本议案已经公司董事会战略及ESG委员会全体成员事前审议通过。 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：601211 证券简称：国泰海通 公告编号：2025-110 国泰海通证券股份有限公司 第七届董事会第九次会议（临时会议）决议公告 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、准确性和完整性承担法律责任。 国泰海通证券股份有限公司（以下简称公司）第七届董事会第九次会议（临时会议）于2025年12月24日 以通讯表决方式召开。本次会议通知及文件于2025年12月17日以电子邮件方式发出。本次会议应参与表 决董事18人，实际参与表决董事18人。本次会议召集、召开及表决程序符合《中华人民共和国公司 法》、公司《章程》和《董事会议事规则》的有关规定。本次会议审议通过了以下议案： 一、审议通过了《关于制定〈国泰海通三年战略规划纲要（2026-2028）〉及〈国泰海通"十五五"规 划〉的议案》 表决结果：18票赞成，0票反对，0票弃权。 二、审议通过了《关于公司部分高级管理人员2024年度考核等情况的报告》 表决结果：1 ...

撤单一年多之后，飞潮新材被查明"带病闯关"。上证所近期披露，现场检查中发现，飞潮新材存在未对亏损合同计提预计负债、研发费用归集不准确等财务 处理不规范情况，导致2021年、2022年分别多计利润总额165.85万元、144.91万元。同时，该公司内控执行不到位、关联交易信息披露不完整。 进入年末，监管继续开出投行罚单。近期，因IPO和资产重组项目，4家券商的8名保代被采取监管措施。 据沪深交易所网站，近期，银河证券、国金证券等保代被约见谈话或监管警示，涉及飞潮新材科创板IPO、元丰电控创业板IPO等项目违规。值得一提的 是，上述企业均为IPO撤单企业，随着"带病闯关"行为曝光，监管"一案多罚"，公司及相关中介方一同受罚。 上述案例成为2025年投行严监管的缩影。第一财经根据证监会、沪深交易所网站统计，年初至今，上述监管机构合计开出55张投行类罚单，深交所数量最 多，达到31张。这些罚单开给了约20家券商，波及近70名保代，这些主体被采取书面警示、约见谈话、暂停业务资格等监管措施。 哪些投行频频吃罚单？年内海通证券共计8名保代被罚，涉及梦创双杨沪市主板IPO、中润光能创业板IPO等多个项目。国泰海通收到的首张投 ...

Market Performance - Developed markets outperformed last week, with MSCI Global index unchanged at +0.0%, MSCI Developed Markets up +0.2%, and MSCI Emerging Markets down -1.5% [1] - In the bond market, long-term rates in Japan increased while U.S. rates decreased [1] - In commodities, silver saw significant gains while soybean prices dropped [1] - The Chinese stock market saw gains in essential consumption, finance, and energy materials, while U.S. stocks in consumer discretionary and technology performed well [1] Trading Sentiment - There was a significant increase in trading volume for U.S. and European stock indices, while Hong Kong and A-shares saw weaker trading volumes [1] - Investor sentiment in Hong Kong decreased and is at historically low levels, while U.S. investor sentiment increased and is at historically high levels [1] - Volatility decreased for Hong Kong, European, and U.S. stocks, while Japanese stocks experienced an increase in volatility [1] - Overall valuation for developed markets rose compared to the previous week, while emerging markets saw a decline in valuation [1] Earnings Expectations - Hong Kong's earnings expectations were slightly revised upward, with the Hang Seng Index's 2025 EPS forecast adjusted from 2064 to 2065 [2] - U.S. earnings expectations remained stable, with the S&P 500 Index's 2025 EPS forecast at 273 [2] - European earnings expectations also remained stable, with the Eurozone STOXX 50 Index's 2025 EPS forecast unchanged at 330 [2] Economic Expectations - Economic sentiment in major markets declined to varying degrees last week [2] - The Citigroup U.S. Economic Surprise Index decreased, influenced by the Federal Reserve's cautious stance on future rate cuts, lower inflation data, and disappointing employment figures [2] - The European Economic Surprise Index also saw a slight decline due to falling consumer confidence and geopolitical tensions [2] - The Citigroup China Economic Surprise Index dropped, affected by disappointing macro data and tightening external conditions [2] Capital Flows - The Federal Reserve's cautious stance on rate cuts for 2026 was noted, with expectations of approximately two rate cuts remaining unchanged from the previous week [3] - Dollar liquidity tightened last week, with the SOFR-OIS spread widening [3] - Global micro liquidity saw significant inflows into China, the U.S., Japan, India, and South Korea, while flexible foreign capital flowed into Hong Kong stocks [3]

Group 1 - The core viewpoint of the article highlights the issuance of local government bonds in six provinces, totaling 400.37 billion yuan, with new general bonds at 59.62 billion yuan, new special bonds at 292.58 billion yuan, and refinancing bonds at 48.16 billion yuan [1] - The local bond issuance spread increased to 21.09 basis points, up from 17.70 basis points the previous week, indicating a rise in borrowing costs [2] - A peak in new local bond supply is anticipated in the second and third quarters of 2026, with special refinancing bonds likely to be issued earlier than expected [2]

Core Viewpoint - Regulatory bodies continue to impose penalties on investment banks as the year ends, with a focus on IPO and asset restructuring projects, highlighting a trend of increased scrutiny in the investment banking sector [2][14]. Regulatory Actions - A total of 55 investment banking penalties have been issued this year, with 31 from the Shenzhen Stock Exchange, 16 from the China Securities Regulatory Commission, and 8 from the Shanghai Stock Exchange [14][15]. - The penalties have affected approximately 20 brokerage firms and nearly 70 sponsoring representatives, with measures including written warnings, interviews, and suspension of business qualifications [14][15]. Specific Cases - Notable cases include: - **Feichao New Materials**: The company withdrew its IPO application after being found to have financial irregularities, leading to regulatory warnings for its chairman and sponsoring representatives from Guojin Securities [4][5]. - **Zhuzhou Kenen**: This company also faced penalties for inaccuracies in its financial disclosures during its IPO process, resulting in warnings for its chairman and sponsoring representatives from Shengan Securities [6]. - **Yuanfeng Electric Control**: The project faced delays and eventual termination, with penalties imposed on representatives from Galaxy Securities for failing to adequately address contractual disputes and accounting issues [11][12]. Trends in Penalties - The majority of penalties (over 90%) are related to IPO projects, particularly those that were withdrawn [21]. - The trend indicates that investment banks are under increasing pressure to ensure compliance during the IPO process, as regulatory bodies conduct more on-site inspections [2][21].

| 新任高级管理人员职务 | 副总裁 | | --- | --- | | 新任高级管理人员姓名 | 左秀海 | | 是否经中国证监会核准取得高管任职 | | | 资格 | | | l 中国证监会核准高管任职资格的日期 | | | 任职目期 | 2025-12-24 | | 过往从业经历 | 左秀海,硕士研究生,中共党员。2008年5月入职华宝证券 | | | 有限责任公司担任 CRM 分析员;2010年6月入职海通证券股 | | | 份有限公司,先后担任销售交易总部交易管理部经理,零售 | | | 与网络金融部交易管理部经理,财富管理中心交易管理部经 | | | 理、财富管理中心总经理助理、副总经理:2021年5月入职 | | | 上海海通证券资产管理有限公司,担任投资总监兼组合投资 | | | 部总监:2025年12月加入上海国泰海通证券资产管理有限 | | | 公司,现任党委副书记。 | | 取得的相关从业资格 | 证券从业资格、基金从业资格 | | 国籍 | 中国 | | 学历、学位 | 研究生学历、硕士学位 | 北京商报讯（记者 刘宇阳 实习生 姚榕琰）12月24日，上海国泰海通证券资产管理有限公司（ ...

| 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | 1 | 国泰海通证券股份有限公司重庆解放碑证券营业部 | 4次 75.00% 9 | 15403.11 | 2.33% | | 2 | 88stmoney.com 深股通专用 | 683次 44.95% | 14448.90 | 2.19% | | 3 | 上海证券有限责任公司上海分公司 | 11次 63.64% | 12569.17 | 1.91% | | 4 | 机构专用 | 1564次 41.24% | 12408.97 | 1.88% | | 5 | 国盛证券有限责任公司宁波桑田路证券营业部 | 79次 54.43% | 10666.35 | 1.62% | | 击山人氛旦十的动力 | | | | | | 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | | 机构专用 | 1564次 41.24% 2 | 12408.97 | 1.88% | | 2 | 国泰海通证券股份 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 工银瑞信河北高速集团高速公路封闭式基础设施证券投资基金关于2025年11月主要运营数据的公告 一、公募REITs基本信息 ■ 二、基础设施项目2025年11月主要运营数据 2025年以来，基础设施项目整体运营情况良好，通行费收入来源分散，无重要现金流提供方，外部管理 机构未发生变动。基础设施项目2025年11月主要运营数据如下： ■ 备注：①日均收费车流量（不含节假日免费通行车）计算方法：当月总断面自然车流量/当月自然天 数；其中断面自然车流量指每个区段（门架）自然车流量按区段公里数加权平均后得出全程的断面自然 车流量； 三、其他说明事项 上述基础设施项目运营数据等相关披露内容已经过本项目的运营管理机构河北高速公路集团有限公司确 认。 截至本公告披露日，本基金投资运作正常，无应披露而未披露的重大信息，基金管理人将严格按照法律 法规及基金合同的规定进行投资运作，履行信息披露义务。 投资者可登录基金管理人网站(https://www.icbcubs.com.cn)或拨打基金管理人客户服务电话(400-811- 9999)进行相关咨询。 风险提示：基金管理人承诺以诚 ...

Group 1 - Over 60% of the top 10 domestic securities firms in China have chosen Tencent Cloud to build a new generation of domestic big data platforms [1] - Major institutions such as CITIC Securities, Guotai Junan, GF Securities, Galaxy Securities, CITIC Construction Investment, and CICC have partnered with Tencent Cloud's big data platform TDBS [1] - The collaboration aims to support the upgrade of data infrastructure in the AI era [1]

Core Viewpoint - The 22nd China International Financial Forum highlighted the positive outlook for the equity market in 2025, driven by strong economic resilience, improved corporate earnings, and favorable global liquidity conditions [1][3][4]. Group 1: Market Outlook - The equity market is expected to perform well in 2025, with market confidence and valuations recovering, surpassing earlier predictions [3][7]. - Factors contributing to this positive outlook include strong resilience in the Chinese economy, effective policy support, and an increase in long-term capital market stability [3][7]. - Corporate earnings growth is anticipated to improve in 2026 compared to 2025, indicating a positive trend for businesses [3][7]. Group 2: Global and Domestic Influences - Predictions suggest that the Federal Reserve will continue to lower interest rates, leading to increased global liquidity, which will benefit capital flows into the Chinese market [3][7]. - The real estate sector in China is stabilizing, prompting a shift in wealth allocation towards equities, thereby increasing the importance of the equity market in asset allocation [3][7]. Group 3: Structural Changes and Trends - There is a growing emphasis on new productive forces and self-reliance in technology, as well as an increasing trend of companies expanding internationally, including in the financial sector [4][8]. - Significant national policies, such as anti-involution measures, are expected to bring substantial marginal changes to traditional industries, which are worth monitoring [4][8]. Group 4: Debt Market Outlook - The debt market is predicted to experience a range-bound fluctuation, indicating a cautious approach to fixed income investments [9].