 industry groups within its investment banking department to enhance its research capabilities and provide specialized services [8]. Group 4: Market Positioning - The article notes that Haofan Bio and Haoyuan Pharmaceutical are leaders in their respective fields, with a focus on long-term growth and innovation [11][17]. - Guolian Minsheng's investment banking team has successfully assisted Haoyuan Pharmaceutical in completing its initial public offering (IPO) and subsequent strategic initiatives, including mergers and acquisitions [12]. Group 5: Regional Focus - The Yangtze River Delta region is highlighted as a key area for technology innovation, with Guolian Minsheng actively providing financial services tailored to local industry needs [14][16]. - The firm aims to support high-quality development in the region by focusing on sectors such as biomedicine, semiconductors, artificial intelligence, and new energy [16][17].

葛小波 ◎记者 汤立斌 "近年来，资本市场一系列政策举措，从拓宽融资渠道、降低融资成本、优化市场环境等多方面，持续 提升科创企业的融资效力，促进了区域经济的协同发展。"国联民生总裁葛小波在接受上海证券报记者 专访时表示，在此背景下，证券公司需要深度嵌入产业链协同与区域创新生态，塑造与科创企业共生共 长共荣的关系，共筑新质生产力竞争壁垒。 在葛小波看来，资本市场在推动科技创新和产业创新融合发展的过程中发挥着重要枢纽功能，随着市场 制度的包容性与适应性不断提高，证券公司服务科技创新也被赋予了新的内涵和要求。 "首先是融资需求，企业在发展的不同阶段，需要不同类型的资金，如何助力其实现高效、便捷和低成 本的融资战略，是证券公司服务的主要内容。"葛小波表示，"其次是战略合作需求，证券公司帮助企业 融资仅仅是最基本的服务，更重要的是通过融资与战略伙伴建立起股权纽带关系。最后是并购需求，科 技企业通过并购实现规模扩张，构建第二发展曲线和产业链整合。" "在新形势下，只有在服务新质生产力和推动科技创新方面发挥出作用，形成自身的经营特色和服务能 力，证券公司才能在未来的竞争中立于不败之地。"葛小波说。 2024年4月，中国证监 ...

Group 1: Core Insights - The securities industry experienced a significant leadership turnover in 2025, with over 50 changes in chairpersons and general managers, marking a three-year high and indicating a governance transformation driven by mergers, equity changes, and generational shifts [1] - Mergers and acquisitions have become a key theme, with notable cases such as the merger of Guotai Junan and Haitong Securities, and the acquisition of Guorong Securities by Western Securities, which accelerated management restructuring [1] - The governance structure of newly merged entities is being redefined, exemplified by the leadership appointments in Guotai Haitong and Guolian Minsheng, which reflect a dual-track structure combining state-owned and professional management [1] Group 2: Talent Evolution - The turnover of executives is largely driven by retirement, with the "70s generation" becoming the backbone of management and the "80s generation" emerging in leadership roles [2] - Notable appointments include Qian Wenhai as chairman of Zhejiang Securities and the arrival of several "80s generation" chairpersons, indicating a shift towards younger leadership [2] - Companies are actively optimizing their business structures and recruiting new talent, as seen with Guosheng Securities hiring Zhao Jingliang as general manager [2] Group 3: Strategic Upgrades - New leaders are outlining strategic plans aimed at achieving international competitiveness, with a goal to develop 2 to 3 investment banks with global influence by 2035 [4] - Liu Cheng, chairman of CITIC Securities, aims to elevate the firm to a leading position within five years and achieve international competitiveness in the following five years [4] - The construction of a first-class investment bank is expected to be a core strategic focus during the 14th Five-Year Plan, with mergers and international expansion identified as key pathways [5]

年末的券商研究领域，在顶级评选的聚光灯下，上演着一出"荣耀与流动"的大戏。 2025年12月，被誉为"券商投研界风向标"的第23届新财富最佳分析师评选结果正式揭晓。然而，榜单新 鲜出炉之际，资本市场便传来重磅动态——多位刚捧起奖杯的获奖分析师，已悄然完成执业机构变更， 转身加盟新东家。 12月12日，证券从业系统显示，中泰证券（600918）4位分析师同一天离任。他们分别是：有色金属分 析师安永超、有色金属分析师刘耀齐、有色金属分析师陈凯丽、北交所和先进产业研究分析师蔡星荷。 而在此之前，中泰证券前副所长、有色金属首席分析师谢鸿鹤已在9月正式加入长城证券（002939）。 上述4人目前也无法在中证协系统查询到信息，但据记者了解，他们的去向很可能也是追随谢鸿鹤加入 长城证券。 剖析：跳槽新东家，放弃年终奖？ 这些分析师选择扎堆在年末跳槽，那么年终奖怎么办？就这么舍弃了？ 事实上，年终奖即是分析师"议价权"的典型代表之一。 天下熙熙，皆为利来。年末本是职场人"守成待奖"的关键期，为何券商明星分析师却扎堆"出走"？是新 平台的发展机遇足以覆盖年终奖的损失，还是背后藏着行业竞争的必然逻辑？他们放弃年终奖也要抓住 的" ...