7月24日，中国证监会召开证监会系统党的建设暨2025年年中工作会议，会议提出，稳步推进高水平制 度型开放。系统研究完善资本市场对外开放总体布局、实施路径，稳妥有序抓好自主开放重点举措落实 落地，推动在岸与离岸市场协同发展，持续拓展资本市场跨境合作新空间。 近年来，我国资本市场高水平开放步伐稳健，外资机构积极投身中国市场，中国企业也踊跃"走出去"拓 展国际版图。南开大学金融学教授田利辉对《证券日报》记者表示，当前中国市场对全球资本的吸引力 与日俱增，为全球投资者打开了一扇分享中国新质生产力红利的窗口。 东源投资首席分析师刘祥东在接受《证券日报》记者采访时表示，总体来看，在政策支持下，外资机构 加速布局中国市场，外资持股占比稳步上升。 在田利辉看来，中国资本市场制度型开放成效显著，主要得益于"规则接轨"与"市场吸引力"双轮驱动。 通过互联互通机制扩容、外资准入门槛持续降低、监管规则与国际对标，A股总市值突破100万亿元， 外资持仓稳定在3万亿元以上。可以说，制度型开放的核心是"市场化"与"法治化"，通过规则透明化和 产品多元化，中国资本市场正成为全球资本配置的战略高地。 刘祥东进一步分析称，随着中国市场吸引力不 ...

整体来看，我国经济基本面稳健，具有完整的产业体系、健全的基础设施、超大的市场规模，营商环境 持续优化，以经济高质量发展的确定性应对外部不确定性，释放出长期向好的增长潜力，逐渐成为全球 资本青睐的价值高地。 其二，资本市场政策法规不断完善，市场流动性强、估值低、潜力大，是对外开放的坚实依托。 当前，我国资本市场政策工具箱持续优化，为外资"安心进，放心留"提供稳定制度保障。资本市场充足 的流动性增强了其对国际资本的承载能力，能够满足外资对资金周转效率的需求；市场的低估值意味着 投资成本相对可控，为外资提供更好的入场机会与收益空间；市场潜力大，则使外资能有更多机会分享 我国经济增长红利。总体来看，我国资本市场的上述特征精准匹配外资对于安全、效率、回报、成长的 核心诉求，为资本市场推进对外开放提供关键支撑。 其三，中国核心优质资产价值凸显，上市公司质量整体向好，为国际资本提供优质投资标的。 ■邢萌 近日，中国证监会召开证监会系统党的建设暨2025年年中工作会议，明确下半年七大重点工作，其中之 一为"稳步推进高水平制度型开放"。 推进资本市场对外开放是证监会一以贯之的工作重点，上个月证监会主席吴清在陆家嘴论坛上表示"近 ...

Summary of Key Points Core Viewpoint - The Hong Kong Stock Exchange reported that during the week of July 21 to July 27, a total of 9 companies submitted applications, 1 company passed the hearing, and 1 new stock was listed. Company Summaries - **GoerTek Inc.**: Submitted an application on July 21, focusing on smart sensing interaction solutions, particularly acoustic sensors. It is the fifth largest global provider in this sector with a market share of 2.2% and the largest in China. Revenue for 2022 to 2024 was approximately RMB 31.21 billion, RMB 30.01 billion, and RMB 45.36 billion respectively, with net profits of RMB 3.26 billion, RMB 2.89 billion, and RMB 3.09 billion [2][2]. - **Guangdong Tianyu Semiconductor Co., Ltd.**: Submitted an application on July 22, specializing in silicon carbide epitaxial wafers. It holds the top position in China's market with a revenue market share of 30.6%. Revenue for 2022 to 2024 was approximately RMB 4.37 billion, RMB 11.71 billion, and RMB 5.2 billion respectively, with net profits of RMB 281.4 million, RMB 95.88 million, and a loss of RMB 500 million [3][3]. - **Daheng Technology (Shenzhen) Co., Ltd.**: Submitted an application on July 22, known for its folding bicycles, holding a market share of 26.3% in volume and 36.5% in revenue in China. Revenue for 2022 to 2024 was approximately RMB 2.54 billion, RMB 3 billion, and RMB 4.51 billion respectively, with net profits of RMB 314.34 million, RMB 34.85 million, and RMB 52.29 million [4][4]. - **Juzhi Technology Development Co., Ltd.**: Submitted an application on July 23, focusing on baby monitoring products. Revenue for 2022 to 2024 was approximately RMB 1.90 billion, RMB 3.48 billion, and RMB 4.62 billion respectively, with net profits of RMB 34.82 million, RMB 63.36 million, and RMB 94.69 million [5][6]. - **Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd.**: Submitted an application on July 24, specializing in vaccines. Revenue for 2023 to 2025 was approximately RMB 52.17 million, RMB 260 million, and RMB 410,000 respectively, with net losses of RMB 425 million, RMB 259 million, and RMB 87.32 million [7][7]. - **Fujian Lemo IoT Technology Co., Ltd.**: Submitted an application on July 25, a leader in smart massage services in mainland China, with a market share of 33.9% to 42.9% from 2022 to 2024. Revenue for 2022 to 2024 was approximately RMB 3.30 billion, RMB 5.87 billion, and RMB 7.98 billion respectively, with net profits of RMB 6.48 million, RMB 87.34 million, and RMB 85.81 million [8][8]. - **Anhui Jinyan High Clay New Materials Co., Ltd.**: Submitted an application on July 25, specializing in kaolin materials with a market share of 19.1%. Revenue for 2022 to 2024 was approximately RMB 1.90 billion, RMB 2.05 billion, and RMB 2.67 billion respectively, with net profits of RMB 24.42 million, RMB 43.61 million, and RMB 52.60 million [9][9]. - **Shandong Shengruan Technology Co., Ltd.**: Submitted an application on July 26, providing digital solutions for energy and manufacturing sectors. Revenue for 2022 to 2024 was approximately RMB 3.91 billion, RMB 5.02 billion, and RMB 5.25 billion respectively, with net profits of RMB 37.60 million, RMB 53.70 million, and RMB 59.30 million [10][10]. - **AIWB Inc.**: Submitted an application on July 25, focusing on smart building solutions in Texas. Revenue for 2022 to 2024 was approximately USD 103 million, USD 121 million, and USD 105 million respectively, with net losses of USD 347,000, USD 620,000, and USD 531,000 [11][11]. Company Hearing and IPO - **Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd.**: Passed the hearing on July 27, focusing on innovative vaccines with two core products. Revenue for 2023 to 2025 was approximately RMB 52.17 million, RMB 260 million, and RMB 410,000 respectively, with net losses of RMB 425 million, RMB 259 million, and RMB 87.32 million [12][12]. - **Vili Zhibo-B (09887.HK)**: Launched an IPO from July 17 to July 22, with a subscription rate of 3494.78 times in the public offering. The stock began trading on July 25 at HKD 67.10, a 91.71% increase [13][14].

全球储能装机量快速增长，进而带动储能电池出货量高速攀升。 据ICC鑫椤储能数据库统计，2025年上半年全球储能电池出货量达258GWh，同比增长106%；其中国内 厂家出货252GWh，同比增长109%，中国储能电池出货量已占据全球市场主导地位。与此同时，头部电 池厂商保持快速增长态势，市场集中度持续提升。 受市场需求旺盛影响，今年上半年储能电池厂商整体维持较高产能利用率，部分企业甚至出现供不应求 的局面。在此背景下，以宁德时代新能源科技股份有限公司（以下简称"宁德时代"）、惠州亿纬锂能股 份有限公司为代表的头部厂商，上半年继续引领锂电池产能扩张。例如，宁德时代在福州、山东等地新 增电池产能项目，进一步夯实产能优势。 据高工产业研究院不完全统计，2025年上半年中国储能系统集成环节新签约、开工、投产项目共27个， 总投资额合计超550亿元。整体看，2025年上半年，储能市场延续高增长态势，在旺盛市场需求驱动 下，行业投资扩产热情不减。 据Wind数据统计，截至7月28日，已有8家储能企业披露2025年半年度业绩预告，其中4家企业预计净利 润增长超40%，1家实现扭亏为盈，行业盈利韧性初步显现。 万联证券高端装 ...

Core Viewpoint - The ongoing copyright disputes among short drama companies, particularly involving the platform ReelShort, highlight the challenges of content infringement in a rapidly growing overseas market for short dramas [1][2][5]. Group 1: Copyright Disputes - On July 25, 2023, the short drama platform ReelShort was accused of content infringement by domestic companies Dianzhong and Tinghuadao, claiming that ReelShort copied multiple works from them [1][2]. - Dianzhong stated that the infringed works were successful hits in the domestic market, with the copied content being released after their original works [2]. - Tinghuadao also reported that their short dramas were directly copied by ReelShort, emphasizing the severity of the infringement [2]. Group 2: Market Performance - ReelShort, launched in August 2022, has seen a significant increase in downloads, rising from 402nd to 2nd place in the iOS free app rankings in the U.S. within a short period [3]. - As of March 2023, ReelShort's total global revenue reached $490 million, with in-app purchase revenue projected to grow by 31% to $130 million in Q1 2025 [4][8]. - In comparison, Dianzhong's platform DramaBox reported a 29% increase in in-app purchase revenue to $120 million in the same quarter, indicating strong competition [9]. Group 3: Legal Challenges - The legal process for copyright infringement is complicated, especially for domestic companies pursuing claims against foreign entities, due to differences in legal systems and the complexity of cross-border legal services [6][5]. - Despite the challenges, Dianzhong has decided to initiate legal proceedings against ReelShort in the U.S. after unsuccessful negotiations [5]. Group 4: Industry Trends - The overseas short drama market is experiencing rapid growth, with projections indicating that in-app purchase revenue could reach $1.5 billion in 2024 and $3.8 billion by 2025 [8]. - The competition is intensifying, with various companies, including TikTok and Kunlun Wanwei, entering the overseas short drama space, leading to concerns about content homogenization and user fatigue [10]. - Industry analysts suggest that the current trend of copying content may hinder long-term growth and innovation in the short drama sector [10].

日前，上海期货交易所迎来历史性时刻——我国期货市场首个再生商品品种铸造铝合金期货及期权正式挂牌交易。这一创新金融工具的落地，不仅标志着我 国有色金属期货品种实现全产业链覆盖，更以"绿色金融"赋能再生金属产业，为全球铝工业低碳转型提供中国方案。安徽立兴铝业科技有限公司作为首批交 割企业，凭借在再生铝领域的技术创新与产业担当，成为这一里程碑事件的重要参与者。 安徽立兴铝业科技有限公司 产业变革：从金融创新到绿色升级的跨越 （一）定价机制革新：透明度重塑产业链生态 期货市场的价格发现功能为再生铝行业注入新动能。长期以来，再生铝市场因废铝来源分散、质量标准不统一，导致定价透明度不足，上下游企业面临信息 不对称风险。此次上市的AD12.1期货合约通过公开竞价形成公允价格，实时反映市场供需动态，使再生铝定价从"区域议价"转向"全国基准"。以上期所公布 的K值≤0.2的夹渣量标准为例，标准化的质量要求倒逼企业优化生产工艺，推动产业链上下游以期货价格为锚点调整采购与销售策略，显著提升价格传导效 率。 （二）风险管理突破：实体与金融的深度协同 AD12.1期货的挂牌为企业提供精准对冲工具。过去，再生铝企业常因废铝与原铝价差波动 ...

为助力浙江省义乌市深化国际贸易综合改革，经海关总署批复同意，杭州海关7月28日对外发布十项支 持服务措施，涵盖贸易业态创新、监管模式优化、物流通道畅通等多个领域，全方位推动义乌国际贸易 高质量发展。 义乌是全球小商品的集散中心，在上一轮国际贸易综合改革中，义乌成功在全国率先落地市场采购贸易 方式。此次出台的10项措施中的第一条就锁定"深化市场采购贸易方式"，提出要推动完善市场采购贸易 改革，支持其适应数字化和多业态融合趋势，鼓励实施组货人制度，试点市场采购出口化妆品采购地申 报检验，来推动小商品通过市场采购贸易方式更快速、更便捷地销往全球。 随后，浙江省政府召开推进"义乌市深化国际贸易综合改革"发布会，指出义乌将扛起为"国家试制度、 为开放建平台、为地方谋发展"使命，着力破解五个方面难题，努力将更多改革成果转化为市场经营主 体的获得感和发展红利。 着力破解的难题，就包括开展日用消费品进口难度较大的问题。当时发布会上，义乌市政府相关负责人 表示，前期，将以浙江中国小商品城（600415）集团股份有限公司作为唯一试点企业，落地玩具等商品 的进口正面清单首单业务，以此为突破，加快进口贸易发展，力争2025年义乌全市 ...

Group 1 - The company, Jin Jing New Energy Holdings (stock code: 1783), announced a financing plan through the issuance of consideration shares, raising approximately HKD 150 million by issuing 19,674,185 shares at a price of HKD 7.98 per share, which represents a premium of 7.11% over the closing price of HKD 7.45 on the announcement date [1] - The issuance of consideration shares accounts for about 1.43% of the total shares outstanding as of the announcement date, and approximately 1.41% of the total shares after the issuance is completed, assuming no changes in the total shares outstanding during the issuance period [1] - The funds raised will be used for a sales collaboration with FMG to expand the recycling and green product market and to broaden the revenue base, among other general corporate purposes [1] Group 2 - The financing is advised by Jianquan Financing Limited and VBG Capital Limited [1] - Jin Jing New Energy Holdings is primarily engaged in upper structure construction, maintenance, renovation, and extension engineering services, as well as reverse supply chain management and environmental services, including industrial materials trading [1]

Group 1 - Figma has raised its IPO pricing range to $30 to $32 per share, aiming for a valuation of approximately $18.8 billion, reflecting strong investor interest in high-growth tech stocks [1] - The company plans to raise $1.18 billion through this offering, with the previous pricing range set at $25 to $28 per share [1] - If successful, Figma's valuation will be closer to the $20 billion level agreed upon in a 2022 acquisition deal with Adobe, which was ultimately abandoned due to regulatory scrutiny [1] Group 2 - The U.S. IPO market has been recovering since April 2025, with expectations of increased activity in the fall, particularly driven by high-growth tech companies [1] - Figma, established in 2012, is a cloud-based collaborative design platform favored by designers and developers for its real-time web-based design capabilities [2] - The upcoming IPO is seen as a significant milestone for tech unicorns returning to the capital markets [2]

期货热点追踪 阿根廷削减大豆和玉米出口税，乌克兰收成暴跌45%，叠加上几乎完美的美农天气，农产品市场的多空 剧本该怎么写？ 相关链接 ...