Group 1 - The "14th Five-Year Plan" emphasizes enhancing the level of opening up to the outside world, promoting trade and investment liberalization, and deepening the flow of goods and factors [1] - China is recognized as a "certain oasis and investment hotbed," with continuous reduction of foreign investment access negative lists and the complete removal of restrictions in the manufacturing sector [1][4] - Chinese enterprises are actively utilizing diversified financing tools such as A+H shares and Global Depositary Receipts (GDR) for global expansion, maintaining a leading position in foreign investment stock [1] Group 2 - The financial system is being optimized to enhance the efficiency of cross-border capital flow, facilitating global fund management for enterprises [2] - The Qianhai area has established six cross-border financial brands, including cross-border RMB loans and dual-currency funding pools, reflecting significant changes in cross-border investment and financing convenience [2] - Shanghai is focusing on improving cross-border financial services and has launched a high-version integrated currency pool pilot to support "going out" enterprises [3] Group 3 - The removal of foreign ownership limits in various sectors and the improvement of the Qualified Foreign Limited Partner (QFLP) system have significantly enhanced the attractiveness of China's capital market to global capital [4] - As of September 22, 2023, 13 foreign-controlled securities, fund, and futures institutions have been approved to operate in China during the "14th Five-Year Plan" period [4] - The establishment of QFLP funds in Qianhai has seen significant growth, with the new funds accounting for over 90% of Shenzhen's total [5] Group 4 - Chinese enterprises are increasingly confident in their overseas expansion, transitioning from "goods export" to "full industry chain export" and "value co-creation" [7] - The newly established "Mainland Enterprises Going Abroad Task Force" in Hong Kong aims to support mainland enterprises in overseas expansion [7] - Companies like Greenme have announced plans for Hong Kong listings to enhance their global strategies and financing capabilities [7] Group 5 - Shanghai Chenglian Bangzhong Technology Development Co., Ltd. successfully completed its first overseas direct investment (ODI) in Indonesia, showcasing the effectiveness of local financial infrastructure in facilitating overseas investments [8] - The company benefited from the support of the Hongqiao Overseas Development Service Center, which significantly shortened the approval process for ODI [8]

上交所已成为全球第三大股票市场、全球最大交易所债券市场。 10月17日，据上交所发布，"十四五"时期，上交所坚持以习近平新时代中国特色社会主义思想为指导， 深入贯彻落实党中央、国务院的决策部署，在中国证监会的统筹指导和中央纪委国家监委驻中国证监会 纪检监察组的有力监督下，与市场各方一道，锚定高质量发展首要任务，主动融入国家经济社会发展大 局，稳步推进世界一流交易所建设。目前，上交所已成为全球第三大股票市场、全球最大交易所债券市 场、亚洲第二大ETF市场，期权交易量也稳居全球同类产品前列。 "起"势——服务新质生产力聚点成面 "转"变——深化改革重塑发展格局 改革为发展注入澎湃动力，深化改革的步伐始终贯穿上交所"十四五"时期，推动市场格局在潜移默化 中"转"变。上市公司主体责任意识明显转变。深入推进"提质增效重回报"专项行动，沪市公司分红回报 力度持续提升。近五年，沪市公司作为国民经济基本盘实现稳韧增长，营业收入、净利润年均复合增速 分别为3.8%、4.6%，累计宣告分红金额7.32万亿元，较"十三五"增长51.2%，占全市场分红总额的7成以 上。回购增持金额上限超3662亿元，较"十三五"增长150.4%。积 ...

（本文作者为瑞银中国区总裁，瑞银证券董事长胡知鸷） 资本市场、财富管理与绿色金融的互鉴与创新，为两国合作注入新的战略动能 2025年是中国与瑞士建交75周年。自1950年以来，中瑞关系始终以相互尊重为基础，秉持开放与创新的 共同价值观，在多个战略领域保持长期合作，并携手走过了许多具有里程碑意义的时刻。 2013年7月，中国与瑞士正式签署自由贸易协定，这也是中国与欧洲大陆国家签署的第一份双边自贸协 定。目前，瑞士已成为中国在欧洲的第三大贸易伙伴，中瑞双边贸易额已翻倍增长，在2024年已经超过 627亿美元。 2019年，中瑞金融工作组机制启动，为两国金融业的交流合作搭建起常态化的政策沟通平台。 中国是 全球第二大经济体，拥有全球第二大债券和股票市场；而瑞士则是全球重要的金融中心，管理着全球约 四分之一的跨境资产。在全球经济和地缘格局深刻调整的背景下，金融合作正成为中瑞进一步发展双边 关系的关键支点之一。 实际上，无论是资本市场的制度创新，还是财富管理的经验互鉴，抑或在绿色金融与数字金融领域的前 沿探索，中瑞合作都展现出极强的互补性和前瞻性，这也为将金融合作打造成双边关系核心支柱提供了 广阔空间。 一、深化资本市 ...

Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities and the management of raised funds by Guotou Electric Power Holdings Co., Ltd. It highlights the amounts raised, their intended uses, and the current status of these funds as of June 30, 2025. Fundraising Overview - The company raised a total of approximately $220.68 million through the issuance of Global Depositary Receipts (GDR) and a specific issuance of A-shares, with the latter amounting to approximately ¥6.999 billion [1][2]. - The GDR issuance included 67,860,233 GDRs, with an additional 1,635,000 GDRs sold through an over-allotment option, raising $20.06 million [1]. Fund Utilization - As of June 30, 2025, the company has utilized $210.08 million from the GDR funds, with $147.08 million allocated to project expenditures and $63 million for loan repayments [1][2]. - The remaining balance of the GDR funds is approximately $5.57 million [1][2]. Fund Management - The company has established a dedicated fund management system in compliance with regulatory requirements, ensuring that funds are stored and used appropriately [1][2]. - Special accounts have been set up at various banks for the management of the raised funds, and the company has signed regulatory agreements to ensure proper oversight [1][2]. Current Fund Status - As of June 30, 2025, the company has a remaining balance of approximately ¥5.88 billion from the A-share fundraising, with a total of ¥1.13 billion already utilized for project investments [2][4]. - The funds raised will primarily support the construction of the Mengdigou Hydropower Station and the Kala Hydropower Station projects [2][4]. Cash Management - The company has engaged in cash management practices, including purchasing fixed-term deposits totaling approximately ¥3.2 billion and ¥1.8 billion, ensuring that idle funds are effectively managed [3][4]. - The interest income from these deposits contributes to the overall management of the raised funds [4].

Core Points - The company raised a total of $70,000,049.00 from the issuance of Global Depositary Receipts (GDRs), equivalent to approximately ¥502,355,351.65, after deducting related expenses [1] - As of June 30, 2025, the company has utilized ¥145,687,079.58 of the raised funds [5] - The company has established a dedicated management system for the raised funds, ensuring they are stored in special accounts and used according to regulations [3] Fundraising Overview - The GDR issuance consisted of 7,438,900 units at a price of $9.41 each, corresponding to 37,194,500 shares of A-shares [1] - The net amount raised after expenses was approximately ¥476,598,996.87 [1] Fund Usage and Management - The company has not changed the implementation location or method for any fundraising projects during the reporting period [5] - There were no instances of using idle funds for temporary working capital or cash management [5] - As of June 30, 2025, there remains ¥25,415,775.74 of unutilized funds, including interest income [5] Compliance and Reporting - The company has confirmed that there are no violations in the management of the raised funds and that all disclosures have been made in accordance with regulatory requirements [6][11] - The special report on the use of raised funds was approved by the board on August 27, 2025 [6][11]

证券代码：601615 证券简称：明阳智能 公告编号：2025-051 明阳智慧能源集团股份公司 关于2025年半年度募集资金存放、管理与实际使用情 况的专项报告 本公司董事会及全体董事保证本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、准确性和完整性承担法律责任。 根据《上市公司募集资金监管规则》和《上海证券交易所上市公司自律监管 指引第 1 号——规范运作》有关规定，现将明阳智慧能源集团股份公司（以下简 称"公司"）2025 年半年度募集资金存放与使用情况说明如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 公司经中国证券监督管理委员会证监许可[2020]1516号《关于核准明阳智慧 能源集团股份公司非公开发行股票的批复》核准，公司向特定投资者非公开发行 人民币普通股（A股）413,916,713股，每股发行价格14.02元。截至2020年10月26 日，公司实收本次非公开发行募集资金总额人民币580,311.23万元，扣除发行费 用3,106.50万元后，募集资金净额为577,204.73万元。 上述募集资金到位情况已经致同会计师事务所（特殊普通合伙）出具的 ...

3月16日，国务院金融委对当前经济形势和资本市场问题一锤定音。当日晚间，深市两家头部民企 公告筹划境外发行全球存托凭证，并在瑞交所上市。 举旗定向，纲举目张。高层密集发声，明确坚定不移扩大开放，向市场鸣响"信号枪"。种种信号表 明，中国资本市场将坚定实施制度型双向开放。 可以期待，随着政策渐次落地，中国将有更多优质企业走出国门、走向世界，同时也将有更多长线 资金走进国门、参与中国企业成长。 境外发行GDR"生力军"扩容 "长江、黄河不会倒流。"近期，高层定调中国对外开放的政策不会变。3月16日，国务院金融委发 声后，企业与投资者吃下"定心丸"，市场结束恐慌性下跌，连续收复两根阳线。 沪深港通是互联互通的重要抓手，境外资金不仅给市场带来资金，更带来活力。以深市为例，深港 通开通5年来，累计交易金额已突破40万亿元。深港通北向交易日益活跃，其日均交易金额在2019年达 到200亿元，2020年达到500亿元，2021年达到650亿元。 "近年来，中国资本市场对外开放取得较大进步。"招商基金研究部首席经济学家李湛认为，中央对 于推动高水平对外开放具备坚定信心，预计将持续出台吸引外资入市的利好政策。 在吸引资金"走进 ...

Core Points - The company announced a cash dividend of 0.20 RMB per share for its A shares, totaling approximately 365.89 million RMB to be distributed to shareholders [1][2] - The dividend distribution plan was approved at the annual general meeting held on June 6, 2025 [1] - Key dates for the dividend distribution include the record date on July 17, 2025, and the ex-dividend date on July 18, 2025 [1][2] Dividend Distribution Details - The total number of shares for the dividend calculation is 1,829,453,386 [2] - The cash dividend will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the record date [2] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [2] Taxation Information - For individual shareholders and securities investment funds, no personal income tax will be withheld at the time of dividend distribution [3] - The tax implications vary based on the holding period of the shares, with different tax rates applicable [3] - For qualified foreign institutional investors (QFII), a 10% withholding tax will be applied, resulting in a net dividend of 0.18 RMB per share [5][6] - Hong Kong investors through the Stock Connect will also face a 10% withholding tax, with similar provisions for tax treaty benefits [6][7] - Other institutional investors will not have taxes withheld by the company, and they are responsible for their own tax obligations [8]