张大伟 制图 ● 《国务院关于规范中介机构为公司公开发行股票提供服务的规定》明确禁止按发行规模递增收费，推 动IPO项目计价方式变革 ● 新规实施一年来，IPO项目的收费方案呈现前所未有的多样性与复杂性，"风险共担"与"服务对价"成 为核心原则 ● 在多位投行从业人员看来，IPO业务收费与规模脱钩，意味着投行不能再通过"IPO成功"或"超大规模 募资"获取更多的超额收益，须通过尽调、辅导、定价等过程服务赢得合理报酬 ◎刘禹希 记者 徐蔚 上海证券报记者获悉，中国证券业协会近日向券商下发了《关于2025年度证券公司廉洁从业和投行业务 收费自律检查情况的通报》。通报称，投行业务收费制度机制有待加强，部分公司存在持续督导费用约 定不明、收费信息报送滞后、内部收费制度更新不及时等问题。 此次通报适逢IPO收费新规落地一年。2025年2月15日，《国务院关于规范中介机构为公司公开发行股 票提供服务的规定》正式施行，明确禁止按发行规模递增收费，推动IPO项目计价方式变革。这一年 间，非线性收费模式渐成主流，投行的角色正从传统的"发行通道"向深度"服务伙伴"转型。 投行收费告别"规模崇拜" 曾经与募资规模线性挂钩的收费模式 ...

Core Viewpoint - Yantai City has made significant progress in promoting employment for college graduates during the "14th Five-Year Plan" period, focusing on expanding employment scale, optimizing talent structure, enhancing policy effectiveness, and improving service levels [2][3]. Group 1: Employment Scale and Structure - The total urban employment in Yantai has exceeded 530,000 during the "14th Five-Year Plan," with 315,000 college graduates finding employment or starting businesses in the city, maintaining over 60% of the total employment [2]. - The number of graduates staying in Yantai has shown a yearly growth rate of 6.1%, with 31,000 master's and doctoral graduates making up 11.7% of the total, reflecting a 15.6% annual growth rate [2]. Group 2: Policy Effectiveness - A series of policies have been implemented to support college graduate employment, including the release of the Talent New Policy 3.0, which has created a comprehensive support system covering employment assistance, housing security, and entrepreneurial empowerment [2]. - A total of 2.139 billion yuan has been allocated for housing and living subsidies, while 62 million yuan has been distributed for job expansion and social security subsidies, benefiting 136,200 graduates [2]. Group 3: Service Improvement - Yantai has established over 30 career guidance and employment entrepreneurship workstations, conducting more than 3,600 recruitment events and posting over 1.8 million job openings, significantly enhancing the efficiency of graduate employment services [2][3]. Group 4: Targeted Employment Strategies - The city focuses on three key groups to create a comprehensive employment service system, implementing differentiated strategies to meet diverse needs and retain local graduates [3]. - Yantai has established 26 talent recruitment stations and organized over 200 events to attract graduates from key universities, aiming to bring in fresh talent [3]. Group 5: Industry and Talent Integration - Yantai aligns graduate employment with the development needs of its key industries, implementing plans to expand employment and regularly publishing talent demand directories [4]. - The city has upgraded its public recruitment platform to facilitate intelligent matching of job demands and talent skills, enhancing industry-talent collaboration [4]. Group 6: Comprehensive Employment Support - Yantai has developed a supportive system for graduates, including social insurance subsidies and entrepreneurial support, to create a conducive environment for youth employment [5]. - The city has issued 7.3 billion yuan in entrepreneurial guarantee loans and provided vocational training for over 100,000 graduates, fostering their entrepreneurial aspirations [5].

Core Viewpoint - The Wuxi Guolian Group has officially launched the Guolian Group Ecological Alliance, aiming to create a collaborative ecosystem driven by capital, industry synergy, and service empowerment, involving major companies and institutions like Huawei and AstraZeneca [1] Investment and Projects - In 2025, Guolian Group completed 394 investment projects with a total investment scale of 62 billion yuan, focusing on sectors such as biomedicine, integrated circuits, advanced manufacturing, dual carbon energy saving, and artificial intelligence [1] - The group established 89 new funds with a total scale of 34.2 billion yuan and attracted 28 projects to settle in Wuxi, with a total investment scale of 17.8 billion yuan [1]