华泰证券（601688）(06886)公布，华泰证券股份有限公司 2025 年面向专业投资者公开发行公司债券(第 七期)发行工作已于 2025 年 10 月 13 日结束。本期债券最终品种一发行规模为 63 亿元，票面利率为 2.06%，认购倍数为 1.34 倍;品种二发行规模为 10 亿元，票面利率为 2.20%，认购倍数为 2.24 倍。 经核查，发行人和本期债券承销机构华泰联合证券有限责任公司的共同关联方南方基金管理股份有限公 司认购 1.2 亿元，承销机构中国国际金融股份有限公司的关联方认购 1 亿元，承销机构申万宏源证券 （000562）有限公司及其关联方认购 5.8 亿元，承销机构广发证券股份有限公司认购 5.7 亿元，报价及 程序符合《发行公告》中的相关规定。 ...

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，亦包括其前身 承本公司董事會命 聯席公司秘書 張輝 本公告乃根 ...

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。 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公司債券（第七期）發行結果公告》，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 ...

2025年10月10日，发行人和主承销商在网下向专业机构投资者进行了票面利率询价。根据网下专业机构 投资者询价结果，经发行人和主承销商协商一致，最终确定本期债券品种一的票面利率为2.26%，品种 二的票面利率为2.38%。 智通财经APP讯，华泰证券(06886)发布公告，根据《华泰证券股份有限公司2025年面向专业投资者公开 发行次级债券(第四期)发行公告》，华泰证券股份有限公司2025年面向专业投资者公开发行次级债券(第 四期)(以下简称"本期债券")分为两个品种，其中品种一期限为3 年，票面利率询价区间为1.60%-2.60%; 品种二期限为5年，票面利率询价区间为 1.70%-2.70%。本期债券票面利率由发行人和主承销商根据网 下利率询价结果在利率询价区间内协商确定。 ...

2025年10月10日，发行人和主承销商在网下向专业机构投资者进行了票面利率询价。根据网下专业机构 投资者询价结果，经发行人和主承销商协商一致，最终确定本期债券品种一的票面利率为2.26%，品种 二的票面利率为2.38%。 华泰证券(06886)发布公告，根据《华泰证券股份有限公司2025年面向专业投资者公开发行次级债券(第 四期)发行公告》，华泰证券股份有限公司2025年面向专业投资者公开发行次级债券(第四期)(以下简 称"本期债券")分为两个品种，其中品种一期限为3年，票面利率询价区间为1.60%-2.60%;品种二期限为5 年，票面利率询价区间为1.70%-2.70%。本期债券票面利率由发行人和主承销商根据网下利率询价结果 在利率询价区间内协商确定。 ...

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次級債券（第四期）票面利率公告》，僅供參閱。 釋義 债券代码：243938 债券简称：25 华泰 C4 债券代码：243939 债券简称：25 华泰 C5 华泰证券股份有限公司 2025 年面向专业投资者 公开发行次级债券（第四期）票面利率公告 本公司及董事会全体成员保证公告内容不存在虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 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 ...

Market Overview - The market experienced a significant downturn last Friday, with all three major indices declining, and the Shanghai Composite Index falling nearly 1% to below 3900 points. The total trading volume in the Shanghai and Shenzhen markets was 2.52 trillion yuan, a decrease of 137.6 billion yuan compared to the previous trading day. The decline was broad-based, particularly affecting high-priced stocks in sectors such as batteries and semiconductors, with companies like Huahong Semiconductor, Yiwei Lithium Energy, and others experiencing substantial drops. Conversely, sectors like gas and coal saw gains, while semiconductors, batteries, and precious metals faced notable losses. By the end of the trading day, the Shanghai Composite Index fell by 0.94%, the Shenzhen Component Index by 2.70%, and the ChiNext Index by 4.55% [1]. Analyst Insights - **Galaxy Securities**: The firm believes that the market is unlikely to replicate the performance seen on April 7. They attribute this to a significant reduction in the expected impact of recent tariff shocks, the establishment of policy mechanisms to stabilize the market, and a focus on medium to long-term policy expectations. They also note that the recent adjustments in Chinese concept stocks are not indicative of a long-term trend reversal but rather a necessary market correction following previous gains. Short-term uncertainties in the external environment may suppress market risk appetite, leading to increased volatility and divergence among individual stocks. However, the core drivers of the current market trend remain unchanged, with liquidity expected to continue improving [2]. - **Huatai Securities**: The firm highlights that since September, major overseas storage manufacturers like SanDisk, Micron, and Samsung have announced price increases, often exceeding market expectations. In the DRAM segment, demand driven by AI for HBM and high-capacity DDR5 remains strong, leading to a steady increase in mainstream DRAM prices in Q4 2025. Micron's FY25Q4 earnings report indicated that the supply-demand relationship in the DRAM market will remain tight in 2026. In the NAND segment, strict control over production capacity, combined with HDD supply shortages and increasing enterprise-level SSD demand driven by AI applications, is expected to further optimize the supply-demand structure, with price increases in Q4 2025 likely to be greater than in Q3 2025 [3]. - **CITIC Construction Investment**: The firm notes that the Ministry of Commerce has issued multiple documents to strengthen export controls on rare earths, increasing restrictions on five categories of medium and heavy rare earths and on the export of equipment, technology, and raw materials across the entire industry chain. This move further reinforces the strategic importance of rare earths, particularly in relation to overseas military and high-end semiconductor demands [4].

Core Insights - Huatai Securities experienced a 3.57% increase in stock price on October 10, with a trading volume of 6.451 billion yuan [1] - The company reported a net financing purchase of 98.84 million yuan on the same day, with a total financing and securities balance of 7.3 billion yuan [1] - As of June 30, 2025, Huatai Securities achieved a net profit of 7.549 billion yuan, representing a year-on-year growth of 42.16% [2] Financing and Margin Trading - On October 10, Huatai Securities had a financing buy-in of 862 million yuan, with a financing balance of 7.288 billion yuan, accounting for 4.30% of its market capitalization [1] - The financing balance is above the 90th percentile of the past year, indicating a high level of activity [1] - The company also reported a securities lending repayment of 63,700 shares and a securities lending sell-out of 155,000 shares on the same day [1] Shareholder and Dividend Information - As of June 30, 2025, Huatai Securities had 210,100 shareholders, a decrease of 6.11% from the previous period [2] - The company has distributed a total of 41.539 billion yuan in dividends since its A-share listing, with 12.640 billion yuan distributed in the last three years [3] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 550 million shares, an increase of 20.3993 million shares from the previous period [3]

每经AI快讯，华泰证券发布A股策略研报称，中美谈判是慢变量，波折反复难以避免，对中期行情的弹 性和节奏有影响。短期，从股指期货、波幅指数等的表现看，市场定价或较4月更克制，后续演绎取决 于双方表态。行情进入休整期也与泛科技自身面临业绩验证，需要消化性价比不高的压力，同时其他板 块承接能力不足有关。中期看，明年A股盈利有一定向上弹性的预期难以证伪，估值类比强势行情尚处 中性，资金正循环仍有基础，因此中枢向上趋势不变。操作上，若有合适机会，可适度止盈，留出应对 空间。配置上，继续提示适度分散化，重视性价比和景气度，关注半导体设备、AI端侧、锂电材料 等。继续持有黄金，对冲中美摩擦的不确定性。 ...

Market Performance - A-shares showed mixed performance in the first two trading days after the National Day holiday, with the Shanghai Composite Index closing at 3897.03 points, up 0.37%, while the Shenzhen Component Index and the ChiNext Index fell by 1.26% and 3.86% respectively [2][3] - Over 54% of stocks rose during the week, with 47 stocks gaining over 15% and 14 stocks dropping more than 15% [2] International Market Trends - Major U.S. stock indices experienced significant declines on October 10, with the Dow Jones down 878.82 points (1.90%), the S&P 500 down 182.60 points (2.71%), and the Nasdaq down 820.20 points (3.56%) [3][5] - European stock indices also fell, with the FTSE 100 down 81.93 points (0.86%), the CAC 40 down 123.36 points (1.53%), and the DAX down 369.79 points (1.50%) [4] Commodity Prices - International oil prices saw a notable decline, with WTI crude oil falling by $2.61 to $58.90 per barrel (down 4.24%) and Brent crude down $2.49 to $62.73 per barrel (down 3.82%) [4] Regulatory Developments - The Chinese Ministry of Commerce responded to the U.S. announcement of a 100% tariff on certain Chinese exports, emphasizing that China's export control measures are a normal legal action to safeguard national security [6] - The Chinese government criticized the U.S. for its discriminatory practices and excessive use of export controls, which it claims harm legitimate business interests and disrupt international trade [6] Industry Insights - The Shanghai government announced measures to accelerate the development of industries such as silicon photonics, 6G, fourth-generation semiconductors, and brain-like intelligence [9] - The Ministry of Housing and Urban-Rural Development reported that the approved loan amount for white list projects has exceeded 7 trillion yuan, supporting the construction and delivery of commercial housing projects [10] Trust Industry Updates - Trust companies have been instructed to investigate their reverse repurchase leverage ratios and ensure compliance with regulatory limits [11] Service-Oriented Manufacturing - A new implementation plan aims to enhance the role of service-oriented manufacturing in high-quality development by 2028, focusing on key tasks such as technology innovation and standard system construction [12][13] Market Outlook - Analysts predict that the market will continue its upward trend, supported by stable inflows of capital and expected earnings growth in the third quarter [18]