证券代码：601136 证券简称：首创证券 公告编号：2025-041 首创证券股份有限公司（以下简称公司）于 2025 年 4 月 9 日成功发行首创 证券股份有限公司 2025 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 10 亿元，票面利率为 1.90%，期限为 162 天， 兑付日期为 2025 年 9 月 19 日。具体情况详见公司于 2025 年 4 月 11 日登载于上 海证券交易所网站（www.sse.com.cn）的《首创证券股份有限公司 2025 年度第 二期短期融资券发行结果公告》）。 2025 年 9 月 19 日 ， 公 司 兑 付 了 本 期 短 期 融 资 券 本 息 共 计 人 民 币 1,008,432,876.71 元。 特此公告。 首创证券股份有限公司 董 事 会 2025 年 9 月 20 日 首创证券股份有限公司 2025 年度第二期短期融资券兑付完成的公告 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。 1 ...

Core Viewpoint - The brokerage sector is experiencing a positive trend with increased liquidity and market activity, leading to a favorable environment for growth and performance improvement [2][3]. Group 1: Market Performance - As of September 19, 2025, the CSI All Share Securities Company Index (399975) decreased by 0.32%, with Huaxi Securities (002926) leading the gains at 2.47% [1]. - The brokerage ETF (512000) has been adjusted to a latest price of 0.59 yuan [1]. - The brokerage ETF has seen a significant increase in trading volume, with a turnover of 2.49% and a transaction value of 8.67 billion yuan [2]. Group 2: Fund Performance - The brokerage ETF's scale reached 34.886 billion yuan, marking a one-year high and ranking second among comparable funds [2]. - The ETF's shares reached 59.290 billion, also a one-year high, making it the top in terms of shares among comparable funds [2]. - Over the past 16 days, the brokerage ETF has experienced continuous net inflows, totaling 6.453 billion yuan, with a peak single-day inflow of 1.262 billion yuan [2]. Group 3: Industry Outlook - HuLong Securities suggests that the overall industry valuation and performance improvement trends are diverging, indicating strong recovery potential [3]. - The brokerage sector is benefiting from increased market activity, optimized investment ecology, and clear regulatory support for liquidity [3]. - Haitong Securities highlights that brokerage investment and brokerage services are benefiting from high market growth, with a strong recovery in investment banking and international business [3].

Group 1 - The core viewpoint of the article highlights the successful completion of Beijing's first over-the-counter bond lending business by Pudong Development Bank's Beijing branch in collaboration with Shouchao Securities, marking a significant breakthrough in the local over-the-counter bond market [1] - This initiative is expected to effectively activate the existing bond assets in the over-the-counter market and enhance the liquidity management capabilities of small and medium-sized financial institutions [1] - The People's Bank of China, Beijing branch, has been focusing on promoting the development of a multi-tiered bond market, implementing a special promotion plan for the steady expansion of over-the-counter bond business [1]

Market Overview - On September 18, the securities sector declined by 2.87%, with Guosheng Jin控 leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Individual Stock Performance - Notable declines in individual stocks include: - Zhongxin Securities (601066) closed at 26.74, up 0.30% with a trading volume of 440,500 shares and a turnover of 1.19 billion [1] - Tianfeng Securities (601162) closed at 5.66, down 0.53% with a trading volume of 7.72 million shares and a turnover of 4.37 billion [1] - Dongfang Fortune (300059) closed at 26.87, down 4.75% with a trading volume of 9.18 million shares and a turnover of 25.05 billion [2] Capital Flow Analysis - The securities sector experienced a net outflow of 16.069 billion in main funds, while retail investors saw a net inflow of 10.341 billion [2] - The main funds' net inflow and outflow for selected stocks include: - Zhongxin Securities (601066) had a net inflow of 47.04 million from main funds [3] - Tianfeng Securities (601162) saw a net inflow of 30.97 million from retail investors [3] - Dongbei Securities (000686) had a net outflow of 33.09 million from main funds [3]

Core Viewpoint - The overall performance of the brokerage sector is under pressure, with the CSI All Share Securities Company Index experiencing a decline, while the brokerage ETF shows significant inflows and growth in scale and shares [1][2][3]. Group 1: Market Performance - As of September 18, 2025, the CSI All Share Securities Company Index (399975) fell by 1.91%, with major declines seen in stocks like Great Wall Securities and Guosheng Financial Holdings [1]. - The brokerage ETF (512000) has seen a trading volume of 16.38 billion yuan, with a turnover rate of 4.78% [2]. - The brokerage ETF's net inflow over the past 15 days reached 51.91 billion yuan, averaging 3.46 billion yuan per day [2]. Group 2: Fund Performance - The brokerage ETF's latest scale reached 34.679 billion yuan, marking a one-year high and ranking second among comparable funds [2]. - The ETF's share count has also hit a one-year high at 57.169 billion shares, leading among comparable funds [2]. - Over the past year, the brokerage ETF's net value has increased by 57.23% [2]. Group 3: Industry Insights - Industry experts suggest that the return on equity (ROE) and valuations of brokerages have room for growth due to the ongoing high-quality development of China's capital markets [3]. - The concentration of the brokerage industry is expected to increase, supported by policies encouraging mergers and acquisitions among quality brokerages [3]. - Recent performance meetings of listed brokerages highlighted strong growth in the first half of the year, with a focus on mergers, refinancing, and international business developments [2][3].

(本文来自第一财经) 首创证券、长城证券跌超5%，国盛金控跌超4%，国海证券、信达证券、湘财股份、中原证券、东方财 富等纷纷走低。 ...

Group 1 - The A-share market is experiencing a decline in stock trading software companies, with Yinzhijie falling over 7% [1] - Other companies such as Zhinan Zhen, Dazhihui, and Tonghuashun have also seen declines exceeding 5% [1] - Companies like Jincai Hulian, Changcheng Securities, Wealth Trend, Guosheng Jinkong, and Shouchuang Securities have dropped more than 4% [1]

Group 1 - The securities sector experienced a collective decline on September 18, with several companies reporting significant drops in their stock prices [1] - Changcheng Securities fell over 5%, while Shouchuang Securities and Guosheng Jinkong both dropped over 4% [1] - Other companies such as Guohai Securities and Xinda Securities also saw declines in their stock prices [1]

Group 1 - The three major indices opened lower on September 18, with brokerage stocks declining in early trading. The brokerage ETF (159842) fell by 1.41% with a trading volume exceeding 100 million yuan, while only CITIC Securities saw gains, and other stocks like Great Wall Securities, Shouchao Securities, and Pacific Securities led the declines [1] - The brokerage ETF (159842) has seen a net subscription of 19 million shares as of the report, indicating strong investor interest. It has experienced continuous net inflows for 16 consecutive trading days, accumulating nearly 2.2 billion yuan [1] - As of September 17, the latest scale of the brokerage ETF (159842) reached a historical high of 6.472 billion yuan, reflecting the increasing fund inflow and the growth of the fund's circulation scale [1] Group 2 - According to Industrial Securities, the price trends of brokerage stocks are influenced by market cycles and regulatory cycles, with market beta determining trends and regulatory policies affecting strength. Current supportive regulatory policies have led to a noticeable increase in market risk appetite, which is expected to enhance trading activity and improve the outlook for the brokerage sector [2] - According to China Merchants Securities, the core capital of the capital market remains stable, and multiple funding sources still have the motivation to invest, maintaining an optimistic outlook for the equity market. It is anticipated that brokerage revenue and net profit will see double-digit growth [2]

南方财经9月18日电，证券板块集体走低，首创证券、长城证券跌超5%，国盛金控跌超4%，国海证 券、信达证券多股下挫。 ...