Core Points - Zhejiang Securities has received approval from the Shenzhen Stock Exchange to conduct a pilot program for financing the exercise of stock options for listed companies [1] Group 1 - Zhejiang Securities announced on October 24 that it has received a letter from the Shenzhen Stock Exchange granting permission to carry out a pilot program for financing the exercise of stock options [1]

证券代码：601878 证券简称：浙商证券 公告编号：2025-060 浙商证券股份有限公司 关于召开2025年第三次临时股东会的通知 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、 召开会议的基本情况 (一)股东会类型和届次 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 10 日 09 点 30 分 召开地点：杭州市五星路 201 号浙商证券十一楼会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 股东会召开日期：2025年11月10日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 10 日 至2025 年 11 月 10 日 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 东会召开当日的交易时间段，即 9:15-9:25，9:30-11: ...

浙商证券股份有限公司 2025 年第三次临时股东会 会议资料 浙商证券股份有限公司董事会 二〇二五年十一月 1 2025年第三次临时股东会议程 现场会议时间：2025年11月10日上午09:30 现场会议地点：杭州市五星路201号浙商证券十一楼会议室 主持人：董事长吴承根 一、宣布会议开始 七、投票表决 八、会场休息（统计现场、网络投票结果） 九、宣布会议表决结果 十、律师宣布法律意见书 十一、宣布会议结束 2 二、宣布出席现场会议的股东人数、代表股份数 三、介绍现场参会人员、列席人员 四、推举现场计票人、监票人 五、审议议案 六、股东发言及公司董事、高管人员回答股东提问 会议须知 为维护股东的合法权益，确保浙商证券股份有限公司（以下简称 "公司"）2025年第三次临时股东会（以下简称"本次会议"）的正 常秩序和议事效率，根据《公司法》《上市公司股东会规则》等法律、 法规和《公司章程》等规定，现就会议须知通知如下： 一、本次会议期间，全体参会人员应维护股东的合法权益、确保 大会的正常秩序和议事效率，自觉履行法定义务。 二、为保证本次会议的严肃性和正常秩序，除出席现场会议的股 东及股东代理人（以下简称"股东"） ...

证券代码：601878 证券简称：浙商证券 公告编号：2025-059 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 第三十六次会议于 2025 年 10 月 20 日以书面方式通知全体董事，2025 年 10 月 22 日发出补充通知，于 2025 年 10 月 24 日在浙商证券十一楼会议室以现场结合 通讯表决方式召开。会议应出席董事 9 人，实际出席董事 9 人，其中现场出席董 事 6 人，董事阮丽雅、陈溪俊、金雪军以通讯形式出席。会议的召开符合《公司 法》和《公司章程》规定。公司高级管理人员列席会议。 第四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、准确性和完整性承担个别及连带责任。 经审议，作出决议如下： 一、审议通过《关于选举公司董事长的议案》 浙商证券股份有限公司 经本次中期调整后，2025 年度捐赠计划金额投入不超过 1,290 万元，较年 初捐赠计划金额增加 95 万元。其中公益性捐赠 685 万元，相较年初增加 130 万 元，救济性捐赠 605 万元，相较年初增加 165 万元 ...

关于获批上市公司股权激励行权融资业务试点的公告 2025 年 10 月 25 日 公司将严格遵守该函的有关要求：（一）强化风险管理：设置差异化的风控 措施、完善客户授信额度管控、强化对标的证券的风险管理和担保物管理、完善 风控措施和指标、明确标的证券退市的业务处置。（二）加强业务管控：充分认 证业务可行性、优化客户适当性管理安排、完善违约处置流程和清算交收及报告 流程。在试点期间，公司将进一步完善股权激励行权融资业务方案，做好信息披 露及技术测试工作，按时报送数据并及时报送重大情况。 证券代码：601878 证券简称：浙商证券 公告编号：2025-061 特此公告。 浙商证券股份有限公司 浙商证券股份有限公司董事会 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。 浙商证券股份有限公司（以下简称"公司"）于近日收到深圳证券交易所《关 于同意浙商证券开展上市公司股权激励行权融资业务试点的函》（深证函〔2025〕 1003 号），同意公司开展上市公司股权激励行权融资业务试点。 ...

Group 1 - The core point of the article highlights the decline in the stock price of Shuotai Shen, which fell by 5.01% to 33.75 CNY per share, with a trading volume of 814 million CNY and a turnover rate of 5.20%, resulting in a total market capitalization of 16.125 billion CNY [1] - Shuotai Shen (Beijing) Biopharmaceutical Co., Ltd. is primarily engaged in the research, production, and sales of biological products and some chemical drugs, with its main revenue sources being: 59.17% from injectable mouse nerve growth factor (Sutai Sheng), 33.19% from compound polyethylene glycol electrolyte powder, and 7.63% from other products [1] Group 2 - From the perspective of major fund holdings, Zhejiang Merchants Securities Asset Management has a fund that heavily invests in Shuotai Shen, specifically the Zhejiang Merchants Huijin Quantitative Selected Mixed Fund (006449), which held 143,900 shares in the second quarter, accounting for 5.18% of the fund's net value, making it the second-largest holding [2] - The Zhejiang Merchants Huijin Quantitative Selected Mixed Fund (006449) has a current scale of 1.04 billion CNY and has achieved a return of 62.7% this year, ranking 329 out of 8,154 in its category, with a one-year return of 42.33%, ranking 1,111 out of 8,025 [2]

Core Insights - The report studies a paper titled "(Re-)Imag(in)ing Price Trends," which presents a method for K-line image recognition and trend prediction based on convolutional neural networks (CNN), aiming to localize this approach for the domestic market [1] Group 1: Research Background - The paper automates the visual analysis process of K-line charts, addressing limitations in traditional financial models that rely on subjective human experience [11][14] - The innovative approach utilizes machine learning to discover predictive patterns from data without pre-setting specific models, aligning more closely with how traders analyze charts [11][14] Group 2: Model Essence - The first step involves generating standardized K-line technical charts from historical market data, utilizing daily frequency data from the CRSP database covering 1993-2019 [11][12] - The CNN model is designed to automatically extract local features through convolution and pooling operations, with a focus on predicting future return directions rather than precise values [14][18] Group 3: Empirical Results - The model demonstrates strong predictive accuracy, achieving a 53.3% accuracy rate for predicting 20-day returns, significantly outperforming random guessing [19][20] - In portfolio construction, a long-short strategy based on 20-day images yields an annualized Sharpe ratio of 2.2, far exceeding traditional momentum strategies [22][24] Group 4: Practical Application - The model's transferability is validated, showing that a model trained on U.S. stocks can be applied to 26 other countries, often outperforming locally trained models [25][28] - Initial applications in the domestic market using data from 20 major ETFs since 2020 achieved a classification accuracy of 55.3%, indicating the model's ability to extract valuable information from K-line images [37][39] Group 5: Investment Practice - The report proposes a localized model construction process, emphasizing the importance of data diversity to avoid overfitting and enhance the model's learning capabilities [35][36] - The model's design includes data cleaning, standardization, and the generation of 2D images from raw price-volume data, followed by training using a deep learning framework [36][37]

Core Viewpoint - TaoTao Automotive's profit growth accelerated in the third quarter, with a year-on-year increase of 121% in net profit attributable to shareholders, achieving a total of 610 million yuan in net profit for the first three quarters, representing a 101% year-on-year growth [1] Group 1: Financial Performance - The company reported a net profit attributable to shareholders of 610 million yuan for the first three quarters, marking a 101% year-on-year increase [1] - In the third quarter alone, the net profit attributable to shareholders grew by 121% year-on-year [1] Group 2: Strategic Initiatives - The company plans to conduct its initial public offering (IPO) of H-shares and list on the Hong Kong Stock Exchange to enhance its global strategic layout and international brand influence [1] - The IPO aims to improve the company's overseas financing capabilities and create an international capital operation platform [1] Group 3: Market Opportunities - The company is expected to strengthen its market position due to a dual-driven approach of demand and supply [1] - There is still room for expansion in usage scenarios, ranging from private and household to commercial applications [1] - As of June 2025, the company has made initial inroads into sports venues, with two small-scale entries [1] Group 4: Technological Advancements - The company is advancing its smart technology initiatives through various collaborative efforts [1] - The overall push for intelligent solutions is a key focus area for the company [1]

Group 1 - The core viewpoint of the news is that Hefei Huoan Intelligent Manufacturing Co., Ltd. has seen a significant increase in its stock price, with a rise of 5.02% to 24.50 CNY per share, and a total market capitalization of 12.113 billion CNY [1] - The company specializes in the research, production, and sales of forging equipment and intelligent detection and sorting equipment, with its main business revenue composition being: color sorters 49.80%, hydraulic presses 30.93%, mechanical presses 14.87%, and others 3.62% [1] - The trading volume for the stock reached 2.557 billion CNY, with a turnover rate of 22.37% [1] Group 2 - From the perspective of fund holdings, Zhejiang Merchants Securities Asset Management has a fund that heavily invests in Hefei Huoan, specifically the Zhejiang Merchants Huijin Quantitative Selected Mixed Fund (006449), which held 295,000 shares, accounting for 4.44% of the fund's net value [2] - The fund has achieved a year-to-date return of 65.84%, ranking 307 out of 8159 in its category, and a one-year return of 45%, ranking 998 out of 8030 [2] - The fund manager, Pang Yaqing, has been in charge for 1 year and 269 days, with the best fund return during this period being 76.37% [3]

资料显示，香农芯创科技股份有限公司位于深圳市南山区海德三道166号航天科技广场B座22楼，成立 日期1998年9月16日，上市日期2015年6月10日，公司主营业务涉及电子元器件分销。主营业务收入构成 为：电子元器件分销业务97.03%，电子元器件制造业务1.93%，减速器业务0.93%，其他(补充)0.11%。 从基金十大重仓股角度 10月23日，香农芯创跌5.09%，截至发稿，报102.23元/股，成交26.25亿元，换手率5.57%，总市值 474.12亿元。 浙商汇金转型成长（000935）成立日期2014年12月30日，最新规模3898.75万。今年以来收益37.07%， 同类排名1839/8159；近一年收益27.85%，同类排名2570/8030；成立以来收益32.4%。 浙商汇金转型成长（000935）基金经理为马斌博。 截至发稿，马斌博累计任职时间7年303天，现任基金资产总规模3897.17万元，任职期间最佳基金回报 78.16%， 任职期间最差基金回报-43.63%。 责任编辑：小浪快报 数据显示，浙商证券资管旗下1只基金重仓香农芯创。浙商汇金转型成长（000935）二季度持有股数 3. ...