"以前大家参与打新可能不会看得特别细，在合规方面对部分细节会有所疏忽。新规出台后，网下打新监管有所趋 严，如果在这方面合规没有及时跟上，就很容易吃到罚单。除了中证协，交易所也在加强这方面监管。"有私募人士 向记者表示。 公开信息显示，宁泉资产旗下多只产品积极参与打新。宁泉致远55号最近一次曾出现在5月28日优优绿能的网下发行 初步配售结果公告中，以B类"投资者"身份出现在配售名单。但此后多只新股的发行公告中，就没有再看到这只产品 的身影。 券商中国记者发现，今年以来，已有3家机构和2名自然人被中证协列入网下投资者限制名单，违规问题主要集中在未 审慎报价、新股网下询价业务操作流程不完备、新股网下询价业务风险管理制度不完善、重要操作履行复核机制不到 位等。 | | | | | 网下投资者限制名单 | | | | --- | --- | --- | --- | --- | --- | --- | | | 序号 网下投资者代码 | 网下投资者名称 | 起始日期 | 截止日期 | 公告批次 | 签发时间 | | | bj015 | 广发证券股份有限公司 | 2024年9月14日 | 2025年9月13日 | 首次公开发 ...

券商中国记者从中国证券业协会（简称中证协）获悉，知名私募宁泉资产旗下"宁泉致远55号私募证券投资基金"被限制参 与网下打新业务，限制时间为6个月（2025年6月20日—2025年12月19日）。 | 配售对象不得参与业务名单 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 起始日期 | 截止日期 | 序号 配售对象编码 配售对象 | 2025/2/20 | 2025/8/19 | 赤千里 | gsrdj00000 | | ] | | | | | | | | 宁泉致远55 | 2025/12/19 | 号私募证券 2025/6/20 | tj1bj00036 | | | | | 2. | | | | | | | | 投资基金 | | | | | | | 责编：杨喻程 排版：刘珺宇 校对： 王蔚 百万用户都在看 A股，三大利好来袭！ 中证协网站显示，前述宁泉资产产品已被列入"配售对象不得参与业务名单"，具体原因并未对外公布。 宁泉资产全称"上海宁泉资产管理有限公司"，由资管大佬杨东在2018年1月创立，公司注册资本金2000万元。公开信息显示 ...

Core Insights - The article highlights the significant milestone achieved by Everbright Wealth Management, which has successfully entered the A-class investor category, allowing it to participate directly in offline IPO subscriptions, marking a shift from a supporting role to a leading role in the capital market [1][3]. Group 1: Industry Developments - Everbright Wealth Management participated in the offline IPO of Shandong Xintong Electronics Co., Ltd. at a subscription price of 17 yuan per share, becoming the first bank wealth management subsidiary to do so as an A-class investor [1][2]. - The participation of bank wealth management in the capital market is accelerating, with several subsidiaries actively engaging in IPO allocations, indicating a new trend of deepening capital market investments [1][2][6]. - The shift to A-class investor status allows bank wealth management products to enjoy the same preferential treatment as public funds, enhancing the allocation of new shares and potentially increasing product returns [2][3]. Group 2: Policy and Regulatory Changes - Recent policy changes have facilitated the entry of bank wealth management into the A-class investor category, driven by the need to boost capital market participation from long-term funds [3][4]. - The China Securities Regulatory Commission (CSRC) has amended regulations to include bank wealth management products as priority allocation objects for IPOs, aligning them with public funds in terms of policy treatment [4][5]. Group 3: Future Outlook - Bank wealth management is expected to continue increasing its participation in offline IPOs while enhancing its research and analysis capabilities in equity investments [2][5]. - The industry is exploring diversified investment strategies, with a focus on equity assets, as traditional fixed-income returns are under pressure due to low interest rates [5][6]. - Reports indicate that as of the end of 2024, the total investment assets of wealth management products will reach 32.13 trillion yuan, with equity assets only accounting for 2.58%, suggesting significant room for growth in this area [5].

2025 年 7 月 2 日 晨会速递 分析师点评 市场数据 总量研究 【金工】新股发行节奏提速，网下打新热度提升——打新市场跟踪月报 20250701 | 外汇市场 | | | | --- | --- | --- | | 中间价 | | 涨跌 | | 美元兑人民币 | 7.1534 | -0.07 | | 欧元兑人民币 | 8.4305 | 0.33 | | 日元兑人民币 | 0.0497 | 0.21 | | 港币兑人民币 | 0.9113 | -0.07 | | 利率市场 | | | | --- | --- | --- | | 回购市场 前加权平均利率% | | 涨跌 BP | | DR001 | 1.3673 | -14.29 | | DR007 | 1.5457 | -37.02 | | DR014 | 1.6194 | -27 | | 二级市场 | YTM% | 涨跌 BP | | 一年期国债 | 1.3377 | -0.25 | | 五年期国债 | 1.5075 | -0.54 | | 十年期国债 | 1.6433 | -0.36 | 数据来源：Wind, Bloomberg 2025 年 6 ...

Group 1: Fiscal Data - In the first five months, the national general public budget revenue reached 96,623 billion yuan, a year-on-year decrease of 0.3% [1] - Tax revenue was 79,156 billion yuan, down 1.6% year-on-year, while non-tax revenue increased by 6.2% to 17,467 billion yuan [1] - The securities transaction stamp duty amounted to 668 billion yuan, showing a significant year-on-year growth of 52.4% [1] Group 2: Banking and Finance - The People's Bank of China announced the first batch of institutions participating in the cross-border payment system, including major banks from both mainland China and Hong Kong [2] - Everbright Wealth became the first bank wealth management company to participate in offline IPO subscriptions, successfully bidding for shares in Xintong Electronics [2] - Everbright Wealth's mixed product "Sunshine Orange Absolute Return Strategy" was used for the subscription, indicating a growing trend in bank wealth management participation in equity markets [2] Group 3: Robotics Industry - IDC forecasts that the commercial sales volume of humanoid robots in China will reach nearly 60,000 units by 2030, with a compound annual growth rate of 95.3% [2] - The market is experiencing strong growth, with an estimated 2,000 units expected to be sold in 2024 [2] Group 4: Gaming Industry - In May 2025, China's gaming market size reached 28.051 billion yuan, reflecting a year-on-year growth of 9.86% [3] - The mobile gaming market contributed significantly, with a size of 21.177 billion yuan, up 11.96% year-on-year [3] - The actual sales revenue of self-developed games in overseas markets was 1.577 billion USD, marking a year-on-year increase of 6.93% [3] Group 5: Wine Industry - The wholesale reference price for 2025 Feitian Moutai has dropped to 1,900 yuan per bottle, indicating a decline in market prices [4] - Wuliangye announced a record high dividend payout of 22.3 billion yuan for 2024, with a dividend rate of 70% [5][6] Group 6: Semiconductor Industry - The global semiconductor foundry market is witnessing a shift, with SMIC rapidly closing the gap with Samsung Electronics [6] - SMIC's market share has risen to 6%, while Samsung's has decreased to 7.7%, highlighting a competitive landscape [6] Group 7: Logistics and Technology - Ele.me reported that a logistics supervisor was suspected of job-related crimes and has been reported to the police [7] - Yushu Technology completed a C-round financing of approximately 700 million yuan, with plans for an IPO primarily in the A-share market [7] Group 8: Construction Industry - China Power Construction Company signed new contracts worth 474 billion yuan in the first five months, a decrease of 0.93% year-on-year [8] Group 9: Stock Repurchase - Kailong High-tech received a commitment letter for a stock repurchase loan of 25 million yuan from China Everbright Bank [9] Group 10: Regulatory Actions - ST Aowei received an administrative supervision decision from the China Securities Regulatory Commission for inaccuracies in financial disclosures [10][11] Group 11: Renewable Energy - Guosheng Technology signed a sales contract for photovoltaic components worth 1.043 billion yuan with China General Nuclear Power Group [12]

又是自动扣钱的一天。 成交5500亿，中位数下跌1.6%，科创板和创业板持续下跌，银行为主的红利板块逆势上涨，差不多就是过去一年来行情的缩影。 有些仓位占比低的，现在都低头装死，不看账户了。还有些重仓甚至加杠杆的，最近每一天过的都极度煎熬，生活的希望和整个人的精气神都随着大盘逐 渐泯灭。 有很多网友留言问这么跌跌到啥时候是个头，具体位置我也不知道，但见底之前通常会有一波恐慌加速，等啥时候开始加速，跌的市场哭爹喊娘，鬼哭狼 嚎，那就是在加速赶底了。 国家队这几天都在边打边退，逐级抵抗，看到这会大家应该都明白了，它们其实也没想过非要把大盘拉起来，它们的交易目的就是做好下降缓冲，让下跌 放缓，避免暴跌对金融系统的风险。 其实房市也是这个思路，短时间内不可能把房价拉起来，那能做的就是让房价的跌速放缓，同时不停的出政策刺激成交，尽可能的达成换手。房价从100 跌到60，可能会导致断供坏账，但如果让这个人扛不住了，在80卖出去，后面的一半让另一个人接手，则痛苦和风险都被分散化解。 股市的杠杆没有房市那么普遍，最新的融资余额是14000万亿左右，只要别杀跌太快，市场自己会慢慢卸载的。 …… 今天看到一个数据，目前跌破2月份 ...