FF301 本月底法定/註冊股本總額： RMB 25,039,944,560 | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 000166 | 說明 | | A股 (深圳證券交易所) | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 22,535,944,560 | RMB | | 1 RMB | | 22,535,944,560 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 22,535,944,560 | RMB | | 1 RMB | | 22,535,944,560 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | -- ...

FF301 | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 000166 | 說明 | | A股 (深圳證券交易所) | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 22,535,944,560 | RMB | | 1 RMB | | 22,535,944,560 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 22,535,944,560 | RMB | | 1 RMB | | 22,535,944,560 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06 ...

Core Viewpoint - Shenzhen Dingzhi Communication Co., Ltd. successfully listed on the National Equities Exchange and Quotations on November 27, 2025, marking a significant milestone in its capital market journey [1]. Company Overview - Dingzhi Communication is a professional provider of electronic payment products and solutions, aiming to offer stable, efficient, secure, and convenient electronic payment solutions to global users [1]. - The company adheres to an "internationalization and branding" strategic positioning, with products sold in various regions including Africa, Latin America, the Middle East, and Asia-Pacific, establishing a notable brand influence in the global POS terminal sector [1]. - Dingzhi Communication is recognized as a national high-tech enterprise and a specialized and innovative small and medium-sized enterprise in Shenzhen, showcasing strong product innovation capabilities [1]. Future Outlook - Shenwan Hongyuan will continue to uphold its responsibility to serve the real economy and implement national strategies by discovering and nurturing high-growth quality enterprises to enter the capital market [1]. - The company aims to assist enterprises in achieving leapfrog development and actively supports the innovation-driven development strategy to help businesses reach new heights in their respective industries [1].

Core Viewpoint - Shenwan Hongyuan (06806) announced the issuance of a short-term corporate bond aimed at professional investors, with a total scale of RMB 2.5 billion and a coupon rate of 1.65% [1] Group 1: Bond Issuance Details - The bond issuance is scheduled for July 28, 2025, with a maturity period of 123 days [1] - The bond code is 134391, and it is referred to as "25 Shen Zheng D4" [1] - The repayment date for this bond is set for November 28, 2025, coinciding with the delisting date [1] Group 2: Compliance and Execution - Shenwan Hongyuan Securities Co., Ltd. has completed the repayment of principal and interest for this bond in accordance with the relevant provisions of the bond issuance prospectus [1]

智通财经APP讯，申万宏源(06806)公布，公司所属子公司申万宏源证券有限公司于 2025 年 7 月 28 日发 行申万宏源证券有限公司 2025 年面向专业投资者非公开发行短期公司债券(第二期)(品种二)，发行规模 人民币 25 亿元，票面利率 1.65%，期限 123 天，债券代码 134391，债券简称 25 申证 D4。本期债券兑 付日为2025年11月28日，摘牌日为2025年11月28日，申万宏源证券有限公司已按照《申万宏源证券有限 公司2025年面向专业投资者非公开发行短期公司债券(第二期)募集说明书》相关约定，完成本期债券本 息兑付并予以摘牌。 ...

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。 承董事會命 申萬宏源集團股份有限公司 董事長 劉健 （ 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年面向專業投資者非公開發行短期公司債券（第二期）（品種二）本息兌付並摘牌的 公告》，僅供參閱。 二〇二五年十二月一日 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 非公开发行短期公司债券（第二期）（品种二） 本息兑付并摘牌的公告 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。 公司所属子公司申万宏源证券有限公司于 2025 年 ...

本期债券兑付日为2025年11月28日，摘牌日为2025年11月28日， 申万宏源证券有限公司已按照《申万宏源证券有限公司2025年面向专 业投资者非公开发行短期公司债券（第二期）募集说明书》相关约定， 完成本期债券本息兑付并予以摘牌。 特此公告。 申万宏源集团股份有限公司董事会 二〇二五年十二月一日 证券代码：000166 证券简称：申万宏源 公告编号：临2025-105 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 非公开发行短期公司债券（第二期）（品种二） 本息兑付并摘牌的公告 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。 公司所属子公司申万宏源证券有限公司于 2025 年 7 月 28 日发行 申万宏源证券有限公司 2025 年面向专业投资者非公开发行短期公司 债券（第二期）（品种二）（以下简称"本期债券"），发行规模人 民币 25 亿元，票面利率 1.65%，期限 123 天，债券代码 134391，债 券简称 25 申证 D4。（相关情况请详见公司于 2025 年 7 月 30 日在《中 国 ...

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The ETFs in the technology TMT sector are warming up, with a large number of index products being established, raised, and declared, and the US stock ETFs leading in terms of gains [1][3][13] 3. Summary According to the Table of Contents 3.1 Index Product Establishment, Raising, and Declaration - **Product Establishment and Listing**: 8 ETF products, including Morgan Hang Seng Hong Kong Stock Connect 50 ETF and Boshi Industrial Software ETF, were listed, and 17 products, including Chuangjin Hexin CSI A500 Index Enhancement A and Penghua CSI 500 Index Quantitative Enhancement A, were established [1][6] - **Product Issuance Information**: 15 index products, such as Xingquan CSI 300 Quality ETF, will end their raising in the next week, and 13 index products, including Fuguo Hang Seng Biotechnology ETF, will start their raising [1][8] - **Product Declaration Information**: A total of 60 index products were declared in the recent week, among which 28 science - innovation - board theme products accounted for half. 12 fund companies, including Southern and E Fund, declared the CSI Science - Innovation and Entrepreneurship Robot ETF [2][10] 3.2 ETF Market Review - **Overall Market Performance**: Most of the major broad - based ETFs in the A - share market rose, with the GEM 50 ETF and the Science and Technology Innovation 50 ETF rising by 4.65% and 3.22% respectively; the Hang Seng Internet rose by 3.11%; the major broad - based ETFs in the US stock market had prominent gains, with the Nasdaq ETF rising by 4.99% and the S&P 500 ETF rising by 4.59%; the gold ETF rose by 2.55% [3][13] - **Industry - Specific Performance**: Most of the major industry ETFs in the A - share market rose. The technology sector had relatively high gains, with the communication ETF rising by 8.85%, and the electronics ETF and the chip ETF rising by 5.23% and 4.73% respectively [3][16] - **Cross - border ETF Performance**: All the major broad - based indexes in the cross - border markets rose, with the China - South Korea Semiconductor and the Nasdaq 100 rising by 5.17% and 4.93% respectively. Huatai - Peregrine CSI KRX China - South Korea Semiconductor ETF led the gains with a 7.66% increase [19] 3.3 ETF Fund Flows - **Overall Scale**: As of November 28, 2025, there were 1369 ETFs in the whole market, with a total scale of 56886.98 billion yuan, an increase of 850.44 billion yuan from the previous week. The A - share ETFs and cross - border ETFs ranked in the top two in terms of scale [25] - **Fund Inflows and Outflows**: Among the non - currency ETFs, the ETFs with the Shanghai - listed Market - Making Treasury Bonds as the underlying had the largest net fund inflows of 29.42 billion yuan, while the ETFs tracking the GEM Index had the largest net outflows of 68.67 billion yuan [3][29] - **High - Inflow and High - Liquidity ETFs**: Huaxia Shanghai Benchmark Market - Making Treasury Bond ETF and Dacheng CSI AAA Science and Technology Innovation Corporate Bond ETF had relatively high fund inflows, with 29.42 billion yuan and 24.26 billion yuan respectively. Haifutong CSI Short - Term Notes ETF and Boshi CSI Convertible Bonds and Exchangeable Bonds ETF had high liquidity, with average daily trading volumes of 230.10 billion yuan and 100.05 billion yuan respectively [32]

11月28日，由新浪财经主办的"第七届金麒麟最佳分析师"榜单揭晓，申万宏源研究荣获"最 具荣耀研究机构"第一名和"最佳研究机构"第六名，22个研究领域分获22项分析师奖项。 策略研究、交运物流、轻工和纺织服装、石油和化工、传媒、房地产、军工、固定收益、 农林牧渔、金融工程、计算机、宏观经济、食品饮料、机器人及高端制造共14个研究领域获 得"最佳分析师"奖项。 非银金融、环保、建筑与建材、新金属材料、海外市场研究、银行、新能源设备、通信研 究等8个研究领域获"菁英分析师"。 | 计算机行业 第7名 | | 洪依真、黄忠煌,崔航,徐 平平,曹峥,刘洋 | | --- | --- | --- | | 宏观经济研究 | 第8名 | 赵伟、陈达飞、屠强、贾东 旭、王茂宇、李欣越、赵 | | 宇、侯倩楠 | | | | 食品饮料行业 第8名 吕昌、周缘 | | | | 机器人及高端 制造行业 | 第9名 | 王珂、李蕾、刘建伟、何佳 霖、胡书捷、苏萌 | 据悉，2025第七届新浪财经金麒麟最佳分析师评选有近700个分析师团队参与，同时汇集上 百家专业金融机构参与投票，涵盖公募基金、私募基金、券商资管等多元买方机构。"最具 ...

Group 1 - The core view of the report indicates that the large stock pool allocation remains biased towards value, with economic recovery observed, liquidity slightly tight, and credit indicators showing slight improvement. The macro dimensions suggest a direction of economic improvement, weak liquidity, and credit contraction [3][9][15] - The report emphasizes that the allocation of major assets has shifted, with an increased proportion of gold allocation to 20% due to economic upturn, while A-shares allocation has decreased [3][28] - Economic leading indicators are maintained at an upward trend, with predictions indicating that December 2025 will be at the end of a rising cycle since September, although the strength of the indicators is not high [3][15][19] Group 2 - The liquidity environment is slightly tight, with monetary indicators showing a decline. The overall interest rates have remained stable, and the excess reserve ratio has dropped below historical levels [3][23][26] - Credit indicators are weak, with low levels of credit volume and structure. The report notes that the total social financing stock year-on-year remains weak, although there is some improvement in the structure of loans to households and enterprises [3][27][28] - The market focus has shifted to PPI, which has become the most concerning variable, surpassing economic indicators. This reflects the market's heightened attention to future demand recovery [3][30][31] Group 3 - The industry selection from a macro perspective favors sectors that are sensitive to economic changes but insensitive to credit fluctuations, maintaining a value bias [3][32] - The report identifies the highest scoring industries based on economic sensitivity and credit insensitivity, including utilities, coal, and construction decoration as top sectors [3][32]