Group 1 - Guotai Junan reported a significant increase in Q1 2025 performance, with operating revenue reaching 11.773 billion yuan, a year-on-year growth of 47.48%, and net profit attributable to shareholders soaring to 12.242 billion yuan, up 391.78% [1] - The growth in operating revenue was primarily driven by increased net investment income from financial instruments and higher net income from brokerage services [1] - The substantial rise in net profit was largely attributed to the negative goodwill generated from the acquisition of Haitong Securities, which contributed to increased non-operating income [1] Group 2 - The total scale of public funds in China remained stable at 32.22 trillion yuan as of the end of March, marking a steady performance over the past two months [2] - There was a notable increase in subscription enthusiasm for QDII and equity funds, with their shares growing by 3.57% and 1.29% respectively, indicating heightened investor confidence in overseas markets and the stock market [2] - The overall market sentiment appears to be improving, which may lead to increased capital inflow into related sectors and enhance market activity [2] Group 3 - Zhang Qiuyun has officially taken over as the chairman of Zhongyuan Securities, bringing extensive financial management experience that may influence the company's strategic direction [3] - The leadership change could have significant implications for the company's governance structure and business layout, warranting close attention from investors regarding future policy developments [3] Group 4 - Shichuang Securities plans to invest approximately 104 million yuan in purchasing an office property in Shanghai, reflecting a positive outlook on future business development [4] - Despite a year-on-year decline in revenue and net profit for Q1 2025, this acquisition may enhance the company's image and operational efficiency [4] - The move could attract attention to the brokerage sector, although ongoing performance and macroeconomic conditions should be monitored [4]

Central China Securities Co., Ltd. （2002年於中華人民共和國河南省成立的股份有限公司，中文公司名稱為「中原証券股份有限公司」， 在香港以「中州証券」名義開展業務） （股份代號：01375） 董事名單及其角色和職能 中原證券股份有限公司董事（「董事」）會（「董事會」）成員自2025年4月29日起調 整如下，即張秋雲女士由非執行董事調任執行董事，魯智禮先生由執行董事調 任非執行董事；另外，張秋雲女士自2025年4月29日擔任發展戰略委員會及風 險控制委員會主任委員，魯智禮先生繼續擔任發展戰略委員會及風險控制委 員會委員。張秋雲女士和魯智禮先生的簡歷詳情請見附件一。 執行董事 張秋雲女士 （董事長） 非執行董事 魯智禮先生 李興佳先生 唐 進先生 田聖春先生 獨立非執行董事 陳志勇先生 – 1 – 董事會下設四個董事會專門委員會。各董事於該等委員會中擔任的職位載列 如下： | | | 發展戰略 | 薪酬與提名 | 審計 | 風險控制 | | --- | --- | --- | --- | --- | --- | | | | 委員會 | 委員會 | 委員會 | 委員會 | | 張 ...

Group 1 - Central point: Zhongyuan Securities announced the appointment of Zhang Qiuyun as the new chairman effective April 29, 2025, succeeding Lu Zhilin, who will continue as a director [1] - Zhang Qiuyun has extensive experience in the financial sector, previously serving in various roles including as a director at Zhongyuan Bank and has a background in economic research and financial management [1] - Lu Zhilin was acknowledged for his contributions during his tenure, particularly in optimizing development strategies and enhancing management systems [1] Group 2 - In the 2024 annual report, Zhongyuan Securities reported revenues of 1.69 billion yuan, a year-on-year decline of 14.13%, while net profit attributable to shareholders increased by 16.18% to 246 million yuan [2] - The company's poor performance was attributed to a significant decline in proprietary trading income, which fell to -84 million yuan, a drop of 115.31% year-on-year [2] - Regulatory penalties due to compliance issues have also impacted the company's operations, including a suspension of bond underwriting services from October 17, 2024, to April 16, 2025 [2] Group 3 - The impact of regulatory measures continued into 2025, with the first quarter results showing revenues of 401 million yuan, down 37.73% year-on-year, and net profit of 103 million yuan, a decrease of 21.28% [3] - In February 2025, the company outlined its strategic focus for the year, emphasizing five key areas: wealth management, investment banking, stable self-investment, significant asset management growth, and enhanced subsidiary collaboration [3] - The company aims to strengthen compliance, risk control, technological support, resource allocation, and comprehensive management to improve operational effectiveness and achieve annual targets [3]

证券代码： 601375 证券简称： 中原证券 公告编号：2025-013 中原证券股份有限公司 第七届董事会第三十四次会议决议公告 中原证券股份有限公司（以下简称"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。 公司第七届董事会第三十四次会议于 2025 年 4 月 29 日以现场结合通讯表决 方式召开。2025 年 4 月 22 日，公司以电子邮件的形式向全体董事发出会议通知。 会议应出席董事 8 人，实际出席董事 8 人。本次会议的召集、召开及表决程序符 合《公司法》等法律、行政法规、部门规章和《公司章程》的有关规定。本次会 议由鲁智礼先生主持，审议并通过了以下议案： 一、审议通过了《关于选举张秋云为公司董事长的议案》 二、审议通过了《2025 年第一季度报告》 表决结果：同意 8 票，反对 0 票，弃权 0 票。 本议案事先经公司董事会审计委员会预审通过。 具体内容请参阅与本公告同日披露的《中原证券股份有限公司 2025 年第一 季度报告》。 三、审议通过了《关于修订<中原证券股份有限公司诚信管理办法>的议案》 表 ...

特此公告。 中原证券股份有限公司董事会 2025 年 4 月 30 日 证券代码： 601375 证券简称： 中原证券 公告编号：2025-014 中原证券股份有限公司关于董事长任职的公告 中原证券股份有限公司（以下简称"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。 根据公司第七届董事会第三十四次会议决议，张秋云女士（简历附后）自 2025 年 4 月 29 日起任公司董事长，任期至公司第七届董事会换届之日止。鲁智 礼先生不再担任公司董事长，仍继续履行董事职责。 鲁智礼先生在担任公司董事长期间，恪尽职守、勤勉尽责，积极推动公司制 定优化发展战略，加快战略实施和资源整合，开展内部管理体系改革，提升规范 化管理水平，探索公司差异化发展特色化经营路径，为公司高质量发展做出了积 极贡献。公司及公司董事会对鲁智礼先生所做的贡献表示衷心的感谢！ 张秋云，女，1972 年 2 月出生，复旦大学经济学博士，现任公司党委书记、 董事。历任开封市第一中学教师，河南省发展和改革委员会财政金融处副调研员、 副处长，河南省宏观经济研究院党支部书记 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 401,029,592.04, a decrease of 37.73% compared to CNY 643,976,990.46 in the same period last year[5] - Net profit attributable to shareholders was CNY 102,963,370.01, down 21.28% from CNY 130,790,222.34 year-on-year[5] - The net profit for Q1 2025 was CNY 101,429,971.48, a decrease of 18.3% compared to CNY 124,251,624.04 in Q1 2024[21] - Total operating income for Q1 2025 was CNY 288,245,556.64, down from CNY 512,766,469.72 in Q1 2024, indicating a significant decline of 43.8%[21] - The total comprehensive income for Q1 2025 was CNY 94,705,847.10, down 25.1% from CNY 126,432,996.92 in Q1 2024[22] - Basic and diluted earnings per share for Q1 2025 were both CNY 0.0222, a decrease from CNY 0.0282 in Q1 2024[22] Cash Flow and Liquidity - The net cash flow from operating activities increased by 50.37% to CNY 1,130,811,300.22, compared to CNY 752,016,707.44 in the previous year[5] - The net cash flow from operating activities for Q1 2025 was CNY 1,130,811,300.22, an increase of 50.5% compared to CNY 752,016,707.44 in Q1 2024[23] - The total cash and cash equivalents at the end of Q1 2025 were CNY 17,040,856,663.66, compared to CNY 13,730,862,030.87 at the end of Q1 2024, reflecting an increase of 24.4%[24] - The net cash flow from investing activities for Q1 2025 was CNY 44,776,936.21, compared to a net outflow of CNY -16,746,114.43 in Q1 2024[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 50,080,797,792.28, a decrease of 2.97% from CNY 51,614,348,080.07 at the end of the previous year[6] - Total liabilities decreased to CNY 35,703,273,591.88 as of March 31, 2025, down from CNY 37,331,529,726.77 at the end of 2024[18] - Shareholders' equity increased to CNY 14,377,524,200.40 as of March 31, 2025, compared to CNY 14,282,818,353.30 at the end of 2024[18] - The company held CNY 14,279,289,192.90 in cash and cash equivalents as of March 31, 2025, slightly down from CNY 14,400,984,039.97 at the end of 2024[17] - The company reported a decrease in client funds deposits to CNY 12,973,865,899.69 as of March 31, 2025, from CNY 12,005,245,325.90 at the end of 2024[17] - The company’s total liabilities included CNY 6,841,331,299.84 in sell-back financial assets as of March 31, 2025, an increase from CNY 5,289,084,372.35 at the end of 2024[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 125,254[12] - The top shareholder, Hong Kong Central Clearing Limited, holds 25.74% of the shares, totaling 1,195,156,550 shares[12] Other Income and Expenses - The company reported non-recurring gains of CNY 4,333,532.49 during the period[10] - Net interest income increased to CNY 94,990,373.65 in Q1 2025 from CNY 28,467,598.95 in Q1 2024, reflecting a significant growth[20] - Commission and fee income rose to CNY 225,295,645.08 in Q1 2025, up from CNY 152,861,490.42 in Q1 2024, indicating a growth of 47.3%[20] - Investment income for Q1 2025 was CNY 98,949,700.21, down from CNY 427,807,610.26 in Q1 2024, showing a decline of 76.8%[20] - The company reported a loss from fair value changes of CNY -25,517,695.25 in Q1 2025, an improvement from CNY -110,052,426.23 in Q1 2024[21] - The total operating expenses for Q1 2025 were CNY 288,245,556.64, a decrease of 43.8% from CNY 512,766,469.72 in Q1 2024[21] - The company experienced a foreign exchange gain of CNY 408,461.42 in Q1 2025, compared to a gain of CNY 271,780.40 in Q1 2024[21]

Financial Performance - Operating revenue for Q1 2025 was RMB 401,029,592.04, a decrease of 37.73% compared to RMB 643,976,990.46 in the same period last year[14] - Net profit attributable to shareholders for Q1 2025 was RMB 102,963,370.01, down 21.28% from RMB 130,790,222.34 year-on-year[14] - The company reported a decrease in basic and diluted earnings per share to RMB 0.0222, down 21.28% from RMB 0.0282 in the previous year[14] - Net profit for Q1 2025 was ¥101.43 million, down 18.3% from ¥124.25 million in Q1 2024[39] - Operating profit for Q1 2025 was ¥112.78 million, a slight decrease of 14.1% compared to ¥131.21 million in Q1 2024[38] - The total comprehensive income for Q1 2025 was ¥94.71 million, down 25.1% from ¥126.43 million in Q1 2024[39] Cash Flow - Net cash flow from operating activities increased by 50.37% to RMB 1,130,811,300.22, compared to RMB 752,016,707.44 in the previous year[14] - Cash flow from operating activities for Q1 2025 was ¥1.13 billion, an increase of 50.5% compared to ¥752.02 million in Q1 2024[41] - Cash flow from investing activities showed a net inflow of ¥44.78 million in Q1 2025, compared to a net outflow of ¥16.75 million in Q1 2024[41] - Cash flow from financing activities resulted in a net outflow of ¥3.02 billion in Q1 2025, compared to a net outflow of ¥398.21 million in Q1 2024[42] Assets and Liabilities - Total assets at the end of Q1 2025 were RMB 50,080,797,792.28, a decrease of 2.97% from RMB 51,614,348,080.07 at the end of the previous year[17] - The total liabilities decreased to RMB 35,703,273,591.88 from RMB 37,331,529,726.77, reflecting a reduction of approximately 4.36%[33] - The company's cash and cash equivalents stood at RMB 14,279,289,192.90, slightly decreasing from RMB 14,400,984,039.97, indicating a decline of about 0.84%[32] - The ending cash and cash equivalents balance is 17,040,856,663.66, an increase from 13,730,862,030.87[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 125,254, with 125,220 being A-share holders[26] - The number of shares held by the largest shareholder, Hong Kong Central Clearing Limited, is 1,195,156,550, representing 25.74% of the total shares[29] - Henan Investment Group holds 822,983,847 shares, accounting for 17.73% of the total shares, with additional holdings through subsidiaries totaling 1,023,556,847 shares, or 22.05%[30] Equity and Capital - The company recorded a net capital of RMB 9,652,971,466.55, an increase from RMB 9,468,635,644.80 at the end of the previous year[19] - The company's equity attributable to shareholders increased to RMB 14,156,474,269.20 from RMB 14,060,235,023.57, showing a growth of about 0.68%[34] - The company's total equity increased by approximately 0.66% from RMB 14,282,818,353.30 to RMB 14,377,524,200.40[34] Risk and Profitability - The risk coverage ratio improved to 350.03% from 287.40% year-on-year, indicating stronger capital adequacy[19] - The company’s weighted average return on equity decreased to 0.73% from 0.94% year-on-year, reflecting a decline in profitability[14] Other Information - Non-recurring gains and losses for the period totaled RMB 4,333,532.49, after accounting for tax effects[22] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[30] - The company will implement new accounting standards starting in 2025, which may involve adjustments to the financial statements at the beginning of that year[44] - The board of directors of Zhongyuan Securities Co., Ltd. announced this information on April 29, 2025[45]

Group 1 - The core point of the article is that Zhongyuan Securities (601375) reported a significant decline in both revenue and net profit for the first quarter of 2025 compared to the same period last year [1] Group 2 - The company's revenue for Q1 2025 was 401 million yuan, representing a year-on-year decrease of 37.73% [1] - The net profit for Q1 2025 was 103 million yuan, showing a year-on-year decline of 21.28% [1]

Core Viewpoint - The nuclear power industry in China is expected to experience significant growth, with a strong investment rating maintained by Zhongyuan Securities, highlighting the importance of nuclear power in future energy supply [1][3] Group 1: Project Approvals - On April 27, 2025, the State Council approved five nuclear power projects, totaling ten nuclear units, with China General Nuclear Power Group (CGN) and China National Nuclear Power (CNNP) being the primary beneficiaries [1] - CGN received approval for four units, including two units in Guangdong and two in Guangxi, all utilizing Hualong One technology, with capacities of 1.2 million kW and 1.208 million kW respectively [1] - CNNP was approved for two units in the Zhejiang Sanmen project, also using Hualong One technology, with a capacity of 1.215 million kW each [2] Group 2: Industry Growth and Capacity - Nuclear power is recognized as a stable energy source in China's new power system, with a utilization hour rate of 7,805.74 hours in 2024, contributing 4.73% to the national power generation [3] - The "14th Five-Year Plan" aims for a nuclear power installed capacity of approximately 70 million kW by 2025, with a focus on coastal projects [3] - As of April 27, 2025, China has approved 28 new nuclear projects since 2022, with a total of 102 operational, under construction, and approved units, making it the world's largest nuclear power capacity at 113 million kW [3] Group 3: Regional Developments - Currently, there are no nuclear projects approved or under construction in Henan Province, which is not included in the national nuclear construction plan due to cautious evaluation policies for inland nuclear development [4]