证券代码：601688 证券简称：华泰证券 公告编号：临 2025-055 华泰证券股份有限公司 关于延迟召开 2025 年第二次 H 股类别股东会的公告 特此公告。 华泰证券股份有限公司董事会 2025 年 10 月 17 日 华泰证券股份有限公司（以下简称"公司"）于 2025 年 9 月 26 日 发出通知，拟于 2025 年 10 月 17 日召开公司 2025 年第一次临时股东大 会、2025 年第二次 A 股类别股东会及 2025 年第二次 H 股类别股东会。 公司近日收到部分 H 股股东反馈，鉴于中国内地和香港国庆及中 秋公众假期，给股东所预留的投票时间较短，未能在规定的时间内参 与 H 股类别股东会投票，为保障股东权利，经公司研究决定，将原定 于 2025 年 10 月 17 日举行的 H 股类别股东会延迟至 2025 年 10 月 28 日召开。有关延迟通知详见公司于 H 股市场发出的公告。公司 2025 年 第一次临时股东大会和 2025 年第二次 A 股类别股东会的召开时间和审 议事项均不变。 公司认为，本次 H 股类别股东会的延迟召开，能有效公平保障中 小投资者利益，不会损害 A 股股 ...

Group 1 - The bond market is undergoing a "stress test" as investors shift focus to the rising A-share market, leading to significant liquidity pressure on bond funds [1][2] - Over 16 fund companies have announced adjustments to the net asset value precision of their bond funds in response to large redemptions since the National Day holiday [1][2] - The recent adjustments in the bond market are attributed to institutional asset allocation changes following the third quarter's market adjustments and potential impacts from public fund fee reform [2][3] Group 2 - As of October 16, 2023, the Shanghai Composite Index has risen by 16.84% year-to-date, while the 10-year government bond yield reached 1.8449% [1][2] - Nearly half (48%) of bond funds have experienced net value declines in the past three months, with 3566 funds reporting negative returns [3] - Pure bond funds, especially medium to long-term ones, have faced the most significant pressure, with nearly 70% of these products showing negative returns [3] Group 3 - The "stock-bond seesaw" effect is expected to continue influencing market dynamics in the fourth quarter, with a potential shift in investor preferences [4][5] - Market analysts suggest that the recent tightening of funds has been limited, and there is a possibility of a rebound in bond yields, although the overall trend remains uncertain [4][5] - Institutional behavior and the pending public fund sales regulations are critical variables that could impact the bond market's volatility in the near term [6]

Group 1 - E Fund Management Co., Ltd. increased its stake in Huatai Securities (06886) by 3.1372 million shares at an average price of HKD 20.2873 per share, totaling approximately HKD 63.6453 million [1] - After the increase, E Fund's total shareholding in Huatai Securities reached approximately 175 million shares, representing a holding ratio of 10.16% [1]

智通财经APP获悉，香港联交所最新资料显示，10月13日，易方达基金管理有限公司增持华泰证券 (06886)313.72万股，每股均价20.2873港元，总金额约为6364.53万港元。增持后最新持股数目约为1.75 亿股，最持股比例为10.16%。 ...

釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 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的股份有限公司， 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） 董事會召開日期 董事會謹此宣佈，本公司將於二零二五年十月三十日（星期四）舉行董事會會議， 其中議程包括審議及批准本公司及其附屬公司截至二零二五年九月三十日止九個 月之第三季度業績及其刊發。 承董事會命 聯席公司秘書 張輝 中國江蘇，2025年10月16日 於本公告日期，董事會成員包括執行董事張偉先生、周易先生及王瑩女士；非執 行董事丁鋒先生、陳仲揚先生、柯翔先生、晉永甫先生及張金鑫先生；以及獨立 非執行董事王建文先生、王全勝先生、彭冰先生、王兵先生及老建榮先生。 「董事會」 指 本公司之董事會 「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 ...

Core Viewpoint - The article discusses the resurgence of dividend-type critical illness insurance in China, driven by regulatory changes and market demand, which aims to provide better protection against inflation and meet diverse consumer needs [3][4][5]. Group 1: Return of Dividend-Type Critical Illness Insurance - The recent guidance from the National Financial Regulatory Administration allows for the reintroduction of dividend-type critical illness insurance after a 22-year hiatus, aiming to enhance the sustainability of long-term health insurance products [4][5][6]. - The traditional critical illness insurance has faced challenges due to fixed coverage levels being eroded by inflation, leading to a decline in sales since 2019. The introduction of dividend-type insurance is seen as a solution to these issues [5][11]. - Analysts predict that the implicit investment return rate of critical illness insurance could increase from 2% to between 2.5% and 3% following the reintroduction of dividend-type products, making them more attractive to consumers [7][11]. Group 2: Emergence of Lightweight Critical Illness Insurance - Lightweight critical illness insurance is gaining popularity, offering low-cost, short-term coverage that pays out upon diagnosis, catering to young graduates and budget-conscious families [3][9]. - This type of insurance addresses the "need for coverage but unable to afford" dilemma faced by many consumers, providing an entry-level option for those with limited financial resources [9][10]. - The combination of lightweight and dividend-type critical illness insurance products can create a complementary product line, meeting both immediate and long-term protection needs [10][12]. Group 3: Market Demand and Future Development - There is a significant untapped demand for critical illness insurance, with an estimated 400 million new policies expected to be sold from 2021 to 2024, indicating a potential market rebound as conditions improve [11][12]. - The industry is encouraged to develop a "multi-layered and combinable" product system to cater to varying consumer needs across different life stages and risk preferences [12][13]. - Technological advancements in pricing and service delivery, such as online underwriting and dynamic pricing, are anticipated to become standard practices in the future [13].

Core Viewpoint - HTSC (06886.HK) announced that it will hold a board meeting on October 30, 2025, to review and approve the third-quarter results for the nine months ending September 30, 2025 [1] Summary by Category - **Company Announcement** - The board meeting will focus on the review and approval of the company's and its subsidiaries' third-quarter performance [1]

（於中華人民共和國註冊成立的股份有限公司， 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） 董事會召開日期 董事會謹此宣佈，本公司將於二零二五年十月三十日（星期四）舉行董事會會議， 其中議程包括審議及批准本公司及其附屬公司截至二零二五年九月三十日止九個 月之第三季度業績及其刊發。 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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 承董事會命 聯席公司秘書 張輝 中國江蘇，2025年10月16日 於本公告日期，董事會成員包括執行董事張偉先生、周易先生及王瑩女士；非執 行董事丁鋒先生、陳仲揚先生、柯翔先生、晉永甫先生及張金鑫先生；以及獨立 非執行董事王建文先生、王全勝先生、彭冰先生、王兵先生及老建榮先生。 「董事會」 指 本公司之董事會 「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 ...

Group 1 - The investment forum "Capital Dialogue Across the Equator - Understanding Indonesia's Real Economy" was successfully held in Jakarta, Indonesia, led by the Indonesian sovereign fund Danantara, with Huatai Securities and BNI Securities as co-organizers [1] - The forum aimed to deepen the connectivity between the capital markets of China and Indonesia, focusing on macroeconomic trends, emerging industry opportunities, and cross-border investment strategies [1] - Liang Hong, Chair of Huatai Securities' Institutional Business Committee, delivered a keynote speech highlighting China's economic rebalancing and transformation, emphasizing the importance of technological innovation and industrial upgrading as core drivers for long-term growth [1] Group 2 - Discussions at the forum included topics such as restructuring efficiency, risk management strategies, and investment opportunities, featuring insights from representatives of Danantara and the Indonesian Ministry of Finance [2] - Huatai Securities' Chief Analyst for Energy Transition, Liu Jun, engaged in a deep dialogue with representatives from Barito Group regarding low-carbon transition routes and the collaboration paths between Chinese and Indonesian companies in energy transition [2] - Huatai Securities organized core asset research and thematic discussions for investors, covering leading companies in various sectors such as finance, food production, mining, and e-commerce in Indonesia, providing comprehensive local market insights [2]

Core Insights - The total M&A transaction value in mainland China reached $340.2 billion in the first three quarters of 2025, representing a year-on-year increase of 80.3% but a quarter-on-quarter decline of 29.9% [2] - The number of announced transactions was 3,791, which is a 10.5% increase year-on-year and a 9.3% increase quarter-on-quarter [2] Cross-Border M&A - The total value of outbound M&A from mainland China was $18.1 billion, marking a year-on-year increase of 29.6% [5] - Foreign acquisitions of mainland Chinese companies totaled $11.6 billion, a decrease of 28.2% compared to the previous year [5] - Domestic M&A transactions dominated with a scale of $300.5 billion, showing a significant year-on-year growth of 106.3% [5] Industry Distribution - The financial sector led the M&A market in mainland China with a market share of 25.7% and a total transaction value of $87.4 billion, reflecting a year-on-year increase of 270.2% [8] - The energy and power sector held a market share of 17.5%, with a year-on-year growth of 193.4% [8] - The high-tech sector followed closely with a market share of 16.1% ($54.9 billion), experiencing a year-on-year increase of 108% [8] Financial Advisor Rankings - CICC ranked first among financial advisors with a market share of 16.1% (involved in transactions worth $54.8 billion) in the first three quarters of 2025 [11] - CITIC Securities held the second position with a market share of 15.1%, while Goldman Sachs ranked third with a market share of 12.2% [11] - In terms of transaction volume, CICC, ICBC, and CITIC Securities were the top three [11] Legal Advisor Rankings - The top three law firms by transaction value in the first three quarters of 2025 were Yingke Law Firm, King & Wood Mallesons, and JY Law Firm [13] - In terms of transaction volume, Fangda Partners, King & Wood Mallesons, and JunHe Law Firm led the rankings [13]