Core Viewpoint - The article emphasizes the importance of public funds in serving the real economy and protecting investors' rights, highlighting the ongoing reforms and quality development in the public fund industry under the guidance of the "Action Plan for Promoting High-Quality Development of Public Funds" [2][3]. Group 1: Serving the Real Economy - The fundamental purpose of fund management is to serve the real economy and help investors share in the long-term development of the Chinese economy [3]. - The company focuses on both emerging industries and mature industries, conducting in-depth research to identify investment opportunities during different economic phases [3][4]. - The company has strategically positioned its products in various sectors, including innovative technology, new energy vehicles, artificial intelligence, and high-end manufacturing, aligning with the themes of economic transformation and industrial upgrading [3][4]. Group 2: Protecting Investor Returns - The company believes that serving the real economy and creating returns for investors are complementary processes, emphasizing a long-term investment philosophy [5][6]. - Various measures are implemented to protect investor rights, including diverse product designs with different holding periods and optimized fee structures to encourage long-term investment [6][7]. - The assessment mechanism has shifted focus from relative rankings to absolute returns and other performance metrics, ensuring alignment with product positioning [7]. Group 3: Investor Education - Investor education is crucial for helping the public understand the market and invest rationally, with the company actively participating in initiatives to enhance investor education and protection [8][9]. - The company collaborates with media and other institutions to promote investment knowledge, covering topics such as personal retirement planning and asset allocation [8][9]. - Various platforms, including social media, are utilized to disseminate investment knowledge to different customer segments, enhancing awareness of quantitative investment and fund investment [9]. Group 4: Future Outlook - Looking ahead, the company aims to continue its efforts in serving the real economy, enhancing investor returns, and contributing to the high-quality development of the public fund industry [9].

人民财讯9月22日电，中共中国证券监督管理委员会委员会发布关于二十届中央第三轮巡视整改进展情 况的通报，下一步，全面提升风险化解处置和监管执法能力。坚持投融资协调发展，深入推进公募基金 改革，协同各方持续推动各类中长期资金入市和占比提升，加强战略性力量储备和稳市机制建设。突出 依法严惩、依责严防，加快补齐上市公司、行业机构等法规制度短板，统筹扩大检查覆盖面和提升检查 有效性，进一步提高违法违规线索发现能力，完善与相关部委、地方党委政府对第三方配合造假的综合 惩戒协作机制，进一步健全"准入—持续监管—退出"全链条监管体系，更好发挥日常监管的修复纠正功 能和稽查执法的重拳治理效能。出台更多保护投资者合法权益的硬招实招。 ...

2025年9月15日至21日，由国家金融监督管理总局、中国人民银行及中国证监会联合主办的"金融消费者 权益保护教育宣传周"活动在全国范围内正式启动。中国证券投资基金业协会"投资者之家"与新浪财经 投资者教育基地携手，以"保障金融权益 助力美好生活 基金行业在行动"为主题，组织全体会员单位推 出多项创新投教活动，致力于普及金融知识、增强风险防范意识，为投资者权益保护构筑坚实防线。 >>更多详情 本次活动专栏精选了来自协会投资者教育委员会成员机构的10篇优秀防非作品，包括华夏基金、工银瑞 信基金、银华基金、易方达基金和广发基金等单位的投稿。其中，华夏基金推出的反诈短视频《反诈风 暴你AI了吗》，揭示了不法分子利用AI换脸冒充分析师、伪造高收益截图以及推广所谓"AI炒股神 器"并诱导付费培训等诈骗手段；工银瑞信基金的"财守护"系列短视频以动画与情景案例相结合的形 式，系统讲解如何规避理财陷阱、识别培训班退费骗局、辨别冒牌基金公司、警惕"黑嘴大V"非法荐股 及海外暴富骗局等内容，全面助力投资者守护财富安全。 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 此外，长城基金走进社区国防科普展，结合"国防教育 ...

Core Insights - The "2024 Annual Report on Investor Relations Work of Listed Companies" was publicly released on August 27, marking a significant research achievement in the field of investor relations in the capital market [1][25] - The report was jointly compiled by multiple organizations, including the China Securities Investor Services Center and the Capital Market Academy, with support from various stock exchanges and associations [1][25] - This year's report is based on extensive research covering 4,000 listed companies, 88 public fund management institutions, 87 securities companies, and 53,265 individual investors, making it one of the most authoritative studies in the field [1][26] Group 1 - The report's release was attended by key representatives from various organizations, emphasizing the collaborative effort in promoting investor relations and protecting investor rights [2][4] - The Shanghai Stock Exchange highlighted the importance of investor relations management in protecting investors' rights and promoting high-quality development of listed companies [4][5] - The Shenzhen Stock Exchange focused on improving information disclosure quality and enhancing communication between listed companies and investors [5][10] Group 2 - The Beijing Stock Exchange reiterated its commitment to protecting investors' rights, particularly for small and medium investors, and improving the quality of listed companies [7][10] - The China Listed Companies Association noted that the past year has seen significant improvements in investor relations work, with 75% of listed companies reporting profitability and a total dividend payout exceeding 2.3 trillion yuan [10][12] - The report provides constructive suggestions for improving investor relations and emphasizes the need for a robust relationship between listed companies and investors [12][23] Group 3 - The report reflects a positive shift in investor relations practices since the implementation of new guidelines, with 96% of companies reporting improvements [23][25] - The academic support from Peking University’s HSBC Business School underscores the importance of effective investor relations in the capital market [18][20] - The report serves as a valuable reference for enhancing investor relations management and fostering high-quality development in the capital market [18][21]

Core Viewpoint - The China Banking and Insurance Regulatory Commission (CBIRC) has released a draft of the "Internal Control Management Measures for Wealth Management Companies" to enhance compliance and sustainable operations in the wealth management sector [1][2]. Group 1: Regulatory Framework - The new measures aim to establish a unified internal control standard for wealth management companies, enhancing compliance awareness and investor protection mechanisms [2][3]. - Since the implementation of the "Guiding Opinions on Regulating Financial Institutions' Asset Management Business," the asset management system in China has become increasingly refined, leading to a more stable operation of asset management institutions [2][3]. Group 2: Internal Control Requirements - The draft outlines comprehensive requirements for internal control systems, including organizational structure, control activities, and supervision, which are crucial for fostering a scientific and prudent investment philosophy [2][4]. - The internal control system is deemed the core framework for asset management institutions, essential for risk prevention and governance improvement [4][5]. Group 3: Risk Management - The measures emphasize the need for wealth management companies to establish risk isolation mechanisms to prevent the spread of financial risks across different institutions [5][6]. - Effective risk management is critical, especially as wealth management products transition to net value-based models, requiring companies to balance returns and volatility [4][5]. Group 4: Investor Protection - The draft highlights the importance of protecting investors' rights, necessitating the establishment of complaint handling mechanisms and conflict of interest prevention systems [6][7]. - With the growing number of investors in the wealth management market, the need for robust institutional safeguards to protect their interests is increasingly vital [6][7]. Group 5: Future Directions - The industry is encouraged to enhance regulatory frameworks and promote structural reforms to ensure sustainable and high-quality development of asset management institutions [5][8]. - There is a call for improved governance mechanisms that prioritize investor interests over shareholder benefits, particularly in scenarios where conflicts arise [7][8].

上海明伦律师事务所王智斌律师在接受《证券日报》记者采访时表示："当前，资本市场已经形成了行 政、刑事、民事立体追责，以保护投资者。通过提升违法成本，强化对财务造假等行为的查处力度，不 仅为后续投资者维权提供了基础，也可以净化资本市场生态。" 工信部信息通信经济专家委员会委员盘和林告诉《证券日报》记者："投资者的合法权益受到侵害时要 积极维护自身权益，监管部门也鼓励投资者通过诉讼实践，对各类违法责任主体追究民事赔偿责任。而 上市公司因为实际控制人、高管的违法违规行为受到损失的，可以依法向相关责任人追偿。" 此外，根据告知书认定的情况，公司披露的年度报告财务指标存在虚假记载，公司股票将被叠加实施其 他风险警示。 12月29日，苏州恒久光电科技股份有限公司（以下简称"ST恒久"）发布多个公告，公司被立案调 查之事有了最新进展。 根据中国证监会的查证，公司在2019年至2021年，连续3年有4期定期报告虚假记载，公司及相关责 任人被处罚，其中，ST恒久的控股股东、实际控制人余荣清拟被采取5年市场禁入措施。公司股票被叠 加实施其他风险警示。 同一天，ST恒久还因未就对外财务资助事项及时履行信息披露和监督管理义务、光导鼓 ...

Core Insights - The Financial Regulatory Authority is drafting a new regulation to standardize information disclosure for asset management trust products, aiming to enhance investor protection and unify regulatory standards across similar financial products [1][2]. Group 1: Regulatory Changes - The new regulation, titled "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions (Draft for Comments)," is designed to address inconsistencies in information disclosure across different asset management products [1][2]. - The regulation aims to strengthen the protection of investors' rights by ensuring they have access to comprehensive and detailed product information, thereby fulfilling the fiduciary duty of asset management institutions [2][3]. Group 2: Industry Impact - The introduction of standardized information disclosure is expected to enhance transparency, allowing investors to better understand the operation, risk status, and management of trust products, thus reducing information asymmetry [3][4]. - By improving information disclosure practices, the regulation is anticipated to bolster market confidence, protect investor rights, and promote the long-term healthy development of the trust industry [3][5]. Group 3: Investor Protection Measures - A multi-dimensional investor protection system is being established, which includes breaking the rigid payment structure, regulating shareholder behavior, optimizing corporate governance, and refining risk prevention measures [5][6]. - The regulatory framework emphasizes the importance of compliance and governance within trust companies, mandating the establishment of compliance management systems and the appointment of chief compliance officers [6][7].

Core Viewpoint - The participation experience of small shareholders in annual general meetings (AGMs) is increasingly problematic, with many facing barriers to entry and a lack of meaningful engagement during the meetings [1][2][3]. Group 1: Barriers to Participation - Small shareholders often encounter difficulties in registering for AGMs, with issues such as non-functional email addresses and lack of response from company representatives [2]. - Some companies have been reported to deny entry to shareholders based on unregistered attendance, which contradicts regulations that state all registered shareholders have the right to attend [2][3]. - The reluctance of small shareholders to participate is exacerbated by the additional obstacles set by companies, further diminishing their involvement in corporate governance [3]. Group 2: Meeting Procedures and Engagement - Many AGMs are criticized for being poorly organized, with key executives absent and minimal opportunities for shareholder interaction [4][5]. - The recent regulatory changes regarding the attendance of directors and executives at AGMs have not led to improved engagement, as many companies still treat these meetings as mere formalities [4][5]. - Some companies have been found to limit or completely avoid interactive sessions, opting instead for private meetings with shareholders, which undermines the purpose of the AGMs [6][10]. Group 3: Disclosure of Voting Results - There is a notable trend of companies failing to disclose voting results during the AGMs, instead directing shareholders to check announcements later, which violates existing regulations [7][8]. - The practice of not allowing shareholder representatives to participate in the counting and monitoring of votes raises concerns about the transparency and credibility of the voting process [8][9]. Group 4: Recommendations for Improvement - Companies are urged to eliminate barriers to participation and enhance the AGM process to ensure meaningful engagement with all shareholders [9][10]. - Regulatory bodies should enforce compliance with participation rules and address companies that consistently fail to engage small shareholders [9]. - Small shareholders are encouraged to actively exercise their rights and participate in AGMs to ensure their voices are heard [10].

Core Viewpoint - The incident involving the controlling shareholder of Lingpai Technology, Hunan Hengpa Power Partnership, highlights significant governance issues and poses risks to market confidence and the protection of minority investors' rights [2][3][4] Group 1: Incident Details - On June 30, Lingpai Technology announced that its controlling shareholder, Hunan Hengpa Power Partnership, received a warning letter from the Hunan Securities Regulatory Bureau for illegal share reduction [2] - Hengpa Power reduced its holdings by 848,800 shares, decreasing its ownership from 35.43% to 34.94%, violating regulations by not halting trading when its ownership approached the critical 35% threshold [2] - Despite taking remedial actions by repurchasing some shares, the regulatory body still issued a warning and recorded the incident in the securities market integrity archive [2] Group 2: Impact on Lingpai Technology - The incident poses a severe challenge for Lingpai Technology, which operates in the competitive electric vehicle battery and energy storage sector, damaging market fairness and the company's image [3] - The company emphasized the need for shareholders to enhance compliance awareness and adhere strictly to regulations, asserting that the regulatory measures would not affect its normal operations [3] - Lingpai Technology must strengthen internal governance and improve oversight of shareholder actions to prevent similar incidents in the future [3][4] Group 3: Regulatory Response and Recommendations - The warning letter from the Hunan Securities Regulatory Bureau reflects a strict stance against violations by major shareholders, aiming to protect investor rights and maintain market order [4] - Lingpai Technology is advised to reinforce compliance awareness, enhance internal governance structures, and impose stricter constraints on shareholder behavior [4] - The company should also adapt to market changes, optimize its business layout, control costs, and improve product competitiveness to rebuild investor confidence and safeguard long-term interests [4]

Core Viewpoint - The implementation of a suspension warning mechanism in the stock market serves as a protective measure for investors, allowing them to reassess their investment decisions during periods of abnormal price fluctuations [1][2][3]. Group 1: Investor Protection - The suspension warning provides investors with a crucial period to think calmly, helping them avoid the risks associated with irrational market behavior [1][3]. - This mechanism encourages investors to focus on the underlying fundamentals of companies and industry prospects rather than being swayed by market emotions [1][2]. Group 2: Market Stability - The suspension warning mechanism contributes to maintaining market stability and healthy development by preventing excessive speculation and resource misallocation [2][3]. - Regulatory authorities can use this mechanism to identify and address issues such as insider trading and market manipulation, thereby promoting fairness and efficiency in the market [2][3]. Group 3: Future Improvements - There is a call for further enhancement of the suspension warning mechanism and accompanying regulatory measures to create a safer and more efficient capital market environment [3]. - Emphasis is placed on the need for increased risk education for retail investors to improve their awareness and investment capabilities [2].