智通财经APP讯，广发证券(01776)发布公告，广发证券股份有限公司2025年面向专业投资者公开发行短 期公司债券(第二期)(债券简称："25广发D3"，债券代码：524135)将于2025年9月8日(2025年9月7日为休 息日，顺延至其后第1个交易日)支付2025年2月21日至2025年9月6日期间的利息及本期债券的本金。 本期债券"25广发D3"的票面利率为1.95%，本次兑付兑息每手(面值1000元)"25广发D3"兑付本息合计人 民币1010.58元(含税)。债券摘牌日：2025年9月8日。 ...

格隆汇9月4日丨广发证券(01776.HK)发布公告，广发证券股份有限公司2025年面向专业投资者公开发行 短期公司债券（第二期）（债券简称："25广发D3"，债券代码：524135）将于2025年9月8日（2025年9 月7日为休息日，顺延至其后第1个交易日）支付2025年2月21日至2025年9月6日期间的利息及本期债券 的本金。本期债券"25广发D3"的票面利率为1.95%，本次兑付兑息每手（面值1,000元）"25广发D3"兑 付本息合计人民币1,010.578082元（含税）。 ...

Group 1 - The company is set to pay interest and principal for the short-term corporate bond "25 Guangfa D3" on September 8, 2025, with a coupon rate of 1.95% [1][2] - Each hand (face value of 1,000 yuan) will receive a total of 1,010.578082 yuan (including tax) upon maturity, with the net amount for individual and fund holders being 1,008.462465 yuan after tax deductions [2][3] - The bond has a credit rating of A-1, while the company's overall credit rating is AAA with a stable outlook [1][3] Group 2 - The bond's interest income tax for individual holders is set at a rate of 20% on the interest amount, which will be withheld at the time of payment [3][4] - Foreign institutional investors are exempt from corporate income tax and value-added tax on bond interest income until December 31, 2025 [3][4] - The company will ensure that the bond payment is transferred to the designated bank account of China Clearing Shenzhen Branch two trading days before the payment date [2][3]

债券代码：524135 债券简称：25 广发 D3 广发证券股份有限公司 2025 年面向专业投资者公开发行短期公司债券（第二期） 2025 年兑付兑息及摘牌公告 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记 载、误导性陈述或者重大遗漏。 特别提示： 广发证券股份有限公司 2025 年面向专业投资者公开发行短期公司债券（第 二期）（债券简称："25 广发 D3"，债券代码：524135，以下简称"本期债券"） 将于 2025 年 9 月 8 日（2025 年 9 月 7 日为休息日，顺延至其后第 1 个交易日） 支付 2025 年 2 月 21 日至 2025 年 9 月 6 日期间的利息及本期债券的本金。为确 保本次兑付兑息工作的顺利进行，现将有关事宜公告如下： 一、本期债券基本情况 1、债券名称：广发证券股份有限公司 2025 年面向专业投资者公开发行短期 公司债券（第二期） 2、债券简称及代码：本期债券简称为"25 广发 D3"，债券代码为"524135"。 3、债券发行批准机关及文号：中国证券监督管理委员会证监许可〔2023〕 2404 号文。 4、发行期限、规模和利率：本期债券发 ...

从基金十大重仓股角度 数据显示，国联基金旗下1只基金重仓广发证券。国联核心成长（004671）二季度持有股数41.15万股， 与上期相比持股数量不变，占基金净值比例为9.52%，位居第一大重仓股。根据测算，今日浮亏损失约 11.93万元。连续4天下跌期间浮亏损失63.37万元。 国联核心成长（004671）成立日期2017年9月29日，最新规模7263.55万。今年以来收益26.6%，同类排 名2605/8180；近一年收益68.86%，同类排名1169/7978；成立以来收益130.31%。 9月4日，广发证券跌1.41%，截至发稿，报20.34元/股，成交13.53亿元，换手率1.12%，总市值1547.03 亿元。广发证券股价已经连续4天下跌，区间累计跌幅7.04%。 国联核心成长（004671）基金经理为吴刚。 截至发稿，吴刚累计任职时间7年304天，现任基金资产总规模4.4亿元，任职期间最佳基金回报 118.44%， 任职期间最差基金回报-24.76%。 资料显示，广发证券股份有限公司位于广东省广州市天河区马场路26号广发证券大厦，成立日期1994年 1月21日，上市日期1997年6月11日，公司主 ...

Core Viewpoint - Guangfa Securities experienced a decline of 2.04% in stock price on September 4, 2023, with a trading volume of 6.01 billion yuan and a market capitalization of 153.71 billion yuan [1] Financial Performance - As of June 30, 2025, Guangfa Securities reported a net profit of 6.47 billion yuan, representing a year-on-year growth of 48.31% [1][2] - The company has distributed a total of 38.84 billion yuan in dividends since its A-share listing, with 8.58 billion yuan distributed over the past three years [2] Stock Market Activity - The stock price of Guangfa Securities has increased by 27.83% year-to-date, but has seen a decline of 7.08% over the last five trading days [1] - The stock's trading activity shows a net outflow of 72.17 million yuan from main funds, with significant selling pressure observed [1] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 9.87% to 166,400, while the average circulating shares per person increased by 11.04% to 35,754 shares [1] - Major shareholders include China Securities Finance Corporation and Hong Kong Central Clearing Limited, with notable changes in their holdings [2]

智通财经APP获悉，广发证券发布研报称，A股非金融中报收入增速仍在负区间，利润增速放缓，二季度环比增速处于2010年以来最低水平。预计全年A 股非金融盈利预测仍在低个位数水平，业绩的修复仍非坦途。同时该行认为，行业比较的结构亮点已越来越多，包括海外更赚钱，对冲内需不足，支撑高 收入及高毛利率的行业；合同负债+预收账款表征订单增速抬升，并且股价与预收款增速正相关的行业；反内卷展现必要性很强，供需结构亟待改善的行 业。 反转策略上，看好风电电缆/整机/海风、海外汽车(灯控/IGBT)、军工(FPGA/导弹)、AI(液冷变压器)、锂电设备。 景气策略方面，该行认为AI/非美出口/对美出口α/半导体设备/锂电/部分端侧硬件/涨价化工品等有望维持景气，下半年及明年盈利能继续有30-40%及更高 的增长；SOC/摩托车/工程机械/交换机/电源等账面现金充裕、潜在供给扩张续力景气。 广发证券主要观点如下： 一季报超预期后、中报再度放缓，业绩的修复仍非坦途 A股非金融中报收入增速仍在负区间，利润增速放缓，二季度环比增速处于2010年以来最低水平。在年内"广义财政扩张→PPI→ROE"的业绩传导路径未 有显著变化的前提下，预计 ...

广发证券股份有限公司 在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，广发证券股份有限公司 2025 年 面向专业投资者公开发行短期公司债券（第八期）符合深圳证券交易所债券上市 条件，将于 2025 年 9 月 4 日起在深圳证券交易所上市，并面向专业投资者中的 机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成交和协 商成交。债券相关要素如下： 年 月 日 广发证券股份有限公司 2025 年面向专业投资者公开发行短 债券名称 | 期公司债券（第八期） | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券简称 25 广 D10 | | | | | | | | | | 债券代码 524418 | | | | | | | | | | 信用评级 主体评级 AAA/债项评级 | | | | | A-1 | | | | | 评级机构 中诚信国际信用评级有限责任公司 | | | | | | | | | | 发行总额（亿元） 50 | | | | | | | | | | 债券期限 360 ...

Group 1 - The core viewpoint of the articles highlights a significant decline in brokerage commission income from fund distribution due to new regulations, despite an increase in overall market trading volume [1][2][4] - In the first half of 2025, the total commission income for the industry was 4.46 billion yuan, a year-on-year decrease of 34%, with listed brokerages earning 4 billion yuan, down 35% [1][2] - The new commission regulation, effective from July 1, 2024, limits commission rates for passive equity funds to not exceed the average market rate, leading to a drastic reduction in commission rates [2][4] Group 2 - The top brokerage firms maintained their rankings, with CITIC Securities leading with 346 million yuan in commission income, followed by Guotai Junan and Haitong Securities [3][4] - The top ten brokerages accounted for 48.11% of the market share, indicating a persistent "Matthew Effect" where larger firms dominate [4] - Despite the overall decline, some smaller brokerages like Huayuan Securities and Huafu Securities experienced significant growth in commission income, with increases of over 20 times and 321.34% respectively [5][6] Group 3 - The research business is becoming the sole outlet for commission distribution among fund companies, with a shift towards enhancing research capabilities and expanding service models [8] - Brokerages are transitioning their research focus towards industry research and asset allocation, aiming to provide high-quality insights to government departments and enhance their influence in the industry [8] - The integration of artificial intelligence and big data technologies is being pursued to standardize research outputs and improve precision in client engagement [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The report highlights the company's strong performance in the first half of 2025, with total operating revenue reaching 15.4 billion yuan, a year-on-year increase of 34.4%, and net profit attributable to shareholders of 6.47 billion yuan, up 48.3% year-on-year [3][11] - The report anticipates continued growth in the company's performance, driven by an active trading environment and a recovery in the equity market [15] Financial Performance Summary - For the first half of 2025, the company achieved total operating revenue of 154 billion yuan, with a year-on-year growth of 34.4% and a net profit of 64.7 billion yuan, reflecting a year-on-year increase of 48.3% [3][11] - The weighted average ROE was 4.83%, an increase of 1.44 percentage points compared to the same period last year [3][11] - In Q2 2025, the company reported a single-quarter operating revenue of 81.6 billion yuan, a year-on-year increase of 25.3% and a quarter-on-quarter increase of 12.7% [3][11] Business Segment Performance - Brokerage business revenue for H1 2025 was 39.2 billion yuan, up 42% year-on-year, accounting for 26.1% of the main securities revenue [12] - Asset management revenue for H1 2025 was 36.7 billion yuan, reflecting an 8.5% year-on-year increase [13] - Investment business revenue for H1 2025 was 52.4 billion yuan, a year-on-year increase of 42.7% [14] Future Projections - The report projects revenues for 2025, 2026, and 2027 to be 32.1 billion yuan, 34.8 billion yuan, and 37.2 billion yuan respectively, with year-on-year growth rates of 18.1%, 8.4%, and 6.9% [15] - Net profits for the same years are projected to be 13.6 billion yuan, 15.5 billion yuan, and 17.5 billion yuan, with growth rates of 41.3%, 13.6%, and 13.1% respectively [15]