在6月15日举行的第27届上海国际电影节开幕论坛上，《哪吒》系列影片出品方光线传媒董事长王 长田表示，《哪吒之魔童闹海》（简称《哪吒2》）或已带来超2000亿元人民币的GDP增量，预计 衍生品销售额将超千亿元，未来海外票房有望超过1亿美元。他同时呼吁，重新调整利益分配关 系，让制片方得到更多的利益。 谈《哪吒2》：衍生品销售额将超千亿，海外票房将超1亿美元 上证报记者 杨翔菲 摄 作为《哪吒》系列影片出品方，王长田认为，中国电影发展到目前阶段必然会产生《哪吒》这样的 产品，但是它是个个例。 王长田表示："中国影片出海是必然的选择和趋势。目前，中国产品和服务在全球逐渐打开市场， 国外观众有想要了解中国文化的需求，这为中国电影出海带来了机会。" "我们预计最终《哪吒2》的海外票房会超过1亿美元。这已经是20年来中国电影海外票房的最高水 平。"王长田说。 目前，中国电影海外票房纪录保持者为2000年上映的《卧虎藏龙》，其海外票房达2.13亿美元。 截至6月15日，《哪吒之魔童闹海》全球总票房已超158亿元人民币，位居全球影史第五名。 谈电影：呼吁调整票房分账机制，中国电影需要重新出发 王长田认为，目前中国电影行业的 ...

"'谷子'只是年轻人热爱消费的载体，真正让消费者买单的是对IP内容的认同与情怀，优质内容的文化输 出已经能从'谷子'销售端的变化初见端倪。"淘天潮玩行业负责人表示。 值得一提的是，谷子的热度也从游戏周边、动漫周边开始向影视与明星蔓延。从成交情况来看，今年影 视周边和明星周边增长也尤为迅猛，以明星原创OC形象开设的"周可可旗舰店"上新当日实现千万成 交，成为今年618首个破千万的明星周边商品。而随着《藏海传》的热播，相关搜索词在淘宝单日最高 达20万次，诞生多款百万热门单品。 （文章来源：新华财经） 近日，第三方机构披露的数据也印证了淘天潮玩市场的火爆。电商咨询机构解数咨询在《2025年618第 一波回顾》中指出，淘天潮玩行业市占率高达70%，是第二名的近3倍，持续强势领跑。电商数据分析 平台魔镜洞察数据显示，今年5月淘天模玩、动漫、周边类目同比增长30.7%，其中盲盒、手办、周边 等趋势品类更是暴涨71.5%。 数据还显示，"天猫618"期间，淘天约有2000个IP上新了超过20万款周边，其中，叠纸心意旗舰店上新 当天即破亿，成为今年玩具潮玩行业首个破亿店铺，米哈游旗舰店、原神旗舰店、明日方舟旗舰店、时 空中 ...

第三条 本制度适用于公司及合并报表范围内子公司（以下统称"控股子公 司"）的金融衍生品交易业务。公司及控股子公司开展金融衍生品交易业务，应 当按照本制度相关规定，履行相关审批程序和信息披露义务。未经公司有权决策 机构审批通过，公司及控股子公司不得开展金融衍生品交易业务。 第四条 公司金融衍生品交易行为除遵守国家相关法律、法规及规范性文件 的规定外，还应遵守本制度的相关规定。 第二章 金融衍生品业务操作原则 福建福光股份有限公司 第一章 总则 第一条 为规范福建福光股份有限公司（简称"公司"）金融衍生品交易业 务及相关信息披露工作，加强对金融衍生品交易业务的管理，防范金融衍生品交 易风险，根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市 公司信息披露管理办法》、《上海证券交易所科创板股票上市规则》等有关法 律、法规、规范性文件及《福建福光股份有限公司章程》（以下简称"《公司章 程》"）的规定，制定本制度。 第二条 本制度所称金融衍生品是指场内场外交易或者非交易的，实质为期 货、期权、远期、掉期（互换）等产品或上述产品的组合。金融衍生品的基础资 产既可包括证券、指数、利率、汇率、货币、商品等其他标的 ...

福建海通发展股份有限公司 证券投资及金融衍生品交易管理制度 第一章 总 则 第一条 为规范福建海通发展股份有限公司（以下简称"公司"）的证券投资及金 融衍生品业务的管理与运作，完善证券投资与金融衍生品业务的内部控制体系，建立健 全风险防范机制，依法合规开展证券投资与金融衍生品交易业务，维护公司及全体股东 利益，根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所股 票上市规则》《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》等 相关法律、法规、规范性文件以及《福建海通发展股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，并结合公司实际情况，特制定《证券投资及金融衍生品交易管 理制度》（以下简称"本制度"）。 第二条 本制度所称证券投资，是指在控制投资风险的前提下，以提高资金使用 效率和收益最大化为目的，在证券市场投资有价证券的行为，包括但不限于新股配售或 者申购、上市公司向特定对象及不特定对象发行股票认购、可转换公司债券、已上市交 易的股票、基金、债券等有价证券及其衍生品以及上海证券交易所认定的其他投资行 为。 本制度所称金融衍生品交易，是指期货交易以外的，以互换合 ...

Core Points - The company is preparing for its annual shareholder meeting scheduled for June 19, 2025, with specific guidelines to ensure order and protect shareholder rights [1][2][4] - The meeting will include the review of the 2024 annual report and the board's work report, highlighting the company's performance and strategic direction [6][15] - The company reported a revenue of 32.497 billion yuan for 2024, a decrease of 1.86% year-on-year, with a net profit of 2.114 billion yuan [20][22] Meeting Guidelines - The meeting will have a designated management office to oversee procedures and maintain order [1] - Only authorized participants, including shareholders and company officials, will be allowed entry [1] - Shareholders must present identification for registration on the day of the meeting [1] Voting and Agenda - Voting will be conducted through both on-site and online methods [2][4] - The agenda includes the announcement of the meeting's commencement, review of key proposals, and the election of inspectors [4][5] Financial Performance - The company achieved a total revenue of 32.497 billion yuan in 2024, with a net profit of 2.114 billion yuan, reflecting a decrease in profitability [20][22] - The total assets at the end of 2024 were reported at 201.03 billion yuan, a decrease of 1.375 billion yuan from the beginning of the year [21] - The company's debt ratio improved to 41.48%, down from 44.90% at the beginning of the year [22] Board and Governance - The board of directors held nine meetings in 2024, addressing 51 major topics including strategic planning and investment [7] - The company emphasizes compliance and governance, with ongoing improvements to its internal control systems [12][14] ESG and Sustainability - The company has launched an ESG strategy with specific goals and measures to enhance its sustainability practices [11] - It received recognition for its ESG efforts, including awards for best practices in sustainable development [11]

General Overview - The company establishes a system to regulate major investment activities, ensuring scientific, standardized, and transparent decision-making to safeguard funds and assets, prevent investment risks, and protect the interests of the company and its shareholders [1][2]. Investment Definition - Investment refers to the economic behavior of allocating sufficient funds or equivalent assets to certain fields to obtain returns or capital appreciation in the foreseeable future, including both internal and external investments [1]. Approval Authority - Major investment projects require approval from the company's chairman, board of directors, and shareholders' meeting according to their respective authorities, with a strict review and decision-making process [2][3]. - Specific investment matters reaching certain thresholds must be submitted for board review, including those exceeding 10% of audited annual revenue or net profit [2][3]. Decision-Making Process - Investment project proposals must be submitted in writing by shareholders, directors, senior management, and relevant departments, including key financial indicators and project advantages [5]. - The investment management department is responsible for summarizing and reviewing project proposals, conducting due diligence, and preparing feasibility reports for board submission [5][6]. Securities Investment and Derivative Trading - Securities investment includes various activities such as new stock subscriptions, stock repurchases, and bond investments, while derivatives refer to financial instruments like futures and options [6][7]. - The company must manage funds prudently and focus on its main business, avoiding speculative derivative trading [6][7]. Risk Management - The board should continuously monitor the execution and safety of securities investments and derivatives, taking immediate action in case of significant losses [7][9]. - A feasibility analysis report is required for derivative trading, and independent directors must provide special opinions on such transactions [8][9]. Investment Recovery and Exit - The company can recover external investments under specific circumstances, such as significant deviations from business direction or continuous losses [13][15]. - The financial department is responsible for asset evaluation during investment recovery and transfer processes [13]. Responsibilities of Management - Company directors and management must exercise caution and strictly control investment risks, bearing responsibility for any violations or improper investment actions [38][39]. - The audit committee has the authority to supervise and inspect the company's investment activities [32][33].

II GERIK 投资咨询业务资格：证监许可【2012】31号 航运衍生品数据日报 | | | | 国贸期货研究院 能源化工研究中心 卢钊毅 | | 投资咨询号： Z0021177 | | 2025/6/10 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 数据来源：Clarksons、Wind | | 从业资格号:F03101843 | | | | | 运价指数 | 上海出口集装箱运价 | 中国出口集装箱运价 指数CCFI | SCFI-美西 | SCFIS-美西 | SCFI-美东 | SCFI-西北欧 | | | | 综合指数SCFI | | | | | | | '三三 | 现值 | 2240 | 1155 | 5606 | 2185 | ୧ | 1667 | | Alle | 前值 | 2073 | 1118 | 5172 | 1718 | 6243 | 1587 | | 运 | 涨跌幅 | 8.09% | 3.34% | 8.39% | 27.19% | 11.15% | 5.04% | | ਵਿ | | SCFIS-西北欧 | ...

Core Insights - The global cryptocurrency market is experiencing significant changes, with SHIB's token burn rate soaring to 5762.9%, while Bitcoin's network transaction volume has dropped to 317,000, marking a two-year low. Additionally, BlackRock's IBIT holdings have surpassed $69.5 billion, with over 660,000 Bitcoins held [1] Group 1: Leverage and Derivatives - SHIB's open interest weighted funding rate has turned positive at 0.0048%, indicating a slow shift of funds towards long positions. This change highlights the fundamental differences between leverage and contract systems [3] - The OKX liquidation heatmap reveals a significant number of vulnerable short positions between $0.0000132 and $0.0000133, illustrating the distinct impacts of leverage and contract functionalities on market dynamics [3] - XBIT decentralized trading platform utilizes advanced risk management algorithms to help users find an optimal balance between leverage and contract tools [3] Group 2: Political Economy and Market Psychology - The political fallout from the Trump-Musk alliance has emerged as a critical variable affecting the cryptocurrency market, influencing investor preferences for leverage and contract tools through market sentiment [4] - Increased uncertainty leads to higher emotional sensitivity in leverage trading, while contract trading offers a more refined risk pricing mechanism, allowing investors to construct robust hedging strategies during market volatility [4] - As SHIB's deflationary pressure increases and address activity rises, market sentiment is transitioning from panic to rationality, reflecting investors' macroeconomic outlook [4] Group 3: Decentralized Financial Infrastructure - XBIT is exploring the integration of biometric technology with blockchain to enhance the security model of derivative trading, utilizing zero-knowledge proof technology and multi-signature transaction architecture [6] - The non-custodial model of XBIT ensures users maintain complete control over their assets, mitigating platform risks while providing enhanced trading privacy [6] - Investors are encouraged to understand the intrinsic logic of various trading tools and align them with their risk preferences and investment goals to achieve sustainable investment success in the evolving cryptocurrency market [6]

多位市场人士向记者表示，铸造铝合金期货及期权的上市，将进一步完善我国有色金属衍生品体系，有 助于形成规范、透明、高效的铸造铝合金定价机制，及时客观反映市场供求和预期变化。同时，其与氧 化铝期货及期权、电解铝期货及期权协同发挥功能作用，有助于提升铝产业"中国价格"的影响力。 （文章来源：期货日报网） 中粮期货上海北外滩营业部副总监李伊瑶告诉记者，再生铝的能耗明显低于电解铝，碳排放极低，是铝 行业碳减排的重要路径。目前，我国部分再生资源未能得到充分利用，期货市场的价格发现功能将引导 再生资源向高效率、高附加值领域流动，推动回收体系规范化、规模化发展。此外，期货合约对交割品 级的要求也将倒逼铝企业提升生产工艺和产品质量，推动行业整体转型升级。 李伊瑶表示，铸造铝合金价格受废铝供应、原铝价格及政策导向等多重因素影响，传统铝产业链企业通 常依赖电解铝期货进行套期保值，但由于再生铝与原铝在成本、供需关系上存在差异，单一工具难以完 全覆盖风险。铸造铝合金期货上市后，产业链企业可以采取"电解铝+再生铝"的复合套保策略，增强自 身的对冲能力，精准管理价格波动风险。 马广玉表示，从再生铝和原铝价格之间的变动关系来看，再生铝与电解 ...

北京中衍律师事务所主任郑乃全在会上发布并解读了《中国金融衍生品争议解决年度观察（2025）》。 他表示，2024年，我国期货衍生品领域多元化的纠纷化解机制得到了进一步完善和优化，除了熟悉的诉 讼、调解、仲裁等争议解决方式外，监管机构还通过行政执法当事人承诺制度、先行赔付等方式化解纠 纷。调诉、调仲对接机制进一步落地，其成效还有待推广和应用。随着期货和衍生品领域的交易纠纷日 益增多，司法机关也对期货和衍生品领域有了更多了解，特别是北京、上海、成渝三大金融专门法院， 通过司法裁判补缺市场规则。此外，国内主要仲裁机构也在积极提供期货和衍生品领域的仲裁服务，充 分发挥仲裁优势， 及时、高效、安全地化解交易纠纷，修复市场主体之间的交易关系，促进金融市场 繁荣稳定发展。 吴亚军表示，中期协积极推动试点工作，与多家仲裁机构签订合作协议，积极支持仲裁机构聘任期货专 业仲裁员，参与仲裁员培训。中期协也在期货经纪合同指引中增加了有关仲裁的条款，为涉及期货纠纷 的仲裁案件办理提供专业的意见和支持。 "北仲作为头部仲裁机构，在境内外享有广泛声誉和重要影响力。下一步，中期协将深化与北仲合作， 加强期货纠纷的信息通报和资源共享，共同推动 ...