Group 1 - The core viewpoint of the article highlights the personnel change at Guojin Securities, with former chief analyst Jiang Tao from GF Securities joining as the deputy director and chief analyst for public utilities and environmental coal industries [2] - Jiang Tao has a background in financial engineering with bachelor's and master's degrees from Wuhan University and has been involved in environmental industry research since 2018 and public utilities research since 2022 [2][4] - Jiang Tao aims to simplify complex research conclusions and transform dull data into engaging research, focusing on leading the research on dividend assets at Guojin Securities [4] Group 2 - The article notes that Jiang Tao's joining coincides with the deepening of the Guojin Securities Research Institute's 3.0 reform, which has seen a significant increase in research personnel to nearly 180, forming over 30 teams covering various sectors [4] - The director of the research institute, Su Chen, emphasizes the importance of collaborative, digital, and forward-looking research, aiming to enhance the influence and pricing power of core research teams [4] - The article suggests that the landscape of sell-side research institutions will continue to evolve, with increasing demands for research depth, industry chain linkage, and forward-looking insights [4]

Group 1 - The core point of the article is the recruitment of Jiang Tao, former chief analyst at GF Securities, to Guojin Securities as the deputy director and chief analyst for the public utility and environmental coal sectors [1][2]. - Jiang Tao holds a bachelor's and master's degree in financial engineering from Wuhan University and has been involved in environmental industry research since 2018 and public utility research since 2022 [1][2]. - After joining Guojin Securities, Jiang Tao will lead the research on dividend assets and aims to explore the prosperity of these assets amid the influx of long-term and patient capital into the market [2]. Group 2 - Guojin Securities Research Institute is undergoing a 3.0 reform phase, which has led to a significant increase in research personnel, now totaling nearly 180, and the formation of over 30 teams covering various sectors and interdisciplinary research [2][3]. - The director of Guojin Research Institute, Su Chen, emphasized the importance of collaborative, digital, and forward-looking research to enhance the influence and pricing power of research teams [3]. - The future landscape of sell-side research institutions is expected to evolve, with increasing demands for research depth, structure, industry chain collaboration, and foresight [3].

证券日报网讯 1月8日，国金证券（600109）在互动平台回答投资者提问时表示，股价短期易受宏观市 场等多重因素影响，长期来看也是多种因素综合作用的结果，既包括公司的内在价值，也受到宏观经 济、行业趋势和市场环境等的影响，请注意投资风险。 ...

证券日报网讯1月8日，国金证券在互动平台回答投资者提问时表示，公司资产的公允价值变动情况将在 年度报告中披露。 ...

证券日报网讯 1月8日，国金证券在互动平台回答投资者提问时表示，公司会及时改进对投资者提问的 回复，更好的回复大家的关注。如果回复过程中存在延迟，可能是由于相关问题需要进一步核实和整 理，以确保回复内容的质量和准确性。 （文章来源：证券日报） ...

证券日报网讯 1月8日，国金证券在互动平台回答投资者提问时表示，2025年前三季度，公司实现营业 收入61.52亿元，同比增加43.36%；归属于上市公司股东的净利润17.00亿元，同比增加90.27%。截至 2025年9月30日，公司总资产1460.69亿元，较上年末增加21.61%；归属于母公司股东的权益349.24亿 元，较上年末增加3.53%。公司充分重视市值管理工作，未来将按照《2025年度"提质增效重回报"行动 方案》的精神，坚定推进公司经营发展战略，提升经营能力，并利用新渠道、新内容传播好公司的成长 性价值，着力提升资本市场的认可，引导投资者对公司进行中长期投资。 （编辑 任世碧） ...

证券日报网讯 1月8日，国金证券在互动平台回答投资者提问时表示，公司分别于2025年8月28日、2025 年10月16日召开第十三届董事会第二次会议、二〇二五年第一次临时股东会，审议并通过了《关于变更 部分回购股份用途并注销的议案》，同意公司将2025年上半年回购的719.46万股股份的用途由"为维护 公司价值及股东权益"变更为"用于注销并减少公司注册资本"。2025年12月份，公司提交了股份注销申 请，公司总股本已由3712559510股变更为3705364910股。 （编辑 姚尧） ...

Core Insights - The total number of employees in the securities industry is projected to decrease to 328,900 by the end of 2025, a reduction of nearly 7,800 from the end of 2024, marking a shift in talent dynamics within the industry [1][2] - The number of investment bankers, specifically sponsors, is expected to decline for the first time in eight years, contrasting with the growth of investment advisors and analysts [1][3] Industry Overview - The total number of employees in the securities industry has fluctuated between 320,000 and 360,000 since 2017, peaking at 354,500 in 2022 [1] - By the end of 2025, five major brokerages will employ over 10,000 people each, accounting for nearly 20% of the total workforce in the industry [2] - Some large and medium-sized brokerages are experiencing workforce reductions due to mergers, restructuring, and the establishment of subsidiaries [2] Talent Dynamics - Internet-based brokerages such as Dongfang Caifu, Guojin Securities, and Maikao Securities are actively hiring, with Dongfang Caifu increasing its workforce by 630 to reach 3,334 employees [2] - The number of investment bankers has decreased to 8,519 by the end of 2025, down 293 from the previous year, marking the first annual decline in eight years [3] - The decline in investment bankers is attributed to a slowdown in equity financing and stricter regulatory environments [3][4] Growth in Advisory Roles - The number of investment advisors has reached a record high of 86,100 by the end of 2025, an increase of 5,782 from 2024, reflecting a shift towards high-quality talent strategies [5][6] - The number of securities brokers has significantly decreased from 90,400 in 2017 to 22,900 in 2025, indicating a transition away from traditional brokerage roles [5] Analyst Trends - The number of analysts has surpassed 6,056 by the end of 2025, marking a growth of 338 from the previous year, with a notable increase since 2022 [6][7] - High-profile analysts are increasingly changing firms, indicating a competitive environment for talent acquisition among brokerages [7] - The demand for research and analysis is supported by the expansion of listed companies and the growth of institutional investors, despite challenges in commission income [7]

（编辑 任世碧） 证券日报网讯 1月8日，国金证券在互动平台回答投资者提问时表示，公司在积极把握境内资本市场机 遇的同时，已将港股作为投行全球化战略与提升跨境服务能力的核心组成部分进行布局。关于港股市场 布局及战略，主要包括：1、积极展业：2025年国金证券（香港）已成功保荐2单港股IPO上市，目前在 审港股IPO项目4单，储备港股IPO项目约十单；2、战略聚焦：未来，公司将致力于打造"A+H"及跨境 上市服务优势，并计划聚焦于TMT（科技、媒体、通信）、医疗健康、先进制造、新能源等具有高增 长潜力且符合香港市场定位的行业；3、强化跨境发行能力：公司将持续加强面向国际机构投资者和亚 洲高净值客户的销售网络建设，以确保发行成功并为客户争取最优定价。关于境内板块布局与优势保 持，主要包括：1、投行在主板、创业板、科创板、北交所等各板块全面发展；2、深耕"新质生产力"与 中小企业；3、构建差异化服务能力，在强化合规风控体系的同时，不断创新业务模式。 ...

Core Viewpoint - Company emphasizes the importance of market value management and aims to enhance investor returns through a combination of cash dividends and share buybacks starting from 2025 [1] Group 1: Investor Return Strategy - Company has revised its shareholder return plan for the next three years (2024-2026) to establish stable and sustainable investor expectations [1] - In August 2025, the company will release the "2025 Quality Improvement and Efficiency Enhancement Return Action Plan" to support its operational development strategy [1] Group 2: Operational Development - Company is committed to improving operational capabilities and utilizing new channels and content to communicate its growth value [1] - The focus is on enhancing recognition in the capital market and guiding investors towards long-term investments in the company [1] Group 3: Market Influence - Company acknowledges that its stock price is susceptible to various macroeconomic factors in the short term [1]