| 证券代码：000987 | 证券简称：越秀资本 | | | 公告编号：2026-016 | | --- | --- | --- | --- | --- | | 债券代码：524650.SZ | 债券简称：26 | 越资 | 01 | | | 债券代码：524534.SZ | 债券简称：25 | 越资 | 08 | | | 债券代码：524533.SZ | 债券简称：25 | 越资 | 07 | | | 债券代码：524456.SZ | 债券简称：25 | 越资 | 05 | | | 债券代码：524298.SZ | 债券简称：25 | 越资 | 04 | | | 债券代码：524297.SZ | 债券简称：25 | 越资 | 03 | | | 债券代码：524248.SZ | 债券简称：25 | 越资 | 01 | | | 债券代码：524083.SZ | 债券简称：24 | 越资 | Y1 | | | 债券代码：148836.SZ | 债券简称：24 | 越资 | 02 | | | 债券代码：148353.SZ | 债券简称：23 | 越资 | 03 | | | 债券代码：148232.SZ | 债券简 ...

| 证券代码：000987 | 证券简称：越秀资本 | | 公告编号：2026-015 | | --- | --- | --- | --- | | 债券代码：524650.SZ | 债券简称：26 | 越资 | 01 | | 债券代码：524534.SZ | 债券简称：25 | 越资 | 08 | | 债券代码：524533.SZ | 债券简称：25 | 越资 | 07 | | 债券代码：524456.SZ | 债券简称：25 | 越资 | 05 | | 债券代码：524298.SZ | 债券简称：25 | 越资 | 04 | | 债券代码：524297.SZ | 债券简称：25 | 越资 | 03 | | 债券代码：524248.SZ | 债券简称：25 | 越资 | 01 | | 债券代码：524083.SZ | 债券简称：24 | 越资 | Y1 | | 债券代码：148836.SZ | 债券简称：24 | 越资 | 02 | | 债券代码：148353.SZ | 债券简称：23 | 越资 | 03 | | 债券代码：148232.SZ | 债券简称：23 | 越资 | 02 | | 债券代码：1481 ...

国泰海通晨报 2026 年 03 月 03 日 国泰海通证券股份有限公司 研究所 [汤蔚翔 Table_Authors] (分析师) 电话：021-38676172 邮箱：tangweixiang@gtht.com 登记编号：S0880511010007 [Table_Summary] 1、【策略研究】：热点主题交易热度节后回升，金属资源品主题普涨，AI 应用主题回调。中东战 火强化能源资源价格，Token 出海成为 AI 投资新叙事，重视两会内需方向增量政策。 2、【汽车研究】汽车：展望 2026 年，乘用车销量预计温和增长，新能源高端化趋势明确，细分 市场供给加速释放。我们看好全球化布局领先、高端化表现亮眼、智能化能力突出的车企。 3、【固定收益研究】：战争冲击对债券的影响往往呈现"短期避险—中期再定价"的阶段切换， 判断持续性需同时跟踪通胀/财政路径与尾部风险指标，而非仅看单一期限利率点位。 4、【食品饮料研究】海天味业：引领"餐饮解决方案"及"复调"商业模式并举将保障公司中长 期超额收益，同时我们预计新一轮提价潮即将到来，顺势而为有望实现"量价齐升"。 5、【海外科技研究】MINIMAX-WP：极致性 ...

股 票 研 究 科创类 IPO 增加，创投类企业业绩向好 [Table_Industry] 综合金融 创投行业当前市场现状分析及展望 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 刘欣琦(分析师) | 021-38676647 | liuxinqi@gtht.com | S0880515050001 | | 孙坤(分析师) | 021-38038260 | sunkun@gtht.com | S0880523030001 | 本报告导读： 创投行业迎来近四年首次回升，募资、投资、退出端均迎来好转，预计未来科创类 IPO 将持续增加，创投类企业在硬科技领域积极布局，行业业绩有望持续向好。 投资要点： 股票研究 /[Table_Date] 2026.03.02 [Table_Invest] 评级： 增持 [Table_Report] 相关报告 综合金融《赋能金融强国，券商国际业务迎新 篇》2026.02.26 综合金融《RWA 监管更加明晰，金融信息服务监 管趋严》2026.02.24 综合金融《权益市场火热，居民边际配置权益 ...

Group 1 - The core viewpoint of the article highlights the collaboration between CITIC Securities and Moutai Group, focusing on enhancing financial services and investment strategies for mutual growth [1] - CITIC Securities aims to leverage its resources to support Moutai's diversified investment layout, promoting a virtuous cycle of "industry supporting capital and capital empowering industry" for higher quality development [1] - The meeting also emphasized the importance of expanding cooperation into broader, deeper, and more comprehensive areas [1] Group 2 - CITIC Securities is currently preparing for a board restructuring, having announced a delay in the board's election due to ongoing candidate nominations [3] - The board has made personnel adjustments, including the appointment of Sun Yi as an executive committee member, effective immediately [4] - The management team has been supplemented, with notable changes including the nomination of Wu Yonggao as a candidate for the board [5][7] Group 3 - As of 2026, CITIC Securities is focusing on expanding financing channels, including issuing bonds to enhance capital strength [9] - The company issued a short-term corporate bond of 10 billion yuan with a subscription multiple of 3.05 times, indicating strong market interest [9][10] - CITIC Securities received approval from the CSRC to publicly issue bonds totaling up to 80 billion yuan, marking the largest bond issuance approval for a brokerage this year [11][13] Group 4 - CITIC Securities has achieved an asset scale exceeding 2 trillion yuan, with a net profit surpassing 30 billion yuan [14] - The company's financial investments have shown significant growth, with total financial investments reaching 601.2 billion yuan at the end of 2022 and projected to be 932.01 billion yuan by the end of Q3 2025 [16]

南华期货逼近涨停，瑞达期货、翠微股份、永安期货、弘业期货、越秀资本、五矿资本等跟涨。 (本文来自第一财经) 南华期货逼近涨停，瑞达期货、翠微股份、永安期货、弘业期货、越秀资本、五矿资本等跟涨。 (本文来自第一财经) ...

Group 1: Overview of Private Equity and Venture Capital - Private equity (PE) and venture capital (VC) investments are divided into four stages: fundraising, project investment, post-investment management, and exit [2][7] - PE funds primarily invest in private equity of non-listed companies, while VC funds focus on equity investments in early-stage companies with growth potential [4][5] Group 2: Fundraising Stage - Since 2022, the number of registered private equity and venture capital fund managers in China has decreased, with a total of 11,567 managers as of November 2025, down by 516 from the end of 2024 [2][7] - The number of fund registrations has shown a recovery in 2025, with 1,456 private equity funds registered, totaling 135.25 billion yuan, and 2,780 venture capital funds registered, totaling 124.81 billion yuan [2][8] Group 3: Project Investment Stage - In 2025, the number of investment cases in China's VC/PE market reached 11,015, a year-on-year increase of 30.6%, with an investment scale of 1,339.68 billion yuan, up 23.43% [2] - The average investment amount was 12.2 million yuan, driven by improved macroeconomic expectations and supportive government policies in technology innovation and industrial upgrades [2] Group 4: Exit Stage - From 2022 to 2024, the number of exit cases in the equity investment market decreased, with 2,029 exits recorded in the first three quarters of 2025, a year-on-year decline of 29.2% [2] - IPOs remain the primary exit method, accounting for 49.4% of exits, while mergers and acquisitions have seen a significant increase of 84.3% year-on-year, indicating a growing importance as an exit strategy [2]

多元金融板块盘中震荡走强，南华期货逼近涨停，瑞达期货、翠微股份、永安期货、弘业期货、越秀资 本跟涨。 ...

新春肇启，万象更新。值此甲辰马年春节来临之际，创东方投资全体员工，向您及家人致以最诚挚的祝 福！祝愿您在新的一年里，龙马精神、万事顺遂、阖家安康、事业腾达！ 过去一年，中国经济在复杂严峻的外部环境和国内转型压力下，展现出了强大的战略定力和发展韧性。 投资人和创业者与我们一同见证了市场的波澜起伏，也共同分享了结构性机遇带来的惊喜。创东方始终 秉持"稳健投资、创新发展"的理念，在先进制造、人工智能、生物医药、新能源、新材料等关键领域实 现深度布局与价值共创。 2025年，创东方在科技领域的长期布局迎来丰硕成果，多家被投企业成功IPO，行业覆盖新材料、创新 药等高壁垒赛道。截至目前，创东方累计管理规模已近300亿元人民币，累计投资企业超过350家，其中 超已有40余家已通过上市方式退出，持续在硬科技与医疗健康领域构建产业生态。 资本市场向好的确定性：中国经济的稳定增长及高可预期性，使中国成为世界经济发展的压舱石；中国 才是世界正常经贸秩序、正常资本市场秩序维护者的身份，越来越成为全球共识；经济向东、牵手中 国，成为越来越多国家的一致行动。在此大背景下，中国资本市场将迎来更好的发展，进而带动一级市 场迎来新的发展机遇 ...

Core Viewpoint - Li Zhaoting, the former richest man in Shijiazhuang, has been detained by the police, which has significant implications for his companies, particularly Dongxu Group and its subsidiaries [2][3][19]. Group 1: Company Overview - Dongxu Group Limited, the largest shareholder of Jinying Fund with a 66% stake, is controlled by Li Zhaoting [17]. - At his peak, Li Zhaoting controlled three listed companies: Dongxu Optoelectronics, Dongxu Blue Sky, and Jialinjie [20]. Group 2: Financial Misconduct - From 2015 to 2019, under Li Zhaoting's leadership, Dongxu Group engaged in extensive financial fraud, inflating revenues by 47.825 billion yuan and profits by 13.001 billion yuan [21]. - The highest single-year inflation of cash funds reached 44.79 billion yuan, and the group fraudulently issued corporate bonds worth 3.5 billion yuan in 2018 [21]. Group 3: Current Status and Future Implications - Following a series of upheavals, only Jialinjie remains as a listed company under the "Dongxu system" [23]. - Li Zhaoting's control over Jinying Fund is in jeopardy due to a lifetime ban from the securities market imposed by the China Securities Regulatory Commission in June 2025 [25]. - The shares of Jinying Fund held by Dongxu Group have been frozen multiple times by the court due to significant debt disputes [25].