一、国信金工主动量化策略表现跟踪 本周， 优秀基金业绩增强组合 绝对收益3.51%，相对偏股混合型基金指数超额收 益0.65%。本年，优秀基金业绩增强组合绝对收益26.40%，相对偏股混合型基金 指数超额收益-1.88%。 今年以来，优秀基金业绩增强组合在主动股基中排名 47.25%分位点（1639/3469）。 本周， 超预期精选组合 绝对收益2.90%，相对偏股混合型基金指数超额收益 0.04%。本年，超预期精选组合绝对收益43.79%，相对偏股混合型基金指数超额 收益15.51%。 今年以来，超预期精选组合在主动股基中排名16.14%分位点 （560/3469）。 本周， 券商金股业绩增强组合 绝对收益4.77%，相对偏股混合型基金指数超额收 益1.91%。本年，券商金股业绩增强组合绝对收益34.01%，相对偏股混合型基金 指数超额收益5.72%。 今年以来，券商金股业绩增强组合在主动股基中排名 30.38%分位点（1054/3469）。 本 周 ， 成 长 稳 健 组 合 绝 对 收 益 2.47% ， 相 对 偏 股 混 合 型 基 金 指 数 超 额 收 益-0.39%。本年，成长稳健组合绝对收益 ...

外资巨头大举买入中国资产。 香港交易所最新披露的数据显示，摩根大通、花旗集团、摩根士丹利近日增持了宁德时代、中兴通讯、 药明康德等H股。另据摩根士丹利最新发布的报告，全球对冲基金加大了对中国股票的押注力度，8月 有望创下自2月以来单月买入规模之最。 市场表现方面，港股三大指数8月延续涨势，恒指月累计涨幅为1.23%，月线录得四连阳。展望后市， 机构普遍认为，随着美联储降息预期升温，全球流动性环境趋于改善，港股市场仍具备进一步上行的动 力。 外资新动作 8月29日，据香港交易所披露，多家外资机构大举买入中国资产，具体来看： 摩根大通对宁德时代H股的多头持仓比例于8月26日从5.98%增至6.06%；对中兴通讯H股的多头持仓比 例于8月21日从6.27%增至6.98%；对药明康德H股的多头持仓比例于8月21日从5.87%增至6.01%。 花旗集团对中兴通讯H股的多头持仓比例于8月25日从6.71%增至7.17%；对中兴通讯H股的多头持仓比 例于8月20日从5.05%增至5.3%；对药明康德H股的多头持仓比例于8月20日从4.71%增至5.12%。 摩根士丹利对宁德时代H股的多头持仓比例于8月21日从4.96%增至 ...

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！ 证券代码：002736 证券简称：国信证券 公告编号：2025-066 第一节 重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到中国证监会指定媒体仔细阅读半年度报告全文。 （二）母公司 第二节 公司基本情况 一、公司简介 ■ 二、主要财务数据和财务指标 公司因会计政策变更追溯调整以前年度会计数据。 （一）合并报表 单位：万元 ■ 本半年度报告摘要经公司第五届董事会第四十四次会议（定期）审议通过。公司所有董事均已出席了审 议本半年度报告摘要的董事会会议。未有董事、监事、高级管理人员对本报告提出异议。 公司2025年半年度财务报告未经审计。 公司半年度不派发现金红利，不送红股，不以公积金转增股本。 单位：万元 ■ 财政部于2025年7月8日发布了标准仓单交易相关会计处理实施问答（以下简称"实施问答"）。实施问答 明确要求，企业在期货交易场所通过频繁签订买卖标准仓单的合同以赚取差价、不提取标准仓单对应的 商品实物，应当将其签订的买卖标准仓单的合同视同金融工具进行会计处理。企业取得 ...

■ 登录新浪财经APP 搜索【信披】查看更多考评等级 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！ 国信证券股份有限公司 附件3： 国信证券股份有限公司董事会议事规则修订条款对照表 关于会计政策变更的公告 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。 （修改之处以黑体字标识） ■■ 注：参考《立法技术规范》，本次修订将制度全文条款序号统一从阿拉伯数字调整为中文数字。 证券代码：002736 证券简称：国信证券 公告编号：2025-069 特别提示： 1、本次会计政策的变更是公司按照财政部相关规定进行的相应变更，不会对公司财务状况、经营成果 和现金流量产生重大影响，不存在损害公司及股东利益的情况。 2、本次会计政策变更同时调减公司2024年半年度营业总收入与营业总支出46,360.26万元，对公司2024 年度各期利润总额和净利润均没有影响，对资产负债表没有影响。 一、会计政策变更概述 （一）会计政策变更的情况 2025年7月8日，财政部会计司发布了标准仓单交易相关会计处理实施问答（以下简称"实施问答"）。根 据该实施问答的要求，国 ...

国信证券股份有限公司 关于嘉兴中润光学科技股份有限公司 开展外汇套期保值业务的核查意见 国信证券股份有限公司（以下简称"国信证券"或"保荐机构"）作为嘉兴 中润光学科技股份有限公司（以下简称"公司"或"中润光学"）首次公开发行 股票并在科创板上市的保荐机构。根据《中华人民共和国公司法》《中华人民共 和国证券法》 《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上 市规则》等有关规定，对公司开展外汇套期保值业务进行了核查，具体核查情况 及核查意见如下： 一、开展外汇套期保值业务的目的 随着公司海外业务不断拓展，外汇收支规模不断增长，公司境外业务主要采 用美元等外币结算，因此当汇率出现较大波动时，汇兑损益将对公司的经营业绩 造成一定影响，为有效规避外汇市场的风险，防范汇率波动对公司经营业绩造成 不利影响，提高外汇资金使用效率，合理降低财务费用，公司拟使用自有资金与 银行开展套期保值业务。公司的外汇套期保值业务以正常生产经营为基础，以规 范和防范汇率风险为目的，不进行单纯以营利为目的的投机和套利交易。 二、外汇套期保值业务基本情况 （一）主要涉及币种及业务品种 公司（含子公司，下同）拟开展的外汇套期保值 ...

国信证券股份有限公司 关于桐昆集团股份有限公司 继续使用部分闲置募集资金进行现金管理的核查意见 国信证券股份有限公司（以下简称"国信证券"或"保荐机构"）作为桐昆 集团股份有限公司（以下简称"桐昆股份"或"公司"）非公开发行股票的保荐 机构，根据《证券发行上市保荐业务管理办法》、《上海证券交易所股票上市规 则》、《上海证券交易所上市公司自律监管指引第1号——规范运作》、《上市 公司募集资金监管规则》等有关规定，对桐昆股份本次继续使用部分闲置募集资 金进行现金管理事项进行了审慎核查，核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会证监许可〔2021〕2201号文核准，并经上海证券 交易所同意，桐昆集团股份有限公司（以下简称"桐昆股份"或"公司"）由主 承销商国信证券股份有限公司公司采用向特定对象非公开发行股票方式，向特定 对象非公开发行人民币普通股（A股）股票123,588,456股，发行价为每股人民币 有限公司于2021年9月14日汇入本公司募集资金监管账户。另减除上网发行费、 招股说明书印刷费、申报会计师费、律师费、评估费等与发行权益性证券直接相 关的新增外部费用（不含税）1,154,328. ...

重点要闻 邮储银行上半年净利增0.85%，资产负债均创新高 邮储银行(601658)公布2025半年度报告。报告期内，实现归属于银行股东的净利润492.28亿元，同比增 长0.85%；营业收入1,794.46亿元，同比增长1.50%。非息收入贡献提升，中间业务收入169.18亿元，同 比增长11.59%；其他非息收入234.70亿元，同比增长25.16%，均实现两位数增长，占营业收入的比重分 别同比提升0.85个、2.47个百分点。 | | | 人民巾白力兀,另有标注除外 | | | --- | --- | --- | --- | | | 2025年 | 2024年 | 2023年 | | 项目 | 1-6月 | 1-6月 | 1-6月 | | 经营业绩 | | | | | 营业收入 | 179.446 | 176,789 | 176.976 | | 利息净收入 | 139.058 | 142,876 | 140.305 | | 手续费及佣金净收入 | 16.918 | 15.161 | 18.203 | | 业务及管理费 | 98.158 | 105,951 | 101,435 | | 信用减值损失 | 2 ...

Group 1: DreamNet Technology and Acquisition - DreamNet Technology has terminated its plan to acquire 100% of Orange Digital for a total price of 1.28 billion yuan, which was initially announced on June 26 [2] - The acquisition was intended to be financed through a combination of issuing shares and cash, with a maximum of 830 million yuan raised for supporting funds [2] Group 2: Wuliangye and Digital Economy Fund - Wuliangye has established the Yibin Smart Innovation Digital Economy Industry Fund with a contribution of 1.01 billion yuan [4] - The fund will engage in private equity investments, investment management, and asset management activities [4] Group 3: MiHoYo and Tencent Lawsuit - MiHoYo has initiated a civil lawsuit against Tencent, which has sparked speculation among players regarding the motives behind the action [6] - The case is set to be heard on September 5 in Shenzhen [6] Group 4: China Merchants Bank Half-Year Report - China Merchants Bank reported a revenue of 169.969 billion yuan for the first half of 2025, a decrease of 1.72% year-on-year [7] - The net profit attributable to shareholders was 74.930 billion yuan, reflecting a slight increase of 0.25% [7] - The bank's total assets reached 12.66 trillion yuan, growing by 4.16% compared to the end of the previous year [7] Group 5: Guosen Securities Half-Year Report - Guosen Securities achieved a total revenue of 110.75 billion yuan in the first half of 2025, marking a year-on-year increase of 51.84% [8] - The net profit attributable to shareholders was 53.67 billion yuan, representing a growth of 71.00% [8] Group 6: Biyin Lefen's Performance - Biyin Lefen reported a revenue of 2.103 billion yuan for the first half of 2025, an increase of 8.63% year-on-year [11] - However, the net profit attributable to shareholders decreased by 13.56% to 414 million yuan [11] Group 7: Zeekr's New SUV Launch - Zeekr has launched its new flagship luxury SUV, the Zeekr 9X, with pre-sale prices starting at 479,900 yuan [13] - The model received significant interest, with over 42,000 orders placed within the first hour of the pre-sale [13]

Company Announcements - SMIC plans to issue A-shares to acquire minority stakes in its subsidiary, SMIC North, leading to a temporary suspension of its stock trading for up to 10 trading days [1] - Huasheng Tiancheng's director and supervisor plan to reduce their holdings by up to 0.9984% of the total shares [2] - BYD reported a net profit of 15.51 billion yuan for the first half of the year, a year-on-year increase of 13.79% [2] - Changfei Fiber's net profit for the first half of the year was 296 million yuan, down 21.71% year-on-year [2] - Jia Yuan Technology plans to invest 500 million yuan to acquire part of the equity in Endatong, focusing on the optical module industry [1][17] - Guizhou Moutai completed the repurchase of 3.9276 million shares [1][19] Financial Performance - CEC reported a net profit of 24.641 billion yuan for the first half of the year, a decrease of 12% year-on-year [5] - Longjiang Power achieved a net profit of 13.056 billion yuan, up 14.86% year-on-year [8] - China Rare Earth reported a net profit of 162 million yuan, turning from a loss of 244 million yuan in the previous year [9] - Huayi Brothers' net profit increased by 48.34% to 2.028 billion yuan [6] - Wealth Trend's net profit grew by 6.61% year-on-year [24] Mergers and Acquisitions - Tailin Micro plans to acquire 100% of Panqi Micro's equity through a combination of cash and stock issuance [4] - Aishen Medical announced the acquisition of partial equity in three medical institutions for a total of 105 million yuan [18] Stock Movements - Guizhou Moutai's controlling shareholder plans to increase its stake by 3 to 3.3 billion yuan [15] - Ganfeng Lithium plans to invest 4 billion yuan to build a new lithium-ion battery manufacturing base [16] Market Developments - China National Offshore Oil Corporation won a bid for a project in Qatar worth approximately 4 billion USD [14] - Aishen Medical's acquisition of equity in medical institutions aims to enhance its service coverage and operational efficiency [18]

Growth - Huayin Power reported a net profit of 207 million yuan for the first half of the year, a year-on-year increase of 4146.80% [1] - Guotou Zhonglu achieved a net profit of 25.08 million yuan, up 2149.03% year-on-year [1] - Jianfeng Group's net profit reached 618 million yuan, reflecting a year-on-year growth of 1196.93% [1] - Haixiang New Materials reported a net profit of 64.95 million yuan, with a year-on-year increase of 1099.05% [1] - Shanshan Co. posted a net profit of 207 million yuan, up 1079.59% year-on-year [1] - Huaxia Airlines achieved a net profit of 251 million yuan, a year-on-year increase of 858.95% [1] - Haitan Ruisheng reported a net profit of 3.80 million yuan, reflecting a year-on-year growth of 813.65% [1] - Wentai Technology's net profit was 474 million yuan, up 237.36% year-on-year [1] - ST Yigou reported a net profit of 48.69 million yuan, a year-on-year increase of 230.03% [1] - Youyan New Materials achieved a net profit of 130 million yuan, reflecting a year-on-year growth of 218.47% [1] - Guotai Haitong reported a net profit of 15.737 billion yuan, up 213.74% year-on-year [1] - Batian Co. posted a net profit of 456 million yuan, reflecting a year-on-year increase of 203.71% [1] - Changjiang Securities achieved a net profit of 1.737 billion yuan, up 120.76% year-on-year [1] - China Shipbuilding reported a net profit of 2.946 billion yuan, reflecting a year-on-year growth of 108.59% [1] - Shenwan Hongyuan posted a net profit of 4.284 billion yuan, up 101.32% year-on-year [1] - Zhongwei Semiconductor reported a net profit of 86.47 million yuan, reflecting a year-on-year increase of 100.99% [1] - Lankai Technology achieved a net profit of 1.159 billion yuan, up 95.41% year-on-year [1] - CICC reported a net profit of 4.33 billion yuan, reflecting a year-on-year growth of 94.35% [1] - TCL Technology posted a net profit of 1.883 billion yuan, up 89.26% year-on-year [1] - Guoxin Securities achieved a net profit of 5.367 billion yuan, reflecting a year-on-year increase of 71% [1] - Haowei Group reported a net profit of 2.028 billion yuan, up 48.34% year-on-year [1] - GF Securities posted a net profit of 6.47 billion yuan, reflecting a year-on-year growth of 48.31% [1] - Huatai Securities achieved a net profit of 7.549 billion yuan, up 42.16% year-on-year [1] - Lingyi Manufacturing reported a net profit of 930 million yuan, reflecting a year-on-year increase of 35.94% [1] - Guoxuan High-Tech achieved a net profit of 367 million yuan, up 35.22% year-on-year [1] - Zoomlion reported a net profit of 2.765 billion yuan, reflecting a year-on-year growth of 20.84% [1] - Yunnan Baiyao posted a net profit of 3.633 billion yuan, up 13.93% year-on-year [1] - BYD achieved a net profit of 15.511 billion yuan, reflecting a year-on-year increase of 13.79% [1] Decline and Loss - Agricultural Bank reported a net profit of 139.51 billion yuan, a year-on-year increase of 2.7% [2] - Gujing Gongjiu achieved a net profit of 3.662 billion yuan, up 2.49% year-on-year [2] - Bank of Communications reported a net profit of 46.016 billion yuan, reflecting a year-on-year increase of 1.61% [2] - Postal Savings Bank achieved a net profit of 49.228 billion yuan, up 0.85% year-on-year [2] - China Rare Earth reported a net profit of 16.2 million yuan, turning from loss to profit [2] - New Hope achieved a net profit of 75.5 million yuan, turning from loss to profit [2] - BeiGene reported a net profit of 450 million yuan, turning from loss to profit [2] - Shenghe Resources achieved a net profit of 37.7 million yuan, turning from loss to profit [2] - China Great Wall reported a net profit of 13.8 million yuan, turning from loss to profit [2] - Tianqi Lithium reported a net profit of 8.441 million yuan, turning from loss to profit [2] - Yunda Holdings reported a net profit of 52.9 million yuan, a year-on-year decline of 49.19% [2] - Magmi Te reported a net profit of 17.4 million yuan, down 44.82% year-on-year [2] - Youa Holdings reported a net profit of 5.348 million yuan, down 45.61% year-on-year [2] - Yanzhou Coal reported a net profit of 4.652 billion yuan, down 38.53% year-on-year [2] - Changfei Optical Fiber reported a net profit of 296 million yuan, down 21.71% year-on-year [2] - Pianzaihuang reported a net profit of 1.442 billion yuan, down 16.22% year-on-year [2] - China Shenhua reported a net profit of 246.41 billion yuan, down 12% year-on-year [2] - China Railway reported a net profit of 118.27 billion yuan, down 17.17% year-on-year [2] - Luzhou Laojiao reported a net profit of 766.3 million yuan, down 4.54% year-on-year [2] - Industrial and Commercial Bank reported a net profit of 168.103 billion yuan, down 1.4% year-on-year [2] - China Construction Bank reported a net profit of 162.076 billion yuan, down 1.37% year-on-year [2] - Jingwang Electronics reported a net profit of 64.9 million yuan, down 1.06% year-on-year [2] - Bank of China reported a net profit of 117.591 billion yuan, down 0.85% year-on-year [2] - Beijing-Shanghai High-Speed Railway reported a net profit of 6.316 billion yuan, down 0.64% year-on-year [2] - Baike Biotechnology reported a net loss of 73.5734 million yuan, turning from profit to loss [2] - ST Xintong reported a net loss of 95.1607 million yuan, turning from profit to loss [2] - Gemdale Group reported a net loss of 3.701 billion yuan [2] - China Eastern Airlines reported a net loss of 1.431 billion yuan [2] Additional Losses - Garden Holdings reported a net loss of 74.4346 million yuan [3] - Wantong Development reported a net loss of 28.0411 million yuan [3]