Core Points - The board of directors of Zheshang Securities held its 40th meeting on January 16, 2026, to discuss and approve several key resolutions [1][2][4]. Group 1: Board Decisions - The board elected Qian Wenhai as the representative director to execute company affairs, with a term lasting until the end of the current board's tenure [2]. - The election received unanimous approval with 9 votes in favor, and no votes against or abstentions [3]. - The board confirmed the members and convener of the fourth audit committee, consisting of Zeng Aimin, Shen Si, and Wang Jun, with Zeng Aimin serving as the convener [5]. Group 2: Meeting Details - The meeting was convened in compliance with the Company Law and the company's articles of association, with 9 directors present, including 5 in person and 4 via communication [1][11]. - The meeting was chaired by Qian Wenhai and utilized a combination of in-person and online voting methods, adhering to legal and regulatory requirements [11][12]. - The meeting's proceedings were witnessed by legal representatives from Beijing Jiayuan Law Firm, confirming the legality and validity of the voting process [15].

Core Viewpoint - Zhejiang Securities announced the approval of the amendment to its Articles of Association during the first extraordinary shareholders' meeting of 2026 [2] Group 1 - The company held its first extraordinary shareholders' meeting of 2026 on January 16 [2] - The amendment to the Articles of Association was a key agenda item discussed and approved during the meeting [2]

Group 1 - The core point of the article is that Zhejiang Securities announced the approval of key resolutions during its fourth board meeting, including the election of a director to represent the company in executing company affairs and the confirmation of the members and convener of the audit committee [1] Group 2 - The company held its 40th meeting of the fourth board of directors on January 16 [1] - The resolutions passed are significant for the governance structure of the company, indicating ongoing organizational developments [1] - The announcement reflects the company's commitment to maintaining a structured and accountable board [1]

证券代码：601878 证券简称：浙商证券 公告编号：2026-005 浙商证券股份有限公司 2026年第一次临时股东会决议公告 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。 重要内容提示： (一) 股东会召开的时间：2026 年 1 月 16 日 (二) 股东会召开的地点：杭州市五星路 201 号浙商证券十一楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 二、 议案审议情况 审议结果：通过 表决情况： | | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | 股东类型 | 票数 | 比例 | 票数 | 比例 | 票数 | 比例 | | | | （%） | | （%） | | （%） | | A 股 | 2,180,199,543 | 99.6350 | 7,544,963 | 0.3448 | 439,908 | 0.0202 | (二) 涉及重大事项，5%以下股东的表决情况 本次会议是否有否决议案：无 一 ...

北京市嘉源律师事务所 关于浙商证券股份有限公司 2026年第一次临时股东会的法律意见书 OFFICES 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 2026年第一次临时股东会的法律意见书 嘉源(2026)-04-024 北京市嘉源律师事务所(以下简称"本所")接受浙商证券股份有限公司(以 下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公司法》")、 《上市公司股东会规则》(以下简称"《股东会规则》")等现行有效的法律、行政 法规、部门规章、规范性文件(以下简称"法律法规")以及《浙商证券股份有 限公司章程》(以下简称"《公司章程》")的有关规定,指派本所律师对公司 2026 年第一次临时股东会(以下简称"本次股东会")进行见证,并依法出具本法律 意见书。 为出具本法律意见书,本所指派律师现场见证了本次股东会,查阅了公司提 供的与本次股东会有关的文件和资料,并进行了必要的审查和验证。在前述审查 和验证的过程中,本所律师得到公司的如下承诺和保证:就本所认为出具本法律 意见书所必需审查的事项而言,公司已经提供了全部相关的原始书面材料、副本 材料或口头证言,该等资料均属真实、准确、 ...

证券代码：601878 证券简称：浙商证券 公告编号：2026-006 浙商证券股份有限公司 第四届董事会第四十次会议决议公告 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个别及连带责任。 二、审议通过《关于确认公司第四届董事会审计委员会成员及召集人的议 案》 因公司取消监事会后公司治理结构调整，公司董事会审计委员会职权范围变 化，公司董事会对第四届董事会审计委员会成员和召集人进行确认。 公司第四届董事会审计委员会成员仍为曾爱民、沈思、王俊，其中曾爱民担 任召集人，任期自本次董事会审议通过之日起至第四届董事会任期届满之日止。 公司董事会审计委员会中独立董事过半数并担任召集人，成员均为不在公司 担任高级管理人员的董事，审计委员会召集人曾爱民为公司独立董事且具备会计 专业资格，符合《上市公司审计委员会工作指引》《浙商证券股份有限公司章程》 等相关规定。 浙商证券股份有限公司（以下简称"浙商证券"或"公司"）第四届董事会 第四十次会议于 2026 年 1 月 12 日以书面方式通知全体董事，会议于 2026 年 1 月 16 日在浙商证券十 ...

Group 1 - The core business of Binhai Group is the sale of mid-to-high-end residential properties, with a strong brand influence in Hangzhou and the surrounding Yangtze River Delta region since its establishment [1] - From 2022 to 2025, Binhai Group is expanding its land reserves against the trend, maintaining total sales of over 100 billion yuan, positioning itself among the top ten real estate companies [1] - The supply side in Hangzhou is cautious, which is expected to help stabilize and recover housing prices in core areas, with the Binhai district potentially leading this recovery [1] Group 2 - A conservative profit forecast is provided for Binhai Group, with a valuation of 1.3x PB, projecting a net asset per share of 9.69 yuan by 2025, corresponding to a target price of 12.60 yuan and a PE ratio of approximately 12x [1] - The rating for Binhai Group is maintained as "Buy" [1]

当前时间点，从SEO到GEO，搜索逻辑已发生根本性转变，互联网正从"抢排名"的SEO时代进入"抢答 案"的GEO时代，权威信息如各类官媒的重要性，在大模型训练数据源和商业化角度上的重要性均明显 提高。 具体来说，权威媒体内容成为大模型构建知识体系的基础材料，决定信息节点位置和关联关系强弱。北 京南文技术团队分析发现，传统媒体内容在可信度评估中权重高达73%，远超自媒体内容从"被挤压"到 合作共赢，权威媒体提供可信内容，科技平台提供技术与流量，形成新的价值生态。目前已有较多大模 型企业主动寻求与权威媒体合作，以降低幻觉风险、提升内容质量。 智通财经APP获悉，浙商证券发布研报称，大模型的幻觉问题是伴随着人工智能底层技术路径与生俱 来，AI虚假信息数量激增的问题丞待解决，基座大模型预训练已进入瓶颈期，急需破解优质数据的可 持续供给难题。当前时间点，从SEO到GEO，搜索逻辑已发生根本性转变，互联网正从"抢排名"的SEO 时代进入"抢答案"的GEO时代，权威信息如各类官媒的重要性，在大模型训练数据源和商业化角度上的 重要性均明显提高。 浙商证券主要观点如下： 信息过载与质量危机 当前时间点，AI虚假信息数量激增，机 ...

Group 1 - The core point of the news is that Dazhong Laser's stock price increased by 5.23% to 47.06 CNY per share, with a trading volume of 1.711 billion CNY and a turnover rate of 3.91%, resulting in a total market capitalization of 48.453 billion CNY [1] - Dazhong Laser Technology Industry Group Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on March 4, 1999, with its listing date on June 25, 2004 [1] - The company's main business involves the research, development, manufacturing, and sales of laser processing equipment, with revenue composition being 68.71% from other intelligent manufacturing equipment and 31.29% from PCB intelligent manufacturing equipment [1] Group 2 - From the perspective of fund holdings, one fund under Zheshang Securities Asset Management has a significant position in Dazhong Laser, specifically the Zheshang Huijin Transformation Growth Fund (000935), which held 51,100 shares, accounting for 4.02% of the fund's net value, making it the fourth-largest holding [2] - The Zheshang Huijin Transformation Growth Fund (000935) was established on December 30, 2014, with a latest scale of 51.7885 million CNY, and has achieved a year-to-date return of 5.67%, ranking 3174 out of 8847 in its category [2] - The fund manager, Ma Binbo, has been in position for 8 years and 23 days, with the fund's total asset scale at 51.7961 million CNY, achieving the best return of 87.47% and the worst return of -43.63% during his tenure [2]

Group 1 - The core view is that the trend of residents moving savings from deposits to diversified assets like equities, gold, and insurance will continue into 2026, supported by improved fundamentals and declining deposit rates [1][6] - A-shares are expected to experience a main upward trend driven by liquidity and risk appetite, with a focus on technology growth sectors such as integrated circuits and advanced materials [1][6] - The long-term upward trend in gold prices is supported by two main factors: the ongoing devaluation of the dollar and the increasing demand for gold by central banks to mitigate risks [1][8] Group 2 - In 2026, the A-share market is anticipated to show a structural market characterized by low volatility dividends and technology growth, with key indices like the ChiNext and STAR Market expected to perform well [6] - The bond market is projected to experience a downward trend in interest rates, with the 10-year government bond yield expected to reach around 1.5% [7] - The RMB/USD exchange rate is expected to fluctuate around 7, with a potential high of 6.8 in the first half of 2026 [7] Group 3 - The overall outlook for commodities is bullish on precious and non-ferrous metals while bearish on crude oil, with a target price of $50 per barrel for WTI crude [9] - The 2026 GDP growth target is set at around 4.8%, with industrial growth policies expected to support this target [10][11] - The fiscal deficit is projected to be between 4.0% and 4.2%, with a total deficit scale of approximately 5.89 trillion to 6.19 trillion yuan [11] Group 4 - The expected new credit scale for 2026 is around 17.6 trillion yuan, with a year-end growth rate of 6.5%, while social financing is projected to increase by approximately 36.2 trillion yuan [16] - The real estate market is expected to maintain a strict control on new projects due to high inventory levels, with potential policy adjustments in major cities [18] - Key investment opportunities in 2026 are anticipated in technology and green industries, particularly in areas like artificial intelligence and renewable energy [19][20]