Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Securities Company Classification Evaluation Regulations (Draft for Solicitation of Comments)" to optimize the classification evaluation system for securities companies, emphasizing the promotion of functional roles and supporting differentiated development for small and medium-sized institutions [1][2] Group 1: Functional Orientation - The revision aims to enhance the ability of securities companies to serve the real economy and national strategies, with a focus on functional performance as a regulatory requirement [2] - The evaluation framework has been adjusted to include risk management, compliance, business development, and functional performance, highlighting the importance of serving the real economy and national strategies [2][3] Group 2: Incentives for High-Quality Development - The draft optimizes business development indicators to encourage high-quality growth and support differentiated operations for smaller institutions, reducing the emphasis on total revenue rankings [3] - The addition of net asset return rate as a significant factor for scoring aims to guide securities companies towards efficient operations and balanced business development [3][4] Group 3: Long-Term Capital Inflow Mechanism - The revision includes new indicators to facilitate the inflow of long-term capital, such as self-investment in equity assets and management of equity fund products, enhancing the ability to serve the real economy and investor wealth management [4] Group 4: Protection of Small Investors - The draft emphasizes a "punish the big and the bad" approach, adjusting the scoring system to better protect the interests of small investors and enhance the rationality of evaluation results [5][6] - The introduction of stricter penalties for major violations aims to increase compliance and risk management within the industry, ensuring that evaluation results reflect overall compliance and functional performance [6]

Core Insights - The report highlights the steady development of China's medical device industry during the "14th Five-Year Plan" period, indicating a positive growth trajectory [6] - The report notes a new cycle of large-scale construction in the computing power industry, driven by intensified industrial policies and capital enthusiasm, with specific stocks mentioned [8] - The report discusses the focus on several listed companies, including their recent projects and financial activities, indicating potential investment opportunities [10] Industry Updates - The China Federation of Logistics and Purchasing released the "China Medical Device Supply Chain Development Report (2025)", emphasizing the ongoing growth of the medical device sector [6] - A conference on integrated data market construction was held in Shanghai, showcasing advancements in data circulation and transaction technologies [6] - The computing power industry is entering a new phase of large-scale development, with stocks like Xiechuang Data and Shenghong Technology highlighted as key players [8] Company Focus - Huazheng New Materials has achieved mass sales of aluminum-plastic film products in energy storage and small power battery sectors, and is validating products in solid-state battery applications [10] - Star Semiconductor plans to issue convertible bonds to raise up to 1.5 billion yuan for various manufacturing projects, including automotive-grade SiC MOSFET modules [10] - EVE Energy's subsidiary is set to invest up to 8.654 billion yuan in a new energy storage battery project in Malaysia [10] Market Review and Outlook - On June 30, the total trading volume in the two markets was 1,486.9 billion yuan, with 3,874 stocks rising and 1,042 falling, indicating a slight contraction in trading volume compared to the previous day [12] - The three major indices opened slightly higher and showed a small upward trend, with small-cap stocks leading the gains [12] - The report notes that the strongest performing sectors included military and gaming, while banking and securities sectors experienced declines, suggesting a shift in market sentiment [13]

NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Compass Group Diversified Holdings, LLC ("Compass Diversified" or the "Company") (NYSE: CODI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Compass Diversified investors who were adversely affected by alleged securities fraud between February 24, 2022 and May 7, 2025. Follow the link below to get more information and be contacted by a member of our team: https:// ...

目录 | 要点 | 1 | | --- | --- | | 正文 | 2 | | 声明 | 8 | | 联络人 | | | 作者 | 结构融资部 | | 游进达 021-60330988 | jdyou@ccxi.com.cn | 负责人 www.ccxi.com.cn 编号：2025-AM06 2025 年 6 月 30 日 结构融资部 董事总经理 王 立 010-66428877-523 lwang03@ccxi.com.cn 结构融资部 评级总监 付春香 021-60330927 cxfu@ccxi.com.cn 中诚信国际 定期报告 资产证券化 发行节奏同比持续恢复，融资成本进一步下行 ——企业资产支持证券产品报告（2025 年 5 月） 要点 ◼ 发行情况：2025 年 5 月共发行企业资产支持证券 94 单，合计发行规模 832.10 亿元。 与上月相比，发行数量减少 54 单，发行规模下降 36.11%；与上年同期相比，发行数 量增加 19 单，发行规模上升 24.96%。发行产品涉及的基础资产类型主要为个人消 费金融、CMBS、企业融资租赁、应收账款和保理债权等。融资成本方面，一年期左 右 A ...

国铁集团偿债能力极强 全国铁路客流在2024年以来持续增长，货物运量稳步提升，预计未来随着人员加速流动，铁路客运或将 维持高位运行；货运需求在经济总体呈现"弱复苏"以及"公转铁"政策持续落地的背景下，仍将保持低速 增长态势。近日，中诚信国际信用评级有限公司（以下简称"中诚信国际"）在《中国国家铁路集团有限 公司2025年度跟踪评级报告》（以下简称"《报告》"）中发布上述信息。 《报告》认为，2024年以来随着出行需求持续释放，铁路客运量延续增长态势，货运量稳步增长，行业 整体情况向好。 国铁集团盈利水平或提升 《报告》称，国铁集团在铁路运输行业仍具有极强的垄断地位，2024 年以来经营业绩延续增长态势， 其中铁路完成旅客发送量40.85亿人次，增速超过10%；货运方面，2024年货物发送量39.85亿吨，连续8 年实现增长。 2024年全年铁路旅客发送量和周转量分别同比增长11.9%和7.3%。不过，同期受公路及民航客运周转量 大幅增长影响，2024年铁路客运周转量占全国客运总周转量的比重有所下降，但其在国内运输市场中仍 保持很强的竞争力。货运亦如此，《报告》称，受益于水路运输运量大、成本低等优势，水运依旧是 ...

证券研究报告——煤炭行业周报 动力煤价持续上涨，关注板块配置机会 ◆ 风险提示 终端需求大幅回落，板块轮动加快，板块突发利空。 请务必阅读最后一页免责声明 煤炭行情走势图 数据来源：Wind 大同证券 0.7 0.8 0.9 1.0 1.1 1.2 1.3 2024-07-05 2024-08-05 2024-09-05 2024-10-05 2024-11-05 2024-12-05 2025-01-05 2025-02-05 2025-03-05 2025-04-05 2025-05-05 2025-06-05 沪深300 煤炭指数 大同证券研究中心 分析师：刘永芳 执业证书编号：S0770524100001 【2025.6.23-2025.6.29】 行业评级：中性 核心观点 邮箱： liuyongfang@dtsbc.com.cn 地址：山西太原长治路 111 号山 西世贸中心 A 座 F12、F13 网址:http://www.dtsbc.com.cn 1 发布日期：2025.6.30 ◆ 上游港口库存继续下降，动力煤价持续上涨。本周，煤价持续 上涨，在供给收缩和旺季需求提升预期情况下，动力煤市场乐 ...

说几件想做但一直没开始做 / 没做好的事：1. 健身2. 语言能力进一步提升，包括英语、韩语、日语3. 考 CFA、考证券从业资格证身体是基础；语言能力是敲门砖，尤其是韩国现在 crypto 开放程度这么高，学会韩语应该会增加一定优势；考证是增加合规 + 政策放开之后的竞争力由于家里人在 A 股饿了十年，我时常在想如果我也一直做无业游民在加密饿十年会如何——想想山寨高手，别说饿十年了，A 股还能饿十年温饱，山寨高手饿十个月都已归零这种焦虑时常萦绕着我。依靠理财（尤其是 DeFi 挖矿）的风险较高，提升个人竞争力的需求已迫在眉睫不过你要是三个月后问我进度多少了，有可能大概率这个进度条还在 0% 😅 ...

房地产 | 证券研究报告 — 行业深度 2025 年 6 月 30 日 强于大市 资产证券化系列报告一 我国资产支持证券存量规模超 3 万亿元；公募 REITs 从破冰到常态化发行，未来空间可期 核心观点 投资建议： 风险提示： 政策风险：资产证券化产品相关政策超预期收紧，REITs 支持政策推进力度不及预期； REITs 相关租赁市场需求变化风险：市场波动下，租赁需求超预期下行，租金水平波动， 影响项目收入，同时面临租金定价调整风险；ABS 违约风险与流动性风险。 相关研究报告 《房地产行业 2023 年度策略——弩箭已离 弦，能否冰解的破？》（2022/12/18） 《中国真实住房需求还有多少？（2022 版）》 (2022/8/3) 《凡益之道，与时偕行——关于短期博弈与 长期格局的思考》(2022/6/15) 《从历史复盘中探讨本轮地产调控放松的最 佳路径与当前房企的生存法则》(2022/3/31) 中银国际证券股份有限公司 具备证券投资咨询业务资格 房地产行业 证券分析师：夏亦丰 近年来，随着资产支持证券产品发行规模的攀升，市场关注度越来越高，由于不动产既 具有可租赁的天然属性，能够形成长期稳定的现 ...

Group 1: Core Investment Opportunities - The technology sector is expected to experience significant growth in the second half of the year, particularly in the military and solid-state battery industries, which are seen as key investment hotspots [1] - The military sector is a national priority, with increased focus on asset securitization and strategic upgrades, especially in light of the upcoming 80th anniversary of the Anti-Japanese War parade, which will showcase advanced military equipment [3] - The solid-state battery industry is entering a golden development period, driven by its advantages such as high energy density and safety, making it a core power source for electric vehicles and energy storage [4] Group 2: Key Companies in Military and Solid-State Battery Sectors - Zhongke Electric has made significant technological breakthroughs in solid-state batteries and has military applications, showcasing strong market competitiveness [5] - Greeenmei has achieved major advancements in solid-state battery materials and has established long-term supply agreements with leading companies, while also expanding into military applications [6] - Youyan New Materials is the only domestic producer of high-purity lithium sulfide and has developed technologies that enhance battery life, with military certifications for its products [6] - A certain holding subsidiary is noted for its comprehensive technology layout in solid-state battery materials and has a strong market position, indicating potential for future growth in both military and civilian sectors [6]

以下文章来源于36氪出海 ，作者36氪出海 36氪出海 . 36氪出海（letschuhai.com）是关注出海的行业媒体，为企业跨境提供海外咨询及专业服务，同时运营着超万人的出海生态社群。 来源｜ 36氪出海（ID：wow36krchuhai） 封面来源 ｜ Unsplash 已秘密提交香港上市申请？文远知行回应 韩国首家小米之家线下门店开业 鱼你在一起泰国首店在曼谷开业 吉利汽车正式进军希腊市场 阿里巴巴2025财年收入9963.47亿元，跨境业务表现强劲 商务部：深入推进中国和南亚国家经贸合作 易控智驾完成超4亿元D轮融资 白皮书下载｜中转卡塔尔：中企参与沙特大型项目的物流新选择 2024年，沙特港口总计处理货物3.2078亿吨，同比大幅增长14.45%。但依赖单一运输路径的供应链风险不容忽视。 卡塔尔物流企 业海湾仓储公司（GWC）近期发布白皮书，提出创新物流解决方案Flow Port。 凭借卡塔尔独特的地缘优势，Flow Port为中国制 造商开辟了进入沙特市场的快速通道。通过减少海关和港口延误、简化跟踪和交付物流、提供可预测的库存进展，Flow Port构建 起连接亚洲制造业与沙特重点开发区域的物 ...