光大证券表示，沪指仅调整一个交易日即强势反弹，显示出市场的韧性，接下来市场有望延续指数震荡、热点轮动的风格。 今日题材方面： 1、华为产业链 | 据证券时报报道，6月30日，华为宣布开源盘古70亿参数的稠密模型和720亿参数的混合专家模型（盘古Pro MoE 72B）。此外， 基于昇腾的模型推理技术也同步开源。据了解，华为最新开源的Pro MoE 72B大模型，在参数量仅为720亿，激活160亿参数量的情况下，通过动 态激活专家网络的创新设计，实现了以小打大的优异性能，甚至可以媲美千亿级模型的性能表现。 点评：招商证券指出，今年年初以来，国产大模型在技术与应用层面迎来密集更新。其中华为盘古5.5发布了涵盖自然语言、视觉、多模态等领 域的718B参数MOE架构大模型，并推出"世界模型"赋能自动驾驶等行业应用。其表示，从昇腾（Ascend）芯片、CANN异构计算架构、超节点 到盘古大模型，华为提供了一个完全自主、深度优化的闭环解决方案。 2、工业互联网 | 据中证金牛座6月30日报道，进一步深化金融服务新型工业化的相关政策有望研究出台。服务新型工业化，是金融服务实体经济 的重要内容。去年4月，国家金融监督管理总局 ...

贸易协议希望推动标普500指数再创新高，Q2创一年半最大季度涨幅；上半年美债创五年同期最 佳表现、美元创1973年来最大同期跌幅。 报道称欧盟愿意接受美国对多类商品10%关税税率，但希望把关键行业排除在外。 加拿大让步，取消数字服务税，美加将恢复贸易谈判，以期在7月21日前达成协议。 美国财长贝森特称无意增加长期美债发行比重；稳定币立法或7月中出台。 特朗普扩大攻击对象，批评包括鲍威尔在内的美联储理事会；白宫称特朗普周一致信美联储提及 全球利率。 中国6月官方制造业PMI连升两月至49.7，新订单指数回升至扩张区间，非制造业延续扩张。 重大转变：苹果被爆考虑外部AI技术赋能Siri、用第三方Anthropic或OpenAI的AI模型；郭明錤： 苹果在憋"大招"，七款头显、AI眼镜在研，2027年会是大爆发期。 甲骨文拿下云大单，一年创收300亿，股价一度涨超8%，创历史新高。 ...

*道指涨近300点； 市场概述 美国总统特朗普的90天关税减免将于下周到期，投资者正在等待美国与其贸易伙伴之间任何贸易协议的 宣布。加拿大周末宣布取消数字服务税，以促进与美国的贸易谈判。此前，特朗普上周五表示，美国将 暂停与加拿大的所有贸易讨论。 斯巴达资本证券（Spartan Capital Securities）首席市场经济学家卡迪洛（Peter Cardillo）表示："人们希 望最终能与美国贸易伙伴达成某种一致，这将防止通货膨胀失控。因此，你有良好的盈利前景，美联储 可能会在9月份降息，这导致了大量的购买势头。" *芝加哥6月PMI不及预期； *回购派息预期提振金融板块，高盛涨超2%。 周一美股全线上涨，标普、纳指再度联袂创历史新高，对贸易协议和可能降息的希望缓解了投资者的不 确定性。截至收盘，道指涨275.50点，涨幅0.63%，报44094.77点，纳指涨0.47%，报20369.73点，标普 500指数涨0.52%，报6204.95点。 二季度，道指累计上涨4.98%，纳指上涨17.75%，标普500指数上涨10.57%。 与此同时，美国参议院共和党人将试图推动特朗普的"大而美"法案，特朗普希望 ...

Market Overview - US stock indices closed higher, with the Dow Jones up 0.63%, Nasdaq up 0.47%, and S&P 500 up 0.52% [1] - The VIX index increased by 2.51% to 16.73, while the US dollar index fell by 0.5% to 96.77 [1] - The yield on the US 10-year Treasury bond decreased by 1.053% to 4.229%, with a spread of 50.6 basis points compared to the 2-year Treasury yield [1] - Spot gold rose by 0.87% to $3302.8 per ounce, and Brent crude oil increased by 0.3% to $66.59 [1] Industry & Stocks - Most sectors in the S&P 500 saw gains, with technology up 0.98%, communication up 0.79%, and real estate up 0.73%, while energy, materials, and semiconductors declined by 0.57%, 0.09%, and 0.07% respectively [1] - Chinese concept stocks mostly fell, with notable declines in JD down 1.3%, Li Auto down 1.31%, and Alibaba down 0.59% [1] Technology Sector - Major tech stocks mostly rose, with Apple increasing by 2.03% amid reports of considering external AI for Siri [2] - Nvidia rose by 0.15%, Microsoft by 0.3%, and Oracle by 3.99%, while Amazon fell by 1.75% and Tesla by 1.84% [2] - Robinhood launched tokenized stock products based on Arbitrum, expanding its crypto business [3] AI Developments - Apple is considering using external AI technologies from Anthropic or OpenAI to enhance Siri, marking a significant shift in strategy [4] - Meta announced a major restructuring of its AI department to focus on developing "superintelligence" systems [5][6] Corporate Investments - Luckin Coffee is investing 30 billion RMB in an innovation industrial park in Xiamen, which will become one of the largest coffee roasting facilities globally [7]

每经编辑｜张喜威 王晓波 V 中国6月财新制造业PMI将公布 2 全球主要央行行长将进行小组会谈 3 国家税务总局发布《纳税缴费信用管理 法》，自2025年7月1日起施行 4 证监会发布的《『市公司信息披露暂红 管理规定》自7月1日起实施 ⑤香港特别行政区成立纪念日，港股休ī 1 隔夜市场 美股三大指数集体收涨，道指涨0.63%，纳指涨0.47%，标普500指数涨0.52%，纳指、标普均创历史收盘新高；科技股集体上涨，微软、Meta、奈飞均小幅 收涨并创盘中历史新高，苹果收涨2%；Robinhood收盘上涨13%，创下4月9日以来的最佳单日表现。中概股涨跌互现，纳斯达克中国金龙指数收跌0.49%， 小鹏汽车、京东跌超1%，老虎证券涨超2%，网易涨超1%。 美元指数跌0.5%报96.77，6月跌2.68%，上半年跌10.79%。 现货黄金涨0.88%，报3302.16美元/盎司；COMEX黄金期货涨0.83%，报3315.00美元/盎司；COMEX白银期货跌0.11%，报36.33美元/盎司。 国际油价微跌，美油主力合约收跌0.84%，报64.97美元/桶；布伦特原油主力合约跌0.30%，报66.60美元/桶。 ...

董事、高级管理人员持有和买卖本公司股票管理制度 银江技术股份有限公司 法》）、《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》、 《深圳证券交易所上市公司自律监管指引第10号——股份变动管理》等法律、 法规、规范性文件以及《银江技术股份有限公司章程》（以下简称《公司章 程》）的规定，并结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事、高级管理人员及本制度第二十四条规定 的自然人、法人或其他组织持有及买卖公司股票管理。 董事、高级管理人员持有和买卖本公司股票管理制度 （2025年6月修订） 第一章 总则 第一条 为加强银江技术股份有限公司(以下简称"公司")对董事、高级 管理人员持有及买卖本公司股票的管理工作，根据《中华人民共和国公司法》 （以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证券 第六条 因公司公开或非公开发行股份、实施股权激励计划等情形，对董 董事、高级管理人员持有和买卖本公司股票管理制度 事、高级管理人员转让其所持本公司股份做出附加转让价格、附加业绩考核条 件、设定限售期等限制性条件的，公司应当在办理股份变更登记或行权等手续 时，向深圳证券交易所（以下简称"深 ...

General Provisions - The purpose of the guidelines is to standardize company behavior and clarify the responsibilities and authority of the board secretary, in accordance with relevant laws and regulations [2][3] Qualifications - The board secretary must possess necessary professional knowledge in finance, management, and law, have good personal and professional ethics, and hold a qualification certificate issued by the exchange [2][3] - Individuals with certain disqualifying conditions, such as administrative penalties from the China Securities Regulatory Commission (CSRC) or public reprimands from the stock exchange, are not eligible to serve as board secretary [3][4] Main Responsibilities - The board secretary is responsible for coordinating the company's information disclosure, managing investor relations, and ensuring compliance with relevant regulations [5][6] - The board secretary must maintain confidentiality regarding undisclosed significant information and report any leaks to the Shenzhen Stock Exchange [5][6] - The board secretary has the authority to access the company's financial and operational information and must be supported by the board and senior management in fulfilling their duties [6][7] Appointment and Dismissal Procedures - The board secretary is nominated by the chairman and appointed or dismissed by the board of directors [7][8] - The company must reappoint a new board secretary within three months after the previous one leaves [7][8] - The board must provide sufficient reasons for dismissing the board secretary and report the dismissal to the Shenzhen Stock Exchange [7][8] Legal Responsibilities - The board secretary is liable for damages caused by decisions that violate laws or regulations, unless they can prove they opposed the decision [9][10] - If the board secretary is found in violation of the guidelines, the board may recommend the cancellation of their qualification and impose penalties [9][10] Supplementary Provisions - If any part of these guidelines conflicts with national laws or regulations, the latter shall prevail [10] - The board is responsible for interpreting these guidelines, which take effect upon board approval [10]

Core Viewpoint - The document outlines the information disclosure management system for Yinjiang Technology Co., Ltd. regarding the issuance of debt financing instruments in the interbank bond market, aiming to protect investors' rights and ensure compliance with relevant regulations [1][2]. Group 1: General Principles and Regulations - The information disclosure is defined as the release of relevant matters in accordance with regulations, ensuring timely and accurate publication on approved platforms [2][3]. - The company is responsible for disclosing a range of information, including issuance announcements, periodic reports, and any significant events affecting debt repayment capabilities [4][5]. - All disclosed information must be truthful, accurate, complete, and timely, with individuals responsible for any misleading statements or omissions [3][6]. Group 2: Disclosure Content and Standards - Issuance documents must include announcements, prospectuses, credit rating reports, and the company's audited financial statements for the past three years [5][6]. - Regular disclosures include annual reports by April 30, semi-annual reports by August 31, and quarterly reports by April 30 and October 31 [6][7]. - Significant events that may impact repayment capabilities must be disclosed promptly, including changes in management, financial conditions, or legal issues [7][8]. Group 3: Management and Implementation of Disclosure - The board of directors is responsible for managing information disclosure, with the chairman as the primary responsible person [26][27]. - The board secretary coordinates disclosure activities and ensures compliance with regulations [27][28]. - All departments and subsidiaries are required to report significant information to the board or board secretary immediately [32][33]. Group 4: Accountability and Penalties - Individuals responsible for significant disclosure errors may face penalties, including internal reprimands or termination [38][44]. - The legal department handles reports of disclosure errors and oversees the investigation and resolution process [39][40]. - The company must ensure that all disclosure-related documents are retained for at least ten years [37].

General Provisions - The purpose of the implementation rules for the Audit Committee of Yinjian Technology Co., Ltd. is to strengthen the decision-making function of the board of directors, ensure effective supervision of the management, and improve the corporate governance structure [1][2] - The Audit Committee is a specialized working body established by the board of directors, responsible for reviewing financial information and overseeing internal and external audit work [1][2] Composition of the Committee - The Audit Committee consists of three directors, with a majority being independent directors, and at least one independent director must be a professional accountant [2][3] - The committee members are nominated by the chairman, more than half of the independent directors, or at least one-third of all directors, and elected by the board of directors [2][3] Responsibilities and Authority - The main responsibilities of the Audit Committee include supervising and evaluating external audit work, overseeing the internal audit system, reviewing financial information, and supervising the internal control system [4][5] - The committee is responsible for reporting to the board of directors and must approve certain decisions, such as the disclosure of financial reports and the hiring or dismissal of external auditors [5] Decision-Making Procedures - The Audit Department is responsible for preparing the committee's decisions and providing relevant materials, including financial reports and audit reports [7] - The committee meetings can be regular or temporary, with at least four regular meetings held annually, and decisions require a majority vote from the members present [9][10] Meeting Rules - Meetings must have at least two-thirds of the members present to be valid, and decisions are made by a majority vote [9][10] - The committee can invite other directors and senior management to attend meetings if necessary, and all attendees have confidentiality obligations regarding the discussed matters [10] Supplementary Provisions - The implementation rules take effect upon approval by the board of directors, and any unresolved matters will be governed by relevant national laws and regulations [11]

Core Viewpoint - The document outlines the fundraising management system of Yinjian Technology Co., Ltd, emphasizing the importance of regulatory compliance, efficient use of raised funds, and the establishment of a structured approval and supervision process for fundraising activities [2][4][16]. Group 1: Fundraising Management - The system is designed to regulate the management of funds raised through public or private securities issuance, ensuring that funds are used for specific purposes as outlined in the company's articles of association [2][4]. - The board of directors and senior management are responsible for ensuring the proper use of raised funds and must not engage in unauthorized changes to the use of these funds [4][6]. - The company must establish a special account for raised funds, which should be managed separately from other funds, and any excess funds must also be stored in this account [4][8]. Group 2: Fund Usage and Approval - The company must ensure that the use of raised funds aligns with the commitments made in the prospectus and cannot arbitrarily change the investment direction [6][10]. - All expenditures involving raised funds require approval from the board of directors, and any significant deviations from the planned investment must be reported [10][14]. - The company is prohibited from using raised funds for high-risk investments or for purposes outside the approved projects [6][12]. Group 3: Monitoring and Reporting - The company is required to conduct semi-annual reviews of the progress of fundraising projects and disclose the findings in regular reports [7][16]. - Independent auditors must verify the actual use of raised funds and report any discrepancies in the annual fundraising report [16][17]. - The company must promptly disclose any changes in the use of raised funds, including the reasons for such changes and the new project details [14][32]. Group 4: Special Provisions for Excess Funds - The company must develop a plan for the use of excess funds raised beyond the planned amount, which requires board approval and must be disclosed [10][11]. - Any use of excess funds for repaying bank loans or permanently supplementing working capital must also be approved by the board and shareholders [11][23]. - Temporary use of idle raised funds for cash management is allowed under strict conditions, ensuring it does not affect the normal operation of fundraising projects [12][26]. Group 5: Compliance and Legal Framework - The fundraising management system must comply with national laws and regulations, and any conflicts with these laws will defer to the legal provisions [42][43]. - The board of directors is responsible for interpreting the fundraising management system and ensuring adherence to the established guidelines [43][44].