资金流向方面，金融指数（399240）成份股当日主力资金净流入合计21.77亿元，游资资金净流出合计 6.15亿元，散户资金净流出合计15.63亿元。成份股资金流向详情见下表： 证券之星消息，12月5日，金融指数（399240）报收于1590.59点，涨2.22%，成交385.56亿元，换手率 1.29%。当日该指数成份股中，上涨的有27家，瑞达期货以10.01%的涨幅领涨，下跌的有6家，青岛银行 以2.06%的跌幅领跌。 金融指数（399240）十大成份股详情如下： | 证券代码 | 股票简称 | 权重 | 最新价 | 涨跌幅 | 总市值(亿元) | 所属行业 | | --- | --- | --- | --- | --- | --- | --- | | sz300059 | 东方财富 | 27.33% | 23.31 | 4.11% | 3683.92 | ■ 非银金融 | | sz002142 | 宁波银行 | 8.30% | 28.23 | -0.84% | 1864.19 | → 银行 | | sz000001 | 平安银行 | 8.21% | 11.53 | 0.35% | 2237.50 | 银 ...

Core Viewpoint - Shenwan Hongyuan (06806.HK) has successfully completed the issuance of its third phase of short-term corporate bonds aimed at professional investors, with a total issuance size of RMB 3 billion [1] Group 1: Bond Issuance Details - The total issuance size of the bonds is RMB 30 billion, consisting of two varieties: Variety One with an issuance size of RMB 19 billion and a maturity of 97 days at a coupon rate of 1.64% [1] - Variety Two has an issuance size of RMB 11 billion, a maturity of 335 days, and a coupon rate of 1.70% [1] - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting December 5, 2025, and will be traded among institutional investors [1] Group 2: Bond Identification - Variety One bonds are referred to as "25申D15" with the bond code "524566" [1] - Variety Two bonds are referred to as "25申D16" with the bond code "524567" [1]

Core Viewpoint - Shenwan Hongyuan (06806) has announced the completion of its short-term corporate bond issuance aimed at professional investors, with a total issuance scale of RMB 3 billion [1] Summary by Categories Bond Issuance Details - The bond issuance work for Shenwan Hongyuan Securities Co., Ltd. ended on November 27, 2025, with a total issuance scale of RMB 3 billion [1] - The first type of bond has an issuance scale of RMB 1.9 billion, a term of 97 days, and a coupon rate of 1.64% [1] - The second type of bond has an issuance scale of RMB 1.1 billion, a term of 335 days, and a coupon rate of 1.70% [1] Listing Information - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting December 5, 2025 [1] - The first type of bond is referred to as "25申D15" with bond code "524566" [1] - The second type of bond is referred to as "25申D16" with bond code "524567" [1]

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，並明確表示概不就因本公告全部或任何部分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。 於本公告日期，董事會成員包括執行董事劉健先生及黃昊先生；非執行董事朱志龍先生、張英女士、邵亞樓先生、 徐一心先生及嚴金國先生；獨立非執行董事楊小雯女士、武常岐先生、陳漢文先生及趙磊先生。 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：6806） 海外監管公告 本公告乃由申萬宏源集團股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上市規 則第13.10B條作出。 茲載列本公司於深圳證券交易所網站發佈之《申萬宏源集團股份有限公司關於申萬宏源證券 有限公司2025年面向專業投資者公開發行短期公司債券（第三期）在深圳證券交易所上市的公 告》，僅供參閱。 承董事會命 申萬宏源集團股份有限公司 董事長 劉健 北京，2025年12月5日 证券代码：000166 证券简称：申万宏源 公告编号：临2025-106 申 万 宏 源 集 团 股 份 有 限 公 司 关于申 ...

申万宏源公告称，所属申万宏源证券2025年面向专业投资者公开发行的短期公司债券（第三期）发行工 作于11月27日结束，发行规模30亿元。其中，品种一规模19亿元，期限97天，票面利率1.64%；品种二 规模11亿元，票面利率1.70%。经深交所审核，本期债券将于2025年起在深交所上市，面向专业投资者 中的机构投资者交易，品种一简称"25申D15"，代码"524566"；品种二简称"25申D16"，代码"524567"。 ...

经深圳证券交易所审核，本期债券定于2025年12月5日起在深圳 证券交易所上市，面向专业投资者中的机构投资者交易，品种一债券 简称"25申D15"，债券代码为"524566"；品种二债券简称"25 申 D16"，债券代码为"524567"。 特此公告。 申万宏源集团股份有限公司董事会 证券代码：000166 证券简称：申万宏源 公告编号：临2025-106 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2025 年面向专业投资者公开 发行短期公司债券（第三期）在深圳证券交易所 上市的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 公司所属申万宏源证券有限公司 2025 年面向专业投资者公开发 行短期公司债券（第三期）（以下简称"本期债券"）发行工作于 2025 年 11 月 27 日结束，本期债券发行规模人民币 30 亿元，其中品种一 发行规模人民币 19 亿元，期限 97 天，票面利率为 1.64%；品种二发 行规模人民币 11 亿元，期限 335 天，票面利率为 1.70%（相关情况 请详见公司于 2025 年 11 月 ...

Core Viewpoint - The articles highlight significant developments and achievements of Shenwan Hongyuan in various sectors, including capital markets, technology finance, inclusive finance, and green finance, showcasing the company's strategic initiatives and successful partnerships. High-Quality Development - Shenwan Hongyuan successfully hosted the "2026 Capital Market Investment Conference" in Shanghai from November 18-21, featuring key executives and the launch of the "Shenxiang Custody Operation Service Platform," marking a comprehensive upgrade in custody operations [1] - The "Xuhui District AI Financial Technology Ecological Alliance" was officially announced during the conference, focusing on the integration of AI and finance [1] Strategic Partnerships - Shenwan Hongyuan signed a strategic cooperation agreement with China Guoxin Holdings on November 25, with key executives from both companies witnessing the signing [3] Technology Finance - Shenwan Hongyuan acted as the lead underwriter for the first "Belt and Road" company bond focused on energy supply, issued by China National Petroleum Corporation, with a scale of 6 billion and a coupon rate of 1.99% [5] Inclusive Finance - The company successfully issued the first small micro-financial bond for CITIC Baixin Bank, with a scale of 2 billion and a coupon rate of 1.98%, setting a historical low for internet commercial banks [8] Support for Capital Market Listings - Shenwan Hongyuan assisted Shenzhen Kangtaijian Medical Technology Co., Ltd. in successfully listing on the New Third Board on November 25 [9] - The company also supported Liaoning Chuangshi Molybdenum Industry Group Co., Ltd. in its successful listing on the New Third Board on November 26 [10] - Additionally, Shenwan Hongyuan helped Shenzhen Dingzhi Communications Co., Ltd. achieve a successful listing on the New Third Board on November 27 [11] Green Finance - Shenwan Hongyuan facilitated the successful issuance of 20 billion green financial bonds for Shanghai Pudong Development Bank, with a coupon rate of 1.73% [12] Awards and Honors - Shenwan Hongyuan won seven awards at the "2025 Securities Industry Golden Bull Award" ceremony held on November 8 [13] - The company secured first place in the "2025 Shanghai Stock Exchange Cup" national college ETF knowledge and financial planning competition [14] - Shenwan Hongyuan's investment banking division received five awards at the "19th Shenzhen International Financial Expo" [15] - The company was recognized as a top 10 investment banking service institution at the "2025 First Financial Value Annual Meeting" [16] - Shenwan Hongyuan's research division won 24 awards at the "7th Sina Golden Unicorn Awards" [17]

要真正发挥政府基金的引导效应，要完善对地方基金的考核评价机制，提升对地方 基金股权投资亏损的包容度，用基金总投资收益替代单个项目投资收益，进一步强化地 方基金在支持基础研发、共性技术突破及未来产业发展上的基石作用。 作者：申万宏源研究 杨成长 龚芳 方思元 "十五五"规划建议明确提出建设现代化产业体系，巩固壮大实体经济根基。构建健全、 高效、富有竞争力的产业体系，已成为"十五五"时期各地改革发展的首要任务。地方产业体 系的发展一方面受制于当地资源禀赋及产业结构特征，另一方面也与地方政府的主动招 引、主动布局紧密相关。近年来，各地为推进战略性新兴产业发展，在项目招引、产业政 策及配套服务上进行了大量积极有效的探索，但同时也面临新兴产业跟风布局、重复建设 及过度"内卷"等乱象，部分地区在趋同式产业布局下，不仅没有抢占到新兴、未来产业的发 展高地，反而还丢失了原来传统产业的优势。"十五五"时期，如何更好的瞄准当地产业发展 的方向，最大程度发挥地方政策及政府资金的引导作用，调动社会资本参与当地产业发 展，是各地政府在产业发展上亟需突破的难题。 一、以投带引，打造政府投行招商模式 近年来，各地政府为加大招引新兴产业及优 ...

Core Insights - The 19th Shanghai Financial Services for the Real Economy Conference (referred to as "Jin Qiao Hui") concluded with significant activities aimed at connecting financial resources to industrial development needs [1] - The conference facilitated financing connections for nearly 400 real enterprises through specialized "Park Tours" across ten districts in Shanghai, focusing on key industries such as artificial intelligence, integrated circuits, and biomedicine [1] - A series of initiatives were launched to enhance the international financial market in China, emphasizing the importance of financial market capabilities and the aggregation of financial institutions [1] Group 1 - The "Jin Qiao Hui" series of "Park Tours" has organized 12 financing connection events since its opening on September 28, showcasing the commitment to support local enterprises [1] - The conference highlighted the launch of the "Global Financial Institutions Entering the Chinese Financial Market" initiative, aimed at improving the ecosystem for foreign financial institutions in Shanghai [1] - An industry initiative was released to optimize the cooperative environment for foreign financial institutions in Shanghai, focusing on enhancing the internationalization of the financial market [1] Group 2 - The "Shanghai Minhang Dalinghao Bay Shenwan Hongyuan Investment and Financing Service Station" was inaugurated, indicating a focus on localized financial services [2] - The "Shenwan Hongyuan New Quality Productivity Selection Index" was introduced, reflecting ongoing innovation in financial products [2] - The "Jin Qiao Hui" will continue to leverage its platform to support high-quality economic development in Shanghai, with an online exhibition platform available until September 2026 [2]

Core Insights - The article emphasizes the importance of rapid retrieval and precise understanding of internal regulations in enhancing operational efficiency and strengthening risk management in the context of stringent securities regulations [1][2][6] Group 1: Digital Transformation and Compliance Knowledge Management - Shenyin Wanguo Securities is collaborating with Zhongguancun KJ to develop a proprietary compliance knowledge Q&A intelligent system, leveraging advanced model technology to facilitate quick retrieval of compliance knowledge [1][4] - The traditional compliance knowledge management model is criticized for being passive, characterized by document accumulation and manual retrieval, prompting financial firms to seek more dynamic and efficient solutions [2][6] Group 2: Challenges in Knowledge Asset Application - There is a need to enhance compliance response agility by achieving precise positioning and analysis of complex regulatory frameworks to support rapid decision-making at the business front [3] - The goal is to transform scattered regulatory content into structured, interactive knowledge assets, reducing reliance on experience and manual effort [3] Group 3: Intelligent Compliance Knowledge Q&A System - The intelligent Q&A system is designed to understand business context, perform logical reasoning, and evolve over time, addressing the challenges of precise parsing and contextual relevance of complex regulations [4][5] - The system integrates various modules to improve knowledge parsing accuracy, enabling efficient extraction of key information from both structured and unstructured compliance documents [5] Group 4: Value Realization and Efficiency Improvement - Since the system's launch, the efficiency of regulatory queries among Shenyin Wanguo Securities employees has significantly improved, with complex inquiries receiving responses in seconds [6][7] - The system supports compliance audits and risk management through traceable processes, creating a secure and efficient compliance knowledge management foundation [6][7] Group 5: Future Prospects and Industry Impact - The collaboration between Shenyin Wanguo Securities and Zhongguancun KJ represents a benchmark practice of advanced model technology in the financial compliance sector, driven by a shared vision of technological innovation [7] - Zhongguancun KJ aims to deepen the integration of advanced model technology with compliance, operations, and service sectors, expanding the possibilities of intelligent knowledge services for high-quality industry development [7]