登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600061 证券简称：国投资本 公告编号：2025-061 九届二十八次董事会决议公告 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。 国投资本股份有限公司 重要内容提示： ●董事葛毅先生因工作原因委托董事长崔宏琴女士出席本次董事会。 一、董事会会议召开情况 国投资本股份有限公司九届二十八次董事会于2025年10月9日以通讯表决方式召开。会议通知和材料已 于2025年9月26日通过电子邮件方式发出。会议应出席董事7人，实际出席董事7人（其中委托出席1 人），公司董事葛毅先生因工作原因授权委托董事长崔宏琴女士出席会议并行使表决权。董事长崔宏琴 女士主持本次会议，公司监事、高级管理人员列席会议。会议的召开符合《公司法》及《公司章程》的 规定。 二、董事会会议审议情况 会议审议并通过了以下议案： 1.《国投资本股份有限公司关于提名独立董事候选人的议案》 因连任国投资本股份有限公司（以下简称"公司"）独立董事已满六年，近期张敏先生申请辞去公司独立 董事及董事会相关专门委员会 ...

Core Viewpoint - The article discusses the emotional and psychological challenges faced by investors during a bull market, highlighting the disparity between individual performance and market trends, as well as the importance of maintaining a balanced mindset in investment strategies. Group 1: Investor Sentiment and Performance - Many investors express frustration over low returns despite a booming market, with some reporting only a 10% gain while others see much higher returns [1] - A significant portion of investors, approximately 60%, have experienced losses over the past decade, even as indices reach new highs [3] - The emotional toll of missing out on gains can lead to anxiety and poor decision-making, as seen in the case of those holding underperforming assets like convertible bonds [8][10] Group 2: Investment Strategies and Mindset - Investors are encouraged to adopt a long-term perspective, treating investment as a marathon rather than a sprint, which can lead to more satisfying outcomes [3] - The importance of risk management is emphasized, with some investors maintaining low exposure to high-risk assets, resulting in modest but stable returns [5] - Adapting strategies based on market conditions, such as shifting from one asset class to another, can help mitigate feelings of loss and improve overall sentiment [10][14] Group 3: Market Dynamics and Asset Performance - The performance of specific assets, such as the浦发转债, has been disappointing, with a significant drop in premium rates despite the underlying stock's rise [8][9] - Investors are advised to remain flexible and consider alternative investments if current holdings do not perform as expected, highlighting the need for adaptability in investment approaches [10][14] - The article suggests that understanding market cycles and adjusting positions accordingly is crucial for long-term success [12][14]

New Stock Listings - Huadian New Energy (600930) listed at an issue price of 3.18 on July 16, 2025[1] - Zhongcheng Tui (300208) has 2 trading days remaining until the last trading day[1] - Tui Shi Jin Gang (600190) also has 2 trading days remaining until the last trading day[1] Abnormal Fluctuations - Huayin Power (600744) reported severe abnormal fluctuations on July 15, 2025[1] - Changcheng Military Industry (601606) announced abnormal fluctuations on July 15, 2025[1] - ST Yanzhen (603389) reported abnormal fluctuations on July 16, 2025[1] Other Notable Announcements - ST Ya Zhen (000627) reported significant fluctuations with a value of 7189 on July 16, 2025[3] - Guosheng Technology (603778) reported fluctuations with a value of 3370 on July 15, 2025[3] - ST Xin Chao (600777) reported fluctuations with a value of 1008 on July 11, 2025[3]

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds due to the implementation of the 2024 annual profit distribution plan, with the new conversion price set at 9.42 CNY per share, down from the previous 9.55 CNY per share [1][2][4] Summary by Sections Announcement of Suspension and Resumption of Trading - The company's securities will be suspended and resumed trading due to the implementation of the 2024 annual profit distribution [1] - The suspension period for the convertible bond conversion is from July 10, 2025, to July 16, 2025 [4] Adjustment of Conversion Price - The conversion price of the convertible bonds will be adjusted from 9.55 CNY per share to 9.42 CNY per share, effective from July 17, 2025 [1][4] - The adjustment is based on the company's 2024 annual shareholder meeting resolution regarding profit distribution [1][2] Basis for Adjustment - The adjustment follows the company's profit distribution plan, maintaining the per-share distribution ratio while adjusting the total distribution amount due to changes in total share capital from convertible bond conversions [1][2] - The total number of shares for the profit distribution is 6,393,981,723 shares, with a cash dividend of 1.27 CNY per share (including tax) [1]

Key Insights - As of June 2025, China's foreign exchange reserves stood at 33,174 billion USD, indicating a stable economic environment [1] - The convertible bond market showed a 3.3% increase in June, following a 4.7% rise in the stock market, driven by policy stimuli and geopolitical factors [2][3] - The life sciences upstream sector is experiencing a turning point, with a projected revenue growth of 10.75% year-on-year in 2024, driven by stable investment and domestic substitution trends [7][8] - The North Exchange is expected to maintain high trading activity and market attention, with a focus on new industries such as artificial intelligence and commercial aerospace for the second half of 2025 [12][17] Convertible Bond Market - The convertible bond market's valuation is not overly high, with structural opportunities still available, particularly in sectors showing improved economic conditions such as non-ferrous metals, machinery, agriculture, and computing [4][3] - The market is transitioning from a policy-driven focus to a fundamental pricing approach, with expectations of a 5% economic growth target being met [3][4] - Recommended convertible bonds for July include Guotou Convertible Bond, Ran 23 Convertible Bond, and others, indicating a strategic focus on sectors benefiting from policy support [4] Life Sciences Upstream Sector - The life sciences upstream sector is characterized by high specialization and significant barriers to entry, with major companies expanding and exploring international markets [7][8] - The sector is poised for growth due to the booming demand for innovative drugs, with the Chinese antibody drug market expected to reach 510.8 billion RMB by 2030 [8] - Mergers and acquisitions are becoming more prevalent, with domestic companies looking to replicate the growth paths of global giants, enhancing industry concentration and growth potential [9][10] North Exchange - The North Exchange's trading activity has slightly decreased, with an average daily turnover of approximately 279.83 billion RMB, but it remains higher than other markets [13] - The North Exchange's overall price-to-earnings ratio is around 50.4 times, indicating a slight decline but still higher than other boards, with the electronics sector showing the highest ratios [14] - The North Exchange is optimizing its evaluation system to support the high-quality development of small and medium-sized enterprises, focusing on innovation and market ecology improvement [15][17]

Group 1 - The company announced a cash dividend distribution plan for the year 2024, proposing a total cash dividend of approximately 812.04 million yuan, with a distribution of 1.27 yuan per 10 shares (including tax) [1][2] - The company's total share capital as of the end of 2024 is 6,393,980,683 shares [1] - The convertible bonds ("Guotou Convertible Bonds") will suspend conversion from July 10, 2025, until the equity registration date, with resumption of conversion on the first trading day after the registration date [2][3] Group 2 - The company will disclose the implementation announcement of the equity distribution and the adjustment of the convertible bond conversion price on July 11, 2025 [2] - Holders of the convertible bonds wishing to enjoy the equity distribution must convert their bonds before July 9, 2025 [3] - The company assures that the announcement content is truthful, accurate, and complete, and takes legal responsibility for it [1]

Group 1 - The company issued 80 billion RMB worth of convertible bonds on July 24, 2020, with a maturity of six years and a conversion price of 9.55 RMB per share [1] - As of June 30, 2025, a total of 829,000 RMB has been converted into A shares, resulting in 83,445 shares being issued, which represents 0.0030% of the total shares before conversion [2][3] - The remaining amount of unconverted convertible bonds as of June 30, 2025, is 7,999,171,000 RMB, accounting for 99.9896% of the total issued convertible bonds [2][3] Group 2 - The company completed the cancellation of repurchased shares on December 24, 2024, as disclosed in the announcement [2] - The total number of shares before the conversion was 6,393,981,307, which increased to 6,393,981,619 after the conversion of 312 shares [2]

Core Viewpoint - The companies Caitong Securities and Ruida Futures have announced a proposal to lower the conversion price of their convertible bonds, marking the first time in four to five years that such a proposal has been made despite previous triggers for price adjustments [4][8]. Group 1: Company Actions - Caitong Securities and Ruida Futures have initiated actions to lower the conversion prices of their respective convertible bonds, Caitong Convertible Bond and Ruida Convertible Bond [4][8]. - Caitong Securities reported that from May 26 to June 16, its stock price had closed below 80% of the current conversion price for 15 out of 30 trading days, triggering the adjustment clause [4][11]. - The board of Caitong Securities has approved the proposal to lower the conversion price, which will be submitted for shareholder approval [4][8]. Group 2: Market Impact - Following the announcement of the proposed price adjustments, the secondary market prices of the convertible bonds reacted positively, with Caitong Convertible Bond rising by 4.65% to 120.012 yuan and Ruida Convertible Bond increasing by 1.12% to 120.35 yuan on June 17 [11]. - The current outstanding balances of Caitong Convertible Bond and Ruida Convertible Bond are 3.799 billion yuan and 649 million yuan, respectively, with conversion rates of 99.99% and 99.84% remaining unconverted [10][11]. Group 3: Strategic Intent - The rationale behind the proposed price adjustments is to optimize the companies' capital structures, enhance their competitive positions, and support long-term development while protecting the interests of bondholders [8][11]. - Both companies have indicated that the decision to lower the conversion prices is based on a comprehensive consideration of market conditions and stock price trends [8].

Core Viewpoint - The company is experiencing a mixed financial performance, with a focus on cost control and shareholder value enhancement through stock buybacks and effective management of convertible bonds [2][3][5]. Trading Information - As of April 3, 2025, the company's stock closed at 7.12 yuan, up 0.28%, with a turnover rate of 0.37%, a trading volume of 238,000 shares, and a transaction value of 169 million yuan [1]. - On the same day, the main funds experienced a net outflow of 22.44 million yuan, accounting for 13.25% of the total transaction value, while retail investors saw a net inflow of 16.55 million yuan, representing 9.76% of the total [4][7]. Company Announcements - The company reported that from February 1, 2021, to March 31, 2025, a total of 826,000 yuan of convertible bonds were converted into A-shares, which is 0.0030% of the total shares before conversion. As of March 31, 2025, the remaining amount of convertible bonds not converted is 7.999 billion yuan, which is 99.9897% of the total issued [5][7]. - The company has implemented a salary mechanism linked to performance, resulting in an increase in average employee salary to 577,700 yuan, despite a general trend of salary reductions in the industry. The company achieved a net profit of 2.694 billion yuan in 2024, a year-on-year increase of 14% [3].