Financial Performance - In 2024, the company achieved a total revenue of RMB 24.735 billion, representing a year-on-year growth of 15.04%[5] - The net profit for the year was RMB 6.251 billion, an increase of 14.16% compared to the previous year[5] - The total assets and net assets at year-end reached RMB 697.597 billion and RMB 133.349 billion, respectively, with year-on-year growth of 9.78% and 3.54%[5] - The return on equity (ROE) for the year was 5.08%, an increase of 0.36 percentage points year-on-year[5] - The company's operating revenue for 2024 reached RMB 24,735,044,127.97, representing a 15.04% increase compared to RMB 21,500,668,661.21 in 2023[53] - Net profit for 2024 was RMB 6,250,514,391.62, up 14.16% from RMB 5,475,202,954.22 in the previous year[53] - The net profit attributable to shareholders of the listed company was RMB 5,210,661,908.61, reflecting a 13.12% increase from RMB 4,606,340,168.13 in 2023[53] - The company's basic earnings per share for 2024 was RMB 0.21, a 16.67% increase from RMB 0.18 in 2023[53] - The weighted average return on net assets increased to 5.08%, up from 4.72% in the previous year[53] - The company's total liabilities rose by 11.37% year-over-year to RMB 564.25 billion[55] Dividend and Capital Management - The company implemented its first interim dividend in 2024, proposing a cash dividend of RMB 0.46 per 10 shares, with a total dividend payout ratio of 30.27%[5] - The company plans to distribute a cash dividend of RMB 0.63 per 10 shares, totaling RMB 1,577,516,507.28, which represents 30.27% of the net profit attributable to shareholders[21] - The total registered capital of the company reached RMB 25,039,944,560 following the issuance of H shares in April 2019[49] - The company completed a significant capital increase in 2005, raising its registered capital to RMB 6,715,760,000[44] Business Strategy and Development - The company aims to enhance its service capabilities to support the real economy's digitalization and green transformation[6] - The company plans to continue optimizing its comprehensive financial services to better meet the needs of the economy and society[12] - The company aims to transform its traditional brokerage business into wealth management, focusing on client and asset growth[13] - The company is committed to enhancing its core capabilities in investment banking, including sponsorship and pricing, to increase asset allocation in high-quality investments[13] - The company is focused on expanding its market presence and enhancing collaboration within the investment system to increase business synergy[14] - The company has set a goal to optimize strategic implementation and improve overall corporate competitiveness[13] - The company will maintain a commitment to social responsibility and enhance its ESG management practices[15] Technology and Innovation - The company launched the "Shencai Youdao" wealth management app to enhance customer service experience and strengthen financial technology investments[8] - The company is accelerating its digital transformation by leveraging AI technology to improve operational efficiency and establish a standardized, intelligent system[14] - The company’s self-developed wealth management platform, "Shen Cai You Dao APP," integrates various financial services and utilizes AI and big data to improve customer experience[159] Awards and Recognition - The company received 17 provincial-level financial technology awards and the second prize for the "2023 Financial Technology Development Award" from the People's Bank of China[9] - The company received multiple awards, including the "Best Practice Case for Investor Relations Management" from the China Listed Companies Association for 2024[80] - The company was recognized as the "Most Popular Financial Education Work" for 2024 by the National Financial Supervision Administration and other regulatory bodies[80] - The company was awarded the "Best Bond Underwriter" in the 2024 Best Investment Bank Awards by WIND[86] - The company ranked 4th in the "Best ESG Practicing Investment Bank" category in the 17th New Fortune Best Investment Bank Awards[92] Market and Industry Trends - The Chinese securities industry is entering a new phase of high-quality development, supported by continuous improvements in the capital market's foundational systems and a focus on risk prevention and economic service[67] - A new wave of mergers and acquisitions is accelerating in the securities industry, with policies encouraging leading firms to enhance core competitiveness through consolidation[69] - The regulatory framework is evolving with the "1+N" policy system, focusing on strong regulation, risk prevention, and high-quality development, which is creating significant opportunities for the securities industry[72] Risk Management - The company will continue to strengthen risk management and internal control systems to ensure stable operations and promote development[15] - The company has established a comprehensive risk management system to effectively control operational risks and ensure healthy business development[118] - The company is committed to preventing financial risks while pursuing high-quality development in its repurchase business and credit product offerings in 2025[179] Client and Market Engagement - The company has established a comprehensive financial service matrix for listed companies, serving over 100 companies in share buybacks and over 60 companies in employee incentives, benefiting more than 16,000 individuals[189] - The company has recommended a total of 861 listed companies, ranking first in the industry[140] - The company has completed 678 bond underwriting projects during the reporting period, with a total underwriting scale of RMB 2,811.89 million, representing a year-on-year growth of 7%[143] Future Plans - The company aims to enhance its wealth management capabilities by building a product matrix that includes public funds, ETFs, and customized private placements by 2025[160] - The company plans to leverage its full-license advantage to deepen product, business, research, and service upgrades in 2025, aiming for a more professional and systematic collaborative service system[191] - The company aims to enhance its decision-making influence and industry impact by reinforcing its research system in 2025, aligning with national strategies and industry development[194]

证券代码：000166 证券简称：申万宏源 公告编号：临2025-17 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2025 年面向专业 投资者公开发行公司债券（第二期）发行结果的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 根据中国证券监督管理委员会《关于同意申万宏源证券有限公司 向专业投资者公开发行公司债券注册的批复》（证监许可〔2024〕57 号），公司所属申万宏源证券有限公司获准向专业投资者公开发行面 值总额不超过人民币 200 亿元公司债券。（相关情况请详见公司于 2024 年 1 月 20 日在《中国证券报》《证券时报》《上海证券报》和 巨潮资讯网 www.cninfo.com.cn 上刊登的公告） 2025 年 3 月 27 日，申万宏源证券有限公司 2025 年面向专业投 资者公开发行公司债券（第二期）（以下简称"本期债券"）完成发行 工作。本期债券发行规模人民币 42 亿元，分两个品种，其中品种一 发行规模人民币 24 亿元，期限 2 年，票面利率 1.99%；品种二发行 规模人民币 18 亿元，期限 3 ...

申万宏源集团股份有限公司 2025 年面向专业投资者公开发行公司债券（第一期） 在深圳证券交易所上市的公告 | 发行日 | 2025 | 年 | 月 3 | 日及 21 | 2025 | 年 | 月 3 | 24 | 日 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 起息日 | 2025 | 年 | 3 月 | 24 日 | | | | | | | 上市日 | 2025 | 年 | 月 3 | 日 27 | | | | | | | 到期日 | 2028 | 年 | 3 月 | 24 日 | | | | | | | 债券面值 | 100 | 元/张 | | | | | | | | | 开盘参考价 | 100 | 元/张 | | | | | | | | （以下无正文） （本页无正文，为《申万宏源集团股份有限公司 2025 年面向专业投资者公开发 行公司债券（第一期）在深圳证券交易所上市的公告》之盖章页） 申万宏源集团股份有限公司 年 月 日 2025 3 26 根据深圳证券交易所债券上市的有关规定，申万宏源集团股份有限公司 20 ...

证券代码：000166 证券简称：申万宏源 公告编号：临2025-16 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2022 年面向专业投资者公开发 行公司债券（第三期）（品种一）兑付兑息并摘牌的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 公司所属子公司申万宏源证券有限公司于 2022 年 3 月 24 日发行 申万宏源证券有限公司 2022 年面向专业投资者公开发行公司债券 （第三期）（品种一）（以下简称"本期债券"），发行规模人民币 35 亿元，票面利率 3.18%，期限 3 年，债券代码 149852，债券简称 22 申证 05。（相关情况请详见公司于 2022 年 3 月 26 日、4 月 1 日 在《中国证券报》《证券时报》《上海证券报》和巨潮资讯网 www.cninfo.com.cn 上刊登的公告） 特此公告。 申万宏源集团股份有限公司董事会 二〇二五年三月二十五日 本期债券兑付日为2025年3月24日，摘牌日为2025年3月24日，申 万宏源证券有限公司已按照《申万宏源证券有限公司2022年面向专业 投资者 ...

申万宏源集团股份有限公司 2025 年面向专业投资者公开发行公司债 券（第一期）发行结果公告 证券代码：524193 证券简称：25 申宏 01 证券代码：524194 证券简称：25 申宏 02 (本页无正文,为《申万宏源集团股份有限公司 2025年面向专业投资者公开发 行公司债券(第一期)发行结果公告》之盖章页) 发行人:申 年 3 月 24 日 2025 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，并对 公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 申万宏源集团股份有限公司（以下简称"发行人"）面向专业投资者公开发 行面值总额不超过人民币 102 亿元公司债券于 2024 年 9 月 5 日经中国证券监督 管理委员会注册（证监许可[2024]1245 号）。 根据《申万宏源集团股份有限公司 2025 年面向专业投资者公开发行公司债 券（第一期）发行公告》，申万宏源集团股份有限公司 2025 年面向专业投资者公 开发行公司债券（第一期）（以下简称"本期债券"）发行规模为不超过 18 亿元（含 18 亿元），发行价格为每张 100 元，采取网下面向专业机构投资者询价配售的方 式发行 ...

Core Viewpoint - Shenzhen plans to hold a public hearing on water price adjustments on April 11, 2025, proposing to increase the comprehensive water price from 3.45 yuan per cubic meter to 3.90 yuan per cubic meter, representing a 13.05% increase, which is a significant development following the water price hearing in Guangzhou last year [1][2] Group 1: Water Price Adjustment - The current water price in Shenzhen has been in effect since July 26, 2017, and the upcoming adjustment is expected to influence surrounding areas, enhancing the public utility attributes of the water sector [2] - Comparatively, several cities around Guangzhou and Shenzhen have not adjusted their water prices for years, with Foshan last adjusting in 2016 and Zhongshan in 2012 [2] Group 2: Pricing Methodology - The pricing of residential water is determined based on a "permitted cost plus reasonable return" method, where the permitted cost serves as the foundation for price adjustments [3] - The pricing authority is required to conduct cost audits and maintain cost transparency, establishing a regular cost audit system to determine pricing costs [3] Group 3: Regulatory Framework - In 2021, the National Development and Reform Commission introduced policies allowing water prices to be adjusted every three years, providing local water companies with the potential for price increases [4] - The revised regulations clarify pricing principles, methods, and adjustment procedures, emphasizing timely adjustments based on cost assessments [4] Group 4: Investment Opportunities - Although there are no publicly listed companies operating Shenzhen's water services, the price adjustment is expected to benefit three categories of companies: 1) Urban water operators in the Greater Guangzhou-Shenzhen area, with a focus on companies like Hanlan Environment (600323.SH), Shunkong Development (003039.SZ), and Zhongshan Public Utilities (000685.SZ) [5] 2) Other water operators in Guangdong and raw water suppliers in Shenzhen and Dongguan, with a focus on Yuehai Investment (00270) [5] 3) Undervalued water companies in other regions, with a focus on Xingrong Environment (000598.SZ) [5]

本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 申万宏源集团股份有限公司（以下简称"公司"）2024年年度报 告将于2025年3月29日披露。为便于广大投资者更深入全面了解公司 2024年年度业绩和经营情况，公司定于2025年3月31日（星期一）下 午15:00-17:00举办2024年度业绩说明会。具体情况如下： 证券代码：000166 证券简称：申万宏源 公告编号：临2025-14 申 万 宏 源 集 团 股 份 有 限 公 司 关于召开 2024 年度业绩说明会的公告 https://www.roadshowchina.cn/Meet/detail.html?mid=24814（频道 二） （频道一） （频道二） 一、业绩说明会安排 1.召开时间：2025年3月31日（星期一）下午15:00-17:00 2.召开方式：网络直播 3.公司出席人员：董事长刘健先生，副董事长、总经理黄昊先生， 独立非执行董事代表，财务总监任全胜女士，董事会秘书徐亮先生等 二、投资者参与方式 1.投资者可通过以下网址或扫描二维码观看业绩说明会： https://eseb.cn/ ...

一、通过《申万宏源高管 2024 年度个人履职情况考核评价方案》。 表决结果：11 票同意，0 票反对，0 票弃权。 此方案已经公司董事会薪酬与提名委员会审议同意。 特此公告。 证券代码：000166 证券简称：申万宏源 公告编号：临 2025-15 申 万 宏 源 集 团 股 份 有 限 公 司 第六届董事会第五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 申万宏源集团股份有限公司（以下简称"公司"）第六届董事会 第五次会议于 2025 年 3 月 21 日以通讯方式召开。2025 年 3 月 14 日， 公司以书面方式向全体董事发出了召开董事会会议的通知。会议应参 加表决董事 11 人，实际参加表决董事 11 人，符合《公司法》等法律、 行政法规、部门规章和《公司章程》的有关规定。会议经认真审议并 以记名投票方式表决，形成决议如下： 申万宏源集团股份有限公司董事会 二〇二五年三月二十一日 ...

本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，并 对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 申万宏源集团股份有限公司（以下简称"发行人"）面向专业投资者公开发行 面值总额不超过人民币 102 亿元公司债券于 2024 年 9 月 5 日经中国证券监督管 理委员会注册（证监许可[2024]1245 号）。 申万宏源集团股份有限公司 2025 年面向专业投资者公开发行公司债券（第 一期）（以下简称"本期债券"）发行规模为不超过人民币 18 亿元（含 18 亿元）。 本期债券分为两个品种，品种一为 2 年期，品种二为 3 年期。本期债券设品种间 回拨选择权，回拨比例不受限制，发行人和簿记管理人将根据本期债券发行申购 情况，在总发行规模内，由发行人和簿记管理人协商一致，决定是否行使品种间 回拨选择权，即减少其中一个品种的发行规模，同时对另一品种的发行规模增加 相同金额，单一品种最大拨出规模不超过其最大可发行规模的 100%。本期债券 各品种总计发行规模不超过 18 亿元（含 18 亿元）。 2025 年 3 月 20 日，发行人和主承销商在网下向专业机构投资者进行了票面 利率询价，品种一 ...