中原证券研报指出，紫光股份积极开展对新华三剩余股权的收购，基本面总体向好。公司将开启新一轮 对新华三股权的收购，同时这次收购完成后，外资将不再持有新华三股权。随着公司持有新华三比例的 增大，新华三给公司业绩贡献在持续增大。新华三当前增长动力主要来自国内政企业务和国际业务。公 司于5月开启了在港交所上市事宜，上市成功后，将有望较大缓解新华三收购带来的财务费用压力。公 司服务器业务和海外业务的加速增长，同时正在加大对新华三的持股比例和进行港股融资，整体发展形 势向好。给予对公司"增持"的投资评级。 ...

责任编辑：卢昱君 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 香港联交所最新资料显示，12月10日，易方达基金管理有限公司减持中州证券（01375）903.3万股，每 股作价2.1511港元，总金额约为1943.09万港元。减持后最新持股数目约为1.53亿股，最新持股比例为 12.78%。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 香港联交所最新资料显示，12月10日，易方达基金管理有限公司减持中州证券（01375）903.3万股，每 股作价2.1511港元，总金额约为1943.09万港元。减持后最新持股数目约为1.53亿股，最新持股比例为 12.78%。 ...

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 晨会聚焦 资料来源：Wind,中原证券 -11% -6% 0% 6% 12% 18% 24% 30% 2024.12 2025.04 2025.08 2025.12 上证指数 深证成指 | 国内市场表现 | | | | | | --- | --- | --- | --- | --- | | 指数名称 | | | 昨日收盘价 | 涨跌幅(%) | | 上证指数 | | 3,824.81 | | -1.11 | | 深证成指 | | | 12,914.67 | -1.51 | | 创业板指 | | 2,022.77 | | -0.47 | | 沪深 | 300 | 4,497.55 | | -1.20 | | 上证 | 50 | 2,443.97 | | -0.52 | | 科创 | 50 | 891.46 | | 0.14 | | 创业板 | 50 | 1,924.26 | | -0.67 | | 中证 | 100 | 4,365.14 | | -1.37 | | 中证 | 500 | 7,0 ...

格隆汇12月17日丨根据联交所最新权益披露资料显示，2025年12月10日，中州证券(01375.HK)遭易方达基金管理有限公司在场内以每股均价2.1511港元减持 903.3万股，涉资约1943.1万港元。 减持后，易方达基金管理有限公司最新持股数目为152,812,000股，持股比例由13.54%下降至12.78%。 | 股份代號: | 01375 | | --- | --- | | 上市法國名稱: | 中原證券股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 17/11/2025 - 17/12/2025 | | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法蘭 | | --- | --- | --- | --- | --- | --- | | | 股份數目 | 原因 | | | ( 請參閱上述 * 註 有投票權股 期 (日 / 月 / | | | | | | | 份自分比 年) | | | | | | | ( % ) | | CS20251215E00337 | 易方达基 ...

香港联交所最新资料显示，12月10日，易方达基金管理有限公司减持中州证券(01375)903.3万股，每股 作价2.1511港元，总金额约为1943.09万港元。减持后最新持股数目约为1.53亿股，最新持股比例为 12.78%。 ...

（原标题：易方达基金减持中州证券(01375)903.3万股 每股作价约2.15港元） 智通财经APP获悉，香港联交所最新资料显示，12月10日，易方达基金管理有限公司减持中州证券 (01375)903.3万股，每股作价2.1511港元，总金额约为1943.09万港元。减持后最新持股数目约为1.53亿 股，最新持股比例为12.78%。 ...

证券之星消息，12月15日南向资金减持50.0万股中州证券（01375.HK）。近5个交易日中，获南向资金 减持的有3天，累计净减持117.9万股。近20个交易日中，获南向资金减持的有11天，累计净减持1037.9 万股。截至目前，南向资金持有中州证券（01375.HK）7.18亿股，占公司已发行普通股的60.03%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 中原证券股份有限公司是一家从事证券经纪业务的中国公司。该公司运营八个分部。证券经纪业务分部 从事代理客户买卖股票、基金、债券等业务。自营业务分部从事权益投资、固定收益投资。投资银行业 务分部包括股权类承销与保荐业务、债券类产品承销业务等。信用业务分部向客户提供融资融券、约定 购回及股票质押等融资类业务服务。投资管理业务分部包括资产管理业务、私募基金管理业务以及另类 投资业务。期货业务分部涵盖期货经纪业务、期货交易咨询业务及风险管理业务。该公司还运营境外业 务分部和总部及其他业务分部。 ...

作为省属金融机构，中原证券立足国有企业"根""魂"职责使命，紧扣证券行业"资金密集、风险集中、交易频繁、利益关联 复杂"的行业特性，将廉洁文化建设作为全面从严治党向纵深推进的战略举措、防范化解金融风险的关键抓手、实现企业高质 量发展的重要保障，创新构建"目标引廉、教育促廉、制度固廉、监督护廉、文化育廉"五位一体工作体系，为公司稳健经营、 合规发展筑牢纪律屏障，为服务地方实体经济高质量发展注入强劲"廉动力"。 中原证券立足监督职责，将廉洁风险防控作为廉洁文化建设的重要实践载体，通过系统化举措推动廉洁理念融入日常经营 管理，切实防范廉洁风险。组织公司各部门、各分支机构、各子公司根据岗位职责、业务流程和内控制度等要求，定期全面梳 理分析本单位存在的廉洁风险点，强化底线思维。结合监督检查发现问题，对自营和投行等重点业务条线分别下发《廉洁从业 提醒函》，加强监督整改，发挥所属党支部职责，举一反三，持续加强制度建设，规范业务流程，注重和完善廉洁从业风险防 控措施。同时对选人用人及招投标等重点领域开展现场监督、专项监督，对内外招聘人员和拟提拔人员开展廉洁从业审查共计 79人次，确保权力运行公开透明、合规有序。持续优化廉洁从 ...

Market Overview - On December 15, the A-share market experienced a slight consolidation after reaching resistance, with the Shanghai Composite Index encountering resistance around 3896 points[2][3] - The Shanghai Composite Index closed at 3867.92 points, down 0.55%, while the Shenzhen Component Index fell 1.10% to 13112.09 points[7][8] - Total trading volume for both markets was 17,945 billion yuan, above the median of the past three years[3][14] Sector Performance - Strong performers included insurance, securities, food and beverage, and aerospace industries, while shipbuilding, energy metals, semiconductors, and consumer electronics lagged[3][7] - Over 50% of stocks in the two markets declined, with notable gains in insurance, commercial retail, and food and beverage sectors[7][9] Valuation Metrics - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices were 15.97 times and 49.26 times, respectively, above the median levels of the past three years, indicating a suitable environment for medium to long-term investments[3][14] Economic Outlook - The central economic work conference set a tone of "more proactive" economic policies for the upcoming year, while the Federal Reserve's interest rate cuts have led to fluctuating expectations for future easing[3][14] - The domestic economy is in a state of moderate recovery, but the foundation still needs strengthening, supporting the current upward trend in A-shares[3][14] Investment Recommendations - Investors are advised to closely monitor macroeconomic data, changes in overseas liquidity, and policy directions[3][14] - Short-term investment opportunities are suggested in aerospace, food and beverage, insurance, and securities sectors[3][14]

Core Insights - The report emphasizes the gradual recovery of the domestic economy, with A-shares showing potential for upward movement supported by favorable policies and improved liquidity [8][10][11] - The focus on green finance and support for green factory construction is highlighted as a key area for investment opportunities [4][8] - The semiconductor industry is noted for its strong growth, driven by AI demand and increasing capital expenditures from major tech firms [28][29] Domestic Market Performance - The Shanghai Composite Index closed at 3,889.35 with a slight increase of 0.41%, while the Shenzhen Component Index rose by 0.84% to 13,258.33 [3] - The average P/E ratios for the Shanghai Composite and ChiNext are at 15.91 and 48.81 respectively, indicating a suitable environment for medium to long-term investments [10][11] International Market Performance - The Dow Jones Industrial Average closed at 30,772.79, down by 0.67%, while the Nikkei 225 saw a slight increase of 0.62% to 26,643.39 [4] Financial News - The Central Financial Committee emphasized the importance of managing financial risks in local governments and real estate sectors, aiming to prevent financial crises [8] - The People's Bank of China reported a significant increase in RMB loans, totaling 15.36 trillion yuan, with social financing growth exceeding last year's total [8] Industry Analysis - The chemical industry is experiencing a slowdown in price declines, with sulfur and phosphate fertilizers performing well [16][39] - The telecommunications sector showed resilience, with a 1.44% increase in the industry index, outperforming major indices [19] - The food and beverage sector is recovering, particularly in prepared foods and liquor, although overall performance remains weak [24][25] Investment Strategies - The report suggests focusing on sectors such as electric power, telecommunications, and chemicals for potential investment opportunities [10][19][39] - Emphasis is placed on the importance of monitoring macroeconomic data and policy changes to identify structural investment opportunities [10][11][39]