Core Viewpoint - The article provides an overview of the holiday trading schedule for the A-share market and highlights the opportunities for investors to engage in government bond reverse repos during the holiday period [5][9]. Trading Schedule - The A-share market will be closed from October 1 (Wednesday) to October 8 (Wednesday) for the National Day and Mid-Autumn Festival, resuming normal trading on October 9 (Thursday) [5]. - The Hong Kong Stock Connect will also be unavailable during the same period, with services resuming on October 9 [5]. Government Bond Reverse Repo - Government bond reverse repos are described as short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral by the borrower [9]. - The safety and yield of government bond reverse repos are considered comparable to government bonds, making them an attractive option for managing idle funds, especially before holidays [9][13]. - The article emphasizes the importance of monitoring interest rates and selecting suitable terms to maximize returns on idle cash [9][13]. Participation Guidelines - The minimum investment for government bond reverse repos is set at 1,000 yuan, with various term options available for investors to choose from [13]. - Investors are advised to execute one-day reverse repos two trading days before the holiday to benefit from holiday earnings without affecting other trading activities [13]. Specific Strategies for the Holiday - A detailed table outlines the participation dates, terms, and interest calculation days for government bond reverse repos leading up to the holiday [11][14]. - The article also introduces the "Baolixin/Baoliyuan" products, which are part of the Shenzhen Stock Exchange's quoted repo business, allowing investors to engage in financing through collateralized assets [15].

Group 1 - The article discusses the recruitment of the 2026 campus graduates by Shenwan Hongyuan Securities, highlighting the company's commitment to providing comprehensive financial services through its dual-structure model of "investment holding group + securities subsidiaries" [4] - Shenwan Hongyuan Securities was formed by the merger of the first joint-stock securities company in New China and the first listed securities company in the domestic capital market on January 16, 2015 [4] - The company aims to connect investors through its branch offices, which are crucial for its wealth management transformation [4] Group 2 - The recruitment targets 2026 graduates from both domestic and overseas institutions, with specific graduation timelines outlined for eligibility [11] - The company seeks candidates with a bachelor's degree or higher, preferably in economics, finance, law, or marketing, and values strong communication, teamwork, and problem-solving skills [11] - The recruitment process includes online applications, assessments, written tests, interviews, and internship evaluations, with deadlines and specific dates provided [14][15] Group 3 - The company offers customized training programs to support the growth of new hires, including the "New Sailing Plan" and "Wealth Star Training Camp," focusing on marketing skills and practical experience [13] - There is a clear career development path within the company, allowing employees to advance through various roles, from customer managers to senior management positions [13]

Group 1 - The company Shenyin Wanguo Securities Co., Ltd. completed the issuance of subordinated bonds on September 15, 2025, with a total issuance scale of RMB 3 billion [1] - The first type of bond has an issuance scale of RMB 2 billion, a term of 3 years, and a coupon rate of 2.15% [1] - The second type of bond has an issuance scale of RMB 1 billion, a term of 5 years, and a coupon rate of 2.24% [1] Group 2 - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting September 19, 2025, and will be traded among institutional investors [1] - The first type of bond is referred to as "25申证C1" with the bond code "524428," while the second type is referred to as "25申证C2" with the bond code "524429" [1]

Group 1 - The company, Shenwan Hongyuan, announced the completion of the issuance of subordinated bonds by its subsidiary, Shenwan Hongyuan Securities Co., Ltd., aimed at professional investors, on September 15, 2025 [1] - The total issuance scale of the bonds is RMB 3 billion, with the first type having an issuance scale of RMB 2 billion, a term of 3 years, and a coupon rate of 2.15% [1] - The second type has an issuance scale of RMB 1 billion, a term of 5 years, and a coupon rate of 2.24% [1] Group 2 - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting September 19, 2025, and will be traded among institutional investors [1] - The first type of bond is referred to as "25申证C1" with the bond code "524428", while the second type is referred to as "25申证C2" with the bond code "524429" [1]

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 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年面向專業投資者公開發行次級債券（第一期）在深圳證券交易所上市的公告》，僅 供參閱。 承董事會命 申萬宏源集團股份有限公司 董事長 劉健 北京，2025年9月22日 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 2025 年面向专业投资者 公开发行次级债券（第一期）（以下简称"本期债券"）发行工作于 2025 年 9 月 15 日完成。本期债券发行规模人民币 30 亿元，其中品 种一发行规模人民 ...

证券代码：000166 证券简称：申万宏源 公告编号：临2025-76 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 发行次级债券（第一期）在深圳证券交易所上市的公告 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 2025 年面向专业投资者 公开发行次级债券（第一期）（以下简称"本期债券"）发行工作于 2025 年 9 月 15 日完成。本期债券发行规模人民币 30 亿元，其中品 种一发行规模人民币 20 亿元，期限 3 年，票面利率为 2.15%；品种 二发行规模人民币 10 亿元，期限 5 年，票面利率为 2.24%。（相关情 况请详见公司于 2025 年 9 月 17 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） 经深圳证券交易所审核，本期债券定于 2025 年 9 月 19 日起在深 圳证券交易所上市，面向专业投资者中的机构投资者交易，本期债券 品种一债券简称"25 申证 C1"，债券代码为 ...

Group 1 - The report emphasizes the importance of identifying the current market state, either "trend" or "oscillation," to aid in timing and stock selection strategies [2][6][48] - A two-phase, layered diagnostic algorithm is employed to define the index state, utilizing a "zig-zag" algorithm combined with breakpoint correction for historical performance analysis [2][9][10] - The study constructs six feature variables from price, volume, and volatility dimensions to capture market trend changes and emotional fluctuations, achieving over 80% accuracy in predicting future market states with various machine learning models [2][26][27] Group 2 - The report outlines a dynamic position management strategy based on model predictions, switching between "momentum" logic in trend states and "mean reversion" logic in oscillation states [2][46] - The decision tree model-driven strategy yielded a total return of 77.26% and a Sharpe ratio of 1.12 during the backtesting period from 2020 to 2025, significantly outperforming the buy-and-hold benchmark [2][49][70] - The report highlights the effectiveness of the decision tree model in accurately signaling market states, leading to robust returns and risk management during market downturns [2][46][70]

Core Viewpoint - Haixiang New Materials (海象新材) is currently experiencing a decline in stock price, with a closing price of 20.50 yuan, reflecting a drop of 3.76% and indicating a state of being below its initial public offering (IPO) price [1] Company Overview - Haixiang New Materials was listed on the Shenzhen Stock Exchange on September 30, 2020, with an IPO price of 38.67 yuan per share [1] - The company issued a total of 18.34 million shares during its public offering, with the underwriting and sponsorship handled by Shenwan Hongyuan Securities [1] Financial Highlights - The total amount raised during the IPO was 709 million yuan, with a net amount of 614 million yuan after deducting issuance costs [1] - The allocation of the raised funds includes 475 million yuan for the construction of a production base for 20 million square meters of PVC flooring, 59.88 million yuan for the establishment of a research and development center, and 80 million yuan for working capital [1]

Core Viewpoint - Shenwan Hongyuan Hong Kong (00218) announced the resignation of Mr. Tan Weijun from his positions as Executive Director, member of the Executive Director Committee, and member of the Risk Committee due to reaching retirement age, effective from September 22, 2025 [1] Company Summary - Mr. Tan Weijun's resignation is part of the company's succession planning as he has reached the retirement age [1]

Core Viewpoint - Shenwan Hongyuan Hong Kong (00218) announced the resignation of Mr. Tan Weijun from his positions as Executive Director, member of the Executive Director Committee, and member of the Risk Committee due to reaching retirement age, effective from September 22, 2025 [1] Company Summary - Mr. Tan Weijun's resignation is part of the company's leadership transition as he reaches retirement age [1] - The effective date of the resignation is set for September 22, 2025, indicating a planned succession process [1]