"这个过程当中，投资银行有非常重要的责任，要提升价值发现培育能力，强化业务协同，提升IPO并 购重组服务的专业性和影响力，深度参与企业价值创造；要注重加强承销保荐和定价能力建设，促进一 二级市场协调平稳发展；要提升财富管理服务能力，进一步强化与投资者的利益绑定，加快健全以投资 者回报为核心的评价体系，推动经纪业务、投顾业务和综合财富管理转型发展，对各类中长期资金要做 好产品交易、做市风险管理等全方位支持。"吴清说。 吴清强调，要助力完善"长钱长投"的市场生态，要提升跨境金融综合服务能力，坚持高水平走出去和高 质量引进来，有条件的机构要稳步推进国际化和"一带一路"布局，提升高度专业化服务和垂直一体化管 理的能力。 "证券行业处在市场经济的最前沿，要在风险可控基础上，不断创新金融产品，更好满足各类投资者和 市场需求。"吴清说，当前金融科技创新方兴未艾，正深刻改变甚至重塑金融市场生态。行业机构要善 于思变、应变、求变，积极研究，稳步探索，推进人工智能、大数据、区块链等技术在资本市场的布局 和应用。 上证报中国证券网讯（记者 梁银妍）中国证监会主席吴清12月6日在中国证券业协会第八次会员大会上 表示，专业服务能力要展 ...

Group 1: Major Asset Restructuring Announcements - Zhongneng Electric plans to acquire 65% equity and debts of three companies, including Shandong Dachai Electric Co., Ltd., which may constitute a major asset restructuring [1][4][6] - Bohai Chemical is planning to acquire control of Anhui Taida New Materials Co., Ltd., which is expected to be classified as a major asset restructuring [1] - Jiahua Technology intends to purchase 90% of Shudun Information Technology Co., Ltd. through a combination of share issuance and cash payment, likely constituting a major asset restructuring [1][11] Group 2: Regulatory Developments - On December 5, the China Securities Regulatory Commission publicly solicited opinions on the draft of the "Regulations on the Supervision and Administration of Listed Companies," which aims to standardize merger and acquisition behaviors [2] - The draft regulations include detailed definitions and requirements for major asset restructuring, acquisition behaviors, and the roles of financial advisors [2] Group 3: Financial and Operational Implications - Zhongneng Electric's acquisition involves a cash payment of approximately 96.32 million yuan and 114 million yuan in debts from the target companies, with the potential for significant operational synergies in the power industry [4][7] - Jiahua Technology's acquisition of Shudun Technology is expected to enhance its capabilities in the Internet of Things and big data sectors, leveraging synergies in technology and customer service [12][14] - Prior to the announcements, Zhongneng Electric's stock rose by 12.76%, closing at 9.28 yuan per share, with a total market capitalization of 5.547 billion yuan [8]

Group 1 - Multiple A-share companies are planning significant asset restructurings, including Zhongneng Electric, Bohai Chemical, and Jiahua Technology [1][17] - Zhongneng Electric is planning to acquire 65% equity and debt from three companies, which may constitute a major asset restructuring [1][3] - Bohai Chemical is in the process of acquiring control of Anhui Taida New Materials, which is also expected to be a major asset restructuring [1][17] - Jiahua Technology intends to purchase 90% of Shudun Technology's shares through a combination of cash and stock issuance, likely constituting a major asset restructuring [1][11] Group 2 - The China Securities Regulatory Commission is soliciting public opinions on the draft of the "Regulations on the Supervision and Management of Listed Companies," which aims to standardize merger and acquisition behaviors [2][18] - The draft regulations will clarify definitions, requirements, and procedures for major asset restructurings, as well as the roles and responsibilities of financial advisors [2][18] Group 3 - Zhongneng Electric's acquisition involves a cash payment for 65% equity and debts amounting to approximately 96.32 million yuan and 114 million yuan for two of the companies, with the third company having debts of about 81.69 million yuan [3][19] - The transaction is expected to enhance Zhongneng Electric's product offerings in the high-voltage sector and improve its market competitiveness [7][23] - Jiahua Technology's acquisition of Shudun Technology is anticipated to create synergies in business, technology, and customer service, enhancing the company's market competitiveness [14][26] Group 4 - Zhongneng Electric's stock rose by 12.76% to 9.28 yuan per share, with a total market capitalization of 5.547 billion yuan following the announcement [8][23] - Jiahua Technology's stock was priced at 48 yuan per share before its suspension, with a total market capitalization of 3.712 billion yuan [15][27]

Group 1 - The core viewpoint of the article is the launch of the Longyan City Forestry Financial Blockchain Financing Service Platform, aimed at enhancing inclusive financial services in the forestry sector [2] - The platform is the first city-level forestry financial blockchain platform in Fujian Province and the first in the national forestry and grassland system [2] - The platform utilizes blockchain technology to connect forestry operators, financial institutions, government, and credit agencies, creating an integrated financial service system for forestry [2] Group 2 - The platform addresses key pain points in forestry financing, such as difficulties in obtaining financing, cumbersome processes, and information asymmetry [2] - It aims to improve the financing success rate for forestry operators by streamlining the application and approval processes [2]

Group 1 - Multiple A-share companies are planning significant asset restructurings, including Zhongneng Electric, Bohai Chemical, and Jiahua Technology [1][2] - Zhongneng Electric is planning to acquire 65% equity and debts of three companies, which may constitute a major asset restructuring [4][7] - Bohai Chemical is in the process of acquiring control of Anhui Taida New Materials, which is expected to be classified as a major asset restructuring [1][2] - Jiahua Technology intends to purchase 90% of Shudun Technology's shares through a combination of cash and stock issuance, also likely constituting a major asset restructuring [11][14] Group 2 - The China Securities Regulatory Commission (CSRC) is soliciting public opinions on the draft of the "Regulations on the Supervision and Management of Listed Companies," which aims to standardize merger and acquisition behaviors [2] - The draft regulations will clarify definitions, requirements, and procedures for major asset restructurings, as well as the roles and independence of financial advisors [2] Group 3 - Zhongneng Electric's acquisition involves purchasing 65% equity and debts from three companies, with a total debt of approximately 2.1 billion yuan [4][8] - The financial performance of the target companies shows losses, with Shandong Dachai Electric reporting a net loss of 30.83 million yuan and Shandong Dachai High Voltage Switch reporting a net loss of 14.14 million yuan for the first ten months of 2025 [8] - The acquisition is aimed at enhancing Zhongneng Electric's product offerings in the high-voltage sector and improving market competitiveness [8] Group 4 - Jiahua Technology's acquisition of Shudun Technology is expected to create synergies in business, technology, and customer relations, enhancing the company's market competitiveness [15] - Shudun Technology specializes in domestic password technology and has received multiple awards, indicating its strong position in the information security sector [15] - Jiahua Technology's stock is set to resume trading on December 8, 2025, after a temporary suspension [12][16]

天眼查App显示，近日，长沙量晖科技有限公司成立，法定代表人为沈凯丰，注册资本100万人民币， 经营范围为一般项目：电子产品销售;电工仪器仪表销售;电子测量仪器销售;光学仪器销售;物联网设备 销售;教学专用仪器销售;集成电路销售;集成电路芯片及产品销售;半导体器件专用设备销售;智能无人飞 行器销售;数字视频监控系统销售;工业机器人销售;互联网设备销售;电子元器件与机电组件设备销售;工 业控制计算机及系统销售;办公设备耗材销售;软件销售;技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广;信息系统集成服务;区块链技术相关软件和服务;信息系统运行维护服务;物联网技术 服务;人工智能通用应用系统;智能机器人的研发;集成电路设计;集成电路芯片设计及服务;智能控制系统 集成;云计算装备技术服务;信息技术咨询服务;软件开发;专业设计服务;工业机器人安装、维修;通用设备 修理;专用设备修理;计算机及办公设备维修;仪器仪表修理;广告设计、代理;图文设计制作;打字复印;会议 及展览服务;数字创意产品展览展示服务（除依法须经批准的项目外，自主开展法律法规未禁止、未限 制的经营活动）。 ...

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) will hold a roundtable on December 15 focusing on cryptocurrency, financial oversight, and privacy [1] Group 1 - The meeting will be led by SEC officials, including Chairman Paul S. Atkins and Crypto Task Force head Richard B. Gabbert [1] - Notable participants will include Zcash founder Zooko Wilcox and several representatives from the cryptocurrency and blockchain sectors [1]

最近，有跨境电商卖家反映，万圣节相关商品售出5600多单，其中有1700多单退货。然而，因退货成本 常超过商品本身售价，叠加海外仓拒收、清关流程复杂、缺乏统一逆向物流标准等，导致大量退货长时 间滞留。近年来，我国跨境电商进出口规模持续攀升，2024年总额达2.71万亿元，连续3年保持9%以上 增速。破解高增长下的"退货困局"，补上跨境电商退货物流短板，是降低卖家成本、提升消费者体验的 重要举措，更将促进跨境电商从快速增长向高质量发展跨越。 筑牢物流基础，畅通回程"动脉"。将跨境电商退货物流体系纳入国家现代物流体系建设整体布局，统筹 考虑退货集散枢纽与海外前置处理节点的功能定位。与主要贸易伙伴建立互认的退货便利化规则，减少 清关障碍。鼓励国际物流企业与海外仓运营主体深化合作，推广集货退运模式。将海外仓升级为具备自 动化和翻新能力的区域性枢纽，以规模化运营降低物流成本，加速退货检测、维修和再销售。支持在综 保区、综试区推广"退货中心仓"机制，让退货商品能够高效完成入境申报、质检、翻新及重新上架的无 缝衔接。 深耕绿色合规，打造循环生态。企业应对标国际环境、社会和公司治理（ESG）准则，建立健全退货全 生命周期可持 ...

Core Viewpoint - The rapid expansion of the cryptocurrency and tokenized asset market is accompanied by significant risks, leading to severe financial losses for many investors [2][4][5]. Group 1: Market Risks - Recent fluctuations in Bitcoin prices have resulted in substantial losses for investors, with a notable drop below $85,000 and a maximum daily decline exceeding 7% [4]. - The characteristics of the cryptocurrency market, such as lack of price limits and high volatility, make it unsuitable for investors with low risk tolerance [5][9]. Group 2: Regulatory Actions - A joint risk warning was issued by seven associations, including the China Internet Finance Association, urging the public to be vigilant against various forms of cryptocurrency and tokenized asset activities [5][9]. - Financial institutions are prohibited from engaging in activities related to cryptocurrency mining and trading, and must not provide any financial services to such enterprises [9][10]. Group 3: Emerging Risks in Tokenization - The market is witnessing a rise in asset tokenization, but this also attracts illegal activities such as fraudulent fundraising [12][13]. - The financial management authorities in China have not approved any asset tokenization activities, highlighting the associated risks, including false asset risks and speculative trading [13][14]. Group 4: Investment Awareness - Experts emphasize the importance of establishing a correct investment mindset and enhancing risk awareness among investors to avoid participating in illegal activities related to cryptocurrencies [16]. - The focus should be on utilizing emerging technologies like blockchain to support the high-quality development of the digital economy rather than engaging in speculative trading [16].

Core Viewpoint - The rapid expansion of the virtual currency and tokenized asset market poses significant risks to investors, prompting multiple associations in China to issue warnings about the dangers of speculative trading in these assets [1][2]. Group 1: Market Risks - Investors in Bitcoin have recently experienced extreme volatility, with prices dropping below $85,000 and a maximum daily decline exceeding 7%, following a peak of over $120,000 in October [2]. - The characteristics of the virtual currency market, such as the absence of price limits and high susceptibility to market fluctuations, make it unsuitable for investors with low risk tolerance [2]. Group 2: Regulatory Actions - Seven associations, including the China Internet Finance Association and the China Banking Association, have jointly issued risk warnings, urging the public to remain vigilant against various forms of virtual currency and tokenized asset activities [2][5]. - The People's Bank of China has reiterated its commitment to combating virtual currency trading and speculation, emphasizing the need for coordinated efforts among regulatory bodies to maintain financial order [5][7]. Group 3: Illegal Activities - The rise of speculative trading in virtual currencies has been linked to illegal activities such as money laundering, fraud, and pyramid schemes, which pose serious threats to public financial security [5]. - The emergence of "air coins," which lack substantial technological innovation and transparent operational mechanisms, has been highlighted as a significant concern in the current market environment [4]. Group 4: Investment Awareness - Experts emphasize the importance of establishing a correct investment mindset and enhancing risk awareness among investors, advising against participation in virtual currency and tokenized asset activities [11]. - The potential for illegal fundraising and securities issuance under the guise of virtual currency mining is a critical issue that investors should be cautious of [11].