西南证券股份有限公司 第十届董事会第十八次会议决议公告 证券代码：600369 证券简称：西南证券 公告编号：临 2025-031 同意公司主要负责人 2025 年度经营业绩考核目标。 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。 西南证券股份有限公司（以下简称公司）第十届董事会第十八次会议于 2025 年 8 月 4 日以电子邮件方式发出会议通知和相关材料，于 2025 年 8 月 11 日发出 补充通知和相关材料，于 2025 年 8 月 14 日在公司总部大楼以现场和视频方式召 开。本次会议应出席董事 9 人，实际出席董事 9 人，姜栋林董事长、杨雨松董事 和李军董事现场出席本次会议，张敏董事、谭鹏董事、龚先念董事、黄琳独立董 事、徐秉晖独立董事和付宏恩独立董事视频出席本次会议。公司全体监事和部分 高级管理人员列席本次会议。本次会议由姜栋林董事长主持，会议的召集、召开 及表决程序符合《中华人民共和国公司法》《公司章程》等有关规定。 表决结果：[ 9 ]票同意，[ 0 ]票反对，[ 0 ]票弃权，审议通过该议案。 本议案 ...

Key Points - The core viewpoint of the report is the financial performance of Southwest Securities Co., Ltd. for the first half of 2025, highlighting significant growth in revenue and profit metrics while also noting a slight decrease in net assets [1]. Financial Performance - Total assets at the end of the reporting period reached approximately 92.10 billion RMB, an increase of 10.64% compared to the previous year [1]. - The net assets attributable to shareholders decreased slightly to approximately 25.74 billion RMB, down by 0.28% from the previous year [1]. - Operating revenue for the period was approximately 1.50 billion RMB, reflecting a growth of 26.23% year-on-year [1]. - Total profit amounted to approximately 513.66 million RMB, representing a significant increase of 65.48% compared to the same period last year [1]. - Net profit attributable to shareholders was approximately 423.17 million RMB, up by 24.36% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was not specified, but the net cash flow from operating activities was negative at approximately -1.03 billion RMB, a decrease of 133.65% [1]. - The weighted average return on equity increased to 1.63%, up by 0.30 percentage points from the previous year [1]. - Basic and diluted earnings per share were both 0.06 RMB, an increase of 20.00% compared to the previous year [1]. Shareholder Information - The total number of shareholders at the end of the reporting period was 121,465 [1]. - The top shareholder, Chongqing Yufu Capital Operation Group Co., Ltd., holds 29.51% of the shares, amounting to approximately 1.96 billion shares [3]. - Other significant shareholders include Chongqing Urban Construction Investment (Group) Co., Ltd. with 10.37% and Chongqing Jiangbei Central Business District Investment Group Co., Ltd. with 6.03% [3]. Important Events - The company plans to distribute a cash dividend of 0.1 RMB per 10 shares, totaling approximately 66.45 million RMB [1]. - There is an ongoing process for a change in the controlling shareholder, with Chongqing Yufu Capital Operation Group Co., Ltd. planning to transfer its shares to Chongqing Yufu Holding Group Co., Ltd. [3].

Core Insights - Southwest Securities reported a steady increase in operating performance for the first half of 2025, achieving operating income of 1.504 billion yuan, a year-on-year growth of 26.23%, and a net profit attributable to shareholders of 423 million yuan, up 24.36% year-on-year [5] Financial Strength - As of June 30, 2025, Southwest Securities had total assets of 92.104 billion yuan, net assets of 25.738 billion yuan, and net capital of 16.714 billion yuan, with a weighted average return on equity of 1.63% [1] Main Business Development - The brokerage business laid a solid foundation, generating operating income of 819 million yuan in the first half of the year, focusing on creating differentiated competitive advantages [1] - The company had 106 securities branches and total customer assets exceeding 550 billion yuan, with a year-on-year growth of over 95% in bond assets [1] - The self-operated business achieved operating income of 459 million yuan, maintaining a steady investment style and exploring innovative business opportunities [1] Asset Management and Investment Banking - The asset management business accelerated its reform and transformation, achieving operating income of 9.6236 million yuan, with a total management scale of 17.659 billion yuan, a growth of 28% compared to the end of last year [2] - The investment banking business generated operating income of 9.06924 million yuan, focusing on equity financing, mergers and acquisitions, and bond financing [2] Future Business Planning - For the second half of the year, the company plans to enhance its brokerage services, strengthen research services, and expand institutional cooperation [3] - The investment banking sector will leverage its advantages to promote mergers and acquisitions in the Sichuan-Chongqing region [3] - The asset management business aims to grow in scale and improve service quality, focusing on equity products and asset-backed securities [3] Profit Distribution - The company announced a semi-annual profit distribution plan, proposing a cash dividend of 0.1 yuan per 10 shares, totaling 66.4511 million yuan [3]

Group 1 - The core point of the article is that Southwest Securities announced the approval of several proposals, including the agenda for the 2025 semi-annual report, during the 18th meeting of its 10th board of directors [2] Group 2 - The announcement was made on the evening of August 14 [2] - The meeting involved the review and approval of multiple proposals [2] - The specific details of the proposals were not disclosed in the announcement [2]

Core Viewpoint - Southwest Securities announced the approval of several proposals, including the 2025 semi-annual report, during the tenth meeting of its tenth supervisory board [2] Group 1 - The company held its tenth supervisory board meeting [2] - The meeting resulted in the approval of the proposal regarding the 2025 semi-annual report [2]

Group 1 - China Telecom reported a net profit of RMB 23.017 billion for the first half of 2025, an increase of 5.5% year-on-year [1] - The company's total operating revenue for the same period was RMB 269.42 billion, reflecting a year-on-year growth of 1.3% [1][2] - The net profit attributable to shareholders after excluding non-recurring gains and losses was RMB 21.721 billion, a slight increase of 0.2% year-on-year [1][2] Group 2 - Mobile communication service revenue reached RMB 106.6 billion, up 1.3% year-on-year, while fixed-line and smart home service revenue was RMB 64.1 billion, growing by 0.2% [3] - The number of mobile users increased to 433 million, and broadband users reached 199 million, with mobile ARPU at RMB 46 and broadband ARPU at RMB 48.3 [3] - Revenue from industrial digitalization was RMB 74.9 billion, with AIDC revenue growing by 7.4% [3] Group 3 - Xi'an Yicai's IPO on the Sci-Tech Innovation Board was approved, with projected revenue growth from RMB 1.055 billion in 2022 to RMB 2.121 billion in 2024, a compound annual growth rate of 41.83% [4] - Chipsea Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and diversify financing [5] - Shunhao Co. also announced plans to issue H-shares and list on the Hong Kong Stock Exchange to support business transformation and global strategy [6] Group 4 - Heertai reported a net profit of RMB 354 million for the first half of 2025, a year-on-year increase of 78.65% [7] - Yiyuan Communication's net profit surged by 125.03% to RMB 471 million, driven by core business improvements and diversification [8] - Jifeng Co. achieved a net profit of RMB 154 million, a significant increase of 189.51%, despite a revenue decline of 4.39% [9]

证券日报网讯 8月14日晚间，西南证券发布2025年半年度报告摘要称，公司2025年半年度实现营业收入 为1，503，540，957.14元，同比增长26.23%；实现归属于上市公司股东的净利润为423，168，992.09 元，同比增长24.36%。 （编辑 任世碧） ...

新华财经北京8月14日电 8月14日晚，西南证券披露2025年半年报，这是A股上市券商的首份半年报。上 半年公司实现营业收入15.04亿元，同比增长26.23%；实现归母净利润4.23亿元，同比增长24.36%。 从收入构成看，上半年投资收益是西南证券净利润的主要来源，收入规模合计5.91亿元，同比增长近 65%；公司手续费及佣金净收入、利息净收入均保持了30%以上的同比增幅，收入规模分别为4.46亿元 和2.34亿元。 西南证券表示，证券自营业务方面，公司不断深耕优势业务，稳步开拓创新业务。在权益投资领域，公 司逐步建立了"多策略"的配置模式，取得了较为稳健的投资回报；在固收投资领域，公司通过合理控制 久期、及时调整持仓结构，成功把握市场节奏，持续获取收益。证券经纪业务方面，上半年公司聚焦打 造特色化、差异化竞争优势，不断积蓄发展动能。 在西南证券之前，A股上市券商中已有24家提前披露2025年半年度业绩预告，3家披露2025年半年度业 绩快报，上述27家券商上半年净利润均较上年同期增长或同比扭亏为盈。 编辑：胡晨曦 ...

智通财经APP讯，西南证券(600369.SH)披露2025年半年度报告，报告期公司实现营收15.04亿元，同比 增长26.23%;归属于上市公司股东的净利润4.23亿元，同比增长24.36%;扣非净利润3.98亿元，同比增长 14.21%;基本每股收益0.06元。公司拟向全体股东每10股派发现金红利0.1元(含税)。 ...

Macro Dynamics - The People's Bank of China announced a 500 billion yuan reverse repurchase operation with a term of 6 months to maintain ample liquidity in the banking system [2] Industry Insights - A total of 152 energy storage companies have responded to an initiative by the China Chemical and Physical Power Industry Association to promote fair competition and healthy development in the energy storage sector, indicating strong support for industry self-regulation [3] Company Dynamics - Longcheng Securities reported no significant changes in its operational environment despite a stock price fluctuation exceeding 20% [6] - Southwest Securities announced a 24.36% year-on-year increase in net profit for the first half of the year, with revenue reaching 1.504 billion yuan [7] - China Telecom's half-year report showed a 1.3% increase in revenue to 269.422 billion yuan and a 5.5% rise in net profit [11] - China Yangtze Power has established a five-year dividend plan, committing to distribute at least 70% of its annual net profit as cash dividends [12] - NetEase reported a second-quarter revenue of 27.9 billion yuan, with significant investments in R&D [13] - JD Group's second-quarter revenue reached 356.7 billion yuan, reflecting a year-on-year increase of 22.4% [14] - China Shipbuilding Industry has submitted an application for voluntary delisting from the A-share market due to a merger with China Heavy Industry [15]