Core Viewpoint - The announcement of the transfer of state-owned shares from Shouchuang Group to Beijing Infrastructure Investment Co., Ltd. aims to deepen strategic cooperation and optimize the shareholder structure of Shouchuang Securities, enhancing its business development capabilities [2][5]. Group 1: Share Transfer Details - Shouchuang Group plans to transfer 97.42316 million A-shares, accounting for 3.56% of the total share capital, to Beijing Infrastructure Investment Co., Ltd. [2] - After the transfer, Shouchuang Group's shareholding will decrease from 56.77% to 53.20%, while Beijing Infrastructure Investment's shareholding will increase from 17.31% to 20.87% [2]. Group 2: Background of the Companies - Shouchuang Group, established in 1995, has developed a "3+1" industrial system focusing on ecological protection, urban development, and financial services, with total assets exceeding 420 billion yuan [6]. - Beijing Infrastructure Investment Co., Ltd., founded in 2003, specializes in infrastructure investment and management, particularly in rail transit, with total assets reaching 927.621 billion yuan and net assets of 314.897 billion yuan by the end of 2024 [6]. Group 3: Strategic Implications - The share transfer is part of a broader strategy to optimize financial resources within the Beijing state-owned enterprise system, aligning with the 2025 reform direction of the Beijing State-owned Assets Supervision and Administration Commission [8]. - Shouchuang Securities plans to go public in Hong Kong in 2025, marking its 25th anniversary, which could enhance its capital strength and international competitiveness [9]. Group 4: Financial Performance - In the first half of 2025, Shouchuang Securities reported a revenue of 1.284 billion yuan, a year-on-year increase of 2.33%, and a net profit of 490 million yuan, up 2.8% year-on-year [9]. - The growth figures are modest compared to industry standards, indicating a need for more significant improvements as the company prepares for its Hong Kong listing [9].

Group 1 - Core viewpoint: 首创证券 has submitted its H-share listing application to the Hong Kong Stock Exchange, aiming to enhance its capital strength and competitiveness while integrating international resources [1] - The IPO will be jointly sponsored by several major financial institutions, including CITIC Securities and China Galaxy International [1] - The funds raised will support the company's asset management and investment businesses, strengthen IT and technology investments, and promote digital transformation [1] Group 2 - 首创证券 has established itself as a leading financial service provider with a diverse and stable client base, focusing on differentiated development [2] - According to a report by Frost & Sullivan, from 2022 to 2024, the company ranks fifth in revenue growth and tenth in net profit growth among 42 A-share listed securities companies in China [2] - In 2024, the company is projected to rank first in total asset return and seventh in adjusted weighted net asset return among A-share listed securities firms [2]

据了解，目前A股市场共有42家上市证券公司，其中13家实现了"A+H"上市，分别为中信证券、中金公 司、中国银河、华泰证券、国泰海通、广发证券、东方证券、光大证券、申万宏源、中信建投、中原证 券、国联民生、招商证券。 首创证券立足北京、服务全国，打造了一站式金融服务平台，拥有多元且稳定增长的客户群体。公司近 年来保持良好发展态势，已成长为一家价值创造能力领先，资产管理能力突出，追求特色化、差异化发 展的金融服务商。 根据弗若斯特沙利文报告披露，在国内会计准则下，2022年至2024年，首创证券收入及净利润年复合增 长率，在国内42家A股上市证券公司中分别排名第五及第十。2024年，公司总资产收益率及扣非加权净 资产收益率在A股已上市证券公司中分别排名第一及第七。 （文章来源：中国证券报） 10月16日晚间，首创证券向港交所递交H股发行上市申请。此次港股IPO联席保荐人包括中信证券、中 国银河国际、中信建投国际、中银国际。 招股书显示，公司此次港股上市募集的资金将用于支持公司资产管理类业务、投资类业务等核心业务发 展，加强IT、科技投资，推动公司数智化转型，提升行业竞争力，为公司长远发展提供资金支持。 首创证券 ...

首创证券（601136）(601136.SH)公告，公司已于2025年10月16日向中国香港联交所递交了发行境外上 市股份(H股)并在联交所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请 资料。 ...

智通财经APP讯，首创证券(601136.SH)公告，公司已于2025年10月16日向中国香港联交所递交了发行境 外上市股份(H股)并在联交所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的 申请资料。 ...

中文： https://www1.hkexnews.hk/app/sehk/2025/107790/documents/sehk25101601106 _c.pdf 证券代码：601136 证券简称：首创证券 公告编号：2025-044 首创证券股份有限公司 关于向香港联交所递交 H 股发行上市的申请 并刊发申请资料的公告 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。 首创证券股份有限公司（以下简称公司）已于 2025 年 10 月 16 日向香港联 合交易所有限公司（以下简称香港联交所）递交了发行境外上市股份（H 股）并 在香港联交所主板挂牌上市（以下简称本次发行上市）的申请，并于同日在香港 联交所网站刊登了本次发行上市的申请资料。该申请资料为公司按照香港证券及 期货事务监察委员会（以下简称香港证监会）及香港联交所的要求编制和刊发， 为草拟版本，其所载资料可能会适时作出更新及修订，投资者不应根据其中的资 料作出任何投资决定。 鉴于本次发行上市的发行对象仅限于符合相关条件的境外投资者及依据中 国相关法律法规有权进行境外证券投 ...

Core Viewpoint - Shouchuang Securities has submitted an application for listing on the Hong Kong Stock Exchange, with several major securities firms acting as joint sponsors [1]. Group 1: Company Overview - Shouchuang Securities is recognized for its leading value creation capabilities and outstanding asset management, focusing on differentiated financial services [3]. - The company operates a one-stop financial service platform based in Beijing, serving a diverse and steadily growing client base [3]. - According to Frost & Sullivan, from 2022 to 2024, Shouchuang Securities ranks fifth and tenth in revenue and net profit compound annual growth rates among 42 A-share listed securities firms in China [3]. Group 2: Business Segments - The company engages in four main business categories: 1. Asset Management, including asset management services, private equity funds, and public fund operations through joint ventures [4]. 2. Investment, which encompasses fixed income trading, equity securities investment, New Third Board market making, and alternative investments [4]. 3. Investment Banking, focusing on bond underwriting, stock sponsorship, and financial advisory services [4]. 4. Wealth Management, offering brokerage services, investment consulting, financial product sales, credit services, research, and futures business [4]. Group 3: Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported total revenues of approximately RMB 2.519 billion, RMB 2.970 billion, RMB 3.588 billion, and RMB 1.845 billion, respectively [5]. - The net profits for the same periods were approximately RMB 555 million, RMB 701 million, RMB 985 million, and RMB 490 million, respectively [5]. - The company has maintained robust profit growth and a scientific capital operation strategy, consistently implementing high cash dividend ratios [4].

Core Viewpoint - 首创证券 has submitted its listing application to the Hong Kong Stock Exchange, with several major securities firms acting as joint sponsors [1]. Company Overview - 首创证券 is recognized for its strong value creation and asset management capabilities, focusing on differentiated financial services. The company operates a one-stop financial service platform based in Beijing, serving a diverse and steadily growing client base [3]. - According to Frost & Sullivan, from 2022 to 2024, 首创证券 ranks fifth and tenth among 42 A-share listed securities companies in China for revenue and net profit compound annual growth rates, respectively [3]. - By 2024, the company is projected to rank first in average total asset return and seventh in adjusted weighted average net asset return among the aforementioned A-share listed companies [3]. Business Segments - The company operates in four main business areas: - **Asset Management**: Includes asset management services, private investment funds, and public fund operations through joint ventures [4]. - **Investment**: Comprises fixed income trading, equity securities investment, New Third Board market making, and alternative investments [4]. - **Investment Banking**: Encompasses bond underwriting, stock sponsorship and underwriting, and financial advisory services [4]. - **Wealth Management**: Involves securities brokerage, investment consulting, financial product sales, credit services, research services, and futures business [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported total revenues of approximately 2.519 billion, 2.970 billion, 3.588 billion, and 1.845 billion RMB, respectively. Corresponding profits for the same periods were about 555 million, 701 million, 985 million, and 490 million RMB [5]. - The breakdown of revenue sources for 2022, 2023, 2024, and the first half of 2025 includes: - Commission and fee income: 1.461 billion, 1.234 billion, 1.839 billion, and 689 million RMB [6]. - Interest income: 610 million, 577 million, 610 million, and 283 million RMB [6]. - Investment income: 447 million, 1.160 billion, 1.139 billion, and 873 million RMB [6]. - The company has maintained steady profit growth and a scientific capital operation strategy, consistently implementing high cash dividend ratios, which has led to its inclusion in influential market indices such as the CSI 300 Index and MSCI China Index [4].

Core Viewpoint - Shouchuang Securities Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with several major securities firms acting as joint sponsors [1]. Company Overview - Shouchuang Securities is recognized for its leading value creation capabilities and outstanding asset management, focusing on differentiated financial services [3]. - The company operates a one-stop financial service platform based in Beijing, serving a diverse and steadily growing client base [3]. - According to Frost & Sullivan, from 2022 to 2024, Shouchuang Securities ranks fifth and tenth among 42 A-share listed securities companies in China for revenue and net profit compound annual growth rates, respectively [3]. - In 2024, the company is projected to rank first in average total asset return on equity and seventh in weighted average net asset return among the aforementioned A-share listed companies [3]. Business Segments - The company engages in four main business categories: - **Asset Management**: Includes asset management services, private equity fund operations, and public fund operations through joint ventures [4]. - **Investment**: Comprises fixed income trading, equity securities investment, New Third Board market making, and alternative investments [4]. - **Investment Banking**: Focuses on bond underwriting, stock sponsorship and underwriting, and financial advisory services [4]. - **Wealth Management**: Encompasses securities brokerage, investment consulting, financial product sales, credit services, research services, and futures business [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported total revenues of approximately RMB 2.519 billion, RMB 2.970 billion, RMB 3.588 billion, and RMB 1.845 billion, respectively [5]. - Corresponding net profits for the same periods were approximately RMB 555 million, RMB 701 million, RMB 985 million, and RMB 490 million [5]. - The company has maintained steady profit growth and a scientific capital operation strategy, consistently implementing high cash dividend ratios to provide long-term stable returns to shareholders [4].

Core Viewpoint - Shouchuang Securities Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with several major securities firms acting as joint sponsors [1]. Company Overview - Shouchuang Securities is recognized for its leading value creation capabilities and outstanding asset management, focusing on differentiated financial services [3]. - The company operates a one-stop financial service platform based in Beijing, serving a diverse and steadily growing client base [3]. - According to Frost & Sullivan, from 2022 to 2024, Shouchuang Securities ranks fifth and tenth among 42 A-share listed securities companies in China for revenue and net profit compound annual growth rates, respectively [3]. - In 2024, the company is projected to rank first in average total asset return on equity and seventh in weighted average net asset return among the aforementioned A-share listed companies [3]. Business Segments - The company engages in four main business categories: - **Asset Management**: Includes asset management services, private equity fund operations, and public fund operations through joint ventures [4]. - **Investment**: Comprises fixed income trading, equity securities investment, New Third Board market making, and alternative investments [4]. - **Investment Banking**: Encompasses bond underwriting, stock sponsorship and underwriting, and financial advisory services [4]. - **Wealth Management**: Covers securities brokerage, investment consulting, financial product sales, credit services, research services, and futures business [4]. Financial Performance - For the six months ending June 30, 2022, 2023, 2024, and 2025, the company reported total revenues of approximately RMB 2.519 billion, RMB 2.970 billion, RMB 3.588 billion, and RMB 1.845 billion, respectively [5]. - Corresponding net profits for the same periods were approximately RMB 555 million, RMB 701 million, RMB 985 million, and RMB 490 million [5]. - The company has maintained robust profit growth and a scientific capital operation strategy, consistently implementing high cash dividend ratios to ensure long-term stable returns for shareholders [4].