Core Viewpoint - During the "14th Five-Year Plan" period, Guohai Securities has elevated cultural brand building to a strategic level, integrating it into the company's high-quality development framework, marking a transition from establishing to deeply embedding its cultural system, enhancing its brand image from "professional" to "warm" [1] Group 1: Cultural System Construction - The cultural construction of Guohai Securities began with a careful foundation building, aligning with industry standards for a comprehensive upgrade of its cultural system [2] - The company established a complete cultural ideology system centered on core values such as "compliance and integrity, professional innovation, resilience, and efficient win-win," providing a "cultural constitution" for strategic choices and governance [2][4] - A three-tiered system of "concept-institution-behavior" was created to ensure the effective implementation of cultural initiatives throughout the "14th Five-Year Plan" period [5] Group 2: Strategic Integration - Guohai Securities has integrated cultural brand building into its overall development strategy, identifying it as one of the "five major projects" of the "14th Five-Year Plan" [6] - The company has established a closed-loop talent management system that incorporates cultural values into all aspects of talent selection and development, with strict consequences for violations [6] - An evaluation mechanism for cultural construction quality has been established to regularly analyze shortcomings and propose improvements [7] Group 3: Brand Development - Over five years, Guohai Securities has linked its professional financial brand with traditional Chinese culture and regional characteristics, creating unique brand memories and emotional resonance [8] - The company initiated a systematic brand image renewal in 2022, launching a new visual identity that aligns with its brand core [9] - The introduction of mascots "Guo Guo" and "Hai Hai" symbolizes the company's commitment to providing valuable services and enhancing emotional connections with clients [10][12] Group 4: Cultural Empowerment - The cultural brand building has driven business development, exemplified by the launch of the "Guohai Special+" video interview series to enhance investor trust [16] - Guohai Securities has innovated in investor education by creating a new ecosystem that combines cultural elements with educational content [17] - The company has integrated ESG and sustainable development principles into its culture, enhancing its brand reputation through consistent communication of governance commitments [18] Group 5: Future Outlook - The accumulated cultural wealth is expected to continuously provide internal motivation for Guohai Securities to serve the modernization journey of China [19]

Core Viewpoint - The article emphasizes the importance of integrating Chinese financial culture into the operations of Guohai Securities, highlighting its role in promoting stability and responsibility within the financial industry [1][2]. Group 1: Strategic Initiatives - Guohai Securities actively responds to the China Securities Regulatory Commission's implementation opinions on the "Five Major Financial Articles," aiming to integrate strategic planning, organizational mechanisms, business practices, and cultural construction [2]. - The company has developed and implemented a work plan for the "Five Major Financial Articles" and a three-year action plan for green finance during the 14th Five-Year Plan period, establishing leadership groups to ensure orderly progress [2][3]. - Guohai Securities has focused on key areas such as technological innovation and green finance, achieving over 4 billion yuan in financing for these sectors since 2024 [3]. Group 2: Social Responsibility and Community Engagement - The company promotes inclusive finance and elder finance, enhancing wealth management through digital and intelligent solutions, and has continuously distributed cash dividends totaling 3.473 billion yuan since its listing [4]. - Guohai Securities has invested over 23 million yuan in poverty alleviation projects and has implemented various community support initiatives, including educational programs for underprivileged students [5]. Group 3: Regional Development and Economic Growth - Guohai Securities is committed to integrating into the economic development of Guangxi, leveraging its position as a financial hub to support the region's transition to high-quality development through technology and finance [6][7]. - The company aims to enhance regional competitiveness by focusing on artificial intelligence and financial services, facilitating resource allocation towards innovation and industry upgrades [6][7]. Group 4: Corporate Governance and Cultural Development - High-quality party leadership is viewed as essential for the company's development, with efforts to integrate party leadership into corporate governance and operational management [8]. - Guohai Securities has established nine core values to guide employee behavior, aligning with the principles of Chinese financial culture and emphasizing compliance and risk management [9][10]. - The company prioritizes a prudent approach to operations, enhancing compliance and risk management systems to support sustainable growth [10].

■"夯实文化软实力 积极履责显担当"系列专题报道 国海证券党委书记、董事长王海河： 根植于深厚的文化底蕴，中国特色金融文化滋养着金融业的根基与未来，已成为推动行业行稳致远的磅 礴精神力量。国海证券党委书记、董事长王海河日前在接受中国证券报记者专访时表示，在中国特色金 融发展之路上，中国特色金融文化是一股强劲的精神力量，推动金融业在改革发展的过程中坚守初心、 守正创新、履责担当。作为资本市场的重要中介，证券公司践行中国特色金融文化，落实"合规、诚 信、专业、稳健"的行业文化，不仅是自身行稳致远的"压舱石"，也是服务实体经济和国家发展战略 的"定盘星"。 ● 本报记者 徐昭 赵中昊 积极响应金融"五篇大文章" 下好战略布局先手棋 "做好金融'五篇大文章'，积极发挥功能性作用，服务实体经济和新质生产力发展，是金融机构的责任 和使命"。王海河表示，国海证券积极响应中国证监会《关于资本市场做好金融"五篇大文章"的实施意 见》，系统谋划、全面部署，推动战略规划、组织机制、业务实践与文化建设深度融合，在深耕金 融"五篇大文章"的过程中，重塑价值理念、业务优势，以高质量的金融服务促进自身高质量发展。 就具体举措而言，一是强化 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 天眼查工商信息显示，近日，国海证券投资有限公司发生工商变更，注册资本由10亿人民币增至15亿人 民币，增幅50%，同时部分高管发生变更。该公司成立于2020年4月，法定代表人为张璟，经营范围包 括从事中国证监会批准的另类投资业务。股东信息显示，该公司由国海证券全资持股。 ...

Core Insights - The 2025 Wind "Gold Analyst" awards were announced on December 10, recognizing outstanding research teams based on the number of report reads from buy-side institutions [1]. Group 1: Award Winners - The awards included 33 individual research field awards and 4 institutional awards, with participation from over 600 teams from 38 research institutions [1]. - Notable winners in various categories include: - Strategy Research: - First: Galaxy Securities - Second: Guosen Securities - Third: Zheshang Securities [3] - Fixed Income: - First: Zheshang Securities - Second: Huachuang Securities - Third: Dongwu Securities [3] - ESG Research: - First: Guosen Securities - Second: Galaxy Securities - Third: Zheshang Securities [5] - Restaurant and Tourism: - First: Guosen Securities - Second: Kaiyuan Securities - Third: Dantan Haidao [6] - Media: - First: Dongwu Securities - Second: Guohai Securities - Third: Kaiyuan Securities [7] Group 2: Sector-Specific Insights - In the Electric Power and Utilities sector: - First: Dongwu Securities - Second: Guosen Securities - Third: Tianfeng Securities [8] - In the Real Estate sector: - First: Kaiyuan Securities - Second: Everbright Securities - Third: Zhongxin Jian Investment [11] - In the Automotive sector: - First: Dongwu Securities - Second: Minsheng Securities - Third: Guosen Securities [31] - In the Non-Bank Financial sector: - First: Zhongxin Jian Investment - Second: Kaiyuan Securities - Third: Dongwu Securities [21] Group 3: Overall Trends - The awards reflect a competitive landscape among research institutions, with a significant number of teams participating and a diverse range of sectors represented [1][3]. - The methodology for the awards was based on objective metrics, specifically the reading counts of research reports by buy-side institutions, ensuring a transparent evaluation process [1].

Core Insights - The awards for financial bond underwriting and market-making have been announced, recognizing various banks and securities firms for their outstanding performance in the industry [1][2][3][4][5][6][7] Group 1: Outstanding Underwriters - The title of "Outstanding Underwriter" was awarded to several banks, including CITIC Bank, Shanghai Pudong Development Bank, and Industrial and Commercial Bank of China [1][2] - A total of 10 banks were recognized as "Excellent Underwriters," highlighting their contributions to the financial bond market [1] Group 2: Excellent Market Makers - The "Excellent Market Maker" category included firms such as Huatai Securities and CITIC Securities, showcasing their role in enhancing market liquidity [2][4] - A diverse range of banks, including Ping An Bank and Industrial Bank, were acknowledged for their market-making capabilities [2][4] Group 3: Special Awards - Special awards were given for various categories, including "Debt Sea Rising Award" and "Green Low Carbon Award," recognizing banks like Agricultural Bank of China and Postal Savings Bank of China for their innovative approaches [3] - The "Technology Innovation Award" was awarded to banks that demonstrated significant advancements in financial technology [3] Group 4: Individual Recognitions - Individual awards were presented to key personnel from various banks, such as CITIC Bank's Sun Wei and China Everbright Bank's Liu Yan, acknowledging their leadership in driving financial bond initiatives [4][5] - The "Outstanding Underwriting Supervisor" category highlighted individuals from major banks, emphasizing the importance of leadership in underwriting processes [5]

Core Viewpoint - Guohai Securities reports that the long-acting growth hormone, Lonpei, based on TransCon technology, is expected to be launched soon, demonstrating superior efficacy and equivalent safety compared to short-acting growth hormones [1] Company Summary - Lonpei growth hormone was introduced by Weisheng Pharmaceutical in November 2018 through a licensing agreement with Ascendis Pharma [1] - The growth hormone utilizes TransCon (transient conjugation technology) for long-acting delivery, making it the only long-acting growth hormone that continuously releases unmodified human growth hormone between weekly doses [1] - Completed Phase III pivotal trials in China have validated that Lonpei is the only long-acting growth hormone showing superior efficacy and equivalent safety in comparison to short-acting growth hormones in positive drug control and parallel group trials [1] - Weisheng Pharmaceutical anticipates that Lonpei will receive domestic approval for marketing in the fourth quarter of 2025, suggesting that investors should closely monitor the company in the near term [1]

信达证券：12月或成为布局跨年行情的窗口期；国海证券：春季躁动中值得关注的仍然是成长风格；开 源证券：可提前布局春季躁动。 沪指本周累计上涨0.37%，深证成指涨1.26%，创业板指涨1.86%。A股后市怎么走？看看机构怎么说： ①信达证券：12月或成为布局跨年行情的窗口期 开源证券指出，近期市场回调暂告一段落，可提前布局春季躁动，交易和配置上应注意：（1）科技与 周期双轮驱动，反内卷下周期机会凸显；（2）科技依然具备中长期占优的条件；（3）在近期的调整 中，我们认为部分超跌的成长行业的机会已经有所显现:军工、传媒（游戏）、AI应用、港股互联网、 电力设备等；而未来机构的核心科技蓝筹或也将跟随修复。 ④银河证券：A股市场中长期向好逻辑不改 银河证券指出，年末行情轮动较快，或仍以震荡结构为主。同时，A股市场中长期向好逻辑不改。监管 层下调险企股票投资风险因子，将进一步释放保险资金入市潜力，为市场注入更多增量流动性。 ⑤华宝证券：建议12月优选景气度向上的行业进行提前布局 华宝证券指出，由守转攻，积极布局高景气方向等风起。内外部波动风险均有所缓和，前期热门成长板 块多数出现了止跌企稳的现象，12月有望进一步整固企 ...

2025 年 12 月 06 日 策略周报 研究所： 证券分析师： 赵阳 S0350525100003 zhaoy05@ghzq.com.cn [Table_Title] 如果春季躁动提前，哪些方向值得关注？ 最近一年走势 相关报告 《流动性周报 12 月第 1 期：ETF 资金净流出，宏 观流动性边际收敛*赵阳》——2025-12-01 《策略周报：近期海外市场关注的三个焦点问题* 赵阳，袁野》——2025-11-29 《流动性周报 11 月第 1 期：基金发行端回暖，杠 杆资金有所放缓*赵阳》——2025-11-24 阳》——2025-11-23 《美股 AI 泡沫度量与互联网周期定位*袁野，赵阳》 ——2025-11-16 本篇报告主要讨论：1、每年 2 月是常规春季躁动区间，牛市年份是否会 提前？2、从市场环境上看，本轮的跨年春季行情有没有可能提前？3、 如果春季躁动提前，如何布局？ 核心要点: 国海证券研究所 请务必阅读正文后免责条款部分 1、从历史的跨年行情上看，整体胜率最高的是 2 月份，即"春季躁 动"行情的常规时间区间。但如果去看过去几轮牛市中继的年份， 我们发现"春季躁动"行情往往会提前。 ...

转自：新华财经 12月4日至5日，以"智聚八桂 医路同行"为主题的"2025金融赋能医疗健康产业（广西）创新会议"在广西南宁成功举办。知名医药院校专家、医疗健康产业 龙头企业、金融投资机构及东盟代表，共同探讨在科技创新与制度变革双轮驱动下，如何构建"科技创新+资本赋能+产业落地"的闭环生态，助力广西打造 面向东盟的医疗健康产业高地。 这一活动由中共广西壮族自治区党委金融委员会办公室指导，国海证券、中恒集团、国海创新资本主办，广西（上海）产业合作中心协办，融中承办。 自治区党委金融办资本市场处负责人在致辞时表示，随着政策支持体系的持续完善和"科技创新+资本赋能+产业落地"的生态构建需求凸显，广西医疗健康 产业正迎来高质量发展的关键阶段，为金融资本深度参与、共创产业新蓝海提供了广阔空间。他希望各界聚焦广西"3+3"大健康产业体系，深耕重点领域， 加速科技成果在广西转化落地，精准匹配产业需求，推动创新链、产业链、资金链深度融合，助力广西打造面向东盟重要的生物医药制造基地，共拓东盟跨 境合作空间。 国海证券党委书记、董事长王海河表示，国海证券是扎根广西、服务全国的综合性上市券商，多年来始终将支持医疗健康产业发展作为服 ...