西南证券公告称，为进一步提升投资者获得感，公司推出2025年第三季度利润分配方案，拟向全体 股东每10股派发现金红利0.1元（含税），合计拟派发现金红利约6645.11万元（含税），占2025年第三 季度归属于母公司股东净利润的23.52%。 今年前三季度，西南证券实现营业收入25.18亿元，同比增长42.75%；实现归母净利润7.06亿元， 同比增长46.11%。对于三季度业绩增长，西南证券表示，主要系投资收益、手续费及佣金净收入、利 息净收入等同比增加所致。 今年前三季度，上市券商业绩亮眼。Wind统计显示，按申万行业分类，50家证券类上市公司合计 实现营收4522.19亿元，同比增长41.05%；实现归母净利润1830.90亿元，同比增长61.96%。 在业绩增长的同时，上市券商积极响应"一年多次分红"的政策号召，分红意识不断增强。截至目 前，已有6家券商根据最新经营情况公布了中期利润分配方案，拟对前三季度利润进行分配，包括兴业 证券、财通证券、首创证券、东北证券、西部证券、西南证券，合计拟派发现金红利约13.71亿元。 多家券商加入中期分红行列 兴业证券日前发布的2025年三季报显示，前三季度实现营收 ...

编者按： 时代之笔擘画新章，金融活水润泽实体。在金融"五篇大文章"铺就的壮阔画卷中，证券业正以创新之墨 挥毫作答。这是服务国家战略的使命担当，更是深化金融供给侧改革的生动实践。证券业以"国之大 者"为经，以"民之关切"做纬，让金融血脉与实体经济同频共振，奏响中国式现代化的资本强音。证券 时报联合中国证券业协会，推出"做好'五篇大文章' 证券业作答进行时"系列专栏， 本篇为系列报道之 五十七，敬请垂注。 科技型中小企业是打造新质生产力的微观载体和产业先导，但常面临着"成长的烦恼"。为此，券商以专业金融 力量为其纾困解难，既是服务实体经济的战略自觉，也是培育壮大新质生产力的责任担当。 锚定"科技型投行"战略方向，首创证券聚焦国家级专精特新"小巨人"及具备硬科技实力的创新型企业，从早期 接触、辅导规范到申报上市，通过构建"投研+投资+投行"三位一体的协同服务模式，致力提供覆盖企业全生 命周期的综合金融服务，走出了科技金融服务新范式。 "投研+投资+投行"三位一体 落实好金融"五篇大文章"，离不开组织层面的战略引领。首创证券以高质量党建为目标，将金融"五篇大文 章"纳入党委理论学习中心组和"第一议题"学习内容，创新构 ...

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！ 证券时报记者 马静 聚焦初创企业股权投资 在首创证券"投研+投资+投行"三位一体的协同模式中，另类投资子公司首正泽富扮演了"淘金者""陪跑者"的角色。 2023年以来，首正泽富投资的峆一药业、康乐卫士、艾能聚、戈碧迦、无锡鼎邦、科拜尔等10余家企业先后在北 交所上市，涉及制药、新能源等新质生产力行业。 据介绍，首正泽富确立了"以资本为纽带、以科技为支撑、以普惠为目标"的发展理念，通过市场化投资手段精准 赋能中小微企业及科技创新领域，构建了"三聚焦"的普惠金融服务体系。 科技型中小企业是打造新质生产力的微观载体和产业先导，但常面临着"成长的烦恼"。为此，券商以专业金融力 量为其纾困解难，既是服务实体经济的战略自觉，也是培育壮大新质生产力的责任担当。 锚定"科技型投行"战略方向，首创证券聚焦国家级专精特新"小巨人"及具备硬科技实力的创新型企业，从早期接 触、辅导规范到申报上市，通过构建"投研+投资+投行"三位一体的协同服务模式，致力提供覆盖企业全生命周期 的综合金融服务，走出了科技金融服务新范式。 "投研+投资+投行"三位一体 落实好金融" ...

证券之星消息，11月12日证券板块较上一交易日下跌0.77%，湘财股份领跌。当日上证指数报收于 4000.14，下跌0.07%。深证成指报收于13240.62，下跌0.36%。证券板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600095 | 湘财股份 | 11.65 | -8.12% | 132.48万 | 15.45 乙 | | 002670 | 圖盛证券 | 18.39 | -4.47% | 48.38万 | 9.01亿 | | 6501059 | 信达证券 | 17.90 | -2.72% | 24.78万 | 4.47 Z | | 000686 | 东北证券 | 9.98 | -2.35% | 171.20万 | 16.85 亿 | | 660109 | 太平洋 | 4.32 | -1.82% | 155.28万 | 6.76 Z | | 601456 | 国联民生 | 10.50 | -1.78% | 38.08万 | 4.02亿 | | 000712 | 锦 ...

智通财经APP获悉，首创证券发布研报称，爱康医疗(01789)发布2025年中期业绩公告，2025年上半年实 现营业收入6.94亿元(+5.60%)，归母净利润为1.61亿元(+15.3%)。首次覆盖给予"买入"评级，预计2025 年至2027年公司营业收入分别为15.12亿元、17.51亿元和20.27亿元;归属于上市公司股东的净利润分别 为3.30亿元、3.91亿元和4.63亿元。 报告中称，2025年上半年关节集采政策在全部省份落地执行，公司续约采购数量在所有品牌中继续居于 第一梯队，并较首轮集采上涨约10%。在首轮集采后，公司依靠集采落地快速完成对国家级医院和省级 医院的布局，实现了对高层级医院超过90%的覆盖，2025年上半年高层级医院贡献手术量较上年同期上 涨33%，产品临床认可度持续提升。公司正在通过调整销售团队组织架构，实施分级医院全覆盖策略， 有望进一步提升市场份额。 公司通过iCOS数字骨科平台，构建起骨科个性化服务的核心框架，依托现有3D打印技术平台、生物力 学平台、医工交互平台与影像数字处理平台，完成了个性化植入物从术前、术中到术后的全生命周期管 理系统。2022年至2024年，公司相 ...

此外，公司在海外市场采用JRI和AK双品牌运营模式，针对不同市场实现品牌、产品线和销售的互补。 2024年和2025年上半年，公司海外新增产品注册国家分别为5个/4个，新增经销商12家/5家。公司持续 推动数字骨科全流程解决方案在海外落地，提升临床服务能力，该行认为海外业务有望成为业绩增长的 新动能。 公司通过iCOS数字骨科平台，构建起骨科个性化服务的核心框架，依托现有3D打印技术平台、生物力 学平台、医工交互平台与影像数字处理平台，完成了个性化植入物从术前、术中到术后的全生命周期管 理系统。2022年至2024年，公司相继推出/获批了VTS可视化智能辅助导航系统、髋关节手术机器人和 膝关节手术机器人，2025年上半年K3智能手术机器人也获批上市。该行认为公司通过构建"术前规划 +术中导航/机器人系统+植入物"一体化全链条解决方案，对于骨科临床诊疗实现有效赋能，随着相关设 备装机量提升，预计将有效拉动植入物销量持续增长。 首创证券（601136）发布研报称，爱康医疗(01789)发布2025年中期业绩公告，2025年上半年实现营业 收入6.94亿元(+5.60%)，归母净利润为1.61亿元(+15.3%)。 ...

Market Performance - On November 6, the securities sector rose by 1.29%, with Northeast Securities leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Individual Stock Performance - Northeast Securities (000686) closed at 9.60, with a gain of 6.79% and a trading volume of 1.5123 million shares [1] - Huatai Securities (601688) closed at 22.46, up 5.64%, with a trading volume of 1.7308 million shares and a transaction value of 3.839 billion [1] - Other notable performers include: - GF Securities (000776) at 23.15, up 4.19% [1] - Guosen Securities (002736) at 14.26, up 3.78% [1] - Changjiang Securities (000783) at 8.97, up 3.10% [1] Capital Flow - The securities sector saw a net inflow of 1.499 billion in institutional funds, while retail investors experienced a net outflow of 0.526 billion [2] - Speculative funds had a net outflow of 0.973 billion [2]

Core Viewpoint - Shandong Qilong Marine Oil Steel Pipe Co., Ltd. has been approved for listing on the Beijing Stock Exchange, marking it as the 68th company to pass the review this year, with a focus on the development, production, and sales of marine drilling riser pipes and related services [1][2]. Company Overview - Shandong Qilong specializes in the research, production, and sales of marine drilling riser pipes, oil and gas long-distance pipeline production, and underwater oil and gas equipment testing services [1]. - The company is controlled by Shengli Longxi (Shandong) Petroleum Engineering Technology Service Co., Ltd., which holds 111,670,000 shares, accounting for 78.66% of the total share capital [1]. IPO Details - The company plans to publicly issue up to 47,320,000 shares, with an option for an overallotment of up to 7,098,000 shares, bringing the total potential issuance to 54,418,000 shares [2]. - The funds raised, totaling 38,188.90 million yuan, will be allocated for land transfer fees, main construction investments, factory renovations, equipment purchases, and working capital [2][3]. Investment Allocation - The investment breakdown for the raised funds is as follows: - Land transfer fees: 1,870.00 million yuan - Main construction and related investments: 10,696.46 million yuan - Factory renovation costs: 434.06 million yuan - Equipment purchase and installation costs: 23,289.00 million yuan - Working capital: 1,899.38 million yuan - Total: 38,188.90 million yuan [3]. Review Meeting Inquiries - The review meeting raised inquiries regarding: 1. The operating conditions of the controlling shareholder, including external borrowings and debt ratios [4]. 2. The stability of customer cooperation and sustainability of business performance, particularly with the largest customer, CNOOC [4].

Core Viewpoint - The article highlights the increasing trend of listed securities firms in China to establish a sustainable and stable shareholder return mechanism, driven by regulatory calls for improved shareholder returns and multiple dividends within a year [1][4]. Group 1: Dividend Distribution - Five listed securities firms, including Shouchao Securities, Industrial Securities, Western Securities, Southwest Securities, and Northeast Securities, plan to distribute nearly 1.1 billion yuan in cash dividends for the first three quarters [1][2]. - Shouchao Securities plans to distribute a cash dividend of 0.1 yuan per share, totaling 273 million yuan, while Industrial Securities aims for 432 million yuan with a dividend of 0.5 yuan per 10 shares [2][3]. - The cash dividend payout ratios for these firms vary, with Shouchao Securities at 34.01% and Northeast Securities at 21.94%, indicating a strong commitment to returning profits to shareholders [3]. Group 2: Financial Performance - In the first three quarters, 43 listed securities firms collectively achieved revenue of 421.42 billion yuan, a year-on-year increase of 42.57%, and a net profit attributable to shareholders of 169.29 billion yuan, up 62.48% [1][2]. - Notably, over 60% of these firms reported a net profit growth exceeding 50%, with Northeast Securities showing the highest growth rate of 125.21% [2]. Group 3: Regulatory Environment - The China Securities Regulatory Commission (CSRC) has emphasized the importance of shareholder returns, encouraging firms to balance profit reinvestment and shareholder payouts, and to enhance cash dividend levels [4]. - The trend towards higher dividend frequencies and increased cash dividend ratios is evident, with 17 firms in 2024 already exceeding a 40% cash dividend ratio, surpassing the previous year [4]. Group 4: Future Outlook - As of November 2, 2025, 16 listed securities firms have completed mid-year dividends totaling 7.908 billion yuan, with 13 firms still pending, expected to distribute nearly 11.2 billion yuan [5].

Core Viewpoint - The article highlights the trend of listed securities firms establishing a sustainable and stable shareholder return mechanism, driven by regulatory calls for increased shareholder returns and multiple dividends within a year [1][11]. Group 1: Dividend Distribution - Five securities firms have proposed dividend distributions for the first three quarters, with a total cash dividend of approximately 1.095 billion yuan [1][2]. - Among the firms, the total cash dividends proposed include 273 million yuan from Founder Securities, 66 million yuan from Southwest Securities, 432 million yuan from Industrial Securities, 89 million yuan from Western Securities, and 234 million yuan from Northeast Securities [3][4]. - Notably, two firms are expected to distribute cash dividends three times within the year [5]. Group 2: Financial Performance - The securities industry has seen a significant increase in revenue, with 43 listed firms achieving a total revenue of 421.416 billion yuan, a year-on-year increase of 42.57%, and a net profit of 169.291 billion yuan, up 62.48% [3][4]. - Among the five firms proposing dividends, all except Founder Securities reported a net profit growth of over 40%, with Northeast Securities showing the highest growth at 125.21% [4][6]. - The dividend payout ratios indicate that Founder Securities has the highest payout ratio at 34.01%, followed by Northeast Securities at 21.94% [6]. Group 3: Historical Context and Future Outlook - Last year marked the first instance of quarterly dividends among listed securities firms, with several firms continuing this trend into the current year [9]. - As of November 2, 2024, 16 listed securities firms have completed mid-year dividends totaling 7.908 billion yuan, with an additional 13 firms pending, amounting to 11.196 billion yuan in cash dividends [10][11].