上半年，各地区各部门深入贯彻落实党中央、国务院决策部署，统筹用好中央预算内投资、超长期特别 国债、地方政府专项债等政策工具，加快推进"两重"建设和"两新"工作，聚焦关键领域和薄弱环节积极 扩大有效投资，推动固定资产投资平稳增长。上半年，全国固定资产投资（不含农户)248654亿元，同 比增长2.8%；扣除价格因素影响，同比增长5.3%。 一、"两新"政策持续显效，设备购置投资较快增长 "两新"工作加力扩围实施，政策效果持续显现，设备购置投资快速增长。上半年，设备工器具购置投资 同比增长17.3%，增速比全部投资高14.5个百分点,对全部投资增长的贡献率为86.0%。 二、"两重"建设加快推进，基础设施投资支撑有力 五、项目投资较快增长，民间项目投资平稳增长 三、现代化产业体系建设加速，制造业投资较快增长 制造业高端化智能化绿色化发展加快，传统产业转型升级稳步推进，制造业投资较快增长。上半年，制 造业投资同比增长7.5%，增速比全部投资高4.7个百分点,拉动全部投资增长1.8个百分点。其中，消费品 制造业投资增长12.3%，装备制造业投资增长6.3%，原材料制造业投资下降0.1%。高技术制造业投资 中，航空、航 ...

Core Viewpoint - The announcement of a significant restructuring involving Zhejiang Fuda Alloy Materials Technology Co., Ltd. (Fuda Alloy) has led to a volatile stock performance, with the stock experiencing a near limit-down followed by a limit-up closing the next day [1][4]. Group 1: Acquisition Details - Fuda Alloy plans to acquire at least 51% of Zhejiang Guangda Electronic Technology Co., Ltd. (Guangda Electronics) for cash, which is expected to constitute a major asset restructuring [1][2]. - The transaction is characterized as a related party transaction due to the familial relationship between the actual controllers of both companies, Wang Dawu and Wang Zhongnan [2][3]. - Guangda Electronics specializes in electronic paste products for the photovoltaic industry and has established long-term partnerships with notable firms such as Tongwei Co., Ltd. and JA Solar Technology Co., Ltd. [3]. Group 2: Financial Implications - Fuda Alloy's main products include contact materials, layered contacts, and contact components, with projected revenue shares of 58.06%, 23.12%, and 15.19% respectively for 2024 [2]. - The acquisition will allow Fuda Alloy to expand its product offerings to include conductive silver paste, enhancing its position in the electrical metal materials industry [3]. - The silver paste is a critical component in photovoltaic cells, accounting for 27% of the non-silicon costs of solar cells, with silver making up 97% of the silver paste costs [3]. Group 3: Market Reaction - Following the acquisition announcement, Fuda Alloy's stock initially dropped by 7.38% but later surged to a limit-up, closing with a 10.01% increase, reflecting a market capitalization of approximately 26.36 billion [4]. - The stock's volatility is attributed to factors such as revenue growth, active financing, and strategic shifts into emerging sectors like renewable energy [4]. Group 4: Industry Context - The acquisition aligns with a broader trend in the photovoltaic industry, where mergers and acquisitions in the auxiliary materials sector have become increasingly active in 2023 [5]. - Previous attempts at major asset restructuring by Fuda Alloy, including a failed acquisition of Sanmenxia Aluminum, highlight the complexities and risks associated with such transactions [5].

Core Viewpoint - The article discusses the implementation of the "Interim Measures for the Supervision and Administration of Local Asset Management Companies" by the Financial Regulatory Bureau, aimed at standardizing the operations of local asset management companies (AMCs) and enhancing their focus on core responsibilities while effectively serving local needs [1][2]. Regulatory Framework - The new measures are a significant step in establishing a unified regulatory framework for local AMCs, addressing previous issues of fragmented management and regulatory oversight [3][4]. - The provincial financial management institutions are designated as the primary supervisory bodies for local AMCs, ensuring accountability and coordination with the Financial Regulatory Bureau [4]. Business Scope and Restrictions - The measures delineate the business scope for local AMCs, allowing them to engage in the acquisition, management, and disposal of non-performing assets, while prohibiting activities outside this scope [7][8]. - Five key operational restrictions are established, including prohibitions against guaranteeing principal and fixed returns, facilitating false reporting for financial institutions, and engaging in illegal debt recovery practices [9][10]. Risk Management Requirements - The measures introduce specific risk management requirements, including limits on concentration risk, liquidity risk, and related party transactions [11][12][14]. - Local AMCs are required to maintain a minimum level of high-quality liquid assets to cover net cash outflows for the next 30 days [13]. Industry Outlook - The importance of local AMCs is highlighted, with projections indicating that the scale of non-performing asset management will reach RMB 16,877 billion by 2029, with a compound annual growth rate of 14.8% from 2024 to 2029 [6].

尽管一些竞争对手对加密货币敬而远之，但渣打银行首席执行官比尔·温特斯在7月15日表示，数字资产 正在成为世界金融体系的"基础"组成部分。"随着客户需求的进一步增长，我们希望为客户提供一种在 满足监管要求的情况下安全高效地进行数字资产交易和管理风险的途径。" 渣打银行表示，它是首家提供现货加密货币交易服务的全球系统重要性银行，允许企业和机构客户买卖 比特币和以太币。 ...

美联储柯林斯：强劲的企业和家庭资产负债表可能减缓关税带来的冲击。 ...

近期以银行股为代表的红利资产大幅上涨，相关基金的净值最高涨幅接近45%。据统计，公募基金扎堆 布局红利资产，年内成立的相关基金数量接近40只，7月以来又有新型产品上报。业内人士认为，长线 资金入市提振了市场对红利资产的配置需求，未来增量资金可期，但也需警惕短期交易拥挤的风险。 (上海证券报) ...

Group 1 - The Chinese capital market is experiencing a new pattern of deep interaction with foreign institutions, enhancing the convenience for global investors to participate in China's innovative development opportunities [1] - International capital's enthusiasm for allocating assets in China is increasing, with many foreign institutions expressing optimism about the Chinese market's prospects [1][2] - A significant shift has occurred in the priorities of sovereign wealth funds, with 59% of respondents identifying China as a high or medium priority market, indicating a separate allocation to China from broader emerging markets [2] Group 2 - The quality of listed companies in China is improving, providing a solid foundation for foreign institutions' interest, with 60% of companies reporting positive revenue growth in 2024 [3] - Foreign institutions are increasingly focusing on technology innovation, with digital technology and software being the most attractive investment areas, followed by advanced manufacturing and clean energy [5] - The bond market is also attracting international capital, with expectations that capital may flow from the US financial markets to other fixed-income markets, benefiting European, Japanese, and Chinese bonds [5] Group 3 - Foreign institutions are accelerating their investment in the Chinese market, with over 30 new funds launched by firms such as Morgan Asset Management and Fidelity [6] - Several foreign institutions are demonstrating long-term commitment to the Chinese market through capital increases, such as Morgan Stanley Fund's registered capital rising from 600 million to 950 million yuan, a growth of over 58% [6]

Group 1 - The bank wealth management market continued to operate steadily in Q2 2025, with a total of 7,941 new wealth management products launched, an increase of 332 products from the previous quarter [1] - Among the new products, 1,939 were open-ended with an average performance benchmark of 2.08%, while 6,002 were closed-ended with an average benchmark of 2.57% [1] - Wealth management companies launched 5,658 new products in Q2 2025, reflecting a quarter-on-quarter increase of 286 products, indicating ongoing expansion in product issuance [1] Group 2 - Short-term yields have generally risen due to a temporary strengthening of the bond market, while medium to long-term yields have continued to decline, primarily due to a systematic decrease in the yield of newly allocated assets [2] - The cash management product yields have continued to decline, with a recent seven-day annualized yield drop of 0.13 percentage points, attributed to falling interbank certificate of deposit rates and an influx of risk-averse funds [2] - In the context of declining deposit rates, bank wealth management has become an important alternative for investors seeking to replace deposits [2] Group 3 - There is a strong demand from investors for low-risk, higher-yield wealth management products, prompting companies to innovate and optimize product design [3] - Companies are encouraged to deepen the "fixed income +" strategy, using relatively low-risk fixed income assets as a base while appropriately allocating equity and other assets to enhance returns [3] - Innovations in the issuance and dividend mechanisms of long-term closed-end products are also recommended, including the introduction of monthly or quarterly dividend products to enhance the long-term holding experience for investors [3]

证券代码：603268 证券简称：*ST松发 公告编号：2025临-067 广东松发陶瓷股份有限公司 股票交易异常波动公告 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。 重要内容提示： ● 广东松发陶瓷股份有限公司（以下简称"公司"）股票于 2025 年 7 月 11 日、7 月 14 日、7 月 15 日连续 3 个交易日收盘价格涨幅偏离值累计超过 12%， 根据《上海证券交易所交易规则》的相关规定，属于股票交易异常波动情形。 ● 经公司自查并向控股股东、实际控制人书面征询确认，截至本公告披露 日，除公司已披露事项外，不存在应当披露而未披露的重大信息。 ● 公司已实施重大资产重组，本次重组相关标的的交割事宜于 2025 年 5 月办理完毕，公司主营业务发生重大变化，由陶瓷制造业务变更为船舶及高端装 备的研发、生产和销售。 一、股票交易异常波动的具体情况 公司股票于 2025 年 7 月 11 日、7 月 14 日、7 月 15 日连续 3 个交易日收盘 价格涨幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的相关规 ...

证券代码：002058 证券简称：*ST威尔 公告编号：2025-038 上海威尔泰工业自动化股份有限公司 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 公司本次第九届监事会第六次（临时）会议审议的全部议案均涉及公司本次 重大资产购买暨关联交易，故关联监事孙宜周及刘罕需回避表决。关联监事回避 表决后，因非关联监事仅有一位，未达到监事会总人数的半数以上，故本次监事 会未能形成任何决议，相关审议议案均将直接提呈股东大会审议。会议具体情况 如下： 上海威尔泰工业自动化股份有限公司（以下简称"公司"）第九届监事会第 六次（临时）会议于2025年7月11日以电子邮件方式向公司监事发出会议通知， 并于2025年7月15日以现场会议方式召开。本次监事会由孙宜周先生召集和主持。 公司共有3名监事，全体3名监事出席了本次会议。本次会议的召集召开、表决等 事项符合《中华人民共和国公司法》及《公司章程》的有关规定。会议审议了如 下议案： 《关于上海威尔泰工业自动化股份有限公司重大资产购买暨关联交易方案的 议案》 公司拟通过支付现金方式向上海紫江新材料科技股份有限公司（ ...