登录新浪财经APP 搜索【信披】查看更多考评等级 专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪《2024年度A股CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年 从商贸零售行业看，2024年财务总监薪酬为6878万元；从人均薪酬看，2024年商贸零售董秘人均薪酬为78万元。 从薪酬分布情况下，财务总监不同区间薪酬似乎相对均衡，其中，30万至60万28家；60万至90万20家；90-120万公司数量为10家，大于120万为18家。需要指出的是，由于任职期不满一年 从年龄分布看，零售商贸行业的财务总监主要集中在40至49岁之间，其占比为52%；其次为50岁至59岁之间，样本占比为30%。 从学历看，零售商贸行业的财务总监主要以本科硕士学历为主，具体数量上本科为49家，硕士为32家，博士为2家，专科为5家。 具体而言，重庆百货、中央商场、吉宏股份、汇嘉时代及跨境通的财务总监均为专科学历。 剔除任职期不满一年的样本，在商贸零售行业，赛维时代财务总监薪 ...

专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 登录新浪财经APP 搜索【信披】查看更多考评等级 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪《2024年度A股CFO数 据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年薪为81.48万 元。 从商贸零售行业看，2024年财务总监薪酬为6878万元；从人均薪酬看，2024年商贸零售董秘人均薪酬为 78万元。 2024年12月10日晚间，新迅达披露公司及相关人员收到广西证监局警示函。经查，新迅达存在关联方非 经营性资金占用情形且未及时披露、未及时审议披露对外财务资助情况、内幕信息知情人登记管理不规 范等三大方面问题。 具体而言，2023年，新迅达关联方山东瑞福锂业股份有限公司、肥城市明瑞工贸有限公司存在非经营性 占用新迅达资金的情形。截至目前，相关占用资金已归还，相关会计差错已更正。新迅达未按规定及时 在临时公告和2023年半年报中披露前述关联方非经营性资金往来情况。 | 在线代码 日在赤質能 国姓名 国图5 - 国 对外总是鼎加盟帮忙的 国个人简历 ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪《2024年度A 股董秘数据报告》显示，2024年A股上市公司董秘薪酬合计达40.86亿元，平均年薪75.43万元。 从商贸零售行业看，2024年董秘薪酬为7，951.86万元，较上年整体下滑2%；从人均薪酬看，2024年环 保行业董秘人均薪酬为81.14万元，上一年为82.98万元。 从薪酬分布情况下，98家商贸零售行业上市公司董秘中位数为60.71万元，其中薪酬在30万元至60万元 为30家，占比为31%；其次薪酬在60万元至90万元为22家，占比为23%。从上述数据可以看出，30万至 90万董秘薪酬，为行业占比一半左右。 剔除任期不满一年或2025年新上任的董秘，商贸零售行业薪酬前三分别豫园股份、美凯龙、中国中免， 年薪分别为641.07万元、514.51万元、297.41万元；商贸零售行业薪酬倒数前三的分别为银座股份、国 芳集团、凯瑞德（维权），对应薪酬分别为26.57万元、28.09万元、29万元。 商贸零售行业董秘薪酬TOP15均超百万， ...

近5日机构合计调研173家公司，海大集团、民士达、小商品城等被多家机构扎堆调研。 近5日机构调研股一览 | 证券代码 | 证券简称 | 机构调研次数 | 机构家数 | 最新收盘价（元） | 其间涨跌幅（%） | 行业 | | --- | --- | --- | --- | --- | --- | --- | | 002311 | 海大集团 | 1 | 123 | 56.90 | -0.54 | 农林牧渔 | | 833394 | 民士达 | 1 | 96 | 42.34 | 0.57 | 轻工制造 | | 600415 | 小商品城 | 1 | 84 | 21.65 | 5.51 | 商贸零售 | | 002536 | 飞龙股份 | 2 | 80 | 16.22 | 3.91 | 汽车 | | 300789 | 唐源电气 | 1 | 78 | 31.32 | -0.03 | 计算机 | | 001317 | 三羊马 | 1 | 74 | 47.20 | -0.74 | 交通运输 | | 300781 | 因赛集团 | 2 | 63 | 45.80 | 23.38 | 传媒 | | 001283 | 豪鹏科技 ...

2025年上半年，新疆商贸零售龙头企业汇嘉时代（603101）(603101.SH)交出了一份令人瞩目的中期业 绩答卷。在这半年里，公司实现了营业收入12.71亿元，同比增长2.29%，净利润与扣非净利润更是双双 大幅上扬，较上年同期涨幅分别为62.64%、75.98%，展现出这家扎根新疆20余年的企业在区域消费复 苏浪潮中的强劲韧性。能够取得这样的成绩，源于汇嘉时代打出的一套组合拳，涵盖首店经济破局、深 度借鉴胖东来模式、供应链数智化升级及低空经济布局等多个维度，使其在新疆市场的地位得到进一步 巩固。 开年以来，国家提振消费的相关政策持续发力，汇嘉时代顺势以首店经济为切入点，推动百货业态实现 逆势增长。据披露，上半年公司百货板块新引进品牌224个，其中北汇店引入的罗拉马希高端美妆、西 塔老太太特色餐饮等首店品牌，直接填补了新疆相关业态的空白。随着餐饮与体验类品牌占比的持续提 升，不仅带动门店客流稳步增长，也为铺位价值的提升奠定了基础。在招商与运营策略上，汇嘉时代采 取"精准招商+场景运营"的方式：购物中心联动影院、儿童乐园推出会员专属活动，百货门店则依据会 员卡等级提供差异化停车特权。通过不断强化场景体验与 ...

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index rising by 0.17%, while the Shenzhen Component Index and the ChiNext Index fell by 0.77% and 1.62% respectively, with a total trading volume of 1,843.965 billion yuan [2][7] - In the Shenwan industry classification, steel, oil and petrochemicals, and media sectors led the gains, while electric equipment, computers, and automobiles lagged behind [2][7] - The Hang Seng Index in Hong Kong decreased by 1.36%, and the Hang Seng Technology Index fell by 2.72% [2][7] - In the U.S. market, the Dow Jones Industrial Average fell by 0.38%, the S&P 500 decreased by 0.12%, while the Nasdaq rose by 0.15% [2][7] Important News - The Central Committee of the Communist Party of China decided to hold the Fourth Plenary Session of the 20th Central Committee in October 2025, focusing on the formulation of the 15th Five-Year Plan for national economic and social development [3][8] - The Federal Reserve maintained the federal funds rate target range at 4.25% to 4.5%, indicating that it is too early to predict a rate cut in September due to uncertainties surrounding tariffs and inflation [3][8] Industry Performance Light Industry - The light industry sector's performance in the first half of 2025 was lackluster, with a pre-profit rate of 46%. As of July 28, 2025, 165 A-share companies in this sector had a disclosure rate of 33% [9] - 17% of light industry companies reported losses for the first half of 2025, with 37% of companies experiencing continuous losses [9] Paper Industry - The paper sector showed a higher pre-profit rate of 67%, while the packaging and printing sector's loss ratio decreased [10][11] - The paper industry is expected to benefit from the "anti-involution" initiative, which aims to eliminate backward production capacity and restore profitability [11] Textile and Apparel - The textile and apparel sector had a pre-profit rate of 51% for the first half of 2025, with 43 out of 107 A-share companies disclosing their performance [13][14] - The proportion of companies reporting losses increased from 28% to 35%, while the percentage of companies with profit growth decreased from 28% to 23% [13][14] Agriculture, Forestry, Animal Husbandry, and Fishery - The agriculture sector showed an overall positive trend with a pre-profit rate of 69%, and the proportion of companies reporting profit growth increased significantly [17][18] - The animal husbandry and animal health sectors performed particularly well, with a notable reduction in the number of companies reporting continuous losses [17][18] Inverter Exports - In June 2025, China's inverter exports amounted to 6.576 billion yuan, showing a month-on-month increase of 10.23% and a year-on-year increase of 0.92% [19][21] - The Asian market maintained high growth, particularly in the Middle East, while the North American market showed signs of recovery [19][21][22] Investment Recommendations - The report suggests focusing on companies in the paper industry that can benefit from the "anti-involution" policy and have cost advantages [11] - In the textile sector, attention is drawn to companies with strong brand power and those likely to benefit from improved consumer demand [15] - The agriculture sector's leading companies, particularly in animal husbandry, are recommended for investment due to their improved profitability outlook [17]

报告期内，汇嘉时代还引入飞书智能协同平台，数智化建设提档加速。公司从智能化门店管理、组织协 同提效、AI业务赋能及一站式协作平台建设等维度发力，依托飞书的AI协同能力优势，打造数智化数 据中台，打破壁垒，实现跨部门、跨系统、跨产业的流程协同协作，不断提升数智化运营水平。同时， 公司亦将利用数智化优势，积极探索"低空经济+消费"，融合发展多元应用场景，拓展业务新边界。 在此前汇嘉时代与投资者交流时，汇嘉时代创始人、实际控制人潘锦海对此向投资者表示，飞书的引入 不仅是技术升级，更是管理范式的革新。汇嘉时代通过飞书的AI协同能力与数据中台能力，将打通跨 部门、跨系统、跨产业的流程协作壁垒。 半年报数据披露，报告期公司百货业态自营毛利率从2024年上半年的5.41%，提高至7.09%；超市毛利 率更是从2024年上半年的13.61%提高至18.34%。 资料显示，经过深耕新疆市场二十余年的运作和积累，汇嘉时代抢抓机遇，深化布局，在巩固发展存量 业务的基础上，积极布局疆内空白市场，提升市场占有率。截至2025年6月末，公司在新疆地区拥有6家 百货商场、5家购物中心及11家独立超市，受托管理2家购物中心及1家百货商场，建 ...

Group 1 - The A-share and Hong Kong stock markets showed signs of recovery in July, with major indices generally rising, driven by improved market sentiment and policy catalysts. The ChiNext index had the highest increase of 8.7%, while the Shanghai Composite Index had the smallest increase of 3.1% [1][8] - The steel, construction materials, and non-ferrous metals sectors performed well due to ongoing anti-involution policies and infrastructure projects like the Yajiang Hydropower Station [1][8] - The Hong Kong stock market experienced a steady upward trend, with the Hang Seng Technology Index rising by 7.1% and the Hang Seng Index by 5.5% as of July 25, 2025 [1][10] Group 2 - The A-share market is expected to reach new highs in the second half of the year, transitioning from policy-driven to fundamentals and liquidity-driven growth, with potential to surpass the peak of the second half of 2024 [2][12] - Focus on sectors benefiting from anti-involution policies, including coal, steel, photovoltaic, and construction materials, as well as opportunities in electronics and machinery equipment [2][13] - The market is anticipated to exhibit a "rotation and rebound" characteristic, with attention on industries that have lagged behind but have shown strong historical performance [2][13] Group 3 - The Hang Seng Index has surpassed previous highs and is expected to continue its upward trend, supported by strong profitability in the Hong Kong market and low valuations in sectors like internet, new consumption, and innovative pharmaceuticals [3][19] - The "dumbbell" strategy is recommended, focusing on technology growth and high dividend yield sectors, including telecommunications, utilities, and banking [3][19] - Key stocks for August 2025 in the A-share market include Dongfang Caifu, Hainan Huatie, and Huayou Cobalt, while the Hong Kong stock recommendations include China Life, Xinhua Insurance, and Tencent Holdings [3][24][28]

Investment Rating - The investment rating for the company is "Buy" with a target price of HKD 68 per H-share [1][6]. Core Insights - The company is expected to experience a decline in net profit for the first half of 2025, with a forecasted decrease of 20.8% year-on-year. Total revenue for the same period is projected to be RMB 28.15 billion, down 10% year-on-year [6][8]. - The second quarter of 2025 is anticipated to show a revenue of RMB 11.4 billion, reflecting an 8.5% decline year-on-year, and a net profit of RMB 660 million, down 32.2% year-on-year. This performance is below expectations [6][8]. - The company is expected to benefit from the recovery of cross-border flights and the improvement of airport duty-free store operations in the second half of 2025, with a projected increase in market share in Hainan [8]. Financial Summary - The company’s net profit for 2025 is estimated at RMB 45.21 billion, with a year-on-year growth of 6%. The earnings per share (EPS) is projected to be RMB 2.19 [7][8]. - The price-to-earnings (P/E) ratio for H-shares is expected to be 24 times for 2025, decreasing to 19 times by 2027 [7][8]. - The company’s revenue is projected to grow from RMB 61.38 billion in 2025 to RMB 74.87 billion by 2027 [11]. Market Position and Strategy - The company is focusing on expanding its presence in the Hainan market, which is expected to improve as the Hainan Free Trade Port is set to officially close on December 18, 2025. This is anticipated to enhance local economic vitality and benefit the company's operations [8]. - The company plans to open multiple new city duty-free stores throughout the year, further enhancing its operational layout [8].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - This weekly report tracks the liquidity scores of individual bonds in different bond sectors based on the bond asset liquidity scores of qb. The liquidity of medium - to long - term, medium - to high - rated urban investment bonds has decreased, while the liquidity of medium - to long - term industrial bonds has increased [1]. 3. Summary by Relevant Catalogs 3.1 Urban Investment Bonds: Decreased Liquidity of Medium - to Long - Term, Medium - to High - Rated Bond Items - **Quantity Changes**: The number of high - grade, high - liquidity urban investment bonds with medium - to long - terms and medium - to high - ratings has decreased. Regionally, the number of high - grade, high - liquidity bond items has increased in Shandong and Sichuan, remained stable in Chongqing, and decreased in Jiangsu and Tianjin. In terms of maturity, the number of high - grade, high - liquidity bond items has remained stable for those within 1 year and over 5 years, but decreased for those in the 1 - 2 - year, 2 - 3 - year, and 3 - 5 - year ranges. In terms of implicit ratings, the number of high - grade, high - liquidity bond items with implicit ratings of AAA, AA+, AA, AA(2), and AA - has all decreased, with a larger decrease in medium - to high - rated bonds [1][7]. - **Yield Changes**: Regionally, the yields of high - grade, high - liquidity urban investment bonds in Jiangsu, Shandong, Sichuan, Tianjin, and Chongqing have mainly increased, with the increase ranging from 5 - 15bp. In terms of maturity and implicit ratings, the yields of high - grade, high - liquidity urban investment bonds have mainly increased, with the increase ranging from 8 - 12bp [8]. - **Top 20 in Liquidity Score Increase**: The main body level is mainly AA, concentrated in regions such as Jiangsu, Zhejiang, Sichuan, Anhui, and Hunan, and the industries mainly involve construction decoration, transportation, and comprehensive industries [10]. - **Top 20 in Liquidity Score Decrease**: The main body level is mainly AA, with regional distribution mainly in Jiangsu, Zhejiang, Hunan, Fujian, and Shanghai, and the industries are mainly construction decoration, real estate, and comprehensive industries [10]. 3.2 Industrial Bonds: Increased Liquidity of Medium - to Long - Term Bond Items - **Quantity Changes**: The number of high - grade, high - liquidity industrial bonds with medium - to long - terms has increased. By industry, the number of high - grade, high - liquidity bond items has increased in the public utilities and steel industries, and decreased in the real estate, transportation, and coal industries. In terms of maturity, the number of high - grade, high - liquidity bond items has increased for those in the 2 - 3 - year, 3 - 5 - year, and over 5 - year ranges, remained stable for those in the 1 - 2 - year range, and decreased for those within 1 year. In terms of implicit ratings, the number of high - grade, high - liquidity bond items with implicit ratings of AAA, AAA -, and AA+ has increased, while the number with implicit ratings of AAA+ and AA - has decreased [2][16]. - **Yield Changes**: By industry, the yields of high - grade, high - liquidity bonds in the public utilities, transportation, coal, and steel industries have mainly increased, with the increase ranging from 8 - 15bp. The yields of bond items with a liquidity level of B in the real estate industry have decreased, with a decrease of about 12bp. In terms of maturity, the yields of high - grade, high - liquidity bonds at all maturities have mainly increased, with the increase ranging from 10 - 14bp. In terms of implicit ratings, the yields of high - grade, high - liquidity bond items at all implicit ratings have mainly increased, with the increase ranging from 8 - 10bp [17]. - **Top 20 in Liquidity Score Increase**: The industries of the top 20 main bodies in liquidity score increase are mainly commerce and retail, real estate, and power equipment, and the main body levels are mainly AAA and AA+. The industries of the top 20 bonds are mainly transportation, public utilities, and real estate [18]. - **Top 20 in Liquidity Score Decrease**: The top 20 main bodies in liquidity score decrease are mainly in the construction decoration, real estate, and transportation industries, and the main body levels are mainly AAA and AA. The industries of the top 20 bonds are mainly transportation, public utilities, and coal [18].