Group 1 - The A-share major indices strengthened, with the ChiNext Index rising over 2%, the Shanghai Composite Index increasing by 0.70%, and the Shenzhen Component Index up by 1.38% [1] - Sectors such as cultural media, consumer electronics, liquid cooling, and gaming saw significant gains, with nearly 4,200 stocks in the Shanghai, Shenzhen, and Beijing markets rising [1] Group 2 - Notable stock performances include: - Changcheng Securities (002939) with a rise of 10.03% and a total market value of 53.5 billion - Xibu Securities (002673) increasing by 7.55% with a market value of 43.3 billion - Xiangcai Shares (600095) up by 4.84% and a market value of 35.3 billion - Tianfeng Securities (601162) rising by 4.33% with a market value of 58.6 billion - Hatao Shares (600864) increasing by 2.99% with a market value of 15.8 billion - Guolian Minsheng (601456) up by 2.43% with a market value of 69.4 billion, but down 9.13% year-to-date - Guohui Securities (600109) rising by 2.40% with a market value of 37.9 billion - Guohai Securities (000750) increasing by 2.22% with a market value of 29.4 billion [2]

Group 1 - A-shares brokerage stocks experienced a collective rise, with Changcheng Securities hitting the daily limit of 10% for four consecutive trading days [1][2] - Western Securities increased by over 7%, while Xiangcai Securities and Tianfeng Securities rose by over 4% [1] - Other notable increases include Hatou Securities, Guolian Minsheng, Guojin Securities, and Guohai Securities, all rising by over 2% [1] Group 2 - Changcheng Securities reported a market capitalization of 53.5 billion and a year-to-date increase of 63.48% [2] - Western Securities has a market capitalization of 43.3 billion with a year-to-date increase of 20.34% [2] - Xiangcai Securities has a market capitalization of 35.3 billion and a year-to-date increase of 71.53% [2] - Tianfeng Securities has a market capitalization of 58.6 billion with a year-to-date increase of 29.02% [2] - Hatou Securities has a market capitalization of 15.8 billion with a year-to-date increase of 4.12% [2] - Guolian Minsheng has a market capitalization of 69.4 billion but a year-to-date decrease of 9.13% [2] - Guojin Securities has a market capitalization of 37.9 billion with a year-to-date increase of 18.62% [2] - Guohai Securities has a market capitalization of 29.4 billion with a year-to-date increase of 8.58% [2]

Market Overview - US stock market showed mixed performance last Friday, with economic data presenting a varied outlook and market sentiment being cautious ahead of the US-Russia leaders' meeting [2] - The three major indices closed with differing results, while the US dollar declined and the yield on the 10-year Treasury note rose to 4.32% [2] Asian Market Performance - The Hang Seng Index opened higher today, up 0.09% at 25,293.34 points, while the Hang Seng Tech Index increased by 0.40% and the National Enterprises Index rose by 0.21% [2][3] - In the market, tech stocks showed mixed results, with Bilibili rising over 2%, JD.com and Baidu up over 1%, while Lenovo fell nearly 1% [2] - Chinese stocks generally saw gains, with Guolian Minsheng rising over 2% [2] - The innovative drug sector opened mostly higher, with Hansoh Pharmaceutical increasing over 2% [2] - Gold stocks were active, with China Gold International rising over 1% [2] - Some automotive stocks also saw increases, with NIO rising over 5% [2]

Core Viewpoint - The A-share market has seen significant gains recently, particularly in the brokerage sector, which has become a strong market indicator, with the Wind brokerage index rising over 10 percentage points in the last 20 trading days [1][5]. Brokerage Sector Performance - Multiple brokerages are distributing dividends for the 2024 fiscal year, including major firms like Zheshang Securities, Bank of China Securities, Huatai Securities, and others, indicating a trend of increased dividend payouts [1][5]. - The total cash dividends for listed brokerages in 2024 exceed 55 billion, marking an increase of over 10 billion compared to the previous year, setting a historical high [5][6]. Dividend Trends - The new "National Nine Articles" and cash dividend regulations have led to a trend of "multiple dividends per year" among brokerages, with an increase in both frequency and total dividend amounts [5][6]. - Leading brokerages such as Guotai Junan, Huatai Securities, and Citic Securities have reported dividend totals exceeding 3 billion, ranking them among the top in the industry [5][6]. Dividend Payout Ratios - Smaller brokerages like Hongta Securities and Southwest Securities have high dividend payout ratios, with figures reaching 92.6% and 80.76% respectively, indicating a strong commitment to returning profits to shareholders [6][7]. - The new regulations emphasize the importance of cash dividends, with measures in place to encourage companies with low or no dividends to improve their payout policies [6][7]. Strategic Shifts in the Brokerage Industry - The brokerage industry is shifting focus from expansion to enhancing quality and returns, with an emphasis on sustainable profitability and stable dividends [6][7]. - The increase in wealth management and light capital business has contributed to a more stable income base for brokerages, allowing for consistent dividend distributions [7].

北京商报讯（记者 郝彦）8月15日，中国证监会发布关于国联民生证券申请上市证券做市业务资格反馈意见。具体来看，中国证监会要求国联民生证券在30 个工作日内逐项落实下列问题并提供书面回复和电子文档。 中国证监会指出，《证券公司股权管理规定》第十条规定，证券公司从事的业务具有显著杠杆性质，且多项业务之间存在交叉风险的，其控股股东还应 当"最近3年持续盈利，不存在未弥补亏损；最近3年长期信用均保持在高水平，最近3年规模、收入、利润、市场占有率等指标居于行业前列；核心主业突 出，主营业务最近5年持续盈利"。请国联民生证券补充控股股东无锡市国联发展（集团）有限公司（以下简称"国联集团"）2020年至2024年审计报告（合并 口径）、2022年和2024年相关指标行业排名情况、2024年长期信用评级（包括评级展望），并就国联集团是否符合上述条件进行论证。 同时，中国证监会要求国联民生证券补充说明北交所做市和上市基金做市业务的研究支持安排。对公司上市证券做市业务实施方案中的部分不一致的情况以 及"投资决策委员会"和"证券投资决策委员会"是否为同一机构进行说明，并同步更新申请材料相关内容。 此外，中国证监会要求公司就上市证券 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 董事會會議通知 國聯民生證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將 於2025年8月28日（星期四）舉行，藉以（其中包括）審議及批准本公司及其附屬公司截 至2025年6月30日止六個月之中期業績及其發佈。 承董事會命 國聯民生證券股份有限公司 顧偉 中國江蘇省無錫市 2025年8月15日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 朱賀華先生、高偉先生及郭春明先生。 董事長 ...

Core Viewpoint - The Chinese ship leasing industry is experiencing steady growth, with an increase in global market share, driven by green transformation and the replacement of aging vessels, despite a slowdown in new orders and deliveries [1][2]. Group 1: Current Market Status - In the first half of 2025, China's ship completion volume reached 24.13 million deadweight tons, a year-on-year decrease of 3.5%, while new orders amounted to 44.33 million deadweight tons, capturing 68.3% of the global market share [1]. - As of June 2025, the total tonnage of China's operating leasing fleet reached 159 million tons, an increase of 4.55% from the beginning of the year, with a total of 21 million tons in hand orders, up 9.42% [1]. - The global share of China's leasing fleet stands at 9.30%, reflecting a 0.2 percentage point increase from the end of 2024, primarily driven by bulk carriers and gas carriers [1]. Group 2: New Orders and Deliveries - In the first half of 2025, the new ship leasing tonnage added by Chinese leasing companies was 9.4 million tons, only 35.7% of the total increase for 2024, mainly impacted by the "301 investigation" [2]. - Among the new ships, the proportion of new and second-hand vessels was 39% and 61%, respectively, with second-hand vessels increasing by 8.8 percentage points compared to 2024 [2]. - The share of operating leases in new ship deliveries rose, with financing leases and operating leases accounting for 71.7% and 28.3% of new deliveries, respectively, the latter up by 11.6 percentage points from 2024 [2]. - The total tonnage of vessels reaching maturity in the first half of 2025 was 5.4 million tons, only 30.34% of the total maturity scale for 2024 [2]. Group 3: Green Transformation - By June 2025, the proportion of energy-efficient vessels in China's leasing fleet reached 80%, an increase of 1 percentage point from the end of 2024 [3]. - The share of energy-efficient vessels in tankers and cruise/passenger ships saw significant increases, reaching 77% and 90%, respectively, with increases of 3 percentage points and 5 percentage points from 2024 [3]. - Globally, the share of energy-efficient vessels in the fleet was 51% as of June 2025, reflecting a 1 percentage point increase from the end of 2024, with slight increases across various vessel types [3]. Group 4: Age of Vessels - As of the first half of 2025, vessels aged 15 years and older accounted for 10.1% of the total tonnage, an increase of 1.5 percentage points from the end of 2024 [4]. - The shares of vessels aged 0-4 years and 5-9 years were 44.7% and 25.5%, respectively, showing decreases of 0.9 percentage points and 0.6 percentage points from 2024 [4]. - In the first half of 2025, 18.2% of newly added financing lease vessels were aged 15 years and older, up 7.3 percentage points from the end of 2024, while 7.7% of newly added operating lease vessels were in the same age category, which was negligible in 2024 [4].

Market Overview - The Hong Kong stock market continued its downward trend, with all three major indices in the red but maintaining above the 25,000 mark. The Hang Seng Index closed down 0.98% at 25,270.07 points, with a total turnover of HKD 31.27 billion [1] - Short-term market focus is on mid-year performance and cost-effectiveness, with potential volatility from US-China trade negotiations and fluctuations in US stocks [1] Blue-Chip Stocks Performance - JD Health (06618) led blue-chip stocks, rising 11.67% to HKD 61.25, contributing 11.31 points to the Hang Seng Index. The company's H1 2025 performance exceeded market expectations due to strong growth in the pharmaceutical category [2][4] - Other notable blue-chip movements included Xinyi Solar (00968) up 5.96%, Alibaba Health (00241) up 4.92%, while New World Development (00016) and Henderson Land (00012) saw declines of 5.35% and 4.63% respectively [2] Sector Highlights - Internet healthcare stocks showed strong performance, with Dingdang Health (09886) up 36.07% and JD Health (06618) up 11.67% following strong mid-year results [3][4] - The brokerage sector saw significant gains, with CITIC Securities (06066) up 10.98% and Zhongtai Securities (01375) up 9.03%, reflecting a structural shift in fund flows towards financial markets [5][6] - The photovoltaic sector also experienced gains, driven by a shortage and price increases in solar components, with Xinyi Solar (00968) rising 8.15% [6][7] Regulatory Developments - The Hong Kong Monetary Authority and the Securities and Futures Commission issued a joint statement regarding recent market fluctuations related to stablecoins, emphasizing a cautious approach to licensing [8] Notable Stock Movements - Silver诺医药-B (02591) surged 206.48% on its debut, reflecting strong market interest in GLP-1 drug treatments [9] - Liken Technology (00558) rose 46.02% following a strategic partnership for magnesium alloy humanoid robot development [10] - Far East China (02789) saw an 84.34% increase after announcing a profit forecast for H1 2025, driven by international market orders [11][12] - Jin Hai Medical Technology (02225) fell 50.56% after announcing a share subscription at a discount to market price [13]

Group 1 - The core point of the article is the leadership change at Guolian Minsheng Securities, with Ge Xiaobo stepping down as the legal representative and chairman, replaced by Gu Wei, while Ge remains a director and manager [1] - Guolian Minsheng Securities Co., Ltd. was established in January 1999 with a registered capital of approximately 5.68 billion RMB [1] - The company's business scope includes securities operations, securities investment consulting, and public securities investment fund sales [1] Group 2 - The shareholder information indicates that the company is jointly held by Wuxi Guolian Development (Group) Co., Ltd., Hong Kong Central Clearing (Agent) Co., Ltd., and Guolian Trust Co., Ltd. [1]

Core Viewpoint - The announcement details the addition of new sales platforms for various funds managed by Invesco Great Wall Fund Management Co., Ltd., effective from August 15, 2025, to better meet investor needs [5][9][14]. Group 1: New Sales Platforms - The company has signed a sales agreement with Guolian Minsheng Securities Co., Ltd. to sell the Invesco Great Wall Jing Tai Pure Profit Bond Fund [1]. - The company has also partnered with Industrial Bank Co., Ltd. to sell the Invesco Great Wall Stable Gain Bond Fund through its "Institutional Investment Trading Platform" [5]. - Additionally, Nanjing Bank has been added as a sales institution for the Invesco Great Wall Anheng Gain Three-Month Holding Period Mixed Fund of Funds (FOF) [9]. Group 2: Sales Institution Information - Guolian Minsheng Securities is located at 8 Financial First Street, Wuxi, with a customer service phone number of 95570 [1]. - Industrial Bank's sales platform is accessible via customer service at 95561, with a website at www.cib.com.cn [5]. - Nanjing Bank's contact information includes a customer service phone number of 95302 and a website at http://www.njcb.com.cn [10]. Group 3: Business Operations - Subscription and redemption services are only available during normal subscription periods and specific open days, with details outlined in the respective fund's legal documents [2][6][14]. - The "Regular Investment Plan" allows investors to set up automatic deductions for fund purchases, with specific rules governed by the sales institutions [2][15]. - Fund conversion services are subject to the availability of redeemable and purchasable statuses, with additional rules provided in the company's announcements [3][7][15].