格隆汇9月26日丨根据联交所最新权益披露资料显示，2025年9月24日，华泰证券(06886.HK)遭江苏省苏豪控股集团有限公司在场内以每股均价18.88港元减 持247.6万股，涉资约4675万港元。 减持后，江苏省苏豪控股集团有限公司最新持股数目为274,243,400股，持股比例由16.10%下降至15.95%。 | 股份代號: | 06886 | | --- | --- | | 上市法國名稱: | 華泰證券股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 26/08/2025 - 26/09/2025 | | 表格序號 | 大股東/董事/最高行政人員名 作出披露的買入 / 費出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的日 相關法 | | --- | --- | --- | --- | --- | | | 부 大 | 股份數目 | | (請參閱上述*註 有投票權股期(日/月/ 份權益 | | | | | | 份自分比 年) | | | | | | 1961 | | CS20250925E00105 | 江苏省苏豪控股集团有限公 1201(L) | 2 ...

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關於為間接 全資子公司發行中期票據提供擔保的公告》，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 ...

| | 被担保人名称 | | Pioneer Reward | Limited | | --- | --- | --- | --- | --- | | | 本次担保金额 | | | 亿美元 5.00 | | 担保对象 | 实际为其提供的担保余额 | | | 40.96 亿美元 | | | 是否在前期预计额度内 | 是 | □否 | □不适用 | | | 本次担保是否有反担保 | □是 | 否 | □不适用 | 证券代码：601688 证券简称：华泰证券 公告编号：临 2025-053 华泰证券股份有限公司 关于为间接全资子公司发行中期票据提供担保的公告 本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。 重要内容提示： 担保对象及基本情况 累计担保情况 | 对外担保逾期的累计金额（人民币亿元） | | - | | --- | --- | --- | | 截至本公告日上市公司及其控股子公司对外担保总额 （人民币亿元） | | 405.92 | | 对外担保总额占上市公司最近一期经审计净资产的比例 | | | | （%） | | ...

Core Viewpoint - Hongrun Construction Group is actively engaging with institutional investors to discuss its business status and development plans, highlighting its focus on stable cash flow from infrastructure projects rather than high profit margins [1] Business Status and Profit Levels - Hongrun Construction's urban infrastructure business is primarily concentrated in the Yangtze River Delta region, maintaining stable revenue through continuous order acquisition, emphasizing cash flow stability over high profit margins [2] - The real estate sector is currently in a phase of inventory reduction, with net profit in the first half of the year declining compared to 2024 due to the impact of land value-added tax settlements [2] New Energy Business - The new energy segment has turned profitable, with a net profit of 52 million yuan in the first half of 2025, recovering from losses in 2024, driven by stable component prices and contributions from photovoltaic EPC projects [3] - The company anticipates an annual component output of 2 to 2.5 GW, primarily through ODM, with cash flow expected to balance despite potential depreciation impacts [3] - Hongrun Construction has established strong partnerships with state-owned enterprises, allowing for further expansion in the new energy sector [3] Multi-Project Investment Returns - The company is benefiting from multiple projects, including an 80 MW photovoltaic power station in Qinghai and the Hangzhou-Shaoxing-Taihu high-speed rail project, which is expected to enhance profitability as train operations increase [4] Strategic Layout - The strategic plan of Hongrun Construction is centered around "Construction + New Energy + Technology," with a focus on integrating technology into its operations [5] - The company is actively involved in the robotics sector, leveraging its experience in joint research and development of shield tunneling robots [5] Capital Structure Optimization - In response to relaxed financing policies for real estate companies, Hongrun Construction successfully raised 500 million yuan through a private placement, optimizing its capital structure and enhancing its financing capabilities [6] - The company is involved in projects like the Ningbo Zhongxing Bridge, where it holds a 70% investment share, ensuring stable returns as the project enters the government buyback phase [6]

Core Viewpoint - The brokerage sector is experiencing active trading, with significant inflows into the top brokerage ETF, indicating a potential investment opportunity despite recent market corrections [1][3]. Group 1: Market Performance - The brokerage sector has seen a cumulative decline of 8.5% in the China Securities Company Index over the past month, with the price-to-book ratio dropping to 1.53, which is at a low level compared to the past decade [3]. - The average daily trading volume and margin financing scale have been increasing, suggesting a recovery in equity financing and a positive trend in the brokerage sector's fundamentals [3]. Group 2: Fund Inflows and ETF Performance - The top brokerage ETF (512000) has recorded a net inflow of 6.972 billion yuan over the last 20 trading days, reaching a total size of 35.226 billion yuan, marking a historical high [3][4]. - The ETF has consistently attracted significant capital, with an average daily trading volume exceeding 1 billion yuan this year, positioning it as one of the leading ETFs in A-shares [3]. Group 3: Analyst Insights - Analysts from Kaiyuan Securities express optimism about strategic allocation opportunities in the brokerage sector, highlighting its high profitability and favorable valuation [4]. - Shanxi Securities notes that ongoing capital market reforms and supportive financial policies are contributing to a stable recovery in the brokerage sector, with potential for steady growth through both internal and external development strategies [5].

Core Viewpoint - Huatai Securities indicates that electronic cloth is a key enhancement material in the PCB-CCL industry chain, with trends in the AI industry driving upgrades in high-end PCBs and related upstream materials. There are three major product upgrade trends in specialty electronic cloth [1] Industry Summary - Concerns exist regarding leading companies' large-scale capacity expansion potentially worsening the supply landscape for specialty electronic cloth. However, Huatai Securities estimates that by 2025, all types of specialty electronic cloth products will be in a state of supply shortage [1] - The supply shortage for LowDK-2 and LowCTE products is expected to persist until 2026. Additionally, 2026 is anticipated to be the year of mass production for Q cloth [1] Company Summary - Companies with a comprehensive product matrix and rapid capacity expansion are recommended for attention [1]

Core Viewpoint - Huatai Securities indicates that in August, OPEC+ significantly raised the production target for September while additionally increasing the quota for the UAE. This, combined with the easing of supply concerns due to sanctions on Russia by the US and Europe, has led to a gradual decline in oil prices [1] Group 1: OPEC+ Production Adjustments - OPEC+ has continued to raise production targets for September [1] - The UAE has received an additional quota increase [1] Group 2: Market Reactions and Price Trends - Supply concerns related to sanctions on Russia are diminishing [1] - Oil prices are gradually falling as a result of these adjustments [1] Group 3: Short-term and Long-term Factors - The actual pace of OPEC+ production increases and changes in crude oil exports are important short-term factors [1] - The approaching end of the peak demand season in the Northern Hemisphere is also a significant short-term influence [1] Group 4: Investment Opportunities - Long-term oil price support is expected to remain at a low level [1] - High-dividend energy oligopolies with the ability to increase production and reduce costs, as well as growth in natural gas business, may present investment opportunities [1]

Core Insights - The ETF market in China has shown robust growth in August, with significant increases in both management scale and trading activity [1][2] - Leading brokerage firms maintain a strong competitive position in the ETF business, leveraging their established client bases and service capabilities [1][2] - Smaller brokerages are actively seeking differentiation strategies to capture market share in specific ETF segments [1][3] Market Overview - As of the end of August, the Shanghai Stock Exchange had 909 fund products with a total asset management scale of 38,024.87 billion yuan, including 736 ETFs with a total market value of 37,161.16 billion yuan, reflecting a month-on-month growth of 10.86% [1] - The Shenzhen Stock Exchange had 817 fund products with a total asset management scale of 14,522.2 billion yuan, including 531 ETFs with a total market value of 14,143.59 billion yuan, showing a month-on-month growth of 14.22% [1] Brokerage Performance - In terms of ETF trading volume, leading brokerages such as Huatai Securities, CITIC Securities, and Guotai Junan maintained their top positions with market shares of 10.91%, 10.25%, and 6.77% respectively [2] - China Galaxy topped the ETF holding scale with a market share of 23.33%, followed by Shenwan Hongyuan at 17.2% and CITIC Securities at 6.81% [2] Competitive Landscape - Smaller brokerages are focusing on specific niches and utilizing internet channels to enhance their competitiveness in the ETF market [3] - In the Shanghai market, Huabao Securities' Shanghai Dongda Ming Road branch led with a trading volume share of 5.11% in August, while other notable branches included CITIC Securities and Dongfang Securities [3] Market Support - The active development of the ETF market is supported by market makers, with 21 primary market makers and 12 general market makers providing liquidity for 785 fund products on the Shanghai Stock Exchange [4] - The chief economist of Samoyed Cloud Technology Group suggested that leading brokerages should enhance their market-making efficiency, while smaller firms could adopt differentiated strategies to focus on specific ETF segments [4]

本文作者可以追加内容哦 ! 根据《华泰证券股份有限公司2023年面向专业投资者公开发行公司债券(第六期)(品种二)(续发行)发行公 告》，华泰证券股份有限公司2023年面向专业投资者公开发行公司债券(第六期)(品种二)(续发行)(以下 简称"本期续发行债券")发行规模不超过60亿元(含60亿元)，期限为5年(2023年5月10日至2028年5月10 日)，票面利率为3.07%，债券面值为人民币100元，具体发行价格通过簿记建档确定。 格隆汇9月24日丨华泰证券(06886.HK)公告，华泰证券股份有限公司(以下简称"发行人")面向专业投资者 公开发行面值总额不超过400亿元公司债券(以下简称"本次债券")于2025年6月26日获中国证券监督管理 委员会出具的《关于同意华泰证券股份有限公司向专业投资者公开发行公司债券注册的批复》(证监许 可〔2025〕1342号)。 本期续发行债券发行工作已于2025年9月24日结束。本期续发行债券实际发行规模为51亿元，发行价格 为103.984元，认购倍数为1.50倍。追加内容 ...

格隆汇9月24日丨华泰证券(06886.HK)公告，华泰证券股份有限公司(以下简称"发行人")面向专业投资者 公开发行面值总额不超过400亿元公司债券(以下简称"本次债券")于2025年6月26日获中国证券监督管理 委员会出具的《关于同意华泰证券股份有限公司向专业投资者公开发行公司债券注册的批复》(证监许 可〔2025〕1342号)。 根据《华泰证券股份有限公司2023年面向专业投资者公开发行公司债券(第六期)(品种二)(续发行)发行公 告》，华泰证券股份有限公司2023年面向专业投资者公开发行公司债券(第六期)(品种二)(续发行)(以下 简称"本期续发行债券")发行规模不超过60亿元(含60亿元)，期限为5年(2023年5月10日至2028年5月10 日)，票面利率为3.07%，债券面值为人民币100元，具体发行价格通过簿记建档确定。 本期续发行债券发行工作已于2025年9月24日结束。本期续发行债券实际发行规模为51亿元，发行价格 为103.984元，认购倍数为1.50倍。 ...