Core Insights - The A-share listed securities firms reported strong performance in Q3 2025, with total revenue of 418.95 billion yuan, a year-on-year increase of 16.96%, and net profit attributable to shareholders of 171.04 billion yuan, up 62.06% [1][2] Revenue and Profit Performance - Among the 42 listed securities firms, 41 achieved growth in both revenue and net profit, with 11 firms doubling their net profit [2] - CITIC Securities led the industry with a record revenue of 55.81 billion yuan, a 32.70% increase year-on-year [2][8] - Guotai Junan and Haitong Securities followed with revenues of 45.89 billion yuan and 45.89 billion yuan respectively, with Guotai Junan's revenue more than doubling [2][8] Growth Drivers - The growth in revenue was primarily driven by robust trading activity in the market, with average daily trading volume in the A-share market reaching approximately 1.65 trillion yuan, a 51.65% increase compared to the previous year [5][6] - The brokerage and investment businesses served as the main engines for revenue growth, with total commission income rising by 42.66% to 187.27 billion yuan and investment income increasing by 128.97% to 195.40 billion yuan [4][5] Performance of Smaller Firms - Smaller securities firms showed remarkable growth, with several achieving significant increases in net profit, such as Guolian Securities with a 300% increase and Huaxi Securities with a 316.89% increase [3][4] - The trend of "the rich getting richer" is evident, with larger firms maintaining their dominance while smaller firms seek differentiation strategies to enhance their performance [7] Market Outlook - Analysts believe that the securities industry is poised for further growth, with a focus on high-value wealth management and institutional business transformation [7] - The current low valuation of the sector, combined with strong performance growth, presents strategic investment opportunities in the brokerage sector [7]

Core Viewpoint - Huatai Securities (601688.SH) reported a revenue of 27.129 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 12.55% [1] - The net profit attributable to shareholders reached 12.733 billion yuan, with a year-on-year increase of 1.69% [1] - The net profit excluding non-recurring items was 12.639 billion yuan, showing a significant year-on-year growth of 100.04% [1] - Basic earnings per share stood at 1.35 yuan [1] Financial Performance - Revenue for the first three quarters: 27.129 billion yuan, up 12.55% year-on-year [1] - Net profit attributable to shareholders: 12.733 billion yuan, up 1.69% year-on-year [1] - Net profit excluding non-recurring items: 12.639 billion yuan, up 100.04% year-on-year [1] - Basic earnings per share: 1.35 yuan [1]

Core Viewpoint - The third-quarter reports of 42 A-share listed securities firms show overall positive performance in revenue and net profit, with significant year-on-year growth, indicating a robust recovery in the brokerage sector [1][3][5]. Revenue Summary - Among the listed firms, CITIC Securities leads with a revenue of 558.15 billion, followed by Guotai Junan at 458.92 billion and Huatai Securities at 271.29 billion [3]. - A total of 11 firms reported revenues exceeding 10 billion, with notable mentions including GF Securities (261.64 billion), Galaxy Securities (227.51 billion), and CICC (207.61 billion) [3][4]. - Adjusted data shows that most firms experienced year-on-year revenue growth, although Western Securities reported a decline of 2.17% [4]. Net Profit Summary - CITIC Securities also tops the net profit rankings with 231.59 billion, while Guotai Junan follows closely with 220.74 billion [5]. - A total of 29 firms reported net profits exceeding 1 billion, with 10 firms doubling their net profit year-on-year, indicating strong performance across the sector [5][6]. - The increase in net profit is attributed to improved market conditions and higher trading volumes, leading to better returns in brokerage and asset management businesses [5][6]. Market Performance and Outlook - The A-share market has shown significant growth, with major indices increasing by 18.95% to 52.36% year-to-date, and the securities sector has also performed well, with the CSI Securities Index up 7.21% [7]. - Despite the positive performance, there is a cautious outlook for the fourth quarter, with expectations of potential volatility and profit-taking among securities stocks [7][8]. - Analysts suggest that while the securities sector has the potential for continued growth, the pace may slow compared to the third quarter, with a focus on firms with strong wealth management capabilities and low valuations [8].

Group 1 - The core point of the article is that Huatai Securities is issuing a new corporate bond aimed at professional investors, with specific details regarding interest payments and rates [1] Group 2 - The bond, referred to as "23 Huatai 15," will start paying interest on November 6, 2025, for the period from November 6, 2024, to November 5, 2025 [1] - The coupon rate for this bond is set at 2.83%, and the face value for each bond is RMB 1,000, resulting in an interest payment of RMB 28.30 (including tax) per bond [1]

Core Viewpoint - Huatai Securities (06886) announced the issuance of short-term corporate bonds aimed at professional investors, with a focus on the upcoming payment schedule and interest rates [1] Group 1: Bond Issuance Details - The company will publicly issue the seventh phase of short-term corporate bonds on November 7, 2025 [1] - The bonds will pay interest from August 7, 2025, to November 6, 2025, with a face interest rate of 1.56% [1] - Each bond has a principal repayment of RMB 1,000, with an interest distribution of RMB 3.932 (including tax) [1] Group 2: Payment and Redemption Information - The principal and interest payment date is set for November 7, 2025 [1] - The bonds will be delisted on the same date as the payment [1]

Core Viewpoint - Huatai Securities (06886) announced the issuance of its 2023 public bond offering for professional investors, with specific details regarding interest payments and bond characteristics [1] Group 1: Bond Issuance Details - The company will issue the 10th phase of its corporate bonds, referred to as "23 Huatai 15," starting interest payments on November 6, 2025 [1] - The bond has a nominal interest rate of 2.83%, with a face value of RMB 1,000 per bond [1] - The interest distribution per bond is RMB 28.30, inclusive of tax [1]

Core Points - Huatai Securities (06886) announced the public issuance of short-term corporate bonds (Phase 7) aimed at professional investors, set to start interest payments on November 7, 2025 [1] - The bond, referred to as "25 Huatai S7," has a coupon rate of 1.56%, with a principal repayment of RMB 1,000 per bond and an interest distribution of RMB 3.932 (including tax) [1] - The interest accrual period for this bond is from August 7, 2025, to November 6, 2025, with the principal and interest payment date being November 7, 2025 [1]

（於中華人民共和國註冊成立之股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） （股份代號：6886） 海外監管公告 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司2023年面向 專業投資者公開發行公司債券（第十期）（品種二）2025年付息公告》，僅供參閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股份有限公司」及英文公司名稱「Huatai Securities Co., Ltd.」註冊為註冊非香港公司，其H股於 2015年6月1日在香港聯合交易所有限公司主板上市（股 票代碼：6886），其A股於2010年2月26日在上海證券交 易所上市（股票代碼：601688），其全球存託憑證於2019 年6月在倫敦證券交易所上市（證券代碼：HTSC），除文 義另有所指外，亦包括其 ...

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。 （於中華人民共和國註冊成立之股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） （股份代號：6886） 海外監管公告 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司2023年面向 專業投資者公開發行公司債券（第十期）（品種一）2025年付息公告》，僅供參閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股份有限公司」及英文公司名稱「Huatai Securities Co., Ltd.」註冊為註冊非香港公司，其H股於 2015年6月1日在香港聯合交易所有限公司主板上市 ...

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。 （於中華人民共和國註冊成立之股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） （股份代號：6886） 海外監管公告 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司2025年面向 專業投資者公開發行短期公司債券（第七期）（品種一）2025年本息兌付及摘牌公 告》，僅供參閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股份有限公司」及英文公司名稱「Huatai Securities Co., Ltd.」註冊為註冊非香港公司，其H股於 2015年6月1日在香港聯合交易所 ...