证券代码：601108 证券简称: 财通证券 公告编号：2024-064 财通证券股份有限公司（以下简称"本公司"）于2024年5月22日成功发行了 财通证券股份有限公司2024年度第二期短期融资券（以下简称"本期短期融资 券"），本期短期融资券发行规模为人民币20亿元，票面利率为1.98%，短期融资 券期限为177天，兑付日期为2024年11月15日（详见本公司于2024年5月25日登载 于上海证券交易所网站 www.sse.com.cn 的《财通证券股份有限公司2024年度第 二期短期融资券发行结果公告》）。 2024年11月15日，本公司按期兑付了本期短期融资券本息共计人民币 2,019,203,287.67元。 2024年度第二期短期融资券兑付完成公告 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。 特此公告。 财通证券股份有限公司董事会 财通证券股份有限公司 2024年11月19日 ...

Group 1 - The core viewpoint is that the domestic pet market is experiencing robust growth, with intense competition and the emergence of new brands [1] - The industry is seeing continuous upgrades and innovations in product craftsmanship and raw materials, leading to stronger brand power and increased market share for quality companies [1] - Companies with financial advantages are investing in marketing, while those with supply chain advantages are focusing on high-quality production capacity [1] Group 2 - Recommended companies to pay attention to include Guibao Pet and Petty Co., Ltd [2]

Core Insights - The commercialization of genetically modified organisms (GMOs) is steadily advancing, providing leading seed companies with a first-mover advantage [1] - The GMO commercialization is expanding the corn seed market and can reduce costs while increasing efficiency [1] - Short-term focus should be on the promotion areas for GMO corn next year and the mergers and acquisitions actions of seed companies, while long-term attention should be on the changes in industry competition and the simultaneous increase in quantity and price of company performance [1] Company Recommendations - Companies to watch include Dabeinong and Denghai Seeds [2]

Group 1: Financial Performance - The company's net profit attributable to shareholders for Q3 2024 increased by 17.37% compared to the same period last year [3] - Cumulative net profit for the first three quarters of 2024 reached 1.472 billion yuan, a year-on-year decrease of 1.93%, with the decline narrowing compared to the first half of the year [5] - The increase in cash flow from operating activities is primarily due to changes in cash received and paid for securities trading and investment [4] Group 2: Shareholder Returns - The company plans to distribute a cash dividend of 0.50 yuan per 10 shares (including tax) by the end of the year [5] - The board has proposed a mid-term dividend plan, which has not yet been implemented [5] Group 3: Market Strategy and Growth - The company is focusing on sustainable high-quality development and is actively looking for merger and acquisition opportunities in the securities industry [3][6] - Since late September, the securities market has become more active, with a 180% increase in new account openings [6] Group 4: Corporate Governance and Investor Relations - The company has not yet implemented a share buyback program due to various factors, including industry attributes and capital needs [6] - The board has decided not to adjust the conversion price of the "Caitong Convertible Bonds" at this time [6]

Group 1 - The core viewpoint of the article highlights that Geely Automobile reported a significant increase in sales for October 2024, with total sales reaching 171,000 units, representing a year-on-year growth of 22% [1] - The sales of new energy vehicles reached 109,000 units in October, showing a remarkable year-on-year increase of 82.7% [1] Group 2 - By brand, Geely's sales in October were 171,000 units, with the Galaxy series achieving sales of 63,000 units, a year-on-year increase of over 83% [1] - The China Star high-end series sold 41,000 units, while Lynk & Co brand sales reached 31,000 units, reflecting a year-on-year growth of 26% [1] - Zeekr brand sales were 25,000 units, marking a year-on-year increase of 92% [1] Group 3 - Geely launched a new generation of super hybrid vehicles, the Thunder EM super hybrid, featuring the world's first E-DHT 11-in-1 hybrid electric drive system with a thermal efficiency of 46.5%, the highest in the industry for mass production [1] - The vehicle is equipped with the Starry AI Cloud Power system, integrating real-time perception information and travel big data, utilizing Geely's powerful computing capabilities for AI model prediction and decision-making algorithms [1] - The smart energy management system has led to an average fuel consumption reduction of 15%, with thermal management power consumption decreasing by over 30% [1]

Investment Rating - The report maintains a "Buy-A" rating for the company [2][3] Core Views - The company has experienced a decline in net income from its securities trading business, with a net income of 8.33 billion yuan for the first three quarters, down 7.52% year-on-year. The third quarter alone saw a decrease of 18.70% [2] - The asset management product scale remained stable at 1239.43 billion yuan, with asset management revenue of 11.80 billion yuan, roughly unchanged from the previous year [2] - The investment banking revenue dropped significantly by 28.82% year-on-year, totaling 3.91 billion yuan for the first three quarters due to a slowdown in the primary market issuance [2] - The company is focusing on internet customer acquisition and enhancing its wealth management services for residents, aiming for a new development cycle [2] - Projected revenues for 2024-2026 are 61.00 billion yuan, 65.76 billion yuan, and 73.42 billion yuan, with net profits of 23.92 billion yuan, 26.52 billion yuan, and 30.12 billion yuan, reflecting growth rates of 6.20%, 10.86%, and 13.59% respectively [2] Financial Performance Summary - For the first three quarters of 2024, the company reported total revenue of 44.41 billion yuan, a decrease of 10.36% year-on-year, and a net profit of 14.72 billion yuan, down 1.93% year-on-year [3] - The weighted average return on equity (ROE) was 4.19%, a decline of 0.29 percentage points year-on-year [3] - The third quarter net profit improved to 5.45 billion yuan, showing a year-on-year increase of 17.37% and a quarter-on-quarter increase of 15.79% [4] - The company’s management expenses significantly decreased by 17.94% year-on-year to 7.58 billion yuan in the third quarter, contributing to profit enhancement [4] - The self-operated investment business saw a revenue increase of 123.23% year-on-year in the third quarter, totaling 3.76 billion yuan, benefiting from improved market conditions [4] Financial Projections - Revenue projections for the upcoming years are as follows: 61.00 billion yuan in 2024, 65.76 billion yuan in 2025, and 73.42 billion yuan in 2026, with corresponding net profits of 23.92 billion yuan, 26.52 billion yuan, and 30.12 billion yuan [7] - The projected price-to-book (PB) ratios are 1.07 for 2024, 1.03 for 2025, and 1.01 for 2026 [7] - The expected earnings per share (EPS) are 0.52 yuan in 2024, 0.57 yuan in 2025, and 0.65 yuan in 2026 [7]

证券代码：601108 证券简称: 财通证券 公告编号：2024-063 1、中国货币网，http://www.chinamoney.com.cn； 2、上海清算所网站，http://www.shclearing.com。 特此公告。 财通证券股份有限公司董事会 2024年10月31日 财通证券股份有限公司 2024 年度第六期短期融资券已于 2024 年 10 月 29 日发行完毕， 相关发行情况如下： | 短期融资券名称 | | | 财通证券股份有限公司 | | | 2024 年度第六期短期融资券 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 短期融资券简称 | 24 | 财通证券 | | | CP006 | 短期融资券代码 | 072410200 | | 发行日 | 2024 | 年 | 10 | 月 28 | 日 | 起息日期 | 2024 年 10 月 29 日 | | 兑付日期 | 2025 | 年 | 5 月 | 16 | 日 | 期限 | 199D | | 计划发行总额 | 20 | | 亿元人民币 | | | 实际发行总额 | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company exhibits a neutral characteristic in proprietary trading and has strong internet customer acquisition capabilities. The ongoing market trend is expected to drive an increase in account market share, while the asset management business remains robust [3][4]. Financial Performance Summary - For the first three quarters of 2024, the company's total operating revenue and net profit attributable to shareholders were CNY 4.44 billion and CNY 1.47 billion, respectively, representing a year-on-year decline of 10% and 2%. The net profit for the third quarter was CNY 550 million, showing a quarter-on-quarter increase of 16% and a year-on-year increase of 17% [3]. - The annualized weighted average ROE for the first three quarters was 5.6%, down 0.4 percentage points year-on-year. The equity multiplier (excluding customer margin) was 3.2 times, a decrease of 0.1 times from the beginning of the year [3]. - The company has adjusted its market transaction volume assumptions and revised its profit forecasts for 2024-2026 to CNY 2.2 billion, CNY 2.8 billion, and CNY 3.4 billion, respectively, with year-on-year changes of -4%, +27%, and +23% [3]. Business Segment Performance - Brokerage net income for the first three quarters was CNY 830 million, down 8% year-on-year. The average daily stock trading volume in Q3 2024 was CNY 807.3 billion, a decrease of 12% year-on-year and 15% quarter-on-quarter [3]. - Investment banking revenue for the first three quarters was CNY 390 million, down 29% year-on-year, with Q3 revenue of CNY 110 million, down 22% quarter-on-quarter and 52% year-on-year [3]. - Asset management revenue remained flat year-on-year at CNY 1.18 billion for the first three quarters, with Q3 revenue of CNY 360 million, down 26% year-on-year and 30% quarter-on-quarter [3]. Valuation Metrics - The current stock price is CNY 8.18, with a total market capitalization of CNY 37.986 billion. The stock has a P/B ratio of 1.0 for 2024, 1.0 for 2025, and 0.9 for 2026 [2][4]. - The forecasted EPS for 2024, 2025, and 2026 is CNY 0.5, CNY 0.6, and CNY 0.7, respectively [3][4].

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：601108 证券简称：财通证券 公告编号： 2024-062 财通证券股份有限公司 重要内容提示： 关于召开 2024 年第三季度业绩说明会的公告 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第 三季度的经营成果及财务指标的具体情况与投资者进行互动交流和 会议召开时间：2024 年 11 月 14 日(星期四)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址： 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。 二、 说明会召开的时间、地点 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 07 日(星期四) 至 11 月 13 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 ir@ctsec.com 进行提问。公司将在说明会上对投资者 普遍关注的问题进行回答。 财通证券 ...

| 证券代码：601108 | 证券简称: 财通证券 | 公告编号：2024-061 | | --- | --- | --- | | 债券代码：113043 | 债券简称: 财通转债 | | 财通证券股份有限公司 关于不向下修正"财通转债"转股价格的公告 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。 2.因公开发行配股，"财通转债"转股价格自 2022 年 4 月 13 日起调整为 11.69 元/股。 3.因实施 2021 年年度权益分派，"财通转债"转股价格自 2022 年 6 月 20 日 起调整为 11.49 元/股。 4.因实施 2022 年年度权益分派，"财通转债"转股价格自 2023 年 6 月 19 日 起调整为 11.39 元/股。 重要内容提示： 截至 2024 年 10 月 29 日，财通证券股份有限公司（以下简称"公司"）A 股 股票已出现连续三十个交易日中至少有十五个交易日的收盘价低于当期可转债 转股价格的 80%之情形，触及"财通转债"转股价格向下修正条款。 经公司第四届董事会第十七次会议审议通过 ...