当地时间8月10日，美国财政部长贝森特表示，他正牵头物色美国联邦储备委员会主席鲍威尔的继任人 选。 美韩将举行联合军演 朝鲜：强烈谴责 严正警告 朝鲜国防相努光铁当地时间10日发表谈话，谴责美韩即将开始举行的"乙支自由护盾"联合军演。谈话 称，美韩毫不掩饰地暴露出对朝鲜的军事对抗立场，给朝鲜半岛和地区的安保环境再次带来严重挑战。 朝方强烈谴责美韩的有关挑衅行为，并就其将导致的负面后果作出严正警告。 【观国内】 国家统计局城市司首席统计师董莉娟解读2025年7月份CPI和PPI数据：7月份，扩内需政策效应持续显 现，居民消费价格指数（CPI）环比由上月下降0.1%转为上涨0.4%，同比持平，扣除食品和能源价格的 核心CPI同比上涨0.8%，涨幅连续3个月扩大。受季节性因素叠加国际贸易环境不确定性影响，工业生 产者出厂价格指数（PPI）环比下降0.2%，国内市场竞争秩序持续优化，环比降幅比上月收窄0.2个百分 点，同比下降3.6%，降幅与上月相同。 2025.08.11 近日，北京放开五环外住房限购。8月9日起，北京楼市新政正式实施，多楼盘已张贴新政海报重点宣 传。据了解，北京从四个方面调整住房公积金政策。某房地 ...

Core Viewpoint - The unlocking of restricted shares for Sanyuan Biotech is a significant event, as it involves 92.946 million shares, accounting for 45.94% of the total share capital, which may impact market dynamics and investor sentiment [2][3][4]. Share Unlocking Details - Sanyuan Biotech announced that 92.946 million shares will be unlocked on August 11, representing 45.94% of the total share capital, primarily held by the controlling shareholder, Nie Zaijian [2][3]. - Out of the unlocked shares, 22.6719 million shares will be available for trading, while 70.2741 million shares will remain locked [3]. Shareholder Actions - In July, Sanyuan Biotech disclosed that shareholder Luxin Capital plans to reduce its holdings by up to 6 million shares within three months, raising concerns about the overall share liquidity [4]. Market Stability Measures - To stabilize market confidence amid the unlocking and potential shareholder sell-offs, Sanyuan Biotech's board approved a share buyback plan with a budget of 50 million to 100 million yuan [4]. Industry Challenges - Sanyuan Biotech faces challenges due to its reliance on international markets, with 70.70% of its revenue coming from exports in 2024 [6]. - The company is currently subject to a preliminary anti-dumping duty of 450.64% imposed by the U.S. Department of Commerce, which could significantly impact its sales in the U.S. market [6]. Product Structure Concerns - The company's product structure is heavily reliant on erythritol, which accounted for 72.30% of its revenue in 2024, making it vulnerable to market fluctuations [7]. - Sanyuan Biotech plans to diversify its product offerings and enhance R&D to mitigate risks associated with its current product concentration [7]. Market Conditions - The erythritol market has experienced significant price fluctuations, with prices dropping from 40,000 yuan/ton in 2021 to as low as 9,500 yuan/ton in the first half of 2023, affecting production incentives [7]. - The industry is currently in a phase of cyclical volatility, with excess capacity still a concern, although market mechanisms may lead to consolidation and improved conditions for efficient producers [7]. Future Outlook - Sanyuan Biotech is at a critical juncture, facing both internal and external pressures, and its ability to navigate these challenges for sustainable growth remains to be seen [8].

Core Viewpoint - The recent announcement by Sanyuan Biological regarding the lifting of restrictions on a significant portion of its shares has raised concerns among investors, particularly in light of the company's operational challenges and reliance on international markets [2][3][6]. Group 1: Share Unlocking and Market Impact - Sanyuan Biological will unlock 92.946 million shares, accounting for 45.94% of its total share capital, on August 11, with 22.672 million shares available for trading [2][3]. - The company is facing additional market pressure as other shareholders, such as Luxin Capital, plan to reduce their holdings by up to 6 million shares [3]. - The unlocking of shares is expected to increase the total supply in the market, potentially leading to short-term stock price volatility, especially for companies with weaker fundamentals [5]. Group 2: Financial Performance and Challenges - Sanyuan Biological has experienced fluctuating performance, with revenues of 675 million yuan, 500 million yuan, and 713 million yuan from 2022 to 2024, and net profits of 164 million yuan, 56 million yuan, and 105 million yuan during the same period [5][6]. - The company heavily relies on international markets, with 70.70% of its main business revenue coming from exports in 2024 [6]. - The U.S. Department of Commerce has imposed a preliminary anti-dumping duty of 450.64% on Sanyuan Biological, which is expected to impact its sales in the U.S. market [6]. Group 3: Product Structure and Market Conditions - Sanyuan Biological's product structure is relatively singular, with erythritol revenue constituting 72.30% of total revenue in 2024 [7]. - The company acknowledges that fluctuations in the erythritol market or failures in new product development could adversely affect its performance [7]. - The erythritol market has seen significant price declines, with prices dropping from a peak of 40,000 yuan/ton in 2021 to as low as 9,500 yuan/ton in the first half of 2023, leading to reduced production and market exits by some companies [7]. Group 4: Strategic Responses - In response to market pressures, Sanyuan Biological has initiated a share buyback program, aiming to repurchase shares worth between 50 million and 100 million yuan [4]. - As the company navigates internal and external pressures, its ability to adapt and achieve sustainable growth remains to be seen [8].

Core Viewpoint - The recent announcement by Sanyuan Bio regarding the lifting of restrictions on a significant portion of its shares has raised concerns among investors, particularly in light of the company's operational challenges and reliance on international markets [2][3][5]. Share Unlocking and Market Impact - Sanyuan Bio will unlock 92.946 million shares on August 11, representing 45.94% of its total share capital, primarily held by the controlling shareholder, Nie Zaijian [2][3]. - Out of the unlocked shares, 22.6719 million shares will be available for trading, while 70.2741 million shares will remain locked [3]. - The company has also disclosed that another shareholder, Luxin Capital, plans to reduce its holdings by up to 6 million shares within three months, further intensifying market scrutiny [3]. Market Confidence and Stock Buyback - In response to the potential market pressure from the share unlock and shareholder reductions, Sanyuan Bio has initiated measures to stabilize market confidence, including a share buyback plan with a budget of 50 million to 100 million yuan [4]. - As of July 8, 2025, the company has repurchased approximately 2.33 million shares, accounting for 1.15% of its total share capital, with a total expenditure of about 60.68 million yuan [4]. Operational Challenges - Sanyuan Bio has faced operational challenges, including a significant reliance on international markets, with 70.70% of its revenue coming from exports in 2024 [6]. - The company has experienced revenue fluctuations, with reported revenues of 675 million yuan in 2022, 500 million yuan in 2023, and 713 million yuan in 2024, alongside net profits of 164 million yuan, 56 million yuan, and 105 million yuan for the same years [6]. - The recent imposition of a 450.64% anti-dumping duty by the U.S. Department of Commerce poses additional challenges for the company's sales in the U.S. market [6][7]. Product Structure and Market Dynamics - Sanyuan Bio's product structure is heavily reliant on erythritol, which accounted for 72.30% of its revenue in 2024, raising concerns about vulnerability to market fluctuations [8]. - The erythritol market has experienced significant price volatility, with prices dropping from a peak of 40,000 yuan per ton in 2021 to as low as 9,500 yuan per ton in the first half of 2023 [8]. - The industry is currently in a phase of cyclical volatility, with excess capacity still a concern, although market mechanisms are expected to lead to consolidation and a more favorable competitive landscape for efficient producers [8]. Future Outlook - Sanyuan Bio is at a critical juncture, facing both internal and external pressures, and its ability to navigate these challenges and achieve sustainable growth remains to be seen [9].

Core Viewpoint - The report outlines the verification opinion of CITIC Construction Investment Securities Co., Ltd. regarding the listing and circulation of restricted shares from the initial public offering (IPO) of Zhejiang Haizheng Biological Materials Co., Ltd. on the Sci-Tech Innovation Board, confirming compliance with relevant regulations and the accuracy of information disclosure [1][8]. Summary by Sections Type of Restricted Shares - The restricted shares being listed are part of the company's IPO, totaling 50,669,517 shares, which were listed on August 16, 2022. The total share capital after the IPO is 202,678,068 shares, with restricted shares accounting for 156,470,896 shares (77.20%) and unrestricted shares for 46,207,172 shares (22.80%) [1]. Shareholder Information - The restricted shares involve three shareholders: Taizhou Jiaojiang Chuanghe Enterprise Management Partnership (Limited Partnership), Taizhou Jiaojiang Chuangyou Enterprise Management Partnership (Limited Partnership), and Taizhou Chuangyi Enterprise Management Service Center (Limited Partnership), holding a total of 6,390,100 shares, representing 3.15% of the current total share capital. The lock-up period for these shares is 36 months from the listing date, expiring on August 16, 2025, with the actual listing date adjusted to August 18, 2025, due to a non-trading day [2][3]. Changes in Share Capital - Since the formation of the restricted shares, there have been no changes in the company's share capital due to profit distribution or capital increase [2]. Commitments by Shareholders - The shareholders have committed not to transfer or manage their shares for 36 months post-listing and to comply with relevant regulations during any future share reductions. Any income from violations will be returned to the company [3][4]. Lock-up Period Extension - The lock-up period for certain shareholders was automatically extended by six months to February 15, 2026, due to the stock price falling below the IPO price for 20 consecutive trading days [5][7]. Total Restricted Shares for Listing - The total number of restricted shares for listing is 6,390,100 shares, with the listing date set for August 18, 2025 [7]. Verification Opinion - The sponsor institution confirms that the listing of the restricted shares complies with the Company Law, Securities Law, and relevant regulations, and that the information disclosure is true, accurate, and complete [8].

周三（8月6日），共有7家公司限售股解禁，合计解禁量为1614.08万股，按最新收盘价计算，合计解禁 市值为6.65亿元。从解禁量来看，龙图光罩、飞鹿股份、安集科技解禁量居前，解禁股数分别为830.45 万股、578.63万股、54.86万股。从解禁市值来看，0家公司解禁股数超亿元。龙图光罩、恒玄科技、安 集科技解禁市值居前，解禁市值分别为3.85亿元、9929.21万元、8223.41万元。从解禁股数占总股本比 例来看，龙图光罩、飞鹿股份、安集科技解禁比例居前，解禁比例分别为6.22%、2.74%、0.33%。 ...

Group 1 - The core viewpoint of the article is that Guotai Junan Securities Co., Ltd. has conducted a review of the restricted shares of Beikong Technology Co., Ltd. that are set to be released for trading following a major asset restructuring transaction [1][9] - The type of restricted shares being listed for circulation is related to the issuance of shares and cash payment for asset acquisition, along with the fundraising for the associated transaction [1] - The company received approval from the China Securities Regulatory Commission on July 4, 2022, to issue shares for asset acquisition and to raise no more than 68 million yuan [1] Group 2 - A total of 12,117,610 new shares were registered with the China Securities Depository and Clearing Corporation on August 10, 2022 [2] - The lock-up period for the newly issued shares is set for 36 months from the date of issuance, during which the shares cannot be transferred [2][3] - The total share capital of the company has increased to 184,945,734 shares following the completion of the share issuance and registration [2] Group 3 - The controlling shareholder, Minmetals Technology Group Co., Ltd., and other related parties have made commitments regarding the lock-up period for the shares, agreeing to not transfer the shares for 36 months [3][4] - All parties involved have adhered to their commitments regarding the restricted shares, and there are no violations affecting the circulation of these shares [5] - The number of restricted shares being released for trading is 12,117,610 shares [5] Group 4 - The share structure before and after the release of restricted shares shows a decrease in restricted shares from 13,586,320 to 1,468,710, while unrestricted shares increased from 175,677,206 to 187,794,816 [7] - The independent financial advisor has confirmed that the release of restricted shares complies with relevant laws and regulations [8]

（原标题：今日看点｜港交所IPO定价及分配新规生效） 8月4日重点关注的财经要闻与资本市场大事： 1、港交所IPO定价及分配新规今起生效 7月28日，央行开展4958亿元7天期逆回购操作，操作利率为1.40％，今日到期。 5、欧元区8月Sentix投资者信心指数、美国6月工厂订单月率等数据将公布。 （数据来源Wind，内容不构成任何投资建议） 2、90.22亿元市值限售股今日解禁 8月4日，4家公司共发布4个股票回购相关进展。其中，2家公司披露股票回购实施进展，2家公司回购方 案已实施完毕。 从回购实施进展来看，颀中科技、湖南白银回购金额最高，分别回购1.0亿元、1826.2万元。从已完成回 购来看，当日共1家公司回购金额超千万。中航重机、三一重工已完成回购金额最高，分别回购2.0亿 元、524.5万元。 4、今日有4958亿元7天期逆回购到期 8月1日，港交所宣布，IPO建簿配售最低分配比例将从原建议的50%下调至40%，新股分配机制可由发 行人从A、B两种方案中作出选择。其中，机制A下分配至公开认购部分的最大回拨百分比由原建议的 20%上调至35%，机制B不设回补，公开发售比例在10%—60%之间选定。此 ...

公开资料显示，弘业期货于2022年8月在A股上市，近年来公司经营情况受到市场关注。此次大规模限 售股解禁后，公司流通股数量将显著增加，市场供需关系可能发生变化。投资者应结合公司基本面及市 场环境，审慎做出投资决策。 弘业期货（001236）近日迎来重要限售股解禁。根据公开数据显示，公司将于2025年8月5日解禁 43164.2122万股限售股，占解禁前流通市值的132.23%。此次解禁规模较大，市场关注度较高。 弘业期货近期还发布了2024年度权益分派方案，拟每10股派0.1元，股权登记日为8月7日。此外，公司 股东江苏弘苏实业有限公司因债务纠纷，其持有的部分股份已被司法强制减持。 此次解禁的限售股数量较大，占公司流通市值的比例超过130%，可能对市场产生一定影响。投资者需 密切关注解禁后的市场表现及相关公告信息。 ...

Group 1 - On August 4, a total of 10 companies had their restricted shares unlocked, with a total unlock volume of 1.092 billion shares, equating to a market value of 9.022 billion yuan at the latest closing price [1] - Four companies had unlock volumes exceeding 10 million shares, with Bubu Gao, Joy City, and Feiwo Tai leading in unlock volume at 561 million shares, 283 million shares, and 209 million shares respectively [1] - In terms of unlock market value, four companies had unlock values exceeding 100 million yuan, with Feiwo Tai, Bubu Gao, and West Test leading at 3.639 billion yuan, 2.757 billion yuan, and 1.201 billion yuan respectively [1] Group 2 - Four companies had an unlock ratio exceeding 10% of their total share capital, with Feiwo Tai, West Test, and Bubu Gao having the highest unlock ratios at 62.16%, 22.54%, and 20.88% respectively [1]