Group 1 - Chengdu Future Industry Angel Investment Fund Partnership Enterprise (Limited Partnership) has been established with a total investment of 5 billion yuan [1][2] - The fund's business scope includes private equity investment, investment management, and asset management activities [1][2] - The partnership is jointly held by Chengdu Industrial Investment Group Co., Ltd. and Chengdu Technology Transfer Venture Capital Co., Ltd. [1][2] Group 2 - The fund is registered in the Sichuan Province, specifically in Chengdu's Tianfu New Area [2] - The fund's operational period is from September 18, 2025, to September 17, 2043 [2] - Chengdu Industrial Investment Group holds a 99.98% stake in the partnership, while Chengdu Technology Transfer Venture Capital holds a 0.02% stake [2]

Core Viewpoint - The company operates primarily in investment management, with two main divisions: investment management services and strategic direct investments, focusing on self-investment in financial markets [8]. Financial Performance - The company reported a significant year-on-year revenue growth of 218.91% in 2022, followed by a decline of 46.68% in 2023 [11]. - The average return on equity for the first half of 2025 was 2.99%, a decrease of 2.86 percentage points compared to the same period last year [22]. Revenue and Profit Trends - The company's revenue and net profit showed fluctuations, with a notable increase in revenue in 2022, but a sharp decline in 2023 [11][12]. - The half-yearly revenue composition for 2025 indicates a diverse income stream, although specific figures are not detailed [16]. Asset and Liability Changes - As of the first half of 2025, long-term equity investments increased by 16.31%, while trading financial assets decreased by 4.41% [27]. - Other payables (including interest and dividends) saw a significant reduction of 65.78%, while tax payables increased by 32.54% [30]. Liquidity and Solvency - The company's current ratio stood at 10.39 in the first half of 2025, indicating strong liquidity [34]. - The asset-liability ratio has shown a decreasing trend, with the company maintaining a lower ratio compared to industry averages [32].

Group 1 - Ares Management Corporation has appointed Anup Agarwal as Partner and Chief Investment Officer of Ares Insurance Solutions, where he will also lead the business [1] - Agarwal will work alongside David Reilly, the newly appointed Chairman of AIS, and Rajesh Krishnan, who will focus on third-party insurance asset management initiatives [2] - Ares Insurance Solutions manages investment activities for Aspida Holdings Ltd., which holds over $23 billion in assets as of June 30, 2025 [2][3] Group 2 - Agarwal has over 25 years of experience in investment management, previously serving as Senior Investment Advisor at Global Atlantic Financial Group, where he managed a $200 billion insurance platform [4] - Kipp deVeer, Co-President of Ares, highlighted the growing opportunity to provide tailored solutions to insurers facing complex market challenges [5] - Agarwal expressed enthusiasm about joining Ares at a time of innovation in the insurance industry and looks forward to collaborating with colleagues to support clients [5]

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。 （於中華人民共和國註冊成立之股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） （股份代號：6886） 海外監管公告 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司2025年半年 度報告摘要》，僅供參閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 0 第一节 重要提示 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股份有限公司」及英文公司名稱「Huatai Securities Co., Ltd.」註冊為註冊非香港公司，其H股於 2015年6月1日在香港聯合交易所有限公司主板上市（股 票代碼：6886），其A股 ...

General Principles - The investment management measures aim to standardize the investment behavior of State Grid Yingda Co., Ltd., improve fund utilization efficiency, and protect shareholder interests [1] - Investments include fixed asset investments and equity investments, with significant projects requiring approval from shareholders and the board of directors [1][2] Investment Management Process - The company implements a comprehensive management approach for investments, covering planning, decision-making, execution analysis, and post-investment evaluation [2] - All investment activities must adhere to national laws, company regulations, and undergo a structured decision-making process [3] Investment Principles - Investments should align with national policies, enhance capital returns, and ensure asset safety through a robust risk management system [2][3] - Investment decisions are categorized into annual plans and project decisions, requiring documentation and signatures from decision-makers [3] Responsibilities and Oversight - The board of directors is responsible for approving investment plans and projects, while the management team handles preliminary reviews and progress reporting [4][5] - Various departments, including financial management, risk management, and legal compliance, have specific roles in overseeing investment activities [5][6] Execution and Reporting - Each unit must prepare annual investment plans based on business needs, which are subject to board approval [6][7] - Regular reporting on plan execution and project evaluations is required to ensure accountability and transparency [7] Accountability Measures - The company will investigate and impose penalties for any actions leading to investment decision errors or asset losses [8][29] - Directors and senior management are expected to fulfill their responsibilities, with consequences for any negligence leading to company losses [8][29] Implementation and Compliance - The investment management measures will take effect upon board approval, replacing the previous investment management system [10]

Core Viewpoint - The investment management system of Zhongnan Publishing and Media Group Co., Ltd. aims to enhance investment management, ensure compliance with legal processes, control investment risks, and achieve expected investment outcomes [1][2]. Investment Management Overview - The term "investment" refers to economic activities conducted by Zhongnan Media and its subsidiaries through cash, physical assets, or intangible assets to achieve expected operational returns [1]. - Investment management encompasses pre-investment evaluation, ongoing management, and post-investment management of various investment activities [1]. Principles of Investment Management - Investments must comply with national laws, relevant industrial policies, and the company's strategic development goals, focusing on core business and creating value [2]. - A centralized management approach is adopted for all investment activities, ensuring that investment plans align with annual financial budgets [2]. - Strict measures are implemented to minimize risks associated with investments, aiming for maximum investment returns [2]. Management Structure and Responsibilities - Investment decisions are made by the shareholders' meeting, board of directors, and chairman within their authority [3]. - The investment management department is responsible for formulating and implementing investment strategies, reviewing investment projects, and overseeing post-investment management [4]. Investment Project Approval Process - The project selection process involves information collection, preliminary review, and submission of pre-review opinions to relevant leaders [4][5]. - After initial analysis, project units submit project establishment applications for approval according to their authority [5]. - Due diligence is conducted on approved projects, involving financial, legal, and business assessments [5]. Investment Classification Management - Investment management is categorized into professional investment company management, equity investment management, financial investment management, fixed asset investment management, and major research and development project management [6][8]. - Specific investment limits are set for different subsidiaries, with varying approval requirements based on the investment amount [8][9]. Risk Control Measures - A comprehensive risk control system is established to minimize investment risks, including regular guidance from headquarters to subsidiaries [10]. - Specialized risk control committees or departments are required for professional investment companies to oversee investment safety and risk management [10]. Post-Investment Management - The implementation of investment projects is the responsibility of the project unit, which must track progress and report on performance [12]. - A post-investment evaluation system is established to assess the effectiveness of investment projects, with evaluations conducted at specified intervals [15]. Investment Project Disposal and Exit - The company may dispose of or exit investment projects under specific circumstances, such as the completion of the investment period or significant changes in market conditions [17]. - The procedures for disposal and exit align with the approval processes for initial investments [17]. Information and Document Management - An investment management information system is established to monitor and analyze investment plans, project progress, and returns [25]. - Confidentiality is maintained for major investment project information until officially disclosed [26].

Core Points - The document outlines the investment management measures of Wuhan East Lake Hi-Tech Group Co., Ltd. to ensure standardized, orderly, and healthy development of investment activities while protecting the interests of the company and its investors [1][2][3] Investment Principles - Investments must align with national development plans and industrial policies [2] - Investments should comply with the requirements of the Hubei Provincial State-owned Assets Supervision and Administration Commission and the controlling shareholder [2] - Investments must adhere to the company's strategic development plans and main business direction [2] - The overall investment return rate (after tax) for projects should not be less than 6% [2][3] Prohibited Investment Behaviors - Investments in companies that are insolvent or have no hope of turning around are strictly prohibited [1] - Collaborations with companies that have poor credit, low asset quality, or lack investment capability are forbidden [1] - Investments in industries with serious overcapacity are not allowed [1] Investment Project Classification - Investment projects are categorized into merger and acquisition projects, non-merger projects, and fund investment projects [3] Investment Decision Process - Investment projects must go through a structured decision-making process including project initiation, preliminary review, and final decision-making by the board of directors or shareholders [3][4] Post-Investment Management - The company will conduct regular performance evaluations of invested projects based on revenue, profit, and cash flow to ensure expected investment goals are met [12][15] Annual Investment Planning - Each subsidiary must prepare an annual investment plan by December 31 each year, which will be consolidated and submitted for board approval [9][10] Responsibility and Accountability - Company personnel who violate investment regulations leading to asset loss will be held accountable according to the company's management measures [26][27]

Core Viewpoint - The investment management measures of Hunan Tianyan Machinery Co., Ltd. aim to standardize investment behavior, allocate resources effectively, enhance investment returns, and control investment risks in alignment with the company's strategic development needs [1][2]. Investment Definition and Scope - Investment refers to fixed asset investment, long-term equity investment, and private equity fund investment, including fixed assets like buildings, equipment, and intangible assets [1][2]. - Major investment projects require approval from the company's shareholders' meeting or board of directors [4]. Investment Principles - Investment activities must adhere to new development concepts, support industrial transformation, and focus on high-end, intelligent, low-carbon, and green development [8][9]. - Emphasis on strategic planning, innovation-driven development, digital transformation, and green development is crucial [8][9][10]. Investment Management Structure - The company's shareholders' meeting is the highest decision-making body for investment decisions, with the board of directors authorized to manage and decide on annual investment plans [10][11]. - The investment management department is responsible for the overall management of the investment system, including planning and project feasibility studies [6][7]. Decision-Making Process - Investment decisions are based on approved long-term development plans and annual budgets, with a clear classification of decision-making authority [18][19]. - Projects requiring significant investment must undergo expert evaluations and adhere to a strict decision-making process [23][24]. Risk Management - The company is responsible for managing investment risks, with a focus on identifying and assessing risks at all stages of the investment process [37][38]. - A comprehensive risk management framework is established to monitor and control risks dynamically [41][42]. Project Implementation and Supervision - Projects must be implemented according to approved plans, with strict controls on changes to project scope and budget [43][44]. - Regular evaluations and audits are conducted to ensure compliance and assess project outcomes [49][50]. Evaluation and Accountability - The investment management department conducts annual evaluations of investment activities, which influence personnel assessments and compensation [52][53]. - A mechanism for accountability is established to address violations and ensure responsible management of investment activities [56][57].

Core Points - The financial management system of Fujian Dongbai Group Co., Ltd. aims to enhance financial management, standardize internal controls, and improve the quality of financial information [1][2] - The system applies to the company and all subsidiaries within the consolidated financial statements [1] - The basic principles of financial management include unified management, hierarchical responsibility, authorization and approval management, separation of duties, and internal supervision [1][2] Financial Management System - The president is fully responsible for daily financial management and reports to the board of directors [3] - The company has a financial director appointed by the board, responsible for overall financial activities [3] - The financial center of the group implements financial management across the enterprise, with subsidiary financial personnel under its unified leadership [3] Accounting Basis and Norms - The company follows national accounting standards and develops accounting policies accordingly [4] - Accounting policies must remain consistent across accounting periods unless changes are required by law or for improved reliability [4] - All accounting records must be based on actual economic transactions, and no false information is allowed [4][5] Fund Management - The company implements centralized fund management and budget control to meet financial needs while minimizing costs [6] - All fund payments require appropriate authorization based on the nature of the payment [6] - A responsibility system is established for monetary fund operations to ensure separation of duties and supervision [6] Budget Management - The company practices comprehensive budget management, including operational, investment, and financing budgets [7] - The budget is prepared based on strategic requirements and is subject to regular monitoring and reporting [7][8] - Adjustments to the budget are made only under significant changes in market conditions or operational needs [8] Investment Management - Investment management includes both internal and external investments, with a dedicated investment decision-making committee [9] - The company must maintain proper accounting for investments and ensure compliance with internal management procedures [9] Asset Management - The company manages various assets, including receivables, inventory, fixed assets, and intangible assets [10][11] - Regular assessments and audits of assets are conducted to ensure their safety and value [10][11] Liability Management - Liabilities are categorized into current and non-current, with specific management practices for each type [40] - The company maintains detailed records of accounts payable and contract liabilities [41] Owner's Equity and Profit Distribution - Owner's equity includes capital stock, capital reserves, and retained earnings, with specific rules for profit distribution [43][44] - The board of directors must implement profit distribution decisions within two months of shareholder approval [48] Cost and Expense Management - The company controls costs and expenses through budget management, ensuring accountability for budget execution [49][50] Tax Management - Tax management focuses on legal compliance and cost-effectiveness, with regular assessments of tax risks [52][53] - The financial department is responsible for identifying and managing tax risks systematically [56][57] Financial Reporting and Analysis - Financial reports must adhere to national accounting standards and be prepared accurately [58][59] - Regular financial analysis meetings are held to evaluate the company's financial status and operational performance [61] Financial Information System - The company utilizes a unified financial information system for accounting and financial management [62][63] Financial Supervision and Control - Internal controls are established to ensure effective supervision and separation of incompatible duties [65][66] - The board's audit committee oversees financial activities and internal audits [66]

Core Points - The article outlines the investment management measures of China Petroleum Engineering Group Co., Ltd. to enhance investment efficiency and reduce risks [1] - The investment management framework is designed to comply with national laws and regulations, align with the company's development strategy, and ensure the safety of funds [1][2] - The company categorizes investments into short-term and long-term, with specific guidelines for each type [2] Investment Principles - Major investments must adhere to national laws, align with the company's strategic goals, and focus on risk prevention [1] - Investments requiring government approval must follow necessary procedures to ensure compliance with macroeconomic policies [2] Decision-Making Authority - The Board of Directors and the Shareholders' Meeting are the decision-making bodies for investments, with significant projects requiring prior review by the company's Party Committee [7] - Investments meeting certain thresholds must be approved by the Board and then submitted to the Shareholders' Meeting for approval [8][9] Internal Control - The Development Planning Department is responsible for managing investment projects, including feasibility studies and final investment decision reviews [16] - Various departments, including Finance, Market Analysis, and Project Management, have specific roles in evaluating and overseeing investment projects [18][20] Annual Investment Planning - The annual investment plan consists of a framework plan and batch plans, with the framework plan requiring approval from the Party Committee and the Board of Directors [24][25] - Projects included in the batch plan must comply with the overall investment scale and have completed the necessary approval procedures [27] Implementation and Supervision - After approval, the designated department or subsidiary leads the implementation of investment projects [28] - The Strategic and ESG Committee, along with the Audit and Risk Committee, has the authority to supervise and inspect investment activities [30] Information Disclosure - The company must adhere to legal requirements for information disclosure related to investments, ensuring that all provided information is accurate and timely [32][33]