本报讯 （记者毛艺融）9月30日，中国证券登记结算有限责任公司（以下简称"中国结算"）发布关于合格境外机构投资者 和人民币合格境外机构投资者参与股票期权有关事项的通知。 中国结算称，根据《合格境外机构投资者和人民币合格境外机构投资者境内证券期货投资管理办法》《关于合格境外机构 投资者和人民币合格境外机构投资者参与股票期权交易的公告》《中国证券登记结算有限责任公司合格境外机构投资者和人民 币合格境外机构投资者境内证券投资登记结算业务实施细则》，现就合格境外机构投资者和人民币合格境外机构投资者（以下 合称"合格境外投资者"）参与股票期权交易有关事项进行通知。 合格境外投资者自2025年10月9日起可参与交易型开放式指数基金期权（ETF期权）业务，相关登记结算业务办理方式详 见中国结算于2025年9月30日发布的《中国证券登记结算有限责任公司上海分公司股票期权试点结算业务指南》《中国证券登 记结算有限责任公司深圳分公司股票期权试点结算业务指南》。 中国结算表示，请各结算参与人等市场参与主体在开展合格境外投资者参与ETF期权业务前，认真做好业务技术准备，确 保相关业务平稳有序落地。 （编辑 李家琪 乔川川） ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月25日晚，湘财股份（600095）与大智慧（601519）各发布多份公告，正式披露换股吸收合并事项的 关键草案，标志着这两家企业的合并事项取得实质性进展。 根据公告，湘财股份拟通过换股方式吸收合并大智慧，并配套募集80亿元资金用于金融科技领域布局。 湘财股份的A股换股价格为7.51元/股，大智慧的A股换股价格为9.53元/股，换股比例为1：1.27（即大智 慧股东持有的每1股大智慧股票可以换取1.27股湘财股份股票）。 截至26日午间收盘，湘财股份涨5.34%，报12.83元/股；大智慧涨2.30%，报16.04元/股。 | 湘财股份 (600095) 画 | | | | | | | --- | --- | --- | --- | --- | --- | | 12.83 | 10.65 +5.34% | | | | 十 中 买 英 | | ム | 闪买 | | | 闪要 | | | 交易状态:午间休市 | | | | | | | 行情报价 | | | | | | | 成交量 | 126万手 | 取尚 | 13.15 | 今井 | 1 ...

朱玉莲指出，传统投研需花费大量时间手动提取数据、绘制图表，而iFinD终端融入AI后，通过自然语 言交互即可"一键调取数据"，AI可实时生成可视化图表，并支持动态调整维度，在确保严谨性的同时， 能让数据"活"起来。她强调，AI不是替代投研人员，而是让他们从重复劳动中解放，聚焦核心决策。 近日，2025云栖大会"AI+金融创新专场"在杭州云栖小镇国际会展中心圆满落幕。作为全球云计算与AI 领域的"风向标"盛会，本届云栖大会以"云智一体・碳硅共生"为核心，而汇正财经主办的本场专场，则 聚焦"超脑时代，技术重构金融证券服务"，汇聚同花顺、每经科技、融量科技、恒生电子等跨界力量， 从投研工具革新、金融平权实践、内容生态重塑到量化服务升级，多维度解构AI如何推动金融证券行 业从"流程优化"向"模式革新"跨越，为行业贡献了一场兼具技术深度与实践温度的思想盛宴。 活动伊始，汇正财经执行总经理周荣圣发表开场致辞，直指行业核心矛盾：普通散户长期面临"专业服 务触达难"的困境；而金融行业高人力成本的特性，更让传统模式难以支撑普惠需求。周荣圣表示，AI 时代的到来，让"高效率规模化服务"成为可能——汇正希望让普通投资者也能平等享受 ...

Core Points - The Henan Listed Companies Association held its sixth second member meeting and third council meeting, attended by over 120 representatives from 99 listed companies [1] - The meeting adopted resolutions including the election of five additional directors to the sixth council and the appointment of new vice presidents, secretaries, and legal representatives [1] - The Henan Securities Regulatory Bureau acknowledged the association's work and congratulated the newly elected directors, emphasizing the importance of corporate governance and compliance [1] Summary by Categories - **Meeting Overview** - The meeting was attended by representatives from 99 listed companies and included the election of additional council members [1] - The association aims to enhance service and self-regulation to support high-quality development of listed companies [1] - **Regulatory Emphasis** - The Henan Securities Regulatory Bureau highlighted the need for listed companies to strengthen governance and internal controls [1] - Companies are urged to utilize market-based tools like mergers and acquisitions to enhance their core businesses [1] - **Compliance and Accountability** - The meeting addressed the importance of adhering to regulations, including avoiding false disclosures and illegal profit transfers [1] - Recent cases of financial fraud were discussed, reinforcing the need for companies to maintain operational integrity [1]

Market Overview - The Shanghai and Shenzhen stock markets experienced a slight rebound with a trading volume just exceeding 2 trillion yuan, indicating a slowdown in trading activity [1] - The margin financing balance continued to increase, surpassing 2.3 trillion yuan, with an inflow of over 6 billion yuan, suggesting ongoing leverage funding inflow [1] Economic Data - The National Bureau of Statistics reported that the Consumer Price Index (CPI) fell by 0.4% year-on-year in August, remaining flat month-on-month, while the Producer Price Index (PPI) decreased by 2.9% year-on-year, with the decline narrowing by 0.7 percentage points from the previous month [2] - The core CPI, excluding food and energy, rose by 0.9% year-on-year, marking a 0.1 percentage point increase from the previous month, indicating a mild recovery in domestic demand [2] Industry Insights - The PPI's month-on-month stabilization is seen as a positive signal, benefiting from policies aimed at optimizing market competition and a rebound in commodity prices, although significant industry differentiation remains evident [1][2] - The regulatory authority is focusing on the food delivery industry, aiming to curb unhealthy competition and excessive subsidies, which may impact short-term revenue growth for platforms but could enhance long-term profitability and industry health [3] Market Performance - On September 10, the A-share indices showed an upward trend, with the Shanghai Composite Index rising by 0.13% and the Shenzhen Component Index increasing by 0.38% [4] - The trading volume for the market was recorded at 20,042.36 billion yuan, reflecting a decrease from the previous trading day, while the margin financing balance rose to 23,197.18 billion yuan [5]

Core Viewpoint - The introduction of the "FISP Operation Management Measures" by China Securities Depository and Clearing Corporation aims to standardize the operation of the public fund industry’s institutional investor direct sales service platform, supporting the high-quality development of the public fund industry. The measures will take effect on September 5, 2025 [1]. Group 1 - The FISP platform allows securities firms, fund management companies, and other financial institutions to apply for participation, with the China Securities Regulatory Commission approving its official launch on September 5 [3]. - A transition period from September 5, 2025, to September 4, 2026, is established for existing participants to gradually reduce their business scale if they do not meet the new qualification requirements [4]. - The FISP platform is designed to provide electronic information flow and management services for public fund business participants, including fund managers and asset custodians [4]. Group 2 - The FISP platform categorizes participants into four main roles: fund managers, fund sales institutions, investment managers, and asset custodians, each with specific business permissions [5]. - Fund managers can apply for the fund manager role, while sales subsidiaries can only handle business related to their parent company's managed public funds through the FISP platform [5]. - Institutions wishing to invest in public funds using their own or entrusted assets can apply for the investment manager role, while qualified custodians can apply for the asset custodian role [5]. Group 3 - Participants must ensure that the information related to their created investment portfolios is legal, accurate, and updated as necessary [6]. - The FISP platform does not participate in fund sales and does not alter the legal relationships of participants in fund sales, nor does it bear responsibility for disputes arising from related business [6]. Group 4 - The measures were publicly solicited for opinions in March 2022, clarifying the platform's construction basis, service targets, role settings, and electronic information flow requirements [8]. - The China Securities Regulatory Commission's action plan released on May 7 emphasizes accelerating the launch of the institutional investor direct sales service platform to facilitate various institutional investors' participation in fund investments [8].

Group 1 - The launch of the Hong Kong and US stock performance meeting roadshow channel by Panorama Network provides a new platform for Chinese companies to communicate with global investors, enhancing the globalization of Chinese enterprises [1][4] - The China Securities Regulatory Commission has introduced five measures to support leading domestic companies in listing and financing in Hong Kong, significantly boosting the activity of the Hong Kong market as a bridge for mainland enterprises to "go global" [2][3] - The Hang Seng Index has shown a year-to-date increase of 27.10% as of September 2, 2025, indicating enhanced market confidence and sustained capital inflow [2] Group 2 - The IPO market in Hong Kong has performed exceptionally well, with total fundraising reaching 138.275 billion HKD as of September 2, 2025, surpassing the total for the entire year of 2024 [2][3] - Notable companies such as CATL and Heng Rui Pharmaceutical have emphasized internationalization as a strategic focus, with CATL planning to allocate approximately 90% of its raised funds for projects in Hungary [3] - The US stock market has shown steady performance, with the Nasdaq index increasing by 10.20% year-to-date as of September 2, 2025, driven by the technology sector [3] Group 3 - The Panorama Network's new channel allows investors to access real-time performance explanations, strategic interpretations, and major updates from Chinese companies listed overseas, thereby reducing information asymmetry and improving decision-making quality [4][6] - Since 2017, the Hong Kong Stock Exchange has utilized Panorama Network for live broadcasts of annual and interim performance meetings, completing 12 roadshows to date [4] - The Panorama Network has established a strong market presence, with over 3,500 listed companies on its service platform, achieving a market coverage rate of 66% [5]

Group 1 - The company, Chifeng Jilong Gold Mining Co., Ltd. (stock code: 600988), announced plans to hold a semi-annual performance briefing on September 10, 2025, from 16:00 to 17:00 on the Dongfang Caifang roadshow platform [1]

Core Viewpoint - The company intends to use part of the excess raised funds to permanently supplement its working capital, which aligns with its operational needs and benefits all shareholders [1][4][6] Fundraising Overview - The company completed its initial public offering on April 24, 2020, issuing 16.67 million shares at a price of RMB 107.41 per share, raising a total of RMB 1,790,524,700, with a net amount of RMB 1,713,926,258 after deducting issuance costs [2][5] - The total amount of excess funds raised is RMB 935,933,858.08, with the planned amount for permanent working capital supplementation being RMB 280 million, accounting for 29.92% of the total excess funds [4][5] Investment Project Details - The raised funds are primarily allocated to projects including the "Tongdaxin Open Artificial Intelligence Platform Project," "Tongdaxin Visualization Financial Research Terminal Project," "Tongdaxin Professional Investment Trading Platform Project," and "Tongdaxin Big Data-Based Industry Safety Monitoring System Project," with a total investment amount of RMB 777,992,400 [3][4] Approval and Compliance - The company has committed that the cumulative use of excess funds for permanent working capital will not exceed 30% of the total excess funds within any twelve-month period, ensuring compliance with regulatory requirements [4][5] - The board of directors and the supervisory board have approved the use of part of the excess funds, which will be submitted for shareholder approval [6] Sponsor's Verification Opinion - The sponsor, China Galaxy Securities, has verified that the use of excess funds for working capital is in compliance with relevant laws and regulations, will not affect the normal progress of investment projects, and does not harm the interests of shareholders [6]

Company Bond Information - The company has issued two bonds: 24 Yuntong 01 and 25 Guangdian Yuntong K1, with provisions for interest payments and redemption on the first trading day without additional interest during the extension period [1][2] Credit Rating Agency Change - The company has appointed a new credit rating agency, United Credit Rating Co., Ltd., to adapt to market changes and improve its operational development [3][4] - The previous credit rating agency, Guangzhou Pushe Credit Evaluation Co., Ltd., will continue its services without impact from the new appointment [4][5] - The new credit rating agency has completed the necessary regulatory filings and has not faced any investigations or penalties in the past year [4] Ongoing Rating Arrangements - The new credit rating agency will conduct periodic follow-up ratings during the validity period of the credit rating report, adjusting ratings as necessary based on the company's credit status [4][5] Measures Taken by the Trustee Manager - The trustee manager, GF Securities, is committed to protecting the interests of bondholders and ensuring compliance with information disclosure obligations [5] - GF Securities will closely monitor the company's developments and any significant matters affecting bondholders [5]