在建设金融强国的时代征程中，扎实服务国内实体经济始终是投资银行的立身之本与使命所系。作为资 本市场的"看门人"和资源配置的关键枢纽，投行肩负着联通实体企业融资需求与资本市场资金供给的桥 梁作用。通过深度发挥资本中介功能，投行不仅助力提升金融资源的配置效率，更以全生命周期的综合 金融体系，精准服务国家战略，无论是科技创新、绿色低碳转型，还是先进制造、数字经济等关键领 域，均能提供从早期私募股权融资、上市到并购重组、再融资等一揽子解决方案，切实赋能企业借助资 本市场做强做优做大，筑牢高质量发展的基础。 21世纪经济报道记者 崔文静 当前，我国正加速迈向"金融强国"的新征程。作为资本市场的核心中介与关键枢纽，证券行业被赋予更 高期望：不仅要更高效地服务实体经济，还要在全球金融舞台上争取更大话语权。如何平衡"立足本 土"与"竞逐全球"这双重使命，成为券业发展的重要议题。 近日，21世纪经济报道记者专访了中金公司（601995）党委副书记、副董事长、总裁王曙光。他明确指 出，服务国内实体经济与争夺全球金融定价权是"双向赋能"、协同共进的关系。唯有深耕本土，才能锻 造国际竞争的核心能力；同时，只有争取全球定价权，才能反哺 ...

Core Viewpoint - The A-share market is expected to recover steadily in 2026, driven by policy support, profit recovery, and global liquidity easing, with a focus on new trends and opportunities in various sectors [1][2]. Group 1: Market Outlook - Institutions generally hold a positive outlook for the A-share market in 2026, anticipating a "slow bull" market supported by increased domestic and foreign capital inflows, corporate profit recovery, and enhanced policy measures [1][2]. - The expected net profit growth for listed companies in 2026 is around 4.8%, with a potential for an additional 10% valuation expansion under optimistic scenarios [3]. Group 2: Industry Allocation Recommendations - Key investment themes for 2026 include technology and consumer sectors, with a consensus on the growth potential from overseas expansion [1][2]. - Specific focus areas include resource and traditional manufacturing upgrades, globalization of Chinese companies, and the expansion of AI applications [2][4][6]. - The "old economy" sectors, particularly high-quality leading companies in energy, consumption, and real estate, are also seen as having significant investment value [12]. Group 3: Strategic Insights from Analysts - Analysts from various firms emphasize the importance of a balanced approach to investment, with a focus on both growth and value strategies, particularly in technology and traditional sectors [12][14]. - The ongoing AI revolution and its commercialization are highlighted as critical drivers for future growth, with specific attention to sectors like machinery, renewable energy, and innovative pharmaceuticals [5][6][10].

中国经济网北京12月30日讯 厦门港务（000905）(000905.SZ)今日披露《关于发行股份及支付现金购买 资产并募集配套资金事项获得深圳证券交易所并购重组审核委员会审核通过的公告》。 最终发行价格将在本次交易经深交所审核通过并经中国证监会注册后，按照相关法律、法规的规定和监 管部门的要求，由董事会及董事会授权人士根据股东大会的授权与本次发行的主承销商根据竞价结果协 商确定。 本次募集配套资金总额不超过350,000.00万元，不超过本次交易中以发行股份方式购买资产的交易价格 的100%，且股份发行数量不超过发行股份及支付现金购买资产完成后上市公司总股本的30%。 公告称，深圳证券交易所并购重组审核委员会于2025年12月29日召开2025年第17次并购重组审核委员会 审议会议，对公司本次交易的申请进行了审议。根据深圳证券交易所并购重组审核委员会发布的《深圳 证券交易所并购重组审核委员会2025年第17次审议会议结果公告》，本次会议的审议结果为：本次交易 符合重组条件和信息披露要求。 厦门港务12月23日披露《发行股份及支付现金购买资产并募集配套资金暨关联交易报告书(草案)(上会 稿)》。本次交易由发行 ...

Core Insights - The "Wealth Management Fuzhou Summit (2025)" and the release of the "China Asset Management Industry Development Research Report 2025" aim to provide important references for policy-making and industry practices, promoting higher quality and sustainable development in China's wealth management sector [1] Group 1: Industry Trends and Challenges - The report highlights that in 2024, China's asset management industry will face pressures from demand contraction, supply shocks, and weakened expectations, leading to a deep transformation under regulatory guidance [3] - The current systemic issue of "high savings - financing difficulties - asset scarcity" is attributed to the failure of financial intermediaries to convert risk into returns, necessitating a transformation in the wealth management system [2] Group 2: Asset Management Sector Analysis - The banking wealth management sector is experiencing steady growth but faces challenges such as declining yields, requiring optimization of product layouts and enhanced customer management [4] - The securities company's asset management is recovering under a "public + private" dual-drive model, but faces issues of product homogeneity that need improvement in research capabilities [4] - The insurance asset management sector is benefiting from policy incentives and improved market conditions, showing a diverse landscape with "leading comprehensive firms and specialized smaller firms" [4] Group 3: Strategic Recommendations - Asset management institutions are encouraged to adopt multi-asset, multi-market, and multi-strategy configurations to diversify risks and enhance return resilience, particularly by capitalizing on AI-related industries [2] - Wealth management institutions should act as "connectors" for resource allocation, allowing more asset types into investment scopes while optimizing tax incentives and improving multi-tiered capital markets [2] - Internet wealth management platforms should foster a shift in client investment philosophy from short-term speculation to long-term asset allocation through intelligent advisory services [4]

Group 1: Space Computing Industry - The space computing industry is accelerating its development, aiming to create an integrated computing architecture that utilizes solar energy and ultra-low temperature environments to significantly reduce latency and data transmission volume [2] - Upstream, SpaceX's Starlink V3 satellites have improved performance, and their reusable technology continues to lower costs. China's rocket recovery attempts, although unsuccessful, are crucial for technological exploration [2] - In the midstream operations, Starlink relies on phased array, dynamic scheduling, and laser link core technologies, having formed a large-scale commercial constellation that has been validated in practical applications [2] Group 2: Intelligent Driving Industry - The intelligent driving industry is expected to see significant growth, with Tesla leading a transformation in physical AI by 2026. The business model is shifting from hardware sales to software subscriptions and mobility operations [3] - Within 2-3 years, breakthroughs in L3 conditional and L4 autonomous driving technologies are anticipated, with the Robotaxi business model expected to become viable, concentrating the industry value chain towards intelligent driving solution providers and mobility platforms [3] - Companies with integrated hardware and software solutions, as well as those producing autonomous components like lidar and drive-by-wire systems, are likely to see a revaluation of their technological attributes [3] Group 3: Chinese Securities Industry - The growth of the Chinese securities industry is benefiting from economic development and capital market reforms, with leading domestic brokerages expected to accelerate their progress towards becoming world-class investment banks during the 14th Five-Year Plan [4] - These brokerages are anticipated to enhance their business scale, professional capabilities, and profitability, further highlighting their long-term investment value [4]

Core Viewpoint - The outlook for domestic and overseas wind power demand in 2026 is optimistic, driven by rising prices of onshore wind turbines in China, accelerated industry exports, and potential flexibility in domestic offshore wind power, leading to a comprehensive improvement in industry chain profitability [1] Group 1: Domestic Wind Power - It is projected that new installed capacity for domestic wind power will reach 130-140 GW in 2026, continuing to grow from a high base of 120-130 GW in 2025 [1] - The primary source of this growth is expected to be onshore wind power, while offshore wind power is anticipated to add 10-12 GW in 2026, up from 7-9 GW in 2025, indicating rapid growth [1] Group 2: Overseas Wind Power - The demand for onshore wind power in emerging markets is expected to flourish, with a high level of activity in offshore wind power construction anticipated to be maintained over the next two years [1]

如何助力硬科技企业在海外市场融资，并推动其借助资本市场服务更好地在境外展业？中金公司党委副 书记、总裁王曙光在接受上海证券报记者采访时表示，其中关键在于国内证券公司要做好产业龙头和国 际资本间的"桥梁"，帮助中国科技创新企业与全球产业和资本高效对接，助力中国企业深度参与并主导 全球商业竞争。 自新"国九条"颁布以来，证券行业服务科技创新的模式正经历转变，国际化步伐也显 著加快。作为连接实体经济与资本市场的重要枢纽，不少券商正将支持科技创新企业境外融资置于核心 位置。中金公司的实践表明，通过模式创新与专业深耕，国内证券公司能够有效应对硬科技企业境外面 临的融资挑战。 在王曙光看来，证券行业更好服务科技创新企业"走出去"，还需要进一步提升国际业 务能力，加快布局国际业务网络，帮助科创企业利用好境内外两个市场、两种资源，通过境外上市、跨 境并购等服务，助力企业提升全球影响力。"要加快提升中国投行在国际金融市场的影响力，为国家赢 得更多金融话语权和定价权，推动中国资产价值提升。"王曙光说。 据王曙光观察，当前阶段，国内证 券行业发展正呈现以下几个发展趋势： 一是资本市场从"规模导向"转向"质量驱动"。随着市场环境变 ...

Core Viewpoint - The growth of the Chinese securities industry is benefiting from economic development and capital market reforms, with leading Chinese brokers expected to accelerate their progress towards becoming world-class investment banks during the "14th Five-Year Plan" period, enhancing their business scale, professional capabilities, and profitability [2][7]. Industry Future Trends - The industry is poised to leverage diverse and complex financial needs from enterprises, institutions, and residents, leading to opportunities and higher service demands. Key strategies include creating "industrial investment banks" and "asset investment banks" to support economic transformation, enhancing global sales and multi-asset trading capabilities, and addressing wealth management needs through a "wealth investment bank" model [6][14][15]. Investment Value Understanding - The securities sector has historically been underweighted by investors due to competition homogenization and earnings volatility. However, improvements in industry structure, stability, and profitability are expected to enhance long-term investment value. Factors include regulatory emphasis on supporting strong firms, balanced business structures among leading brokers, and a focus on high-quality development [3][39][42]. 2026 Investment Opportunities - The industry is expected to maintain a relatively high level of prosperity, with an overall profit growth forecast of 12%. Key investment lines include the performance of investment banks and private equity leaders, brokers with strong institutional sales and trading services, and firms with significant international business growth [4][58][59].

登录新浪财经APP 搜索【信披】查看更多考评等级 特别提示 内蒙古双欣环保材料股份有限公司（以下简称"双欣环保"、"发行人"或"公司"）首次公开发行人民币普 通股（A股）（以下简称"本次发行"）并在主板上市的申请已经深圳证券交易所主板上市委员会审议通 过，并已获中国证券监督管理委员会（以下简称"中国证监会"）同意注册（证监许可〔2025〕2478 号）。 中国国际金融股份有限公司（以下简称"中金公司"、"保荐人"、"主承销商"或"保荐人（主承销商）"） 担任本次发行的保荐人（主承销商）。 本次发行的缴款环节敬请投资者重点关注，并于2025年12月23日（T+2日）及时履行缴款义务。具体内 容如下： 1、网上投资者申购新股中签后，应根据《内蒙古双欣环保材料股份有限公司首次公开发行股票并在主 板上市网上摇号中签结果公告》（以下简称"《网上摇号中签结果公告》"）履行资金交收义务，确保其 资金账户在2025年12月23日（T+2日）日终有足额的新股认购资金，不足部分视为放弃认购，由此产生 的后果及相关法律责任由投资者自行承担。投资者款项划付需遵守投资者所在证券公司的相关规定。 网下和网上投资者放弃认购部分的股份由保荐 ...

中金公司担任北京智谱华章科技IPO独家保荐人。 ...