Core Viewpoint - The announcement by the Interbank Market Dealers Association regarding the evaluation results for member applications to engage in underwriting non-financial corporate debt financing tools for 2025 highlights the approval of several institutions for relevant business qualifications [1][2]. Group 1: Institutions Approved - Institutions such as Huatai United Securities, JPMorgan Chase Bank (China), DBS Bank (China), Shanxi Securities, and Caitong Securities have received qualifications as general underwriters for non-financial corporate debt financing tools [1][2]. - Eight new members, including Caitong Securities and Huatai United Securities, have been designated as general underwriters for non-financial corporate debt financing tools [2]. - Bank of China International Securities has been approved as a special underwriter for technology innovation non-financial corporate debt financing tools [2]. Group 2: Application Process - The evaluation process for the 2025 underwriting business qualifications began on November 14, 2025, with a deadline for applications set for November 28, 2025, during which 37 members submitted their application materials [2]. - The evaluation results were approved by the fifth Bond Market Professional Committee and the fourth Board of Directors of the Association, and subsequently reported to the People's Bank of China [2]. Group 3: Regulatory Requirements - Underwriters are required to establish dedicated departments for underwriting business, appoint specialized personnel, and develop operational procedures, risk management, and internal control systems [4]. - Main underwriters must collaborate with independent main underwriters to conduct underwriting business and can independently engage in underwriting after gaining sufficient experience [4]. Group 4: Membership Classification - The Association classifies underwriters into main underwriters, underwriting members, and intending underwriting members, with main underwriters further divided into general and specialized categories [6][7]. - General main underwriters can engage in all categories of non-financial corporate debt financing tools, while specialized main underwriters can only handle specific categories [6].

Core Viewpoint - The announcement by the Interbank Market Dealers Association regarding the evaluation results for member applications to engage in underwriting related to non-financial corporate debt financing tools for 2025 highlights the expansion of qualified institutions in this sector [1][4]. Group 1: Qualified Institutions - Several institutions, including Huatai United Securities, JPMorgan Chase Bank (China), DBS Bank (China), Shanxi Securities, and Caitong Securities, have obtained relevant business qualifications [2][4]. - A total of 37 members submitted applications for underwriting qualifications, with 8 new members recognized as general lead underwriters for non-financial corporate debt financing tools [4][5]. - Bank of China International Securities Co., Ltd. has been designated as a lead underwriter for technology innovation non-financial corporate debt financing tools [4]. Group 2: Underwriting Business Regulations - The announcement outlines that lead underwriters and underwriters must establish dedicated departments for underwriting business, appoint specialized personnel, and develop operational procedures, risk management, and internal control systems [7]. - Lead underwriters must collaborate with independently qualified lead underwriters to conduct underwriting business, and may independently engage in underwriting after gaining sufficient experience [7]. - The Association will suspend or revoke underwriting qualifications for lead underwriters or underwriters found guilty of significant legal or regulatory violations [7]. Group 3: Membership Classification - The Association categorizes underwriters into lead underwriter members, underwriting members, and intending underwriting members, with lead underwriter members further divided into general and specialized categories [8][9]. - General lead underwriter members can engage in all categories of non-financial corporate debt financing tool underwriting, while specialized members can only handle specific categories [8]. - Intending underwriting members are those interested in participating in underwriting but are not yet classified as underwriters [9].

证券代码：000750 证券简称：国海证券 公告编号：2025-59 国海证券股份有限公司 诉讼事项进展公告 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。 国海证券股份有限公司（以下简称公司）作为金通灵科 技集团股份有限公司（以下简称金通灵公司）证券虚假陈述 责任纠纷案（以下简称本案）的共同被告之一，此前披露了 本案的相关诉讼情况（详见公告编号 2024-55、2024-56、 2024-58、2024-59）。2025 年 12 月 31 日，公司获悉江苏省 南京市中级人民法院（以下简称南京中院）就本案作出先行 判决，对金通灵公司出具《民事判决书》。现将相关情况公 告如下： 一、诉讼事项的进展情况 2025 年 12 月 31 日，南京中院对金通灵公司出具《民 事判决书》〔（2024）苏 01 民初 2864 号〕，具体判决如下： 案件受理费 3,915,730 元，由被告金通灵公司负担。 二、公司是否存在尚未披露的其他重大诉讼、仲裁事项 截至本公告出具之日，公司及控股子公司不存在应披露 而未披露的其他重大诉讼、仲裁事项。 （一）被告金通灵公司于本判决发生 ...

Core Viewpoint - The approval of 18 new brokerage firms for non-financial corporate debt financing tool underwriting qualifications enhances the competitive landscape in the fixed income market in China [1] Group 1: New Brokerage Firms Approved - The China Interbank Market Dealers Association has released the list of 2025 non-financial corporate debt financing tool underwriting qualifications, adding 18 new brokerages this year [1] - Among the new additions, six brokerages, including Caitong Securities and First Capital Securities, are designated as general lead underwriters for non-financial corporate debt financing tools [1] - Zhongyin Securities has been approved as the lead underwriter for technology innovation non-financial corporate debt financing tools, which includes the underwriting of bonds supporting technological innovation [1] Group 2: Implications for Brokerage Firms - The approval of these qualifications is expected to assist brokerages in enhancing their fixed income business layout and improving their comprehensive bond business system [1]

Core Viewpoint - The China Interbank Market Dealers Association announced the results of market evaluations for members applying to engage in underwriting non-financial corporate debt financing tools, adding 8 general lead underwriters, 1 technology innovation lead underwriter, and 15 underwriters [1]. Group 1: New General Lead Underwriters - Eight new members have been added as general lead underwriters for non-financial corporate debt financing tools, including Caitong Securities Co., Ltd., First Capital Securities Co., Ltd., and Huachuang Securities Co., Ltd. [2] - The complete list of new general lead underwriters includes: 1. Caitong Securities Co., Ltd. 2. First Capital Securities Co., Ltd. 3. Huachuang Securities Co., Ltd. 4. Huatai United Securities Co., Ltd. 5. Shanxi Securities Co., Ltd. 6. Western Securities Co., Ltd. 7. JPMorgan Chase Bank (China) Co., Ltd. 8. DBS Bank (China) Ltd. [2] Group 2: New Technology Innovation Lead Underwriter - Zhongyin International Securities Co., Ltd. has been added as the lead underwriter for technology innovation non-financial corporate debt financing tools, which includes supporting technology innovation bonds [2]. Group 3: New Underwriters - Fifteen new members have been added as underwriters for non-financial corporate debt financing tools, including Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd., Bohai Securities Co., Ltd., and Founder Securities Co., Ltd. [3] - The complete list of new underwriters includes: 1. Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd. 2. Luzhou Bank Co., Ltd. 3. Rizhao Bank Co., Ltd. 4. Weifang Bank Co., Ltd. 5. Bohai Securities Co., Ltd. 6. Debon Securities Co., Ltd. 7. Founder Securities Co., Ltd. 8. Guohai Securities Co., Ltd. 9. Guolian Minsheng Securities Co., Ltd. 10. Guoxin Securities Co., Ltd. 11. Huaxin Securities Co., Ltd. 12. Huayuan Securities Co., Ltd. 13. Shanghai Securities Co., Ltd. 14. Shiji Securities Co., Ltd. 15. Southwest Securities Co., Ltd. [3] Group 4: Regulatory Requirements - The qualifications for engaging in non-financial corporate debt financing tool underwriting are limited to legal entities participating in the market evaluation [4]. - Lead underwriters and underwriters are required to establish relevant departments, equip dedicated personnel, and develop operational procedures, risk management, and internal control systems for underwriting activities [4]. - Lead underwriters must collaborate with independent lead underwriters to conduct underwriting business and may independently engage in underwriting after gaining sufficient experience [4].

Group 1: Company Strategy and Competitive Advantage - The company aims to establish a differentiated competitive advantage by aligning with national strategies and regional positioning, focusing on becoming a key capital market platform for Guangxi and serving the Greater Bay Area and the Yangtze Economic Belt [3] - Emphasis on research-driven leadership and collaborative empowerment to enhance core capabilities, focusing on client needs and compliance risk management [3] - Strengthening key business segments such as wealth management, asset management, institutional services, and boutique investment banking to create distinctive competitive advantages [4] Group 2: Research and Development Strategies - The company’s research division aims to become a leading market-oriented think tank, driven by in-depth research and a comprehensive talent structure [5] - Short-term goals include building a complete research team with a tiered talent structure, focusing on market hotspots and developing specialized research teams [5] - Long-term objectives involve enhancing systematic and endogenous capabilities to improve the competitiveness of research operations [5] Group 3: Application of AI in Wealth Management - The company is actively developing an intelligent customer service system, utilizing AI as a core technology engine to restructure knowledge, processes, and services [6] - The implementation of AI is phased and gradual to control risks, aiming to create a "warm" intelligent customer service system that is operationally efficient and service-oriented [6]

国海证券发表研究报告指，力量发展为煤炭产运销一体化的民营企业，具有高盈利、高分红、高产能增 长性、高股权激励的四高优势。公司主营大饭铺煤矿盈利能力强，近年分红比例高且节奏稳，高股权激 励有助于降低委托代理成本，未来随永安煤矿以及韦一煤矿投产，收购南非MCMining有序推进，业绩 仍有增长空间，且当前估值偏低，综合看公司具备投资价值，该行首次覆盖，给予"买入"评级。 ...

每经AI快讯，国海证券（SZ 000750，收盘价：4.28元）12月26日晚间发布公告称，公司第十届第十四 次董事会会议于2025年12月26日在广西南宁市滨湖路46号国海大厦4楼会议室以现场会议与视频会议相 结合的方式召开。会议审议了《关于审议 <国海证券股份有限公司董事和高级管理人员所持公司股份及 其变动管理制度> 的议案》等文件。 2025年1至6月份，国海证券的营业收入构成为：零售财富管理业务占比46.85%，资产管理业务占比 23.12%，销售交易与投资业务占比15.34%，其他-其他占比11.99%，企业金融服务业务占比1.98%。 截至发稿，国海证券市值为273亿元。 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 （记者 张明双） ...

国海证券股份有限公司董事和高级管理人员 公司董事和高级管理人员就其所持股份变动相关事项（包括但不限于持股比 例、持有期限、变动方式、变动价格）作出承诺的，应当严格遵守。 第三条 公司董事和高级管理人员所持本公司股份，是指登记在其名下和 利用他人账户持有的所有本公司股份。 公司董事和高级管理人员从事融资融券交易的，其所持本公司股份还包括记 载在其信用账户内的本公司股份。 系证券从业人员的公司董事和高级管理人员应当同时遵守关于证券从业人 员的相关规定，在任期或者法定期限内，不得直接或者以化名、借他人名义持有、 买卖股票或者其他具有股权性质的证券，也不得收受他人赠送的股票或者其他具 有股权性质的证券。法律法规许可的情况除外。 第一章 总 则 第一条 为加强对国海证券股份有限公司（以下简称公司）董事和高级管 理人员所持本公司股份及其变动的管理，根据《中华人民共和国公司法》（以下 简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上 市公司董事和高级管理人员所持本公司股份及其变动管理规则》《深圳证券交易 所上市公司自律监管指引第 10 号——股份变动管理》《深圳证券交易所上市公 司自律监管指引第 18 ...

国海证券股份有限公司 信息披露暂缓与豁免管理制度 （经2025年12月26日公司第十届董事会第十四次会议审议通过） 第一章 总则 第一条 为规范国海证券股份有限公司（以下简称公司）信息披露暂缓、 豁免行为，督促公司和其他信息披露义务人依法合规履行信息披露义务，保护投 资者合法权益，根据《中华人民共和国证券法》《上市公司信息披露管理办法》 《上市公司信息披露暂缓与豁免管理规定》《深圳证券交易所股票上市规则》等 相关法律、法规、规章、规范性文件（以下统称法律法规）及《国海证券股份有 限公司章程》（以下简称《公司章程》）的有关规定，特制定本制度。 第二条 公司和其他信息披露义务人暂缓、豁免披露临时报告，在定期报告、 临时报告中豁免披露中国证券监督管理委员会和深圳证券交易所规定或者要求 披露的内容，适用本制度。 （二）属于公司自身经营信息，客户、供应商等他人经营信息，披露后可能 侵犯公司、他人商业秘密或者严重损害公司、他人利益的； 第三条 公司和其他信息披露义务人应当真实、准确、完整、及时、公平地 披露信息，不得滥用暂缓或者豁免披露规避信息披露义务、误导投资者，不得实 施内幕交易、操纵市场等违法行为。 第四条 公司和 ...