点评：世界银行上调中国2025年经济增速预期，充分体现了国际社会对中国经济长期增长潜力的积极预 期。通过多元化出口市场和内需拉动，中国在全球经济不确定背景下显示出强劲的韧性。 | 2025年12月12日 星期五 | NO.1中央经济工作会议：灵活高效运用降准降息等多种政策工具，保持流动性充裕 中央经济工作会议12月10日至11日在北京举行。会议指出，要继续实施适度宽松的货币政策。把促进经 济稳定增长、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种政策工具，保持流 动性充裕，畅通货币政策传导机制，引导金融机构加力支持扩大内需、科技创新、中小微企业等重点领 域。保持人民币汇率在合理均衡水平上的基本稳定。要增强宏观政策取向一致性和有效性。将各类经济 政策和非经济政策、存量政策和增量政策纳入宏观政策取向一致性评估。健全预期管理机制，提振社会 信心。 NO.2央行开展1186亿元7天期逆回购操作 12月11日，央行公开市场开展1186亿元7天期逆回购操作，操作利率1.40%。Wind数据显示，当日有 1808亿元逆回购到期。 点评：央行开展1186亿元7天期逆回购操作的决定，显示了在流动性管理方面的精准 ...

Core Viewpoint - The expansion of personal consumption loan interest subsidy policies by regional banks in Guizhou, Sichuan, and Chongqing aims to stimulate local consumption and enhance the competitiveness of regional financial institutions [1][6]. Group 1: Implementation of Subsidy Policies - Regional banks such as Guiyang Bank, Guizhou Bank, and Chengdu Bank have announced the implementation of personal consumption loan interest subsidies, expanding the original 23 financial institutions to include more local banks [1][2]. - The subsidy policies are in response to national calls to boost local consumption, with other provinces expected to follow suit [1][6]. Group 2: Specifics of Subsidy Programs - In Guizhou, the subsidy period is from December 1, 2025, to December 31, 2025, with a maximum subsidy of 3,000 yuan for eligible borrowers [2][4]. - In Chongqing, the subsidy applies to personal consumption loans issued from September 1, 2025, to August 31, 2026, with three local banks included as loan issuers [3][4]. - Chengdu Bank and Chengdu Rural Commercial Bank have set a subsidy cap of 1,500 yuan for borrowers during their policy period [5]. Group 3: Variations in Subsidy Standards - The annual subsidy rate for personal consumption loans in Guizhou and Chongqing is set at 1%, but the maximum subsidy amounts differ, with Guizhou and Chongqing allowing up to 3,000 yuan per borrower [4]. - Chengdu's subsidy cap is lower, at 1,500 yuan, indicating regional differences in subsidy implementation [5]. Group 4: Future Prospects and Market Impact - The introduction of these subsidy policies is expected to create a "national subsidy + local subsidy" synergy, enhancing regional banks' market competitiveness and stimulating local consumption [6][7]. - The policies are seen as a short-term growth opportunity for banks, but long-term sustainability may be challenged due to differences in customer base and risk management capabilities compared to larger banks [7].

Group 1 - Moore Threads announced that its new products and architecture are still in the research phase, and mass production and revenue generation will take time [1] - The company is facing risks related to product certification, customer onboarding, and mass supply, which could negatively impact overall business performance and financial status [1] - The company plans to maintain high R&D investment and product iteration based on its self-developed MUSA architecture, but it still lags behind international giants in R&D strength and core technology accumulation [1] Group 2 - Landun Optoelectronics announced the termination of the equity transfer agreement with Shanghai Xinsi Semiconductor, with no payment made for the equity transfer [2] - Puluo Pharmaceutical received a food production license for bat moth mycelium powder, categorized as a health food [3] - Zhongqi Co., Ltd. has had its application for issuing convertible bonds accepted by the Shenzhen Stock Exchange [4] Group 3 - Baijun Medical's subsidiary received approval for the registration of collagen implant products, marking the first collagen product for facial dermis injection in China [5] - Guoyao Modern's subsidiary obtained a drug registration certificate for Bumetanide injection, which is used for treating edema and hypertension [6] - Yunnong Commercial Bank announced the approval of three non-executive directors' qualifications by the regulatory authority [7] Group 4 - Changshan Pharmaceutical received a drug registration certificate for Heparin Sodium injection in Turkmenistan, used for anticoagulation treatment [8] - Yipin Hong's subsidiary received a drug registration certificate for Levofloxacin oral solution, used for treating various bacterial infections [9] - Sunshine Nuohe plans to invest 20 million yuan in Biling Biotechnology, acquiring a 2.0435% stake [11] Group 5 - Huadong Co. reported a 1.6% month-on-month increase in pig sales revenue for November 2025, with a total sales revenue of 344 million yuan [12] - Sunshine Dairy's major shareholder plans to reduce its stake by up to 3% due to funding needs [12] - Shaanxi Construction won five major projects with a total value exceeding 3.912 billion yuan [13] Group 6 - Yabo Co.'s subsidiary won contracts for three photovoltaic projects with a total bid amount of 7.2933 million yuan [14] - Jinzhi Technology announced winning projects totaling 76.172 million yuan, representing 4.3% of the company's projected annual revenue [15]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 重慶農村商業銀行股份有限公司* Chongqing Rural Commercial Bank Co., Ltd.* 執行董事兼行長 隋軍 中國•重慶，2025年12月11日 於本公告日期，本行執行董事為隋軍先生；本行非執行董事為馬寶先生、董斌先生、袁 剛先生及彭玉龍先生；及本行獨立非執行董事為李明豪先生、李嘉明先生及畢茜女士。 * 本行經中國銀行業監督管理機構批准持有B0335H250000001號金融許可證，並經重慶市市 場監督管理局核准領取統一社會信用代碼為91500000676129728J的企業法人營業執照。本 行根據香港銀行業條例（香港法例第155章）並非一家認可機構，不受香港金融管理局監管， 及不獲授權在香港經營銀行╱接受存款業務。 Chongqing Rural Commercial Bank Co., Ltd. * * : 3618 董事會會議召開日期 重慶農村商業銀行股份 ...

Group 1 - Pro Pharmaceutical has obtained a food production license for bat moth mycelium powder, categorized as a health food [1] - Zhongqi Co., Ltd. has had its application for issuing convertible bonds accepted by the Shenzhen Stock Exchange [2] - Baijun Medical's subsidiary has received approval for its collagen implant product, the first of its kind for facial dermal injections in China [3] Group 2 - Sinopharm Modern's subsidiary has received a drug registration certificate for Bumetanide injection, used for edema, hypertension, and preventing acute kidney failure [4] - Landun Optoelectronics has terminated the purchase of a stake in Star Si Semiconductor, with no payment made for the equity transfer [5] - Zhaoxin Co., Ltd. plans to acquire 70% of Youde New Energy for a maximum price of 220 million yuan, positioning it as a controlling subsidiary [6] Group 3 - Chongqing Rural Commercial Bank has had the qualifications of three non-executive directors approved, effective immediately [7] - Changshan Pharmaceutical has received a drug registration certificate for Heparin Sodium injection in Turkmenistan, used for anticoagulation [8] - Changshan Pharmaceutical's vice president has resigned for personal reasons but will continue to hold other positions within the company [9] Group 4 - Shaanxi Construction has won five major projects with a total bid amount exceeding 3.912 billion yuan, covering various sectors [10][11] - Huazhong Co., Ltd. reported a 1.6% month-on-month increase in pig sales revenue for November, with a total of 34.4 million yuan [12] - Yipin Hong's subsidiary has received a drug registration certificate for Levofloxacin oral solution, effective for treating various bacterial infections [13] Group 5 - Yabo Co., Ltd.'s subsidiary has won projects totaling 7.2933 million yuan, representing 2.13% of the company's audited revenue for 2024 [14] - Sunshine Nuohe plans to invest 20 million yuan in Biling Bio, acquiring a 2.0435% stake in the company focused on nanomedicine [15] - Jinzhi Technology has won projects totaling 76.172 million yuan, accounting for 4.3% of the company's projected revenue for 2024 [16]

Core Viewpoint - The recent extraordinary general meeting of Chongqing Rural Commercial Bank (渝农商行) revealed significant divisions between A-share and H-share shareholders regarding proposed amendments to the company's articles of association and board meeting rules, highlighting the challenges of balancing interests between different shareholder groups [1][15]. Shareholder Meeting Attendance - A total of 577 shareholders and proxies attended the meeting, with 576 being A-share shareholders and 1 being an H-share shareholder [2][11]. - The total number of voting shares held by attending shareholders was 4,990,319,075, with A-share shareholders holding 4,162,130,030 shares and H-share shareholders holding 828,189,045 shares [2][12]. - The voting shares represented 46.58% of the total voting shares of the company [2][12]. Voting Results - The proposed amendments to the articles of association and board meeting rules faced significant opposition from H-share shareholders, with only 38.03% in favor and 58.49% against the articles of association amendment [3][13]. - In contrast, A-share shareholders showed overwhelming support, with 97.99% in favor and only 1.70% against the same amendment [3][13]. Changes in Company Articles - The amendments included changes to Article 254 regarding dividend distribution, removing the six-year claim period for foreign shareholders to claim dividends, which previously allowed the bank to confiscate unclaimed dividends after six years [4][14]. - This change aims to better balance the interests of A-share and H-share shareholders [15]. Board of Directors Changes - The board of directors saw the approval of three new non-executive directors: Ma Bao, Dong Bin, and Yuan Gang, after an eight-month wait for regulatory approval [6][17]. - Following these additions, the number of non-executive directors increased to six, while the number of independent directors decreased to three due to the resignation of Zhang Qiaoyun after serving six years [20]. Executive Director Status - Currently, the only executive director is the bank's president, Sui Jun, while the nomination of Liu Xiaojun as an executive director has yet to receive approval after eight months [21][22].

证券之星消息，12月11日农商行板块较上一交易日下跌0.11%，渝农商行领跌。当日上证指数报收于 3873.32，下跌0.7%。深证成指报收于13147.39，下跌1.27%。农商行板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日农商行板块主力资金净流入9454.7万元，游资资金净流出4605.95万元，散户资 金净流出4848.75万元。农商行板块个股资金流向见下表： ...

12月11日金融一线消息，重庆农商行今日发布公告称，该行于近日收到《重庆金融监管局关于马宝等 3 人重庆农村商业银行股份有限公司董事任职资格的批复》（渝金管复〔2025〕146 号），国家金融监督 管理总局重庆监管局已核准马宝、董斌、袁刚担任该行非执行董事的任职资格，任职资格自即日起生 效，任期至该行第五届董事会任期届满之日止。 重庆农商行指出，自前述董事任职核准之日起，该行董事胡淳、殷祥林的辞任生效 同日，重庆农商行发布独立董事辞任的公告，该行近日收到独立董事张桥云提交的书面辞职信，因任该 行独立董事已满 6 年，根据独立董事任职期限的相关监管规定，张桥云辞去第五届董事会独立董事职 务，并不再担任董事会提名委员会主任委员及战略发展委员会、风险管理委员会、审计委员会、消费者 权益保护委员会委员职务。 责任编辑：曹睿潼 12月11日金融一线消息，重庆农商行今日发布公告称，该行于近日收到《重庆金融监管局关于马宝等 3 人重庆农村商业银行股份有限公司董事任职资格的批复》（渝金管复〔2025〕146 号），国家金融监督 管理总局重庆监管局已核准马宝、董斌、袁刚担任该行非执行董事的任职资格，任职资格自即日起生 效，任期 ...

证券代码：601077 证券简称：渝农商行 公告编号：2025-046 重庆农村商业银行股份有限公司董事会 2025 年 12 月 11 日 重庆农村商业银行股份有限公司（以下简称"本行"）于近日收到《重庆金融 监管局关于马宝等 3 人重庆农村商业银行股份有限公司董事任职资格的批复》 （渝金管复〔2025〕146 号），国家金融监督管理总局重庆监管局已核准马宝先 生、董斌先生、袁刚先生担任本行非执行董事的任职资格，任职资格自即日起生 效，任期至本行第五届董事会任期届满之日止。 马宝先生、董斌先生、袁刚先生的简历详见本行于 2025 年 4 月 26 日在上海 证券交易所网站（www.sse.com.cn）披露的《重庆农村商业银行股份有限公司第 五届董事会第五十六次会议决议公告》。 自前述董事任职核准之日起，本行董事胡淳女士、殷祥林先生的辞任生效， 具体详见本行于 2025 年 4 月 26 日在上海证券交易所网站（www.sse.com.cn）披 露的《重庆农村商业银行股份有限公司关于非执行董事辞任的公告》。 特此公告。 重庆农村商业银行股份有限公司 关于董事任职资格获监管机构核准的公告 本行董事会及全体董事 ...

证券代码：601077 证券简称：渝农商行 公告编号：2025-047 重庆农村商业银行股份有限公司 特此公告。 重庆农村商业银行股份有限公司董事会 2025年12月11日 本行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、准确性和完整性承担法律责任。 重庆农村商业银行股份有限公司（以下简称"本行"）近日收到本行独立董事 张桥云先生提交的书面辞职信，因任本行独立董事已满 6 年，根据独立董事任职 期限的相关监管规定，张桥云先生辞去本行第五届董事会独立董事职务，并不再 担任本行董事会提名委员会主任委员及战略发展委员会、风险管理委员会、审计 委员会、消费者权益保护委员会委员职务。 经张桥云先生确认，其与本行董事会无不同意见，无其他事项需要通知本行 股东。本行董事会对于张桥云先生在任职期间为本行作出的贡献给予高度评价并 致以衷心的感谢！ 关于独立董事辞任的公告 ...