青岛银行(002948.SZ)维持十几年的大股东座次将发生变动。 日前，青岛银行披露，青岛国信发展(集团)有限责任公司(以下简称"青岛国信集团")拟通过其子公司增持该行股 份，增持后青岛国信集团合计持股数量占青岛银行股份总额的比例预计不超过19.99%。 长江商报记者注意到，一直以来，青岛银行的主要股东方形成海尔集团、外资银行、青岛国资三足鼎立的结构。 而如果本次增持顺利实施完成，青岛国资将超过海尔集团，成为青岛银行第一大股东。 对青岛银行股票长期投资价值的认可，是青岛国资实施本次增持的主要原因。截至2025年3月末，青岛银行资产总 额首次超过7000亿元，达到7131.53亿元，较上年末增长3.36%。 随着规模扩张及结构调整，2025年一季度，青岛银行实现营业收入40.47亿元，同比增长9.69%；归属于该行股东 的净利润(净利润，下同)12.58亿元，同比增长16.42%。其中，该行利息净收入26.50亿元，同比增加2.83亿元，增 幅达到11.97%。 资料显示，青岛银行成立于1996年11月，由原21家城市信用社的全部原有股东以及以发起人身份加入的青岛市财 政局等新股东共同发起设立。 2015年12 ...

Group 1 - The National New Office will hold a press conference to introduce the national economic operation situation for May 2025 [1] - The National Bureau of Statistics will release the housing price data for 70 large and medium-sized cities for May 2025 [2] - The Shanghai Stock Exchange and China Securities Index Co., Ltd. will announce the launch of the SSE 580 Index, which reflects the overall performance of small-cap listed companies [3] Group 2 - A total of 12 companies will have their restricted shares unlocked today, with a total unlock volume of 1.399 billion shares, amounting to a market value of 11.203 billion yuan [4] - Five companies have disclosed stock repurchase progress, with two companies reporting the highest repurchase amounts [5]

Core Viewpoint - Xingfa Group has experienced significant growth since its listing in 1999, with its market value increasing from 1.824 billion to 23.687 billion, reflecting deep industry chain layout despite noticeable performance fluctuations in recent years [1][3]. Business Overview - Xingfa Group's main business includes the mining and sales of phosphate rock, production and sales of phosphate, phosphate fertilizers, glyphosate, and organic silicon. The core products are mainly special chemicals and pesticides, with special chemicals accounting for 18.59% and pesticides for 18.33% of revenue [3]. Financial Performance - Since its listing, Xingfa Group has achieved a cumulative profit growth of 5982.55%, with net profit increasing from 0.026 billion in 1999 to 1.601 billion in 2024. The company has not reported a loss in any year, with 19 years of profit growth, representing 73.08% of the time [3]. - Revenue analysis shows that Xingfa Group's revenue grew from 18.39 billion in 2020 to 28.396 billion in 2024, with a pattern of initial growth followed by a decline and then recovery. The company experienced high growth in 2021 and 2022, a decline in 2023, and stability in 2024 [3]. - Profit analysis indicates that net profit rose from 0.618 billion in 2020 to 1.601 billion in 2024, with significant fluctuations, including a 582.05% increase in 2021 and a 76.44% decrease in 2023, followed by a return to growth in 2024 [3]. Market Capitalization - Since its listing, Xingfa Group's market value has increased by 11.99 times, demonstrating strong growth potential. The peak market value reached 65.321 billion on September 23, 2021, with a corresponding stock price of 58.38. As of June 13, the market value was 23.687 billion, reflecting a decrease of 41.634 billion, or 63.74%, from its peak [5].

Group 1: Xibu Mining - The company has hedged about 50% of its external raw material purchases [1] - Major shareholder's quality assets have been injected into the listed company [1] - Annual capital expenditure is approximately 3 billion, with the Yulong Copper Phase III construction capital expenditure around 5 billion [1] - The company has not yet initiated share buybacks or equity incentive plans [1] - Strategic goals include strengthening the mining main business and refining the smelting industry, while actively expanding resource reserves and improving process levels [1] - The Yulong Copper Mine is a porphyry copper mine with good exploration potential in the deep edge [1] - The major shareholder's holding decisions are based on confidence in long-term development prospects and market environment considerations [1] Group 2: Salt Lake Co. - The company has established a potash fertilizer production capacity system of 5 million tons per year, with subsidiaries responsible for 4 million tons and 1 million tons respectively [2] - Potash fertilizer market demand is expected to remain stable with an upward trend, and international potash prices have significantly increased [2] - Chinese enterprises are accelerating overseas potash fertilizer industry layout to ensure long-term stable supply [2] - The company has mastered full-category potassium chloride processing technology, with core production lines for potassium chloride and lithium carbonate capacity being released [2] - A new 40,000 tons per year lithium salt integrated project is progressing, utilizing advanced technology to increase lithium recovery by 25%, reduce freshwater consumption by 47.4%, and decrease overall energy consumption by 50.6% [2] - The company is exploring diversified shareholder return methods to ensure continuity and stability in profit distribution policies [2] - Through refined management, optimized channels, and reduced labor costs, the company is further lowering production costs [2] - China Minmetals is assisting the company in achieving central enterprise status and enhancing core competitiveness [2] - The company is closely aligning with China's salt lake "three-step" development strategy to build a globally influential salt lake industry cluster [2] Group 3: Zhongji Renjian - The company is implementing an intelligent emergency equipment testing industrial park project in Yanqing District, Beijing, with an investment not exceeding 581.19 million [3] - The company emphasizes market value management by enhancing operational efficiency, profitability, and core competitiveness [3] - The workforce consists of 690 employees, with 65.94% in technical positions and 86.52% holding a bachelor's degree or higher [3] - The company plans strategic investments in fields such as new energy vehicle certification testing and is expanding in regions like the Greater Bay Area, Chengdu-Chongqing Economic Circle, and southeastern Henan [3] Group 4: Asset Management Overview - Shangyin Fund, established in 2013, has an asset management scale of 226.466 billion, ranking 33rd out of 210 [3] - The scale of non-monetary public funds is 166.735 billion, ranking 30th out of 210 [3] - The fund manages 102 public funds, ranking 69th out of 210, with 20 fund managers, ranking 67th out of 210 [3] - The best-performing public fund product in the past year is Shangyin Medical Health Mixed A, with a latest net value of 0.75 and a growth of 24.87% in the past year [3] - The latest public fund product raised is Shangyin National Certificate Free Cash Flow Index A, which is an index-type stock fund, with a subscription period from June 4, 2025, to June 24, 2025 [3]

文 | 银行螺丝钉 （转载请注明出处） 有朋友问， 指数调仓是什么，调仓的频率是啥样的？ 指数调仓，会追涨杀跌，变成接盘侠吗？我们该如何应对？ 针对大家的这些疑问，螺丝钉也通过直播课，进行了讲解。 长按识别下面二维码，添加 @课程小助手 微信，回复「 0613 」即可观看直播回放。 （提示：回复后可以耐心等待几秒哦～） 指数调仓 指数调仓是指，按照指数的编制规则，重新调整成分股。 也就是说： 指数调仓过程，类似于新陈代谢。 剔除不符合规则的股票，加入新的成分股，确保指数的活力。 指数调仓，主要分为以下两类： · 调入符合指数规则的股票； · 调出不符合指数规则的股票。 （1）临时调仓 在有特殊事件发生，以致影响指数的代表性和可投资性时，指数公司将对指数样本做出必要的临时调整。 指数的临时调仓通常比较少见。 （2）定期调仓 依据样本稳定性和动态跟踪相结合的原则，每隔一段时间，对指数的样本股进行审核，并根据审核结果调整指数的样本股。 以沪深300指数为例，挑选的是沪深两市中，规模最大、流动性最好的300只股票。 但是股票涨涨跌跌，一些股票规模小了，达不到前300名的要求，也会有一些股票规模大了，新进入到前300名 ...

方大特钢（600507）6月9日晚间发布公告，2025年3月20日至2025年6月9日期间，公司控股股东江西方 大钢铁集团有限公司通过上海证券交易所交易系统以集中竞价交易方式，用自有资金和专项贷款增持公 司股份2260.18万股，占公司总股本的0.98%。本次增持后江西方大钢铁集团持有方大特钢股份7.49亿 股，占公司总股本的32.40%。 公开信息显示，方大特钢2024年以来也在持续开展股份回购计划，自2024年7月10日首次回购公司股份 以来，截至2025年6月9日，方大特钢已累计回购股份5005.27万股，支付金额2.03亿元，通过真金白银的 市场化操作有效提振投资者信心，维护中小股东权益。 2025年2月，方大特钢发布关于控股股东增持公司股份计划暨取得金融机构贷款承诺函的公告，公司控 股股东江西方大钢铁集团基于对公司未来发展的信心和对公司价值的认可，增强投资者信心，维护投资 者利益，促进公司持续、稳定、健康发展，计划增持公司股份，增持金额不少于5500万元，不超过1.10 亿元。控股股东增持股份通常被视为对公司长期投资价值的认可，向市场释放未来发展信心，有利于维 护上市公司价值。根据公告，本次增持方大 ...

证券研究报告 | 行业周报 gszqdatemark 2025 06 15 年 月 日 当前为何要重视建筑央企港股投资机会？ 央企港股估值极低，A/H 价差大，股息率具备较强吸引力 。截至 2024/6/13，中国中铁、中国铁建、中国交通建设的 H 股 PE（ TTM）均小 于 4 倍；中国中铁、中国铁建、中国交通建设、中国中冶、中国能源建设 PB（ MRQ）均小于 0.4 倍，建筑央企港股估值处于极低位置。从 A 股与 H 股的价差看，两地上市的中国中铁、中国铁建、中国交通建设、中国中冶、 中国能源建设 5 家公司 A/H 价差平均为 86% 所有两地上市公司 A/H 价 差平均为 73%），其中中国中冶、中国能源建设 A/H 价差超过 100%。从 股息率看，我们统计的 7 家建筑央企 见表 1）H 股的平均股息率 TTM） 为 5.16%，其中中国中铁、中国铁建、中国交通建设、中石化炼化工程 H 股股息率 TTM）均高于 5%，具备较强吸引力。 对保险等长周期资金来说，建筑央企港股配置性价比凸显。监管政策积极 引导中长期资金入市，证监会等六部委印发《关于推动中长期资金入市工 作的实施方案》，预计增量中长 ...

点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 本周全市场股票池中，盈利因子获取正收益0.54%；残差波动率因子和beta因子分别获取正收益0.28%、 0.23%；非线性市值因子和市值因子分别获取负收益-0.32%、-0.22%，市场表现为小市值风格；其余风格 因子表现一般。 单因子表现： 沪深300股票池中，本周表现较好的因子有市盈率因子 (2.85%)、市盈率TTM倒数 (2.32%)、经营现金流比 率(1.33%)。表现较差的因子有5分钟收益率偏度(-1.53%)、毛利率TTM (-1.03%)、5日反转 (-0.78%)。 中证500股票池中，本周表现较好的因子有ROIC增强因子(1.46%)、营业利润率TTM (1.10%)、单季度营业 收入同比增长率 (1.04%)。表 ...

在小短文、小视频中动不动就出现的年薪百万、千万身家，在实际中常见吗？ 我做投资的一个习惯，是多翻各种统计数据、财务数据、原始资料，少听网上那些乱七八糟的小故事。 | | 持股总市值(亿元) Hold Value (100M Yuan) | 占比(%) Ratio (%) | 持股账户数(万户) Hold Account | 占比(%) Ratio (%) | | --- | --- | --- | --- | --- | | | | | ( 10 Thousand ) | | | 自然人投资者 | 107371 | 23. 19 | 4549. 32 | 99. 71 | | 其中:10 万元以下 | 3421 | 0. 74 | 2269. 14 | 49. 74 | | 10~50 万元 | 11325 | 2. 45 | 1373. 06 | 30. 10 | | 50~100万元 | 9380 | 2. 03 | 423. 79 | 9.29 | | 100~300 万元 | 16202 | 3.50 | 338. 56 | 7.42 | | 300~1000 万元 | 14690 | 3. 17 | ...

Core Viewpoint - Hubei Energy's stock price has slightly decreased, and the company is facing challenges in hydropower generation due to lower water levels, impacting its overall performance and future projections [1][3][6]. Stock Performance - As of June 13, 2025, Hubei Energy's stock closed at 4.64 yuan, down 0.22% from the previous week [1]. - The company's total market capitalization is 30.159 billion yuan, ranking 21st in the power sector and 483rd among all A-shares [1]. Shareholder Changes - As of May 30, 2025, the number of shareholders increased to 81,233, a rise of 3,715 or 4.79% since March 31, 2025 [2][6]. - The average number of shares held per shareholder decreased from 83,900 to 80,000, with an average holding value of 372,100 yuan [2]. Hydropower Generation Insights - The water level of the company's water reservoir, Wubuya, is approximately 9 meters higher than the same period last year [3][4]. - Hydropower generation from January to May 2025 has decreased by nearly 50%, and this trend is expected to continue throughout the year due to forecasts of lower water availability [3][6]. Dividend Information - The equity registration date for the 2024 dividend distribution is set for June 19, 2025, with a cash dividend of 1.00 yuan per 10 shares [4][9]. - The total share capital will be adjusted to 6,499,723,456 shares following the cancellation of 729,068 restricted shares [9]. Corporate Governance and Strategy - The company emphasizes value creation in its market management strategy, focusing on enhancing core competitiveness and improving communication with investors [4][6]. - Hubei Energy holds a 40% stake in Hubei Nuclear Power, indicating its involvement in diverse energy sectors [4]. Recent Corporate Actions - The company is in the process of advancing its stock issuance to specific investors, with updates to be disclosed as per information disclosure requirements [5]. - A recent announcement confirmed the completion of the buyback and cancellation of restricted shares held by certain individuals due to changes in their employment status [8].