Core Viewpoint - Jerry Holdings has shown continuous growth in performance in the first half of 2025, with improvements in the product structure of its overseas market [1] Group 1: Financial Performance - In the first half of 2025, overseas revenue reached 3.295 billion yuan, representing a year-on-year increase of 38.38%, accounting for 47.75% of total revenue [1] - The gross profit margin improved by 0.58% year-on-year, and new orders increased by 24.16% [1] Group 2: Market Opportunities - The oil and gas industry experienced overall fluctuations, but the rapid growth of natural gas as a strategic transitional demand presents opportunities [1] - The company successfully won the bid for the total contracting project of the Hodeidah Natural Gas Booster Station for the Algerian National Oil Company, with a total amount of approximately 6.126 billion yuan, enhancing its influence in the global oil and gas industry [1] Group 3: Innovation and Technology - The company places a strong emphasis on technological innovation, protecting its innovative achievements through patents, with a total of 209 patent applications during the reporting period, including 90 invention patents and 119 utility model patents [1] - The company is positioned as a leader in the oil and gas technology engineering service sector, indicating a positive outlook for its medium to long-term development [1]

Group 1 - The A-share market has shown signs of recovery since late April, with increasing trading volume and accelerated inflow of northbound funds, leading to a generally positive outlook from institutions [1][3] - As of June 29, the A-share market has experienced a significant rebound, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rising by 16.46%, 24.39%, and 28.74% respectively since April 27 [2] - The performance of sectors such as new energy, non-ferrous metals, and semiconductors has been particularly strong, with the power equipment sector increasing over 50% since April 27 [2] Group 2 - Trading activity in the A-share market has notably increased, with daily trading volume surpassing 1 trillion yuan on 16 out of 20 trading days in June, indicating heightened market engagement [3][4] - Northbound funds have accelerated their entry into the market, with a net purchase of 729.59 billion yuan in June, marking the highest monthly net inflow this year [3] - The total scale of ETFs has increased by 485.26 billion yuan in June, reflecting a 3.42% month-on-month growth [4] Group 3 - Over twenty brokerage firms have released mid-year strategies, with a majority expressing a positive outlook for China's economy and the A-share market in the second half of the year [5] - Analysts from various firms anticipate that the second quarter will be the low point for China's economic growth this year, with expectations of recovery in the latter half [5][7] - The market is expected to transition from a phase of emotional recovery to valuation recovery, driven by policy support and improving fundamentals [5][6] Group 4 - The macroeconomic environment is gradually stabilizing, with signs of recovery in domestic demand and investment, which are expected to lead to a gradual restoration of economic growth momentum [7] - The A-share market is anticipated to maintain an upward trend, although fluctuations may occur as the market adjusts to new conditions [7]

国元证券股份有限公司 2025 年面向专业投资者公开发行科技创新 国元证券股份有限公司 年 月 日 技创新公司债券（第二期）在深圳证券交易所上市的公告》之盖章页） 公司债券（第二期）在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，国元证券股份有限公司 2025 年 面向专业投资者公开发行科技创新公司债券（第二期）符合深圳证券交易所债券 上市条件，将于 2025 年 8 月 12 日起在深圳证券交易所上市，并面向专业投资者 中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成交 和协商成交。债券相关要素如下： 国元证券股份有限公司 2025 年面向专业投资者公开发 债券名称 行科技创新公司债券（第二期） 债券简称 25 国元 K2 债券代码 524390 信用评级 主体 AAA，债项 AAA 评级机构 中证鹏元资信评估股份有限公司 发行总额（亿元） 8 债券期限 2年 票面年利率（％） 1.75 利率形式 固定利率 付息频率 按年付息 发行日 2025 年 8 月 5 日-8 月 6 日 起息日 2025 年 8 月 6 日 上市日 2025 年 8 月 12 日 到期日 20 ...

国元证券8月11日发布研报称，给予杰瑞股份（002353.SZ，最新价：45.82元）买入评级。评级理由主 要包括：1）上半年业绩持续增长，海外市场产品结构边际改善；2）盈利能力基本稳定，研发维持高投 入；3）海外市场持续发力，技术创新实现突破。风险提示：原材料价格波动风险，原油天然气价格波 动加剧风险，汇率波动风险。 （文章来源：每日经济新闻） ...

（本页无正文，为《国元证券股份有限公司 2025 年面向专业投资者公开发行科 技创新公司债券（第二期）在深圳证券交易所上市的公告》之盖章页） 国元证券股份有限公司 2025 年面向专业投资者公开发行科技创新 公司债券（第二期）在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，国元证券股份有限公司 2025 年 面向专业投资者公开发行科技创新公司债券（第二期）符合深圳证券交易所债券 上市条件，将于 2025 年 8 月 12 日起在深圳证券交易所上市，并面向专业投资者 中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成交 和协商成交。债券相关要素如下： | 债券名称 | | 国元证券股份有限公司 | | | | 年面向专业投资者公开发 2025 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 行科技创新公司债券（第二期） | | | | 债券简称 | 25 国元 K2 | | | | | | | 债券代码 | 524390 | | | | | | | 信用评级 | 主体 | AAA，债项 | | | | AAA | ...

Group 1 - The index is experiencing fluctuations and requires increased trading volume to challenge previous highs [1] - The index continues to maintain a bullish trend according to the fund manager from Shenzhen Qianhai Rongyue Asset Management [1] - The market is expected to have short-term fluctuations but is viewed positively in the medium term by Guocheng Investment Advisory [1]

Group 1 - The core stock price of Guoyuan Securities (000728) closed at 8.59 yuan on August 8, 2025, with a decrease of 0.23% and a turnover rate of 0.66% [1] - On August 8, the net outflow of main funds was 842.24 million yuan, accounting for 3.42% of the total transaction amount, while retail investors had a net inflow of 112.81 million yuan, accounting for 0.46% [2][3] - Guoyuan Securities announced the payment of interest for the "24 Guoyuan 04" bond on August 12, 2025, with a total bond balance of 1.5 billion yuan and a coupon rate of 2.04% [3][4] Group 2 - The interest payment for the bond will be 20.40 yuan for every 10 bonds with a face value of 1,000 yuan, with a post-tax interest of 16.32 yuan for individual investors [4] - The bond registration date is August 11, 2025, and the interest payment date is August 12, 2025 [4] - Tax treatment for individual investors includes a 20% income tax on bond interest, while non-resident enterprises are exempt from corporate income tax and value-added tax [4]

Group 1 - The stock price of Guoyuan Securities as of August 8, 2025, is 8.59 yuan, down 0.02 yuan or 0.23% from the previous trading day [1] - The company opened at 8.60 yuan, reached a high of 8.64 yuan, and a low of 8.53 yuan, with a trading volume of 286,800 hands and a transaction amount of 246 million yuan [1] - Guoyuan Securities is a comprehensive securities company based in Anhui, involved in securities brokerage, investment banking, and asset management, and is a constituent of the Shenzhen 500 index [1] Group 2 - Recently, Guoyuan Securities' asset management product "Guoyuan Yuanying Six-Month Regular Open Bond Type Collective Asset Management Plan" has transitioned to Changsheng Yuanying Six-Month Regular Open Bond Fund, marking a case of public offering transformation in the securities asset management industry [1] - According to regulatory requirements, securities firms' collective asset management products must gradually complete their transformation, which may include converting to public funds, transferring to affiliated public institutions, or liquidation [1] - On August 8, the net outflow of main funds from Guoyuan Securities was 8.42 million yuan, accounting for 0.02% of the circulating market value, while over the past five trading days, the cumulative net inflow of main funds was 25.89 million yuan, representing 0.07% of the circulating market value [1]

Key Points - The company, Guoyuan Securities Co., Ltd., is set to issue its third phase of corporate bonds aimed at professional investors, with interest payments scheduled for August 12, 2025 [1][2] - The bond, referred to as "24 Guoyuan 04," has a face value of RMB 1,000 per bond and a coupon rate of 2.04% for the first year, resulting in an interest payment of RMB 20.40 per 10 bonds before tax [2][3] - After tax deductions, individual and securities investment fund bondholders will receive RMB 16.32 for every 10 bonds, while non-resident enterprises will receive the full RMB 20.40 [2][3] - The bond's interest payment will be processed through the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, which will distribute the funds to the designated securities firms or other recognized institutions [3] - Tax obligations for bond interest income are specified, with a 20% withholding tax applicable to individual bondholders, which will be deducted at the time of interest payment [3][4] - Foreign institutional investors are exempt from corporate income tax and value-added tax on bond interest income until December 31, 2025, as per relevant regulations [4]

Core Viewpoint - The independent financial advisor, Guoyuan Securities, conducted a review of stock trading activities related to Anhui Fuhuang Steel Structure Co., Ltd. during the self-inspection period prior to the termination of a significant asset acquisition transaction [2][15]. Group 1: Transaction Overview - The self-inspection period for stock trading activities related to the transaction spans from June 6, 2024, to June 19, 2025 [2]. - The review includes various stakeholders such as the company, its directors, supervisors, senior management, controlling shareholders, actual controllers, and related parties involved in the transaction [2]. Group 2: Stock Trading Activities - No institutional trading of Fuhuang Steel Structure shares was reported during the self-inspection period [3]. - A total of 9 individuals engaged in stock trading activities, with specific details on their buying and selling activities provided in a table format [3][4]. Group 3: Individual Trading Details - Notable trading activities include: - Dai Yang, a director, sold 300,000 shares [3]. - Ding Hui, spouse of Dai Yang, bought 27,000 shares and sold 90,000 shares [3]. - Zhao Weilong, another executive, sold 200,000 shares [3]. - Other individuals also reported various trading activities, with some having no net shares remaining after transactions [3][4]. Group 4: Compliance and Commitments - All involved parties provided declarations confirming that their trading activities did not involve insider information and that they made decisions based on public information [5][6][7]. - The independent financial advisor concluded that the trading activities during the self-inspection period did not constitute insider trading based on the provided documentation and confirmations [15].