肖玲女士的离任不会导致公司董事会成员低于法定人数，其辞职报告自送达 公司董事会之日起生效。肖玲女士确认与公司及董事会没有不同意见，亦无其他 需特别说明或提请公司股东和债权人注意的事项，并已按相关要求做好交接工作。 根据有关法律法规及公司《章程》等规定，并结合公司股东南京新工投资集团有 限责任公司的推荐意见，公司第四届董事会第十一次会议审议通过了《关于提名 董事候选人的议案》，同意提名潘志鹏先生（简历详见与本公告同日披露的本次 董事会会议决议公告）为第四届董事会董事候选人，其任期自股东大会审议通过 之日起至本届董事会届满之日止。该议案尚需提交公司股东大会审议。 关于公司董事离任的公告 公司对肖玲女士任职期间为公司作出的贡献表示衷心感谢！ 证券代码：601990 证券简称：南京证券 公告编号：临 2025-021 号 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。 南京证券股份有限公司 一、提前离任的基本情况 南京证券股份有限公司（以下简称"公司"）于近日收到肖玲女士的辞职报 告，肖玲女士因工作安排调整申请辞去公司董事及董事会专门 ...

证券代码：601990 证券简称：南京证券 公告编号：临 2025-022 号 南京证券股份有限公司（以下简称"公司"）第四届董事会第十一次会议于 2025 年 7 月 25 日在公司总部以现场结合通讯方式召开，会议通知和材料于 2025 年 7 月 23 日以邮件方式发出，全体董事一致同意豁免本次会议的通知期限。会 议应出席董事 14 名，实际出席董事 14 名（其中，李剑锋董事长、夏宏建董事现 场出席会议，其他董事以视频方式出席会议）。本次会议的召集、召开及表决程 序符合有关法律法规、规章、规范性文件以及公司《章程》等规定。会议由李剑 锋董事长主持。会议作出如下决议： 一、审议并通过《关于提名董事候选人的议案》。 公司股东南京新工投资集团有限责任公司（以下简称"新工集团"）原推荐 肖玲女士担任公司董事，因工作安排调整，肖玲女士辞去公司第四届董事会董事、 董事会合规与风险管理委员会委员职务。新工集团推荐潘志鹏先生担任公司第四 届董事会董事。董事会同意提名潘志鹏先生（简历详见附件）为公司第四届董事 会董事候选人，并提请股东大会选举其为公司第四届董事会董事。潘志鹏先生将 在公司股东大会选举通过之日起正式担任公司 ...

Core Viewpoint - The stock of NuoTai Bio (688076.SH) was officially changed to "ST NuoTai" following the announcement of a financial fraud case, leading to an 11% drop in stock price on the first trading day after the change [1][2]. Group 1: Financial Fraud Details - NuoTai Bio's financial fraud was revealed in the "Administrative Penalty Notice" issued by the China Securities Regulatory Commission (CSRC), indicating that the company had fabricated financial data in its 2021 annual report [2][3]. - The fraudulent activity involved a technology transfer to Zhejiang Huabei Pharmaceutical Co., which lacked the financial capability and operational capacity to pay for or utilize the technology, resulting in an inflated revenue of 30 million yuan and an inflated profit of 25.9516 million yuan, accounting for 20.64% of the reported profit [3][4]. - NuoTai Bio also included false financial data in its convertible bond issuance documents, continuing to use the fraudulent 2021 financial figures in its fundraising materials [3]. Group 2: Penalties and Consequences - The CSRC proposed penalties against NuoTai Bio, including a fine of 47.4 million yuan and warnings for the company and its executives, with total penalties amounting to 76.2 million yuan, setting a record for penalties on the STAR Market [4][5]. - The actual controllers of NuoTai Bio, Zhao Dezhong and Zhao Deyi, received fines of 13 million yuan and 5 million yuan respectively, while four senior executives were fined between 1.5 million and 3.3 million yuan [4][5]. Group 3: Role of Nanjing Securities - Nanjing Securities, the sponsor for NuoTai Bio's IPO and convertible bond issuance, is implicated in the fraud due to its confirmation of the accuracy of the financial disclosures in the listing and bond issuance documents [6]. - Nanjing Securities earned approximately 66.3854 million yuan in underwriting fees from the IPO and around 5.66 million yuan from the convertible bond project [6]. - The firm has faced multiple issues with its sponsored projects, including instances of financial fraud and information disclosure violations [7][8].

Core Viewpoint - The company NuoTai Bio (688076.SH) has been penalized by the China Securities Regulatory Commission (CSRC) for financial fraud and has officially been designated as ST (Special Treatment) due to its violations, which include fabricating financial data and misleading disclosures [1][3]. Group 1: Company Violations - NuoTai Bio was found to have falsely recognized 30 million yuan in revenue through fictitious technology transfers, inflating profits by 25.95 million yuan, which accounted for 20.6% of the disclosed amount [1]. - The company also fabricated significant content in its public offering documents, with the 2023 convertible bond prospectus continuing to use this false data, constituting a serious violation of issuance document integrity [1][3]. Group 2: Underwriter's Responsibility - Nanjing Securities (601990.SH), as the underwriter for NuoTai Bio, was deeply involved in its financing operations and failed to identify the discrepancies in the financial disclosures, despite confirming the accuracy of the information provided [3][6]. - The underwriter received a total of 66.3854 million yuan in underwriting fees for the IPO and an additional 5.66 million yuan for the convertible bond project, raising questions about its due diligence practices [3][6]. Group 3: Regulatory and Market Impact - Following the scandal, Nanjing Securities has faced scrutiny for its oversight quality, with over 40% of the 17 IPO and refinancing companies it has supervised in the past decade encountering issues such as financial fraud and disclosure violations [6]. - Despite achieving a record net profit of 1 billion yuan in 2024, Nanjing Securities reported an 11.6% decline in revenue in the first quarter of 2025, indicating potential weaknesses in its business performance [7]. Group 4: Future Outlook - NuoTai Bio's stock will be subject to additional risk warnings from the Shanghai Stock Exchange, but it does not currently face mandatory delisting due to major legal violations [8]. - Nanjing Securities' 5 billion yuan private placement plan has faced delays and scrutiny, with the validity of the plan extended to July 2026, leaving its future uncertain [8].

Core Points - The "Qingning Practice Reality Classroom" was launched to create a practical platform for youth employment in the financial industry, aiming to integrate education and industry to support high-quality employment for university students in Nanjing [1][2] - The platform is set to begin trial operation by the end of 2024 and officially launch in May 2025, with plans to serve over 10,000 university students this year through various practical courses [1][2] - As of now, 199 enterprises have joined the platform, offering 474 courses and serving 3,832 participants, reflecting a significant engagement from both students and financial institutions [2] Industry Collaboration - The collaboration between universities and financial institutions has led to the development of practical courses that allow students to engage with real financial projects, enhancing their understanding of industry operations and challenges [3][4] - The financial technology practice courses developed in partnership with Nanjing University have already completed four iterations, focusing on key areas such as technology finance and green finance [2][3] - The platform serves as a "catalyst" for education-industry integration, bridging the gap between academic knowledge and practical application, thus preparing students for future roles in the financial sector [3][4]

Core Insights - The "Top Leaders in Listed Securities Firms" ranking by Sina Finance recognizes outstanding contributions and influence of leaders in the securities industry, with Nanjing Securities' president, Xia Hongjian, ranked 14th among growth-oriented securities firms [1][14]. Group 1: Leadership Evaluation - The ranking evaluates leaders based on a comprehensive assessment that includes industry data, peer evaluations, and online presence, focusing on the creation of economic and social value [1][5]. - Xia Hongjian has held various positions within Nanjing Securities, including roles in asset management and investment, before becoming the president [2]. Group 2: Performance Metrics - Nanjing Securities reported a revenue growth rate of 27.12% and a net profit growth rate of 47.95% [6]. - The return on assets (ROA) is 1.57%, and the return on equity (ROE) is 5.72% [6]. - The total asset growth rate is 19.25%, while the net asset growth rate is 4.07% [6]. - The brokerage business profit margin is 73.57%, ranking 19th among listed securities firms, while the investment banking business profit margin is 100%, ranking 1st [6]. Group 3: Evaluation Scores - Nanjing Securities scored 72.46 in industry data evaluation, ranking 25th among 50 listed firms and 9th among 28 industry-specific firms [14]. - In peer evaluation, the firm received a score of 80.35, ranking 31st among 50 listed firms and 10th among 28 industry-specific firms [14]. - The online presence evaluation score was 63.39, placing the firm last (50th) among 50 listed firms and 28th among 28 industry-specific firms [14].

Group 1 - The rapid development and widespread application of fintech are gradually changing the operating models and ecosystem of the securities industry [1] - Chief Information Officers (CIOs) play a crucial role in the digital transformation of brokerages and in building competitive advantages [1] - Several brokerages have intensified their recruitment of CIOs this year to strengthen their information technology strategies and create business "moats" [1] Group 2 - Donghai Securities and Southwest Securities have recently announced open recruitment for the CIO position, focusing on candidates with a strong background in fintech business development [1] - New CIO appointments have been made at various brokerages this year, including Huaxi Securities and Guolian Minsheng [1][2] - Most of the newly appointed CIOs possess extensive experience in both securities business and technology departments, indicating a trend towards hiring professionals with dual expertise [2] Group 3 - The role of CIOs is deemed essential for optimizing trading systems, enhancing intelligent service levels, and improving transaction efficiency [2] - The intensive recruitment of CIOs highlights the accelerating trend of digital transformation within the industry [2] - Strengthening IT investments and strategies is crucial for brokerages to build core competitiveness and achieve differentiated development in a competitive market [2]

Core Insights - The article highlights the strong performance of top investment advisors in the A-share market, with significant excess returns compared to the market average, showcasing their capabilities in a volatile market environment [1][3]. Performance Overview - The average return of the top 300 advisors in the stock trading group reached 27.19%, while the top 10 advisors achieved an impressive average return of 47.41% [2][3]. - In June, the three major indices in the A-share market all showed positive performance, with the Shanghai Composite Index rising by 2.9%, the Shenzhen Component Index by 4.23%, and the ChiNext Index by 8.02% [3]. ETF Group Performance - The average return for the top 200 advisors in the ETF group was 17.34%, with the top 10 achieving an average return of 30.93% [10][11]. - Compared to the benchmark indices, the top advisors significantly outperformed, with the Shanghai Composite Index rising by 5.04% and the Shenzhen Component Index by 5.71% during the same period [11]. Advisor Strategies - Advisors from leading firms like Guangfa Securities and CITIC Securities shared their strategies, focusing on growth stocks and utilizing models like "5+30" to identify high-potential sectors [13][14]. - Risk management strategies were emphasized, including controlling drawdowns and diversifying portfolios to mitigate risks during market fluctuations [15][20]. Institutional Strength - Guangfa Securities, CITIC Securities, and China Galaxy Securities led the rankings in terms of the number of advisors participating in the evaluation, indicating their strong institutional capabilities [23][28]. - The competition among institutions reflects a shift towards a client-centric approach in wealth management, emphasizing the importance of professional capabilities [39]. Future Outlook - Advisors are focusing on sectors with high growth potential, such as innovative pharmaceuticals and aerospace, while also considering macroeconomic factors like Federal Reserve policies [17][22]. - The article suggests that as market volatility becomes the norm, the ability of professional advisors to create value will be crucial for their competitive edge [39].

Core Viewpoint - In the first half of the year, seven brokerage firms implemented share buybacks totaling 191 million shares and an aggregate amount of 2.031 billion yuan, indicating a positive trend in the brokerage sector's valuation recovery due to various supportive measures and an improving market environment [1][2]. Group 1: Share Buyback Details - Seven brokerages have disclosed their share buyback progress, with notable examples including Dongfang Securities, Guotai Junan, and Zhongtai Securities, which collectively repurchased millions of shares and spent significant amounts [2]. - Dongfang Securities repurchased 26.70 million shares for 250 million yuan, Guotai Junan repurchased 59.22 million shares for 1.051 billion yuan, and Zhongtai Securities repurchased 33.50 million shares for 213 million yuan [2]. Group 2: Future Buyback Plans - Some brokerages have announced future buyback plans, such as Hongta Securities, which plans to repurchase between 100 million and 200 million yuan worth of shares to support its ongoing development [3]. Group 3: Purpose of Share Buybacks - The primary objectives of the share buybacks include maintaining company value and shareholder rights, optimizing capital structure, and enhancing shareholder returns [4]. - Brokerages like Zhongtai Securities and Hongta Securities explicitly stated that their repurchased shares would be canceled to reduce registered capital and improve shareholder returns [4]. Group 4: Broader Market Management Strategies - In addition to share buybacks, several major shareholders of brokerages have announced plans to increase their holdings, reflecting a growing awareness of enhancing investor returns [5]. - For instance, Tianfeng Securities' major shareholder increased its stake by 1.79 million shares for 502 million yuan, while Changcheng Securities' major shareholder plans to invest between 50 million and 100 million yuan [5]. Group 5: Market Outlook - Analysts predict that with the influx of long-term capital and increased market stability, the risk appetite in the market is likely to improve, which may lead to a recovery in brokerage valuations [6].

Core Viewpoint - Nanjing Securities has extended the validity period of its 5 billion yuan private placement plan by 12 months, now set to expire on July 4, 2026, following a shareholder meeting approval [1][2]. Group 1: Private Placement Details - The private placement plan, initially disclosed in April 2023 and accepted by the Shanghai Stock Exchange in May 2025, has faced delays and regulatory scrutiny, including a recent inquiry from the exchange [5][6]. - The total amount to be raised through the private placement is capped at 5 billion yuan, with the funds intended to supplement the company's capital [6][7]. - The plan includes investments in traditional business areas such as investment banking, wealth management, proprietary trading, and asset management, with specific allocations for debt repayment and technology investments [7][8]. Group 2: Regulatory Environment - The regulatory environment for securities firms has tightened, with a focus on the necessity and rationality of financing, as well as the efficient use of funds [15][17]. - Nanjing Securities' response to regulatory inquiries highlighted the importance of capital adequacy in maintaining competitive positioning within the industry [9][16]. - The company has faced administrative penalties and regulatory measures, which have been rectified, indicating a commitment to compliance [12][11]. Group 3: Financial Performance - Nanjing Securities has shown stable revenue growth, with total revenues of 20.08 billion yuan in 2022, projected to increase to 31.47 billion yuan by 2024, reflecting year-on-year growth rates of 23.30% and 27.12% respectively [10]. - The company reported a net profit of 6.46 billion yuan in 2022, with expectations of growth to 10.02 billion yuan by 2024, indicating a positive trend in profitability [10]. - The firm’s net capital has remained around 150 billion yuan over the past five years, positioning it in the mid-tier of the industry [9].