华泰证券研报称，交运三条投资主线：航空、油运、α个股。展望2026年，我们推荐三条主线：1）航 空：供给进一步放缓+需求边际改善，有望从25年的客座率提升，切换到26年的票价提升，叠加油/汇走 势利好，盈利具备高弹性。2）油运：受益于OPEC+增产、长航距国家原油出口量增加与地缘扰动，油 运运价中枢有望显著抬升。3）α个股：估值具备吸引力的行业龙头、细分赛道空间广阔的个股、受益 于配置盘增加的高股息个股。 ...

Core Viewpoint - The report from Huatai Securities indicates an expectation of increased new RMB loans and social financing in November compared to the same period last year, despite weak demand for real economy financing [1] Group 1: New RMB Loans - It is anticipated that new RMB loans will reach approximately 600 billion yuan in November, showing a year-on-year increase compared to the same month last year [1] - The year-on-year growth rate of new RMB loans is expected to remain steady at 6.5%, consistent with October's figures [1] Group 2: Social Financing - New social financing is projected to be around 2.33 trillion yuan in November, also reflecting a year-on-year increase [1] - The stock of social financing is expected to maintain a year-on-year growth rate of 8.5%, unchanged from October [1] Group 3: M2 Growth - M2 is expected to rise to a year-on-year growth rate of 8.4%, up from 8.2% in October [1] Group 4: Government Bond Issuance - The pace of government bond issuance is expected to moderately decline, with an estimated issuance scale of about 1.1 trillion yuan, which is a decrease of 208.9 billion yuan year-on-year [1] Group 5: Policy and Economic Impact - Despite a continued accommodative policy stance, the demand for real economy financing remains weak [1] - As of the end of October, 500 billion yuan of policy financial tools have been fully deployed, with the impact on infrastructure and key projects expected to gradually manifest in the fourth quarter and early next year, providing ongoing support for credit and social financing [1]

截至2025年12月2日收盘，华泰证券（601688）报收于21.21元，较前一交易日下跌0.89%，最新总市值 为1914.6亿元。该股当日开盘21.36元，最高21.36元，最低21.03元，成交额达10.25亿元，换手率为 0.66%。 近日，华泰证券股份有限公司发布公告称，其间接全资子公司华泰国际财务有限公司在境外中期票据计 划下发行2580万美元中期票据，由全资子公司华泰国际金融控股有限公司提供担保。本次担保金额折合 人民币1.83亿元，实际担保余额为12.81亿美元。被担保人华泰国际财务为特殊目的公司，公司通过华泰 国际间接持有其100%股权。本次担保已履行董事会及股东大会决策程序，属于前期预计额度内的担保 事项，无反担保。截至公告日，公司及控股子公司对外担保总额为人民币430.54亿元，占最近一期经审 计净资产的22.46%，无逾期担保。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 最新公告列表 《华泰证券股份有限公司关于间接全资子公司根据中期票据计划进行发行并由全资子公司提供担 保的公告》 ...

免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 （记者 曾健辉） 每经AI快讯，华泰证券12月2日晚间发布公告称，截至公告披露日，公司及控股子公司担保总额为人民 币430.54亿元，全部为对子公司提供的担保，公司对控股子公司提供的担保总额为人民币339.09亿元， 相关数额分别占公司最近一期经审计净资产的比例为22.46%及17.69%。 每经头条（nbdtoutiao）——股民发帖求主力拉涨停，次日竟成真！襄阳轴承涨停迷局背后：平台审核 漏洞与市场操纵疑云发酵 ...

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， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） （股份代號：6886） 海外監管公告 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司關於間接全 資子公司根據中期票據計劃進行發行並由全資子公司提供擔保的公告》，僅供參 閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股份有限公司」及英文公司名稱「Huatai Securities Co., Ltd.」註冊為註冊非香港公司，其H股於 2015年6月1日在香港聯合交易所有限公司主板上市（股 ...

证券代码：601688 证券简称：华泰证券 公告编号：临 2025-072 华泰证券股份有限公司关于间接全资子公司根据中期 票据计划进行发行并由全资子公司提供担保的公告 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。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | | | 华泰国际财务有限公司 | | --- | --- | --- | --- | --- | | | 本次担保金额 | | | 万美元 2580 | | 担保对象 | 实际为其提供的担保余额 | | | 12.81 亿美元 | | | 是否在前期预计额度内 | 是 | □否 | □不适用 | | | 本次担保是否有反担保 | □是 | 否 | □不适用 | | 对外担保逾期的累计金额（人民币亿元） | | | - | | --- | --- | --- | --- | | 截至本公告日上市公司及其控股子公司对外担保总额（人民币亿 | | 430.54 | | | 元） | | | | | 对外担保总额占上市公司最近一期经审计净资产的比例（%） ...

Core Viewpoint - Jerry Holdings is a leading global high-end equipment manufacturer and technology service provider, recently signing a sales contract for generator sets worth over $100 million with a global AI industry giant, marking a significant breakthrough in the North American high-end power market [1] Company Summary - Jerry Holdings' subsidiary, Jerry Mind Electric Energy Group, has successfully entered the North American data center sector with its modular and intelligent power generation solutions [1] - The company has received high praise from owners in drilling, natural gas equipment, and solutions sectors globally [1] Industry Summary - According to the U.S. Department of Energy's report, U.S. data centers consumed 176 TWh of electricity in 2023, accounting for 4.4% of the total electricity demand in the U.S. [1] - It is projected that electricity demand from U.S. data centers will increase to between 325-580 TWh by 2028, with a CAGR of 13%-27% from 2024 to 2028 [1] - The company's performance is expected to grow rapidly driven by three key segments: fracturing equipment, natural gas equipment, and power generation equipment [1]

Core Viewpoint - The report from Huatai Securities indicates that the increasing fragmentation of the global financial and trade systems is driving a long-term demand for diversification of foreign exchange reserves, which is expected to support rising gold prices [1] Group 1: Gold Market Insights - As of June 2025, gold is projected to account for approximately 21.4% of reserve assets [1] - If the proportion of gold in central bank reserves returns to the historical median level of 34%, global central banks may continue to increase their gold holdings until 2035 [1] - The anticipated decline in real interest rates in the U.S. by 2026, coupled with a weakening dollar, is expected to further boost gold prices [1] Group 2: Price Projections - Gold prices are expected to rise to over $4,800 per ounce by 2026 [1] - The economic recovery phase characterized by monetary easing is likely to trigger a convergence in the gold-silver ratio, with silver prices potentially outperforming gold in 2026 [1]

Group 1 - The core viewpoint of the report is that global copper supply and demand are expected to shift from surplus to shortage by 2026, leading to a potential increase in copper prices, with average prices and peaks likely to exceed $11,000 and $12,000 per ton respectively [1][2] Group 2 - On the supply side, extreme weather events, human-induced disasters, and escalating geopolitical factors are anticipated to significantly disrupt global copper production, with 2025's production forecast being revised down to a year-on-year increase of only 12,000 tons, compared to a previous estimate of 141,000 tons [1] - The report predicts that if disruptive events continue, the copper supply increment for 2026 will remain limited, despite high copper prices potentially stimulating rapid growth in recycled copper production [1] Group 3 - On the demand side, the electricity sector is identified as a key driver for copper demand growth in 2026, with projected global demand increment and growth rate of 770,000 tons and 2.97% respectively [2] - The overall expectation is that the combination of global economic recovery, rising inflation, and widespread fiscal and monetary easing will contribute to the continued increase in copper prices [2]

Group 1 - Zaozhuang Mining Group's shareholding in Zhongtai Securities has increased to 33.25% after subscribing for 35.97 million A-shares at a price of 6.02 yuan per share, totaling 2.165 billion yuan [1] - The shareholding of Zaozhuang Mining Group will not lead to a change in control or significantly impact the company's governance structure and ongoing operations [1] - The subscription shares are locked for 60 months, indicating a strategic investment intent [2] Group 2 - Hongta Securities has repurchased 13.64 million shares, using a total of 120 million yuan, which represents 0.289% of its total share capital [3] - The repurchase is expected to reduce total share capital and enhance earnings per share, providing positive support for shareholder equity [3] - The recent repurchase trend among listed companies is seen as a positive signal for market stability and investor confidence [3] Group 3 - In November, public fund institutions conducted over 4,200 research activities, with the electronics sector receiving the most attention, totaling 974 research instances [4] - The research covered 506 stocks across 30 primary industries, with 17 industries receiving attention from public fund institutions [4] - The withdrawal of public fund licenses by brokerage asset management subsidiaries reflects increasing pressure for industry transformation [4] Group 4 - Huatai Securities appointed Zhou Aili as the new general manager of its wholly-owned subsidiary Huatai Futures, indicating a deepening of professional management division [5] - The change in management is expected to enhance operational efficiency in the futures business [6] - The adjustment in the brokerage sector may provide opportunities for valuation reassessment [6]