Core Viewpoint - The company expects a significant turnaround in its financial performance, projecting an unaudited consolidated profit after tax of between HKD 55 million and HKD 65 million for the six months ending June 30, 2025, compared to a loss of HKD 37 million in the same period last year [1] Financial Performance - The projected profit represents a substantial improvement from the previous year's loss, indicating a recovery in the company's financial health [1] - The company has effectively capitalized on market opportunities, leading to a notable increase in core business revenues, including institutional services, trading, wealth management, and corporate financing [1] Strategic Management - The company has optimized asset allocation and prudently managed market risk exposure, contributing to the enhanced financial results [1] - Active control of operating costs has also played a crucial role in driving profit growth for the first half of 2025 [1]

Group 1 - The announcement pertains to the management changes within Shenwan Hongyuan Securities Asset Management Co., Ltd. [2] - The departing senior executive is Gu Wei, who held the position of Deputy General Manager [2] - The reason for departure is stated as work arrangement, with the effective date being July 29, 2025 [2]

公告送出日期：2025年07月30日 1.公告基本信息 ■ 2.离任高级管理人员的相关信息 3.其他需要说明的事项 上述变更事项，已经申万宏源证券资产管理有限公司第一届董事会第二十九次会议审议通过，并将按规 定进行备案。 申万宏源证券资产管理有限公司 2025年07月30日 ■ ...

Core Viewpoint - The document provides a list of major securities firms in China, including their A-share and Hong Kong stock codes, indicating the competitive landscape of the securities industry in China [1] Group 1: Company Listings - Huatai Securities is listed with A-share code 601688.SH and Hong Kong code 6886.HK [1] - China Galaxy Securities has A-share code 601881.SH and Hong Kong code 6881.HK [1] - Shenwan Hongyuan is represented by A-share code 000166.SZ and Hong Kong code 6806.HK [1] - Everbright Securities is identified with A-share code 601788.SH and Hong Kong code 6178.HK [1] - China Merchants Securities has A-share code 600999.SH and Hong Kong code 6099.HK [1] - CITIC Securities is listed with A-share code 600030.SH and Hong Kong code 6030.HK [1] - Orient Securities has A-share code 600958.SH and Hong Kong code 3958.HK [1] - China International Capital Corporation (CICC) is represented by A-share code 601995.SH and Hong Kong code 3908.HK [1] - Guotai Junan is identified with A-share code 601211.SH and Hong Kong code 2611.HK [1] - GF Securities has A-share code 000776.SZ and Hong Kong code 1776.HK [1] - Guolian Securities is listed with A-share code 601456.SH and Hong Kong code 1456.HK [1] - Zhongyuan Securities has A-share code 601375.SH and Hong Kong code 1375.HK [1]

Core Viewpoint - The announcement of Shouchao Securities' plan to list in Hong Kong marks a significant step in the trend of Chinese brokerages pursuing internationalization and capital enhancement through overseas listings [1][2]. Group 1: Hong Kong Listing and Internationalization - Shouchao Securities is expected to become the 14th brokerage to achieve "A+H" share listing, joining a list of 13 existing brokerages that have already listed in both mainland China and Hong Kong [2]. - The move to list in Hong Kong is seen as a way for brokerages to enhance their capital strength, support cross-border operations, and improve international brand recognition [1][2]. - The Hong Kong market is characterized by a mature financing mechanism and an international investor structure, making it a key area for mainland financial institutions to expand their overseas presence [1]. Group 2: Capital Injection and Business Expansion - Several brokerages have been increasing their capital in Hong Kong subsidiaries, with notable examples including Guangfa Securities and Xibu Securities, which have injected significant amounts into their Hong Kong operations [3]. - The primary purpose of these capital increases is to bolster cross-border business capital, expand investment banking operations, and enhance derivatives capabilities [3][4]. - The trend indicates that brokerages are not only focusing on traditional services like IPOs and bond issuance but are also expanding into comprehensive services, including cross-border funds and structured products [4]. Group 3: Growth of International Business - Despite the current low proportion of international business revenue among brokerages, there is a clear upward trend, with expectations that it will become a crucial area for performance improvement [5]. - For instance, Citic Securities reported a significant increase in international revenue, achieving $2.26 billion in revenue and $530 million in net profit in 2024, marking a year-on-year growth of 41% and 116% respectively [5]. - Analysts suggest that international business will be a key battleground for brokerages, especially as traditional commission rates decline and domestic asset management faces challenges [5].

证券代码：000166 证券简称：申万宏源 公告编号：临2025-50 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 非公开发行短期公司债券（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。 成发行工作。本期债券发行规模人民币 40 亿元，分两个品种，其中 品种一发行规模人民币 15 亿元，期限 60 天，票面利率 1.60%；品种 二发行规模人民币 25 亿元，期限 123 天，票面利率 1.65%。本期债 券登记完成后拟于深圳证券交易所挂牌转让。 特此公告。 申万宏源集团股份有限公司董事会 二〇二五年七月二十九日 根据深圳证券交易所《关于申万宏源证券有限公司非公开发行短 期公司债券符合深交所挂牌条件的无异议函》（深证函〔2025〕461 号），公司所属申万宏源证券有限公司获准面向专业投资者非公开发 行面值总额不超过人民币 200 亿元短期公司债券。（相关情况请详见 公司于 2025 年 5 月 8 日在《中国证券报》《证券时报》《上海证券 报》和巨潮资讯网 www.cninfo. ...

申万宏源（000166）(06806)发布公告，2025年7月28日，申万宏源证券（000562）有限公司2025年面向 专业投资者非公开发行短期公司债券(第二期)完成发行工作。本期债券发行规模人民币40亿元，分两个 品种，其中品种一发行规模人民币15亿元，期限60天，票面利率1.60%;品种二发行规模人民币25亿元， 期限123天，票面利率1.65%。本期债券登记完成后拟于深圳证券交易所挂牌转让。 ...

格隆汇7月29日丨申万宏源(06806.HK)公告，2025年7月28日，申万宏源证券有限公司2025年面向专业投 资者非公开发行短期公司债券（第二期）完成发行工作。本期债券发行规模人民币40亿元，分两个品 种，其中品种一发行规模人民币15亿元，期限60天，票面利率1.60%；品种二发行规模人民币25亿元， 期限123天，票面利率1.65%。本期债券登记完成后拟于深圳证券交易所挂牌转让。 ...

智通财经APP讯，申万宏源(06806)发布公告，2025年7月28日，申万宏源证券有限公司2025年面向专业 投资者非公开发行短期公司债券(第二期)完成发行工作。本期债券发行规模人民币40亿元，分两个品 种，其中品种一发行规模人民币15亿元，期限60天，票面利率1.60%;品种二发行规模人民币25亿元，期 限123天，票面利率1.65%。本期债券登记完成后拟于深圳证券交易所挂牌转让。 ...

（ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：6806） 海外監管公告 本公告乃由申萬宏源集團股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上市規 則第13.10B條作出。 茲載列本公司於深圳證券交易所網站發佈之《申萬宏源集團股份有限公司關於申萬宏源證券有 限公司2025年面向專業投資者非公開發行短期公司債券（第二期）發行結果的公告》，僅供參 閱。 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，並明確表示概不就因本公告全部或任何部分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。 於本公告日期，董事會成員包括執行董事劉健先生及黃昊先生；非執行董事朱志龍先生、張英女士、邵亞樓先生、 徐一心先生及嚴金國先生；獨立非執行董事楊小雯女士、武常岐先生、陳漢文先生及趙磊先生。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-50 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 非公开发行短期公司债券（第二期）发行结果的公 ...