Core Viewpoint - Fangzheng Securities has agreed to sell 300 million shares of Shengjing Bank to Shengjing Jin控 for a total consideration of 435 million yuan, marking a significant asset restructuring move for the company [1][2]. Group 1: Asset Sale and Financial Impact - The sale of Shengjing Bank shares is part of a broader privatization and delisting strategy for Shengjing Bank, with the buyout price for domestic shares set at 1.2 yuan per share [2]. - Following the transaction, Fangzheng Securities will no longer hold shares in Shengjing Bank, which will enhance the company's cash flow by 435 million yuan [2]. - The transaction price is below the book value of the shares, which is expected to reduce the net profit attributable to shareholders by approximately 449 million yuan for the current fiscal year [2]. Group 2: Recent Asset Disposals - Since 2024, Fangzheng Securities has been actively disposing of non-core assets, including the sale of a 49% stake in Credit Suisse Securities [3]. - The company has also initiated the sale of distressed assets, with an initial payment of 219 million yuan received for properties in Zhengzhou [3][4]. - After completing these asset disposals, Fangzheng Securities is expected to recover over 2 billion yuan in cash [4]. Group 3: Financial Performance - In the third quarter, Fangzheng Securities reported a revenue of 3.419 billion yuan, a year-on-year increase of 99.89%, and a net profit of 1.415 billion yuan, up 130.46% [5]. - For the first three quarters, total revenue reached 9.082 billion yuan, reflecting a 67.17% increase, while net profit was 3.799 billion yuan, a 93.31% rise [5]. - The wealth management segment significantly contributed to the revenue growth, with net commission income of 4.932 billion yuan, up 69.82% [5]. - Investment income also saw a substantial increase, reaching 3.351 billion yuan, a 68.86% growth, driven by higher returns from financial instruments [6].

Group 1 - The core viewpoint of the article highlights the significant growth in revenue and net profit for the company in the third quarter of 2025, indicating strong financial performance [2] Group 2 - In the third quarter of 2025, the company achieved a revenue of 3,418,897,129.32 yuan, representing a year-on-year increase of 99.89% [2] - The net profit attributable to shareholders of the listed company was 1,415,406,203.01 yuan, showing a year-on-year growth of 130.46% [2]

Core Insights - Fangzheng Securities (601901.SH) reported a total operating revenue of 9.082 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 67.17% [1] - The net profit attributable to shareholders of the parent company reached 3.799 billion yuan, marking a year-on-year increase of 93.31% [1] - The basic earnings per share stood at 0.46 yuan [1]

Core Viewpoint - Fangzheng Securities announced the sale of 300 million shares of Shengjing Bank for a total consideration of 435 million yuan, following a comprehensive offer from Shengjing Jin控 Investment Group [3][4] Group 1: Company Actions - Fangzheng Securities will no longer hold shares in Shengjing Bank after this transaction, which is expected to reduce the net profit attributable to shareholders by approximately 449 million yuan for the current year [3] - The company reported a revenue of 9.082 billion yuan for the first three quarters, a year-on-year increase of 67.17%, and a net profit of 3.799 billion yuan, up 93.31% year-on-year [3] Group 2: Shengjing Bank Overview - Shengjing Bank, the largest city commercial bank in Northeast China, had total assets of 1.12 trillion yuan by the end of 2024, reflecting a year-on-year growth of 4% [4] - The bank's revenue has declined from a peak of 21 billion yuan in 2019 to 8.577 billion yuan in 2024, with net profit dropping significantly from a peak of 7.580 billion yuan in 2017 to 621 million yuan in 2024, a year-on-year decrease of 15.21% [5] Group 3: Market Context - Shengjing Bank's decision to delist from the Hong Kong Stock Exchange is aimed at providing shareholders with an opportunity to liquidate their investments, as the bank's stock price has decreased by 4.20% compared to a 30.05% increase in the Hang Seng Index during the same period [5] - The bank's low trading volume has severely limited its ability to raise funds through equity markets, prompting the need for a strategic shift to optimize resource allocation and focus on business development [5][6]

Core Insights - The company reported a significant increase in revenue and net profit for the third quarter and the first three quarters of the year [1] Financial Performance - Q3 revenue reached 3.419 billion, representing a year-on-year growth of 99.89% [1] - Q3 net profit was 1.415 billion, showing a year-on-year increase of 130.46% [1] - Revenue for the first three quarters totaled 9.082 billion, with a year-on-year growth of 67.17% [1] - Net profit for the first three quarters amounted to 3.799 billion, reflecting a year-on-year increase of 93.31% [1]

Core Viewpoint - Fangzheng Securities announced the sale of 300 million shares of Shengjing Bank, with a total transaction price of 435 million yuan, following Shengjing Bank's plan to delist from the Hong Kong Stock Exchange [2][6]. Group 1: Transaction Details - The sale will result in Fangzheng Securities no longer holding shares in Shengjing Bank, leading to an estimated reduction of approximately 449 million yuan in net profit attributable to shareholders for the current year [3]. - The transaction price reflects a significant premium compared to the market price prior to the suspension of trading, providing shareholders with a rare opportunity to liquidate their investments [8]. Group 2: Shengjing Bank's Financial Performance - Shengjing Bank's total assets are projected to reach 1.12 trillion yuan by the end of 2024, representing a year-on-year growth of 4% [5]. - The bank's revenue has declined from a peak of 21 billion yuan in 2019 to 8.58 billion yuan in 2024, while net profit has significantly decreased from a peak of 7.58 billion yuan in 2017, with a year-on-year decline of 15.21% expected in 2024 [7][8]. Group 3: Reasons for Delisting - Shengjing Bank's decision to delist is aimed at providing shareholders with a chance to cash out their investments, as the bank's stock price has decreased by 4.20% despite the overall market rising [7]. - The delisting is also intended to optimize resource allocation, as the bank's low trading volume has limited its ability to raise funds effectively through equity markets [8]. Group 4: Industry Implications - The "state-owned acquisition + Hong Kong delisting" model is seen as a potential pathway for struggling regional banks to address historical issues and promote reform, suggesting that more city commercial banks may follow suit, leading to further industry consolidation [9].

证券代码：601901 证券简称：方正证券 公告编号：2025-040 方正证券股份有限公司 会计政策变更公告 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： 本次会计政策变更是公司根据中华人民共和国财政部（以下简称"财政部"）相关 规定进行的变更，对公司本期及可比期间的财务报表数据无重大影响，不涉及追 溯调整。 一、本次会计政策变更概述 公司根据财政部发布的标准仓单交易相关会计处理实施问答进行会计政策变更， 并按相关要求进行会计处理及信息披露。 公司第五届董事会审计委员会第十六次会议、第五届董事会第十八次会议、第五 届监事会第十一次会议均同意本次会计政策变更，本次变更无需提交公司股东大会审 议。 二、本次会计政策变更具体情况及对公司的影响 （一）本次会计政策变更的具体情况 2025 年 7 月，财政部发布标准仓单交易相关会计处理实施问答，本次实施问答的 具体内容为：企业在期货交易场所通过频繁签订买卖标准仓单的合同以赚取差价、不 提取标准仓单对应的商品实物的，通常表明企业具有收到合同标的后在短期内将其再 次出售 ...

证券代码：601901 证券简称： 方正证券 公告编号：2025-039 方正证券股份有限公司 关于出售盛京银行股份的公告 1、交易简介 2025 年 8 月 26 日，盛京金控发出自愿有条件全面现金要约，以 1.32 港元/ 股收购盛京银行全部已发行 H 股，盛京银行撤回 H 股上市地位；以 1.20 元/股收 购盛京银行全部已发行内资股；盛京金控及其一致行动人已持有的 H 股和内资 股除外。2025 年 9 月 12 日，盛京金控对 H 股要约价格提高至 1.60 港元/股，对 内资股要约价格提高至 1.45 元/股。 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： 一、交易概述 （一）交易基本情况 根据盛京金控和盛京银行 2025 年 10 月 21 日联合发布的公告，盛京金控要 约截止时间为 2025 年 11 月 18 日。 为盘活公司资产，合理配置资源，提高资金使用效率，公司董事会同意接受 要约，出售持有的 3 亿股盛京银行内资股，交易对价合计为 43,500 万元。 1 沈阳盛京金控投资集团有限公 ...

人民财讯10月30日电，方正证券（601901）10月30日公告，沈阳盛京金控投资集团有限公司向盛京银行 全体股东发出全面要约，方正证券董事会同意接受要约，向盛京金控出售所持3亿股盛京银行内资股， 交易对价合计为43500万元。 ...

经审议，本次会议形成如下决议： 一、审议通过了《2025 年第三季度报告》 经审核，监事会认为《2025 年第三季度报告》的编制和审议程序符合《公司 法》《证券法》及公司《章程》的规定。报告格式符合中国证监会和上海证券交易 所的相关规定，报告内容真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 证券代码：601901 证券简称：方正证券 公告编号：2025-038 方正证券股份有限公司 第五届监事会第十一次会议决议公告 本公司监事会及全体监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。 公司第五届监事会第十一次会议于 2025 年 10 月 30 日以现场加视频的方式在 公司会议室召开。本次会议的通知和会议资料于 2025 年 10 月 20 日以电子邮件方 式发出，本次会议由监事会主席蔡平女士召集和主持，应出席监事 3 名，实际出 席监事 3 名（蔡平女士和徐国华先生现场参会，陈曦女士视频参会），董事会秘书 列席了会议。本次会议的召集、召开程序符合《公司法》、公司《章程》的有关规 ...