11月5日，东方财富（300059）证券与复旦大学管理学院联合主办的《2025上市公司市值管理白皮书》 （以下简称"2025年白皮书"）发布会在线上举行，吸引数万名上市公司代表、投资机构人士及个人投资 者观看。作为双方在市值管理研究领域的升级力作，"2025年白皮书"在去年《央国企上市公司市值管理 白皮书》基础上深化拓展，将研究视野从央国企延伸至全市场，通过优化价值创造、价值成长、价值传 递、价值维护的理论框架与量化指标体系，构建兼具学术深度与实践价值的市值管理指引，为各类上市 公司提供系统的策略参考，同时为资本市场规范发展注入理论与实践动能。 发布升级：锚定市值管理发展新坐标 发布会上，主办方与圆桌讨论嘉宾共话市值管理理论前瞻与实践路径。复旦大学管理学院副院长、教授 吕长江在致辞中指出，"2025年白皮书"既是对市值管理内涵的进一步凝练，也是学术方法与市场实践深 度融合的探索，以期助力上市公司更有效地运用市值管理，引导各方形成价值共创合力，为投资者带来 持续、稳健的回报。 东方财富证券总经理戴彦表示，作为资本市场参与者，东方财富证券始终践行服务实体经济使 命，"2025年白皮书"将研究范围从央国企扩展至全市 ...

Core Insights - In 2024, China's capital market is experiencing a pivotal shift in market value management, with new policies emphasizing the enhancement of investment value for listed companies [1] - The understanding of market value management is evolving from a tool for stock price maintenance to a crucial component of corporate strategic management [1] - Financial institutions play a vital role in this transformation, with Dongfang Caifu Securities proactively engaging in this field by collaborating with Fudan University to publish a white paper on market value management [1] Group 1 - The new "National Nine Articles" explicitly state the goal of promoting the investment value of listed companies, integrating market value management into the performance assessment of central enterprise leaders [1] - Market value management is transitioning from an elective subject for a few companies to a mandatory requirement for the entire market [1] - Dongfang Caifu Securities and Fudan University have introduced a theoretical framework consisting of four elements: value creation, value growth, value transmission, and value maintenance, providing systematic support for listed companies [1] Group 2 - An online launch event for the "2025 Market Value Management White Paper" is scheduled for November 5, 2025, which will expand the research scope and optimize the theoretical framework and evaluation system [2] - The upcoming white paper aims to provide targeted market value management solutions for companies across different industries and development stages [2] - As capital market reforms deepen, market value management is expected to play a more significant role in resource allocation and corporate development [2]