（文章来源：证券日报） 证券日报网讯 12月30日，中绿电在互动平台回答投资者提问时表示，上市公司股价受到公司基本面、 国内外经济形势、行业政策、投资周期轮动及市场情绪等多重因素影响。公司一直以来积极响应监管要 求和投资者诉求，高度重视并开展了系列市值管理工作，包括强化顶层设计、加强信披投关工作力度、 实施中期分红和股份回购等。下一步，公司也将把市值管理作为一项常态化、系统化工程，聚焦价值创 造、价值经营、价值传递等方面，持之以恒、久久为功，全力推动公司股价符合公司内在价值，切实保 护广大投资者合法权益。 ...

证券日报网讯12月30日，辽港股份（601880）在互动平台回答投资者提问时表示，公司高度重视市值管 理工作，已通过分红、回购、大股东增持、经营提质等多项实质性举措，推动市值稳步回升，切实以实 际行动回馈全体股东。但股价涨跌机制极为复杂，其走势不仅与公司自身经营管理相关，更受多重外部 因素叠加影响。目前，公司生产运营稳定，财务状况稳健，将严格遵循相关法律法规及监管规定，履行 信息披露义务。 ...

一、审议通过关于制定《市值管理制度》的议案 表决结果：8票同意、0票弃权、0票反对。 二、审议通过关于《部分子企业经营指标》的议案 证券代码：601718 证券简称：际华集团 公告编号：临2025-068 际华集团股份有限公司 第六届董事会第十五次会议决议公告 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。 际华集团股份有限公司（以下简称"公司"）第六届董事会第十五次会议于2025年12月29日召开，会议采 取通讯表决方式进行。应出席会议的董事8人，实际出席会议的董事8人。会议按照会议通知所列议程进 行，会议召集、出席会议董事人数、召开程序等符合有关法律法规和公司章程规定。会议经审议，形成 如下决议： 特此公告。 际华集团股份有限公司董事会 二〇二五年十二月三十日 表决结果：6票同意、0票弃权、0票反对。 在审议该议案时，关联董事陈向东、杨金龙回避了表决。 该议案已经公司第六届董事会独立董事专门会议第五次会议及第六届董事会审计与风险管理委员会第十 一次会议审议通过，同意提交董事会审议。 三、审议通过关于《委托管理际华园公司暨关 ...

Report Investment Rating There is no information about the industry investment rating in the provided content. Core Viewpoints - The 2025 China Financial Stability Report presents a satisfactory outcome. The future prudential management system will continue to play a role. The central bank aims to keep interest rates stable and increase the stock market volume, which reduces the expectation of future interest rate cuts. However, from a macro perspective, a stable low - interest - rate environment remains the most widely accepted option during the phase of government leveraging up, household de - leveraging, and enterprise stable leveraging [3]. - The report positively evaluates the current operation of China's financial industry, and the key tasks of the previous year have achieved phased results. The next - stage focus is on improving the comprehensive macro - prudential management system, with the three key tasks being debt resolution, reform and risk mitigation of small and medium - sized financial institutions, and macro - prudential management of real - estate finance [4]. - Attention should be paid to the risk - resistance ability of the banking industry. Although the capital adequacy ratio seems to have increased, the pressure test results show a steeper decline in capital adequacy ratio and a steeper increase in non - performing loan ratio. The key to future macro - economy is to boost the leveraging willingness of enterprises and households [5]. Section Summaries 1. Evaluation more positive, focus on the construction and coordination of risk - prevention system - The 2025 report positively evaluates the operation of the financial industry, deletes the issue of insufficient demand mentioned in the previous two years, and focuses on the coordinated construction of the risk - prevention system. The three key tasks remain the same, but the macro - prudential management of real - estate finance is placed last [9]. - The high - level is satisfied with the 2024 financial risk - prevention results. The key tasks of the previous year have achieved phased results. The 2025 report's structure is basically the same as that of 2024, with a reduced number of columns and adjusted themes [10]. - The report emphasizes the coordination between risk prevention and other fields, and expands the central bank's macro - prudential and financial stability functions [11]. 2. "Shape can be formed, adjustable", interest rates to be stable - The central bank aims to keep interest rates stable, focusing on implementing existing policies and reducing the expectation of future interest rate cuts. The goal of "liberalization" in interest - rate market reform has been basically achieved, but "shape formation" and "adjustability" still face challenges [13]. - In 2024, the central bank implemented a series of measures to strengthen interest - rate policy implementation. Currently, the pressure on the net interest margin of banks continues to rise, especially for small and medium - sized banks [14]. - Insurance industry reform focuses on reducing liability - side costs, business expenses, and disposing of high - risk institutions. The solvency of the insurance industry is declining [18]. 3. The stock market needs to increase volume - The 2025 report pays more attention to the equity market. The core of market - value management is to guide listed companies to focus on their investment value and increase investor returns. The next - stage work focuses on four areas [21]. - Increasing the stock market volume is beneficial for cultivating a long - bull market environment. The government promotes the entry of long - term funds into the market, and the central bank coordinates macro - policy regulation [24]. 4. Areas that need key attention 4.1 The risk - resistance ability of banks has decreased - In 2024, the capital adequacy, asset quality, risk - compensation ability, and liquidity of commercial banks improved marginally. However, the pressure test results show that the risk - resistance ability of 23 participating banks has declined [26][30]. - Compared with the 2024 report, the 2025 report continues and develops the key points of banking reform, with more specific directions and additional measures [36]. 4.2 The macro - leverage ratios of different sectors are diverging - In 2024, China's macro - leverage ratio increased, but the leverage ratio structure continued to optimize. The government sector became the main leverager, the non - financial enterprise sector's leveraging speed slowed down, and the household sector's leverage ratio decreased slightly [39]. - Historically, the economic recovery requires the cooperation of household and enterprise leveraging. Currently, boosting the leveraging willingness of enterprises and households is crucial for economic recovery [39].

Core Viewpoint - In 2025, the company achieved significant success in market value management and investor relations, with a stock price increase of 88.34% and a total market capitalization reaching 68.525 billion yuan, marking a historical high [1][2]. Group 1: Annual Market Value Management Overview and Goal Achievement - The company's stock price rose from 16.02 yuan at the beginning of the year to 30.60 yuan by year-end, reflecting an increase of 88.34%, significantly outperforming the market and industry indices [2]. - The total market capitalization doubled from 35.093 billion yuan to 68.525 billion yuan, with an annual turnover rate of 284.52% and a trading volume of 117.808 billion yuan, indicating ample market liquidity [2]. Group 2: Value Creation and Growth: Operating Performance and Innovation Achievements - In the first three quarters of 2025, the company reported operating revenue of 43.641 billion yuan (down 0.83% year-on-year) and a net profit attributable to shareholders of 1.263 billion yuan (down 2.6% year-on-year), while the non-recurring net profit increased by 7.23% year-on-year [4]. - The revenue structure showed a 13.82% increase in consumer electronics, a 7.43% decrease in communications, and a 22.72% decline in automotive electronics [4]. - The operating profit margin in Q3 was 4.4% (up 1.1 percentage points year-on-year), with a 22.08% year-on-year increase in non-recurring net profit [5]. Group 3: Value Transmission: Information Disclosure and Investor Relations Management - The company published over 20 important announcements throughout the year, achieving an A rating for information disclosure quality [8]. - The company engaged in over 200 institutional research meetings, covering more than 1200 participants, and maintained efficient communication channels with an average response time of less than 2 working days [9]. Group 4: Value Maintenance: Shareholder Returns and Capital Operations - Cumulative cash dividends since listing reached 5.887 billion yuan, with a dividend payout ratio of 33.82% [10]. - In 2025, the company repurchased shares worth 132 million yuan, completing 87.7% of the minimum repurchase amount [3]. Group 5: ESG and Sustainable Development: Social Responsibility Practices - The company maintained an ESG rating of AA, with a comprehensive score of 8.35, reflecting strong performance in environmental, social, and governance dimensions [12]. - The company reduced greenhouse gas emissions by 22.9% year-on-year and achieved a water resource recovery rate of 23.6% [12]. Group 6: Market Performance Analysis and Benchmark Assessment - The company's stock price increase of 88.34% significantly outperformed the average growth of the electronic manufacturing services industry, which was approximately 35% [17]. - The turnover rate of 284.52% and an average daily trading volume of 323 million yuan indicated a notable increase in market attention [18]. - The top ten institutional investors held 82.77% of shares, reflecting a 0.41 percentage point increase, while the number of shareholders decreased from 56,900 to 41,500 [19].

12月26日，以"新开局、新动能、新征程"为主题的"启航·2025金融峰会"在北京圆满举办，大会由金融界主办，汇聚监管部门、行业协会、金融机构、 上市公司、媒体等数百位相关领导和重磅嘉宾。会上，第十四届金融界"金智奖"年度评选结果重磅揭晓，大悦城荣获"杰出投资者关系（IR）团队奖"。 大悦城定位"卓越的城市运营与美好生活服务商"，持续驱动多业态立体联动，服务城市发展与美好生活。其业务覆盖商业、住宅、产业地产、酒店、 写字楼、长租公寓、物业服务等领域，构建起了业态类型丰富、城市布局完善、资产结构均衡、集人民美好生活场景于一体的"大悦"生态圈。 大悦城IR 团队以科学市值管理为抓手，精准传递企业核心价值与成长潜力。聚焦 "城市运营与美好生活服务商" 定位，团队深度解读商业地产"强运 营"优势、REITs 资产盘活成效以及大悦城资本运作动作等核心亮点，成为同类项目标杆。通过联动品牌资源与公益实践，既展现了实业贡献，又凸显 了长期投资价值。同时，团队严格落实央企市值管理要求，统筹短期业绩与长期发展，有效引导资本向优质资产集聚，构建了企业与资本市场的良性 互动生态。 财经频道更多独家策划、专家专栏，免费查阅>> 责任编 ...

记者获悉，从2025年3月设立至今，上海生物医药产业并购基金已完成三单投资，9个月时间已完成34% 投资额。 新华财经上海12月30日电（记者 王淑娟）2025年以来，A股市场并购交易浪潮涌动，并购基金成为一股 关键力量。作为上海市国资基金矩阵中的重要组成部分，上海生物医药产业并购基金备受关注。记者获 悉，从2025年3月设立至今，上海生物医药产业并购基金已完成三单投资，9个月时间已完成34%投资 额。 自2024年9月证监会发布"并购六条"以来，由地方国资或上市公司作为发起方设立的并购基金渐成趋 势。2025年3月，上海生物医药产业并购基金正式宣告成立，首期规模50亿元，由上实集团旗下上实资 本作为基金管理人。 据刘大伟介绍，上海生物医药产业并购基金有三种投资策略，第一类是控股型收购，要拿到公司的控股 权；第二类是做积极主动型投资，通过少数股权投资极大地影响公司董事会，对公司的治理产生重大影 响，改善投资人对公司治理的信心。提升国资股东入股之后，对国资未来发展的预期；第三类是基于管 线与资产进行重组。 在29日举办的"2025地方国资上市公司并购重组与高质量发展论坛暨第42期国资大讲坛（特别专 场）"上，上 ...

证券日报网讯12月29日，天有为（603202）在互动平台回答投资者提问时表示，2026年公司将继续重视 股东利益，特别是中小股东利益，将进一步深耕主业、强化市值管理，持续推进产品创新和海外市场开 拓，提高公司盈利水平。 ...

证券日报网讯12月29日，国投电力（600886）在互动平台回答投资者提问时表示，公司高度重视市值管 理与股东利益，于2025年4月制定了《市值管理制度》，作为国企始终秉持责任担当。已关注股价波动 情况，将通过夯实经营基本面、优化股东回报、加强投关沟通等合规举措维护市值。 ...

证券日报网讯 12月29日，金杯汽车在互动平台回答投资者提问时表示，公司目前生产经营一切正常； 公司股价持续低迷，与公司基本面背离，公司将持续查找问题症结，进一步加强市值管理。公司市值管 理工作正在依法依规、有序开展。2025年10月，公司董事会批准《金杯汽车市值管理制度》，确定了公 司市值管理工作的制度依据，并逐步投入资源开展工作。公司将常态化开展机构调研活动，增加与机构 投资者交流。公司将持续提升经营效率和盈利能力，同时结合自身实际，探索运用并购重组、股权激 励、现金分红、投资者关系管理、信息披露、股份回购等多种方式促进公司投资价值提升。其他相关事 项若后续达到信息披露标准，公司将及时履行披露义务。 （编辑 丛可心） ...