8月26日，财达证券跌1.26%，成交额3.63亿元。两融数据显示，当日财达证券获融资买入额6521.65万 元，融资偿还6547.40万元，融资净买入-25.75万元。截至8月26日，财达证券融资融券余额合计7.76亿 元。 截至3月31日，财达证券股东户数8.38万，较上期减少4.78%；人均流通股25347股，较上期增加5.02%。 2025年1月-3月，财达证券实现营业收入0.00元；归母净利润1.18亿元，同比增长6.34%。 分红方面，财达证券A股上市后累计派现13.95亿元。近三年，累计派现8.11亿元。 机构持仓方面，截止2025年3月31日，财达证券十大流通股东中，国泰中证全指证券公司ETF （512880）位居第十大流通股东，持股2212.49万股，相比上期增加319.46万股。 责任编辑：小浪快报 融资方面，财达证券当日融资买入6521.65万元。当前融资余额7.72亿元，占流通市值的4.64%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，财达证券8月26日融券偿还3400.00股，融券卖出5500.00股，按当日收盘价计算，卖出金额 4.31万元；融券余量45.36万股， ...

登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 证券代码：600906 证券简称：财达证券 公告编号：2025-026 财达证券股份有限公司 关于召开2025年半年度业绩说明会的公告 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： （https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络互动 ● 问题征集方式：投资者可于2025年8月27日（星期三）至9月2日（星期二）16:00前登录上证路演中心 网站首页点击"提问预征集"栏目，选中本次活动进行提问，或通过财达证券股份有限公司（以下简 称"公司"）投资者关系邮箱cdzqdbs@cdzq.com向公司提问。公司将在2025年半年度业绩说明会上对投资 者普遍关注的问题进行重点回答。 公司将于2025年8月29日在上海证券交易所网站http://www.sse.com.cn披露《财达证券股份有限公司2025 年半年度报告》。为便于广大投资者更全面深入 ...

证券代码：600906 证券简称：财达证券 公告编号：2025-026 财达证券股份有限公司 本次业绩说明会以网络互动形式召开，公司将针对 2025 年半年度经营成果 及财务状况的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 关于召开 2025 年半年度业绩说明会的公告 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： （https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 问题征集方式：投资者可于 2025 年 8 月 27 日（星期三）至 9 月 2 日（星 期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目，选中本次 活动进行提问，或通过财达证券股份有限公司（以下简称"公司"）投资者关系 邮箱 cdzqdbs@cdzq.com 向公司提问。公司将在 2025 年半年度业绩说明会上对投 资者普遍关注的问题进行重点回答。 公司将于 2025 年 8 月 29 日在上海证券交易所网站 http://www. ...

8月25日，一场聚焦医药产业创新与资本协同的高端对接会在华北制药（600812）举行。财达证券 （600906）党委书记、董事长张明携中国工程院院士团队与华北制药党委书记、董事长王立鑫等企业高 管围绕纳米新技术创新药合作、进一步推动医药产业创新与资本协同发展进行深入交流。 "我们致力于打造产业最友好的投资银行。"张明向记者阐述了财达证券的服务理念。 据介绍，该券商已为华北制药构建起包含市值管理、科创融资、股权协同、资本培育、市场开拓等五大 板块的"五位一体"服务体系。这种全链条、差异化、精准化的服务模式，正在河北省属企业中形成示范 效应。 在技术对接环节，医药院士团队带来的纳米新技术创新药方案引发关注。该技术实现了原材料进口替代 和工艺流程简化两大突破，与华北制药的转型升级需求高度契合。财达证券充分发挥桥梁作用，推动技 术入股、合作研发等多元合作模式落地。 张明表示，未来财达证券将进一步发挥投资银行功能，围绕"五大举措"全方位精准对接华北制药科技创 新、重大项目融资和市场开拓等方面金融需求，携手打造更加紧密的省属企业战略合作典范。一是持续 协助市值管理，充分发挥资本市场的价值发现和价值投资功能。二是充分把握资 ...

Group 1: Market Performance - The A-share market has shown significant growth, with the Shanghai Composite Index rising from around 3200 points at the beginning of the year to over 3700 points, marking a notable increase in investor sentiment and market attractiveness [1] - As of early August, the A-share financing balance exceeded 2 trillion yuan, reaching a 10-year high, with an increase of approximately 150 billion yuan this year [2][3] Group 2: Investor Engagement - The number of new A-share accounts opened in July 2025 reached 1.9636 million, a year-on-year increase of 70.54%, contributing to a total of 14.5613 million new accounts in the first seven months of 2025, up 36.88% year-on-year [2] - Monthly active users of securities apps reached 167 million in July 2025, reflecting a 3.36% increase from the previous month [2] Group 3: Corporate Actions - Nearly 70% of listed companies in Shanghai and Shenzhen have announced cash dividend plans for the year, totaling approximately 1.64 trillion yuan, indicating a trend towards quality improvement and shareholder returns [5] - BYD announced a record cash dividend of 39.74 yuan per 10 shares, totaling around 12.077 billion yuan, marking the largest dividend since its A-share listing in 2011 [4] Group 4: Mergers and Acquisitions - Since the implementation of policies like "Merger Six Articles," over 200 major asset restructurings have been disclosed in the A-share market, indicating increased activity and scale in the M&A sector [6] - The China Securities Regulatory Commission emphasizes the need to optimize mechanisms for mergers and acquisitions to better support technological and industrial innovation [6] Group 5: Brokerage Activity - Brokerages are experiencing increased activity due to the surge in investor accounts and trading volume, with customer service departments reporting a significant rise in inquiries [7] - Securities firms are enhancing their systems to manage the increased trading volume and are focusing on providing services to technology companies, particularly in response to policies supporting the Sci-Tech Innovation Board [8]

证券代码：600906 证券简称：财达证券 公告编号：2025-025 财达证券股份有限公司 第四届董事会第九次会议决议公告 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 财达证券股份有限公司（以下简称"公司"）第四届董事会第九次会议（以下 简称"本次会议"）于 2025 年 8 月 20 日以通讯方式召开。本次会议通知和材料于 2025 年 8 月 15 日以电子邮件方式发出。本次会议应参加表决的董事 11 名，实际参 加表决的董事 11 名。本次会议的召开和表决情况符合《公司法》、《财达证券股份 有限公司章程》等有关规定。 二、董事会会议审议情况 （一）《关于提请董事会授权经理层决定财达稳达系列参公大集合产品存续期 届满后相关事宜的议案》 表决结果：11 票同意，0 票反对，0 票弃权，本议案获得通过。 同意授权公司经理层根据有关法律法规、监管规定，在授权范围内决定财达稳 达系列参公大集合产品存续期届满及后续相关工作，本授权自董事会审议通过之日起 至授权事项办理完毕之日止。 本议案已经董事会审计委 ...

Group 1 - The core point of the article is that Caida Securities Co., Ltd. has updated the status of its 6 billion yuan small public offering bond project to "accepted" as of August 20, 2025 [1] - The total amount of the bond issuance is not to exceed 6 billion yuan [1] - Out of the raised funds, 5 billion yuan will be used for repaying interest-bearing debts and supplementing working capital, while 1 billion yuan will support technology innovation [1] Group 2 - At least 700 million yuan (including 700 million yuan) of the funds allocated for technology innovation will be specifically used through equity, bonds, and fund investments [1] - The remaining funds will also be used to supplement working capital [1]

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Views - The brokerage sector has outperformed the market, with the PB valuation recovering to near the median level of the past decade [3][10] - The average daily trading volume in the market has surpassed 20 trillion yuan, indicating a recovery in market activity and potential for continued performance improvement in the brokerage industry [5][30] Market Review - During the week of August 11-15, the Shanghai Composite Index rose by 1.7%, the Shenzhen Component Index by 4.5%, the CSI 300 Index by 2.4%, and the ChiNext Index by 8.6% [10] - The non-bank financial index increased by 6.5%, ranking 3rd among 31 sectors, outperforming the CSI 300 Index by 4.1 percentage points [10] - The brokerage index rose by 8.2%, outperforming the CSI 300 Index by 5.8 percentage points, with a PB ratio of 1.53x [3][10] - The top five performing brokerages were Changcheng Securities (+36%), Bank of China Securities (+21.8%), Dongfang Caifu (+15.3%), Tianfeng Securities (+12.8%), and Dongwu Securities (+11.3%) [4][10] Industry Weekly Data Brokerage Business - The average daily stock trading volume reached 20,780 billion yuan, a 24.1% increase week-on-week, recovering to levels seen in early November 2024 [5][17] - New fund issuance for stock, mixed, and bond funds was 3.9 billion, 4.9 billion, and 1.2 billion units respectively, with year-on-year changes of +220%, +42%, and -48% for August [21] Investment Banking Business - Three companies conducted equity financing with a total scale of 1.7 billion yuan, a 34% decrease week-on-week [23] - Year-to-date, IPO financing has increased by 68%, and refinancing by 365%, with private placements up by 528% [23] Capital Intermediation Business - As of August 15, the margin trading balance reached 20,552 billion yuan, a 2.3% increase week-on-week, maintaining above 20 trillion yuan for two consecutive weeks [6][25] - The financing balance exceeded 20 trillion yuan, reaching 20,410 billion yuan, with a 1.4% increase [25] Investment Recommendations - With the recovery in market risk appetite and continuous growth in trading volume, the brokerage industry's performance is expected to improve in the third quarter [30] - The report suggests focusing on internet brokerages with strong beta attributes, such as Zhina Compass, as they are likely to attract incremental capital allocation [30]

Core Viewpoint - The A-share market has seen significant gains, with the Shanghai Composite Index reaching a nearly four-year high, and brokerage firms are increasing their dividend payouts, indicating a positive trend in shareholder returns [1][4][5]. Group 1: Dividend Trends - Many brokerage firms are doubling their dividend payouts for 2024 compared to 2023, with Huayin Securities' dividend scale reaching ten times that of 2023 [1][5]. - As of August 13, over ten companies have proposed mid-term dividend plans for 2025, a significant increase from only two and one in 2022 and 2023, respectively [1][8]. - The number of brokerages planning mid-term dividends has surged to 26 in 2024, with expectations for further increases in 2025 [1][8]. Group 2: Specific Brokerage Dividend Data - In terms of per-hand dividend payouts for 2024, GF Securities leads with 40 yuan, followed by China Merchants Securities and Huatai Securities at 37.7 yuan and 37 yuan, respectively [2][11]. - Huayin Securities has seen its total dividend scale for 2024 reach 1.08 billion yuan, a significant increase from 0.108 billion yuan in 2023 [5][6]. - Southwest Securities' 2024 dividend scale is over double that of 2023, reaching 5.65 billion yuan, with plans for three dividend distributions throughout the year [6][8]. Group 3: Dividend Payment Rates - Among brokerages with a payout ratio above 50%, Guolian Minsheng leads at 80.04%, followed by Hongta Securities and Southwest Securities at 63.59% and 61.76%, respectively [12][14]. - In contrast, major brokerages like China Merchants Securities and GF Securities maintain payout ratios around 30%, with some even below 20% [12][14]. Group 4: Future Dividend Planning - More than ten brokerages have established three-year shareholder return plans for 2024-2026, indicating a strategic focus on long-term shareholder value [9][10]. - The upcoming half-year reports, typically released in late August, are expected to coincide with the announcement of mid-term dividend plans, potentially increasing the number of brokerages disclosing such plans [9][10].

Market Overview - The Shanghai Composite Index increased by 2.11%, closing at 3635.13 [3] - The Shenzhen Component Index rose by 1.25%, ending at 11128.67 [3] - The ChiNext Index saw a smaller gain of 0.49%, finishing at 2333.96 [3] - The STAR 50 Index and the Northbound 50 Index increased by 0.65% and 1.23% respectively [3] - The CSI 300 Index rose by 1.56%, closing at 1441.72 [3] Sector Performance - The PEAK Materials Index surged by 18.68% [4] - The Precious Metals Index increased by 9.19% [4] - The Military Equipment Index rose by 14.45% [4] - The Energy Equipment Index saw a gain of 7.16% [4] - The Engineering Machinery Index increased by 6.55% [4] - The Aerospace and Military Industry Index rose by 11.40% [4] Upcoming Events - The Hang Seng Hong Kong Stock Connect Innovative Drug Index will revise its compilation rules, effective August 11 [7] - OPEC will release its monthly oil market report on August 12 [7] - The 2025 China Embodied Intelligent Robot Industry Conference and Exhibition will take place from August 13 to 15 [7] - The 2025 World Humanoid Robot Games will be held from August 14 to 17 [8] - A press conference regarding the national economic operation will be conducted by the State Council Information Office on August 15 [8]