Core Viewpoint - The A-share market saw a collective rise in brokerage stocks on January 14, with notable increases in several companies, indicating a positive trend in the sector [1]. Group 1: Stock Performance - Huayin Securities approached the daily limit with a rise of 9.51%, reaching a market capitalization of 55.9 billion [2]. - Xiangcai Securities increased by 5.10%, with a total market value of 34.8 billion [2]. - Bank of China Securities rose by 4.10%, bringing its market cap to 42.3 billion [2]. - Tianfeng Securities saw a gain of 2.97%, with a market value of 45.4 billion [2]. - Guosheng Securities increased by 2.68%, totaling a market capitalization of 34.1 billion [2]. - Caitong Securities rose by 2.23%, with a market cap of 42.6 billion [2]. - Huazhong Securities increased by 2.05%, reaching a market value of 34.9 billion [2]. - Jinlong Co. saw a rise of 2.00%, with a total market capitalization of 11.5 billion [2]. Group 2: Year-to-Date Performance - Huayin Securities has shown a year-to-date increase of 35.16% [2]. - Xiangcai Securities has a year-to-date rise of 9.95% [2]. - Bank of China Securities has a modest year-to-date increase of 1.53% [2]. - Tianfeng Securities has increased by 8.41% year-to-date [2]. - Guosheng Securities has a year-to-date rise of 4.63% [2]. - Caitong Securities has increased by 5.28% year-to-date [2]. - Huazhong Securities has a year-to-date increase of 9.88% [2]. - Jinlong Co. has shown a year-to-date rise of 6.32% [2].

Group 1 - The A-share market indices showed strong performance, with the Shanghai Composite Index rising by 0.93%, approaching the 4200-point mark, and the securities sector index increasing by over 1.5% [1] - Notable stocks in the securities sector included Huayin Securities, which rose by over 8%, along with Xiangcai Securities, Bank of China Securities, and Dongfang Caifu leading the gains [1] Group 2 - The Securities ETF (159841) recorded a trading volume exceeding 260 million yuan, with a turnover rate of over 2.5%, indicating active trading [2] - The Securities ETF closely tracks the CSI All Share Securities Companies Index, which includes both traditional and fintech securities leaders [2] - According to Zhongyou Securities, the average daily trading volume of A-share stock funds has stabilized at historical highs between 2.5 trillion and 3.5 trillion yuan since 2025, showing significant growth compared to the low point in 2024 [2] - The margin financing balance reached approximately 2.62 trillion yuan at the beginning of the year, marking a historical high, while the proportion of margin trading in total market transactions has not surged, indicating that the current trading increase is primarily driven by investors' own funds [2] - The combination of "ultra-low interest rates + high trading volume + rational leverage" creates a high-activity operating environment for the securities industry, supporting sustained high performance [2] - Xiangcai Securities noted that active market trading supports the recovery of securities firms' performance, with the price-to-book (PB) ratio falling to a low level not seen in nearly a decade, making the current investment in the securities sector highly cost-effective [2] - The securities industry is rated as "overweight," with recommendations to focus on internet brokers with strong beta attributes, such as Zhina Compass, and to consider Jiufang Zhituo Holdings in the Hong Kong market due to strong performance certainty amid active market trading [2]

Group 1 - The A-share market saw a collective rise in brokerage stocks, with Huayin Securities nearing the daily limit, Xiangcai Shares up over 5%, and Bank of China Securities rising over 4% [1] - Notable performers included Tianfeng Securities, Guosheng Securities, Caitong Securities, Huaxin Securities, and Jinlong Shares, all increasing by more than 2% [1] Group 2 - Huayin Securities experienced a significant increase of 9.51%, with a total market capitalization of 55.9 billion and a year-to-date increase of 35.16% [2] - Xiangcai Shares rose by 5.10%, with a market cap of 34.8 billion and a year-to-date increase of 9.95% [2] - Bank of China Securities increased by 4.10%, with a market cap of 42.3 billion and a year-to-date increase of 1.53% [2] - Other notable increases included Tianfeng Securities at 2.97%, Guosheng Securities at 2.68%, and Caitong Securities at 2.23% [2]

从基金十大重仓股角度 数据显示，中银证券旗下1只基金重仓中控技术。中银证券盈瑞混合A（011801）三季度持有股数1.93万 股，占基金净值比例为2.04%，位居第七大重仓股。根据测算，今日浮盈赚取约10.09万元。连续4天上 涨期间浮盈赚取25.55万元。 1月14日，中控技术涨8.27%，截至发稿，报68.50元/股，成交2.65亿元，换手率0.50%，总市值541.96亿 元。中控技术股价已经连续4天上涨，区间累计涨幅26.46%。 资料显示，中控技术股份有限公司位于浙江省杭州市滨江区六和路309号，成立日期1999年12月7日，上 市日期2020年11月24日，公司主营业务涉及面向流程工业为主的工业企业提供以自动化控制系统为核 心,涵盖工业软件、自动化仪表及运维服务的智能制造产品及解决方案,赋能用户提升自动化、数字化、 智能化水平,实现工业生产自动化控制和智能化管理。主营业务收入构成为：工业自动化及智能制造解 决方案58.43%，仪器仪表17.66%，S2B业务10.80%，工业软件7.62%，运维服务4.43%，其他(补 充)1.06%。 截至发稿，王文华累计任职时间11年95天，现任基金资产总规模 ...

Group 1 - Shenwan Hongyuan Securities has received approval from the China Securities Regulatory Commission (CSRC) to issue corporate bonds totaling up to 60 billion yuan, which will significantly enhance the company's capital strength and risk resistance [1] - The approval is valid for 24 months starting from January 6, 2026, allowing Shenwan Hongyuan Securities to issue the bonds in tranches, which is expected to boost market confidence in the non-bank financial sector [1] - This move signals increased financing capabilities for leading brokerages, providing support for the stable operation of the capital market [1] Group 2 - Zhongyin Securities announced the resignation of its Chief Scientist, Ge Hao, due to personal reasons, which may temporarily impact the company's financial technology strategy and smart business layout [2] - Ge Hao's departure raises concerns about the stability of high-end technical talent within the brokerage industry, potentially affecting market sentiment [2] - If Zhongyin Securities can effectively manage the transition and continue investing in technology research and development, its core competitiveness may be maintained [2] Group 3 - The first batch of public fund reports for the fourth quarter of 2025 indicates that many funds are maintaining high positions and adjusting their holdings towards technology growth sectors, particularly in robotics and AI applications [3] - This shift is expected to significantly enhance market expectations and activity for related stocks, catalyzing a revaluation in the robotics and AI application sectors [3] - As funds concentrate on emerging industries, the structural characteristics of the market are likely to become more pronounced, improving overall market risk appetite [3]

Group 1: Shanghai Pudong Development Bank - The bank reported a net profit of 50.017 billion yuan for 2025, an increase of 10.52% year-on-year [1][2] - Total operating income reached 173.964 billion yuan, reflecting a growth of 1.88% compared to the previous year [2] - The bank's total assets exceeded 1 trillion yuan, reaching 1,008.1746 billion yuan, a 6.55% increase from the previous year [3] Group 2: Dongpeng Beverage - Dongpeng Beverage expects a net profit between 4.34 billion and 4.59 billion yuan for 2025, representing a year-on-year growth of 30.46% to 37.97% [4] - The anticipated operating income is projected to be between 20.76 billion and 21.12 billion yuan, indicating a growth of 31.07% to 33.34% [4] Group 3: TCL Technology - TCL Technology forecasts a net profit of 4.21 billion to 4.55 billion yuan for 2025, marking a significant increase of 169% to 191% year-on-year [5][6] - The company expects to surpass 100 billion yuan in operating revenue, with net profit exceeding 8 billion yuan [5] Group 4: Changjiang Electric Power - Changjiang Electric Power reported a net profit of 34.167 billion yuan for 2025, a 5.14% increase year-on-year [8] - The total operating revenue for the year is expected to be 85.882 billion yuan, reflecting a growth of 1.65% [8] Group 5: China Gold - China Gold anticipates a net profit of 286 million to 368 million yuan for 2025, a decrease of 55% to 65% year-on-year [21] - The decline is attributed to market fluctuations and reduced consumer traffic [21] Group 6: LaKala - LaKala expects a net profit between 1.06 billion and 1.2 billion yuan for 2025, representing a growth of 202% to 242% year-on-year [22] - The increase is primarily due to significant investment income from stock holdings [22] Group 7: Baiwei Storage - Baiwei Storage projects a net profit of 850 million to 1 billion yuan for 2025, indicating a year-on-year increase of 427% to 520% [23] - The growth is driven by improved sales and gross margins in the AI sector [23] Group 8: Shengxin Lithium Energy - Shengxin Lithium Energy forecasts a net loss of 600 million to 850 million yuan for 2025, similar to the previous year's loss [24] - The company attributes the loss to industry supply-demand dynamics and increased exchange losses [24] Group 9: Zhongguancun Online - Zhongguancun Online expects a net loss of 580 million to 700 million yuan for 2025, a significant increase from the previous year's loss of 243 million yuan [25] - The losses are linked to increased promotional investments in overseas markets [25] Group 10: Huaxia Happiness - Huaxia Happiness anticipates a net loss of 16 billion to 24 billion yuan for 2025, a substantial increase from the previous year's loss of 4.817 billion yuan [26] - The decline is due to reduced project turnover and high financial costs [26]

Core Viewpoint - Gao He, the former Chief Scientist of Zhongyin Securities, resigned due to personal reasons and will not hold any position in the company after his resignation [1][4]. Group 1: Resignation Details - Gao He resigned from his position as Chief Scientist effective January 12, 2026, with the original term set to end at the conclusion of the second board of directors [4]. - The company confirmed that Gao's resignation will not affect its normal operations and he will complete the handover according to company regulations [5]. Group 2: Background of Gao He - Gao He was appointed as the first Chief Scientist in the securities industry by Zhongyin Securities in 2020, marking a significant innovation in the sector [6]. - He has a notable background with over 20 years of experience, including significant roles at Baidu, where he held various positions related to technology and data [6][7]. - His annual salary increased significantly over the years, making him the highest-paid executive at Zhongyin Securities, with salaries of 1.2315 million, 1.4094 million, and 2.0182 million yuan for the years 2022, 2023, and 2024 respectively [8][9]. Group 3: Role of Chief Scientist - The Chief Scientist role at Zhongyin Securities focuses on technological innovation, utilizing big data analysis and cross-disciplinary thinking to create new business opportunities [9]. - The company has been advancing its digital transformation strategy, particularly in wealth management, risk management, and digital office reforms [10].

Core Viewpoint - The resignation of Ge Hao, the Chief Scientist of Zhongyin Securities, is attributed to personal reasons, and it is stated that his departure will not affect the company's normal operations [2][5]. Group 1: Resignation Details - Ge Hao resigned from his position as Chief Scientist effective January 12, 2026, with his original term set to end at the conclusion of the second board of directors [4][5]. - After his resignation, Ge Hao will not hold any positions in the listed company or its subsidiaries, and there are no outstanding public commitments that he has failed to fulfill [5]. Group 2: Background of Ge Hao - Ge Hao was appointed as the first Chief Scientist in the securities industry by Zhongyin Securities in 2020, marking a significant innovation in the sector [6][7]. - He has a notable background with over 20 years of experience, including significant roles at Baidu, where he held various positions related to technology and data [8][10]. Group 3: Compensation and Performance - Ge Hao's annual salary increased significantly over the years, reaching 2.0182 million yuan in 2024, making him the highest-paid executive at Zhongyin Securities [10][11]. - His salary growth contrasts with the general trend of salary reductions in the financial industry during the same period [10]. Group 4: Role of Chief Scientist - The Chief Scientist role at Zhongyin Securities focuses on technological innovation, utilizing big data analysis and cross-disciplinary thinking to create new business opportunities [13]. - The company has emphasized digital transformation in areas such as wealth management, risk management, and digital office reform, with a focus on AI technology applications [13].

| 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任原因 | 是否继续在上 市公司及其控 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 股子公司任职 | 毕的公开 | | | | | | | | 承诺 | | 葛浩 | 首席科学 | 2026 年 1 | 第二届董事 | 个人原因 | 笛 | 合 | | | 家 | 月 12日 | 会届满之日 | | | | | | | | | | | 图片来源：公告截 | 北京商报讯（记者 李海媛）1月13日，中银证券公告称，董事会近日收到葛浩递交的辞呈。葛浩因个人原 因申请辞去公司首席科学家职务，辞任后将不在公司担任任何职务，离任时间为1月12日。 ...

1月13日，中银证券（601696）发布公告，葛浩因个人原因申请辞去公司首席科学家职务，辞任后将不 在公司担任任何职务。 1月13日，中银证券（601696）发布公告，葛浩因个人原因申请辞去公司首席科学家职务，辞任后将不 在公司担任任何职务。 ...