丨证券研究报告丨 行业研究丨行业周报丨投资银行业与经纪业 [Table_Title] 政策引导行业规范发展，建议重视板块绩优个股 报告要点 [Table_Summary] 本周非银板块整体表现较弱。券商方面，本周证监会发布《私募投资基金信息披露监督管理办 法》，提高私募基金运作透明度，保护投资者合法权益。此外，市场交投有所回升，整体仍维 持历史高位，建议关注板块绩优个股；保险方面，中长期来看三季报以来印证了存款搬家、增 配权益和新单成本改善逻辑，中长期 ROE 改善确定性进一步提升，估值有望加速修复，健康 慢牛下建议积极增配保险。 分析师及联系人 [Table_Author] SFC：BUV596 吴一凡 谢宇尘 程泽宇 SAC：S0490519080007 SAC：S0490521020001 SAC：S0490524090001 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 投资银行业与经纪业 cjzqdt11111 [Table_Title 政策引导行业规范发展，建议重视板块绩优个 2] 股 [Table_Summary2] 核心观点 1）本周非银板块整 ...

证券研究报告——市场日报 沪指低开高走 三大指数走势分化 证券研究报告——市场日报 2026.02.27 （预计发布时间：2026.02.28） 分析师：景剑文 执业证书编号：S0770523090001 邮箱：jingjw@dtsbc.com.cn 地址：山西太原长治路 111 号山西世贸中心 A 座 F12、F13 网址: http://www.dtsbc.com.cn 行情回顾 周五（2 月 27 日），三大指数早盘低开， 之后走势分化，沪深两指震荡攀升，沪指午后 翻红，深指跌幅收窄，创指全天弱势震荡。截 至收盘，上证指数（+0.39%）收报 4162.88 点， 深证成指（-0.06%）收报 14495.09 点，创业 板指（-1.04%）收报 3310.30 点。两市量能小 幅回落，跌破 2.5 万亿（数据来源：Wind）。 申万Ⅰ级行业多数上涨，钢铁、煤炭、有色金 属领涨，建筑材料、通信、电子领跌。 风险提示 热门板块突发利空引发市场扰动 当日要闻 大同证券研究中心 央行：将远期售汇业务的外汇风险准备金率从 20%下调至 0。为促进外汇市场发展，支持企 业管理好汇率风险，中国人民银行决定自 202 ...

投资界2月28日消息，近日，证监会发布《私募投资基金信息披露监督管理办法》（以下简称《信息披露办法》），自2026年9月1日起施行。证监会表示， 该办法压实私募基金管理人、私募基金托管人信息披露责任，规范私募基金信息披露行为，有利于提高私募基金运作透明度，保护投资者合法权益。 据悉，《信息披露办法》进一步明确私募基金托管人的信息披露责任，托管人应当履行与私募基金托管业务有关的信息披露职责，包括披露基金托管协议， 定期出具基金托管人报告、对私募证券投资基金财务情况等信息及时进行复核审查并出具意见等；明确私募基金销售机构信息披露职责，销售机构接受委托 披露私募基金信息的，应当按照规定和约定真实、准确、完整、及时地向投资者披露信息，不得对管理人提供的信息进行篡改；明确相关关联方配合信息披 露义务，主动向私募基金管理人告知其与私募基金信息披露相关的事项，包括私募基金管理人的股东、合伙人、实际控制人等。 以下为《私募投资基金信息披露监督管理办法》原文： 第八条 私募基金管理人应当按照基金合同约定的信息披露 内容、渠道、方式、频率等,向投资者披露私募基金信息,并明 确投资者就信息披露事项进行咨询的联络方式,以及私募基金管 ...

Group 1 - The China Securities Regulatory Commission (CSRC) has released the "Supervision and Management Measures for Information Disclosure of Private Investment Funds" [1] - Several A-share listed companies have disclosed their 2025 performance, with Cambrian's net profit reaching 2.059 billion yuan, marking a turnaround from loss to profit [1] - Two A-share listed companies have announced their profit distribution plans for 2025, with Shunluo Electronics proposing a cash dividend of 8 yuan for every 10 shares, and Demingli proposing a cash dividend of 4 yuan for every 10 shares [1] Group 2 - The National Bureau of Statistics has published the 2025 National Economic and Social Development Statistical Bulletin today [1] - The China Council for the Promotion of International Trade will hold a routine press conference at 10 AM to discuss the preparations for the fourth Chain Expo and promote cooperation between Chinese and German, as well as Chinese and American business communities [1] - Laopu Gold is adjusting its product prices today [1]

Group 1 - The China Securities Investment Fund Association (CSRC) issued a disciplinary decision against Shanghai Xingze Investment Management Co., Ltd. on December 31, 2025 [2] - Shanghai Xingze was found to have violated regulations by failing to fully disclose significant information affecting investor interests and inadequately fulfilling the obligation to confirm qualified investors [3] - The fund "Shanghai Xingze Xinghe Venture Capital Center (Limited Partnership)" was established in March 2017, and in January 2018, it was revealed that certain shareholders had invested in a technology company, but critical relationships were not disclosed [3][4] Group 2 - Shanghai Xingze did not disclose that its actual controller and legal representative, Liu Wenyi, is married to a committee member, which is a significant relationship affecting investment decisions [4] - There were also issues with some investors not meeting the minimum net asset requirement of 10 million yuan, violating regulations [4] - The CSRC emphasized that the familial relationship between Liu Wenyi and the technology company's shareholders should have been fully disclosed, and the defense provided by Shanghai Xingze regarding public knowledge of the relationship was insufficient [4][5]