Core Viewpoint - The company acknowledges that its stock price fluctuations are influenced by multiple factors, including macroeconomic conditions, industry cycles, market sentiment, and investor composition [1] Group 1: Company Actions and Strategies - The company emphasizes the importance of market value management and has implemented a systematic and regular mechanism to promote value discovery and market recognition [1] - The company is actively working to enhance operational performance, standardize governance, stabilize shareholder returns, increase shareholding by controlling shareholders, and strengthen investor communication to align market performance with company value [1] Group 2: Business Performance - The company's fundamentals remain stable, and all business operations are progressing in an orderly manner, showing gradual improvement [1]

Core Viewpoint - The company is focusing on utilizing idle funds for low-risk financial products rather than initiating a share buyback plan, emphasizing the importance of shareholder returns and efficient fund usage [1]. Group 1: Company Response to Investor Inquiry - The company acknowledges the importance of shareholder returns and states that the decision to invest idle funds in low-risk financial products is based on a phased financial plan and risk control requirements [1]. - The company assures that it will consider share buyback or increased dividends in conjunction with its financial status and development strategy, while adhering to information disclosure obligations [1]. - The investment in low-risk financial products is aimed at improving fund utilization efficiency and increasing cash asset returns [1].

Core Viewpoint - The company emphasizes that its stock price performance in the secondary market is influenced by multiple complex factors, including macroeconomic conditions, market trends, and investor expectations [1] Group 1: Company Strategy and Communication - The company places a high priority on investor returns and adheres to a prudent operational approach [1] - The company has established and implemented a market value management system, closely monitoring market dynamics and continuously conducting research and assessments to formulate specific plans [1] - The company actively communicates and engages with investors through various channels, including performance briefings, investor hotlines, and the Shanghai Stock Exchange's interactive platform [1] Group 2: Focus on Core Business - The company will continue to focus on its main business, enhancing its intrinsic value and core competitiveness [1] - The company aims to effectively convey its development value and strives to achieve long-term, stable returns for investors [1]

（编辑 丛可心） 证券日报网讯 1月13日，贵研铂业在互动平台回答投资者提问时表示，公司目前没有回购计划，但公司 一直以来高度重视市值管理相关工作，不断加强在价值创造、价值传递和价值实现三个主要阶段的工 作。聚焦贵金属主责主业，深耕三大核心产业板块。持续加强和改进投资者关系相关工作方式，全面客 观将贵金属产业价值有效向资本市场、广大投资者进行传递，促使投资者全面系统了解公司，了解贵金 属产业的价值。 ...

Core Viewpoint - The company emphasizes enhancing operational standards as a foundation for growth, focusing on solidifying existing advantages, expanding innovative cultural tourism businesses, and improving risk control and management to increase long-term investment value [1] Group 1 - The company aims to strengthen its existing advantageous sectors while exploring market opportunities in cultural tourism that align with its unique characteristics [1] - The company is committed to enhancing its quality and long-term investment value through various strategies, including cash dividends, standardized operations, improved information disclosure, and strengthened investor communication [1]

证券日报网讯 1月13日，中国平安在互动平台回答投资者提问时表示，公司于2025年3月19日召开第十 三届董事会第七次会议，审议通过了《关于注销回购A股股份、减少注册资本并相应修订〈公司章程〉 的议案》，并于2025年9月完成了对102592612股A股股份的注销。公司高度重视股东回报，一直在寻找 对市值管理最佳的平衡，回购和分红都是股东回报的重要组成部分，目前来看，绝大部分投资者更重视 现金分红，公司现金分红水平已经超过10年保持上涨。公司将保持稳定、一致的分红政策。 （编辑 任世碧） ...

Group 1 - The company emphasizes the importance of market value management and will continue to focus on the development of its core business [2] - The company aims to enhance its core competitiveness to provide stable and sustainable returns to investors [2] - The company plans to improve the transparency and timeliness of its information disclosure and actively communicate with investors to increase market understanding and confidence [2]

Investment Rating - The report maintains a "Buy" rating for Chongqing Rural Commercial Bank (渝农商行) [1] Core Views - The bank's net profit is expected to grow by 5.1% in 2025, 10.1% in 2026, and 9.5% in 2027, with corresponding book value per share (BVPS) of 12.05, 13.13, and 14.32 yuan [7] - The target price is set at 8.29 yuan per share, reflecting a 10% premium over comparable companies [7] Summary by Sections 1. Local State-Owned Capital Continues to Increase - The new chairman's appointment is expected to drive the execution of strategies aimed at addressing weaknesses and tapping potential [14] - The local state-owned assets management committee has a strong focus on market value management, with significant shareholding in the bank [14][18] 2. Actively Expanding Scale Based on Regional Endowments - The economic turning point in Chongqing is expected to drive demand for the bank's services [24] - The bank is increasing its public loan issuance, with public loans accounting for 54% of the total [39] 3. Improvement in Net Interest Margin and Asset Quality - The bank is experiencing a narrowing of interest margin decline, with asset quality showing clear improvement [10] - The credit cost is expected to remain low, with non-performing loans being effectively managed [10] 4. Plans for ROE Improvement - The bank's return on equity (ROE) is projected to improve, supported by strategic initiatives and management experience [10][19] 5. Financial Forecast and Investment Recommendations - The report provides detailed financial projections, including revenue and profit growth, alongside a valuation analysis [9][7]

证券日报网讯 1月13日，汇中股份（300371）在互动平台回答投资者提问时表示，二级市场股价走势受 多重因素综合影响，存在不确定性。一直以来公司坚持聚焦超声测流主业，深耕核心赛道，重视市值管 理与全体股东利益，致力于通过稳健经营、提质增效持续提升公司价值，以优良业绩回报广大投资者。 同时，公司严格恪守上市公司治理规范及信息披露相关法律法规，持续优化信息披露质量与投资者沟通 机制。截至本回复日，公司不存在应披露而未披露的重大事项，亦未收到公司控股股东、持股5%以上 股东、董事、高级管理人员拟在未来三个月内减持公司股份的通知。未来公司将严格按相关规定及时履 行信息披露义务。 ...

Group 1: Market Overview - As of the end of 2025, there are 5,469 listed companies in A-shares with a total market capitalization of 123 trillion yuan, reflecting a year-on-year growth of 22.5% for existing companies [1] - The average price-to-book ratio of listed companies increased from 3.3 at the beginning of the year to 4.4 by the end of 2025, indicating a steady rise in overall market valuation [2] Group 2: Sector Performance - Technology-driven sectors, particularly manufacturing and scientific research, saw significant market value increases, with total market capitalization growing by 33.3% and 32.1% respectively, contributing to a 4.2 percentage point and 0.1 percentage point increase in their share of A-share market capitalization [2] - Nearly half of the listed companies in manufacturing and scientific research sectors achieved a net asset return rate greater than 5%, supporting their valuations [2] Group 3: Policy and Governance - The report highlights that market capitalization performance reflects national strategic directions, with notable performance in emerging industries such as integrated circuits, artificial intelligence, and high-end manufacturing [3] - Regulatory bodies have introduced a series of policies to enhance the framework for market capitalization management, including improvements in mergers and acquisitions, cash dividends, and share buybacks [3] - Over 98% of companies held their annual shareholder meetings by June 30, and more than 70% of boards consist of 7 or 9 members, indicating a trend towards improved corporate governance [4] Group 4: Corporate Governance - The governance structure is becoming more standardized, with over 96% of companies having a high attendance rate at board meetings and a low incidence of proposal rejections [4] - More than 99% of companies disclosed their 2024 audit reports and internal control audit reports, with over 96% receiving unqualified opinions [4] - The governance report indicates a positive trend in corporate governance, although attention is needed on issues like related party transactions and internal supervision effectiveness [5]