Group 1 - The former chairman of Zhongyin Securities, Ning Min, will return to the Bank of China headquarters, and Zhou Quan has been recommended as his successor [1] - Zhou Quan previously served as the general manager of the Asset and Liability Management Department at the Bank of China [1] - As of the end of Q1 this year, the Bank of China holds a 33.42% stake in Zhongyin Securities through its wholly-owned subsidiary, making it the largest single shareholder [1] Group 2 - Ning Min will take on the role of general manager of the Administrative and Institutional Department at the Bank of China, which focuses on serving government and institutional clients [2] - During Ning Min's tenure of approximately ten years at Zhongyin Securities, he successfully led the company to achieve A-share listing and implement a differentiated strategy [2] - Zhongyin Securities faced significant challenges in its early years, including a lack of capital and missed opportunities for growth during the industry's rapid development from 2005 [2] Group 3 - From 2015 to 2024, Zhongyin Securities' average ROE outperformed the industry by 0.76 percentage points [3] - In 2024, Zhongyin Securities reported a consolidated revenue of 2.888 billion yuan, a year-on-year decline of 1.79%, while net profit attributable to shareholders increased by 0.64% to 906 million yuan [3] - In Q1 2025, the company achieved revenue of 752 million yuan, a year-on-year increase of 22.12%, and net profit attributable to shareholders of 280 million yuan, up 38.60% [3]

中银国际证券股份有限公司 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。 证券代码：601696 证券简称：中银证券 公告编号：2025-017 委员会委员 二、离任对公司的影响 宁敏女士的辞任不会导致公司董事会成员低于法定最低人数，不会影响公司 董事会的正常运作，辞呈自送达公司董事会之日起生效。宁敏女士将按照公司相 关规定完成工作交接，并将继续遵守《上海证券交易所股票上市规则》等有关规 定及公司首次公开发行股票时所作的相关承诺。 宁敏女士于 2014 年 12 月 29 日加入公司担任执行总裁，于 2020 年 10 月任 党委书记、执行总裁，2022 年 4 月起任公司党委书记、董事长至今。宁敏女士 任职期间，积极贯彻国家战略，全力服务实体经济，围绕企业客户全生命周期服 务和个人客户资产配置服务两条发展主线践行金融工作的政治性和人民性，以高 质量党建引领高质量发展成效显著；成功推动公司上市，奠定公司长远战略发展 的根基；公司市场竞争力持续提升，核心财务指标跑赢行业，投资银行、资产管 理等核心业务位于行业前列；基于自身禀赋， ...

证券代码：601696 证券简称：中银证券 公告编号：2025-019 中银国际证券股份有限公司 关于周冰先生代为履行公司董事长、法定代表人 职责的公告 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。 中银国际证券股份有限公司（以下简称"公司"）董事长宁敏女士于 2025 年 6 月 23 日向公司董事会提交了书面辞职报告，其因工作调动原因提出辞去公 司董事、董事长、法定代表人职务，同时一并辞去公司董事会战略与发展委员会 主任委员、董事会风险控制委员会委员职务，详见《关于董事长离任的公告》（公 告编号：2025-017）。 为保证公司正常运作，根据《公司章程》有关规定，公司于 2025 年 6 月 23 日召开第二届董事会第三十六次会议，审议通过了《关于推举周冰先生代为履行 公司董事长、法定代表人职责的议案》。经全体董事推举，由公司董事、执行总 裁周冰先生代为履行董事长、董事会战略与发展委员会主任委员以及法定代表人 职责。 特此公告。 中银国际证券股份有限公司董事会 2025 年 6 月 23 日 ...

| | | | | | 是否继续在 | 是否存在 | | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 上市公司及 | 未履行完 | | | | | 到期日 | | 其控股子公 | 毕的公开 | | | | | | | 司任职 | 承诺 | | | 第二届董事会董 | | | | | | | | 事长、董事、战略 | | 第二届董 | | | | | | | 2025 年 6 | | | | | | 宁敏 | 与发展委员会主 | | 事会届满 | 工作调动 | 否 | 是 | | | | 月 日 23 | | | | | | | 任委员、风险控制 | | 之日 | | | | | | 委员会委员 | | | | | | 证券代码：601696 证券简称：中银证券 公告编号：2025-017 中银国际证券股份有限公司 关于董事长离任的公告 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。 中银国际证券股份有限公司（以下简称" ...

证券代码：601696 证券简称：中银证券 公告编号：2025-020 关于收到推荐董事长人选文件的公告 中银国际证券股份有限公司 特此公告。 中银国际证券股份有限公司董事会 2025 年 6 月 23 日 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。 近日，中银国际证券股份有限公司（以下简称"公司"）收到股东相关单位 文件，提名周权先生为公司董事候选人并推荐为董事长人选。 公司将按照相关法律、行政法规和《公司章程》的规定，尽快选举确认董事 长，并履行相应披露义务。根据公司第二届董事会第三十六次会议决议，在董事 会选举出新任董事长前，由公司董事、执行总裁周冰先生代行董事长、董事会战 略与发展委员会主任委员以及法定代表人职责。 ...

证券代码：601696 证券简称：中银证券 公告编号：2025-018 中银国际证券股份有限公司（以下简称"公司"）第二届董事会第三十六次会议于 2025 年 6 月 23 日以通讯表决方式召开，会议通知于 2025 年 6 月 23 日以电子邮件方式发 出。本次会议应参与表决董事 13 名，实际参与表决董事 13 名。本次董事会会议的召集、 召开符合有关法律、行政法规、部门规章、规范性文件和《中银国际证券股份有限公司章 程》的规定。本次会议审议并通过以下议案： 一、审议通过《关于推举周冰先生代为履行公司董事长、法定代表人职责的议案》 表决结果：同意【13】票；反对【0】票；弃权【0】票。 1 同意推举公司董事、执行总裁周冰先生代为履行董事长、董事会战略与发展委员会主 任委员以及法定代表人职责。详见公司于同日披露的《关于周冰先生代为履行公司董事长、 法定代表人职责的公告》。 特此公告。 中银国际证券股份有限公司董事会 2025 年 6 月 23 日 中银国际证券股份有限公司 第二届董事会第三十六次会议决议公告 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 ...

中银证券（601696）公告，公司董事会收到董事长宁敏递交的辞呈。宁敏因工作调动申请辞去公司第二 届董事会董事长、董事、战略与发展委员会主任委员、风险控制委员会委员职务，辞任后将不在公司担 任任何职务。宁敏自2014年12月29日加入公司，2020年10月任党委书记、执行总裁，2022年4月起任公 司党委书记、董事长至今。 ...

Report Industry Investment Rating - Not provided in the report Core Viewpoints - US retail data cooled in May, with the year-on-year increase in commodity retail data dropping from 5.0% in the previous month to 2.6%. The Fed's stance against inflation in the June meeting remained firm. The dot plot maintained the median forecast of two 25BP rate cuts this year, but the number of committee members inclined to two or more rate cuts decreased [2]. - The Middle East conflict reached a critical point. On June 21, the US attacked Iranian nuclear facilities. Iran's reaction could be the key to the short - term trends of the global energy and precious metals markets [2]. - The producer price index rebounded month - on - month. From June 16 to 21, the average wholesale price of pork decreased by 0.17% month - on - month and 17.78% year - on - year. The Shandong vegetable wholesale price index rose by 7.21% month - on - month and decreased by 0.69% year - on - year. In the week of June 13, the edible agricultural product price index decreased by 0.50% month - on - month and 5.62% year - on - year. Brent and WTI crude oil futures prices rose by 10.07% and 9.35% respectively on average month - on - month. The domestic cement price index decreased by 0.61% month - on - month, and the production material price index rose by 0.10% month - on - month and decreased by 9.83% year - on - year [2]. - From June 1 - 20, the average daily commercial housing transaction area in 30 large - and medium - sized cities tracked by Wind was about 244,000 square meters, compared with about 264,000 square meters per day in the same period in 2024 [2]. Summary by Relevant Catalogs High - Frequency Data Panoramic Scan - Includes data on US commodity retail and import year - on - year growth rates, Fed rate forecast dot plots, gold and crude oil spot prices, and high - frequency data weekly month - on - month changes [11][16][18]. - For high - frequency data weekly month - on - month changes, various indicators such as pork average wholesale price, edible agricultural product price index, and production material price index are presented with their current and previous values [18]. - High - frequency data panorama shows the year - on - year data of various indicators related to important macro - indicators, including LME copper spot settlement price, crude steel daily output, and PPI [19]. High - Frequency Data and Important Macro - Indicator Trend Comparison - Compares the year - on - year changes of various price indices (such as commodity price index, rebar price index) with PPI industrial year - on - year, as well as copper spot price year - on - year with industrial added value year - on - year (+PPI year - on - year) [24][29]. Important High - Frequency Indicators in the US and Europe - Covers US weekly economic indicators and actual economic growth rates, US initial jobless claims and unemployment rates, US same - store sales growth rates and PCE year - on - year, and Chicago Fed financial conditions index [85][87]. Seasonal Trends of High - Frequency Data - Analyzes the seasonal trends (month - on - month increases) of indicators such as crude steel (decadal) daily output, production material price index, and China's commodity price index [97][104]. High - Frequency Traffic Data in Beijing, Shanghai, Guangzhou, and Shenzhen - Presents the year - on - year changes in subway passenger traffic in Beijing, Shanghai, Guangzhou, and Shenzhen [155][156].

Core Viewpoint - The announcement of Huatai-PineBridge's flagship product, Huatai-PineBridge CSI 300 ETF, plans to distribute over 8.3 billion yuan in dividends, setting a new record for single dividend distribution in domestic ETFs, surpassing the previous record of 5.322 billion yuan held by E Fund's CSI 300 ETF [3][4] Fund Distribution Summary - As of June 10, the total dividend distribution of public funds in the year approached 100 billion yuan, with bond funds leading at 73.348 billion yuan, accounting for 76.69% of the total [2][4] - The bond funds had 2,087 distributions, showing a year-on-year increase of 27.54% [4] - QDII funds exhibited a remarkable growth rate of 1,777.66% in dividend distribution, becoming the biggest surprise of the year [2][4] Individual Fund Performance - Huatai-PineBridge CSI 300 ETF has a market size of 378.292 billion yuan and has distributed dividends 13 times since its inception in May 2012 [3] - The bond funds are recognized for their ability to provide stable cash flow, especially favored by institutional investors [4] - Stock funds distributed 13.018 billion yuan, with a significant increase of 148.41% in distribution frequency [4] - Mixed funds also saw a 162.81% increase, distributing 4.270 billion yuan [4] Management Company Performance - In terms of distribution frequency, Bosera Fund led with 148 distributions, followed by GF Fund with 129 distributions [5] - E Fund ranked third with 125 distributions, while the total amount distributed by E Fund reached 6.363 billion yuan [6][7] - Notably, Zhongyin Securities achieved 23.98 billion yuan in dividends with only 13 distributions, showcasing high efficiency [7] ETF and Bond Fund Insights - Broad-based ETFs and medium to long-term pure bond funds dominate the high dividend rankings, with Huatai-PineBridge CSI 300 ETF leading the way [8] - Among bond funds, 27 products distributed over 500 million yuan, with 21 being bond funds, highlighting their role as "cash cows" [8] - QDII funds are also gaining attention, with Guotai Nasdaq 100 Fund distributing 5.87 billion yuan, marking it as the only QDII product in the top 20 [9]

Group 1 - Global investors are increasingly optimistic about China, particularly in technology and new consumption sectors, with a significant potential for increasing exposure to Chinese stocks [1] - Morgan Stanley predicts that Hong Kong stocks and American Depositary Receipts (ADRs) will outperform A-shares by 2025, driven by AI and new consumption-related companies listed in Hong Kong [1] - The report suggests that the investability of China is improving, with a growing interest in artificial intelligence and technology themes [1] Group 2 - The founder of Renqiao Asset, Xia Junjie, expressed concerns about the overheating of the new consumption sector, citing significant stock price increases for companies like Bubble, Laopu, and Mixue [2] - Xia highlighted that the market valuations of these companies appear unreasonable compared to established brands, indicating a potential bubble in the new consumption space [2] - The report suggests that traditional consumer goods may be undervalued and presents opportunities for investment [2] Group 3 - Central Huijin has become the actual controller of eight companies, holding seven brokerage licenses, indicating a consolidation in the financial sector [3] - The establishment of the "Chengtong Science and Technology Innovation Investment Fund" marks a significant move in venture capital, with an initial scale of 10 billion yuan, focusing on new materials, advanced manufacturing, and information technology [5] - The fund aims to support early-stage technology innovation companies through a combination of equity investment and ecosystem incubation strategies [5] Group 4 - VAST, a 3D model company, secured tens of millions of dollars in Pre-A+ financing, led by the Beijing Artificial Intelligence Industry Investment Fund, to enhance its AI-driven 3D workspace [4] - The funding will be used to develop the Tripo series of large models and the Tripo Studio product, aiming to create a comprehensive ecosystem in the AI and 3D space [4] Group 5 - OpenAI announced its largest acquisition to date, acquiring AI hardware company io for $6.5 billion, with the deal expected to close by summer 2025 [7] - This acquisition aims to expand OpenAI's influence in the consumer market by developing innovative AI hardware products [7] Group 6 - Zhongyin Securities appointed its compliance director, Gai Wenguo, who has extensive experience in the financial sector, to enhance compliance oversight [8][10] - Tianfeng Securities received approval from the China Securities Regulatory Commission for a private placement of up to 4 billion yuan, indicating ongoing capital market activities [11][12][13]