华安证券：继续看好银行的后续趋势性上涨行情 智通财经7月13日电，华安证券表示，从银行股本轮上涨的内在运行逻辑，即高股息支撑来看，我们继 续看好银行的后续趋势性上涨行情。银行股通过分子端高分红维持高股息率的内在逻辑仍然强势和确 认。根据测算，短期若考虑2024年报年中分红落地，在8月初前银行股息率有望提升0.3-0.62个百分点。 中期若考虑 2025 年中报分红落地，保守估计在2026年1月初前银行股息率有望再度提升0.6-1.21个百分 点。 ...

Financial Performance - In the first half of 2025, the company achieved total operating revenue of 280,768.08 million RMB, representing a year-on-year increase of 43.09% compared to 196,216.78 million RMB in the same period last year [1] - Operating profit reached 133,902.85 million RMB, up 72.68% from 77,541.78 million RMB [1] - Total profit amounted to 133,820.70 million RMB, reflecting a 72.62% increase from 77,521.48 million RMB [1] - Basic earnings per share increased to 0.22 RMB, a rise of 46.67% from 0.15 RMB [1] - The weighted average return on equity was 4.52%, up from 3.33% [1] Investment Income and Revenue Sources - The company reported significant growth in investment income and net commission income during the reporting period, contributing to the overall increase in operating performance [2] - The operating revenue for the first half of 2025 increased by 44.94% compared to the previous year [2] Financial Position - Total assets were recorded at 10,212,290.48 million RMB, a slight decrease of 0.87% from 10,301,409.43 million RMB [1] - The company's equity attributable to shareholders showed a minor decline, with the share capital at 467,839.85 million RMB, down 0.41% from 469,771.53 million RMB [1]

证券代码：600909 证券简称：华安证券 公告编号：2025-047 根据法律法规和《公司章程》相关规定，陈蓓女士的辞职不会导致公司董事 会人数低于法定最低人数，也不影响公司的正常运作，上述辞职事项自辞职报告 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： 一、董事提前离任的基本情况 是否存 | | | | 是否继续在上 | 在未履 | | | --- | --- | --- | --- | --- | --- | | | | 原定任期 | | 具体职务 | | | 姓名 | 离任职务 | 离任时间 | 离任原因 | 市公司及其控 | 行完毕 | | | | 到期日 | | （如适用） | | | | | | 股子公司任职 | 的公开 | | 承诺 陈蓓 第 四届 董事会 2025 年 7 2026 年 5 上级组织 是 华安证券 否 董 事、 风险控 月 11 日 月4日 安排 (香港)金融 制委员会委 控股有限公 员 、薪 酬与考 司董事 华安证券股份有限公司 关于公司董事离任的公告 送达董事会之日起生效 ...

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： | 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任原因 | 是否继续在上 市公司及其控 股子公司任职 | 具体职务 （如适用） | 是否存 在未履 行完毕 的公开 承诺 | | --- | --- | --- | --- | --- | --- | --- | --- | | 陈蓓 | 第四届董事会 | 2025 年 7 | 2026 年 5 | 上级组织 | 是 | 华 安 证 券 | 否 | | | 董事、风险控 | 月 11 日 | 月 4 日 | 安排 | | (香港)金融 | | | | 制 委 员 会 委 | | | | | 控股有限公 | | | | 员、薪酬与考 | | | | | 司董事 | | | | 核 委 员 会 委 | | | | | | | | | 员、提名委员 | | | | | | | | | 会委员职务 | | | | | | | 证券代码：600909 证券简称：华安证券 公告编号：2025-047 华安证券股 ...

证券代码： 600909 证券简称：华安证券 公告编号： 2025-046 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、2025年半年度主要财务数据和指标(合并口径) 币种：人民币 单位：万元 | 营业总收入 | 280,768.08 | 196,216.78 | 43.09 | | --- | --- | --- | --- | | 营业利润 | 133,902.85 | 77,541.78 | 72.68 | | 利润总额 | 133,820.70 | 77,521.48 | 72.62 | | 归属于上市公司股东的净 利润 | 103,513.55 | 71,419.33 | 44.94 | | 归属于上市公司股东的扣 | 102,853.57 | 71,045.82 | 44.77 | | 除非经常性损益的净利润 | | | | | 基本每股收益（元） | 0.22 | 0.15 | 46.67 | | 加权平均净资产收益率 | 4.52% | 3.33% | 增加1.19个百 | | | | | 分点 | | ...

Core Insights - As of July 11, 2025, the main silver futures contract (2510) closed at a price increase of 1.74%, with a trading volume of 1,169,400 contracts and a net long position of 53,243 contracts among the top 20 positions [1][3]. Trading Volume and Positions - The total trading volume for all silver futures contracts reached 1,686,400 contracts, an increase of 989,100 contracts from the previous day [1][4]. - Among the top 20 positions, long positions totaled 542,800 contracts, up by 70,600 contracts, while short positions totaled 411,500 contracts, an increase of 35,000 contracts [1][4]. Major Players - The top three long positions were held by: - CITIC Futures with a total position of 88,000 contracts, an increase of 13,995 contracts - Guotai Junan with 74,808 contracts, an increase of 2,737 contracts - Dongzheng Futures with 36,933 contracts, an increase of 11,622 contracts [1][4]. - The top three short positions were held by: - CITIC Futures with 58,236 contracts, an increase of 5,511 contracts - Guotai Junan with 39,608 contracts, an increase of 2,526 contracts - Galaxy Futures with 29,596 contracts, an increase of 3,851 contracts [1][4]. Position Changes - The top three increases in long positions among the top 20 were: - CITIC Futures with an increase of 7,315 contracts - Dongzheng Futures with an increase of 6,803 contracts - Huatai Futures with an increase of 6,011 contracts [1][3]. - The top three increases in short positions were: - CITIC Futures with an increase of 5,511 contracts - Galaxy Futures with an increase of 3,843 contracts - Jinrui Futures with an increase of 3,791 contracts [1][3].

新浪期货 根据交易所数据，截至7月10日收盘主力合约玻璃2509,涨跌+5.25%,成交量306.80万手，持仓数据显示前20席位呈现净 空，差额头寸为234895手。 文章来源:新浪期货 2025年7月10日玻璃主力合约2509持仓数据一览 | | 名次 会员名称 成交量(双边) | | 增减 | 会员 | 持买单 增减 | | 会员 | 持卖单 | 增减 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | T | 中信期货 | 492,427 | 278,660 | 国泰君安 | 80,787 | 6,830 | | 国泰君安 144,691 -51,924 | | | 2 | 国泰君安 | 442,452 | 231,502 | 中信期货 | 54,623 | 5,583 | | 中信期货 108,917 -2,196 | | | 3 | 东证期货 | 311,558 | 164,450 | 东证期货 | 46,940 | 2,751 | 银河期货 | 96.653 | 1,688 | | 4 | 走闻期货 | 251,22 ...

根据合并数据显示，多头前三席位为中信期货，总持仓34966、国泰君安，总持仓30466、海通期货，总持仓18689；空头前三席位 为中信期货，总持仓40925、国泰君安，总持仓25541、海通期货，总持仓15773； 新浪期货 根据交易所数据，截至7月09日收盘主力合约中证500指数期货2509,涨跌-0.42%,成交量2.65万手，持仓数据显示前20席位 呈现净空，差额头寸为6218手。 中证500指数期货期货全合约总计成交7.08万手，比上一日减少2.22万手。全合约前20席位多头持仓17.29万手，比上一日减少8773 手。全合约前20席位空头持仓18.44万手，比上一日减少1.00万手。 主力合约前20席位中，多头增仓前三名分别是：中信建投、持仓3016、增仓332，国信期货、持仓1415、增仓183，银河期货、持 仓3322、增仓103；多头减仓前三名分别是：国泰君安、持仓9555、减仓-1870，中信期货、持仓14475、减仓-1040，海通期货、 持仓8268、减仓-888； 主力合约前20席位中，空头增仓前三名分别是：申银万国、持仓1396、增仓179，中信建投、持仓1665、增仓96，招商期 ...

Core Viewpoint - The event organized by the Shandong Futures Association aims to enhance communication and cooperation among futures companies, focusing on high-quality development and service to the real economy, in line with national policies [1][3]. Group 1: Event Overview - The Shandong Futures Association organized a learning exchange activity involving over 20 representatives from local futures companies, visiting Zhejiang-based firms to share experiences and strategies [1]. - The event was guided by the Shandong Securities Regulatory Bureau and aimed to build a communication bridge for mutual learning and development among futures institutions [1]. Group 2: Company Strategies and Insights - Hu Jun, Chairman of Zhejiang Merchants Futures, emphasized compliance as a cornerstone for sustainable development, focusing on research and innovation to simplify futures trading through technology integration [3]. - Jia Xiaolong, General Manager of Nanhua Futures, highlighted the company's commitment to serving national strategies and local economies, developing overseas business and wealth management as dual engines for growth [3]. - Ma Zhiwei, General Manager of Yong'an Futures, stated the company's mission of "finance for good, futures for reality," outlining three strategic focuses: commodity investment banking, asset allocation expertise, and leadership in international business [3]. Group 3: Outcomes and Future Directions - The Shandong delegation engaged in discussions on key topics such as serving the real economy, empowering rural revitalization, and fostering industry culture, gaining insights from Zhejiang's advanced practices in strategic determination and social responsibility [4]. - Participants expressed that the event broadened their perspectives and inspired innovative service models, reinforcing the importance of collaboration in contributing to national strategies and economic development [4]. - The Shandong Futures Association plans to continue enhancing work efficiency and service levels under the guidance of the Shandong Securities Regulatory Bureau, aiming to support member development and contribute to China's modernization journey [4].

Group 1 - The "anti-involution" policy has become a focal point for various industries, with significant attention from the stock and commodity markets [1][3] - At least 23 brokerages have published 36 research reports on "anti-involution" since July 1, indicating a strong interest in understanding its implications [1] - The central government's emphasis on improving product quality and orderly competition is expected to enhance supply-demand dynamics across industries [1][2] Group 2 - The current "anti-involution" initiative differs from the supply-side reform of 2015-2016 in three key aspects: broader industry coverage, better operating conditions for upstream companies, and a higher proportion of private enterprises in emerging sectors [2] - The "anti-involution" trend has led to a surge in sectors like steel, coal, and photovoltaics, with specific stocks experiencing significant gains [3] - Short-term benefits from industry self-discipline and policy guidance may help narrow supply-demand gaps, but long-term sustainability requires addressing overcapacity and improving profitability [4] Group 3 - Industries likely to benefit from the "anti-involution" policy include the photovoltaic supply chain, traditional sectors with excess capacity like steel and cement, and emerging non-manufacturing sectors such as e-commerce [5][6] - Specific sectors identified as potential beneficiaries include coal mining, coke, common steel, energy metals, glass fiber, precious metals, and the hospitality industry [6]