2025年年末， 酒店资产被正式纳入REITs范畴，无论是基础设施公募REITs还是商业不动产REITs，都对 这类资产开放了大门。此次大同-中航-依云四季酒店文旅持有型不动产ABS项目，也意味着国内酒店资 产正式进入公募REITs和机构间REITs"双轨并行 " 的局面。 据了解，这是市场首单酒店持有型不动产ABS项目，也是深交所首单、市场第二单文旅类持有型不动产 ABS项目，市场首单贴标"百千万工程"的持有型不动产ABS项目。 该项目底层资产为位于惠州市的南昆山温德姆度假酒店和依云四季温泉，是温德姆在国内的首个温泉酒 店，获中国五星级温泉和优质珍稀温泉双品牌认证。项目所处位置在广东省重点发展的环南昆山—罗浮 山县镇村高质量发展引领区，也是广东省深入实施"百县千镇万村高质量发展工程"的标杆项目。 新华财经北京2月12日电据深交所官网显示，2月11日，大同-中航-依云四季酒店文旅持有型不动产ABS 项目正式申报并获受理。该项目原始权益人为惠州依云四季酒店管理有限公司，计划管理人为大同证券 有限责任公司，销售机构和财务顾问为中航证券有限公司，拟发行规模4.65亿元。 （文章来源：新华财经） ...

Group 1 - The core point of the article is that AVIC Securities Co., Ltd. has recently had a new equity freeze information added, involving a frozen equity amount of approximately 1.61 billion RMB for a period of three years [1] - The frozen equity is related to AVIC Investment Holding Co., Ltd., which is the party being executed [1] - The executing court for this case is the Beijing Third Intermediate People's Court [1] Group 2 - AVIC Securities was established in October 2002 and has a registered capital of approximately 7.33 billion RMB [1] - The legal representative of AVIC Securities is Qi Xia [1] - The company's business scope includes securities brokerage, securities investment consulting, and securities underwriting and sponsorship [1]

Group 1 - The company has established a special account for raised funds and signed a tripartite supervision agreement to ensure proper management and protection of investor rights [3][5][6] - The company issued 88,287,227 shares at a price of 33.98 yuan per share, raising a total of approximately 2.999 billion yuan, with a net amount of approximately 2.968 billion yuan after deducting issuance costs [2][4] - The tripartite supervision agreement involves the company, its wholly-owned subsidiary, and independent financial advisors, ensuring compliance with relevant regulations and oversight of fund usage [6][8][9] Group 2 - The agreement stipulates that the raised funds will be managed in a dedicated account, with specific provisions for the storage and usage of funds, including the prohibition of pledging the funds [6][7] - The independent financial advisors have the authority to supervise the fund usage and can conduct on-site investigations and inquiries [7][8] - The agreement is effective upon signing and will remain in force until all funds are fully utilized and the account is legally closed [10]

Group 1 - The company has received approval from the China Securities Regulatory Commission for the registration of a stock issuance to specific investors [1] - The approval allows the company to issue stocks according to the submitted documents and issuance plan to the Shenzhen Stock Exchange [1] - The approval is valid for 12 months from the date of registration [1] Group 2 - The company is required to report any significant events to the Shenzhen Stock Exchange before the completion of the stock issuance [2] - The board of directors will handle the stock issuance matters within the stipulated timeframe and fulfill information disclosure obligations [3] Group 3 - Contact information for the issuer, Beijing Zhizhen Technology Co., Ltd., and the sponsor institution, AVIC Securities Co., Ltd., is provided for investor inquiries [4]

Group 1 - The company has announced the election of its sixth board of directors, following the expiration of the fifth board's term [1][2] - The sixth board will consist of 9 directors, including 5 non-independent directors and 3 independent directors, along with 1 employee representative director [1][2] - The election of the new board members is scheduled to be submitted for approval at the company's first extraordinary general meeting of 2026 [2][3] Group 2 - The candidates for the sixth board include non-independent directors such as Ji Hongsheng, Zeng Qiang, Zhang Xiaojun, Zhou Jianhua, and Zhou Wei, and independent directors Chen Liancheng, Chen Liang, and Zhao Yin [2][3] - The independent director candidates have met the qualifications required by relevant laws and regulations, ensuring they are fit to serve [3][11][12][14] - The current board members have been recognized for their diligence and contributions to the company's development during their tenure [3] Group 3 - The first extraordinary general meeting of 2026 is set for January 30, 2026, at 14:30, in Chengdu, Sichuan Province [16][17] - The meeting will utilize a combination of on-site and online voting methods, with specific timeframes for each voting method [18][19] - The company will provide reminders to small and medium-sized investors to ensure their participation in the voting process [20] Group 4 - The company has announced a share reduction plan by its shareholder, Zhonghang Yihua Fund Management Co., Ltd., which holds 2.05% of the company's total shares [36][37] - The reduction plan involves selling up to 6,750,000 shares within three months, starting 15 trading days after the announcement [40] - The shareholder has committed to not transferring shares for a specified period, ensuring compliance with relevant regulations [42]

每经头条（nbdtoutiao）——海利生物增值9倍并购的企业，估值8个月"腰斩"，其第一大客户竟是尚未 成立的公司，离奇的事还不少…… （记者 王瀚黎） 每经AI快讯，中无人机1月14日晚间发布公告称，截至本公告披露日，中航（成都）无人机系统股份有 限公司股东中航融富基金管理有限公司-北京中航一期航空工业产业投资基金（有限合伙）直接持有公 司股份约1382万股，占公司总股本的2.05%。相关股份来源于公司首次公开发行前持有的股份，已于 2025年6月30日起上市流通。本次减持，中航一期基金的执行事务合伙人中航融富基金管理有限公司为 中国航空工业集团有限公司的所属企业，中航一期基金与航空工业集团构成法定一致行动关系。航空工 业集团直接持有公司股份约1.12亿股，其一致行动人中国航空工业集团公司成都飞机设计研究所直接持 有公司股份1.1亿股、成都飞机工业（集团）有限责任公司直接持有公司股份6750万股、中航技进出口 有限责任公司直接持有公司股份约4346万股、航证科创投资有限公司直接持有公司股份约1659万股、中 航证券有限公司直接持有公司股份约8.3万股。相关一致行动人合计持有公司股份约3.64亿股，占公司总 ...

| 买入营业部名称 | 买入金额(万元) | | --- | --- | | 华泰证券股份有限公司江西分公司 | 1443.68 | | 开源证券股份有限公司西安西大街证券营业部 | 991.08 | | 天风证券股份有限公司浙江分公司 | 894.20 | | 中信建投证券股份有限公司福州东街证券营业部 | 809.16 | | 国新证券股份有限公司长沙韶山路证券营业部 | 718.75 | | 卖出营业部名称 | 卖出金额(万元) | | 方正证券股份有限公司武汉中山大道证券营业部 | 1606.99 | | 中航证券有限公司吉安广场北路证券营业部 | 919.31 | | 华泰证券股份有限公司南京郑和中路证券营业部 | 756.73 | | 民生证券股份有限公司苏州分公司 | 572.32 | | 机构专用 | 515.60 | （文章来源：证券时报网） 1月13日近岸蛋白（688137）收盘价49.60元，收盘上涨15.43%，全天换手率17.78%，振幅21.29%，成交 额2.91亿元。科创板交易公开信息显示，当日该股因日收盘价涨幅达15%等上榜。 证券时报·数据宝统计显示，上榜的前五大买卖营业部 ...

Core Viewpoint - The Shanghai Stock Exchange has issued detailed feedback on the listing application for the "AVIC Nuclear Group Energy Closed-End Infrastructure REIT," focusing on the sustainability of cash flows from underlying assets, which is crucial for infrastructure REITs [1] Group 1: Feedback Focus Areas - The feedback highlights concerns regarding the generation capacity and stability of the underlying wind power projects, noting a trend of declining output and increasing curtailment rates, which could impact future cash flows [2] - The exchange is particularly focused on the resilience of project revenues amid declining market electricity prices and the expiration of national subsidies, questioning whether the valuation models adequately reflect these policy changes [3] - There are inquiries about historical cost fluctuations and future operational expense forecasts, emphasizing the need for clarity on the necessity and efficiency of the complex three-tier operational management structure [3] Group 2: Market Implications - The feedback signals a shift in the REITs review process from macro narratives to micro validations, providing investors with more detailed operational data to make informed value judgments [4] - The unique risk profile of renewable energy infrastructure is highlighted, including policy risks, physical risks, structural risks, and management risks, which investors need to consider [4] - As the public REITs market continues to expand, establishing a multi-dimensional risk assessment framework is becoming increasingly urgent for investors [5] Group 3: Investment Considerations - Investors are advised to focus on verifying the authenticity of underlying asset ownership, assessment reports, and cash flow data, while also evaluating the REITs management experience and risk control systems [5] - The concept of a "safety cushion" is emphasized, which includes operational hedging mechanisms and clear governance structures to ensure asset independence and stable operations [6] - The wind power public REITs market is projected to grow significantly, with expectations of reaching a market size of over 50 billion by 2028, driven by the demand for revitalizing existing wind power assets [6][7] Group 4: Future Outlook - The wind power public REITs are positioned to benefit from supportive policies, industry upgrades, and capital influx, creating a substantial market opportunity [8] - Investors are encouraged to adopt a scientific evaluation system focusing on asset quality, operational capability, valuation levels, and policy adaptability to identify quality investment targets [8] - The long-term growth potential of wind power public REITs aligns with the green transition trend, making them a vital link between the green industry and capital markets [8]

Core Viewpoint - The company has signed sales agency agreements with several securities firms to expand the list of brokers for the subscription and redemption of specific exchange-traded funds (ETFs) starting from January 5, 2026 [1][2]. Group 1: Fund Expansion - The company will add Zheshang Securities as a broker for the subscription and redemption of the Yinhua CSI AAA Technology Innovation Corporate Bond ETF (trading name: Kexin Bond ETF Yinhua, fund code: 159112) and the Yinhua GEM Comprehensive ETF (trading name: GEM Comprehensive ETF Yinhua, fund code: 159288) [1]. - The company will also add AVIC Securities as a broker for the subscription and redemption of the Yinhua CSI AAA Technology Innovation Corporate Bond ETF (trading name: Kexin Bond ETF Yinhua, fund code: 159112) [1]. - Additionally, Ping An Securities will be added as a broker for the subscription and redemption of the Yinhua MSCI China A-Share ETF (trading name: MSCI China, fund code: 512380) [1].

Core Viewpoint - The project status of the China Aviation Beijing Changbao Rental Housing Closed-End Infrastructure Securities Investment Fund has been updated to "declared," marking a significant step in the asset securitization process of affordable housing in Beijing's Changping District [1]. Group 1: Project Overview - The original rights holder of the fund is Beijing Changping Affordable Housing Construction Investment Management Co., Ltd., which specializes in the construction, investment, and management of affordable housing in Changping District [1]. - Changping District is a key industrial area in northern Beijing, attracting numerous high-tech enterprises and research institutions, providing a stable tenant structure [1]. - During the 14th Five-Year Plan period, Changping District has built over 50,000 units of various types of affordable housing, with a total construction area of 4.33 million square meters, forming a solid foundation for the REITs project [1]. Group 2: Market Implications - More than 70% of the affordable rental housing is targeted at new citizens and young people, addressing the urgent demand for talent in urban development [1]. - The fund's declaration signifies a local response to national policies and an innovative practice in exploring sustainable development for affordable housing [1]. - The ongoing improvement of regional infrastructure and the increasing industrial agglomeration effect will support the "integration of industry and city, balance of work and residence" development strategy in Changping District, leading to stable operation and long-term appreciation of affordable housing assets [1][2].