Core Viewpoint - Shenwan Hongyuan is committed to serving the financial sector and contributing to the construction of a financial powerhouse, aligning with national policies and focusing on innovation and excellence [1]. Group 1: Service to Technology Finance - Shenwan Hongyuan launched the first technology innovation fund in Xinjiang, with an initial scale of 500 million yuan, aimed at supporting the growth of technology enterprises in the region [4]. - The company assisted TCL Technology Group in completing a major asset acquisition project with a total transaction value of 11.562 billion yuan, marking the largest equity purchase in the electronics sector since 2021 [5]. - In Q3, Shenwan Hongyuan helped various companies issue a total of 12.5 billion yuan in technology innovation bonds, including 6 billion yuan for the National Oil and Gas Pipeline Group [7]. - The company supported Tianyue Advanced Technology in successfully listing on the Hong Kong Stock Exchange, raising approximately 2.044 billion HKD [8]. Group 2: Service to Green Finance - Shenwan Hongyuan acted as the lead underwriter for Hebei Bank's successful issuance of 5 billion yuan in green financial bonds, with a 3-year term and a low coupon rate of 1.83% [10]. - The company facilitated the issuance of the first green technology innovation REITs in the market, with a scale of 1.406 billion yuan, marking a significant milestone in the steel industry [11]. Group 3: Service to Digital Finance - Shenwan Hongyuan assisted Health 160 in its successful listing on the Hong Kong Stock Exchange, raising 400 million HKD, focusing on digital healthcare services [13]. Group 4: Service to External Opening - Shenwan Hongyuan participated in the 25th China International Investment Trade Fair, showcasing its commitment to the financial powerhouse strategy and internationalization efforts [16]. Group 5: Service to Regional Finance - The company established a listing service station in Xuhui District to provide tailored services for technology enterprises seeking to go public [19]. - Shenwan Hongyuan collaborated with China Gezhouba Group to issue 3 billion yuan in technology innovation bonds to support the western development strategy [20]. - The company invested 492 million yuan in a city renewal project in Shunyi District, Beijing, aimed at transforming the area into a new commercial landmark [22].

Core Viewpoint - The successful issuance of the short-term corporate bonds by the National Petroleum and Natural Gas Pipeline Group represents a significant step in enhancing the company's financial capabilities and solidifying its role as a key player in the oil and gas infrastructure sector [2][4]. Group 1: Bond Issuance Details - The bond issuance was for a total scale of 60 billion, with a maturity of 1 year and a coupon rate of 1.59%, achieving a subscription multiple of 4.6 times [2]. - This bond issuance marks the first time that Shenwan Hongyuan acted as a joint lead underwriter for the issuer, providing essential financing services [2]. Group 2: Company Role and Responsibilities - The issuer is the largest oil and gas infrastructure operator in the country, responsible for the core operations in the transportation of natural gas, crude oil, and refined oil [2]. - The company plays a crucial role in the construction of a unified national pipeline network and is responsible for the scheduling and operation of the national oil and gas trunk pipeline network [2]. Group 3: Collaboration and Future Plans - The successful bond issuance has deepened the cooperative relationship between Shenwan Hongyuan and the National Pipeline Group, laying a solid foundation for future comprehensive financial services [3][4]. - Shenwan Hongyuan plans to continue enhancing its collaboration with the National Pipeline Group, focusing on implementing national strategies and serving the real economy [4].

凭借走特色化、差异化、专业化的发展道路，这三年，国新证券交出一份亮眼成绩单。2022年至2024年 的营业收入分别为5.97亿元、16.21亿元和17.51亿元，净利润分别为5.01亿元、4.84亿元和3.20亿元。 2025年上半年，国新证券业绩同比大幅增长。 国新证券表示，作为央企券商，将积极响应政策号召，切实履行央企金融机构的责任担当，本次科技创 新债券的募集资金，将用于科技创新债券的投资，进一步助力科技创新领域的发展。 这是国新证券践行使命、服务大局，功能作用不断彰显的一个缩影。2022年8月8日，国新证券正式揭 牌，加入中国国新控股有限责任公司，成为国有资本运营公司的重要功能板块。国新证券党委委员、副 总经理汪强表示："三年来，国新证券深入推进精神、战略、组织、业务、管理'五个重塑'，聚焦'立足 国新、服务央企、助力国家战略'的功能定位，以专业服务赋能央企改革发展，以创新思维搭建资本与 实体的桥梁，以系统观念夯实内部管理基础，以党的建设把牢前行正确方向，初步实现了脱胎换骨的新 发展。" 汪强介绍，国新证券始终将把功能性放在首要位置，紧紧围绕"立足国有资本运营公司服务国资央企改 革大局"这一中心任务， ...