证券代码：600958 证券简称：东方证券 公告编号：2025-051 东方证券股份有限公司 重要内容提示： 会议召开地点：上海证券交易所上证路演中心（网址：http s://roadshow.sseinfo.com/） 投资者可于 2025 年 11 月 3 日（星期一）至 11 月 7 日（星 期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过 ir@orientsec.com.cn 进行提问。公司将在说明会上对投资者 普遍关注的问题进行回答。 东方证券股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告。为便于广大投资者更全面深入 地了解公司的经营成果和财务状况，公司计划于 2025 年 11 月 10 日 （星期一）15:00-16:00 举行 2025 年第三季度业绩说明会，就投资 者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2025 年第三 季度经营成果及财务指标的具体情况与投资者进行互动交流和沟通， 在信息披露允许的范围内就投资者普遍关注的问题进行回答。 1 关于召开 2025 ...

Core Viewpoint - The company has released its third-quarter report for 2025, ensuring the accuracy and completeness of the financial information presented [11][12]. Financial Data - The financial data for the third quarter includes key accounting figures and financial indicators, with all amounts reported in Renminbi [3][5]. - The report indicates that the financial statements have not been audited [9]. Adjustments and Accounting Changes - The company has made retrospective adjustments to its financial statements due to changes in accounting policies related to standard warehouse trading, as mandated by the Ministry of Finance in July 2025 [4][9]. - The retrospective adjustments did not impact the total profit and net profit for the year 2024, but affected the comparative financial statements [9]. Shareholder Information - The report includes details on the total number of ordinary shareholders and the shareholding status of the top ten shareholders [8]. Board Meeting Resolutions - The sixth board meeting of the company approved the third-quarter report with unanimous consent from all 15 voting directors [11][14]. - Additionally, the board approved adjustments to the annual asset-liability allocation plan [14].

Group 1 - Huatai Securities (601688.SH) experienced a stock price decline, closing at 21.72 yuan, with a drop of 4.53% [1] - GF Securities (000776.SZ) also saw a decrease in stock price, closing at 22.57 yuan, down by 4.16% [1] - Dongfang Securities (600958.SH) reported a stock price drop, closing at 10.89 yuan, with a decline of 4.05% [1] Group 2 - The securities sector overall fell by 0.99%, with Huatai Securities, GF Securities, and Dongfang Securities being the three companies in this sector that experienced declines exceeding 4% [1]

Core Viewpoint - The report from Dongfang Securities indicates that Yuanguang Software's net profit attributable to the parent company for the first nine months is 123 million, reflecting a year-on-year increase of 11.9%. However, the net profit for Q3 2025 decreased by 10.9% to 48.06 million, while operating cash flow significantly improved to 44.39 million from a cash outflow of 123 million in the same period last year. [1] Financial Performance - For the first nine months, the net profit attributable to the parent company reached 123 million, marking an increase of 11.9% year-on-year [1] - In Q3 2025, the net profit attributable to the parent company decreased by 10.9% to 48.06 million [1] - Operating cash flow improved to 44.39 million, a significant turnaround from a cash outflow of 123 million in the previous year [1] Cost Management - There is a noticeable downward trend in the expense ratio, which is expected to enhance future profit growth [1] Business Growth Drivers - The gradual maturity of the new generation enterprise digital core system DAP and the accelerated domestic replacement of ERP in central and state-owned enterprises are likely to boost the company's digital enterprise business [1] - The implementation of large models in enterprise application scenarios is expected to accelerate the artificial intelligence business significantly [1] - With the deepening construction of new power systems, the intelligence of distribution networks and the prevalence of electricity spot trading are anticipated to grow, potentially leading to breakthroughs in related businesses in collaboration with the controlling shareholder, State Grid Digital Technology [1] Valuation - Based on comparable companies' PE levels for 2025, the reasonable valuation level for the company is estimated at a 47 times price-to-earnings ratio, corresponding to a target price of 8.46 yuan, maintaining a "buy" rating [1]

香港联交所最新数据显示，10月27日，易方达基金管理有限公司增持东方证券（600958）(03958)591.6 万股，每股作价7.9895港元，总金额约为4726.59万港元。增持后最新持股数目约为1.44亿股，持股比例 为14.03%。 ...

智通财经APP获悉，东方证券发布研报称，在当前房产领域需求整体压制下，建材需求较为低迷，国内 建材企业经营仍然面临压力。反观，在企业出海方面，以华新水泥和科达制造在前三季度均交出较为亮 眼的经营答卷。市场部分观点认为在房地产市场的影响下，建材企业无论是业绩或是预期，均难有明显 好转。但当前建材企业面临发展压力是客观事实，但是部分企业经过前瞻性的布局、有效资源整合，持 续深耕海外市场，发展可期。 建议关注相关标的华新水泥(600801.SH)、科达制造(600499.SH)。 科达制造实现归母净利润11.5亿元，同比增长63.5%。公司海外建材业务主要覆盖非洲撒哈拉以南地区 人口的建材需求，建筑陶瓷产品产量约1.0亿平方米，同比增长约17.0%，浮法玻璃产量超过17万吨，在 量价双轮驱动下，公司海外建材业务整体实现营收37.7亿元，同比增长90.1%。 深耕出海企业值得重点关注 在国内市场持续低迷的背景下，大部分建材上市企业均遭受较大经营考验，而企业发展的破局之道或许 就在出海。无论是布局"一带一路"沿线国家，还是拓展市场至欧美发达国家，中国企业近些年也在不断 进行尝试。目前看较为成功的水泥龙头—华新水泥、海外 ...

东方证券研报指出， 深信服前三季度实现归母净利-0.81亿（+86.10%），其中Q3单季度实现归母净利 1.47亿（+1097.40%），业绩改善明显，系费用端控制所致。公司整体研发战略向AI智能化倾斜，逐渐 在各个产品落地AI相关技术和能力，如安全GPT、AICP、AIPaaS、SAVE3.0、AIOps等。认为AI带来公 司产品新功能和新范式的补足，进一步提升公司产品竞争力。公司上半年率先发布了"HCI+AICP新一 代超复制选中秒转数据融合"解决方案，帮助用户在原有集群基础上仅增加一台GPU节点，就能基于本 地集群快速部署并承载DeepSeek在内的企业级大模型。凭借优秀的产品创新能力以及全渠道优势，公 司有望充分受益于日渐兴起的大模型本地化部署需求。根据可比公司25年的PS水平，维持给予公司25 年6.10倍PS，对应目标价为119.00元，维持"买入"评级。 ...

Core Insights - In the period from January to October 2025, a total of 87 new companies were listed on the A-share market, representing an 8.75% increase compared to the same period last year, which had 80 new listings [1] - The total net fundraising amount for these 87 new listings reached 833.81 billion yuan, marking a significant 77.02% increase from 471.02 billion yuan in the same period last year [1] Underwriting Institutions Performance Ranking - A total of 29 underwriting institutions participated in the IPOs of these 87 new companies, with a total of 88 deals completed [2] - The top five underwriting institutions by number of deals are: - 1st: Guotai Junan with 11 deals - 2nd: CITIC Securities with 10 deals - 3rd: Huatai United with 8 deals - 4th: CITIC Jianzhong with 7 deals - 5th: China Merchants Securities with 5 deals [2][3] Law Firms Performance Ranking - In the same period, 28 law firms provided legal services for the IPOs of the 87 new companies [6] - The top five law firms by number of deals are: - 1st: Shanghai Jintiancheng with 13 deals - 2nd: Beijing Deheng and Beijing Zhonglun, both with 7 deals - 4th: Beijing Guofeng with 6 deals - 5th: Shanghai Tongli with 5 deals [6][7] Accounting Firms Performance Ranking - A total of 16 accounting firms provided auditing services for the 87 new listings [9] - The top five accounting firms by number of deals are: - 1st: Rongcheng with 20 deals - 2nd: Tianjian with 16 deals - 3rd: Lixin and Zhonghui, both with 11 deals - 5th: Ernst & Young Hua Ming, KPMG Huazhen, and Zhongshen Zhonghuan, each with 4 deals [9][10]

格隆汇10月31日丨根据联交所最新权益披露资料显示，2025年10月27日，东方证券(03958.HK)获易方达基金管理有限公司在场内以每股均价7.9895港元增持 591.6万股，涉资约4726.59万港元。 | 股份代號: | 03958 | | --- | --- | | 上市法國名稱: | 東方證券股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 28/09/2025 - 31/10/2025 | 增持后，易方达基金管理有限公司最新持股数目为144,142,800股，持股比例由13.46%上升至14.03%。 | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 費出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | --- | | | 股份數目 | 原因 | | | 請參閱上述 * 註 | | | | | | | 份百分比 | | | | | | | (%) | | CS20251030E00292 | 易方达基金管理有限公司 | 1101(L) | 5,916, ...

每经AI快讯，东方证券（SH 600958，收盘价：11.35元）10月31日发布公告称，公司第六届第十次董事 会会议于2025年10月30日以通讯表决方式召开。会议审议了《关于调整公司年度资产负债配置计划中部 分指标的议案》等文件。 每经头条（nbdtoutiao）——多地出现"负电价"，既然卖电"不挣钱"，为何电厂不愿停机？ （记者 曾健辉） 2025年1至6月份，东方证券的营业收入构成为：机构及销售交易占比39.93%，证券经纪业务占比 32.07%，国际及其他业务占比15.73%，投行及另类投资占比12.46%，抵销占比-0.2%。 ...