Group 1 - The company has signed a sales agreement with GF Securities to start selling certain funds from August 4, 2025 [1] - The announcement includes details about the applicable funds and their business opening status, indicating that the ability to conduct regular investment and conversion business depends on the sales institution's arrangements [1][2] - Investors can inquire about details through the customer service of both the company and GF Securities [4][5] Group 2 - The company has announced that GF Securities will serve as a sales agent for certain funds, with specific operational details provided [2][3] - The company has also added Southwest Securities as a primary trading dealer for some of its funds, effective from August 4, 2025 [7][8] - The announcement includes the contact information for Southwest Securities, emphasizing the importance of investor inquiries for further details [8]

Group 1 - The core viewpoint of the report is that Dongpeng Beverage (605499.SH) is rated as a "buy" due to its solid foundation in energy drinks and rapid growth in electrolyte water [2] - The company is making steady progress in its national expansion and is continuously strengthening its platform-based foundation [2] - Cost advantages and economies of scale are resonating, leading to increased expenditure on marketing and promotions [2]

（文章来源：每日经济新闻） 西南证券7月31日发布研报称，给予国邦医药（605507.SH，最新价：23.25元）买入评级。评级理由主 要包括：1）点评：医药与动保双轮驱动，市场需求稳定增长；2）双轮驱动，医药与动保业务协同发 展；3）全球化布局与高附加值产品战略推动市场竞争力提升；4）持续加大研发投入，技术创新驱动未 来发展。风险提示：项目建设或不及预期；产品销售情况或不及预期；养殖业突发疫情的风险等。 ...

（文章来源：每日经济新闻） 西南证券7月31日发布研报称，给予海思科（002653.SZ，最新价：55.79元）买入评级。评级理由主要 包括：1）HSK21542注射液"骨科镇痛"适应症开启III期临床试验；2）中国骨科镇痛市场需求刚性；3） 该药已启动4项III期临床。风险提示：市场竞争风险、药品价格下行风险、新药研发风险。 ...

Group 1 - The core viewpoint of the report highlights the impressive year-on-year growth in revenue and profit for WuXi AppTec in Q2 [2] - The revenue growth of small molecule drug development (DM) exceeded expectations, while TIDES continued to show strong growth [2] - The laboratory business remained stable, although competition in the clinical CRO market continues to be a factor that needs to be addressed [2]

今日爱柯迪（600933）涨5.52%，收盘报17.0元。 2025年5月2日，西南证券研究员郑连声,张雪晴发布了对爱柯迪的研报《Q1业绩稳健增长，机器人业务 进一步拓展》，该研报对爱柯迪给出"买入"评级。研报中预计公司2025-2027年EPS为1.17/1.36/1.50元， 三年归母净利润年复合增速达16.4%。公司产品结构优化，全球化布局加速，新建产能释放，业绩具备 向上空间，维持"买入"评级。证券之星数据中心根据近三年发布的研报数据计算，该研报作者对此股的 盈利预测准确度为80.25%。 此外，民生证券研究员崔琰,姜煦洲，东吴证券研究员黄细里,郭雨蒙近期也对该股发布了研报，同样给 出"买入"评级。 证券之星数据中心计算显示，对该股盈利预测较准的分析师团队为中信建投证券的杨耀先。 爱柯迪（600933）个股概况： | 财务摘要 | 爱柯迪2025年一季报显示，公司主营收入16.66亿元，同比上升1.41%；归母 净利润2.57亿元，同比上升10.94%；扣非净利润2.36亿元，同比上升6.64%； | | --- | --- | | | 负债率41.19%，投资收益1400.04万元,财务费用-569 ...

近日，新浪财经首届上市券商领军人物领导力TOP榜结果出炉，西南证券总经理杨雨松获成长发展券商第 25名。 "上市券商领军人物领导力TOP榜"由新浪财经发起，旨在表彰各大券商领军人物的卓越贡献与深远影响 力。该榜单盘点最近一个完整年度的券商领袖管理成就，以行业数据、同业评价、网络声量多维度综合评 价体系为基础，以创造经济与社会价值为核心标准，表彰杰出领袖，助力金融行业持续健康发展。 个人简介 杨雨松 注释:基础数据来源于财务报告,排名数据统计以上市券商为主（约50家左右）, 数据网状图为本公司各业务数据横向比较。 | 机构同业评价(权重40%) | | | | --- | --- | --- | | 前瞻力 控制力 创新力 | 合规性 | 影响力 | | 78.80分 79.86分 78.77分 78.62分 71.15分 | | | | 评审委员会: | | | 由券商研究所、独立财富管理机构、媒体等高级管理人员组成。 1972年6月出生，管理学硕士，高级经济师。 现任西南证券党委副书记、董事、总经理。曾任职于华夏证券有限公司、重庆港九股份有限公司、重庆渝 富资产经营管理集团有限公司（现重庆渝富资本运营集团有 ...

Core Viewpoint - The brokerage sector is experiencing a significant upward trend, driven by favorable policies and improved market conditions, with many brokerages reporting positive earnings forecasts for the first half of 2025 [3][4]. Group 1: Market Performance - On July 21, the brokerage sector saw a rapid increase, with the top brokerage ETF (512000) rising by 1.25% and achieving a trading volume of 350 million yuan within the first half hour of trading [1]. - Several brokerage stocks experienced notable gains, including Huayin Securities, which hit the daily limit, and Zhongyin Securities, which rose nearly 6% [1][3]. Group 2: Earnings Forecasts - As of July 18, 29 listed brokerages have disclosed earnings forecasts for the first half of 2025, all indicating either growth or a return to profitability [3]. Group 3: Industry Outlook - Analysts believe that the brokerage sector's favorable conditions are likely to persist, supported by ongoing policy goals aimed at stabilizing growth and the stock market, as well as a conducive liquidity environment [4]. - The introduction of new policies and the continued inflow of both retail and institutional investors are expected to enhance trading activity and improve the overall market sentiment [4]. Group 4: Investment Tools - The brokerage ETF (512000) passively tracks the CSI All Share Securities Companies Index, encompassing 49 listed brokerage stocks, with a significant portion of its holdings concentrated in leading brokerages [5].

Group 1 - The announcement regarding the "Southwest Securities Double Happiness Incremental Cash Management Collective Asset Management Plan" was made on July 18, 2025, with the distribution of earnings occurring on July 17, 2025, and becoming available from July 18, 2025 [2] - The collective plan is a transformation from the "Southwest Securities Double Happiness Incremental Collective Asset Management Plan" [2] - The plan utilizes a method of estimating daily returns for valuation, which may differ from the actual returns on the distribution date due to the way bank deposits are valued [3] Group 2 - Investors who purchase shares of the collective plan on the same day will have their rights to distribution effective from the next working day, while those redeeming shares on the same day will not have distribution rights until the next working day [3] - The plan pays out earnings monthly, and if an investor's cumulative actual undistributed earnings are positive, cash earnings will be paid; if zero, no payment will be made; if negative, the corresponding shares will be reduced [3] - Investors can access information through the company's website and customer service hotline [3]

Core Viewpoint - The report outlines the verification of the listing and circulation of restricted shares for Southwest Securities Co., Ltd. following its non-public issuance in 2019, confirming compliance with relevant regulations and the fulfillment of lock-up commitments by shareholders [1][2]. Group 1: Restricted Shares Details - The restricted shares listed for circulation include 330 million shares held by Chongqing Yufu Capital Operating Group Co., Ltd., which represents 4.97% of the total share capital [3][4]. - The listing date for these restricted shares is set for July 22, 2025 [3]. Group 2: Company Capital Structure - Following the non-public issuance, the total share capital of the company increased to 6,645,109,124 shares, all of which are ordinary shares [2]. - There have been no changes in the number of shares due to rights issues or capital increases since the formation of the restricted shares [2]. Group 3: Compliance and Commitments - The shareholders have adhered to the lock-up commitments, with no violations affecting the listing of the restricted shares [2]. - The underwriting institution, Huafu Securities, confirmed that the company’s information disclosure regarding the restricted shares is accurate and complete [2].