Group 1 - The fund will set a total scale limit of RMB 10 billion starting from June 30, 2025, to maintain the interests of fund shareholders and ensure stable fund operations [1][2] - If the total scale exceeds RMB 10 billion on a given day, the fund manager will confirm subscription applications on a pro-rata basis [1][2] - The calculation method for the subscription confirmation ratio is provided, ensuring transparency in the process [1][6] Group 2 - The fund will resume large subscriptions, including regular investment plans, starting from June 30, 2025, lifting the previous limit of RMB 100 on single-day subscriptions [4][5] - A new total scale limit of RMB 8 billion will be implemented, with similar pro-rata confirmation principles applied if the limit is exceeded [4][5] - Investors can consult the fund manager's website for information on confirmation ratios and any adjustments to scale control measures [2][6] Group 3 - The announcement includes the addition of Everbright Securities as a sales agent for the Wanji Stable Bond Fund, effective from July 7, 2025 [9][10] - The fund will be publicly offered from July 7 to July 25, 2025, allowing investors to subscribe through Everbright Securities [9][10]

港股证券板块午后走弱，胜利证券(08540.HK)跌超11%，国泰君安国际(01788.HK)跌超10%，国联民生 (01456.HK)、光大证券(06178.HK)等跟跌。 ...

证券代码：601788 股票简称：光大证券 公告编号：临 2025-020 H 股代码：6178 H 股简称：光大证券 光大证券股份有限公司 关于修订《公司章程》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。 光大证券股份有限公司（以下简称公司）第七届董事会第八次会 议于 2025 年 6 月 25 日审议通过了《关于修订 <光大证券股份有限公> 司章程>及其附件的议案》 ，拟根据《中华人民共和国公司法》及中国 证监会配套制度规则、 《境内企业境外发行证券和上市管理试行办法》 等相关规定修订《公司章程》及其附件《股东大会议事规则》 《董事 会议事规则》 ，并废止附件《监事会议事规则》 。具体修订情况请见附 件修订对照表。 除上述修订外，本公司现行《公司章程》及其附件其他条款不变。 本次《公司章程》及其附件修订尚需公司股东大会审议。 特此公告。 附件：修订对照表 光大证券股份有限公司董事会 附件： 《光大证券股份有限公司章程》修订对照表1 序号 修改前 修改 后 依据 第一条 为维护光大证券股份有限公司（以下简称"公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 公告 建議修訂公司章程 光大證券股份有限公司（「本公司」）第七屆董事會第八次會議於2025年6月25日審 議通過了《關於修訂<光大證券股份有限公司章程>及其附件的議案》，擬根據《中 華人民共和國公司法》及中國證券監督管理委員會配套制度規則、《境內企業境外 發行證券和上市管理試行辦法》等相關規定對本公司的公司章程（「公司章程」）及 其附件《股東大會議事規則》《董事會議事規則》進行修訂，並廢止附件《監事會議 事規則》。具體內容請見本公告附件中所載之修訂對照表。除該等修訂外，公司章 程及其附件其他條款不變。 本次公司章程及其附件的修訂尚需本公司股東大會審議及批准。本公司將適時刊 發載有（其中包括）該等修訂議案詳情的通函及股東大會通告。 承董事會命 ...

证券代码：601788 股票简称：光大证券 公告编号：临 2025-020 H 股代码：6178 H 股简称：光大证券 光大证券股份有限公司 关于修订《公司章程》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。 | 序号 | 修改前 | 修改后 | 依据 | | --- | --- | --- | --- | | | 第一条 为维护光大证券股份有限公司（以下简称"公司"）、 | 第一条 为维护光大证券股份有限公司（以下简称"公司"）、 | 《上市公司章程指引》第 | | | 股东和债权人的合法权益，规范公司的组织和行为，根据《中 | 股东、职工和债权人的合法权益，规范公司的组织和行为，根 | 一条 | | | 华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 | 据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 | | | | 共和国证券法》（以下简称"《证券法》"）、《国务院关于股份 | 华人民共和国证券法》（以下简称"《证券法》"）、《国务院关 | 《国务院关于股份有限公 | | | 有限公司境 ...

证券代码：601788 股票简称：光大证券 公告编号：临 2025-019 H 股代码：6178 H 股简称：光大证券 本议案尚需提交公司股东大会审议。 1 光大证券股份有限公司 第七届董事会第八次会议决议公告 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、准确性和完整性承 担法律责任。 光大证券股份有限公司（以下简称公司）第七届董事会第八次会 议通知于 2025 年 6 月 20 日以电子邮件方式发出。会议于 2025 年 6 月 25 日上午 9:30 以现场、视频结合通讯方式召开。本次会议应到董 事 12 人，实到董事 12 人。其中，赵陵先生、连涯邻先生现场参会； 刘秋明先生、马韧韬女士、潘剑云先生、任永平先生、殷俊明先生、 吕随启先生以视频方式参会；尹岩武先生、秦小征先生、刘应彬先生、 陈选娟女士以通讯方式表决。赵陵先生主持本次会议，公司监事长和 部分监事、高管列席会议。本次会议符合《中华人民共和国公司法》 和《公司章程》关于召开董事会的规定。 公司董事经认真审议，通过了以下决议： 一、审议通过了《关于修订<光大证券股份有限公司章程>及其附 件 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 中國上海 2025年6月26日 於本公告日期，本公司董事會成員包括趙陵先生（董事長、執行董事）、劉秋明先 生（執行董事、總裁）、馬韌韜女士（非執行董事）、連涯鄰先生（非執行董事）、潘 劍雲先生（非執行董事）、尹岩武先生（非執行董事）、秦小徵先生（非執行董事）、 任永平先生（獨立非執行董事）、殷俊明先生（獨立非執行董事）、劉應彬先生（獨 立非執行董事）、陳選娟女士（獨立非執行董事）及呂隨啟先生（獨立非執行董事）。 证券代码：601788 股票简称：光大证券 公告编号：临 2025-019 H 股代码：6178 H 股简称：光大证券 光大证券股份有限公司 第七届 ...

Core Viewpoint - The domestic excavator sales in May 2025 are under short-term pressure due to weak downstream construction activity and the earlier high growth in sales that has overstated future demand [1][2] Group 1: Sales Performance - In the first five months of 2025, China's excavator sales (including exports) reached 101,716 units, a year-on-year increase of 17.4%, with domestic sales at 57,501 units, up 25.7% [1] - In May 2025, excavator sales (including exports) totaled 18,202 units, a year-on-year increase of 2.1%, while domestic sales were 8,392 units, showing a decline of 1.5% [1] - The average working hours for major construction machinery products in May 2025 were 84.5 hours, down 3.9% year-on-year and 6.3% month-on-month [1] Group 2: Future Outlook - The company remains optimistic about the continuous growth in the replacement of construction machinery, which is expected to support future excavator sales, with a projected compound growth rate of around 30% for replacement demand in the coming years [2] - The government plans to issue 1.3 trillion yuan in special bonds and increase local government special bonds to 4.4 trillion yuan, which is expected to stimulate infrastructure investment and subsequently boost equipment demand [3] Group 3: Export Trends - In the first five months of 2025, excavator exports reached 44,215 units, a year-on-year increase of 8.2%, with May exports at 9,810 units, up 5.4% [4] - The company sees opportunities in Southeast Asia, Africa, and the Middle East for construction machinery exports, despite challenges such as the changing geopolitical landscape and uncertainties related to US-China tariffs [4] Group 4: Electrification Trends - In the first five months of 2025, electric loader sales surged to 10,904 units, a remarkable year-on-year increase of 207.7%, with an electrification rate of 20.7%, up 14.5 percentage points [5] - The government emphasizes green transformation and the promotion of electric machinery, which is expected to accelerate the electrification process in the construction machinery sector, enhancing revenue and profits for manufacturers [5]

Group 1 - The report from Everbright Securities indicates a positive outlook for the domestic urban intelligent driving penetration rate, expecting a turning point in 2025E and rapid growth thereafter in 2026E and beyond [1] - The focus for the L2+ market is on promoting affordable intelligent vehicles priced between 100,000 to 200,000 yuan, while the L4 market is centered on the breakthrough of commercial scale for Robotaxi [1] - Recommendations include Tesla and the steering supplier Nextracker for L4 pure vision Robotaxi commercialization, as well as Xpeng Motors, with a suggestion to pay attention to Li Auto, NIO, and Pony.ai [1] Group 2 - The acceleration of Robotaxi commercialization is nearing a scale-up inflection point, with significant breakthroughs in order volumes and external collaborations among leading global Robotaxi companies since the second half of 2024 [1] - The report suggests that the core methodology for achieving L4 may involve reinforcement learning combined with world models, contrasting with L2+ which primarily relies on imitation learning [2] - The complexity of L4 implementation is expected to increase due to challenges in data construction, algorithm development, and the need for substantial computational resources [2] Group 3 - The report highlights that the dual paths of lidar and pure vision technology will continue from L2+ to L4, despite the drawbacks of lidar technology such as delays and conflicts in multi-sensor fusion [3] - The key to achieving commercial scalability for L4 lies in technological upgrades and cost reductions, as hardware costs are expected to rise [3] - The VLA (Vision-Language-Action) model combined with world models is anticipated to be a mainstream trend in the intelligent driving industry, although it has not yet been fully realized [4]

Group 1 - The core viewpoint is that the securities sector is experiencing a strong performance, with the National Securities Leader Index rising by 2.31% and several key stocks, including China Galaxy and Dongfang Caifu, showing significant gains [1][2] - The Securities ETF Leader has seen continuous net inflows over the past six days, with a maximum single-day net inflow of 146 million yuan, totaling 474 million yuan, averaging 78.92 million yuan per day [1] - Multiple securities firms are actively issuing technology innovation bonds, with a total approved issuance limit of up to 93.8 billion yuan from five firms, including CITIC Securities and Guotai Junan Securities [1] Group 2 - Open Source Securities highlights that the valuation of the brokerage sector and institutional holdings are at low levels, with macro-level measures supporting the stock market, leading to a positive outlook for the sector [2] - The three main lines of opportunity identified are retail brokerages with performance elasticity, financial technology targets, and the Hong Kong Stock Exchange benefiting from the expansion and increased activity of IPOs [2] - As of May 30, 2025, the top ten weighted stocks in the National Securities Leader Index account for 80.15% of the index, with key players including Dongfang Caifu and CITIC Securities [2]