1. Report Industry Investment Rating - No information provided regarding the industry investment rating in the report 2. Core View of the Report - The report presents a weekly data tracking of secondary - capital bonds from December 22, 2025, to December 26, 2025, covering primary - market issuance, secondary - market trading, and valuation deviation of individual bonds [1] 3. Summary by Relevant Catalogs 3.1 Primary - Market Issuance - During the week from December 22, 2025, to December 26, 2025, 8 new secondary - capital bonds were issued in the inter - bank and exchange markets, with a total issuance scale of 53.15 billion yuan. The issuance term was 10 years, and the issuers included local state - owned enterprises, private enterprises, other enterprises, and central financial enterprises. The issuer regions were Sichuan, Zhejiang, Jiangsu, Beijing, and Hunan, and the subject ratings were AA +, AA -, A +, and AAA [1] 3.2 Secondary - Market Trading - **Trading Volume**: The total weekly trading volume of secondary - capital bonds was approximately 272.9 billion yuan, a decrease of 1 billion yuan compared to the previous week. The top three bonds in terms of trading volume were 25 Bank of China Secondary Capital Bond 03A(BC) (19.41 billion yuan), 25 China Construction Bank Secondary Capital Bond 03BC (9.691 billion yuan), and 25 Bank of China Secondary Capital Bond 01BC (8.304 billion yuan). By issuer region, the top three in trading volume were Beijing (about 217.1 billion yuan), Shanghai (about 19.3 billion yuan), and Guangdong (about 10 billion yuan) [2] - **Yield to Maturity**: As of December 26, for 5Y secondary - capital bonds, the yield - to - maturity changes of AAA -, AA +, and AA - rated bonds compared to the previous week were 1.19BP, 0.00BP, and 0.00BP respectively; for 7Y bonds, the changes were - 1.05BP, - 1.52BP, and - 1.52BP; for 10Y bonds, the changes were - 1.92BP, - 0.95BP, and - 0.95BP [2] 3.3 Valuation Deviation of Top 30 Individual Bonds - **Overall Situation**: The overall valuation deviation of the weekly average trading price of secondary - capital bonds was not significant. The proportion of discount transactions was less than that of premium transactions, but the discount magnitude was greater than the premium magnitude [3] - **Discount Bonds**: The top three bonds with the highest discount rates were 22 Shengjing Bank Secondary Capital Bond 01 (- 0.5385%), 24 Chang'an Bank Secondary Capital Bond 01 (- 0.4596%), and 25 Jilin Bank Secondary Capital Bond 01 (- 0.3868%). The Zhongzheng implied ratings were mainly AAA -, AA, and AA +, and the regions were mainly Beijing, Tianjin, and Guangdong [3] - **Premium Bonds**: The top three bonds with the highest premium rates were 23 Huaxing Bank Secondary Capital Bond 01 (0.3868%), 22 China Construction Bank Secondary Capital Bond 02B (0.2792%), and 23 Bank of China Secondary Capital Bond 01B (0.2319%). The Zhongzheng implied ratings were mainly AAA -, AA, and AA -, and the regions were mainly Beijing, Shanghai, and Sichuan [3]

Group 1 - China Construction Bank Corporation and Jianxin Financial Technology Co., Ltd. have obtained a patent for "Method, Device, Equipment, Medium, and Program Product for Determining Data Information," with authorization announcement number CN119382961B, applied on October 2024 [1] - China Construction Bank Corporation was established in 2004, located in Beijing, with a registered capital of 26,160,038.1459 thousand RMB [1] - The bank has invested in 36 companies, participated in 5,000 bidding projects, and holds 1,908 trademark records and 5,000 patent records, along with 149 administrative licenses [1] Group 2 - Jianxin Financial Technology Co., Ltd. was established in 2018, located in Shanghai, with a registered capital of 172,972.9729 thousand RMB [1] - The company has invested in 6 enterprises, participated in 4,222 bidding projects, and holds 297 trademark records and 5,000 patent records, along with 10 administrative licenses [1]

本次保荐代表人变更后，公司向不特定对象发行可转换公司债券项目持续督导的保荐代表人为石祎弓先 生和章洪量先生，持续督导期至中国证券监督管理委员会和上海证券交易所规定的持续督导义务结束为 止。 公司董事会对保荐代表人汤鲁阳先生在持续督导期间所做的贡献表示衷心的感谢！ 特此公告。 证券代码：688678 证券简称：福立旺 公告编号：2025-073 转债代码：118043 转债简称：福立转债 福立旺精密机电（中国）股份有限公司 关于变更持续督导保荐代表人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 福立旺精密机电（中国）股份有限公司（以下简称"公司"）于近日收到中信证券股份有限公司(以下简 称"中信证券")出具的《关于更换持续督导保荐代表人的函》。 中信证券作为公司向不特定对象发行可转换公司债券项目的保荐人，原委派汤鲁阳先生、石祎弓先生作 为持续督导保荐代表人。 保荐代表人汤鲁阳先生因工作变动原因，不再担任公司持续督导的保荐代表人。为保证持续督导工作的 有序进行，中信证券现委派章洪量先生接替汤鲁阳先生继续履行持续督导责 ...

证券之星消息，12月26日国有大型银行板块较上一交易日下跌0.71%，建设银行领跌。当日上证指数报 收于3963.68，上涨0.1%。深证成指报收于13603.89，上涨0.54%。国有大型银行板块个股涨跌见下表： 从资金流向上来看，当日国有大型银行板块主力资金净流出5.13亿元，游资资金净流入1.74亿元，散户资 金净流入3.39亿元。国有大型银行板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601939 建设银行 | | > 664.58万 | 1.04% | 494.59万 | 0.77% | -1159.17万 | -1.82% | | 601658 邮储银行 | | -2904.10万 | -6.75% | 643.13万 | 1.50% | 2260.97万 | 5.26% | | 601988 中国银行 | | -5258.09万 | -6.06% | 2974.07万 ...

建信金融科技有限责任公司，成立于2018年，位于上海市，是一家以从事软件和信息技术服务业为主的 企业。企业注册资本172972.9729万人民币。通过天眼查大数据分析，建信金融科技有限责任公司共对 外投资了6家企业，参与招投标项目4222次，财产线索方面有商标信息297条，专利信息5000条，此外企 业还拥有行政许可10个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 国家知识产权局信息显示，中国建设银行股份有限公司取得一项名为"一种数据交换方法、装置、设 备、程序产品及存储介质"的专利，授权公告号CN119420811B，申请日期为2024年8月。 天眼查资料显示，中国建设银行股份有限公司，成立于2004年，位于北京市，是一家以从事货币金融服 务为主的企业。企业注册资本26160038.1459万人民币。通过天眼查大数据分析，中国建设银行股份有 限公司共对外投资了36家企业，参与招投标项目5000次，财产线索方面有商标信息1908条，专利信息 5000条，此外企业还拥有行政许可149个。 ...

Core Viewpoint - The court ruled that CITIC Securities must compensate Fuanna for a principal loss of nearly 29.3 million yuan due to a financial dispute over a wealth management product, marking a significant development in a case that has lasted nearly three years [2][3]. Group 1: Case Background - In 2021, Fuanna invested 120 million yuan in a customized asset management plan from CITIC Securities, expecting stable returns, but the product faced overdue payments starting March 19, 2022 [7]. - By the end of 2024, Fuanna had only recovered 14.3 million yuan from the CITIC product, with 106 million yuan in principal and expected fixed returns still unrecovered [7]. - The main holdings of the product included investments in problematic real estate projects, leading to significant losses [7]. Group 2: Court Ruling - The court ordered CITIC Securities to compensate Fuanna nearly 29.3 million yuan within ten days of the ruling, with future recoveries from the asset management plan split equally between Fuanna and CITIC [8]. - The court also noted that Fuanna had previously withdrawn 5.59 million yuan from the asset account and received additional returns from West Trust, which have not yet been withdrawn [8]. Group 3: Industry Trends - There has been a notable decline in the scale of wealth management products purchased by listed companies, with a total subscription amount of 966.8 billion yuan in 2023, down 18.64% year-on-year [10]. - This decline marks the third consecutive year of reduced investment in wealth management products by listed companies, with a significant drop of 34% in 2023 [10]. - Companies are becoming more cautious and diversified in their investment choices, with structured deposit products being the most popular, accounting for nearly 60% of total subscriptions [10].

Core Viewpoint - China Construction Bank (CCB) has announced the specific time arrangements for personal foreign exchange trading during the holiday periods in 2026, highlighting the importance of planning for clients [1] Group 1: Holiday Trading Schedule - New Year's Day: Trading will close at 16:00 on December 31, 2026, and reopen at 07:00 on January 2, 2027 [1] - Spring Festival: Trading will close at 04:00 on February 14, 2026, and reopen at 07:00 on February 16, 2026; it will close again at 04:00 on February 21, 2026, and reopen at 07:00 on February 23, 2026 [1] - Qingming Festival: Trading will close at 04:00 on April 4, 2026, and reopen at 07:00 on April 6, 2026 [1] - Labor Day: Trading will close at 04:00 on May 2, 2026, and reopen at 07:00 on May 4, 2026 [1] - Dragon Boat Festival: Trading will close at 04:00 on June 20, 2026, and reopen at 07:00 on June 22, 2026 [1] - Mid-Autumn Festival: Trading will close at 04:00 on September 26, 2026, and reopen at 07:00 on September 28, 2026 [1] - National Day: Trading will close at 04:00 on October 3, 2026, and reopen at 07:00 on October 5, 2026 [1] Group 2: Client Advisory - Clients are advised to pay attention to the changes in trading times and make arrangements in advance [1] - For any inquiries, clients can consult CCB branch staff or call the customer service number 95533 [1]

Group 1 - The core point of the article is the appointment of Tang Shuo as the Vice President of China Construction Bank, pending approval from the National Financial Regulatory Administration [1] - Tang Shuo has extensive experience in the banking sector, having held various positions at Bank of Communications, including Director of Business and Institutional Banking and Branch Manager in Guangdong and Beijing [1] - Tang Shuo holds a Bachelor's degree in Law from Xi'an Jiaotong University and a Master's degree in Engineering from Beijing Jiaotong University [1] Group 2 - As of September 30, 2025, China Construction Bank's total assets reached 45.37 trillion yuan, an increase of 11.83% from the previous year [2] - The total amount of loans and advances was 27.68 trillion yuan, reflecting a growth of 7.10% year-on-year [2] - The bank's non-performing loan ratio is 1.32%, which is a decrease of 0.02 percentage points from the end of the previous year, indicating stable asset quality [2]

Group 1 - The core event was the "Pudong Appointment - CCB Global Financial Industry Seminar" held by China Construction Bank (CCB) in Shanghai, attended by nearly 60 foreign financial institutions and organizations [1][3] - CCB's CFO, Sheng Liuyong, delivered a keynote speech on opportunities in domestic economic and financial development by 2026, discussing global economic order changes and financial openness [3][5] - The seminar included discussions on the construction of Shanghai as an international financial center and opportunities for foreign investors in the Chinese gold market [3][5] Group 2 - CCB launched the "Global Financial Industry Client Service Plan," which includes 20 product categories across four major business areas: transaction banking, financial markets, cross-border capital markets, and credit financing [5] - The event featured representatives from major financial institutions like Goldman Sachs and BNP Paribas, focusing on topics such as capital market connectivity and cross-border investment services [3][5] - CCB's various departments, including international business, asset custody, and investment banking, participated in the event to enhance collaboration with global financial peers [6]

Group 1: Core Insights - The article highlights the integration of innovative data applications by China Construction Bank's Weifang branch to meet customer needs effectively, resulting in significant improvements in operational efficiency and customer satisfaction [1][4] - The Weifang branch reported a daily average balance of general deposits of 169.9 billion yuan and a loan balance of 111.8 billion yuan, ranking second among comparable peers and first among local state-owned banks [1] - The bank's efforts in supporting local economic development have been recognized by the Weifang municipal government, earning accolades such as "Advanced Unit Supporting Weifang Development" [1] Group 2: Smart Canteen Implementation - The implementation of the smart canteen system at the Qingzhou Municipal Service Center has drastically reduced meal queuing time from 30 minutes to 5-6 minutes, enhancing dining efficiency for over 600 employees [2][3] - The new system allows employees to use facial recognition or mobile QR codes for quick access, while also streamlining the process of meal subsidies, thus reducing operational costs for the canteen [2][3] Group 3: Financing Solutions - The "Cloud Tax Loan" product, linked directly to tax information, enables precise matching of financing needs for small and micro enterprises, addressing their urgent funding gaps [4][5] - As of November 2025, the Weifang branch's loan balance for tax interaction reached 2.377 billion yuan, with a year-to-date loan issuance of 2.944 billion yuan, indicating a strong demand for this financing solution [5] Group 4: Integrity and Compliance Culture - The Weifang branch has established a "Clean Financial Culture Education Base" to promote compliance and integrity among employees, reinforcing the importance of ethical practices in financial operations [6][7] - The education base features various sections dedicated to clean culture, party history, and legal education, serving as a platform for over 400 employees to engage in integrity training and awareness [6][7]