时代电气(03898)发布公告，公司于近日收到中国国际金融股份有限公司出具的《关于更换株洲中车时 代电气股份有限公司持续督导保荐代表人的函》。作为公司首次公开发行股票并在科创板上市后的持续 督导保荐机构，中金公司对公司的持续督导期原定至2024年12月31日止。前述期限届满后因公司募集资 金尚未使用完毕，中金公司就相关事项继续履行持续督导义务。现廖汉卿先生因个人工作变动原因，不 再继续担任公司持续督导保荐代表人。为保证持续督导工作的有序进行，中金公司委派冯笑涵女士接替 廖汉卿先生担任公司的持续督导保荐代表人履行持续督导期的保荐工作。本次变更后，公司持续督导保 荐代表人为李鑫先生和冯笑涵女士。 ...

时代电气(03898)发布公告，公司于近日收到中国国际金融股份有限公司出具的《关于更换株洲中车时 代电气股份有限公司持续督导保荐代表人的函》。作为公司首次公开发行股票并在科创板上市后的持续 督导保荐机构，中金公司（601995）对公司的持续督导期原定至2024年12月31日止。前述期限届满后因 公司募集资金尚未使用完毕，中金公司就相关事项继续履行持续督导义务。现廖汉卿先生因个人工作变 动原因，不再继续担任公司持续督导保荐代表人。为保证持续督导工作的有序进行，中金公司委派冯笑 涵女士接替廖汉卿先生担任公司的持续督导保荐代表人履行持续督导期的保荐工作。本次变更后，公司 持续督导保荐代表人为李鑫先生和冯笑涵女士。 ...

Market Overview - The Hang Seng Index closed up by 0.12% while the Hang Seng Tech Index fell by 0.73% [1] - The Hong Kong Tech ETF (159751) decreased by 1.16% and the Hang Seng Hong Kong Stock Connect ETF (159318) dropped by 0.22% [1] Sector Performance - The passenger airline and communication equipment sectors showed the highest gains [1] - The electrical equipment, hotel, and resort REIT sectors experienced the largest declines [1] Individual Stock Movements - China Eastern Airlines saw an increase of 8.08%, while Zhaojin Mining rose by 6.21% [1] - China Southern Airlines increased by 5.57% and Air China rose by 4.75% [1] - E-Hi Car Services fell by 10.73%, and Cao Cao Mobility dropped by 12.35% [1] - MicroPort Medical increased by 7.5% [1]

新华财经北京12月18日电 科创板两大股指18日早间均显著低开，科创综指低开约0.76%，科创50指数低 开约0.8%。 开盘后，科创综指迅速反弹，小幅转涨后开始震荡整理，午后出现较大幅度回落，收盘时显著下跌。至 收盘时，科创综指收于1568.22点，跌幅0.87%，总成交额约1604亿元，较上一交易日显著缩量。 经新华财经统计，12月18日，科创板597股平均涨幅0.06%，平均换手率2.48%，合计成交额1603.62亿 元，平均振幅为4.01%。 个股表现方面，嘉和美康收于涨停，涨幅居首；浙海德曼收于跌停，跌幅居首。 成交额方面，沐曦股份成交额54.08亿元，位居首位；中科微至成交额637.46万元，位居末位。 换手率方面，沐曦股份换手率为37.71%，位居首位；龙腾光电、中科微至换手率均为0.16%，同居末 位。 （文章来源：新华财经） 科创50指数盘初窄幅整理后有所反弹，但未能回补与上一交易日之间缺口，盘中震荡下行，午后上攻未 果后再次震荡走低，至收盘时显著下跌。科创50指数收盘报1305.97点，跌幅1.46%，成分股总成交额约 387亿元，较上一交易日大幅缩量。 当日，科创板个股涨少跌多，277 ...

（文章来源：证券日报） 证券日报网讯 12月17日晚间，鼎汉技术发布公告称，公司2025年第二次临时股东会审议通过《关于变 更公司注册资本并修订的议案》等多项议案。 ...

Group 1 - The core viewpoint of the news is that China Merchants Bank's Shanghai branch has successfully assisted Shanghai Electric Group in returning to the interbank bond market after five years, issuing a total of 1 billion yuan in bonds with a 3-year term and a coupon rate of 1.85% [1][2] - The funds raised from this bond issuance will be used to repay acquisition loans and enhance control over two important subsidiaries, marking a significant step in supporting state-owned enterprises and aligning with national policies [1][2] - This issuance represents the first batch of merger notes in the country and the first in Shanghai, showcasing the bank's commitment to serving the real economy and facilitating corporate mergers and acquisitions [1][2] Group 2 - The dual-label model of "merger notes" and "technology innovation bonds" is an innovative practice by China Merchants Bank, aimed at addressing the financing needs of enterprises in technology innovation and industrial mergers [2] - This product is designed to help companies optimize their financial structure, reduce financing costs, and focus on core businesses while enhancing support for subsidiaries in governance, technology, market, and branding [2] - The successful implementation of this innovative business model reflects the bank's responsibility in promoting industrial structure upgrades and providing efficient financial support for direct financing markets [2]

桌上放着几千亿白花花的银子，能解燃眉之急，为什么欧洲这帮人就是死活不敢碰？ 是怂了，还是背后有咱们看不懂的大棋？ 这事儿，比表面上看到的要复杂得多，简直就是一出现实版的"权力的游戏"。 故事得从一个叫Euroclear的地方说起。 这地方在比利时，听着像个普通银行，但它其实是全球金融的"总开关"之一。 现在，这个"总开关"里头，卡着一颗天大的炸弹——将近1900亿欧元的俄罗斯资产。 所有人都盯着这笔钱，乌克兰等着它救命，美国在旁边敲锣打鼓，高喊"赶紧用啊！"可偏偏，掌控这笔钱的欧洲人，一个个吓得脸都白了。 比利时首相急得都快公开喊话了：你们谁敢动这笔钱，要是我的金融系统崩了，你们谁来赔？ 现场鸦雀无声。 Euroclear的掌门人更是把话挑明了，他说，只要敢没收，俄罗斯的反击诉讼能把我们整个机构告到破产。 这不是开玩笑，这是在拿整个欧洲的金融信誉当赌注。 你可能会觉得，这不就是钱的事儿嘛，至于这么夸张？ 这就得说说美国那边了。 山姆大叔看欧洲磨磨唧唧，自己先动手了。 2024年4月，他们通过了一个叫《REPO法案》的东西，说白了就是给了总统一个"合法抢钱"的权力，可以直接没收在美国的俄罗斯资产。 455票反对 ...

Core Viewpoint - Zhejiang Fu Holdings announced the total approved guarantee amount for its consolidated subsidiaries is 5.5 billion yuan, with a guarantee balance of approximately 1.18 billion yuan, representing 10.43% of the company's latest audited net assets [1] Summary by Categories - **Guarantee Amounts** - The total approved guarantee amount for consolidated subsidiaries is 5.5 billion yuan [1] - The guarantee balance stands at 1.17705 billion yuan [1] - The guarantee balance accounts for 10.43% of the company's most recent audited net assets [1] - **Subsidiary Guarantees** - The cumulative guarantee balance for subsidiaries within the consolidated scope is 628.74433 million yuan [1] - **External Guarantees and Legal Issues** - The company and its controlling subsidiaries do not provide guarantees to entities outside the consolidated scope [1] - There are no overdue external guarantees or guarantees involved in litigation [1] - The company has not incurred losses due to guarantees resulting in adverse judgments [1]

Core Insights - The global market for AC drives (inverters) is projected to grow from approximately $20.038 billion in 2024 to $24.212 billion by 2031, with a compound annual growth rate (CAGR) of 2.6% from 2025 to 2031 [3][5]. Market Overview - The major manufacturers of AC drives include ABB, Siemens, Inovance, Schneider Electric, Yaskawa Electric, Rockwell Automation, Danfoss, Fuji Electric, Mitsubishi Electric, and Delta Electronics [5]. - The top five manufacturers are expected to hold about 45.0% of the market share in 2024 [5]. Product Type Segmentation - Low and medium voltage inverters currently dominate the market, accounting for approximately 62.3% of the total market share [8]. Application Segmentation - The petrochemical industry is the primary source of demand for AC drives, representing about 17.5% of the market [11]. Market Dynamics - Key drivers for the AC drives market include the increasing global demand for energy efficiency and the promotion of energy-saving policies. The rise in energy costs and the implementation of carbon neutrality goals are leading industries to adopt inverters for precise control of motor speed and torque, significantly reducing energy consumption [15]. - The acceleration of industrial automation and smart manufacturing is also driving the widespread application of inverters in production lines, conveyor systems, and process control [15]. Challenges - The market faces challenges such as high initial investment costs, particularly for small and medium-sized enterprises, which can deter widespread adoption [16]. - There is a strong reliance on specialized knowledge and skilled personnel for the selection, configuration, integration, and maintenance of inverters, which can limit market expansion [17]. Opportunities - The AC drives industry is poised for unprecedented growth opportunities driven by global energy transitions and industrial digitization. The demand for energy-saving retrofits under carbon reduction strategies presents a significant market opportunity [18]. - The advancement of Industry 4.0 and smart manufacturing is opening new avenues for value enhancement, as modern inverters evolve into intelligent nodes capable of predictive maintenance and energy management [18]. - Emerging industries such as electric vehicles, photovoltaic manufacturing, and data center cooling systems are creating substantial demand for high-precision and reliable inverters, providing lucrative profit growth points [18]. Industry Chain - The AC drives industry chain is well-defined, with upstream components including power modules, microprocessors, and other essential materials. The midstream involves core manufacturing and R&D, while the downstream penetrates various industrial and some civilian sectors, emphasizing the importance of energy savings and process control [19].

（文章来源：证券日报） 证券日报网讯 12月17日，科华数据在互动平台回答投资者提问时表示，公司以"以智慧电能驱动低碳数 字未来"为使命，致力成为全球卓越的智慧电能解决方案提供商。公司充分把握国家"人工智能+""数字 经济""碳中和"等战略机遇及全球能源转型趋势，以电力电子技术为核心，在"智算中心""智慧电能""清 洁能源"三大领域持续融合创新，积极开拓市场。公司将持续努力做好经营回报投资者。 ...