证券代码：601136 证券简称：首创证券 公告编号：2025-043 首创证券股份有限公司 关于国有股份无偿划转的提示性公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 本次划转涉及的其他安排：本次划转涉及的首创集团和京投公司均为北京 市国资委控制的企业，首创证券首次公开发行并上市（2022 年 12 月 22 日上市） 距今已满一年，京投公司承诺"就在此次无偿划转交易中取得的首创证券股份， 将继续遵守北京首都创业集团有限公司在首创证券首次公开发行 A 股股票时所 作出的关于股份的流通限制和自愿锁定股份的承诺"。 本次股东权益变动系因国有股份无偿划转所致，不涉及要约收购。 本次划转不会导致公司控股股东及实际控制人发生变更。 需要提醒投资者重点关注的风险事项：本次划转能否取得上述批准尚存在 不确定性，提请投资者关注相关风险。 一、本次划转概述 （一）本次划转的基本情况 1 本公告中所涉数据的尾差系由四舍五入所致，下同。 1 本次划转的主要内容：北京首都创业集团有限公司（以下简称首创集团） 拟通过 ...

首创证券公告，北京首都创业集团有限公司计划将其持有的首创证券9742.32万股A股股份（占总股本的 3.56%）无偿划转给北京市基础设施投资有限公司。划转完成后，首创集团持股比例降至53.20%，京投 公司持股比例升至20.87%。此次划转尚需取得北京市国资委批准、上海证券交易所合规性确认及股份 登记过户等手续。 ...

10月10日，首创证券跌0.36%，成交额8.84亿元。两融数据显示，当日首创证券获融资买入额1.28亿 元，融资偿还1.52亿元，融资净买入-2440.58万元。截至10月10日，首创证券融资融券余额合计11.61亿 元。 融资方面，首创证券当日融资买入1.28亿元。当前融资余额11.59亿元，占流通市值的10.74%，融资余 额超过近一年90%分位水平，处于高位。 机构持仓方面，截止2025年6月30日，首创证券十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股2344.38万股，相比上期增加492.37万股。华泰柏瑞沪深300ETF（510300）位居第三大流 通股东，持股979.90万股，相比上期增加130.28万股。国泰中证全指证券公司ETF（512880）位居第四 大流通股东，持股845.99万股，相比上期减少81.30万股。易方达沪深300ETF（510310）位居第五大流 通股东，持股694.75万股，相比上期增加70.03万股。华宝中证全指证券公司ETF（512000）位居第六大 流通股东，持股651.72万股，相比上期减少115.12万股。华夏沪深300ETF（510330）位 ...

Core Viewpoint - The A-share market experienced a strong opening on the first trading day after the holiday, with all three major indices rising, and the Shanghai Composite Index breaking through the 3900-point mark, reaching a 10-year high [1] Group 1: Market Performance - The brokerage sector opened lower but quickly rebounded, with the top brokerage ETF (512000) seeing a 0.5% increase in price and a trading volume exceeding 1.1 billion yuan within half a day [1] - The brokerage sector is expected to show significant year-on-year growth in Q3 earnings, driven by increased market trading activity and margin financing scale [2][3] - The top brokerage ETF (512000) has attracted a net inflow of 5.383 billion yuan over the last 20 trading days, with its total scale exceeding 35 billion yuan and an average daily trading volume of over 1 billion yuan this year [3] Group 2: Individual Stock Performance - Red Tower Securities led the gains with a 7.13% increase, followed by First Entrepreneurship with over a 3% rise, and several other brokerages like Zhongtai Securities and Huachuang Yuxin also showing positive performance [4] - The brokerage ETF (512000) includes 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten leading brokerages, while the remaining 40% focuses on smaller brokerages with high earnings elasticity [5]

首创证券股份有限公司（以下简称公司）第二届董事会第十七次会议于 2025 年 9 月 25 日以书面方式发出会议通知及会议材料，于 2025 年 9 月 30 日在公司 总部会议室以现场结合通讯的方式召开。本次会议应出席董事 12 名；实际出席 董事 12 名，其中现场出席的董事 4 名，以视频方式出席的董事 8 名。 本次会议由公司董事长毕劲松主持，公司高级管理人员和其他相关人员列席 会议。本次董事会会议的召开和表决情况符合有关法律、行政法规、部门规章、 规范性文件和《首创证券股份有限公司章程》等公司规章制度的相关规定。 二、董事会会议审议情况 审议通过《关于审议公司高级管理人员 2024 年度绩效奖励发放的议案》 证券代码：601136 证券简称：首创证券 公告编号：2025-042 首创证券股份有限公司 第二届董事会第十七次会议决议公告 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。 一、董事会会议召开情况 首创证券股份有限公司 董 事 会 2025 年 10 月 1 日 1 本议案事先经公司第二届董事会薪酬与提名委员会 ...

Core Viewpoint - Midea Group achieved a net profit attributable to shareholders of 26 billion yuan in the first half of 2025, representing a year-on-year growth of 25% [1] Group 1: Business Performance - The C-end business showed steady growth, while the B-end business performed exceptionally well [1] - The company is recognized as a global leading technology group, with stable operations in ToC business and active promotion of DTC transformation and OBM penetration [1] - The B-end business is strategically positioned in high-potential and high-growth sectors, supported by dual-driven growth from domestic and international markets [1] Group 2: Shareholder Returns - The company places significant emphasis on shareholder returns, having initiated its first mid-term dividend to share development dividends [1] Group 3: Future Projections - The forecasted net profit attributable to shareholders for 2025, 2026, and 2027 is 44.4 billion yuan, 48.6 billion yuan, and 52.7 billion yuan respectively [1] - The corresponding price-to-earnings ratios based on the market value as of September 23 are projected to be 13, 12, and 11 times for the years 2025, 2026, and 2027 [1] - The report initiates coverage with a "buy" rating [1]

首创证券日前研报指出，美的集团25H1实现归母净利润260亿元，同比增长25%。C端业务稳健增长，B 端业务表现亮眼。公司是全球领先的科技集团，ToC业务经营稳健，积极推进DTC变革及OBM渗透率提 升，ToB业务布局高潜力、高成长赛道，海内外市场双轮驱动长期成长。公司重视股东回报，首次启动 中期分红分享发展红利。该行预计公司25/26/27年归母净利润为444/486/527亿元，对应9月23日市值PE 为13/12/11倍，首次覆盖，给予"买入"评级。 ...

Market Overview - On September 26, the securities sector declined by 0.36%, with Shouchuang Securities leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Individual Stock Performance - Xiangcai Co. (600095) saw a closing price of 12.68, up 4.11% with a trading volume of 1.74 million shares and a transaction value of 2.22 billion [1] - Guotou Capital (600061) closed at 7.76, up 1.97% with a trading volume of 993,400 shares [1] - Shouchuang Securities (601136) closed at 21.71, down 1.76% with a trading volume of 330,500 shares and a transaction value of 725 million [2] - Dongfang Fortune (300059) closed at 26.06, down 1.55% with a trading volume of 3.03 million shares and a transaction value of 7.97 billion [2] Capital Flow Analysis - The securities sector experienced a net outflow of 515 million from institutional investors, while retail investors saw a net inflow of 331 million [2] - Major stocks like CITIC Securities (600030) had a net inflow of 220 million from institutional investors, while Huatai Securities (601688) had a net inflow of 16.8 million [3] - The overall trend indicates a mixed sentiment among different types of investors, with institutional investors pulling back while retail investors are more active [2][3]

Core Viewpoint - The brokerage sector is experiencing a significant rally, driven by increased market activity and investor participation, leading to a positive outlook for the third quarter performance of securities firms [1][2]. Group 1: Market Activity and Performance - As of September 22, 48 out of 50 brokerage stocks closed higher, with Guosheng Financial leading with a 7.49% increase [1]. - The trading volume in A-shares has notably increased, with 15 out of 16 trading days in September exceeding 2 trillion yuan, and a peak of 3.14 trillion yuan on September 18, marking the third-highest daily volume of the year [1]. - The active trading environment is expected to boost the brokerage firms' brokerage and proprietary trading business forecasts [1]. Group 2: Financial Metrics and Growth Potential - The return on equity (ROE) for the brokerage sector is on an upward trend, as firms have passed the peak of high costs and are balancing cost reduction with long-term competitiveness [1][2]. - There is significant potential for incremental capital inflow into the market, with the current high savings rate indicating room for a shift from savings to investments [2]. - The self-operated business of brokerages is expected to see enhanced elasticity, with the low-interest-rate environment making equity markets increasingly attractive [2]. Group 3: Valuation and Long-term Outlook - The brokerage sector's valuation remains at historically low levels, despite a positive performance in the equity market since the beginning of the year [3]. - There is a clear divergence between the improvement in the brokerage sector's fundamentals and its valuation, indicating strong potential for recovery [3]. - The overall outlook for the brokerage industry is positive, supported by increased market activity, favorable regulatory policies, and accelerated long-term capital inflows [3].

Market Overview - On September 22, the securities sector rose by 1.12%, with Guosheng Jin控 leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Individual Stock Performance - Guosheng Jin控 (002670) closed at 19.94, up 7.49% with a trading volume of 1.026 million shares and a turnover of 2.009 billion yuan [1] - Shouchuang Securities (601136) closed at 22.82, up 3.26% with a trading volume of 721,000 shares and a turnover of 1.626 billion yuan [1] - Other notable performers include Xiangcai Co. (600095) up 2.40%, Huatai Securities (601688) up 1.90%, and China Galaxy (601881) up 1.74% [1] Fund Flow Analysis - The securities sector saw a net inflow of 467 million yuan from institutional investors, while retail investors experienced a net outflow of 391 million yuan [2][3] - Guosheng Jin控 had a significant net inflow of 325 million yuan from institutional investors, while retail investors showed a net outflow of 216 million yuan [3] - Other stocks with notable fund flows include Shouchuang Securities with a net inflow of 77.62 million yuan from institutional investors and a net outflow of 117 million yuan from retail investors [3]