Core Viewpoint - The securities industry is expected to see a stable recovery in valuations and investment opportunities in the second half of 2025, despite a 7.51% decline in the A-share securities index since the beginning of the year [1][2]. Group 1: Industry Performance and Outlook - The securities sector's fundamental recovery is ongoing, with a notable 37.7% year-on-year growth in net profit for the first half of 2025 [2]. - The implementation of various reform policies in the capital market is anticipated to further stimulate market activity and investor interest [2]. - The net profit growth rate for the securities industry is projected to reach 17.3% year-on-year in 2025 under neutral assumptions, with an annualized ROE expected to rise to 6% [2]. Group 2: Mergers and Acquisitions - Active merger and acquisition activities are noted within the industry, including significant cases such as Guotai Junan's absorption of Haitong Securities and Guolian Securities' acquisition of Minsheng Securities [2]. - The ongoing mergers and acquisitions are expected to drive supply-side reforms in the securities industry, allowing larger firms to consolidate their advantages while providing opportunities for smaller firms to catch up [2]. Group 3: Investment Opportunities - Institutions recommend focusing on three main investment lines: 1. Securities firms with high growth potential and low valuations, particularly those expected to show significant performance improvements in the 2025 mid-year report [3]. 2. Leading comprehensive securities firms with balanced business structures and strong professional capabilities, which are better positioned to adapt to industry changes [3]. 3. Securities firms that may become acquisition targets or acquirers, as ongoing mergers and acquisitions are likely to continue [3]. - The combination of favorable policies, solid fundamentals, and liquidity is expected to enhance the resilience of the securities sector [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 國泰海通證券股份有限公司 Guotai Haitong Securities Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02611） 海外監管公告 本公告乃由國泰海通證券股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站發佈之《國泰海通證券股份有限公司關於向 專業投資者公開發行科技創新公司債券獲得中國證券監督管理委員會註冊批覆的 公告》，僅供參閱。 承董事會命 國泰海通證券股份有限公司 朱健 董事長 国泰海通证券股份有限公司 关于向专业投资者公开发行科技创新公司债券 获得中国证券监督管理委员会注册批复的公告 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。 日前，国泰海通证券股份有限公司（以下简称公司）收到中国证券监督管 ...

证券代码：601211 证券简称：国泰海通 公告编号：2025-071 国泰海通证券股份有限公司 关于向专业投资者公开发行科技创新公司债券 获得中国证券监督管理委员会注册批复的公告 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。 日前，国泰海通证券股份有限公司（以下简称公司）收到中国证券监督管理委员会 （以下简称中国证监会）《关于同意国泰海通证券股份有限公司向专业投资者公开发行 科技创新公司债券注册的批复》（证监许可〔2025〕1213 号），批复内容如下： 一、同意公司向专业投资者公开发行面值总额不超过 150 亿元科技创新公司债券的 注册申请。 二、本次发行科技创新公司债券应严格按照报送上海证券交易所的募集说明书进 行。 三、本批复自中国证监会同意注册之日起 24 个月内有效,公司在注册有效期内可以 分期发行科技创新公司债券。 四、自中国证监会同意注册之日起至本次科技创新公司债券发行结束前，公司如发 生重大事项，应及时报告并按有关规定处理。 公司将按照有关法律法规和上述批复文件的要求办理本次科技创新公司债券发行 的相关事宜 ...

Core Viewpoint - Guotai Junan has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue technology innovation corporate bonds with a total face value of up to 15 billion yuan [1] Summary by Category Company Actions - The company plans to issue technology innovation corporate bonds totaling no more than 15 billion yuan [1] - The approval from CSRC is valid for 24 months from the date of registration [1] - The company can issue the bonds in multiple tranches within the validity period [1]

FF305 表格類別： 股票 狀態： 新提交 公司名稱： 國泰海通證券股份有限公司(「本公司」) 呈交日期： 2025年6月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | | A股於上海證券交易所上市(證券代號: 601211) | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 國泰海通證券股份有限公司(「本公司」) 呈交日期： 2025年6月17日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 若購回/贖回股份將於期終結存日期之後購回/贖回結算完成之時予以註銷，則該等購回/贖回股份仍屬A部所述期終結存當日的已發行股份的一部分。該等購回/贖回股份的詳情應在B部作 出披露。 第 2 頁 共 6 頁 v 1.3.0 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 國泰海通證券股份有限公司(「本公司」) 呈交日期： 2025年6月18日 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 若購回/贖回股份將於期終結存日期之後購回/贖回結算完成之時予以註銷，則該等購回/贖回股份仍屬A部所述期終結存當日的已發行股份的一部分。該等購回/贖回股份的詳情應在B部作 出披露。 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | ...

新浪期货 根据交易所数据，截至6月18日收盘主力合约短纤2508,涨跌+3.05%,成交量22.60万手，持仓数据显示前20席位呈现净 空，差额头寸为1984手。 短纤期货全合约总计成交40.29万手，比上一日新增6.28万手。全合约前20席位多头持仓24.02万手，比上一日增加8287手。全合约 前20席位空头持仓24.59万手，比上一日增加7132手。 根据合并数据显示，多头前三席位为中信期货，总持仓26938、国泰君安，总持仓22256、银河期货，总持仓15813；空头前三席位 为国泰君安，总持仓26772、中信期货，总持仓25290、浙商期货，总持仓16632； 主力合约前20席位中，多头增仓前三名分别是：银河期货、持仓10099、增仓1361，海通期货、持仓8110、增仓1171，乾坤期货、 持仓11433、增仓1150；多头减仓前二名分别是：中信建投、持仓5732、减仓-3455，永安期货、持仓5729、减仓-2000； 2025年6月18日短纤主力合约2508持仓数据一览 | | 名次 会员名称 成交量(双边) | | 增减 | 会员 | 持买单 | 增减 | 会员 | 持卖单 | 增减 | | ...

Financial Performance Summary - In 2024, the company reported operating revenue of 275.38 million yuan, a decrease of 0.96% year-on-year [1][2] - The net profit attributable to shareholders was 31.64 million yuan, down 78.33% compared to the previous year [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 19.15 million yuan, a decrease of 30.95% year-on-year [1][2] - The net cash flow from operating activities was 20.68 million yuan, down 35.74% year-on-year [1][2] Q1 2025 Performance - In Q1 2025, the company achieved operating revenue of 41.08 million yuan, a decrease of 28.19% year-on-year [3] - The net profit attributable to shareholders was 143,243.60 yuan, a significant drop of 98.20% compared to the same period last year [3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -1.43 million yuan, a decrease of 131.04% year-on-year [3] - The net cash flow from operating activities was 2.89 million yuan, down 84.94% year-on-year [3] Initial Public Offering (IPO) Details - The company raised a total of 571 million yuan from its IPO, with a net amount of 511 million yuan after deducting issuance costs [4] - The final raised funds exceeded the original plan by 91.19 million yuan [4] - The IPO was conducted on January 26, 2021, with an issuance price of 30.39 yuan per share [5]

Core Viewpoint - The company reported a significant increase in revenue for 2024, but also faced substantial losses in net profit, indicating potential challenges in profitability despite revenue growth [1][2]. Financial Performance Summary - **2024 Annual Report**: - Revenue reached 4.72 billion yuan, a year-on-year increase of 24.69% compared to 3.78 billion yuan in 2023 [2]. - Net profit attributable to shareholders was -156.34 million yuan, a decrease of 1,008.97% from a profit of 17.20 million yuan in the previous year [2]. - Net profit excluding non-recurring gains and losses was -180.79 million yuan, worsening by 588.79% from -26.25 million yuan in 2023 [2]. - Net cash flow from operating activities was -464.75 million yuan, an improvement of 22.56% from -600.13 million yuan in the previous year [2]. - **2025 Q1 Report**: - Revenue for the first quarter was 1.39 billion yuan, a significant increase of 56.29% from 892.46 million yuan in the same period last year [3]. - Net profit attributable to shareholders was 4.75 million yuan, a turnaround from a loss of -27.70 million yuan in the previous year, marking a 117.16% improvement [3]. - Net profit excluding non-recurring gains and losses was -4.78 million yuan, an improvement of 85.29% from -32.46 million yuan in the previous year [3]. - Net cash flow from operating activities was -509.89 million yuan, a decline of 46.37% from -348.36 million yuan in the same period last year [3]. Company Background - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on January 27, 2022, with an initial public offering of 20.73 million shares at a price of 17.27 yuan per share [4]. - The total amount raised from the initial public offering was 357.93 million yuan, with a net amount of 343.01 million yuan, exceeding the original plan by 223.29 million yuan [4]. - The funds raised are intended for projects including the annual production of 20,000 tons of high-precision energy storage ultra-thin electronic copper foil and a high-performance electronic copper foil technology center [4][5].