Core Viewpoint - The performance forecasts of 26 listed securities firms indicate a rare "full house" situation, with all firms expecting year-on-year profit growth, driven primarily by wealth management and investment businesses [1] Group 1: Performance Highlights - Among the 26 firms, the net profit growth is expected across the board, with 22 firms providing specific reasons for their performance, highlighting wealth management as the core driver [1] - The leading firm, CITIC Securities, anticipates a net profit of 30.051 billion yuan for 2025, representing a 38.50% increase, making it the only firm projected to exceed 30 billion yuan [2] - Guotai Junan Securities, following its merger, expects a net profit between 27.533 billion and 28.006 billion yuan, with a staggering growth rate of 111% to 115% [3] Group 2: Notable Performers - Eight firms are projected to achieve over 100% year-on-year profit growth, with Tianfeng Securities leading at an expected increase of 520.7% to 722.7% [4] - Other notable performers include Xiangcai Securities and Guolian Minsheng Securities, both expecting profit growth of approximately four times, attributed to significant advancements in wealth management and business integration [4] - The overall positive outlook for the brokerage sector is supported by active market conditions and a recovery in investment banking, which are expected to drive substantial increases in brokerage and investment income [4]

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份內容 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。 China International Capital Corporation Limited 03908 關於聯席公司秘書任職生效的公告 茲提述中國國際金融股份有限公司（「本公司」，連同本公司附屬公司統稱「本集團」）日期 為2026年1月22日的公告（「該公告」），內容有關（其中包括）董事會同意：(i)聘任梁東擎女 士（「梁女士」）為本公司董事會秘書，前述聘任已自2026年1月28日起生效；及(ii)聘任梁女 士為本公司聯席公司秘書，自董事會審議通過且其取得香港聯交所有關豁免嚴格遵守香 港上市規則第3.28條及第8.17條規定的批准之日（两者孰晚）起生效。周佳興先生（「周先 生」）將繼續擔任本公司另一名聯席公司秘書，協助梁女士履行公司秘書職責。除另有界 定者外，本公告所用詞彙與該公告所界定者具相同涵義。 梁女士的簡歷詳見該公告，周先生的簡歷如下： 周佳興先生，1972年8月出生，自2021年12月起獲 ...

从板块与行业结构看，市场内部存在清晰的分化。成长风格与主题投资成为反弹先锋。在板块题材上，光伏产业链（包括光伏精选、TOPCon电池、BC电池 等）、AI硬件相关概念（如光电路交换）、稀土，以及受事件催化的"太空光伏"等板块涨幅靠前。 作者 胡群 在连续两个交易日的深度调整之后，A股市场于2月3日展开了强劲反弹。截至收盘，上证指数上涨1.29%，收复4067点；深证成指大幅攀升2.19%；创业板指 上涨1.86%。尤为引人注目的是，北证50指数强势上涨3.27%，显示出中小市值板块的活跃态势。全市场呈现普涨格局，沪深京三市超过4800只个股收涨， 上涨比例超过90%。 市场成交额维持在25658亿元的高位水平，虽然较前一交易日小幅缩减411亿元，但整体交投依然活跃。从板块表现来看，成长风格占据绝对主导，AI硬 件、光伏、国防军工等板块涨幅居前，成为推动指数上行的核心动力。与此形成鲜明对比的是，银行、保险等金融权重板块逆势走低。这种结构性分化，反 映出当前市场资金在风险偏好回升的同时，对权重蓝筹仍保持谨慎态度。 免责声明：本文观点仅代表作者本人，供参考、交流，不构成任何建议。 指数全天的运行轨迹勾勒出多空双方的 ...

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份內容 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。 China International Capital Corporation Limited - 1 - 根據香港上市規則第8.17條的規定，上市發行人必須委任符合香港上市規則第3.28條規定 之公司秘書。香港上市規則第3.28條規定，上市發行人必須委任香港聯交所認為在學術或 專業資格或有關經驗方面足以履行公司秘書職責之個別人士為公司秘書。 儘管梁女士現時並未具備符合香港上市規則第3.28條規定的資格或有關經驗，經考慮到(i) 梁女士於本集團的工作經歷、學術背景及行業經驗，特別是梁女士在服務本集團近二十 年期間積累的對本集團業務運營及管理的深厚專業知識，以及(ii)周先生對香港法律法規 及其實際應用的深刻理解，本公司認為梁女士是擔任本公司聯席公司秘書的合適人選， 以及任命梁女士與周先生為聯席公司秘書具有必要性。本公司已申請而梁女士已於2026 年2月2日取得香港聯交所有關豁免嚴格遵守香港上市規則第3. ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is intensifying its regulatory scrutiny on brokerage firms, maintaining a high-pressure stance against illegal activities in the capital market, with a focus on ensuring long-term healthy development [1]. Group 1: Regulatory Actions - In January, 14 brokerage firms and their branches received regulatory penalties, primarily related to margin trading, brokerage, and investment banking violations [1]. - Jianghai Securities, Financial Street Securities, and Xinda Securities were among the firms that received the most penalties [1]. - The regulatory crackdown is seen as beneficial for the long-term health of the capital market [1]. Group 2: Specific Violations - Brokerage firms faced the highest number of penalties in the brokerage business sector, with Jianghai Securities' Harbin Hongjun Street branch receiving warnings for inadequate compliance in client follow-up and management issues [2]. - Jianghai Securities was also penalized for third-party involvement in investor solicitation and for employing unqualified personnel in securities-related roles [2]. - Other firms like Hualin Securities and Zheshang Securities were penalized for issues related to complaint handling and compliance in transaction audits, respectively [3]. Group 3: Margin Trading and Investment Banking Violations - Margin trading violations have drawn regulatory attention, with Xinda Securities' Wenzhou branch penalized for insufficient control measures and failure to monitor abnormal trading behaviors [4]. - Jinyuan Unified Securities was the only firm penalized for investment banking violations, failing to fulfill its supervisory duties regarding a client’s compliance and information disclosure [4]. - The Shanghai Stock Exchange issued warnings to sponsors from China International Capital Corporation for inadequate due diligence in an IPO project [5]. Group 4: Overall Regulatory Environment - The regulatory environment for the securities industry has become increasingly stringent, with over 300 penalties issued last year affecting nearly 80 brokerage firms, particularly in the brokerage business sector [5].

经济观察网 2月3日早盘，太空光伏概念震荡拉升，截至10时整，双良节能（600481）涨停，奥特维涨 超18%，高测股份涨超10%，迈为股份（300751）、钧达股份（002865）等多股上涨。消息面上，近 日，多家机构发布看好太空光伏发展的研报。中金公司（601995）研报提到，在商业航天蓬勃发展背景 下，太空光伏作为其电源系统升级的核心方向，在星座批量组网的牵引下正迈向技术路线升级与产业化 交付的新阶段。随着我国低轨星座进入密集部署期、单星功率持续上行叠加太空算力等新应用场景推进 探索，建议把握太空光伏带来的全产业链变革，持续关注制造产业端落地密集催化。 ...

每经AI快讯，2月3日，中金公司（601995）研报指出，商业航天蓬勃发展背景下，太空光伏作为其电 源系统升级的核心方向，在星座批量组网的牵引下正迈向技术路线升级与产业化交付的新阶段。随着我 国低轨星座进入密集部署期、单星功率持续上行叠加太空算力等新应用场景推进探索，建议把握太空光 伏带来的全产业链变革，持续关注制造产业端落地密集催化。 ...

Summary of Key Points Core Viewpoint - In January 2026, a total of 9 companies were listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange, raising a total of 9.053 billion yuan in funds [1]. Group 1: Listing and Fundraising - The 9 listed companies included 3 from the main boards of Shanghai and Shenzhen, 1 from the Sci-Tech Innovation Board, and 5 from the Beijing Stock Exchange [1]. - The top fundraising company was Zhenstone Co., Ltd., which raised 2.919 billion yuan, followed by Hengyun Chang and Shaanxi Tourism, which raised 1.561 billion yuan and 1.555 billion yuan respectively [1]. Group 2: Underwriting and Sponsorship Fees - A total of 9 securities firms participated in the underwriting and sponsorship of the newly listed companies, earning a combined fee of 457 million yuan [1]. - China International Capital Corporation (CICC) ranked first in underwriting fees, earning 122.0648 million yuan by sponsoring Zhenstone Co., Ltd. and Shaanxi Tourism [1]. - CITIC Securities and Guotai Junan Securities ranked second and third, earning 117.1101 million yuan and 45.4905 million yuan respectively [1][2]. Group 3: Top Securities Firms - The top five securities firms collectively earned 345 million yuan, accounting for 75% of the total underwriting fees for January [1]. - Other notable firms included Shenwan Hongyuan and Southwest Securities, each earning 42.1555 million yuan through joint sponsorship of Zhixin Co., Ltd. [1][2].

来源：市场资讯 （来源：五道口江湖） 一直稳如泰山的中金研究所，进入26年1月份，离职的人数略微有点多，根据统计，近期离职情况如 下： 1月30日 1、吴頔，吴頔是中金分析师，专注于制造业产业链研究 2、王天鹤，油气化工行业分析师 1月4日左右，魏鹳霏，主要专注于科技行业研究 1月26日左右 1、屈宁，中金食品饮料行业分析师 2、朱一平，中金食品饮料行业分析师 1月9日，李佳璠，中金房地产行业分析师。 1月9日左右，周基明，中金固定收益分析师 1月8日，周东平，中金非银行金融及金融科技行业分析师 1月6日左右，李根，中金研究院产业经济组副总经理， ...

（编辑 任世碧） 证券日报网讯 2月2日，百奥泰发布公告称，中金公司作为公司首次公开发行股票并在科创板上市项目 的保荐机构，原委派孔德进先生和任孟琦先生担任公司持续督导期的保荐代表人。现因保荐代表人孔德 进先生工作变动，不再担任百奥泰的持续督导保荐代表人。为保证公司持续督导工作的正常进行，根据 《证券发行上市保荐业务管理办法》等法规的规定，中金公司决定委派李胤康先生接替孔德进先生继续 履行对本次百奥泰持续督导的相关职责和义务。 ...