专题："业绩为王"时代来了，时隔三年公募绩效迎重大改革！近千名基金经理面临"降薪" 基金行业薪酬改革大潮下，不仅业绩大幅落后的基金经理面临压力，那些管理规模较大、业绩呈现明显 分化的基金经理同样成为关注焦点。Wind数据显示，创金合信基金经理李游目前管理的三只公募基金 近三年表现差异显著。 具体来看，创金合信产业智选A近三年跑输业绩比较基准27.32%，基金规模16.53亿元；创金合信工业 周期精选A近三年跑输业绩比较基准18.07%，规模21.10亿元；而创金合信资源主题A则取得23.53%的超 额收益，规模8.19亿元。三只产品合计管理规模达45.82亿元。 | 数据来源：Wind 截止 | | --- | 至20251211 根据中基协最新指引，基金公司需对管理多只产品的基金经理依据基金规模、管理时长等指标进行加权 考核。李游这种在同一时期出现显著业绩分化的案例，将成为新规下薪酬考核的重要观察样本。 从持仓结构看，李游管理的产品呈现出清晰的主题分野和业绩归因逻辑。 | | 创业合值产业服务A | | 创业合体工业用闭精选A | | 创含合体质测主题A | | | --- | --- | --- | -- ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000070 证券简称：特发信息 公告编号：2025-52 深圳市特发信息股份有限公司董事会第九届二十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 深圳市特发信息股份有限公司（以下简称公司）董事会于2025年12月3日以通讯方式召开第九届二十五 次会议。公司于2025年11月28日以书面方式发出会议通知。应参加表决的董事9人，实际参加表决的董 事9人。会议通知、议案及相关资料已按照规定的时间与方式送达全体董事。本次会议的召开符合《公 司法》、本公司《章程》和《董事会议事规则》。会议对以下议案做出决议： 一、审议通过《关于公司管理层2024年度KPI考核结果的议案》 表决结果：6票赞成、0票反对、0票弃权。 具体授信额度及期限以北京银行股份有限公司深圳分行的最终批复为准。 表决结果：9票赞成、0票反对、0票弃权。 四、审议通过《关于向宁波银行股份有限公司深圳分行申请5亿元授信的议案》 同意公司向宁波银行股份有限公司深圳分行申请授信额度5亿元，担保方式为信用，授信期限1年。 具体授信额 ...

Group 1 - The company held its third temporary board meeting on September 5, 2025, with all nine directors participating in the vote [2] - The board approved the proposal to acquire a 30% stake in Yunnan Tianneng Mining Co., Ltd. through public bidding, aiming to enhance resource security [3][4] - The acquisition is part of a strategy to improve the company's coal resource self-sufficiency in Yunnan, with the mining rights covering an area of 40.24 km² and estimated resources of approximately 136 million tons [4] Group 2 - The board also approved the reappointment of Zhongshun Zhonghuan Accounting Firm as the auditor for the 2025 financial year, following a review by the audit committee [7][26] - The audit firm has a strong track record, with total revenue of approximately 2.17 billion yuan in 2024, and has audited 244 listed companies [17] - The audit fees for 2024 were set at 2.79 million yuan for financial report audits and 900,000 yuan for internal control audits, totaling 3.69 million yuan [24]

Meeting Details - The fifth meeting of the board of directors was held on August 27, 2025, via electronic communication, with all 9 directors participating in the voting process [1] Financial Performance - As of June 30, 2025, the company's undistributed profits amounted to 2,193,731,717.20 yuan, with a distributable profit of 258,557,817.73 yuan for the first half of 2025 [2] - The company plans to distribute a cash dividend of 0.05 yuan per share (tax included) to all shareholders, totaling 25,585,018.20 yuan (tax included) based on 511,700,364 shares eligible for profit distribution [2] - The amount spent on share repurchase during the first half of 2025 accounted for 10.54% of the company's distributable profit and 9.49% of the net profit attributable to shareholders [2] Resolutions Passed - All proposals presented at the board meeting were approved, including the profit distribution plan and risk assessment reports for associated companies [1][3][4][5]

General Principles - The company establishes a Compensation and Assessment Committee to develop and manage the compensation system for directors and senior management, aiming to improve corporate governance [1][2] - The committee's decisions must comply with the company's articles of association and relevant laws; any violation renders the decision invalid [2] Composition of the Committee - The committee consists of three directors, with at least two-thirds being independent directors [4] - The chairperson of the committee is elected from among the independent directors [3] Responsibilities and Authority - The committee is responsible for formulating assessment standards for directors and senior management, reviewing compensation policies, and reporting to the board [6] - The committee must ensure that its actions do not harm the interests of the company and its shareholders [13] Meeting Procedures - The committee must hold at least one regular meeting each fiscal year, with additional meetings called as necessary [8] - Meeting notifications must include essential details such as time, location, and agenda [9] Voting and Decision-Making - A quorum of two-thirds of the committee members is required to hold a meeting, and decisions are made by a majority vote [26][31] - The committee's resolutions must be documented and communicated to the board promptly [40] Performance Assessment - The committee has the authority to track the performance of senior management and request necessary information from relevant departments [50][51] - The committee must maintain confidentiality regarding any non-public information obtained during its assessments [54]

Core Viewpoint - The company has announced the completion of the second unlock period for its 2023 restricted stock incentive plan, allowing 23 eligible participants to unlock a total of 1.0515 million shares, which represents 0.53% of the company's total share capital [1][14]. Summary by Sections Incentive Plan Approval Process - The company held several board and supervisory meetings to approve the 2023 restricted stock incentive plan and its related matters, including the approval of the incentive object list and the management measures for the plan [2][3][4]. Unlock Conditions Achievement - The second unlock period for the restricted stock has been achieved as the company did not encounter any adverse conditions that would prevent the unlocking, such as negative audit opinions or profit distribution issues [9][12]. Performance Assessment - The performance assessment for the unlocking of shares is based on the company's financial performance and individual performance evaluations, with specific targets set for the years 2023 to 2025 [11][12]. Specifics of the Unlocking - The unlocking of shares will take effect on July 22, 2025, with 1.0515 million shares being released from restrictions, impacting the company's share structure by reducing the number of restricted shares and increasing the number of unrestricted shares [14][15]. Changes in Share Structure - Following the unlocking, the number of restricted shares will decrease from 43,676,766 to 42,625,266, while unrestricted shares will increase from 155,352,284 to 156,403,784, maintaining the total share count at 199,029,050 [15][16].

Core Viewpoint - The proposed share transfer of 184 million shares from the controlling shareholder, Dongsu Group, to the Hebei Cangzhou Jiaokong Group has failed after 9 months of planning due to a lack of consensus between the parties involved [1][2][3]. Group 1: Share Transfer Details - Dongsu Group intended to transfer 184 million shares, representing 11.00% of the total share capital of Cangzhou Mingzhu, to Jiaokong Group [2]. - The remaining 123 million shares held by Dongsu Group, accounting for 7.77% of the total share capital, were to have their voting rights fully entrusted to Jiaokong Group until Dongsu Group no longer held shares [2]. - The termination of the share transfer will not impact the company's governance structure or operational strategy [3]. Group 2: Financial Performance - Cangzhou Mingzhu's financial performance has been declining, with a significant drop in net profit by 43.02% year-on-year in the first three quarters of 2024, amounting to 138 million yuan [9]. - The company's gross profit margin has decreased consecutively from 20.86% in 2021 to 11.93% in the first three quarters of 2024 [11][12]. - The company reported a revenue of 1.962 billion yuan in the first three quarters of 2024, a decline of 1.54% compared to the previous year [9]. Group 3: Shareholding and Pledge Status - Dongsu Group holds 314 million shares of Cangzhou Mingzhu, with 242 million shares pledged, resulting in a pledge ratio of 77.09% [13]. - The total amount executed against Dongsu Group has reached 32.9342 million yuan, with the most recent execution occurring in July 2024 for 2.4811 million yuan [15]. - Dongsu Group has been involved in multiple legal disputes, indicating potential financial instability [15].