方正证券股份有限公司控股子公司管理制度 （2019 年 12 月 27 日公司第四届董事会第一次会议制定，2022 年 8 月 22 日公 司第四届董事会第二十三次会议第一次修订， 2022 年 12 月 23 日公司第四届董事 会第二十六次会议第二次修订，2025 年 4 月 29 日公司第五届董事会第十三次会议 第三次修订。） 第一章 总则 第一条 为规范方正证券股份有限公司（下称"公司"）与控股子公司的关系， 加强对控股子公司的管理，维护公司及投资者的合法权益，根据《中华人民共和国 公司法》《中华人民共和国证券法》《证券公司监督管理条例》《证券公司设立子 公司试行规定》《证券公司和证券投资基金管理公司境外设立、收购、参股经营机 构管理办法》等法律法规、监管规定及公司《章程》等相关规定，结合公司实际及 公司制定的整体发展战略与规划，特制定本制度。 第二条 本制度所称控股子公司是指公司持有其50%以上股权，或者公司持有其 股权的比例虽然不足50%，但依据公司所享有的表决权已足以对股东会产生重大影响， 或者公司通过投资关系、协议或者其他安排，能够实际控制的公司。 第三条 控股子公司应当逐层建立对其下属子公司的 ...

三、分红送配方案情况 本次公司不分配不转赠。 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 533705.68万股，累计占流通股比： 64.82%，较上期变化： -2588.16万股。 | 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 新方正控股发展有限责任公司 | 236323.70 | 28.71 | 不变 | | 全国社会保障基金理事会 | 108970.48 | 13.24 | 不变 | | 中国信达资产管理股份有限公司 | 59305.00 | 7.20 | 不变 | | 香港中央结算有限公司 | 56910.93 | 6.91 | -3359.96 | | 哈尔滨哈投投资股份有限公司 | 19755.70 | 2.40 | 不变 | | 中国证券金融股份有限公司 | 13946.13 | 1.69 | 不变 | | 中央汇金资产管理有限责任公司 | 13577.58 | 1.65 | 不变 | | 乐山国有资产投资运营(集团)有限公司 | 8425.54 | 1.02 | 不变 | | 国泰中证 ...

证券代码：601901 证券简称：方正证券 公告编号：2025-016 方正证券股份有限公司 第五届监事会第九次会议决议公告 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九次会议于 2025 年 4 月 29 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 4 月 18 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（蔡平女士现场参会，陈曦女士和徐国华先生视频参会），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》的有关规定。 经审议，本次会议形成如下决议： 一、审议通过了《2025 年第一季度报告》 经审核，监事会认为《2025 年第一季度报告》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。 表决 ...

方正证券股份有限公司 第五届董事会第十三次会议决议公告 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。 证券代码：601901 证券简称：方正证券 公告编号：2025-015 公司第五届董事会第十三次会议于 2025 年 4 月 29 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 4 月 18 日以电子邮件方式发出。 本次会议由董事长施华先生召集和主持，应出席董事 9 名，实际出席董事 9 名（施华 先生、何亚刚先生、李岩先生、宋洪军先生、张路先生、曹诗男女士、林钟高先生、 柯荣富先生视频参会，张忠民女士现场参会），公司 3 名监事和部分高级管理人员列席 了会议。本次会议的召集、召开程序符合《公司法》、公司《章程》的有关规定。 经审议，本次会议形成如下决议： 一、审议通过了《2025 年第一季度报告》 《2025 年第一季度报告》与本公告同日刊登在《中国证券报》《上海证券报》《证 券时报》《证券日报》和上海证券交易所网站（www.sse.com.cn）。 此项议案已经董事会审计委员会事前审议 ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥2,964,282,363.70, representing a 49.35% increase compared to ¥1,984,787,239.23 in the same period last year[5] - Net profit attributable to shareholders was ¥1,195,070,571.69, up 52.37% from ¥784,306,322.29 year-on-year[5] - The net profit excluding non-recurring gains and losses increased by 55.32%, amounting to ¥1,187,104,893.81 compared to ¥764,284,012.68 in the previous year[5] - Basic and diluted earnings per share both rose to ¥0.15, reflecting a 50.00% increase from ¥0.10 in the prior year[5] - The company reported a total profit of ¥1,391,787,602.39 for Q1 2025, compared to ¥854,268,823.78 in Q1 2024[18] - Net profit for Q1 2025 was ¥1,178,667,718.28, up 51.8% from ¥775,886,325.56 in Q1 2024[19] - The net profit for Q1 2025 was CNY 1,157,828,948.24, an increase from CNY 797,034,685.12 in Q1 2024, representing a growth of approximately 45.2%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥252,055,730,688.29, a decrease of 1.40% from ¥255,627,897,461.61 at the end of the previous year[6] - Total assets as of March 31, 2025, amounted to ¥231,888,702,595.02, a decrease from ¥236,734,021,249.65 at the end of 2024[25] - Total liabilities decreased slightly to ¥202,566,615,399.23 from ¥206,650,219,530.49 year-over-year[15] - Total liabilities decreased to ¥183,207,393,549.49 as of March 31, 2025, down from ¥188,546,164,126.08 at the end of 2024[25] - The total liabilities include short-term financing payables of ¥16,735,089,901.29, up from ¥15,796,854,604.20[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 207,553[11] - The largest shareholder, New Fangzheng Holdings Development Co., Ltd., holds 2,363,237,014 shares, accounting for 28.71% of total shares[11] - The second-largest shareholder, National Social Security Fund Council, holds 1,089,704,789 shares, representing 13.24%[11] - The company has no significant changes in the top 10 shareholders or their shareholding status[12] Income and Expenses - The company experienced a 39.84% increase in operating expenses, correlating with the rise in operating revenue[9] - Total operating expenses for Q1 2025 amounted to CNY 1,363,168,592.76, compared to CNY 913,705,364.69 in Q1 2024, reflecting an increase of about 49.2%[27] Cash Flow - Net cash flow from operating activities for Q1 2025 was -¥1,136,900,430.96, an improvement compared to -¥5,823,832,416.85 in Q1 2024[22] - Cash and cash equivalents at the end of Q1 2025 totaled ¥71,538,213,133.29, compared to ¥57,440,544,634.43 at the end of Q1 2024, indicating a net increase of ¥764,348,209.18[22] - The net cash flow from investment activities for Q1 2025 was ¥98,121,452.97, a recovery from -¥13,391,465.45 in Q1 2024[22] - The company generated CNY 20,300,758,825.29 in cash from operating activities related to other business in Q1 2025, significantly higher than CNY 5,547,284,550.33 in Q1 2024[30] - The cash inflow from financing activities in Q1 2025 was CNY 6,563,860,000.00, down from CNY 9,518,310,000.00 in Q1 2024[31] Investment and Trading - The company reported a significant increase in investment and trading business income, contributing to the overall profit growth[9] - Trading financial assets increased to ¥72,300,575,807.43 from ¥59,050,545,009.66[14] - The company’s financial investments in trading assets rose to ¥65,575,540,291.80 as of March 31, 2025, from ¥52,620,769,671.66 at the end of 2024[24] Other Comprehensive Income - Other comprehensive income after tax for Q1 2025 was -¥666,168,724.49, compared to ¥170,223,106.29 in Q1 2024[19] - The company reported a decrease in other comprehensive income, with a net loss of CNY 665,915,363.71 in Q1 2025 compared to a gain of CNY 170,217,060.48 in Q1 2024[27]

登录新浪财经APP 搜索【信披】查看更多考评等级 浙江金盾风机股份有限公司于4月25日发布公告，持股5%以上股东方正证券－西藏信托－浦顺5号集合 资金信托计划－方正证券赢策316号定向资产管理计划（简称"方正证券"）及特定股东深圳市高新投集 团有限公司（简称"高新投"）披露减持计划。 方正证券拟减持不超3%股份 公告显示，方正证券持有浙江金盾风机股份24,734,800股，占公司总股本比例6.08%。因实际资金方资 金需求，其计划于公告之日起15个交易日后的三个月内（即2025年5月22日至2025年8月21日），以大宗 交易和集中竞价相结合的方式减持公司股份不超过12,195,600股，占公司总股本比例3%。 高新投拟集中竞价减持不超1%股份 其中，集中竞价交易减持不超过4,065,200股，占公司总股本比例1%；大宗交易方式减持不超过 8,130,400股，占公司总股本比例2%。减持价格将根据减持时市场价格确定，且不低于首次公开发行的 发行价。其股份来源为执行法院裁定取得公司首次公开发行股票上市前持有的股份。 根据相关规定，司法拍卖属于司法强制执行，原股东周建灿对股份做出的相关承诺由上述股东继续遵 守。截 ...

Group 1 - The EU electric vehicle market is expected to open clear growth opportunities for Chinese automakers as the removal of tariffs is anticipated [1][3] - Chinese brands have significant potential for increased penetration in the EU market, with 2024 exports projected to account for 13.5% of total domestic passenger car exports [1][2] - The concentration of sales among Chinese brands in the EU is notable, with SAIC and BYD being the leading players, holding 65.9% and 15.7% market shares respectively [2] Group 2 - The EU has agreed to replace tariffs on Chinese electric vehicles with a minimum price mechanism, which is expected to support the pricing strategy of Chinese brands [3] - The minimum price mechanism is likely to elevate the pricing of some key models from Chinese brands, which currently have competitive pricing below €30,000 [2][3] - The market share of Chinese electric vehicles in the EU remains low, with less than 5% in various countries, indicating substantial room for growth as local production and market entry strategies develop [1][2]

2025年1-2月水电发电量同比提升4.5%，其中发电大省四川和云南分别同比提升3.7%和17.0%。根据四 川省水文水资源勘测中心与长江水利网统计，四川江河流域来水情况较好，且长江流域蓄水偏高。从发 电量上看，2025年Q1长江电力、华能水电、桂冠电力等多个水电企业发电量同比提升;从电价上看，尽 管2025年各地长协电价整体下行，但四川等水电大省的交易均价则略有提升，量价齐升或进一步提升相 关区域水电企业盈利。此外，水电盈利的稳健性较强且分红比例高，股息率较长期国债收益率仍有显著 优势。 火电：量价成本三重下滑，多空博弈激烈 电价端看，2024年底开始，各省陆续启动新一年长协电价的谈判与签约，截至目前多省长协签约结果已 经落地，其中广东、江苏、浙江等地的长协电价下跌明显，而安徽、上海、河北等缺电省份电价降幅较 小。电量端看，2025年1-2月全国发电量整体下滑，其中辽宁、黑龙江、浙江、重庆、四川等省份实现 了逆势增长。成本端看，2024年Q4以来煤炭价格快速下跌，2025年Q1跌势延续但3月底起跌速放缓，底 部或逐渐企稳。该行认为，火电企业机组地域分布上的差异将导致量价影响不同，其中机组多位于电价 跌幅小或 ...

出栏体重 该行测算，重点猪企三月生猪出栏均重环比约+2.6%。3月，8家重点上市猪企生猪出栏均重约124.9kg/ 头，环比明显增长，达到历史高位。其中，仅正邦科技(-1.0%)、金新农(-0.5%)出栏均重小幅下调，重 点猪企出栏均重基本在120kg以上。该行认为，受标肥价差影响，上市猪企为优化头均盈利水平，普遍 采取增重出栏措施。 销售均价：重点上市猪企三月商品猪销售均价环比小幅上涨 方正证券发布研报称，1、2月企业生产受假期及短月影响整体出栏量有所下降，3月各企业基本恢复正 常生产经营出栏量环比增长明显。此外，该行认为，受标肥价差影响，上市猪企为优化头均盈利水平， 普遍采取增重出栏措施。重点上市猪企三月商品猪销售均价环比小幅上涨。生猪板块在低猪价预期，低 板块预期下估值仍在底部。看好对猪价悲观预期的修正所带来板块股价的估值修复，以及消费提振下的 板块估值修复。 方正证券主要观点如下： 出栏量：3月重点上市猪企整体出栏量环比显著增长 根据上市猪企三月生猪销售简报，13家上市猪企3月共出栏生猪1521.7万头，环比+23.9%。除中粮家佳 康(-9.9%)、天康生物（002100）(-1.2%)环比小幅下降 ...

Core Insights - The number of brokerage apps with over 1 million monthly active users reached 25, showing a positive month-on-month growth with an average increase of 3.35% in March compared to February [1][2] - The highest month-on-month growth was observed in Xinda Securities' app "Xinda Tianxia" with an increase of 5.29%, while the lowest growth was in Huaxi Securities' app "Huacai Rensheng" with an increase of only 2.07% [1][2] Monthly Active User Growth of Brokerage Apps - The top brokerage apps by month-on-month growth in March are as follows: - 1st: "Zhangle Caifutong" by Huatai Securities with a growth of 2.79% [2] - 2nd: "Guotai Haitong Junhong" by Guotai Junan Securities with a growth of 2.66% [2] - 3rd: "Ping An Securities" with a growth of 2.80% [2] - 4th: "Zhaoshang Securities" with a growth of 4.37% [2] - 5th: "CITIC Securities Xin E-Tou" with a growth of 3.95% [2] - 6th: "Guotai Haitong Tongcai" by Haitong Securities with a growth of 2.38% [2] - 7th: "Qingting Diankin" by CITIC JianTou Securities with a growth of 4.09% [2] - 8th: "GF Securities Yitaojin" with a growth of 3.84% [2] - 9th: "Xiaofang" by Fangzheng Securities with a growth of 3.53% [2] - 10th: "China Galaxy Securities" with a growth of 2.75% [2] - Other notable apps include "Xinda Tianxia" by Xinda Securities with a growth of 5.29% and "Yuli Bao" by Industrial Bank with a growth of 5.89% [2]