Group 1: New Listings on Hong Kong Stock Exchange - Five companies, including Yuchai Ship Electric, Deyang Co., Weiyuan Energy, Xinquan Co., and Xingchen Tianhe, have submitted listing applications to the Hong Kong Stock Exchange, showcasing the attractiveness of the Hong Kong market for real economy and hard technology enterprises [1] Group 2: Collaboration between Exchanges - Hong Kong Stock Exchange has signed a memorandum of cooperation with the Brazilian Securities Exchange to promote sustainable finance and carbon market development, exploring cross-border securities listing and new opportunities in carbon and ESG products [2] Group 3: Walden Materials' Listing Progress - Walden Materials has passed the listing hearing on the Hong Kong Stock Exchange, being one of the largest manufacturers of heat shrink materials and communication cable products globally, with a market share of 20.6% in the global heat shrink materials industry and 12.7% in the telecommunications cable sector [3] Group 4: Financial Performance of China Merchants Securities - China Merchants Securities reported preliminary financial data for 2025, achieving a total revenue of 24.9 billion yuan, a year-on-year increase of 19.19%, and a net profit attributable to shareholders of 12.3 billion yuan, up 18.43% year-on-year, reflecting a steady transformation aligned with serving the real economy [4] Group 5: Hong Kong Stock Market Performance - The Hang Seng Index closed at 27,126.95, with a gain of 1.35%, while the Hang Seng Tech Index rose by 0.50% to 5,754.72, and the National Enterprises Index increased by 1.07% to 9,244.88 [5]

Group 1 - The core viewpoint of the article highlights that China Merchants Securities (600999.SH) has reported a positive financial performance for the year 2025, driven by its strategic alignment with national economic and social goals [1] - In 2025, the company achieved total operating revenue of RMB 24.9 billion, representing a year-on-year growth of 19.19% [1] - The net profit attributable to shareholders of the parent company reached RMB 12.3 billion, reflecting an 18.43% increase compared to the previous year [1]

招商证券(06099)2025年度归母净利润123亿元，同比增长18.43% 【重大事项】 国恩科技(02768)1月27日至1月30日招股 预计2月4日上市 鸣鸣很忙(01768)：香港公开发售获1899.49倍认购 每股发售价236.6港元 威胜控股(03393)建议分拆惟远能源并于港交所主板独立上市 安踏体育(02020)拟约15.06亿欧元收购PUMA SE的29.06%股权 英矽智能(03696)与齐鲁制药达成超过9.31亿港元的药物研发合作 加速心血管与代谢类疾病创新疗法开 发 华检医疗(01931)子公司成功研发尼帕病毒检测双平台解决方案及集团AI医疗战略升级 【财报数据】 康希诺生物(06185)预期2025年度取得归母净利润2450万元到2900万元 同比扭亏为盈 中海物业(02669)发盈警 预期2025年股东应占溢利同比下跌9-10% 中国中药(00570)发盈警 预计2025年度净亏损约3.5亿至5亿元 【股债融资】 海通恒信(01905)发布2025年业绩快报 年度溢利14.25亿元 同比减少5.8% 国泰海通(02611)发盈喜 预期年度归母净利约275.33亿元到280.06亿元 ...

Core Viewpoint - The announcement from China Merchants Securities indicates a strong financial performance for the year 2025, with significant growth in both revenue and net profit compared to the previous year [1]. Financial Performance - The total operating revenue for 2025 reached 2,489,959.05 million yuan, representing a year-on-year increase of 19.19% [1]. - The net profit attributable to shareholders of the parent company was 1,229,973.71 million yuan, showing a year-on-year growth of 18.43% [1].

智通财经APP讯，招商证券(06099)发布2025年度初步财务数据，2025年，公司积极融入国家经济社会大 局，以服务金融"五篇大文章"为战略引领，强化协同联动，实现发展质量和经营效益稳步提升。2025 年，公司实现营业总收入人民币249.00亿元，同比增长19.19%;实现归属于母公司股东的净利润人民币 123.00亿元，同比增长18.43%。 ...

格隆汇1月27日丨招商证券(06099.HK)公告，2025年，公司积极融入国家经济社会大局，以服务金融 「五篇大文章」为战略引领，强化协同联动，实现发展质量和经营效益稳步提升。2025年，公司实现营 业总收入人民币249.00亿元，实现归属于母公司股东的净利润人民币123.00亿元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 6099 2025年度初步財務數據 本公告由招商證券股份有限公司（「本公司」）根據證券及期貨條例（香港法例第571章）第 XIVA部之內幕消息條文（定義見香港聯合交易所有限公司證券上市規則（「上市規則」））及 上市規則第13.09條及第13.10B條而作出。 本公告所載之截至2025年12月31日止年度（「本報告期」）主要財務數據和指標為初步財務 數據，乃根據中國企業會計準則編製且未經審計。最終財務數據以本公司2025年年度報 告所披露者為準。 本公司預計本公司及其附屬公司截至2025年12月31日止年度的經審計業績將根據上市規 則的規定於2026年3月31日或之前刊發。 | 項目 | 本報告期末 | 本報告期初 | (%) | | --- | --- | --- | --- | | 總資產 | 75,334,988.48 | 72,116,033.14 | 4.46 | | 歸屬於母公司股東的權益 | ...

Macro Dynamics - The People's Bank of China reported that by the end of Q4 2025, the balance of real estate development loans will decrease by 3% year-on-year, amounting to 13.16 trillion yuan, with an annual reduction of 357.5 billion yuan [2] - The total balance of RMB real estate loans will be 51.95 trillion yuan, down 1.6% year-on-year, with an annual decrease of 963.6 billion yuan [2] Market Regulation - The State Administration for Market Regulation announced ten major cases of "involution" competition for 2025, emphasizing a strict enforcement approach to combat infringement, quality violations, and monopolistic agreements [3] Real Estate Market - In major cities like Shanghai, the number of second-hand housing listings is declining as transaction volumes recover, with listings returning to levels seen in February of the previous year [5] Financial Institutions - China Merchants Securities reported a net profit of 12.3 billion yuan for 2025, an increase of 18.43% year-on-year, with total revenue of 24.9 billion yuan, up 19.19% [8] - Dongfang Securities expects a net profit of 5.62 billion yuan for 2025, a year-on-year increase of 67.8%, with projected revenue of 15.34 billion yuan [9] Market Data - The ChiNext Index rose by 0.71%, with the semiconductor sector showing strong performance, while the overall market saw over 1,900 stocks increase in value [11] - The total margin financing balance across both exchanges increased by 19.55 billion yuan, reaching 26.99 trillion yuan [12] Company Dynamics - Mu Xi Co. launched the X series scientific intelligent GPU, aimed at enhancing the AI for Science ecosystem [14] - *ST Boda announced a projected net profit of 6 to 8 million yuan for 2025, with a significant expected loss in net profit after non-recurring items [15] - Zhongjin Gold expects a net profit of 4.8 to 5.4 billion yuan for 2025, a year-on-year increase of 41.76% to 59.48%, driven by improved profitability in gold mining [16] - Ideal Auto plans to close a small number of inefficient retail stores as part of normal operational adjustments [17] - Guandun Quantum anticipates a net profit of around 5 million yuan for 2025, marking a turnaround from losses [18] - Zhenlei Technology expects a net profit of 123 to 145 million yuan for 2025, a significant increase of 529.64% to 642.26% year-on-year [19]

Core Viewpoint - Multiple listed securities firms are expected to report positive performance for 2025, with significant year-on-year profit growth anticipated across the sector [1][2]. Group 1: Performance Forecasts - Several securities firms, including China Merchants Securities, Shenwan Hongyuan Securities, Dongfang Securities, and Hongta Securities, have released performance forecasts indicating net profit growth of 18.43%, 74.64%-93.83%, 67.8%, and 59.05% respectively for 2025 [1][3]. - Citic Securities, a leading firm, reported a projected revenue of 748.3 billion yuan and a net profit of 300.51 billion yuan for 2025, reflecting year-on-year increases of 28.75% and 38.46% respectively [5][7]. - Dongfang Securities anticipates a revenue of 153.4 billion yuan, up 26.0%, and a net profit of 56.2 billion yuan, up 67.8% [4][7]. Group 2: Market Dynamics - The A-share market is expected to continue its upward trend, with daily trading volume increasing significantly, reaching an average of 19.8 trillion yuan, a 67% year-on-year increase [8]. - The balance of margin financing and securities lending is projected to reach 2.5 trillion yuan by the end of 2025, marking a 36% increase [8]. - Analysts attribute the strong performance of securities firms to three main factors: a stable macroeconomic environment, increased market activity, and strategic upgrades within firms [8][9]. Group 3: Analyst Predictions - Analysts predict that the overall net profit of listed securities firms will grow by over 50% in 2025, driven by robust trading activity and improved brokerage income [9][10]. - Financial Street Securities forecasts a 53.24% year-on-year increase in daily trading volume, with brokerage income expected to rise by over 40% [9]. - According to analysts, the growth in net profit is primarily driven by brokerage and investment business performance [10].

智通财经APP讯，招商证券(600999.SH)披露2025年度业绩快报，2025年实现营业总收入249亿元，同比 增长19.19%;归属于母公司股东的净利润123亿元，同比增长18.43%。 2025年，公司积极融入国家经济社会大局，以服务金融"五篇大文章"为战略引领，强化协同联动，实现 发展质量和经营效益稳步提升。 ...