Core Viewpoint - Investor protection is essential for the high-quality development of listed companies and the healthy growth of capital markets, as emphasized by the company during the "5.15 National Investor Protection Promotion Day" [1] Group 1: Investor Rights Protection - The company views investor rights protection as a crucial aspect of corporate governance and places it at the core of its development strategy [1] - The company aims to enhance transparency in information disclosure and establish a two-way communication platform [1] - Measures such as optimizing dividend policies and implementing stock buybacks are being taken to improve the investor return mechanism [1] Group 2: Dividend Policy - A stable dividend policy showcases the company's financial strength and cash flow, enhancing investor confidence and promoting long-term value investment [2] - Since its listing, the company has distributed a total of 9.43 billion yuan in cash dividends, which accounts for 32.63% of the net profit attributable to the parent company, significantly exceeding the total financing amount of 4.68 billion yuan [2] - For 2024, the company has implemented a mid-term dividend to further stabilize investor expectations and attract long-term funds from low-risk investors [2] Group 3: Stock Buyback - The company has initiated stock buybacks as an effective means to boost investor confidence and demonstrate recognition of its own value [3] - As of the end of April, the company has repurchased 14.7161 million shares for a total amount of 243 million yuan, reflecting management's confidence in the company's intrinsic value [3] - The company emphasizes that investor protection is a shared value choice among market participants and plans to continue improving its investor protection system [3]

此次开放日活动深度契合"5·15全国投资者保护宣传日"的核心主旨，通过创新互动形式搭建起上市公司 与投资者的沟通桥梁。本次活动不仅让投资者获得沉浸式的企业认知体验，更通过多维度交流促进上市 公司完善治理、提升质量。作为一场凝聚监管部门、上市公司、投资者多方合力的投保宣传活动，有效 强化了市场主体的投资者保护意识，为优化资本市场生态、增强投资者信心贡献了积极力量，有力助推 了区域资本市场的高质量发展进程。 为全面落实党的二十大和二十届二中、三中全会精神以及中央金融工作会议部署要求，更加有效保护投 资者特别是中小投资者合法权益，根据证监会统一部署，2025年5月19日，在天津证监局的指导下，由 天津上市公司协会主办，天津凯发电气股份公司承办【"5·15全国投资者保护宣传日——走进上市公司 凯发电气"】活动。天津上市公司协会、证券时报、上证报、证券日报、中证报、全景网、天津辖区证 券经营机构领导及相关负责人、个人投资者共计30余人参加。 天津凯发电气股份有限公司于2000年1月25日成立，主营业务覆盖电气化铁路和城市轨道交通两大领 域。是国内最早从事高速电气化铁路牵引供电自动化系统的厂商之一。于2014年12月3日 ...

证券研究报告|行业研究周报 [Table_Date] 2025 年 05 月 18 日 [Table_Title] 投资者保护再迎新规 [Table_Title2] 非银金融周报 [Table_Summary] 报告摘要: 本周（2025. 5.11-2025. 5.17）A 股日均交易额 12,4 76 亿元，环比减少 7.8%，同比增加 44 .4%。20 25 年二季度至今 日均成交额 12,5 66 亿元,较 2024 年二季度日均交易额增加 51.7%。202 5 年至今日均成交额 14,31 7 亿元,较 2024 年日均 交易额增加 64.3 %。投行：本周无新股发行；本周上市新股 3 家，募集资金 13.0 亿元。2025 年至今，A 股 I PO 上市 40 家，募集金额 260. 5 亿元。2024 年，A 股 IPO 上市 10 0 家， 募集金额 673 .5 亿元。两融：截至 202 5 年 5 月 15 日，两市 两融余额 18, 084.9 7 亿元，环比减少 0.01 %，较 202 4 年日均 水平增加 15. 41%。两市融券余额 117.68 亿元，占两融比例为 0.65 ...

证券研究报告|行业研究周报 [Table_Date] 2025 年 05 月 18 日 [Table_Title] 投资者保护再迎新规 [Table_Title2] 非银金融周报 [Table_Summary] 报告摘要: 本周（2025. 5.11-2025. 5.17）A 股日均交易额 12,4 76 亿元，环比减少 7.8%，同比增加 44 .4%。20 25 年二季度至今 日均成交额 12,5 66 亿元,较 2024 年二季度日均交易额增加 51.7%。202 5 年至今日均成交额 14,31 7 亿元,较 2024 年日均 交易额增加 64.3 %。投行：本周无新股发行；本周上市新股 3 家，募集资金 13.0 亿元。2025 年至今，A 股 I PO 上市 40 家，募集金额 260. 5 亿元。2024 年，A 股 IPO 上市 10 0 家， 募集金额 673 .5 亿元。两融：截至 202 5 年 5 月 15 日，两市 两融余额 18, 084.9 7 亿元，环比减少 0.01 %，较 202 4 年日均 水平增加 15. 41%。两市融券余额 117.68 亿元，占两融比例为 0.65 ...

本报记者 毛艺融 由《证券日报》社有限责任公司主办，中证中小投资者服务中心有限责任公司、中国上市公司协会为支 持单位，北京基金小镇投资者教育基地、东方财富、第一创业证券联合举办的第七届"5·15—5·19中小投 资者保护宣传周"公益活动，于5月15日至19日在北京、上海、深圳三地盛大开启。 此次公益活动以"践行'三投资'，筑牢'两防范'"为主题，邀请了券商首席分析师、公益律师、上市公司 代表等通过主题分享、圆桌讨论的形式，为投资者们普及投资知识，倡导理性投资、价值投资和长期投 资理念，提升投资者的风险意识和自我保护能力。 5月17日，"5·15—5·19中小投资者保护宣传周"公益活动走进深圳，各市场参与主体代表齐聚第一创业， 与在场投资者进行分享交流。 作为资本市场的重要监督力量和信息传播者，媒体肩负着重要责任。证券日报内审委委员彭春来表示， 投资者保护是多方协同的系统工程，需以"践行三投资，筑牢两防范"为行动纲领，凝聚各方力量，共同 构建健康、稳定、繁荣的资本市场，推动资本市场高质量发展。"《证券日报》作为综合性证券专业媒 体，多年来，和其他兄弟媒体在投资者保护宣传方面付出诸多努力，成果显著。今后，我们将更 ...

Group 1 - The article emphasizes the importance of investor protection in the capital market, highlighting that investors are the "cells" of the market and their protection is vital for market vitality [1] - The initiative to establish a National Investor Protection Awareness Day on May 15 aims to promote rational investment culture and strengthen investor protection awareness [1][2] - The article outlines three core objectives: knowledge dissemination, risk warning, and rights protection for investors [2] Group 2 - It discusses the principle of "seller responsibility," where financial institutions must recommend products suitable for the investor's risk profile, and "buyer responsibility," where investors must understand the risks and terms of the products they invest in [4] - The article warns against three typical traps: high-yield investments promising returns over 6%, unverified stock recommendations, and claims of guaranteed returns on non-deposit products [6][7][8] - It advises investors to retain evidence of transactions and communications for at least five years and outlines the channels for seeking redress in case of disputes [9] Group 3 - The article presents three golden rules for rational investment: avoid investing in products that are not understood, refrain from using high-interest loans for investment, and resist blindly following market trends [11] - It encourages the use of official channels to verify product information and ensure the legitimacy of investment products [12]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has intensified its enforcement actions against market manipulation and insider trading, resulting in significant penalties for violators, including a recent case where an individual was fined a total of 294 million yuan for manipulating the securities market [1][2][7]. Group 1: Enforcement Actions - In 2024, the CSRC investigated 739 cases of securities and futures violations, issuing 592 penalty decisions, with insider trading cases accounting for 178 and market manipulation cases for 71, representing 24% and 10% of the total, respectively [1][7]. - The CSRC aims to create a safer investment environment by focusing on serious violations that harm the interests of small investors, such as insider trading and market manipulation [1][7]. Group 2: Specific Cases - He Mou Ru was found to have manipulated the market by controlling multiple securities accounts and using a "limit-up" strategy, resulting in illegal profits of 147 million yuan, leading to a total penalty of 294 million yuan [2][3]. - Other individuals, such as Yang and Xie, have also faced substantial penalties for market manipulation, with Yang fined 280 million yuan for profits of 140 million yuan and Xie fined approximately 95.7 million yuan for profits of 81.45 million yuan [4][5]. Group 3: Legal Developments - The CSRC has introduced a landmark case involving a civil lawsuit for market manipulation, marking the first instance of a support lawsuit combined with loss assessment by an investor protection agency [5][6]. - The case against Wang Mou Yuan, who manipulated multiple stocks using 145 accounts, resulted in a penalty of 570 million yuan, and subsequent civil actions led to a favorable ruling for investors, highlighting the evolving legal landscape in addressing market manipulation [6].

Group 1 - The core point of the article is the increasing enforcement actions by the China Securities Regulatory Commission (CSRC) against market manipulation, highlighted by the recent penalty of 294 million yuan imposed on He Mou Ru for manipulating the securities market [1][2][3] - He Mou Ru was found to have manipulated stock prices by controlling multiple securities accounts and using tactics such as "locking the涨停" (price limit) to generate illegal profits totaling 147 million yuan, leading to a total penalty of 294 million yuan [1][2] - In 2024, the CSRC has intensified its crackdown on securities and futures violations, handling 739 cases and issuing 592 penalties, with market manipulation cases accounting for 10% of the total [3] Group 2 - This year, three individuals have received penalties exceeding 750 million yuan for stock manipulation, with He Mou Ru's case being one of the significant examples [3] - Other notable cases include Xie Mou, who was penalized 177 million yuan for manipulating multiple stocks with illegal profits of 81.45 million yuan, and Yang Mou, who faced a total penalty of 280 million yuan for manipulating stocks with illegal profits of 140 million yuan [3] - The CSRC aims to enhance its enforcement capabilities and maintain investor rights while promoting a high-quality capital market through stringent regulatory measures [3]

Core Viewpoint - The "2024 Annual Online Collective Reception Day for Investors of Yunnan Listed Companies" successfully concluded, serving as a significant platform for communication between listed companies and investors [1][3]. Group 1: Event Overview - The event was guided by the Yunnan Securities Regulatory Bureau and hosted by the Yunnan Listed Companies Association, with participation from 38 A-share listed companies [1][3]. - Key executives, including chairpersons, general managers, and financial directors, attended to engage with investors [3]. - The event is part of a broader initiative to enhance investor education and protection in the Yunnan region [4]. Group 2: Company Performance - In 2024, Yunnan's A-share listed companies achieved total revenue exceeding 600 billion yuan and a net profit of approximately 30.3 billion yuan, both showing positive year-on-year growth [5]. - The information disclosure standards of Yunnan listed companies have improved, with six companies receiving the "New Fortune Gold Medal Secretary" award, marking the best performance in the region's history [5]. - Companies in Yunnan are increasingly focusing on market capitalization management, demonstrating confidence in their own development and the stability of the capital market [5].

转自：新华财经 第七个"5·15全国投资者保护宣传日"期间，建行上海市分行积极响应号召，践行"金融为民"理念，围 绕"投资理财长长久久 建行消保温暖相伴"主题，累计开展活动上百场形式新颖的投资者保护教育宣传 活动，覆盖人群数万人，将金融知识送到群众身边，以实际行动为投资者的财产安全保驾护航。 多元场景深渗透，金融知识惠万家 建行上海市分行创新金融知识普及模式，采取"政策解读+知识科普+实操指导"三位一体方式开展多维 宣教活动，精准覆盖不同群体需求。 针对科技企业员工，新片区分行实施分层教育：面向初学者通过漫画手册、趣味短视频讲解理财产品分 类及基金运作原理；为有经验员工开设"进阶投资策略"专场，解析股市风险与资产配置技巧。张江分行 则走进高校开展专题讲座，以案例教学普及投资知识，警示校园贷、刷单诈骗等风险，帮助学生树立理 性投资观念。 对于老年群体，闵行、长宁、奉贤支行联合社区机构开展适老化宣传，通过通俗讲解金融消费者权益、 拆解"高息理财"骗局、演示实用验钞技巧，并发放《防诈骗指南》等资料。重点针对非法荐股、投资陷 阱等老年易受害领域进行深度风险提示，切实提升防诈能力。各分支机构通过差异化宣教策略，有效强 ...