Core Viewpoint - Blackstone Group's investment philosophy emphasizes being greedy when others are fearful, which is reflected in its strategic acquisitions, including a recent bid for TechnoPro in Japan, indicating a strong belief in the long-term value of the Asian market and technology services [1][3]. Group 1: Acquisition Details - Blackstone announced its intention to acquire TechnoPro for 507 billion yen (approximately $3.5 billion), representing a premium of over 25% compared to TechnoPro's recent stock price [1][2]. - TechnoPro is a leading IT service provider in Japan, specializing in engineering and technical personnel outsourcing, with over 28,000 engineers and more than 2,500 clients across various industries [2]. Group 2: Market Context - The Japanese stock market has been steadily rising, with foreign investments from firms like Blackstone and Buffett contributing to a "Japan asset boom" [1]. - Japan's current deflationary environment has led to long-term damage to corporate valuations, particularly for emerging tech firms like TechnoPro, which may be undervalued due to limited funding channels and market reforms [3]. Group 3: Strategic Rationale - Blackstone's acquisition is driven by two main factors: the potential of the Asian market amidst global economic pressures and the diversification strategy to mitigate risks associated with the U.S. market [3][12]. - The partnership with TechnoPro aligns with Blackstone's focus on high-quality IT service providers that can benefit from digitalization and AI advancements [4]. Group 4: Broader Investment Strategy - Blackstone has been actively investing in Japan since the 1990s, with a focus on real estate and more recently expanding into healthcare and technology sectors [8][9]. - The firm has completed seven private equity investments in Japan, diversifying its portfolio to include commercial real estate, biopharmaceuticals, IT services, and data centers [9]. Group 5: Future Outlook - Blackstone plans to expand its private asset fund sales channels in Japan and aims to launch a yen-denominated fund by the end of 2025, reflecting its commitment to the Japanese market [10][11]. - The Japanese government's recent policy shifts to attract foreign investment present significant opportunities for Blackstone, particularly in asset management and capitalizing on Japan's vast financial assets [11].

Market Overview - The market experienced a narrow fluctuation with all three major indices slightly declining, with the Shanghai Composite Index down 0.12%, the Shenzhen Component down 0.26%, and the ChiNext down 0.38% [2] - Over 2800 stocks in the market declined, indicating a bearish sentiment, while the total trading volume in the Shanghai and Shenzhen markets was 1.71 trillion yuan, a decrease of 115.3 billion yuan from the previous trading day [2] Sector Performance - Sectors such as Xinjiang, high-speed rail, super hydropower, and electricity saw gains, while sectors like multimodal AI, Huawei Ascend, semiconductors, and e-commerce faced declines [2] - The infrastructure sector, represented by rail transit equipment, showed significant strength, while early active sectors like brain-computer interfaces and wind power equipment experienced a decline [15] Technology Sector Analysis - Following the release of GPT-5 by OpenAI, the technology sector in A-shares saw a decline despite positive performance in U.S. tech stocks [9] - The software development sector fell by 2.96%, IT services by 2.30%, and semiconductors by 2.17%, while the overall technology sector remains positive year-to-date [9][10] Wind Power and Infrastructure Insights - Wind power saw a significant increase in new installations, with 51.39 GW added in the first half of the year, a year-on-year increase of 98.88% [18] - The construction machinery sector also showed growth, with excavator sales increasing by 25.2% year-on-year in July [22] - The construction and building materials sectors are expected to stabilize and improve due to favorable policies and low historical valuations [22] Investment Outlook - Analysts remain optimistic about the AI sector's future performance, citing conditions for a renewed focus on AI investments [12] - The construction sector is anticipated to benefit from macroeconomic policies aimed at stimulating investment and improving industry conditions [22]

中国经济网北京8月8日讯 A股三大指数今日震荡调整。截至收盘，上证指数报3635.13点，跌幅0.12%， 成交额7135.70亿元；深证成指报11128.67点，跌幅0.26%，成交额9966.57亿元；创业板指报2333.96点，跌幅 0.38%，成交额5002.90亿元。 A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | | 总成交量 (万手) ▼ 总成交额 (亿元) ▼ | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 轨交设备 | 4.56 | 784.09 | 77.30 | 9.74 | 30 | 0 | | 2 | 风电设备 | 2.73 | 958.51 | 131.79 | 11.88 | 24 | 5 | | 3 | 工程机械 | 2.47 | 1537.27 | 230.78 | 18.28 | 25 | ਰੇ | | র্ব | 燃气 | 1.96 | 385.31 | 31.89 | 0.66 | 24 | র্ব | | 5 | 能源等 | 1 ...

Market Overview - The A-share market experienced slight fluctuations with minor gains in the morning session, with the Shanghai Composite Index up by 0.07% to 3642.10 points, the Shenzhen Component Index up by 0.14% to 11173.87 points, and the ChiNext Index up by 0.21% to 2347.83 points [1] Sector Performance Top Gaining Sectors - The engineering machinery sector led the gains with an increase of 3.13%, achieving a total trading volume of 1,133.99 million hands and a total transaction value of 170.62 billion [2] - The wind power equipment sector followed with a rise of 2.71%, with a trading volume of 659.39 million hands and a transaction value of 89.64 billion [2] - The rail transit equipment sector saw an increase of 1.58%, with a trading volume of 257.26 million hands and a transaction value of 26.61 billion [2] Top Declining Sectors - The software development sector experienced the largest decline at -2.23%, with a trading volume of 1,902.91 million hands and a transaction value of 412.41 billion [2] - The IT services sector fell by 1.65%, with a trading volume of 2,692.79 million hands and a transaction value of 411.94 billion [2] - The semiconductor sector decreased by 1.62%, with a trading volume of 1,265.75 million hands and a transaction value of 586.80 billion [2]

Core Insights - The report highlights that as of July 29, 2024, there are 5,817 listed companies in the A-share market, with a total of 1,144 secretaries earning over 1 million yuan, accounting for over 21% of the total [1] - The total salary for A-share secretaries reached 4.086 billion yuan in the previous year, with an average salary of 754,300 yuan [1] Salary Distribution in IT Services Industry - In the IT services sector, there are 153 listed companies, with an average secretary salary of 699,200 yuan, ranking 68th among 125 secondary industries [1] - The average salary for IT services secretaries decreased by 43,900 yuan compared to the previous year, ranking 105th in salary growth among 125 primary industries [1] - Among the 153 secretaries, 61 earn between 0-500,000 yuan, and 67 earn between 500,000-1 million yuan, indicating that over 80% earn below 1 million yuan [1] Highest and Lowest Salaries - The highest-paid secretary in the IT services industry is Zhou Liping from Wangsu Technology, earning 3.8818 million yuan, significantly higher than others [1] - The lowest-paid secretary among those in office since 2024 is Wang Leibing from Guozi Software, with a salary of 230,400 yuan [1] Age Distribution of Secretaries - The age distribution of secretaries ranges from 30 to 60 years, with the majority (83 out of 151) aged between 36-44 years, accounting for over 50% [3] - The highest average salary is found in the 48-year age group, with an average of 1.3083 million yuan, largely influenced by Zhou Liping's high salary [3] Educational Background - Among the 152 secretaries with available educational data, 83 hold master's degrees, and 59 hold bachelor's degrees, making up over 90% of the total [5] - The only secretary with a high school diploma is Cao Wei from Yakang Co., earning 667,300 yuan, only slightly lower than the average salary of those with bachelor's degrees [5] Relationship Between Salary and Stock Performance - An analysis of secretaries' salaries in the range of 0-1.5 million yuan shows that as salaries increase, the number of company surveys conducted also rises, from 30 to 120 [7] - However, stock price performance shows a significant negative correlation with secretary salaries, with corresponding annual price changes of 8.91%, 3.02%, and -3.37% [7]

Core Insights - The report highlights that as of July 29, 2024, there are 5,817 listed companies in the A-share market, with a total of 1,144 secretaries earning over 1 million yuan, accounting for over 21% of the total [1] - The total remuneration for A-share secretaries reached 4.086 billion yuan in the previous year, with an average salary of 754,300 yuan [1] Industry Overview - In the IT services sector, there are 153 listed companies, with an average secretary salary of 699,200 yuan, ranking 68th among 125 secondary industries [1] - The average salary for IT services secretaries decreased by 43,900 yuan compared to the previous year, ranking 105th in salary growth among 125 primary industries [1] Salary Distribution - Among the 153 secretaries in the IT services sector, 61 earn between 0-500,000 yuan, and 67 earn between 500,000-1 million yuan, indicating that over 80% earn below 1 million yuan [1] - The highest-paid secretary in the IT services sector is Zhou Liping from Wangsu Technology, with a salary of 3.8818 million yuan, significantly higher than others [1] - The lowest-paid secretary among those in office for the entire year is Wang Leibing from Guozi Software, with a salary of 230,400 yuan [1] Age and Education Insights - The age distribution of secretaries ranges from 30 to 60 years, with a central age range of 36-44 years, comprising 83 individuals, over 50% of the total [3] - The highest average salary is found in the 48-year age group, at 1.3083 million yuan, largely driven by Zhou Liping's high salary [3] - The oldest secretary is Chen Fuxing from China Software, aged 60, while the youngest is Zhang Tiejian from Hongjing Technology, aged 30 [5] - Among the secretaries, 83 hold a master's degree, and 59 hold a bachelor's degree, with a total of 142 individuals (over 90%) having at least a bachelor's degree [5] Salary and Stock Performance Relationship - An analysis of secretary salaries in the IT services sector shows a negative correlation with stock price performance, with stock price changes of 8.91%, 3.02%, and -3.37% corresponding to salary ranges of 0-1.5 million yuan [7]

Core Insights - The report highlights that as of July 29, 2024, there are 5,817 listed companies in the A-share market, with a total of 1,144 secretaries earning over 1 million yuan, accounting for over 21% of the total [1] - The total salary for A-share secretaries reached 4.086 billion yuan in the previous year, with an average salary of 754,300 yuan [1] Salary Distribution in IT Services Industry - The IT services sector has 153 listed companies, with an average secretary salary of 699,200 yuan, ranking 68th among 125 secondary industries [1] - The average salary for IT service secretaries decreased by 43,900 yuan compared to the previous year, ranking 105th in salary growth among 125 primary industries [1] - Among the 153 secretaries, 61 earn between 0-500,000 yuan, and 67 earn between 500,000-1 million yuan, indicating that over 80% earn below 1 million yuan [1] Top and Bottom Salaries - The highest-paid secretary in the IT services sector is Zhou Liping from Wangsu Technology, earning 3.8818 million yuan, significantly higher than others [1] - The lowest-paid secretary among those in office for the entire year is Wang Leibing from Guozi Software, with a salary of 230,400 yuan [1] Age Distribution of Secretaries - The age distribution of secretaries ranges from 30 to 60 years, with the majority (83 out of 151) aged between 36-44 years, accounting for over 50% [3] - The highest average salary is found in the 48-year age group, at 1.3083 million yuan, largely driven by Zhou Liping's high salary [3] Educational Background - Among the 152 secretaries with available educational data, 83 hold master's degrees, and 59 hold bachelor's degrees, making up over 90% of the total [5] - The only secretary with a high school diploma is Cao Wei from Yacon Co., earning 667,300 yuan, only slightly below the average salary of those with bachelor's degrees [5] Salary and Stock Performance Relationship - An analysis of secretary salaries in the IT services sector shows a negative correlation with stock price performance, with stock price changes of 8.91%, 3.02%, and -3.37% corresponding to salary ranges of 0-1.5 million yuan [7]

从年龄角度来看，除去2位年龄信息缺失的董秘之外，其余151位董秘的年龄分布在30到60岁之间，其年 龄分布中枢在36-44岁之间，位于该年龄段人数高达83人，占比超过五成。而高薪年龄段为48岁，平均 薪酬水平为130.83万元。该年龄段的平均薪酬主要由网宿科技董秘周丽萍的388.18万元的高薪拉动。据 悉，周丽萍今年48岁，本科学历，自2011年7月开始担任公司董秘。 其中，年龄最大的董秘为中国软件陈复兴，今年60岁，于2004年3月开始担任公司董秘。其次是东华软 件林文平，今年58岁，于2023年6月开始担任公司董秘。IT服务行业年龄最小的董秘为宏景科技的张铁 舰，今年30岁，于2024年11月开始任职。 从学历角度来看，除去1位学历信息缺失的董秘之外，其余152位董秘中硕士学历最多，为83位，其次是 本科学历，为59位，合计142位，占比超九成。值得注意的是，唯一一位高中学历董秘为亚康股份曹 伟，2024年薪酬为66.73万元，仅比本科学历董秘平均薪酬低1.76万元。 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% 数据显示，截止7月29日，A股市场共有5817家上市公司 ...

从年龄角度来看，除去2位年龄信息缺失的董秘之外，其余151位董秘的年龄分布在30到60岁之间，其年 龄分布中枢在36-44岁之间，位于该年龄段人数高达83人，占比超过五成。而高薪年龄段为48岁，平均 薪酬水平为130.83万元。该年龄段的平均薪酬主要由网宿科技董秘周丽萍的388.18万元的高薪拉动。据 悉，周丽萍今年48岁，本科学历，自2011年7月开始担任公司董秘。 其中，年龄最大的董秘为中国软件陈复兴，今年60岁，于2004年3月开始担任公司董秘。其次是东华软 件林文平，今年58岁，于2023年6月开始担任公司董秘。IT服务行业年龄最小的董秘为宏景科技的张铁 舰，今年30岁，于2024年11月开始任职。 从学历角度来看，除去1位学历信息缺失的董秘之外，其余152位董秘中硕士学历最多，为83位，其次是 本科学历，为59位，合计142位，占比超九成。值得注意的是，唯一一位高中学历董秘为亚康股份曹 伟，2024年薪酬为66.73万元，仅比本科学历董秘平均薪酬低1.76万元。 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% 数据显示，截止7月29日，A股市场共有5817家上市公司 ...

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% 其中，年龄最大的董秘为中国软件陈复兴，今年60岁，于2004年3月开始担任公司董秘。其次是东华软 件林文平，今年58岁，于2023年6月开始担任公司董秘。IT服务行业年龄最小的董秘为宏景科技的张铁 舰，今年30岁，于2024年11月开始任职。 从学历角度来看，除去1位学历信息缺失的董秘之外，其余152位董秘中硕士学历最多，为83位，其次是 本科学历，为59位，合计142位，占比超九成。值得注意的是，唯一一位高中学历董秘为亚康股份曹 伟，2024年薪酬为66.73万元，仅比本科学历董秘平均薪酬低1.76万元。 关于IT服务行业董秘薪酬与股价表现间的关系，我们选取0-150万元共三个薪酬段的数据进行考察。 可见，随着董秘薪酬逐渐提升，去年调研家数显著提升，分别为30次、46次、120次，而上市公司的股 价表现则与董秘薪酬呈现显著的负相关，对应股价年涨跌幅分别为8.91%、3.02%、-3.37%，或说明IT 服务行业上市公司董秘制度的有效性仍有提升空间。 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与 ...