为深入贯彻落实投资者保护理念，陕西证券期货业协会于5月15日全国投资者保护日之际，联合西部证券、开源证券、中邮证券、西部期货、长安期货、迈 科期货六家机构，在西安地铁3号线启动为期一个月的"心系投资者，携手共行动"主题宣传活动。本次活动通过地铁车厢沉浸式的视觉化投教场景，将专业 金融知识转化为通俗易懂的公众语言，日均触达十万级客流，为市民打造"移动金融知识课堂"。 多主题联动，构建投教立体网络 活动以6节主题车厢为载体，形成差异化内容矩阵。西部证券车厢聚焦"基础投资服务"，通过中国境内三大证券交易所介绍、证券知识图解及反洗钱专栏， 帮助乘客厘清投资逻辑；开源证券车厢围绕"诉千年古都余韵，守投教为民信言"，将秦风唐韵文化融入金融教育肌理，借助"唐风小人"形象，构建传统与现 代交融的投教新范式；西部期货车厢以"期货知识科普"为核心，通过期货与现货对比表、防诈口诀顺口溜等内容，破解公众对衍生品市场的认知误区；长安 期货重点解析"防范非法证券期货活动六要六不要"，以案例警示强化理性投资意识；迈科期货以"风险防控"为主线，通过"高收益伴随高风险""警惕非法金 融陷阱"等警示标语，筑牢市民财产安全防线；中邮证券则以"投资 ...

2024年12月27日，沪、深、北交易所同步发行的《公司债券发行上市审核指引——专项品种公司债券（2024年修 订）》，对公司债券市场创新债券品种发行上市审核规则体系进行了更新。其中，科创债市场提升了科创企业类 发行人认定指标，也拓宽了科创投资类、科创孵化类发行人主体范围。（南木） 无论是从承销家数还是承销金额来看，排名前5名均依次为中信证券、中信建投、国泰海通、中金公司以及华泰联 合。值得一提的是，今年5月7日，2025年5月7日，央行、证监会发布《关于支持发行科技创新债券有关事宜的公 告》，其中提到支持金融机构、科技型企业、私募股权投资机构和创业投资机构发行科技创新债券。而后，银 行、券商等相继发行科创债，科创债在市场上获得较高的关注度。不过，早在2021年3月，科创债试点工作正式启 动。在发展初期，监管层将科创债纳入创新创业债框架，引导优质企业发行科创用途公司债券。 2022年5月，中国银行间市场交易商协会发布《关于升级推出科创票据相关事宜的通知》，上海证券交易所和深圳 证券交易所分别发布《上海证券交易所公司债券发行上市审核规则适用指引第4号——科技创新公司债券》和《公 司债券创新品种业务指引第6号—— ...

Group 1 - The core event is the "Investment Education Protection: Guangdong Investment Strategy" micro-video competition, which was organized by the Guangdong Securities and Futures Industry Association, Southern Metropolis Daily, and Bay Finance Society, culminating in the announcement of winners just before the "5.15 National Investor Protection Publicity Day" [2][3] - The competition attracted 75 submissions from financial institutions in Guangdong (excluding Shenzhen), focusing on themes such as serving the real economy, investor protection, and social responsibility [2] - The awarded works addressed current financial market pain points, including AI scams, elderly investment traps, and the popularization of new financial products, utilizing innovative formats like short dramas and animations to make professional knowledge accessible to the public [2][3] Group 2 - A total of 19 works were awarded from the 75 entries, showcasing diverse themes, vibrant presentation styles, and profound educational content, effectively responding to the new "National Nine Articles" requirements for enhancing investor education [3] - The winning entries demonstrated a keen awareness of market pain points such as AI scams and the emotional needs of different age groups, employing innovative formats to engage audiences [3][4] Group 3 - The first prize-winning work, "Old Wu's Investment Journey: Companionship is the Best Prevention," highlights the emotional scams targeting elderly investors, emphasizing the importance of family companionship in fraud prevention [4] - The second prize-winning work, "AI Algorithm? Human Algorithm!" reveals the underlying logic of scams exploiting human greed through a hacker's perspective, combining technological insight with cautionary messages [5][6] - The third prize-winning works include "The Self-Narration of ST Stocks," which uses a personified approach to explain delisting rules and investment risks, and "315 Financial Anti-Fraud: Unveiling 'Fake' Securities Apps," which educates viewers on identifying fraudulent applications [8][9]

Core Viewpoint - The People's Bank of China, along with other regulatory bodies, is preparing to launch a "Technology Board" in the bond market to support the issuance of technology innovation bonds by financial institutions, technology companies, and equity investment institutions, which has led to a surge in issuance activity in the capital market [2][3]. Group 1: Issuance Activity - From May 6 to May 15, a total of 85 technology innovation bonds were issued, amounting to approximately 135.8 billion yuan, with issuers from various sectors including new materials, information technology, finance, biomedicine, and electrical equipment [2]. - The bonds predominantly have medium to long-term maturities, with over 60 bonds having terms of 3 years or more [2]. - The issued technology innovation bonds feature low coupon rates, generally around 2%, and high subscription multiples, indicating strong investor confidence in the credit quality of the issuers [5][8]. Group 2: Market Demand and Characteristics - The issuance of technology innovation bonds is driven by both policy guidance and market demand, filling a financing gap for high-tech and strategic emerging industries [3]. - The current economic transformation and accelerated technological innovation have increased the demand for financing tools that support technology companies, making technology innovation bonds attractive to investors [3][10]. - The bonds are perceived as a new investment category with a combination of credit premium and policy support, making them appealing in a low-interest-rate environment [3][10]. Group 3: Investor Perspective - Despite the coupon rates being around 2%, technology innovation bonds are still attractive to institutional investors due to their relatively low risk and strong credit backing [8][12]. - Innovative bond terms, such as expected yield pledges and intellectual property pledges, are expected to enhance the investment value and flexibility of these bonds [8][10]. - The market for technology innovation bonds is anticipated to expand significantly, with projections suggesting annual issuance could exceed 300 billion yuan within the next 1-2 years as more entities participate [10].

苏州光格科技股份有限公司董事会 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性依法承担法律责任。 2025年5月16日 苏州光格科技股份有限公司（以下简称"公司"）于近日收到中信证券股份有限公司（以下简称"中信证 券"）出具的《关于更换保荐代表人的函》。 王勤女士简历 中信证券作为公司首次公开发行股票持续督导工作的保荐人，原保荐代表人为王建文先生、李天智先 生，鉴于李天智先生工作变动，不再担任公司首次公开发行股票持续督导工作的保荐代表人，中信证券 现委派保荐代表人王勤女士（简历详见附件）接替李天智先生担任公司首次公开发行股票持续督导工作 的保荐代表人，继续履行持续督导职责，相关业务已交接完毕。 本次变更后，公司首次公开发行股票持续督导工作的保荐代表人为王建文先生和王勤女士，本次变更不 影响中信证券对公司的持续督导工作。 公司董事会对李天智先生在担任公司保荐代表人期间所做的工作表示衷心感谢。 特此公告。 王勤，女，硕士研究生学历，现任中信证券全球投资银行管理委员会副总裁，保荐代表人，主要负责或 参与了臻镭科技IPO、光格科技IPO、泰坦科技IP ...

此次活动采用"健步走+知识通关"模式，环湖步道沿途设置证券、银行、保险、期货、信托等17个金融 机构特色展位，重点聚焦防范非法金融活动主题，通过模拟荐股骗局、拆解假冒金融机构话术、剖析伪 金融中介套路等情景互动，让参与者身临其境识别非法金融活动陷阱。在公安机关与基层治理单位的展 位上，工作人员聚焦当前高发经济犯罪领域，运用案例剖析、风险预警、防范指南等多种形式深化群众 认知，有效提升公众风险识别能力。参与者手持定制打卡地图，每完成相应站点的知识挑战即可获得一 枚刻有甘肃人文景观的印章。参与者仿佛手持通关文牒，完成各类"识破非法集资陷阱""破解股市黑嘴 迷局""揭穿养老理财骗术"等情景挑战，让金融安全知识沿着千年丝路文脉流淌入心。 活动现场打造的沉浸式学习空间形成了立体防护网：知识普及区变身"金融术语解码站"，通过互动展板 破解各金融行业的专业概念；风险警示区架设"行业照妖镜"，集中呈现证券"非法荐股"、银行"非法中 介"、保险"代理退保"等不同领域典型非法案例；咨询答疑区设立"纠纷化解指南针（300803）"，现场 演示"调解－仲裁－诉讼"三级维权路径，特别公示甘肃辖区调解机构，为金融消费者和投资者的合法权 ...

Core Viewpoint - The release of the "Guiding Opinions" aims to strengthen judicial and administrative collaboration to promote high-quality development of the capital market, with a strong emphasis on investor protection [1][4]. Investor Protection - Investor protection is prioritized, with regulations requiring financial institutions to compensate investors for losses incurred due to inadequate suitability management when recommending products [1][8]. - The "Guiding Opinions" explicitly state that severe penalties will be imposed for financial fraud, including fraudulent issuance and improper information disclosure, with criminal liability for third parties involved in such fraud [1][4][9]. Legal and Regulatory Framework - The document outlines 23 specific opinions across five areas, including overall requirements, investor protection, market participant norms, judicial-administrative collaboration, and implementation guarantees [1][4]. - It emphasizes the need for courts to protect investors' rights, including the right to information, participation in major decisions, and fair market participation based on accurate disclosures [4][5]. Judicial Efficiency and Access - The "Guiding Opinions" promote streamlined processes for representative lawsuits, allowing investor protection agencies to initiate lawsuits on behalf of groups of investors, thereby enhancing litigation efficiency [5][6]. - Various channels for investor feedback and rights protection, such as consultation hotlines and online services, are encouraged to ensure investors can express their opinions and access their rights [6][14]. Cross-Border and International Cooperation - The document indicates ongoing efforts to establish judicial frameworks for cross-border securities and futures disputes, ensuring equal protection for domestic and foreign investors [12][13]. - It highlights the importance of international judicial cooperation to reduce the costs of rights protection for investors [13]. Whistleblower Protection - Enhanced protections for whistleblowers in the capital market are mandated, ensuring their employment rights and fair treatment are safeguarded [10].

陕西证券期货业协会、陕西上市公司协会及行业纠纷调解中心对辖区2024年度投资者教育、投资者关系 管理、证券期货纠纷调解方面表现突出的会员单位、律师事务所及个人进行表彰。陕西证券期货行业纠 纷调解中心向2家市场主体成立的调解工作室授牌。 5月15日，陕西证监局组织辖区行业协会和市场主体在西安市举办2025年"5·15全国投资者保护宣传 日"系列活动启动仪式，陕西省委金融办、陕西金融监管局、西安市公安局莲湖分局相关负责同志出席 活动，辖区部分上市公司、证券期货经营机构、中介服务机构等百余名人员参会。 陕西证监局相关负责同志指出，过去一年陕西证监局坚决贯彻落实证监会投资者保护工作部署，牢固树 立投资者是市场之本的工作理念，通过完善内部机制，强化监管协同，围绕全面深化资本市场改革重点 工作和辖区实际，构建"事前教育、事中监管、事后救济"的全流程投保工作机制，持续深化诉源治理和 多元纠纷化解工作机制，推动畅通投资者维权救济渠道，综合施策提升辖区投资者保护工作质效，构建 良好资本市场投融资生态，服务经济社会高质量发展。 辖区各行业机构统一行动，以"智造赋能投教 智慧守护权益"为主题，在西安市大唐西市广场开展投教 户外宣传 ...

2025年5月7日，《推动公募基金高质量发展行动方案》（以下简称《行动方案》）发布，给券商研究所 带来了"冲击波3.0"。而在此之前的近两年以来，券商研究所已遭"两连击"：2023年7月公募基金费率改 革（以下简称"公募费改"）的首轮冲击；同年12月《关于加强公开募集证券投资基金证券交易管理的规 定》发布后的"降佣第二弹"。 "公募变革下公募基金大洗牌，受其影响，券商研究所佣金分仓收入持续缩水，研究所也将随之洗 牌。"某券商研究所所长表示。 据其分析，券商研究所洗牌将呈现三大趋势。 首先，由于增效困难，研究所将优先降本，采取降薪减员等措施；其次，展业方面，券商研究所将降低 卖方业务依赖度，侧重券商内部业务协同，以及集团、股东资源拓展。再者，中长期来看，一些中小券 商研究所将逐步退出卖方业务，转为对内服务，乃至被裁撤或合并。 值得注意的是，此轮《行动方案》只是新一轮公募变革的"前奏"，未来还将有至少20余项配套政策陆续 出台。随着更多政策的到来，此轮公募变革的力度将持续提升。对于券商研究所来说，则意味着"冲击 波"的日渐强化。 多位券商研究所所长告诉21世纪经济报道记者，公募费改使券商研究所佣金由"万八降至万四 ...

5月15日，最高人民法院和中国证券监督管理委员会结合人民法院审判执行工作以及资本市场监管执法 工作实际，起草了《关于严格公正执法司法 服务保障资本市场高质量发展的指导意见》（以下简称"指 导意见"）。 | 最高人民法院 中国证券监督管理委员会印发《关于严格公正执法司法 服务保障资本市场高质量发展的指导意 见》的通知 | | --- | | 日期:2025-05-15 来源:证监会 【字号:大 中 小】 号 号 (6) ( | | 法发〔2025〕9号 | | 各省、自治区、直辖市高级人民法院,新疆维吾尔自治区高级人民法院生产建设兵团分院;中国证监会各派出机构、各交易所、各下属单位、各协 | | 合: | | 最高人民法院和中国证券监督管理委员会结合人民法院审判执行工作以及资本市场监管执法工作实际,起草了《关于严格公正执法司法 服务保 | | 障资本市场高质量发展的指导意见》,现印发你们。 | | 请结合实际予以贯彻落实,强化司法与行政协同,共同服务保障资本市场高质量发展, | | 最高人民法院 中国证券监督管理委员会 | 在指导意见中，证监会重点强调了引领净化资本市场生态。日前，南都曾报道干扰资本市场生态的荐 ...