Group 1 - The company, COFCO Capital (002423), closed at 12.15 yuan on July 7, 2025, with an increase of 1.33% and a turnover rate of 1.23% [1] - The trading volume was 283,200 shares, with a total transaction amount of 344 million yuan on the same day [1] - On July 7, the net inflow of main funds was 16.44 million yuan, indicating a certain level of market interest in the stock [3] Group 2 - The company announced a change in accounting policies on April 30, 2025, which will be implemented from January 1, 2025, in compliance with the Ministry of Finance's standards [2] - The change primarily involves reclassification of insurance contract income recognition and liability measurement, enhancing transparency without affecting actual operating results, premium scale, or cash flow [2][1] - The first quarter report for 2025 has been adjusted to reflect the new standards, ensuring comparability with the previous year's data [2]

Core Viewpoint - The A-share market shows a slight decline with the Shanghai Composite Index at 3468.65 points, down by 0.11%, while the total trading volume reached 584.993 billion yuan, indicating a mixed performance in the market [1]. Group 1: Market Performance - As of 10:29 AM, the Shanghai Composite Index is at 3468.65 points, with a decrease of 0.11% [1]. - The total trading volume in the A-share market is 584.993 billion yuan [1]. Group 2: Stocks Breaking the Annual Line - A total of 46 A-shares have surpassed the annual line today, with notable stocks including Guotou Zhonglu, Jigaofazhan, and Huate Gas, showing significant deviation rates of 8.45%, 6.51%, and 4.34% respectively [1]. - Stocks with smaller deviation rates that have just crossed the annual line include Pudong Jinqiao, Hengli Petrochemical, and Zhenyou Technology [1]. Group 3: Top Stocks by Deviation Rate - The top three stocks with the highest deviation rates are: - Guotou Zhonglu (Code: 600962) with a price increase of 9.98% and a deviation rate of 8.45% [1]. - Jigaofazhan (Code: 600807) with a price increase of 10.16% and a deviation rate of 6.51% [1]. - Huate Gas (Code: 688268) with a price increase of 4.36% and a deviation rate of 4.34% [1]. Group 4: Additional Stocks with Positive Performance - Other notable stocks with positive performance include: - Jingtou Fazhan (Code: 600683) with a price increase of 4.39% and a deviation rate of 2.45% [1]. - Huaihe Energy (Code: 600575) with a price increase of 2.23% and a deviation rate of 1.96% [1]. - ST Gaosi (Code: 002848) with a price increase of 2.88% and a deviation rate of 1.65% [1]. Group 5: Stocks with Lower Deviation Rates - Stocks with lower deviation rates that have recently crossed the annual line include: - Qianyuan Qian (Code: 600189) with a price increase of 1.80% and a deviation rate of 0.82% [2]. - Sifang Stock (Code: 601126) with a price increase of 0.79% and a deviation rate of 0.72% [2]. - Wentai Technology (Code: 600745) with a price increase of 0.94% and a deviation rate of 0.66% [2].

Group 1 - The company has approved a cash dividend distribution plan for the fiscal year 2024, proposing a distribution of 1.58 yuan per 10 shares to all shareholders [1][2] - The total number of shares for the distribution is based on the existing total share capital of 2,304,105,575 shares [1] - The dividend distribution will be subject to different tax rates based on the type of shareholder and their holding period [1][2] Group 2 - The record date for the dividend distribution is set for July 10, 2025, and the ex-dividend date is July 11, 2025 [2] - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodians [2] - Shareholders must ensure their shares are registered with the China Securities Depository and Clearing Corporation Limited by the record date to receive the dividend [2]

股票代码：002423 股票简称：中粮资本 公告编号：2025-028 中粮资本控股股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 月 11 日。 特别提示： 1、权益分派方案：每 10 股派发现金 1.58 元（含税），不送红股，不转增股 本 2、股权登记日：2025 年 7 月 10 日（周四） 二、股权登记日与除权除息日 3、除权除息日：2025 年 7 月 11 日（周五） 本次权益分派股权登记日为：2025 年 7 月 10 日；除权除息日为：2025 年 7 中粮资本控股股份有限公司（以下简称"公司"）2024 年年度权益分派方案 已获 2025 年 5 月 16 日召开的 2024 年度股东会审议通过，现将权益分派事宜公 告如下： 一、权益分派方案 公司 2024 年度权益分派方案为：以公司现有总股本 2,304,105,575 股为基数 向全体股东每 10 股派发现金 1.58 元（含税；扣税后，通过深股通持有股份的香 港市场投资者、QFII、RQFII 以及持有首发前限售股的个人和证券投资基金每 ...

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of COFCO Capital, indicating a decline in revenue and net profit in the latest quarterly report [1][2] - As of July 1, COFCO Capital's stock closed at 12.06 yuan, down 1.39%, with a rolling PE ratio of 41.98 times and a total market capitalization of 27.788 billion yuan [1] - The average PE ratio for the diversified financial industry is 73.21 times, with a median of 27.33 times, placing COFCO Capital at the 15th position within the industry [1][2] Group 2 - In the first quarter of 2025, COFCO Capital reported an operating income of 2.350 billion yuan, a year-on-year decrease of 8.74%, and a net profit of 392 million yuan, down 58.32% year-on-year, with a gross profit margin of 52.97% [1] - As of the first quarter of 2025, seven institutions held shares in COFCO Capital, with a total holding of 1.6606528 billion shares valued at 20.642 billion yuan [1] - The main business of COFCO Capital includes the research and design of financial services, primarily focusing on trust investment products and insurance products [1]

Core Viewpoint - The cotton industry is facing significant challenges due to changes in market dynamics, leading to a need for innovative risk management solutions that go beyond traditional hedging methods [1][3][4]. Group 1: Industry Challenges - Cotton production has been stable and high due to improved agricultural practices, leading to a surplus supply that suppresses price increases [3][4]. - The traditional hedging methods used by cotton ginning factories are no longer effective in the current market environment, where spot prices often exceed futures prices, creating a dilemma for operators [1][2][3]. - The short harvest period and the long processing cycle create financial pressures and price risks for ginning factories, complicating their operational decisions [2][3]. Group 2: Innovative Solutions - A new financial product called "Point Pricing" has been introduced, which combines basis pricing with derivative solutions to better meet the needs of the cotton industry [4][5][6]. - This model fosters a collaborative relationship between ginning factories and financial institutions, allowing for customized risk management tools that enhance profitability [6][7]. - The "Point Pricing" service has shown promising results, with nearly 100 clients signed up and over 10,000 tons of cotton processed, generating additional revenue for clients [6][7]. Group 3: Implications for the Future - The success of the "Point Pricing" model highlights the importance of understanding industry pain points and creating tailored solutions that drive efficiency and cost reduction [9][10]. - The evolving market conditions necessitate a shift from transactional to service-oriented approaches in financial services, emphasizing the need for comprehensive solutions [10]. - The ongoing financial innovations in the cotton industry are expected to reshape the entire supply chain ecosystem, demonstrating the potential for financial services to grow alongside industrial needs [11].

6月18日，中粮资本今日收盘11.87元，下跌1.08%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到41.32倍，总市值273.50亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)11中粮资本41.3222.601.26273.50亿行业平均 64.0265.281.63205.53亿行业中值28.4222.601.60174.39亿1江苏金租11.8612.111.43356.23亿2陕国投 A12.6312.810.95174.39亿3越秀资本13.2914.391.08330.13亿4国网英大16.2218.161.29285.92亿5渤海租赁 16.6521.830.62197.29亿6浙江东方19.6121.991.31205.95亿7瑞达期货21.1421.622.8982.73亿8中油资本 22.1619.970.91929.19亿9南华期货28.4228.433.14130.19亿10永安期货40.5535.711.60205.38亿12海德股份 58.2734.222.12112.98亿 来源：金融界 中粮资本控股股份有限公司的主营业务是金融业务的研发、设计。 ...

截至2025年5月30日收盘，中粮资本（002423）报收于11.5元，较上周的11.67元下跌1.46%。本周，中 粮资本5月26日盘中最高价报11.7元。5月29日盘中最低价报11.45元。中粮资本当前最新总市值264.97亿 元，在多元金融板块市值排名7/28，在两市A股市值排名545/5146。 本周关注点 机构调研要点 问：中粮期货业务发展情况？答：中粮期货锚定"国内领先产业特色衍生品金融服务公司"战略目标，紧 密围绕"市场化、专业化、产品化"三大原则，夯实一体两翼业务，持续锻造业务底座，聚力提升一体化 运营能力，全方位、多角度升级管理举措。境内经纪业务方面，公司立足产融结合，聚焦交割业务发 展，打造产业特色服务品牌，深度服务中粮集团专业化公司，在交易、交割服务，产业基地、产融基地 申请等方面提供"管家式"服务，助力专业化公司期现业务融合发展。深耕产业服务，为产业客户提 供"顾问式"服务，沉淀标准化交易交割能力，提供产业客户一站式采、销、存服务，形成更具稳定性、 竞争力的业务模式。国际业务方面，公司坚持"国际化、防风险、高质量"工作主线，持续发挥"服务主 业、防控风险、创造价值"的功能作用，加速打造 ...

Group 1: Company Overview - COFCO Capital is a holding company involved in various sectors including life insurance, futures, trust, and banking, providing comprehensive financial support to its parent company COFCO Group and a diverse client base [1] - In 2024, COFCO Capital achieved total operating revenue of CNY 25.25 billion, a year-on-year increase of 13.32%, and net profit attributable to shareholders of CNY 1.21 billion, up 18.55% [1] - In Q1 2025, COFCO Capital reported operating revenue of CNY 2.35 billion and net profit of CNY 392 million, maintaining healthy cash assets [1] Group 2: Trust Business Development - COFCO Trust is focusing on the core of trust services, adhering to the service of the real economy and the main responsibilities of the group [3] - The company is advancing structural optimization and risk management to ensure steady growth in its main business [3] - COFCO Trust has developed a comprehensive asset management product system, including cash management, pure debt, and yield-enhancing products [3] Group 3: Futures Business Development - COFCO Futures aims to be a leading domestic provider of industry-specific derivative financial services, focusing on market-oriented, professional, and product-driven principles [4] - The company is enhancing its integrated operational capabilities and providing tailored services to clients in the agricultural sector [5] - COFCO Futures is also expanding its international business and risk management services, adapting to market fluctuations and competitive pressures [5]

整体看，中英人寿进度超前，量价齐升，VNB 再创历史新高， 为后续战略转型及能力建设打下坚实基础。公司坚持做好养老金 融大文章，大力发展商保年金及其他保障类产品不断提升杠杆 类、保障类等高 NBM 产品占比，夯实多元产品结构。同时公司强 化业务品质管控，加强产品分渠道精细化、科学化管理，个险、 经代持续提升5年期及以上业务占比，支撑公司价值的稳步提升。 未来行业仍面临多重挑战，中英人寿将坚定向分红转型降风 险，同时多措并举对抗价值率下降的不利因素，保价值稳健，积 累内生能力，打造核心竞争力，在成为国内最佳合资寿险公司的 道路上稳步前进。 3、中英人寿的投资策略？ 证券代码：002423 证券简称：中粮资本 中粮资本控股股份有限公司投资者关系活动记录表 编号：20250529 | |  特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 活动类别 | □现场参观 | | | □其他 | | 参与单位名称 | 太平洋证券、线上投资者 | | 及人员姓名 | | | 时间 | 年 月 日 2025 5 29 | | ...