ESG政策 中央发文加强全国碳市场建设 8月25日，《中共中央办公厅国务院办公厅关于推进绿色低碳转型加强全国碳市场建设的意见》(以下简 称《意见》)正式对外公布，旨在推动建设更加有效、更有活力、更具国际影响力的全国碳市场。《意 见》提出，到2027年，实现全国碳市场基本覆盖工业领域主要排放行业，全国温室气体自愿减排交易市 场实现重点领域全覆盖两项主要目标。 点评：《意见》的出台标志着中国碳市场建设进入系统性深化阶段，凸显国家以市场化机制推动工业减 排的坚定决心。扩大行业覆盖与自愿减排交易范围，有助于提升碳定价效率与国际话语权。ESG投资 毕马威中国：越来越多的企业将ESG作为业务增长新引擎 5亿元规模的ESG绿色独角兽产业基金签约 8月27日，由新建元集团与毅峰资本(Innoven Capital)共同发起的ESG(环境、社会和公司治理)绿色独角 兽产业基金签约仪式在新建元零碳馆顺利举行。该基金规模达5亿元人民币，将以ESG为导向，聚焦智 能制造、工业母机、人工智能、新能源等前沿领域，围绕高成长企业及产业上下游优质投资标的，以可 转债、股权、认股权等多样化投资方式，为企业全球化发展之路提供有力支撑。 点评：通 ...

《财经》新媒体 文丨蒋金丽 编辑丨蒋诗舟 又有公募迎来重大高管变动。 8月29日晚间，诺德基金发布公告称，公司董事长潘福祥因到龄正式退休，继任者为郑成武。 郑成武"接棒"潘福祥 作为诺德基金的创始元老，潘福祥自2006年起历任公司副总经理、总经理，并于2015年升任董事长，担任诺德高管的时间超过19年。 潘福祥被誉为"进入证券业最早的投资学老师，教授投资学时间最长的证券从业者之一"。他自1991年起便担任清华大学经济管理学院客座教授，2004年参与 组建诺德基金，将学术理论转化为投资实践。 此次卸任系其在超期任职一年后功成身退。诺德基金也在公告中对潘福祥任职期间为公司长期稳健发展做出的积极贡献表示衷心感谢。 诺德基金同时在公告中官宣了新任董事长人选——现任天府清源控股有限公司党委副书记、副董事长、总经理郑成武。 郑成武的过往履历中，同样具备"清华系"背景。 1995年8月至1999年5月，他任职于北京清华大学企业集团，历任项目经理、办公室副主任、董事会秘书；1999年6月至2005年12月，他任职于北京清华通力 机电设备有限公司，担任党总支书记、副董事长、总经理。 2005年12月至2008年3月，郑成武任职 ...

Core Viewpoint - Nord Fund announced a leadership change with the retirement of Chairman Pan Fuxiang due to reaching the legal retirement age, and Zheng Chengwu has been appointed as the new chairman effective immediately [1][4][15]. Group 1: Leadership Change - Pan Fuxiang has served as a key leader since the establishment of Nord Fund in 2006, holding various positions including Vice General Manager and General Manager, and has been Chairman since 2015, completing over 19 years of service [4][6]. - Zheng Chengwu, the new chairman, has extensive management experience and a strong industry background, having held significant positions in Tsinghua-related enterprises since 1995 [9][15]. Group 2: Company Growth and Performance - Under Pan Fuxiang's leadership, Nord Fund's asset management scale grew significantly from 1.72 billion yuan at the end of 2015 to 34.606 billion yuan by the second quarter of 2025, with the number of public funds increasing from 9 to 44 [6][15]. - The current product structure includes 44 public funds across various types, with bond funds dominating at 22.231 billion yuan, followed by money market funds at 6.9 billion yuan and mixed funds at 4.883 billion yuan [9][15]. Group 3: Investment Performance - Nord Fund has demonstrated stable long-term investment capabilities, achieving a total return rate of 110.80% and an annualized return of 4.14%, outperforming the performance benchmark [10][15]. - The fund's performance over the past year is 11.62%, and over the past two years, it is 5.45%, indicating resilience in a complex market environment [10]. Group 4: Management Team - The fund currently has 18 fund managers with an average tenure of 7.63 years, significantly exceeding the industry average of 4.94 years, which contributes to refined investment decision-making [12][15].

8月29日，华泰证券发布的2025年半年度报告显示，华泰柏瑞基金2025年上半年实现净利润2.04亿元， 同比下滑36.16%；上半年营业收入为9.52亿元，同比下降5%。（智通财经记者 丁欣晴） ...

Core Viewpoint - The report provides a comprehensive overview of the performance and management of the Guangfa Juyuan Bond Fund (LOF) for the first half of 2025, highlighting its investment strategy, financial performance, and compliance with regulations [1][10][12]. Fund Overview - Fund Name: Guangfa Juyuan Bond Fund (LOF) - Fund Manager: Guangfa Fund Management Co., Ltd. - Fund Custodian: Agricultural Bank of China Co., Ltd. - Total Fund Shares at Reporting Period End: 12,822,007,459.38 shares [2][4]. Investment Strategy - The fund primarily invests in fixed-income securities and does not engage in direct stock purchases or initial public offerings. The investment strategy involves comprehensive analysis of macroeconomic conditions, interest rate trends, and credit risks to optimize the bond portfolio [2][12]. Financial Performance - For the reporting period (January 1, 2025, to June 30, 2025): - Realized Income: - Class A: 63,388,704.71 CNY - Class B: 168,333,682.59 CNY - Class C: 8,174,702.29 CNY - Profit: - Class A: 20,800,429.93 CNY - Class B: 51,968,608.72 CNY - Class C: 530,390.56 CNY - Net Asset Value at Period End: - Class A: 4,503,643,502.30 CNY - Class B: 10,447,663,002.99 CNY - Class C: 455,766,105.57 CNY [4][12][16]. Performance Metrics - Net Value Growth Rate for the reporting period: - Class A: 0.59% - Class B: 0.59% - Class C: 0.39% - Cumulative Net Value Growth Rate: - Class A: 53.64% - Class B: 9.12% - Class C: 46.44% [5][12]. Market Conditions - The bond market experienced increased volatility in the first half of 2025, with short-term interest rates rising initially, followed by a correction in long-term rates. The market showed signs of recovery by the end of June, influenced by U.S. tariffs and central bank liquidity measures [11][12]. Compliance and Governance - The fund management strictly adheres to relevant laws and regulations, ensuring that all operations are compliant and that the interests of fund shareholders are protected. The investment decision-making process is supported by a robust internal control system [10][15].

Core Viewpoint - The company, 时计宝 (02033), has entered into a subscription agreement with KKR Associates Asia Tactical Credit GP SCSp to invest a total of $10 million in KKR Fund II, aiming to enhance capital returns and explore investment opportunities in the Asia-Pacific region [1] Investment Strategy - KKR Fund II focuses on building a diversified investment portfolio, targeting high-conviction, core, and event-driven sectors and companies [1] - The fund primarily invests in various types of credit, including but not limited to high-yield bonds, term loans, self-originated loans, and structured products [1] - KKR Fund II employs a strict capital allocation strategy that emphasizes cross-regional and cross-industry investments to provide attractive risk-adjusted returns [1] Company Background - The company primarily engages in watch manufacturing, retail, and e-commerce in China [1] - The subscription agreement is seen as a prudent way for the company to allocate its idle funds effectively, thereby improving overall capital returns [1] - Participation in a professionally managed fund structure is expected to reduce direct investment risks while providing access to investment opportunities in the Asia-Pacific market [1]

Group 1 - The company, 时计宝 (02033), has entered into a subscription agreement with KKR Associates Asia Tactical Credit GP SCSp to invest a total of $10 million in KKR Fund II [1] - KKR Fund II aims to build a diversified investment portfolio focusing on high-conviction, core, and event-driven sectors, targeting attractive and liquid credit opportunities in the Asia-Pacific region [1] - The fund primarily invests in various types of credit, including but not limited to high-yield bonds, term loans, self-originated loans, and structured products, employing a strict capital allocation strategy across regions and industries to provide attractive risk-adjusted returns [1] Group 2 - The company is primarily engaged in watch manufacturing, retail, and e-commerce in China [1] - The board believes that the subscription will allow the company to prudently and effectively allocate its idle funds, thereby enhancing overall capital returns [1] - The subscription also provides the company with investment opportunities in the Asia-Pacific market while reducing direct investment risks through participation in a professionally managed fund structure [1]

Core Insights - The most important aspect of investing is asking the right questions, according to Jiang Xiaoli from Tianhong Asset Management [1] Group 1 - Jiang Xiaoli emphasizes the significance of formulating correct questions in the investment process [1] - The approach to investment should focus on understanding the underlying issues rather than just seeking answers [1]

| 职务 | 重事长 | | --- | --- | | 姓名 | 那成武 | | 任职日期 | 2025-8-29 | | 过往从业经历 | 1995年8月至1999年5月任职于北京清 | | | 华大学企业集团,历任项目经理、办公室 | | | 副主任、董事会秘书:1999年6月至2005 | | | 年 12 月任职于北京清华通力机电设备有 | | | 限公司,担任党总支书记、副董事长、总 | | | 经理:2005年12月至2008年3月任职于 | | | 江西诚志科技发展有限公司,担任总经理: | | | 2008年4月至2017年1月任职于诚志股 | | | 份有限公司,历任总裁助理、专务副总裁、 | | | 副总裁、董事、总裁:2017年4月至2025 | | | 年1月任职于清华控股有限公司(2022年 | | | 7月更名为天府清源控股有限公司),担任 | | | 党委委员、副总经理:2025年1月至今任 | | | 职于天府清源控股有限公司,担任党委副 | | | 书记、副董事长、总经理。 | | 取得的相关从业资格 | 基金从业资格 | | 國籍 | 中国 | | 学历、学位 | 硕士研 ...

MACD金叉信号形成，这些股涨势不错！ 泓德研究优选混合的基金经理王克玉分析指出，2021年下半年开始由于房地产的持续下行，对消费者信 心、政府支出等很多方面产生共振下行，导致基于土地资源和房地产为信用支点的部分内需行业在过去 三年中盈利持续恶化，基于对人口结构、存量供需和宏观政策的分析，减量优化将是部分行业发展的中 长期趋势。与此同时过去几年中越来越多的上市公司在产业链中的竞争优势在持续提升，国际化的企业 运营能力也有了明显改善，这将对企业盈利能力的改善具有显著的正面影响。 责任编辑：郭栩彤 从2024年年中以来国内金融政策发生比较显著的改善，国内资本市场政策导向更多向提升投资者回报、 改善上市公司质量方向发展。香港证券市场的规模快速扩张，众多A股的行业领先公司纷纷在港股增 发，为企业的进一步国际化发展做好准备；海外投资者也在增加对港股市场投资的关注度。 2025年上半年泓德研究优选混合基金净值增长率为7.60%，同期业绩比较基准收益率为0.11%。基金自 2019年5月27日成立以来累计净值增长率81.69%，同期业绩比较基准收益率为11.79%。 王克玉认为，随着经济活动自身的周期性因素触底，以及金融、 ...