担保对象及基本情况 | | | 本次担保金额） | | 计额度内 | 有反担保 | | --- | --- | --- | --- | --- | --- | | 被担保人名称 黑龙江岁宝热电 有限公司 | 本次担保金额 4,000.00 万元 | 实际为其提供的 担保余额（不含 67,699.00 | 万元 | 是否在前期预 是 | 本次担保是否 否 | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 100,600.00 | | 子公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 7.82 | | 特别风险提示（如有请勾选） | □担保金额（含本次）超过上市公司最近一期经审计 □对外担保总额（含本次）超过最近一期经审计净资 | | | 净资产 50% | | 产 | 100% | | | □对合并报表外单位担保金额达到或超过最近一期经 | | | 审计净资产 30%的情况下 | | | ☑本次对资产负债率超过 70%的单位提供担保 | | 其他风险提示（如有） | | 一、担保 ...

为补充净资本及营运资金，进一步优化资产负债结构，提升融资效率与灵活 性，公司全资子公司江海证券有限公司（以下简称江海证券）拟申请启动发行公 司次级债券项目。本次次级债券发行规模不超过人民币 10 亿元（含 10 亿元）、 期限不超过 5 年期（含 5 年）。 一、发行主体的基本情况 哈尔滨哈投投资股份有限公司 关于全资子公司江海证券发行次级债券的公告 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。 证券代码：600864 证券简称：哈投股份 公告编号：临 2026-005 8.股东及持股比例：哈尔滨哈投投资股份有限公司 100%持股。 二、本次次级债券的发行方案 1.发行规模：本次债券的发行规模为不超过人民币 10 亿元（含 10 亿元）， 可分期发行。 2.发行对象：符合《证券公司次级债管理规定》及相关法律法规规定的证券 公司次级债券机构投资者，且合计不超过 200 人。 1.公司名称：江海证券有限公司 2.企业性质：有限责任公司（非自然人投资或控股的法人独资） 3.注册地址：哈尔滨市香坊区赣水路 56 号 4.主要办公地点 ...

证券代码：600864 证券简称：哈投股份 公告编号：临 2026-006 哈尔滨哈投投资股份有限公司 关于全资子公司江海证券面向合格投资者公开发行 公司债券的公告 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。 为满足补充流动资金或偿还到期的债务融资工具的资金需求，公司全资子公 司江海证券有限公司（以下简称江海证券）拟公开发行不超过人民币 15 亿元（含 15 亿元）、期限不超过 5 年期（含 5 年）的公司债券（含科创债）。 一、发行主体的基本情况 1.公司名称：江海证券有限公司 2.企业性质：有限责任公司（非自然人投资或控股的法人独资） 7.主营业务：证券经纪，证券承销与保荐，证券投资咨询，证券自营，证券 资产管理，融资融券，证券投资基金代销，代销金融产品。 8.股东及持股比例：哈尔滨哈投投资股份有限公司 100%持股。 二、本次公司债券的发行方案 1.债券全称：江海证券有限公司面向合格投资者公开发行公司债券。 2.发行规模：本次债券的发行规模为不超过人民币 15 亿元（含 15 亿元）， 可分期发行。 3.发行对象：在 ...

证券代码： 600864 证券简称：哈投股份 公告编号：临 2026-004 哈尔滨哈投投资股份有限公司 第十一届董事会第十七次临时会议决议公告 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。 一、董事会会议召开情况 哈尔滨哈投投资股份有限公司第十一届董事会第十七次临时会议于 2026 年 3 月 25 日以通讯表决方式召开。会议通知于 2026 年 3 月 20 日以书面送达、电 子邮件方式发出。会议应到董事 7 名，实到 7 名。会议由公司董事长赵洪波先 生主持。本次会议召集召开程序及审议事项符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 经全体董事认真审议，会议形成如下决议： 1.审议通过了《关于公司全资子公司江海证券发行次级债券的议案》 为补充净资本及营运资金，进一步优化资产负债结构，提升融资效率与灵 活性，江海证券申请启动发行公司次级债券项目。本次次级债券发行规模不超 过人民币 10 亿元（含 10 亿元），期限不超过 5 年期（含 5 年）。具体内容详 ...

Investment Rating - The industry rating is "Recommended" [5] Core Insights - The non-bank financial sector index fell by 2.55%, underperforming the CSI 300 index by 0.36 percentage points, ranking sixth among all primary industries [2][13] - The average daily trading volume of A-shares was 22,111 million yuan, a decrease of 11.5% week-on-week but an increase of 38% year-on-year [19] - The draft of the Financial Law was released for public consultation, aiming to strengthen financial regulation and risk management, promoting high-quality financial development [3][15] Summary by Sections Market and Sector Performance - The non-bank financial sector index decreased by 2.55%, with the securities sector down by 2.79%, insurance down by 1.99%, diversified finance down by 2.99%, internet finance down by 5.01%, and financial technology down by 4.86% [2][13] - Notable gainers included *ST Panda (+21.41%) and Zhongyou Capital (+11.71%), while major losers included Bohai Leasing (-12.34%) and Dongwu Securities (-11.84%) [2][13] Regulatory Developments - The Financial Law draft, released by five departments including the Ministry of Justice and the People's Bank of China, aims to comprehensively regulate financial activities and enhance risk management [3][14] - The law is expected to strengthen market-oriented legal risk management and regulatory constraints, optimizing financial market functions and behavior norms [15] Insurance Sector Updates - The self-pricing coefficient range for new energy vehicle insurance has been adjusted from [0.6, 1.4] to [0.55, 1.45], with a third adjustment expected in the second half of 2026 [7][16] - This gradual adjustment aims to minimize market impact while aligning pricing with risk levels, reducing the burden on low-risk customers [16]

证券代码：600864 证券简称：哈投股份 公告编号：2026-003 哈尔滨哈投投资股份有限公司 关于为控股子公司提供担保的进展公告 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 | | 黑龙江岁宝热电有限公司 | | | --- | --- | --- | --- | --- | | | 本次担保金额 | 13,000.00 | 万元 | | | 担保对象一 | 实际为其提供的担保余额 | 67,699.00 | 万元 | | | | 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：_________ | 累计担保情况 对外担保逾期的累计金额（万元） 0 截至本公告日上市公司及其控股子 公司对外担保总额（万元） 100,600.00 对外担保总额占上市公司最近一期 经审计净资产的比例（%） 7.82 特别风险提示（如有请勾选） □对外担保总额超过最近一期经审计净资产 1 ...

Core Viewpoint - The valuation analysis indicates that the stock price of Harbin Investment Co., Ltd. (600864) is considered high, leading to a recent decline in stock price, with institutional ratings being neutral [1][2]. Recent Events - As of February 9, 2026, the relative valuation range for Harbin Investment is identified as 5.59-6.18 yuan, with an accuracy rating of C. The analysis suggests that the company's competitive moat within the industry is average, and its profitability is weak, indicating poor future revenue growth potential [2]. Stock Performance - Over the past 7 days (up to February 13, 2026), Harbin Investment's stock price has shown a downward trend, closing at 6.41 yuan on February 13, with a single-day decline of 1.54% and a cumulative decline of 2.58% over the last 5 days. On February 13, there was a net outflow of 17.83 million yuan from institutional investors, while retail investors saw a net inflow of 17.83 million yuan, indicating overall market performance weaker than the broader market. Technical indicators show a 20-day resistance level at 6.84 yuan and a support level at 6.37 yuan, with the MACD indicator showing weakness, suggesting a short-term consolidation phase [3]. Institutional Perspectives - As of February 14, 2026, the market attention towards Harbin Investment is considered average, with sentiment being neutral. Institutional ratings are predominantly neutral, with low research frequency. Profit forecasts indicate a projected net profit of 466 million yuan for 2025 (a year-on-year increase of 36.06%) and a projected net profit of 494 million yuan for 2026 (a year-on-year increase of 6.01%), although growth momentum appears to be slowing [4].

Group 1 - A-shares brokerage stocks have shown strong performance, with Huayin Securities rising over 7% and Dongwu Securities increasing over 3% [1] - Other notable gainers include Huaxin Securities, Guotai Haitong, and Southwest Securities, each rising over 2% [1] Group 2 - Huayin Securities has a market capitalization of 51.7 billion and a year-to-date increase of 24.85% [2] - Dongwu Securities has a market capitalization of 47.3 billion and a year-to-date increase of 4.97% [2] - Huaxin Securities has a market capitalization of 18.1 billion and a year-to-date increase of 12.01% [2] - Guotai Haitong has a market capitalization of 352.4 billion but a year-to-date decrease of 2.73% [2] - Southwest Securities has a market capitalization of 30.4 billion and a year-to-date increase of 2.23% [2]

Core Viewpoint - The company emphasizes that stock price fluctuations in the secondary market are influenced by multiple complex factors, including macroeconomic conditions, industry policies, market sentiment, company fundamentals, and investor preferences [1] Financial Reporting - The company will disclose specific financial data for the year 2025 in its annual report, urging investors to pay attention to future official announcements [1] - The company adheres strictly to the "Enterprise Accounting Standards" and regulatory requirements in accounting for asset impairments, ensuring a true and fair reflection of asset values and operating results at specific points in time [1] Business Operations - The management is actively promoting the business transformation and capability building of Jianghai Securities, achieving certain results despite a complex market environment [1] - Various measures are being implemented to enhance cost reduction and efficiency in the thermal power business [1] Governance and Compliance - The company prioritizes compliance and risk control, continuously improving its internal control system and strictly cooperating with regulatory requirements [1] - The governance structure is well-established, with the board of directors and management fulfilling their responsibilities in accordance with the law to protect the legitimate rights and interests of all shareholders [1]

Group 1 - The company, 哈投股份, announced on January 19 that it has made a cumulative asset impairment provision of approximately 144 million yuan for the year 2025, which will reduce the net profit attributable to the parent company's shareholders by about 105 million yuan for the same year [1] Group 2 - The short drama industry has experienced a significant boom, creating jobs for 690,000 people, indicating a growing sector within the entertainment industry [1] - Actors who previously worked as delivery personnel have found employment in this booming sector, with reported income being decent but the work being quite exhausting [1] - The production teams are reportedly keeping emergency medical supplies on hand, highlighting the demanding nature of the work, especially for scenes requiring actors to sleep [1]