法尔胜公告称，公司拟现金出售中国贝卡尔特钢帘线有限公司10%股权，本次交易构成重大资产重组。 独立财务顾问太平洋证券核查后认为，交易不涉及立项等报批事项，相关报批及程序已披露并提示风 险；不适用《上市公司监管指引第9号》第四条部分规定；有利于改善公司财务状况，提升可持续经营 能力，不会影响独立性、新增同业竞争及非必要关联交易，符合该条相关规定。 ...

本次交易顺利实施后，将有利于优化公司资产结构，提高资产运营效率，降低管理成本。通过本次交 易，公司和Ball Corporation的全球战略合作关系继续深化;同时，预计交易将产生一定投资收益，对当 期经营业绩存在正面影响。 奥瑞金（002701）(002701.SZ)公告，公司与RexamLimited于2025年8月26日签署股权买卖协议，公司下 属控股子公司Benepack Hong Kong Limited("贝纳香港")拟向Rexam Limited出售其持有的控股子公司 Benepack Belgium N.V.("贝纳比利时")80%股权。 标的公司整体企业价值为1.38亿欧元，对应80%股权的基础对价为1.104亿欧元，最终交易对价将根据交 割日报表的现金、负债及营运资金等指标进行相应调整，预计调整后交易金额约为5000万欧元至6000万 欧元。交易股权转让后，Rexam Limited持股80%股权，贝纳香港持股20%股权，贝纳比利时将不再纳入 公司合并报表范围。 ...

近日，多地陆续发布"十五五"规划建议，金融助力实体经济高质量发展成为各地重要布局内容。共性方 面，各地均将大力发展金融"五篇大文章"、提升直接融资比重、强化金融风险防控作为核心抓手；差异 化布局方面，各地结合自身区位优势与发展定位各有侧重，形成"共性锚定实体经济、特色贴合地方发 展"的鲜明格局。 "金融助力实体经济高质量发展这一布局思路成为各地共同选择，源于其直指经济高质量发展核心矛盾 ——破解资源错配、提升全要素生产率。"南开大学金融学教授田利辉在接受《证券日报》记者采访时 表示，金融工具是实现"做优增量、盘活存量"的核心枢纽。通过精准配置资金，引导资本流向科技创 新、绿色低碳等高附加值领域，激活存量资产价值，实现"存量挖潜、增量提质"的良性循环。 各地布局有侧重 "十五五"时期是我国基本实现社会主义现代化夯实基础、全面发力的关键阶段。在此背景下，发挥金融 工具在资源配置中的核心枢纽作用，精准运用金融手段成为各地破解发展难题、推动经济高质量发展的 共同选择。 事实上，各地"十五五"规划建议中密集点题金融工具，核心在于其能实现"做优增量"与"盘活存量"两大 目标，成为破解区域经济发展堵点的重要抓手。 从"做优 ...

截至12月8日收盘，中国中冶股价为3.39元，市值为667亿元。 12月8日晚，中国中冶公告(601618.SH)称，公司拟将所持有的中冶置业100%股权及对中冶置业的标的 债权，有色院、中冶铜锌、瑞木管理100%股权，中冶金吉67.02%股权，以及华冶杜达100%股权出售给 五矿地产控股和中国五矿，交易价格为606.76亿元。本次交易构成关联交易，不构成重大资产重组，已 达到股东会审议标准，需提交股东会审议批准。 0:00 ...

人民财讯12月7日电，中国共产党广西壮族自治区委员会关于制定国民经济和社会发展第十五个五年规 划的建议发布。其中提出，深化财税金融改革。加强财政科学管理，强化财源建设，规范政府非税收入 管理。加强财政资源和预算统筹，强化重大战略任务和基本民生财力保障。加强财政金融联动。推进财 政体制改革，完善转移支付制度，增强基层自主财力。推动地方税制结构优化，精准落实税费优惠政 策。深化零基预算改革，统一预算分配权，强化预算绩效管理，优化财政支出结构，完善国库集中收付 制度，加强财会监督。畅通货币政策传导机制。推动人工智能与金融双向赋能。建立健全与创新相适应 的科技金融体制。鼓励金融机构进行绿色金融创新。持续完善普惠金融标准化产品体系。丰富发展养老 金融产品和服务。优化融资担保体系，完善金融服务实体经济政策。积极发展股权、债券等直接融资， 培育壮大耐心资本，支持上市公司提质。推动地方法人金融机构深化改革、减量提质。推动数字人民币 稳步发展，深化跨境金融创新，扩大人民币跨境使用。 ...

Core Viewpoint - The article by Wu Qing, Chairman of the China Securities Regulatory Commission, emphasizes the need to enhance the inclusiveness and adaptability of the capital market system, focusing on cultivating more high-quality listed companies [2][11]. Summary by Relevant Sections Context and Framework - The article should be viewed within the context of the "Suggestions for Formulating the 15th Five-Year Plan for National Economic and Social Development," which has been published as a guidebook. Wu Qing's article is part of this broader narrative and is found on pages 284 to 290 of the publication [2][12]. Key Tasks and Measures - The article outlines six key tasks: 1. **Promote Direct Financing**: This includes developing diverse equity financing, supporting quality enterprises in issuing shares, and advancing private equity and venture capital funds, as well as green bonds and real estate investment trusts [5][15]. 2. **Cultivate High-Quality Listed Companies**: The focus is on identifying and evaluating quality enterprises, emphasizing the importance of transparency in information [5][15]. 3. **Create an Attractive Long-Term Investment Environment**: This involves aligning the interests of funds with those of investors and establishing long-term assessment mechanisms [5][15]. 4. **Enhance Regulatory Effectiveness**: The article stresses the use of modern technologies like big data and AI for effective risk identification and the importance of grassroots feedback in regulation [5][15]. 5. **Expand High-Level Institutional Opening**: Wu Qing advocates for a gradual approach to opening up the capital market, promoting efficient capital flow and mutual learning between onshore and offshore markets [5][15]. 6. **Foster a Vibrant Capital Market Ecosystem**: Emphasizing the need for a collaborative environment to ensure the capital market functions effectively [5][15]. Market Principles - The article underscores the importance of maintaining a balance between supply and demand in the market, suggesting that this principle should guide reforms and governance [6][16].

Core Insights - The insurance asset management industry in China has shown significant growth, with total assets under management reaching 33.3 trillion yuan by the end of 2024, marking a year-on-year increase of 10.6% [1] - The overall income of 34 insurance asset management companies amounted to 31.83 billion yuan in 2024, reflecting a growth rate of 7.31% [1][6] Group 1: Asset Management Overview - As of the end of 2024, the insurance asset management industry maintained a diversified structure, with internal insurance funds amounting to 23.5 trillion yuan, accounting for 70.56% of total managed assets [2] - The management of third-party insurance funds has seen a decline in proportion over the past two years, while the management of pension funds has increased [2] - The growth rate of internal insurance funds was 15.4%, while third-party insurance funds experienced a decline of 1.5% [2] Group 2: Investment Allocation - The total investment assets of insurance asset management companies reached 32.68 trillion yuan in 2024, representing a year-on-year growth of 25% [4] - The allocation structure included 15.18 trillion yuan in bonds (46%), 6.66 trillion yuan in financial products (20%), and 2.17 trillion yuan in stocks (7%) [4] - Stock investments saw a growth rate of 36%, indicating a strong shift towards equities [4] Group 3: Performance and Revenue - In 2024, 21 institutions reported a comprehensive return rate exceeding 5%, with 10 institutions surpassing 8% [6] - The total revenue for the industry reached 31.83 billion yuan, with a compound annual growth rate (CAGR) of 8.48% from 2016 to 2024 [6][7] - The revenue from specialized account business grew by 19.21%, while the income from bond investment plans decreased by 16.82% [7] Group 4: Workforce and Growth - The number of employees in the insurance asset management sector increased to 7,631, reflecting a growth rate of 1.76% compared to the previous year [7]

Core Insights - The development of the private equity market and regional equity markets in China is still in its early stages, facing systemic challenges that need to be addressed for growth [3][10] - The off-market capital market is crucial for the future trajectory of China's capital markets, as it directly influences the momentum of the stock market [4][5] Off-Market Capital Market Evolution - The off-market capital market is characterized by a diverse range of participants and significant potential scale, impacting the future of China's capital markets [4] - Internationally, off-market markets are evolving towards specialization, technological advancement, and regulatory collaboration, contrasting with the more liquid and transparent on-market exchanges [4] Regional Equity Market Development - The regional equity market in China began in the early 2010s and saw explosive growth in 2015, with over 40,000 companies listed by 2015 and currently 35 regional markets serving 170,000 enterprises [5] - The service offerings of regional equity markets have expanded significantly, now including a diverse range of products such as equity and bond trading, fund transfers, and employee stock ownership plans [5] Role of Private Equity and Venture Capital - The rise of private equity and venture capital in China reflects the evolution of off-market capital formation, with over 12,000 fund managers and a total fund size exceeding 14.3 trillion yuan by the end of 2024 [7] - In 2024, the private equity market completed over 8,408 investment cases, amounting to 638 billion yuan, with approximately 60% of funds directed towards strategic emerging industries [7] Opportunities and Challenges in Off-Market Capital Markets - The off-market capital market is positioned to support technological innovation and provide accessible equity services to a vast number of small and medium-sized enterprises (SMEs) [8][9] - The current challenges include information asymmetry, low trading efficiency, weak resource allocation capabilities, and limited exit options for investors [10][11] Recommendations for Improvement - To enhance the quality of the multi-tiered capital market, it is suggested to focus on improving equity services, refining exit mechanisms, and strengthening policy support [12][14] - Establishing a comprehensive equity service system and enhancing data collection and disclosure practices are essential for building a robust off-market capital market [12][13]

Group 1 - Gansu Property Exchange Group Co., Ltd. has officially announced the recruitment of investment institutions and investors to diversify market participation and enhance the property trading system [1][3] - The recruitment targets both domestic and international investment institutions with substantial capital and industry experience, following principles of openness, fairness, and justice [1][3] - Gansu Property Exchange Group is the only comprehensive property exchange in Gansu Province and the only trading group in Northwest China, serving as a key financial infrastructure and market platform for resource allocation [3] Group 2 - The investment project matrix introduced in this recruitment highlights a "diversified and high-potential" characteristic, covering both traditional and emerging sectors [6] - The project library includes traditional quality assets such as equity, debt, real estate, and land, as well as emerging projects like green low-carbon initiatives and digital economy assets, aligning with national strategies [6] - The recruitment offers a comprehensive investment menu that caters to various risk preferences and investment needs, including unique categories like high-end liquor and luxury goods [6] Group 3 - The recruitment process allows for a convenient registration method, ensuring confidentiality of all submitted information [8] - The company aims to leverage this recruitment as an opportunity to build a more efficient bridge for supply and demand, promoting the integration of social capital with quality projects [8] - The initiative is expected to contribute to the high-quality development of the Gansu property market [8]

Core Viewpoint - The A-share market is experiencing a surge in asset sales as companies aim to liquidate non-core assets and improve financial performance ahead of year-end [1][2]. Group 1: Asset Sales Trends - Nearly 300 listed companies have announced asset sales since October, significantly higher than in previous quarters, with over 100 being first-time disclosures [1]. - Companies are selling assets to recover cash and enhance profits, with examples including *ST Baoying planning to sell real estate for approximately 86.87 million yuan, expecting a profit impact of about 42 million yuan [2]. - The trend includes divesting low-efficiency assets to focus on core business operations, as seen with Zhujiang Free Trade Group's sale of real estate assets for about 5.518 billion yuan [3]. Group 2: Distressed Asset Sales - Some companies are selling loss-making assets to mitigate losses, such as Songyang Resources, which plans to sell a subsidiary after incurring cumulative losses of about 750 million yuan [4]. - The practice of "1 yuan" or "0 yuan" asset sales has emerged, raising market concerns, with examples including Jinbei Automobile's transfer of a subsidiary valued at -77.36 million yuan for a minimum of 1 yuan [5][6]. - These low-priced transfers often involve negative net assets and may include hidden liabilities, which can improve financial metrics but also raise red flags regarding the company's fundamentals [6][7]. Group 3: Regulatory and Market Reactions - The Shanghai Stock Exchange has begun inquiring about companies engaging in low-priced asset transfers, focusing on their operational viability and asset evaluation [7]. - Concerns exist regarding potential year-end rush transactions aimed at avoiding delisting, although new regulations have made such maneuvers more challenging [7].