在实施方式上，公司授权董事长行使投资决策权并签署相关文件，包括选择金融机构、产品品种、投资 金额及期限等，财务部门负责具体组织实施并建立台账。 风险控制与收益平衡 广东粤海饲料集团股份有限公司（证券代码：001313，证券简称：粤海饲料）于2025年11月28日召开第 四届董事会第十一次会议，审议通过了《关于使用部分闲置自有资金进行现金管理的议案》。公司计划 使用额度不超过10亿元的闲置自有资金购买低风险现金管理类产品，以提高资金使用效益，该事项尚需 提交股东会审议。 现金管理方案核心要点 公告显示，此次现金管理的资金来源为公司及下属子公司的闲置自有资金，额度上限为10亿元（指有效 期内任一时点的最高余额），有效期自股东会审议通过之日起12个月，在此期间可循环滚动使用。投资 产品期限均不超过12个月，具体品种包括协定存款、通知存款、定期存款、结构性存款、大额存单及理 财产品等，但不涉及股票、证券投资基金等风险品种，亦不投资以股票、利率、汇率衍生品为标的的理 财产品。 该议案已获董事会审议通过，尚需提交公司股东大会审议。根据公告，股东大会审议通过后，相关现金 管理操作将在12个月有效期内启动。粤海饲料强调，此次 ...

江苏华兰药用新材料股份有限公司（证券简称：华兰股份，证券代码：301093）于2025年11月28日召开 第六届董事会第八次会议，审议通过了《关于使用部分闲置募集资金和自有资金进行现金管理的议 案》。根据公告，公司及子公司计划在未来12个月内，使用不超过11亿元的闲置资金进行现金管理，其 中闲置募集资金上限为8亿元，自有资金上限为3亿元，额度可循环滚动使用。该议案尚需提交公司股东 会审议。 资金规模与投资范围明确 公告显示，本次现金管理旨在提高闲置资金使用效率，在确保不影响募集资金投资项目建设及公司正常 经营的前提下，实现资金保值增值。具体来看，募集资金将投向安全性高、流动性好的保本型产品，包 括结构性存款、定期存款、大额存单等，产品期限不超过12个月；自有资金则可投资银行理财产品、收 益凭证等非高风险产品，同样设置12个月期限限制，且所有投资产品不得用于质押或担保。 募集资金使用历史回顾 作为药用包装材料领域的专业企业，华兰股份于2021年首次公开发行股票，募集资金净额达18.04亿 元。根据招股说明书，原计划投入5.5亿元用于自动化工厂改造、研发中心建设及补充流动资金。此后 公司通过多笔超募资金实施产能扩 ...

南财智讯11月28日电，雪人集团公告，公司于2025年11月27日召开第六届董事会第十次（临时）会议， 审议通过《关于使用闲置募集资金进行现金管理的议案》。同意公司拟继续使用不超过1.10亿元的暂时 闲置募集资金进行现金管理，用于购买安全性高、流动性好且满足保本要求的理财产品或存款类产品， 包括但不限于结构性存款、定期存款、大额存单、收益凭证等。投资期限不超过12个月，在前述额度及 使用期限范围内，资金可循环滚动使用。该事项不会影响募集资金投资项目进度和公司正常生产经营。 ...

公募总规模达36.96万亿元今年以来第七次创历史新高 中基协最新发布的公募基金市场数据显示，截至2025年10月底，我国公募基金总规模为36.96万亿元， 这是我国公募基金总规模今年以来第七次创下历史新高。分类型来看，今年10月货币基金规模增长超 3800亿元，贡献最大规模增量，此外QDII基金规模也小幅增长。而股票基金和混合基金规模在10月分 别小幅下降289亿元和548亿元，债券基金规模下降超千亿。（智通财经） 中长期大额存单正在消失：多家银行已无5年期产品在售3年期"额度紧张"或"售罄" 曾被视为"揽储利器"的中长期大额存单正在逐渐消失。《每日经济新闻》记者注意到，目前六大国有银 行及多家股份行App上已无5年期大额存单。不仅如此，尽管3年期大额存单产品仍在，但部分银行App 显示"售罄"或"额度紧张"。在业内看来，压降高成本的中长期大额存单是银行优化负债结构、稳定净息 差的直接手段。据国家金融监督管理总局披露，截至2025年三季度末，我国商业银行净息差为1.42%， 环比持平，仍处于历史低位。（每日经济新闻） 机构：第三季度全球DRAM销售额达403亿美元SK海力士连续三季市占率第一 市场研究机构Om ...

一句"绝不道歉"的宣战，让华与华与罗永浩的公关对决成为本周最硬的"骨头"。然而，商业世界的硬仗 远不止于此：前湖北首富兰世立硬刚金龙鱼；恒大清盘人全球追击资产；从宗馥莉卸任娃哈哈，到万科 再次成为风暴中心……巨头的每一次抉择都牵动着市场的神经。本周的财经事件，每一件都让人有所思 考与感悟，一起来回顾这些焦点事件。 宗馥莉正式卸任娃哈哈董事长、总经理，31岁的许思敏接任 工商信息显示，近日，杭州娃哈哈集团有限公司发生工商变更，宗馥莉卸任法定代表人、董事长、总经 理职务，由许思敏接任，同时，多位主要人员发生变更。目前宗馥莉仍持有杭州娃哈哈集团29.40%的 股权。 这一次，华与华老板没有向罗永浩服软 西贝刚在舆论漩涡里喘口气，背后的 "营销军师" 就亲手把它推回了风口浪尖。 11月25日，华与华创始人华杉一条微博直接点燃战火："西贝是中国餐饮业的天花板，诚心诚意对顾客 对员工，却被诱入黑白颠倒的'网络罗刹国'遭人算计！华夏子弟精神，不苟且偷生，凭仁义立世！" 26日上午，他更是把狠话放到底："今天下午六点前，华杉不公开道歉，未来中国市场公关行业，没人 会记得华与华，只会记得'罗与华'！" 不过，这次华彬并没有服软 ...

【环球网财经综合报道】曾备受储户青睐的中长期大额存单，正从银行货架悄然"消失"。记者调查发现，目前六大国有银行及多家股份制银行手机App上已 无5年期大额存单在售。不仅如此，3年期大额存单也普遍"额度紧张"甚至"售罄"，部分银行仅保留2年期及以下产品。 某股份制银行人士分析称，大额存单特别是中长期产品，是银行成本较高的负债来源。在息差不断收窄的压力下，压降此类产品是银行优化负债结构的直接 手段。此外，此举也能避免在未来利率进一步走低时，被长期高息存款锁定成本。 这一调整趋势已从大行蔓延至地方性中小银行。近期，内蒙古、浙江、云南、河南等多地村镇银行纷纷下调人民币存款利率，部分银行甚至直接取消了5年 期定存产品。 随着传统存款产品吸引力下降，居民储蓄正呈现出明显的"搬家效应"。央行发布的《2025年第三季度城镇储户问卷调查报告》显示，倾向于"更多储蓄"的居 民占比下降，而倾向于"更多投资"的居民占比显著提升5.6个百分点。其中，"银行非保本理财"成为居民最偏爱的投资方式。 资金流向的变化在数据上得到印证。银行业理财登记托管中心报告显示，截至2025年三季度末，中国银行业理财市场存续规模达32.13万亿元，同比增长 ...

Core Viewpoint - The long-term large-denomination certificates of deposit (CDs), once seen as a tool for attracting deposits, are gradually disappearing from the market, indicating a shift in banks' strategies to optimize their liability structures and stabilize net interest margins [1][2][3]. Summary by Sections Disappearance of Long-term Large-denomination CDs - Major banks have removed 5-year large-denomination CDs from their offerings, with some still having 3-year CDs available, but these are often marked as "sold out" or "in short supply" [2][3]. - The interest rates for the remaining 3-year large-denomination CDs are concentrated between 1.5% and 1.8%, despite the general trend of rates being in the 1% range [2]. Impact on Banks' Liability Management - The reduction of high-cost long-term large-denomination CDs is a direct method for banks to optimize their liability structures and stabilize net interest margins, which are currently at historical lows [1][3]. - Data shows that most banks in the A-share market have experienced a decline in net interest margins, with state-owned banks seeing a decrease of around 15 basis points [3]. Adjustments in Deposit Structures - Some banks are also eliminating 3-year large-denomination CDs, leaving only shorter-term products available [3]. - A specific bank has announced the cancellation of its 5-year fixed deposit products and has lowered interest rates for other term deposits, indicating a broader trend among regional banks to adjust their deposit offerings [3][4]. Shift in Investment Preferences - Since the establishment of a market-oriented deposit rate adjustment mechanism in April 2022, major banks have reduced deposit rates multiple times, prompting depositors to consider diversifying their investments into lower-risk assets such as government bonds and wealth management products [5]. - A recent survey indicates a shift in consumer behavior, with a decrease in the percentage of residents preferring to save more and an increase in those looking to invest more [5]. Growth in Wealth Management Products - The scale of the banking wealth management market has seen significant growth, with a reported increase of 9.42% year-on-year, reaching a total of 32.13 trillion yuan by the end of the third quarter of 2025 [5]. - Projections for 2026 suggest that the wealth management scale could grow by at least 10%, potentially reaching around 38 trillion yuan [6].

Group 1 - Japan's opposition party leader commented on Takashi Saito's statements during the party leader debate, indicating that Saito no longer mentions specific examples, effectively retracting previous responses. The Chinese Foreign Ministry spokesperson stated that "no longer mentioning" and "retracting" are fundamentally different, rejecting Japan's attempts to downplay serious errors in Saito's statements [2] - Vanke's stock and bonds have seen significant declines, with "21 Vanke 02" closing down over 57%, "21 Vanke 06" down over 46%, and "22 Vanke 02" down over 42%. Vanke's H-shares fell nearly 8%, hitting a historical low, while Vanke A shares dropped over 7%, marking an 11-year low [2] Group 2 - The State Council, led by Premier Li Qiang, held a meeting to discuss high-quality development and the promotion of provincial-level coordination in basic medical insurance. The meeting emphasized the need to strengthen grassroots medical service capabilities [3] - The State Council Information Office released a white paper on China's arms control, disarmament, and non-proliferation policies, marking the first comprehensive statement in 20 years on these issues [3] - China and Malaysia engaged in bilateral discussions regarding the "Malaysia-US Trade Agreement," with China expressing concerns over certain aspects that could affect global trade and regional cooperation [3] Group 3 - The National Development and Reform Commission is promoting the expansion of infrastructure REITs to include urban renewal facilities, hotels, sports venues, and commercial office facilities. The commission also highlighted the need to balance speed and potential market bubbles in the development of embodied intelligence industries, particularly humanoid robots [4] - The State Administration for Market Regulation held a meeting focused on promoting fair competition and optimizing the business environment, engaging with foreign enterprises for feedback [4] - The National Bureau of Statistics reported that from January to October, profits of large-scale industrial enterprises increased by 1.9% year-on-year, with a decline of 5.5% in October due to high base effects and rising financial costs [4] Group 4 - A-shares experienced a pullback, with the Shanghai Composite Index closing up 0.29% at 3875.26 points, while the Shenzhen Component Index and the ChiNext Index fell by 0.25% and 0.44%, respectively. The market turnover was 1.72 trillion yuan [5] - The Hong Kong Hang Seng Index closed up 0.07% at 25945.93 points, with the Hang Seng Tech Index down 0.36%. The property sector saw widespread declines, while the new consumption sector performed well [5] Group 5 - Morgan Stanley upgraded its investment rating for the Chinese stock market to "overweight," citing a higher likelihood of significant gains next year due to multiple supporting factors, including the application of AI, consumption stimulus measures, and governance reforms [6] - As of November 27, 96 fund managers announced purchase limits on over 340 products, reflecting a shift in public fund institutions' competitive philosophy from "scale" to "protecting returns" [6] - A total of 400 A-share listed companies have announced plans for private placements this year, compared to 196 last year, with the main purposes being to supplement liquidity, support financing, and acquire other assets [6] Group 6 - Tencent Holdings announced a buyback of 636 million Hong Kong dollars for 1.022 million shares, with a repurchase price between 618.5 and 629 Hong Kong dollars per share. This brings Tencent's total buyback to 65.4 billion Hong Kong dollars this year [6] - Avita Technology (Chongqing) Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, reporting a revenue of 12.208 billion yuan in the first half of the year, a year-on-year increase of 98.52% [7] Group 7 - The National Development and Reform Commission's price department is working on standards for recognizing costs in cases of price disorder competition [10] - The China Securities Investment Fund Association reported that by the end of October, the scale of private equity funds reached 22.05 trillion yuan, an increase of 1.31 trillion yuan from September, marking a historical high [10] - Major banks in China have collectively stopped offering five-year large-denomination time deposits, with three-year products' interest rates dropping to 1.5% to 1.75% [10] Group 8 - The State Administration of Press and Publication approved 184 game licenses in November, with 178 for domestic games and 6 for imported games, significantly exceeding last year's total [10] - The first batch of leading intelligent factories in China was announced, covering key industries such as equipment manufacturing and electronics, marking a significant leap towards intelligent manufacturing [10]

Core Viewpoint - The article discusses the recent trend of small and medium-sized banks in China, particularly Blue Ocean Bank, suspending long-term deposit products due to pressure on net interest margins and high funding costs, reflecting a proactive balance sheet contraction strategy in a declining interest rate environment [3][11]. Group 1: Deposit Trends - Blue Ocean Bank has suspended all its fixed-term deposit products, including 2-year, 3-year, and 5-year terms, leading to a situation where all deposit products are sold out [4][5]. - The bank's customer service indicated that the suspension of these deposit products is due to reaching full capacity, with no clear timeline for when they will be available again [10]. - The bank's interest rates for various deposit terms are as follows: 3-month (1.35%), 6-month (1.55%), 1-year (1.65%), 2-year (1.85%), 3-year (2%), and 5-year (2%) [10]. Group 2: Financial Performance - Blue Ocean Bank reported a significant decline in financial performance, with operating income dropping by 39.42% year-on-year to 1.452 billion yuan and net profit falling by 47.86% to 415 million yuan [11]. - The bank's net interest margin decreased sharply from 4.34% to 2.35% within a year, indicating a substantial decline in profitability [11]. Group 3: Industry Context - The trend of suspending long-term deposit products is not isolated to Blue Ocean Bank; other small and medium-sized banks, such as the Tongyu Mongolian Village Bank and Meizhou Merchants Bank, have also canceled their 5-year fixed deposit products [13]. - The overall banking environment is characterized by a lack of high-yield assets to match high-cost liabilities, leading banks to halt deposit acquisition to control scale and costs [13][14]. - The article highlights a broader shift in the banking sector, where long-term deposit products are being phased out, and interest rates are declining, marking the end of an era where depositors could earn significant interest [12][14].

Core Viewpoint - The trend of large-denomination certificates of deposit (CDs) disappearing from the market is evident, with major banks removing long-term products to manage net interest margin pressures and adapt to changing monetary policies [1][2][3] Group 1: Market Changes - Major state-owned banks and national joint-stock banks have removed five-year large-denomination CDs from their offerings, with only short-term products available [1] - The availability of three-year large-denomination CDs is also tightening, with some banks halting new issuances [1][2] - The current offerings are primarily focused on one-year or shorter terms, with some banks only providing three-month or six-month products [2] Group 2: Reasons for Changes - The primary reason for banks discontinuing long-term large-denomination CDs is to alleviate the increasing pressure on net interest margins due to declining loan rates [2] - By reducing high-cost liabilities associated with long-term CDs, banks aim to optimize their liability structure and control overall funding costs [2][3] - This adjustment is seen as a proactive measure by banks in response to macroeconomic conditions and regulatory guidance [2] Group 3: Future Outlook - The role and form of large-denomination CDs are expected to undergo significant changes, with a shift towards shorter-term products becoming more common [3] - The interest rate advantage of large-denomination CDs is likely to diminish, aligning more closely with regular fixed-term deposits [3] - A long-term downward trend in deposit rates is anticipated, driven by monetary policy aimed at reducing financing costs for the real economy [3]