金十数据整理：昨日今晨重要新闻汇总（6月11日） 1. 中美经贸磋商机制首次会议进入第二天。会议从上午开始，在午餐后继续进行。 2. 习近平同韩国总统李在明通电话。 3. 郑州：将暂停消费品以旧换新家电产品补贴申领。 4. 辽宁舰、山东舰航母编队赴西太平洋等海域开展训练。 5. 比亚迪、广汽、东风等多家车企承诺将支付账期统一至60天内。 6. 市场监管总局就《直播电商监督管理办法》面向社会公开征求意见。 7. 腾讯音乐拟收购喜马拉雅100%股权，喜马拉雅回应收购称"四个不变"。 8. 商务部：对原产于欧盟的进口相关猪肉及猪副产品反倾销调查的调查期限延长至2025年12月16日。 9. 中办、国办印发《关于深入推进深圳综合改革试点 深化改革创新扩大开放的意见》：允许在港上市 的粤港澳大湾区企业，按照政策规定在深交所上市。 国内新闻： 2. 特朗普：洛杉矶骚乱事件是"外国入侵"。 3. 英国等五国宣布制裁2名以色列极右翼部长。 4. 白宫辟谣财长贝森特是下一届美联储主席人选。 5. 黑石集团计划在未来十年内在欧洲投资5000亿美元。 6. 俄驻美大使：俄美新一轮会谈将于近期在莫斯科举行。 7. 津巴布韦矿业部长： ...

Core Viewpoint - The current trend in the U.S. Treasury market, particularly the steepening trade, is seen as a potential risk, with significant bets on long-term yields rising faster than short-term yields, which could lead to painful outcomes for investors [2][5]. Group 1: Market Trends - Data from BNP Paribas indicates that the market's bias towards steepening trades has reached a ten-year high, signaling potential danger [2]. - Since early April, long-term bond yields have been on the rise, with the 30-year Treasury yield peaking at 5.15% on May 22, 2023, before retreating to around 4.912% [2]. Group 2: Investor Sentiment - Concerns are growing regarding upcoming Treasury auctions, with each auction now perceived as a risk event, where a weak auction could lead to market turmoil [5]. - Despite fears of a deteriorating fiscal situation, demand for 10-year and 30-year Treasury auctions has remained relatively strong, contradicting the panic over foreign investors selling U.S. debt [5]. Group 3: Strategic Recommendations - BNP Paribas suggests using options-based trading strategies to bet on long-term rates outperforming short-term rates in a generally declining interest rate environment, viewing the 30-year Treasury as having buying value [5].

General Provisions - The company aims to protect the legal rights of the company, shareholders, and creditors, and to regulate its organizational behavior according to relevant laws and regulations [2][4] - The company was established with approval from the Shanghai Municipal Construction Committee and has undergone registration with the Shanghai Market Supervision Administration [2][3] - The registered capital of the company is RMB 1,359,912,218 [3] Business Objectives and Scope - The company's business objective is to promote the development of the Waigaoqiao Free Trade Zone by leveraging favorable conditions and policies, attracting domestic and foreign investment, and introducing advanced international technology and management experience [6] - The business scope includes real estate development, bonded trade, international freight forwarding, and various consulting services [6] Share Issuance - The company issues shares in the form of stocks, with A-shares denominated in RMB and B-shares in USD [7] - The total number of ordinary shares approved for issuance is 1,359,912,218, with a current structure of 1,159,354,718 RMB ordinary shares and 200,557,500 domestic listed foreign shares [7][8] Shareholder Rights and Obligations - Shareholders have rights to dividends, attend meetings, supervise company operations, and transfer their shares [13][38] - Shareholders holding more than 5% of voting shares must report any pledges of their shares to the company [39] Shareholder Meetings - The company holds annual shareholder meetings within six months after the end of the fiscal year, and temporary meetings can be called under specific circumstances [45][46] - The company must provide adequate notice of meetings, including time, location, and agenda, ensuring transparency and participation [58][59] Voting and Resolutions - Resolutions can be classified as ordinary or special, with ordinary resolutions requiring a simple majority and special resolutions requiring a two-thirds majority [77][79] - Shareholder votes on significant matters affecting minority investors must be counted separately and disclosed [80]

华宝证券出品的2025中国金融产品年度报告《生态跃迁》，已经正式发布了。这是我们 连续第 十四年 发布这个报告。 图：2025中国金融产品年度报告封面 每当这份沉甸甸的报告最终成稿，我们的心中总会涌起一种满满的收获感。这不仅是对过去一 年辛勤耕耘的总结，更是对未来探索的期待。十四年的坚守与沉淀，见证了市场的风云变幻， 也见证了我们在专业道路上的稳步前行。 去年的金融产品年度报告中，我们首次提出 财富与资管行业迈向服务化 的转型方向。令人欣慰 的是，这一理念在业内引发了广泛共鸣。回首2024年，我们也清晰地看到，整个行业在这条转 型之路上已然迈出了坚实的步伐，不断探索前行。 然而，迈向服务化的进程并非单个机构的孤立行动，而是需要整个行业的协同共进，需要财富 生态的重构与升级。这是一场全方位、深层次的蜕变，我们将其称之为生态跃迁—— 这就是今 年我们报告的主题。 作为金融市场深刻变革的见证者和参与者，我们深知， 研究服务的价值不仅在于洞察趋势，更 在于搭建认知跃迁的阶梯。 优秀的研究应该如同一盏明灯，照亮前行的道路，帮助从业者们从 纷繁复杂的市场变化中捕捉到那些关键的信号，为行业转型提供坚实的方向指引。 未来， ...

近日，长鸿会在品牌、信用、资本等多个维度频传喜讯——其在中国内地的运营主体长鸿会(重庆)商业 运营管理有限公司，继成功入选国家级品牌工程"品牌强国"之后，再度荣获企业信用与资信"双AAA等 级认证"；同时，长鸿会旗下香港长鸿投资资产管理有限公司的上市工作也已进入实质性阶段，最快将 于本月底在香港股权交易中心完成挂牌。 一系列权威背书和资本动作，标志着长鸿会正从一个高速成长的智能投资平台，迈入品牌力、信用力、 资本力三位一体的新阶段。 品牌力再上台阶：入选"品牌强国·自主品牌优选工程" 5月中旬，长鸿会(重庆)商业运营管理有限公司凭借其在金融投资、营销拓展和团队建设方面的综合实 力，成功入选由中央广播电视总台栏目组主办的《品牌强国·自主品牌优选工程》。 该工程以"推动中国品牌全球影响力"为核心，遴选对象需具备稳定经营记录、社会信誉良好、行业地位 突出、创新能力强等综合指标优势。 长鸿会作为近年来新兴的智能操盘与金融服务平台，以"金融+实体"协同发展模式在业内形成差异化路 径，赢得了权威认可，也被认为是推动金融服务产业生态升级的典范力量之一。 紧接着，长鸿会再获重磅荣誉——企业信用等级AAA证书与企业资信等级AA ...

上海华鑫股份有限公司章程 第一章 总 则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和 行为，充分发挥中国共产党上海华鑫股份有限公司委员会（以下简称"公司党委"） 的领导核心与政治核心作用，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》 《中国共产党章程》 （以下简称《党章》）和其他 有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下 简称"公司"）。 公司经上海市经济委员会批准，以社会募集方式设立；在上海市工商行政管 理局注册登记，取得营业执照, 统一社会信用代码 9131000013220382XX。 公司根据国务院国发（1995）17 号文和上海市沪体改委（1996）16 号文的 精神，对照《公司法》进行了规范，通过自查和整改已依法履行了重新登记手续。 第三条 公司于 1992 年 5 月经中国人民银行上海市分行（92）沪人金股字 第 33 号文批准，首次向社会公开发行人民币普通股 5,099.3 万股。并于 1992 年 12 月 2 日于上海证券交易所上市。 第四条 公司注册名称： 【中文全称】上海华鑫股 ...

北京商报讯（记者 李秀梅）6月9日，保险资管业协会发布《中国保险资产管理业2025年助力乡村振兴 倡议书》。 保险资管业协会表示，深入开展消费帮扶，持续巩固拓展脱贫攻坚成果。鼓励会员单位开展消费帮扶助 农增收，积极参与农副产品推广，拓宽农产品销售渠道；为定点帮扶地区建立健全优质农产品生产基 地，扩大绿色、有机和名特优新产品规模，推进现代农业全产业链标准化，增强市场竞争力和可持续发 展能力；发挥保险保障功能，发展优势特色农产品保险，补充对脱贫不稳定户、边缘易致贫户以及突发 严重困难户优惠政策。 加大乡村建设力度，打造宜居宜业和美乡村。鼓励会员单位协助定点帮扶地区实施农村水、电、路等基 础设施提升工程，完善农村教育、医疗、养老等公共服务体系建设，推进数字化赋能乡村治理，改进农 业工业技术装备，培育农业产业化联合体，将新型农业经营主体和涉农企业扶持政策与带动农户增收挂 钩，把产业增值收益更多留给农民。 稳步推进产业振兴，增强内生发展动力。鼓励会员单位围绕县域资源禀赋特点和发展规划，帮助定点帮 扶地区挖掘农业农村特色资源，发展教育农园、农研基地、农业电商和乡村文旅等新业态；积极支持劳 动密集型富民产业发展，强化产业发 ...

Group 1 - Meituan is accelerating its overseas expansion plans, with Dubai as the first international trial site for its drone delivery service, having obtained the first commercial operation certification for drone delivery in Dubai by December 2024 [2] - PingPong has received preliminary approval from the Central Bank of the UAE to operate, which will enable it to provide a range of services including local remittance and cross-border transfers for local and global businesses [2] - Gaw Capital plans to increase investments in the Middle East, having recently invested over $150 million in a residential building in Abu Dhabi and signed agreements to explore the development of a life sciences park in Dubai [2] Group 2 - JD Logistics has completed the delivery of its first logistics infrastructure project in the Jebel Ali Free Zone in Dubai [3] - Abu Dhabi has launched a unified economic license to enhance its competitiveness as a business-friendly destination, streamlining the registration process for economic licenses across the emirate and its free zones [3] - The UAE's non-oil private sector growth rate fell to its lowest level in nearly four years in May, with the Purchasing Managers' Index (PMI) dropping from 54.0 in April to 53.3 in May, indicating a slowdown in growth momentum despite strong demand [3] Group 3 - The UAE Ambassador to China attended a trade cooperation exchange meeting, where multiple cooperation agreements were signed, exploring potential collaboration opportunities between the UAE and Sichuan Province [4] - The Middle East tourism market is expected to grow significantly, with total tourism consumption projected to reach $350 billion by 2030, maintaining an annual growth rate of around 7% [4] - The first UAE Agriculture Conference and Exhibition concluded successfully, attracting over 10,000 attendees and resulting in several strategic agreements to support the agricultural sector [5] Group 4 - The UAE is seeking to negotiate a trade agreement with the US to reduce tariffs on steel and aluminum, as the UAE is a significant exporter of these products to the US [5] - The Comprehensive Economic Partnership Agreement (CEPA) between Cambodia and the UAE has shown initial positive results, with bilateral trade increasing by 5% year-on-year in 2024, reaching $91.14 million [5] - Qatar is projected to attract $2.74 billion in foreign direct investment (FDI) in 2024, with significant contributions from Chinese companies across various sectors [6] Group 5 - Qatar's tourism sector is expected to contribute 55 billion Qatari riyals (approximately $15.1 billion) to the GDP in 2024, marking a 14% increase from 2023, with 5 million international visitors anticipated [7] - HSBC Qatar is exploring various cooperation opportunities with the Hong Kong manufacturing association to support Qatar's economic diversification efforts [7]

编者按： 十载春华秋实，鉴往知来；十年星河璀璨，与光同行。自破茧初啼至引领风潮，"金长江"评选始终以专业 为炬、以公正为尺，丈量中国私募基金行业的奔腾浪潮。值此华章再启之际，证券时报·券商中国倾情推 出"金长江风华录·十年十人"，特邀十位穿越牛熊周期的行业翘楚，以躬身力行的灼见为经纬，以栉风沐雨 的征程为注脚，共同镌刻一部激荡人心的奋进诗篇。此间星霜，既见群峰竞秀，亦显大江奔流。 本期是"寻访金长江之十年十人"第六期。百亿私募日斗投资董事长王文接受了券商中国记者的专访。作为曾经 知名的牛散投资人，王文在各大投资论坛拥有不少粉丝，其投资经历颇具传奇色彩。 早在20世纪90年代，王文就开始炒股，他曾就职于农业农村部，走访调研过上百个县市。由于热爱投资，他毅 然从体制内辞职，开始帮亲友管钱，然后从小散到牛散，再到现在的百亿私募日斗投资。 让人惊叹的是，王文从一起步就走上了价值投资之路，在家电、煤炭、白酒等行业挖掘出一系列投资机会并重 仓持有，凭借30年的时间坚守，最终将雪球越滚越大，获得了巨大的复利效应。 在近两个小时的访谈中，王文金句频出，从价值投资聊到佛学、禅宗。在他看来，牛市是一种心态，今天不 来、明天不来、 ...

" 聪明钱 " 闻风而动 《金融时报》称，近几个月来，美国政府反复无常的贸易政策令全球市场动荡不安，今年美国股市的表 现远远落后于欧洲股市。美元指数也从特朗普开始第二任期时的110左右一路下滑到100以下。美元下跌 让全球投资者多了一个避开美债的理由。美国《华尔街日报》报道称，美元走弱的风险以及对冲这一风 险的成本，正削弱美国资产在全球的吸引力。这对美国国债市场而言可谓"雪上加霜"，该市场已经因美 国财政预算前景黯淡和贸易战承压。 在这一背景下，资金管理者正在重新考虑资产配置。包括加拿大魁北克储蓄投资集团、橡树资本等在内 的多家大型机构已开始减少对美投资，转向欧洲等更具稳定性的市场。英国资产管理公司施罗德首席执 行官理奥尔德菲尔德表示："我们观察到，投资者正逐渐减少对美国的投资。"管理着2030亿美元资产的 橡树资本联合创始人霍华德·马克斯也开始质疑美国市场的地位。他认为，一个世纪以来，美国一直是 世界最佳投资地，但现在开始听到投资者质疑"美国例外论"，并考虑调整投资组合。 英国《金融城早报》报道称，越来越多的客户要求投资巨头高盛将资金撤出美国。高盛公司客户解决方 案主管吉布森说："人们认为美国不再像之前那样 ...