中经记者 吴静 卢志坤 北京报道 在新经济形势之下，高效利用存量不动产成为国有企业提升资产效益重要且必要的手段。 过去，国企管理资产往往局限于出租和基础物业管理。然而，面对当前写字楼市场严峻的竞争环境，如 何抓住有限的新增租户需求，提升项目自身价值，关键在于实现"三管合一"——即运营管理、资产管理 和物业管理的深度融合。 金廉政指出，物业管理是基础，运营管理和资产管理则侧重于项目的精细化经营，思考如何在基础服务 之外，从项目运营和增值角度提供更优的管理模式。 金廉政强调，当前企业普遍面临资金压力，监管层也通过政策（如基础设施REITs）为企业提供资产盘 活渠道和工具。同时，资本市场对不动产充分开放。因此，国有资产管理端必须形成"以终为始"的全链 条管理思维，将项目未来资本化退出作为管理的终极目标。 这要求在整个资产运营管理中实现更高水平的精细化和效率。传统的"收租绑定大客户"模式面临企业资 金压力和项目运营难题的双重挑战，唯有打通"投融管退"全周期，才能有效应对。 他同时提出，数字化是提升资产管理效率的关键。过去，许多集团内项目公司各自为政，缺乏集团层面 的统一规划和运营协调。而通过搭建管理平台系统实现数字赋 ...

证券代码：605566 证券简称：福莱蒽特 公告编号：2025-052 杭州福莱蒽特股份有限公司 关于签订募集资金专户存储三方监管协议的公告 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个别连带责任。 一、募集资金基本情况 根据中国证券监督管理委员会《关于核准杭州福莱蒽特股份有限公司首次公开发行 股票的批复》（证监许可20213063 号），杭州福莱蒽特股份有限公司（以下简称"公 司"）实际已发行人民币普通股 3,334 万股，每股发行价格 32.21 元，募集资金总额为 人民币 1,073,881,400.00 元，减除发行费用人民币 99,830,686.78 元后，募集资金净额 为人民币 974,050,713.22 元。天健会计师事务所（特殊普通合伙）于 2021 年 10 月 15 日出具了《验资报告》（天健验2021569 号）。公司对募集资金采取了专户存储制度， 设立了相关募集资金专项账户。募集资金到账后，已全部存放于经公司董事会批准开设 的募集资金专项账户内。 （一 ）甲方 已在乙方开设 募集资金专项 账户（以下简称 ...

General Principles - The purpose of the securities investment management system is to standardize the securities investment behavior of Chengdu Silicon Treasure Technology Co., Ltd., control risks, enhance investment returns, and protect the interests of the company and its shareholders [1][2] - Securities investment refers to the investment in securities in domestic and foreign markets under the premise of risk control, aiming to maximize the efficiency of fund utilization and returns [1][2] Applicability - The system applies to the company and its wholly-owned and controlling subsidiaries, requiring approval from the company for any securities investment by its subsidiaries [2] Investment Principles - The company must use its own idle funds for securities investment and cannot use raised funds, ensuring that normal operations and project construction funds are not affected [2][3] - Investments should adhere to principles of standardized operations, risk prevention, cautious investment, and value preservation and appreciation [3] Approval Process - Securities investments exceeding 20% of the latest audited net assets or over 50 million RMB require shareholder meeting approval, while those over 5% or 10 million RMB need board approval [3][4] - The investment management department can be authorized to conduct specific types of securities investments within approved limits [4] Management Responsibilities - The investment management department is responsible for the feasibility analysis, risk assessment, and implementation of securities investment plans, ensuring compliance with legal and regulatory requirements [6][7] - The finance department must maintain accurate records and ensure proper accounting for securities investments [7] Risk Control - Strict separation of personnel, information, accounts, funds, and accounting records is required to ensure independent oversight of securities investment activities [8][9] - The internal audit department supervises the use of funds and compliance with investment procedures, reporting any irregularities to the audit committee [9] Information Disclosure - The company must analyze and disclose relevant information regarding securities investments according to legal and regulatory standards, including investment purpose, amount, duration, and risk control measures [10][11]

证券代码：300862 证券简称：蓝盾光电 公告编号：2025-033 安徽蓝盾光电子股份有限公司 关于使用暂时闲置募集资金和自有资金进行现金管理 的进展公告 本公司及董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。 安徽蓝盾光电子股份有限公司（以下简称"公司"）于 2025 年 3 月 4 日召开第七届董事会第二次会议和第七届监事会第二次会议，审 议通过了《关于使用暂时闲置募集资金和自有资金进行现金管理的议 案》 ，同意在确保不影响募集资金投资计划正常进行、募集资金安全和 保障公司日常资金运营需求的情况下，公司及子公司使用不超过 4 亿 元（含本数）闲置募集资金（含超募资金）和不超过 1 亿元（含本数） 闲置自有资金进行现金管理。现金管理额度的使用期限自董事会审议 通过之日起不超过 12 个月（含）。在上述额度和期限内，用于现金管理 的资金可循环滚动使用。具体内容详见公司于 2025 年 3 月 4 日在中国 证监会指定信息披露网站巨潮资讯网（www.cninfo.com.cn）披露的《关 于使用暂时闲置募集资金和自有资金进行现金管理的公告》 一、本次使用暂时闲置募集 ...

近日，舟山市市场监督管理局公布一起特种设备安全责任事故处罚公告，舟山中天重工有限公司因对一起致人死亡的特种设备一般事故负主要责任，被处以 人民币18万元罚款。 根据舟山市市场监督管理局出具的行政处罚决定书（舟市监处罚﹝2025﹞7号），2025年1月11日13时30分左右，位于舟山市定海区小沙街道东山嘴的舟山中 天重工有限公司厂区内，发生一起起重作业挤压事故，造成1人死亡。经调查认定，该事故属于特种设备一般事故。 | 处罚决定日期 | 2025-02-25 | | --- | --- | | 处罚内容 | 罚款人民币伍万陆仟叁佰捌拾肆元染角伍分整(¥56384.75) | | 罚款金额(万元) | 5.638475 | 公开资料显示，舟山中天重工有限公司成立于2007年，原名舟山中电绿科船舶修造有限公司，注册资本11.057亿元，注册地位于浙江省舟山市定海区小沙街 道东山嘴。公司业务覆盖船舶修理、改装及海洋工程设备制造领域，持有高新技术企业资质。公司股东包括Isthmus International Limited、舟山南洋之星船业 有限公司及Double Hawkfeather Limited，分别持股42 ...

英国金融行为监管局（FCA）因巴克莱银行在金融犯罪风险管理方面存在问题，罚款其4200万英镑。 ...

第三，短期化融资蕴含哪些风险？更频繁的发债将使偿债成本更易受利率波动影响。考虑到政府债务规 模，本就高企的再融资风险将随债务增速持续超越经济增速而进一步放大。 传统解决方案本应是缩减开支或增加税收，通过改善财政状况降低融资成本。但特朗普政府另辟蹊径 ——贝森特建议将国债发行向短期倾斜。目前未偿国债平均期限约71个月，略高于2000年以来的64个月 均值。财长认为，通过缩短融资期限避免锁定当前高利率，待未来利率下行时可节省成本。 若激进实施，该策略将显著背离美国"规律且可预测" 的债务管理传统。过去40余年，财政部始终向市 场传递"不以交易为目的"的立场，强调融资需求而非机会主义主导发债结构。这种稳定性被视为跨期限 最小化融资成本的基石。 这场豪赌能否成功取决于三大关键问题： 首先，当前利率是否属高位且必然回落？相比2008年金融危机后异常低位的利率环境，当前水平其实更 接近危机前数十年均值。更何况长期利率已包含对短期利率回落的预期。短期利率必须比预期下降更 多，才能进一步拉低长期利率。 其次，调整发债政策的代价几何？若采取渐进方式缩短平均期限，与完全根据收益率波动进行战术调整 的政策截然不同。越接近后者，越可 ...

7月16日，中加基金发布公告，掌舵公司两年有余的董事长夏远洋因工作安排离任，原北京银行品牌管 理部总经理杨琳正式接棒，出任公司董事长及法定代表人，任职自2025年7月15日起生效。这家由北京 银行控股的公募老将，迎来了发展历程中的又一次关键舵手更迭。 杨琳女士，香港中文大学工商管理硕士、西北大学经济学硕士。曾先后在财务公司、信托公司、证券公 司任职。 北京银行工作期间，历任北京银行资产管理部总经理助理、副总经理，公司银行部副总经 理，党委宣传部部长、品 牌管理部（客户体验部）总经理。 夏远洋先生，对外经济贸易大学管理学硕士，经济师，自2023-03-10至2025年7月15日担任中加基金管 理有限公司董事长。夏先生于2002年7月加入北京银行，从事银行公司治理相关工作；2007年10月起， 历任朝外支行行长助理，总行资产托管部副总经理，国际业务部副总经理（主持工作）、资金交易部副 总经理（主持工作），分行纪委书记等职务。其中于2012年12月至2014年3月参与筹备中加基金并担任 公司首任督察长。 | 基金管理人名称 | 中加技金管理有限公司 | | --- | --- | | 公告依据 | 【公开整条证券投 ...

Investment Rating - The aviation industry is rated as "Overweight" [5] Core Views - The industry is expected to maintain a low supply growth rate, which could improve the supply-demand relationship and enhance airline profitability if demand recovers [1][4] - Despite weak ticket prices recently, the high passenger load factor indicates potential for revenue management improvements [1][4] - The report recommends continuous monitoring of peak season ticket prices and passenger load factors, with a positive outlook for major airlines [1][4] Summary by Sections Passenger Load Factor Performance - In June, the three major airlines maintained a high passenger load factor of 84.1%, up 1.8 percentage points year-on-year [2] - Spring Airlines experienced a slight decline in load factor to 92.1%, while Juneyao Airlines showed improvement with a load factor of 86.7% [3] Revenue and Profitability Outlook - The three major airlines forecasted a narrowing of net losses for Q2 2025, with Air China, China Eastern, and China Southern expected to report net losses of 0.94 billion, 4.05 billion, and 8.00 billion respectively, reflecting a year-on-year reduction of 78.0% [4] - The improvement in profitability is attributed to better revenue levels, with domestic ticket prices showing a smaller decline compared to previous quarters [4] Stock Recommendations - The report highlights several stocks with a "Buy" rating, including Air China (753 HK), China Eastern Airlines (670 HK), China Southern Airlines (1055 HK), and Spring Airlines (601021 CH) [8][21] - Target prices for these stocks are set at 6.90 HKD for Air China, 3.20 HKD for China Eastern, and 5.00 HKD for China Southern, among others [8][21]

Summary of Conference Call Records Company Overview - The conference call discusses China Shenhua Energy Company, which operates in multiple sectors including coal, power generation, coal chemical, and transportation [1][2]. Key Financial Metrics - In 2024, the company achieved a revenue of 338.3 billion yuan, a year-on-year decrease of 1.4% [1]. - The net profit attributable to shareholders was 58.6 billion yuan, down 1.7% year-on-year [1]. - In Q1 2024, revenue was 69.5 billion yuan, reflecting a significant year-on-year decline of 41% compared to over 80 billion yuan in Q1 2023 [2]. - The total profit for Q1 2025 is projected to decline by 16.6% [4]. Coal Industry Insights - The coal price has significantly decreased, with the current market price falling below the production and sales costs, impacting overall performance [2]. - The production volume reached 327 million tons in 2024, a year-on-year increase of 0.8%, while sales volume was 459 million tons, supported by policy measures [2]. - The average spot sales price was 617 yuan per ton, down 1.8% year-on-year [3]. Cost and Profitability - The sales cost increased by 1.45% year-on-year, with self-produced coal costs remaining stable at 179 yuan per ton [3]. - The gross profit margin decreased by 2 percentage points to 30% [3]. - The transportation segment saw a decline in gross profit margins due to rising costs, with railway transport turnover increasing by 0.9% [5]. Power Generation Performance - The power generation segment showed resilience, with profits increasing by 2% in 2024, driven by a 5.3% increase in electricity consumption [4]. - However, Q1 2024 saw a decline in total power generation and consumption due to seasonal demand fatigue [4]. Future Outlook and Risks - The company is focusing on new projects in the coal and power sectors, with significant capital expenditures planned [7]. - The projected earnings per share (EPS) for 2025 to 2027 are estimated at 2.72, 2.80, and 2.77 yuan, respectively [8]. - Risks include macroeconomic uncertainties, insufficient domestic demand, and potential impacts from state-owned enterprise reforms [8]. Dividend Policy - The company declared a dividend of 2.26 yuan per share for 2024, with a payout ratio of 76.5%, reflecting a year-on-year increase of 1.3 percentage points [7]. Market and Policy Environment - The company is actively managing its market value and has room for growth despite current challenges [9]. - The credit rating for coal-related businesses remains high, indicating low default risk, although the sector is cyclical [10]. Conclusion - The conference call highlighted the challenges faced by China Shenhua Energy in the coal and power sectors, while also emphasizing the company's strategic focus on new projects and maintaining a strong dividend policy amidst a fluctuating market environment [11].