Core Insights - Dongfang Securities reported a significant increase in revenue and net profit for the first nine months of 2025, with operating income reaching 12.71 billion and net profit attributable to shareholders at 5.11 billion, reflecting year-on-year growth of 39.4% and 54.8% respectively [1] - The company's weighted average ROE (unannualized) improved to 6.35%, up 2.19 percentage points year-on-year [1] Revenue Breakdown - For the first nine months of 2025, the main revenue sources were brokerage, investment banking, asset management, net interest, and net investment income, contributing 2.38 billion, 1.17 billion, 970 million, 780 million, and 6.48 billion respectively, with year-on-year growth rates of 49.1%, 41.1%, -4.3%, -15.1%, and 60.0% [1] - The company's securities main revenue totaled 12.63 billion, marking a year-on-year increase of 39.9% [1] Expense Analysis - In the third quarter of 2025, management expenses rose to 2.45 billion, reflecting a year-on-year increase of 27.5% and a quarter-on-quarter increase of 57.2% [1] - The management expense ratio for the third quarter was 52.4%, down 5.4 percentage points year-on-year but up 14.0 percentage points quarter-on-quarter [1] Investment Performance - As of the end of the third quarter of 2025, the company's operating leverage was 3.86x, an increase of 0.13x from the beginning of the year, while investment leverage was 2.77x, up 0.02x year-to-date [2] - The company's financial investment scale was 227.2 billion, showing a year-to-date increase of 1.5% [2] - The net investment income for the third quarter was 2.23 billion, with a year-on-year increase of 26.6% [2] Asset Management Growth - The asset management business generated revenue of 370 million in the third quarter, reflecting a year-on-year increase of 20.6% [3] - The scale of the company's fund management subsidiary, Huatai Fund, reached 655.6 billion, up 30.4% year-to-date, ranking 9th in the industry [3] Brokerage and Investment Banking - The brokerage business achieved revenue of 1.01 billion in the third quarter, a year-on-year increase of 83.2% [4] - The company’s IPO underwriting scale reached 1.71 billion, with a market share of 2.2%, while refinancing underwriting reached 11.01 billion, with a market share of 1.5% [4] Future Profit Projections - The projected net profit attributable to shareholders for 2025-2027 is expected to be 6.7 billion, 7.63 billion, and 8.14 billion respectively, indicating year-on-year growth of 100.0%, 13.9%, and 6.7% [4]

Core Insights - The 2025 Sustainable Global Leaders Conference will be held from October 16 to 18 in Shanghai, featuring over 500 prominent guests, including around 100 international attendees, such as political figures, Nobel laureates, and leaders from Fortune 500 companies [1] Group 1: Company Overview - Shenenergy Group has been a leader in energy innovation for 24 consecutive years, ranking among China's top 500 enterprises, with over 340 wholly-owned and controlled subsidiaries and approximately 31,000 employees [3] - The group includes subsidiaries such as Shenenergy Co., Shanghai Gas, Dongfang Securities, Shenenergy Insurance, and Shanghai Cable Research Institute [3] Group 2: Green Finance - Dongfang Securities aims to create an energy investment bank focusing on green finance, leveraging Shenenergy Group's long-term resources in the energy sector [3] - The firm showcases achievements in green bond issuance, ESG investment research, and carbon finance, highlighting the role of brokers in promoting low-carbon transformation [3] Group 3: Green Insurance - Shenenergy Insurance, operational since 2024, focuses on green insurance across ESG, green industry, and green living, providing comprehensive coverage for energy transition and carbon market development [5] - The insurance has underwritten over 43 billion yuan in green energy projects, serving more than 5,000 green enterprises [5] Group 4: Green Power - Shenenergy Group is actively building a green power landscape, with Shenenergy Co. being the first publicly listed company in China's power sector [5] - By the end of 2024, the group had a total installed capacity of 18.042 million kilowatts, with 6.13 million kilowatts from renewable energy, accounting for 34.1% of total capacity [5] Group 5: Clean Coal and New Energy - Shenenergy has set benchmarks in both clean coal and new energy sectors, achieving a world record in coal consumption for power generation at its Anhui Pingshan Power Plant [7] - The Hainan CZ2 offshore wind power project has successfully connected to the grid, marking a significant milestone in renewable energy [7] Group 6: Green Cables - The Shanghai Cable Research Institute is leading innovations in the cable industry, focusing on green technology advancements [9] Group 7: Green Fuels - Shenenergy is actively developing a green methanol industry chain and advancing hydrogen energy initiatives, with plans for a 100,000-ton green methanol project in Shanghai [10][12] - The group has established a comprehensive hydrogen energy strategy, focusing on production, storage, and application, including fuel cell vehicles [12][13]

Core Insights - Oriental Securities (03958) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 4.707 billion RMB, a year-on-year increase of 40.25% [1] - The net profit attributable to shareholders was 1.647 billion RMB, reflecting a year-on-year growth of 38.35% [1] - Basic earnings per share for Q3 2025 stood at 0.19 RMB [1] Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 12.708 billion RMB, which is a 39.38% increase compared to the same period last year [1] - The net profit attributable to shareholders for the first three quarters was 5.11 billion RMB, marking a substantial year-on-year increase of 54.76% [1] - Basic earnings per share for the first three quarters were reported at 0.59 RMB [1]

智通财经APP获悉，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 (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%。 ...

Core Insights - The company reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 4.707 billion RMB, a year-on-year increase of 40.25% [1] - The net profit attributable to shareholders for Q3 2025 was 1.647 billion RMB, reflecting a year-on-year growth of 38.35% [1] - Basic earnings per share for Q3 2025 stood at 0.19 RMB [1] Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 12.708 billion RMB, which is a 39.38% increase compared to the same period last year [1] - The net profit attributable to shareholders for the first three quarters was 5.11 billion RMB, marking a substantial year-on-year increase of 54.76% [1] - Basic earnings per share for the first three quarters were reported at 0.59 RMB [1]

Core Insights - The company reported a revenue of approximately RMB 4.707 billion for Q3 2025, representing a year-on-year increase of 40.25% [1] - The net profit for Q3 2025 was approximately RMB 1.647 billion, showing a year-on-year growth of 38.25% [1] - Basic earnings per share (EPS) stood at RMB 0.19 [1] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of approximately RMB 12.708 billion, which is a year-on-year increase of 39.38% [1] - The net profit for the first three quarters was approximately RMB 5.11 billion, reflecting a year-on-year increase of 54.76% [1]

香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司 對本公告的內容概不負責，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分內容而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。 （ 於 中 華 人 民 共 和 國 註 冊 成 立 之 股 份 有 限 公 司 ，中 文 公 司 名 稱 為 「東 方 証 券 股 份 有 限 公 司 」， 在 香 港 以「 東 方 證 券」（中 文 ）及「DFZQ」（ 英 文 ） 開 展 業 務 ） （股份代號：03958） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B條規則作出。 茲載列公司在上海證券交易所網站刊登之《東方證券股份有限公司第六屆董事會第 十次會議決議公告》，僅供參閱。 承董事會命 董事長 龔德雄 中國•上海 2025年 10月 30日 於本公告日期，董事會成員包括執行董事龔德雄先生、魯偉銘先生和盧大印先生； 非執行董事劉煒先生、楊波先生、石磊先生、李芸女士、徐永淼先生、任志祥先生 及孫維東先生；以及獨立非執行董事吳弘先生、馮興東先生、羅新宇先生、陳漢先 生和朱凱先生。 本公司董 ...

| 项目 | 本报告期 | 上年同期 | | 本报告期 比上年同 期增减变 | 年初至报告期末 | 上年同期 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 动幅度(%) | | | | | | 调整前 | 调整后 | 调整后 | | 调整前 | | 营业收入 | 4.707.210.451.20 | 5.507.910.775.61 | 3,356,217,577.61 | 40.25 | 12,708,369,810.92 | 14.079.383.741.15 9,117 | | 利润息额 | 2.189.976.373.46 | 1.446.027.308.18 | 1,446,027,308.18 | રી 4ર | 6.483.606.053.17 | 3,717,102,655.26 3,717 | | 归属于上市公司股东的净 利润 | 1,647,276,650.82 | 1,190,678,192.78 | 1.190.678.192.78 | 38.35 | 5,110,347,361.75 | 3,302,049,264.3 ...

Financial Performance - For the third quarter of 2025, the company's operating revenue was CNY 4,707,210,451.20, a decrease of 40.25% compared to the same period last year[9] - The total profit for the quarter reached CNY 2,189,976,373.46, representing an increase of 51.45% year-over-year[9] - Net profit attributable to shareholders was CNY 1,647,276,650.82, up 38.35% from the previous year[9] - The basic earnings per share for the quarter was CNY 0.19, reflecting a 46.15% increase compared to the same period last year[9] - The net profit margin for the year-to-date period increased to 39.38% compared to the previous year[9] - Total operating revenue for the first three quarters of 2025 reached ¥12,708,369,810.92, a significant increase of 39.1% compared to ¥9,117,648,632.32 in the same period of 2024[34] - Net profit for the first three quarters of 2025 was ¥5,110,096,476.73, representing a 54.7% increase from ¥3,302,385,918.07 in the same period of 2024[36] - The company reported a total profit of ¥6,483,606,053.17, up 74.8% from ¥3,717,102,655.26 in the previous year[36] - The company reported a total profit of ¥5,057,308,499.09, an increase from ¥4,071,048,399.83 in the same period of 2024[52] Assets and Liabilities - As of September 30, 2025, total assets amounted to CNY 453,940,008,289.95, an increase of 8.67% from the end of the previous year[9] - Total assets as of September 30, 2025, amounted to ¥336.19 billion, up from ¥322.70 billion at the end of 2024, reflecting a growth of approximately 4.2%[46] - Total liabilities as of September 30, 2025, were RMB 372.01 billion, compared to RMB 336.34 billion at the end of 2024, marking an increase of around 10.59%[31] - The total liabilities as of September 30, 2025, were ¥260.96 billion, an increase from ¥246.85 billion at the end of 2024, indicating a rise of approximately 5.7%[48] - The company's total equity reached RMB 81.93 billion, slightly up from RMB 81.40 billion, indicating a growth of about 0.65%[32] - The company's total equity as of September 30, 2025, was ¥75.23 billion, slightly down from ¥75.85 billion at the end of 2024, showing a decrease of about 0.8%[48] Cash Flow - Cash flow from operating activities was 1,795,310,107.31, a significant improvement from -7,127,656,843.14 in the previous period[20] - Cash flow from operating activities generated a net cash inflow of ¥1,795,310,107.31, a significant recovery from a net outflow of ¥7,127,656,843.14 in 2024[40] - Cash flow from investment activities for the first three quarters of 2025 reached ¥28.17 billion, a significant increase from ¥15.27 billion in the same period of 2024, marking an increase of approximately 84.5%[42] - The net increase in cash and cash equivalents for the first three quarters of 2025 was ¥20.47 billion, contrasting with a decrease of ¥4.46 billion in the same period of 2024[44] - The ending balance of cash and cash equivalents as of September 30, 2025, was 62,749,422,278.24 RMB, up from 51,843,109,134.03 RMB in 2024, indicating an increase of about 21%[58] Shareholder Information - The number of common shareholders at the end of the reporting period was 183,844[21] - The largest shareholder, Sheneng (Group) Co., Ltd., holds 26.63% of the shares, totaling 2,262,428,700 shares[22] Investment and Income - Investment income increased by 43.01% to 5,831,352,862.52, driven by higher returns from financial instrument investments[20] - Net commission and fee income rose to ¥4,832,418,246.90, up 28.8% from ¥3,750,748,995.10 in the previous year[34] - Net commission and fee income surged to ¥2,864,881,854.87, up 67.0% from ¥1,715,781,507.47 year-over-year[50] Adjustments and Changes - The company has made adjustments to its revenue recognition policies in accordance with new accounting standards issued in July 2025[10] - The company adjusted its financial statements for 2024, with contract liabilities reduced by 112,332,096.75 RMB, resulting in an adjusted amount of 44,877,175.53 RMB[60] - Other business income for the first three quarters of 2024 was adjusted to 4,871,487,410.49 RMB, reflecting a decrease of 74,802,478.65 RMB[60] - Investment income for the first three quarters of 2024 was adjusted to 4,077,489,041.30 RMB, down by 90,247,698.34 RMB[60] Risk and Coverage Ratios - The risk coverage ratio improved to 397.11% from 373.48% year-over-year[12] - The liquidity coverage ratio was reported at 203.83%, slightly up from 202.82% at the end of the previous year[12]

证券代码：600958 证券简称：东方证券 公告编号：2025-049 二、审议通过《关于调整公司年度资产负债配置计划中部分指标 的议案》 表决结果：15 票同意，0 票反对，0 票弃权。 东方证券股份有限公司 第六届董事会第十次会议决议公告 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。 东方证券股份有限公司（以下简称"公司"）第六届董事会第十 次会议于 2025 年 10 月 30 日以通讯表决方式召开。本次会议通知于 2025 年 10 月 16 日以电子邮件和专人送达方式发出，2025 年 10 月 30 日完成通讯表决形成会议决议。本次会议应表决董事 15 人，实际 表决董事 15 人。本次会议的召集召开符合《公司法》《公司章程》 等有关规定。本次会议审议并通过了以下议案： 一、审议通过《公司 2025 年第三季度报告》 表决结果：15 票同意，0 票反对，0 票弃权。 本议案的具体内容详见公司同日披露的《公司 2025 年第三季度 报告》。 本议案已经公司董事会审计委员会成员审议通过。 本议案已经公司董事会合规与风 ...