智通财经APP获悉，中金公司发布研报称，A股权重行业上半年盈利增长普遍较好，助力指数表现。非金融ROE基本持平，资本开支增速回升，现金流量 表改善且资产负债表维持韧性。该行指出，财务报表显示整体盈利仍待改善，结构机会较多。市场有望进入资金面驱动的上涨行情，建议配置以进攻型高 景气为主，中期仍将是市场主线：如AI从基础设施到应用环节(算力、云计算、机器人、消费电子等)，以及获得国际认可的创新药，有军贸突破和技术进 步催化的航空航天，受益地缘局势和新技术的有色金属，直接受益市场活跃的券商、保险和多元金融等。随着市场涨幅已经较大，风格上可适度关注高确 定性主线。 中金公司主要观点如下： 业绩增长：下半年非金融业绩增速有望好于上半年，中报结构层面亮点突出 2025年上半年A股公司盈利同比增长2.8%，非金融盈利同比微增1.5%。全A/金融/非金融2025年上半年归母净利润分别增长2.8%/4.2%/1.5%，非金融营业 收入同比小幅下滑0.4%。其中单二季度来看，全A/金融/非金融净利润同比+1.6%/+5.7%/-1.6%，非金融盈利增长再度转负。宏观层面，房地产和出口均相 比一季度增长回落，PPI同比跌幅进一步扩 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 中铁特货物流股份有限公司（以下简称"公司"）于近日接到保荐机构及持续督导机构中国国际金融股份 有限公司（以下简称"中金公司"）《关于变更中铁特货物流股份有限公司持续督导保荐代表人的说 明》。中金公司作为公司首次公开发行股票并在深圳证券交易所上市及持续督导的保荐机构，原指定王 珏先生、米凯先生为前述项目的持续督导保荐代表人，持续督导期至2024年12月31日止。截至目前，持 续督导期已满，因公司募集资金尚未使用完毕，中金公司将对该事项继续履行持续督导义务。 现王珏先生因工作变动，不再担任公司的持续督导保荐代表人。中金公司为不影响公司持续督导工作的 正常进行，根据相关法律法规的规定，决定委派邢茜女士接替王珏先生继续担任公司持续督导的保荐代 表人，履行持续督导职责。 本次变更不影响中金公司对公司的持续督导工作。本次变更后，公司的持续督导保荐代表人为邢茜女士 和米凯先生。 公司董事会对王珏先生在担任公司保荐代表人期间所做出的贡献表示衷心的感谢！ 特此公告。 证券代码：001213 证券简称：中铁特货 公告编号：2025-040 中铁特货物流股份有限公司 关于变更持续督 ...

轻松健康集团在港交所提交IPO申请，中金公司、招商证券国际为联席保荐人。 ...

Group 1 - Hefei Chipcore Microelectronics Equipment Co., Ltd. has submitted an IPO application to the Hong Kong Stock Exchange [1] - China International Capital Corporation (CICC) is the sole sponsor for the IPO [1]

the first 从数据来看，2025年上半年，中金公司服务中资企业全球IPO合计21单，融资规模111.44亿美元，排名市场第一。 8月29日晚，中国国际金融股份有限公司（下称"中金公司"，601995.SH，3908.HK）交出了一份成绩斐然的半年报。其营收与归母净利润均实现了两位数的 正增长。 半年报披露，中金公司上半年营业收入为128.28亿元，同比增长43.96%；归母净利润为43.30亿元，同比增长94.35%；扣非归母净利润为42.43亿元，同比增 长93.30%；基本每股收益0.81元，同比增长106.91% 。 在业绩实现大增的同时，中金公司也抛出了大手笔分红预案：拟派发现金股利总额为4.34亿元。中金公司称，以截至公告披露日的股份总数48.27亿股计算， 每10股拟派发现金股利0.90元（含税）。 中金公司表示，2025年上半年，中国资本市场波动式上涨，活跃度继续提升，在市场情绪回暖及低基数效应共同作用下，证券行业盈利显著增长。 "2025年上半年，公司聚焦科技金融、绿色金融、普惠金融、养老金融、数字金融"五篇大文章"，持续增强服务实体经济质效；发挥桥梁纽带作用，积极服 务高水平对外开放 ...

证券研究报告·海外公司点评·非银金融 中金公司（03908.HK） 2025年中报点评：受益于境内境外市场活跃， 净利润增速超 90% 买入（维持） | Table_EPS] [盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 35,446 | 33,172 | 40,167 | 39,445 | 40,951 | | 同比（%） | -5.22% | -6.42% | 21.09% | -1.80% | 3.82% | | 归母净利润（百万元） | 6,156 | 5,694 | 10,078 | 9,043 | 9,478 | | 同比（%） | -18.97% | -7.50% | 76.98% | -10.27% | 4.80% | | EPS-最新摊薄（元/股） | 1.28 | 1.04 | 2.09 | 1.87 | 1.96 | | P/E（现价&最新摊薄） | 15.14 | 18.56 | 9.25 | 10.31 | 9.83 | 执 ...

Core Viewpoint - CICC reported strong mid-term performance for the period ending June 30, 2025, with significant growth in revenue and net profit, indicating robust business operations and market positioning [1] Group 1: Financial Performance - CICC achieved total operating revenue of RMB 12.83 billion, a year-on-year increase of 44% [1] - The net profit attributable to shareholders reached RMB 4.33 billion, reflecting a 94% year-on-year growth [1] - The weighted average return on equity (ROE) stood at 4.2% [1] Group 2: Investment Banking Business - CICC's investment banking segment capitalized on market opportunities, leading in domestic and international equity financing [1] - The company completed notable projects including Ningde Times and Haitian Flavoring, maintaining the top position in both global IPOs and Hong Kong IPOs for Chinese enterprises [1] - CICC ranked second among Chinese brokers in overseas bond underwriting, with a significant increase in both domestic and international bond underwriting volumes [1] Group 3: Asset Management and Private Equity - The asset management division reported a business scale of approximately RMB 586.7 billion, managing 848 products [3] - CICC's public fund management scale reached RMB 220.2 billion, a 6.2% increase from the previous year [3] - The private equity business maintained a leading market position with assets under management reaching RMB 489.8 billion [3] Group 4: Wealth Management - Wealth management products and advisory services reached historical highs, with product scale growing to nearly RMB 400 billion [4] - The company managed 9.39 million clients, with total account assets valued at approximately RMB 3.4 trillion [4] - CICC introduced innovative product service models to meet diverse asset allocation needs [4] Group 5: Overall Company Growth - As of June 30, 2025, CICC's total assets amounted to RMB 699.8 billion, with net assets attributable to shareholders at RMB 118.8 billion [4] - The company emphasized its commitment to supporting the real economy and contributing to the development of a modern industrial system in China [4]

Core Insights - CICC achieved its best performance in nearly three years, exceeding expectations with significant revenue and profit growth [1][2][3] Financial Performance - CICC reported total revenue of RMB 12.83 billion, a year-on-year increase of 44% [2] - The net profit attributable to shareholders reached RMB 4.33 billion, marking a 94% increase year-on-year [2] - Total assets reached a record high of RMB 699.8 billion, with net assets attributable to shareholders at RMB 118.8 billion [3] Business Segments - The growth was driven by overseas and investment banking businesses, with overseas revenue exceeding RMB 6 billion [3] - Investment banking revenue surged by 149%, maintaining the highest market share in Hong Kong IPOs [4][6] - CICC led the market with 21 out of 51 global IPOs for Chinese companies, capturing approximately 30% market share [5] Overseas Operations - CICC's overseas business revenue accounted for nearly 50% of total revenue, with a 31% year-on-year growth [7] - The company completed significant projects in various regions, including Hong Kong, the Middle East, and Europe [8][9][10] Diversification and Growth - CICC's wealth management business reached a record scale of nearly RMB 400 billion, with innovative product offerings [11] - The company maintained a leading position in fixed income and asset management, with total assets under management of approximately RMB 586.7 billion [12] Strategic Vision - CICC aims to become a world-class investment bank, focusing on high-quality development and expanding its global footprint [13][14]

8 月 29 日晚间，上市券商半年报 " 收官 " ，中金公司业绩突破预告上限，交出近三年最佳成绩单。 半年报显示，中金公司合计实现营业收入人民币 128.3 亿元，同比增长 44% ；实现归母净利润人民币 43.3 亿元，同比增长 94% 。 值得注意的是，公司总资产再创历史新高。报告显示，截至 2025 年 6 月 30 日，总资产为人民币 6998 亿元，归母净资产为人民币 1188 亿元。 " 超预期 " 成为市场对这份成绩单的一致评价。从各项业务来看， 海外业务与投行业务成为驱动增长的双引擎 ：前者贡献收入逾 60 亿 元，后者在港股 IPO 、美元债、跨境并购三大赛道全面爆发，中金 " 国家队 + 全球化 " 的战略轮廓愈发清晰。 投行业务同比大增 149% 港股 IPO 市占率稳居第一 Wind 数据显示，上半年投资银行业务手续费净收入超 10 亿元的券商共有 5 家，分别为中信证券、国泰海通、中金公司、华泰证券和中 信建投。其中，中金公司增长幅度最大，超过 149% 。 | 홍콩 | 券商 | | 投行业务收入 | | | --- | --- | --- | --- | --- | | | | ...

Core Insights - The company reported significant growth in revenue and net profit for the first half of 2025, with revenue reaching 12.828 billion yuan and net profit attributable to shareholders at 4.330 billion yuan, representing year-on-year increases of 44.0% and 94.4% respectively [1] - The second quarter of 2025 also showed strong performance, with revenue and net profit at 7.107 billion yuan and 2.288 billion yuan, reflecting quarter-on-quarter increases of 24.2% and 12.1% [1] Financial Performance - The company's weighted average ROE increased by 2.04 percentage points year-on-year to 4.2% [1] - The operating leverage, excluding client funds, decreased by 2.4% to 4.85 times [1] - The management expense ratio improved, decreasing by 11.53 percentage points to 60% [1] Business Segments - Brokerage, investment banking, and asset management revenues showed comprehensive improvement, with net incomes of 2.652 billion yuan, 1.668 billion yuan, and 680 million yuan respectively, representing year-on-year increases of 49.9%, 30.2%, and 22.3% [1] - The average daily trading volume in the A-share market increased by 61.1% year-on-year, with the company's net income from agency trading rising by 28% [1] - In investment banking, the underwriting amount for A-share refinancing surged by 676.9% to 67.242 billion yuan, while H-share IPO and refinancing scales grew by 408.2% and 201.1% respectively [1] - In asset management, both collective and single asset management scales increased by 4.1% and 8.9% year-on-year [1] Investment and International Business - The company's self-operated investment improved year-on-year, with investment income reaching 7.428 billion yuan, a 51% increase [2] - As of the end of the first half of 2025, the company's financial asset scale grew by 4.7% to 389.4 billion yuan [2] - The international business segment saw a significant increase in net profit, up 169% year-on-year to 2.634 billion HKD, accounting for 56.1% of the company's total net profit [2] - The company is optimistic about the recovery of the equity market and the restoration of A/H share issuance, which is expected to enhance profitability [2] Future Projections - The company forecasts net profits attributable to shareholders for 2025-2027 to be 7.229 billion yuan, 7.763 billion yuan, and 9.051 billion yuan, representing year-on-year growth rates of 27.0%, 7.4%, and 16.6% respectively [2] - The closing price on August 29, 2025, corresponds to PB ratios of 1.75, 1.63, and 1.51 for the years 2025, 2026, and 2027 [2]