Core Viewpoint - The report from Pacific Securities highlights that Zhongshun Jierou's net profit attributable to shareholders for the first three quarters of 2025 reached 230 million yuan, representing a year-on-year increase of 329.59%, with Q3 net profit at 80 million yuan, up 335.38% [1] Industry Summary - The decline in upstream raw material prices and the overall optimization of product structure in the industry are contributing factors to the company's strong performance [1] - As a leading player in the household paper industry, the company is expected to be among the first to benefit from growth dividends due to these favorable industry conditions [1] Company Summary - The company continues to enrich its product matrix and enhance its pricing strategy, while establishing a diversified marketing network through six major channels [1] - The overseas business is anticipated to become a new growth engine, which may accelerate revenue growth and facilitate rapid recovery in performance, supporting the company's long-term growth [1] - The investment rating is maintained at "Buy" [1]

Core Viewpoint - The National Financial Supervision Administration of Longnan has approved the change of business location for China Pacific Property Insurance Co., Ltd.'s Lixian branch to a new address in Longnan City, Gansu Province [1] Group 1 - The new business location for the Lixian branch is specified as No. 22, Hongyu Community, Qinhan Avenue, Chengguan Town, Lixian County, Longnan City, Gansu Province [1] - China Pacific Property Insurance Co., Ltd. is required to handle the change and obtain the necessary permits in accordance with relevant regulations [1]

Core Points - The National Financial Supervision Administration of Tianshui has approved the change of business location for China Pacific Property Insurance Co., Ltd. Tianshui Branch [1] - The new business location is specified as the third floor of the Postal Delivery Building on Fendou Lane, Qinzou District, Tianshui City, Gansu Province [1] - China Pacific Property Insurance Co., Ltd. is required to handle the change and obtain the necessary permits in accordance with relevant regulations [1]

Core Insights - The company reported a total operating revenue of 1.037 billion yuan for Q3 2025, with a net profit attributable to shareholders of 246 million yuan [1] - The net cash inflow from operating activities was 401 million yuan, which represents a decrease of 955 million yuan, or 70.41%, compared to the same period last year [1] Financial Metrics - The latest debt-to-asset ratio is 50.28%, an increase of 1.28 percentage points from the previous quarter and an increase of 6.58 percentage points year-on-year [3] - The return on equity (ROE) stands at 2.47% [3] - The diluted earnings per share (EPS) is 0.04 yuan [3] - The total asset turnover ratio is 0.05 times [3] Shareholder Information - The number of shareholders is 365,200, with the top ten shareholders holding a total of 1.455 billion shares, accounting for 21.34% of the total share capital [3] - The top ten shareholders and their respective holdings are as follows: - Beijing Jiayu Investment Co., Ltd.: 10.9% - China Construction Bank Co., Ltd. - Guotai CSI All Index Securities Company ETF: 2.58% - Hong Kong Central Clearing Limited: 2.07% - China Construction Bank Co., Ltd. - Huabao All Index Securities Company ETF: 1.68% - Agricultural Bank of China Co., Ltd. - CSI 500 ETF: 1.45% - Shenzhen Tianyi Consulting Co., Ltd.: 0.86% - Dalian Tiensheng Shobo Technology Co., Ltd.: 0.67% - Guotai Haitong Securities Co., Ltd. - Tianhong CSI All Index Securities Company ETF: 0.43% - Bank of China Co., Ltd. - Southern CSI All Index Securities Company ETF: 0.37% - Caida Securities Co., Ltd.: 0.31% [3]

Core Points - The U.S. military conducted three attacks in the Eastern Pacific, sinking four drug trafficking boats, resulting in 14 deaths and one survivor, marking a significant escalation in the U.S. government's efforts against drug traffickers in the Western Hemisphere [1][2] - U.S. Defense Secretary Lloyd Austin characterized the drug traffickers as akin to "al-Qaeda" terrorists, emphasizing the commitment to track, pursue, and eliminate them [1] - The recent military actions have increased tensions between the U.S. and Colombia and Venezuela, with a total of 14 boats sunk since the beginning of the campaign, leading to at least 57 deaths since September [2] Summary by Sections Military Actions - The U.S. military's recent operations involved sinking four boats in a single day, a first for such a coordinated effort [1] - The attacks were aimed at vessels identified as belonging to terrorist organizations, carrying drugs along known trafficking routes [1] Government Response - The Pentagon confirmed that one survivor from the attacks was found near the Mexican Pacific coast, indicating Mexico's involvement in the expanded U.S. operations [2] - Mexican President Claudia Sheinbaum expressed disapproval of the U.S. military actions and requested meetings with U.S. officials [2] Impact on Relations - The military strikes have strained relations between the U.S. and Latin American countries, particularly Colombia and Venezuela, due to the increased military presence and actions in the region [2]

Group 1 - The core viewpoint of the article highlights Pacific's strong financial performance in Q3 2023, with significant increases in revenue and net profit compared to the previous year [1] - The company's revenue for the first three quarters of 2023 reached approximately 1.037 billion yuan, representing a year-on-year increase of 19.88% [1] - The net profit attributable to shareholders for the same period was about 246 million yuan, showing a substantial year-on-year growth of 80.26% [1] - Basic earnings per share increased to 0.036 yuan, also reflecting an 80% year-on-year rise [1] Group 2 - As of the report date, Pacific's market capitalization stands at 31.6 billion yuan [2]

Core Viewpoint - Pacific Securities reported significant growth in revenue and net profit for the first three quarters of 2025, indicating strong financial performance and operational efficiency [1]. Financial Performance - Operating revenue for the first three quarters reached 1.037 billion, representing a year-on-year increase of 19.88% [1]. - Total profit amounted to 337.62 million, showing a substantial growth of 79.04% compared to the previous year [1]. - Net profit attributable to shareholders was 246.63 million, reflecting an increase of 80.26% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 243.00 million, with a growth rate of 93.03% [1]. - Basic earnings per share were 0.036, marking an increase of 80.00% [1]. - Diluted earnings per share also stood at 0.036, with the same growth rate of 80.00% [1]. Cash Flow and Assets - The net cash flow from operating activities was not applicable for the current period, but it was reported at 400.61 million, showing a decline of 70.41% year-on-year [1]. - Total assets at the end of the reporting period were 20.00 billion, which is an increase of 8.58% compared to the end of the previous year [1]. - The weighted average return on equity was 2.50%, up by 1.07 percentage points from the previous year [1].

Core Viewpoint - Pacific (601099.SH) reported significant growth in its Q3 2025 financial results, indicating strong operational performance and profitability improvements [1] Financial Performance - The company's operating revenue reached 422 million yuan, representing a year-on-year increase of 30.45% [1] - Net profit attributable to shareholders was 125 million yuan, showing a substantial year-on-year growth of 83.89% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 124 million yuan, reflecting an increase of 85.56% year-on-year [1]

太平洋证券股份有限公司会计师事务所选聘制度 第二章 会计师事务所执业质量要求 第五条 公司选聘的会计师事务所应当满足下列条件： 太平洋证券股份有限公司 会计师事务所选聘制度 （经公司 2023 年第一次临时股东大会审议通过，拟提交 2025 年第一次临时 股东大会审议修订） 第一章 总则 第一条 为规范太平洋证券股份有限公司（以下简称公司）选聘（含续聘、 改聘，下同）会计师事务所的行为，切实维护股东利益，提高公司审计工作和财 务信息质量，根据《中华人民共和国公司法》《中华人民共和国证券法》（以下简 称《证券法》）《国有企业、上市公司选聘会计师事务所管理办法》《上市公司治 理准则》《上市公司章程指引》《上市公司审计委员会工作指引》《上海证券交易 所上市公司自律监管指引第 1 号——规范运作》等法律法规、规范性文件及《太 平洋证券股份有限公司章程》（以下简称《公司章程》）的有关规定，制定本制度。 第二条 本制度所称选聘会计师事务所，是指公司根据相关法律法规、规范 性文件要求，聘任会计师事务所对财务会计报告发表审计意见、出具审计报告的 行为。公司聘任会计师事务所从事除财务会计报告审计之外的其他审计业务的， 可以参照 ...

太平洋证券股份有限公司 关于修订《公司章程》的公告 证券代码：601099 证券简称：太平洋 公告编号：临 2025-26 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。 太平洋证券股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开 第四届董事会第六十八次会议，审议通过关于修订《公司章程》的议案。 公司董事会同意根据《中华人民共和国公司法》《上市公司章程指引》《关于 新<公司法>配套制度规则实施相关过渡期安排》等相关规定，结合公司实际情 况，对《公司章程》进行修订（详见公告附件），并提请股东大会授权公司经营 管理层全权办理本次修订《公司章程》的相关手续。本次《公司章程》修订完成 后，公司将不再设置监事会，《监事会议事规则》相应废止，由董事会审计委员 会行使《公司法》等规定的监事会职权。 《公司章程》全文详见上海证券交易所网站 www.sse.com.cn。 附件：《太平洋证券股份有限公司章程》修订对照表 特此公告。 太平洋证券股份有限公司董事会 二〇二五年十月三十日 1 附件：《太平洋证券股份有限公司章程 ...