天津发展(00882)发布公告，于2025年3月31日至2025年6月11日期间，力生制药（002393）(本公司间接 非全资附属公司)已订立以下兴业银行理财协议，以本金总额人民币1.85亿元(相当于约港币2.01亿元)认 购若干投资产品。 于2025年3月31日，力生制药与兴业银行订立第一份兴业银行理财协议，以本金金额人民币2000万元(相 当于约港币2173.91万元)认购结构性存款;于2025年5月7日，力生制药与兴银理财及兴业银行订立第二份 兴业银行理财协议，以本金金额人民币1000万元(相当于约港币1086.96万元)认购固定收益投资产品;于 2025年5月7日，力生制药与兴业银行订立第三份兴业银行理财协议，以本金金额人民币1000万元(相当 于约港币1086.96万元)认购结构性存款;于2025年5月7日，力生制药与兴业银行订立第四份兴业银行理财 协议，以本金金额人民币1000万元(相当于约港币1086.96万元)认购结构性存款;于2025年5月29日，力生 制药与兴业银行订立第五份兴业银行理财协议，以本金金额人民币3500万元(相当于约港币3804.35万元) 认购结构性存款;于2025年6月1 ...

Group 1 - Over 60% of actively managed equity funds have recovered their net value to levels seen two months ago, with a strong performance from funds focused on innovative pharmaceuticals and AI sectors [1] - The upcoming mid-year assessment is prompting wealth management companies to optimize asset allocation strategies, including shortening bond durations to control volatility [1] - The Hong Kong IPO market is heating up, with 190 companies queued for listing, many of which are from mainland China, indicating a trend of A+H listings [2] Group 2 - The domestic robotics industry is experiencing a surge in IPO activity in Hong Kong, with nine companies disclosing plans to list, reflecting strong investor interest in hard technology [2] - Midea Group has initiated a voluntary recall of over one million window air conditioners in North America due to a rare issue with mold on a specific component, with a complaint rate of less than 0.01% [3] - Several major automotive companies have committed to a unified payment term of no more than 60 days, indicating a shift in industry payment practices [3] Group 3 - The launch of the world's first AI-based fully automated design system for processor chips marks a significant advancement in chip design, addressing the growing demand for specialized chips [4] - The successful listing of a leading company in the panoramic camera sector has attracted significant attention from capital markets, with the global market for panoramic cameras expected to grow at a CAGR of over 10% [4] - The summer grain wheat harvest in China has progressed to over 70%, with significant contributions from major wheat-producing provinces [5] Group 4 - OpenAI is investigating increased error rates affecting its API and ChatGPT services, with over 1,000 service interruption reports logged [5] - Haitian Flavor Industry plans to issue 263.24 million shares in its Hong Kong listing, with a price range set between HKD 35 and HKD 36.3 [6] - A food safety incident involving excessive bacterial counts at a specific store has led to regulatory actions against the establishment [7] Group 5 - The financial regulatory authority has imposed strict penalties on two insurance companies, marking a shift towards individual accountability in the insurance sector [8] - Tencent Music has signed an acquisition agreement with Himalaya, with assurances that the brand and management structure will remain unchanged post-acquisition [9] - A significant personnel change has occurred at Yanghe Co., with a board member resigning due to work relocation [10]

监管部门对理财产品估值整改的要求正在推动行业发生深刻变化。自去年12月相关规定下发以来，理财公司需在今年6月底前完成一半整改任务，年底前全 面完成。面对即将到来的年中考核节点，多家机构已基本达成阶段性目标，但整改进程呈现明显的差异化特征。 整改工作稳步推进但进展不一 各家理财公司在估值整改方面表现出不同的节奏和进度。部分华南地区的股份行理财公司早在去年底就已全面完成相关整改工作，当前业务运营几乎未受影 响。这些机构提前布局，避免了后续调整带来的压力。 华东地区的理财子公司则采取了更为审慎的策略。为应对监管要求的严格化，这些机构主动缩短债券投资久期，在信用债配置上表现得更加谨慎。华北地区 的城商行理财子公司普遍认为按时完成整改任务难度不大，涉及的业务和产品数量相对有限。 净值波动加大促使策略调整 估值整改工作的深入推进将不可避免地增加理财产品的净值波动幅度。这种变化正在倒逼理财公司重新审视和调整资产配置策略。缩短债券久期成为多数机 构的共同选择，通过降低久期风险来控制产品净值的波动程度。 理财公司还通过审慎控制杠杆水平、精选投资标的等方式来减小净值波动。多资产、多策略产品因此迎来发展机遇期。债券资产收益率下行且 ...

Core Viewpoint - The regulatory requirements for the valuation of wealth management products are being implemented steadily, with many institutions reporting that they have completed about half of the necessary adjustments by the end of June [1][2]. Group 1: Valuation Rectification Progress - Regulatory authorities have mandated that wealth management companies rectify their valuation methods by the end of June, focusing primarily on closing price valuations [1][2]. - The rectification involves prohibiting the use of closing prices, smoothing valuations, and self-built valuation models, requiring companies to adopt valuations provided by recognized financial institutions [1][2][3]. - The main focus of the rectification is on closing price valuations, which have been used to smooth daily net value fluctuations of products, particularly for illiquid assets [3][4]. Group 2: Impact on Asset Allocation - As the rectification progresses, net value fluctuations of wealth management products are expected to increase, prompting companies to adjust their asset allocation strategies [3][5]. - Companies are likely to shorten bond durations, adjust leverage, and select investment targets more carefully to mitigate overall portfolio volatility [5][6]. - The demand for multi-asset and multi-strategy products is anticipated to rise as companies adapt to the changing landscape [6][7]. Group 3: Enhancing Research and Investment Capabilities - Despite the increased volatility in net values, wealth management products still possess a diversified asset allocation advantage compared to public funds [6][7]. - Companies are focusing on improving their research and investment capabilities to maintain competitiveness in a net value-driven market [6][7]. - The ability to innovate and manage risks effectively is becoming a crucial competitive edge for wealth management firms, with leading institutions likely to capture a larger market share [6][7].

文 | 银行螺丝钉 （转载请注明出处） 高考结束了。 有朋友问螺丝钉，当年高考后是怎么选择的呢？ 有什么想对准大学生们说的？ 我们的人生中，有几次非常重大的决策，是可以改变我们一生的。 例如高考、上大学、结婚等等。 选择大城市 回想起高中，螺丝钉高中是在老家读的。 标准的小镇，每年考上重点大学的也没有太多。 高中的时候，每天5:30起床，去学校上早自习。 晚上9点多到家，看会书睡觉。 高考考完之后，考的分数还可以，可以报省内省外的重点大学。 按照「先城市，后大学」的思路，觉得北京机会多，最后 来北京读大学。 在北上广深这样的大城市打拼，对人的认知会有很大的影响。 大城市里各种机会也更多，有很多机会和行业，也是在大城市里才有。 举个例子，比如说公募基金这个行业，基金公司基本都是在北上广深。 相关的从业人才、就业机会，也是在大城市才容易找到。 另外从发展的角度，「人口净流入、人均收入增长快」的城市，对年轻人的发展更有利。 很多人觉得，大城市人多、竞争大。 实际上，按照分工理论，城市人口越多，合作分工高度精细。 而分工精细，很多时候是可以更高效创造更多价值的。 人口数量越多的城市，人均收入增长速度也会更快。 所以， ...

深圳市华宝新能源股份有限公司 第一章 总则 第一条 为规范深圳市华宝新能源股份有限公司（以下简称"公司"）委托 理财产品交易行为，有效控制投资风险，保证公司资产、财产的安全，提高投资 收益，维护公司及股东合法权益，根据《中华人民共和国公司法》等有关法律法 规和规范性文件及公司章程的规定，结合公司实际情况，制定本制度。 第二章 基本定义及规定 第二条 本制度所称"委托理财"是指在国家政策允许的情况下，公司（含 全资子公司及控股子公司）在控制投资风险的前提下，以提高资金使用效率、增 加现金资产收益为原则，委托商业银行、信托公司、证券公司、资产管理公司等 金融机构进行投资的行为，包括购买或投资银行理财产品、信托产品、债券、资 产管理计划及根据公司内部决策程序批准的其他理财对象和理财产品等。 第三条 本制度适用于公司、全资子公司及控股子公司。 第四条 委托理财原则 （一）委托理财的资金为公司闲置自有资金、闲置募集资金（含超募资金， 仅可用于现金管理的委托理财），不得挤占公司正常运营和项目建设资金，不得 影响募集资金项目使用进度； （二）委托理财应当以公司名义设立理财产品账户，不得使用个人账户进行 操作； （三）使用暂 ...

编者按：《机警理财日报》作为南财集团、21世纪经济报道、南财理财通的金牌理财专栏，目前细分了 现金、纯固收、固收+期权、固收+权益、混合、权益、衍生品七大类，已实现对银行理财市场的每日 追踪。为了进一步反映银行理财行业发展现状，南财理财通课题组增设机警理财周报专题，力求及时准 确研判理财行业趋势、洞悉理财产品表现，以期为银行理财行业转型发展带来参考价值。 【市场回顾】 债市方面，资金面整体均衡偏松，债市收益率曲线走陡。6月6日DR007加权均价为1.53%；10年期国债 收益率收至1.65%。股市方面，上周港股涨势较好，恒生科技和恒生指数周涨幅分别为2.25%和2.16%； A股主要股指收涨，上证指数、深证成指和沪深300指数周涨幅分别为1.13%、1.42%和0.88%。板块方 面，通信、有色金属、电子板块周涨幅居前。 【破净情况】 破净理财产品数量变化不大。南财理财通数据显示，截至2025年6月8日，理财公司共有23,846只存续公 募理财产品，其中167只累计净值低于1，银行理财综合破净率为0.7%。各投资类别理财产品破净率较 此前一周变化不大，权益类、混合类理财破净率分别为53.85%和6.76%；固 ...

证券代码：603722 证券简称：阿科力 公告编号：2025-037 无锡阿科力科技股份有限公司 关于使用闲置自有资金及募集资金进行委托理财的 进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 重要内容提示： ●委托理财受托方：中国光大银行无锡分行 ●委托理财金额：人民币 5,000.00 万元、人民币 4,000.00 万元 ●委托理财产品名称：2025 年挂钩汇率对公结构性存款定制第六期产品 89、 ●委托理财期限： 90 天、90 天 ●履行的审议程序：无锡阿科力科技股份有限公司第四届董事会第十四次会 议、第四届监事会第十四次会议、2024 年第二次临时股东大会审议通过了《关 于使用闲置自有资金进行委托理财的议案》，同意公司对最高额度不超过 20,000 万元的闲置自有资金进行委托理财，在确保不影响公司日常运营的情况下在股东 大会审议通过之日起 12 个月内滚动使用，并授权公司总经理在上述额度内组织 实施。具体内容详见公司于 2024 年 10 月 26 日在《上海证券报》、《证券时报》、 ...

Group 1 - The company Chengdu Kanghong Pharmaceutical Group Co., Ltd. has approved the use of idle funds to purchase financial products up to RMB 3.8 billion, focusing on high safety and liquidity products issued by commercial banks [1] - The investment decision will be executed by the company's president or financial officer, with the finance department responsible for the specific purchases [1] - The company has previously invested a total of RMB 2.245 billion in bank principal-protected financial products over the past twelve months, which is within the authorized investment limits [11] Group 2 - The company’s subsidiaries, Chengdu Kanghong Biotechnology Co., Ltd. and Sichuan Kanghong Pharmaceutical Trading Co., Ltd., have utilized their own funds to purchase financial products [2] - The financial products purchased include structured deposits from China Bank and Chengdu Bank, with specific details on expected returns and conditions outlined [4][7] - The expected annualized return for some products is between 0.79% and 3.17%, depending on market conditions and performance indicators [2][3]

General Overview - The company establishes a system to regulate major investment activities, ensuring scientific, standardized, and transparent decision-making to safeguard funds and assets, prevent investment risks, and protect the interests of the company and its shareholders [1][2]. Investment Definition - Investment refers to the economic behavior of allocating sufficient funds or equivalent assets to certain fields to obtain returns or capital appreciation in the foreseeable future, including both internal and external investments [1]. Approval Authority - Major investment projects require approval from the company's chairman, board of directors, and shareholders' meeting according to their respective authorities, with a strict review and decision-making process [2][3]. - Specific investment matters reaching certain thresholds must be submitted for board review, including those exceeding 10% of audited annual revenue or net profit [2][3]. Decision-Making Process - Investment project proposals must be submitted in writing by shareholders, directors, senior management, and relevant departments, including key financial indicators and project advantages [5]. - The investment management department is responsible for summarizing and reviewing project proposals, conducting due diligence, and preparing feasibility reports for board submission [5][6]. Securities Investment and Derivative Trading - Securities investment includes various activities such as new stock subscriptions, stock repurchases, and bond investments, while derivatives refer to financial instruments like futures and options [6][7]. - The company must manage funds prudently and focus on its main business, avoiding speculative derivative trading [6][7]. Risk Management - The board should continuously monitor the execution and safety of securities investments and derivatives, taking immediate action in case of significant losses [7][9]. - A feasibility analysis report is required for derivative trading, and independent directors must provide special opinions on such transactions [8][9]. Investment Recovery and Exit - The company can recover external investments under specific circumstances, such as significant deviations from business direction or continuous losses [13][15]. - The financial department is responsible for asset evaluation during investment recovery and transfer processes [13]. Responsibilities of Management - Company directors and management must exercise caution and strictly control investment risks, bearing responsibility for any violations or improper investment actions [38][39]. - The audit committee has the authority to supervise and inspect the company's investment activities [32][33].