发行人的董事、监事、高级管理人员、持股比例超过 5%的股东以及其他关 联方未参与本期债券认购。承销商国元证券股份有限公司及其关联方未参与本期 债券认购。 认购本期债券的投资者均符合《公司债券发行与交易管理办法》、《深圳证 券交易所公司债券上市规则（2023 年修订）》、《深圳证券交易所债券市场投 资者适当性管理办法（2023 年修订）》及《关于规范公司债券发行有关事项的 通知》等各项有关要求。 特此公告 (本页无正文,为《西部证券股份有限公司 2025年面向专业投资者公开发 行公司债券（第三期）发行结果公告》之签章页） 证券代码：【524317】 证券简称：【25 西部 03】 西部证券股份有限公司 2025 年面向专业投资者公开发行公司债 券（第三期）发行结果公告 西部证券股份有限公司（以下简称"发行人"）发行不超过人民币 180 亿元 公司债券已获得中国证券监督管理委员会证监许可﹝2024﹞60 号文注册。西部 证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第三期）（以下 简 称"本期债券"）发行规模为不超过（含）10 亿元。根据《西部证券股份有限 公司 2025 年面向专业投资者公开发行 ...

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！ 智通财经6月18日讯（记者 王晨）"盛大的老朋友聚会啊！"面对即将召开的2025年智通财经第四届财富管理论坛，有券商财富管理人士如此赞叹。 是的，2025年智通财经第四届财富管理论坛已进入倒计时2天。 今年，智通财经再度携手华夏基金倾力打造2025年第四届财富管理论坛，以"望海笃行，财富致远"为主题，与行业掌舵者共探新形势下的发展路径。作为 论坛核心环节之一，今日正式解锁圆桌对话嘉宾阵容——由12位券商或财富管理业务掌舵者，围绕两大重磅议题展开思想碰撞。 从扬州到宁波，从苏州到珠海，智通财经与华夏基金连续携手打造财富管理交流平台，每一届都以强大的嘉宾阵容和前瞻议题设置引领行业风向，成为推 动财富管理大发展的重要力量。 今年珠海财富管理论坛，整体参会嘉宾近300位，与会高管近70位，超百位券商财富管理业务部门负责人及核心骨干出席，不仅仅因为强大的主讲与圆桌 嘉宾阵容，财富管理新老朋友的面对面交流，思想碰撞更是每届财富管理论坛的吸引所在。智通财经与华夏基金联手打造的财富管理论坛，已成为行业的 年度重磅盛会。 | | | ◆ 6月19日/星期 ...

2025.06. 17 本文字数：1710，阅读时长大约3分钟 作者 | 第一财经 周斌 债市"科技板"落地一月有余，科创债发行市场持续升温。近日，华泰证券（601688.SH）、中信建 投（601066.SH）等多家券商科创债发行获批。 据第一财经统计，自5月9日首批券商科创债落地以来，已有30家券商参与科创债发行，获批额度及 发行规模超过千亿。 从实际发行规模来看，同花顺数据显示，自5月7日以来，已有30家券商参与科创债的发行，合计发 行34只科创债，实际发行规模合计达294.7亿元。其中，招商证券科创债发行规模最多，合计发行规 模达到50亿元。 科创债发行持续升温 2025年3月，央行行长潘功胜宣布将联合证监会、科技部等部门创新推出债券市场"科技板"，重点支 持金融机构、科技型企业、私募股权投资机构三类主体发行科技创新债券。5月，央行、证监会联合 发布《关于支持发行科技创新债券有关事宜的公告》，推出多项支持举措。 业内机构分析，科创债发行主体增量扩容后，发行规模显著增长，但发行期限偏短、"硬科技"属性有 待提升；从市场格局来看，发行主体仍集中在大型金融机构及国企，需进一步提升信用资质较弱主体 发债融资的 ...

Core Viewpoint - The issuance of technology innovation bonds (科创债) is gaining momentum, with over 30 brokerages participating and total issuance exceeding 1 trillion yuan since the first batch was launched on May 9 [1][2][4]. Group 1: Market Dynamics - As of June 16, major brokerages like Huatai Securities and CITIC Construction Investment have received approval to issue technology innovation bonds totaling 100 billion yuan and 60 billion yuan respectively [2]. - The total approved issuance amount from major brokerages, including CITIC Securities and Guotai Junan, is close to 400 billion yuan, indicating strong market interest [2]. - The actual issuance scale of technology innovation bonds reached 294.7 billion yuan, with the highest issuance from China Merchants Securities at 50 billion yuan [3]. Group 2: Issuance Characteristics - The issuance of technology innovation bonds has seen a significant increase in scale, but the issuance period is relatively short, and the "hard technology" attributes need improvement [1][4]. - The majority of issuers are large financial institutions and state-owned enterprises, highlighting a need for better access to financing for entities with weaker credit qualifications [1][4]. Group 3: Valuation and Market Structure - The average issuance interest rate for new technology innovation bonds is lower than that of non-technology bonds of the same term, indicating a favorable valuation environment [5]. - Current pricing of technology innovation bonds is primarily influenced by the creditworthiness of the issuing entities, with less emphasis on factors specific to the technology sector [5]. - The market is expected to enhance support for technology innovation through diversified credit enhancement mechanisms and innovative bond products tailored for small and medium-sized technology enterprises [5].

Group 1 - The issuer, Guoyuan Securities Co., Ltd., has obtained approval from the China Securities Regulatory Commission to publicly issue subordinated bonds with a total face value not exceeding 3 billion yuan [1] - The first phase of the bond issuance is set at a scale of no more than 1.5 billion yuan, with a price of 100 yuan per bond, targeting professional institutional investors [1] - The issuance period for the bonds is scheduled from June 16, 2025, to June 17, 2025, utilizing an online book-building system for pricing and allocation [1] Group 2 - Investors participating in the bond subscription comply with relevant regulations, including the Company Bond Issuance and Trading Management Measures and the Shenzhen Stock Exchange's rules [2] - The main underwriter for this bond issuance is Western Securities Co., Ltd. [2]

Group 1: Xunluo Electronics (顺络电子) - The company has a full order book and high capacity utilization in Q2 [1] - The automotive electronics business covers electrification and intelligent scenarios, with a broad product line and good development prospects [1] - The data center business shows significant sales growth, providing various products and solutions [1] - Increased demand for power inductors from AI smartphones enhances the value of individual components [1] - The company has a rich variety of integrated inductors with wide applications and a promising market outlook [1] - The industry has high barriers to entry, positioning the company as a leading player with multiple core advantages [1] - The company is continuously expanding production and investing in R&D, with no immediate financing plans [1] Group 2: San Aifu (三爱富) - The company primarily engages in the R&D, production, and sales of fluorinated chemicals, with a projected net profit of 275 million yuan in 2024 [2] - Growth is driven by an increase in product volume, with some production lines at the Shaowu base gradually starting operations [2] - Future growth will come from existing products, industrial transfer, and domestic substitution [2] - The company's products are widely used in downstream industries such as new energy, electronics, and aerospace, with some products holding leading market shares [2] - The expiration of refrigerant patents will lead to new production lines and processes being developed [2] - The PVDF market is expected to have sufficient supply in the coming years, with the company having advantages in the supply chain and cost [2] - The company has a diverse range of customized polymer products, with stable overall performance [2] - The company is actively seeking new applications and markets for existing products while developing new ones [2] - A valuation enhancement plan for 2025 has been established, with a focus on cash dividends to enhance investor returns [2] - The company plans to distribute a cash dividend of 0.18 yuan per share, increasing the cash dividend ratio to 41.96% [2] - The company is monitoring regulatory trends regarding B-shares and responding to market feedback [2]

证券代码：【524317】 证券简称：【25 西部 03】 西部证券股份有限公司 2025 年面向专业投资者公开发行公司债 券（第三期）票面利率公告 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整， 并对 公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 西部证券股份有限公司（以下简称"发行人"）发行不超过人民币 180 亿元 公司债券已获得中国证券监督管理委员会证监许可﹝2024﹞60 号文注册。西部 证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第三期）（以下 简 称"本期债券"）发行规模为不超过（含）10 亿元。 【2025】年【 6 】月【16】日，发行人和主承销商在网下向专业机构投资 者进行了票面利率询价，利率询价区间为【1.5%-2.5% 】。根据网下向专业机构 投资者询价结果，经发行人和主承销商协商一致，最终确定本次债券票面利率为 【1.85】%。 发行人将按上述票面利率于 2025 年【6】月【17】日面向专业机构投资者网 下发行。具体认购方法请参考 2025 年【6】月【13】日刊登在深圳证券交易所网 站（http://www.szse.cn）、巨潮资讯网（ ...

Core Insights - The enthusiasm for inquiry transfer mechanisms has surged in the A-share market as it extends from the Sci-Tech Innovation Board to the Growth Enterprise Market, with nearly 50 listed companies announcing inquiry transfer plans this year, surpassing a total market value of 20 billion yuan [1][4] Group 1: Inquiry Transfer Mechanism - The inquiry transfer mechanism is an innovative system under the registration system of the Sci-Tech Innovation Board, which has now been extended to the Growth Enterprise Market, playing a significant role in facilitating the transition of investments from early investors to long-term investors, alleviating pressure on the secondary market, and boosting investor confidence [1][5] - As of June 16, 2023, 48 listed companies have announced inquiry transfer plans, with a total market value of transferred shares reaching approximately 20.91 billion yuan, marking a 88.06% increase in value compared to the same period in 2024 [4] Group 2: Market Trends and Statistics - In April 2023, seven listed companies announced inquiry transfer plans, with a total market value of 3.62 billion yuan. This number surged to 20 companies in May, with a total market value of 7.39 billion yuan, and 13 companies in June, with a total market value of 3.80 billion yuan as of June 16 [2][4] - Since the implementation of the inquiry transfer mechanism, 137 listed companies have utilized this method, with a total market value of shares transferred amounting to 92.86 billion yuan [6] Group 3: Industry Impact - The inquiry transfer mechanism has become a new trend for shareholders of listed companies on the Sci-Tech Innovation Board and Growth Enterprise Market to exit, especially under the constraints of new reduction regulations [5] - The majority of inquiry transfer plans have been concentrated in the semiconductor sector, with 35.24% of transactions coming from the electronics industry, followed by the pharmaceutical and biological sectors at 16.19% [7][8] Group 4: Brokerage Involvement - Citic Securities has been the primary broker for inquiry transfers, handling 60% of the transactions, indicating a strong market presence and trust in their services [8]

随着询价转让机制从科创板延伸至创业板，今年以来A股市场的询价转让热情高涨。 证券时报记者根据Wind数据统计，截至6月16日，今年有近50家上市公司发布询价转让计划，拟转让股份市值合计突破200亿元，与去年同期相比，询价转让公司 数量和拟转让股份市值均出现大幅增长。 询价转让是注册制下科创板的创新性制度安排，目前该机制已延伸至创业板。业内人士指出，询价转让制度在促进上市公司早期投资人与长期投资者"接力"投资、 缓解二级市场压力和提振投资者信心等方面有着重要意义。 证券时报记者统计发现，自询价转让机制延伸至创业板后，A股市场掀起了一波询价转让高峰。 今年4月份有7家上市公司发布询价转让公告，以公告日当天收盘价 计算的转让股份市值合计为36.20亿元。 进入5月份后，A股询价转让公司数量和金额急剧攀升。5月份共有20家上市公司发布询价转让公告，以公告日当天收盘价计算的转让股份市值合计为73.87亿元。今 年6月以来，截至6月16日，有13家上市公司发布询价转让公告，以公告日当天收盘价计算的转让股份市值合计为38.04亿元。 从今年的情况来看，相比2024年同期，今年发布询价转让公告的公司数量和金额均出现大幅增长。 ...

(本页无正文,为《关于延长西部证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第三期）簿记建档时间的公告》之盖章页） 发行人:西部证 20 (本页无正文,为《关于延长西部证券股份有限公司 2025年面向专业投资者公 开发行公司债券(第三期)簿记建档时间的公告》之盖章页) 主承销商:国元 2025 关于延长西部证券股份有限公司 2025 年面向专业投资者公开发行公司债券 （第三期）簿记建档时间的公告 西部证券股份有限公司（以下简称"发行人"）面向专业投资者公开发行总额 不超过 180 亿元公司债券（以下简称"本次债券"）已获得中国证券监督管理委员 会《关于同意西部证券股份有限公司向专业投资者公开发行公司债券注册的批复》 （证监许可﹝2024﹞60 号）。西部证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第三期）（以下简称"本期债券"）发行规模不超过 10 亿元 （含 10 亿元）。 根据《西部证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第 三期）发行公告》，发行人和主承销商将于【2025】年【6】月【 16 】日【15】： 00 至【18】：00 以簿记建档的 ...