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。 国元证券股份有限公司（以下简称公司）于近日收到中国证券监督管理委员会 （以下简称中国证监会）出具的《关于核准国元证券股份有限公司上市证券做市交 易业务资格的批复》（证监许可〔2024〕1038 号），中国证监会核准公司上市证券 做市交易（限于上市股票做市交易）业务资格。 证券代码：000728 证券简称：国元证券 公告编号：2024－022 国元证券股份有限公司 关于上市证券做市交易业务资格获批的公告 特此公告。 国元证券股份有限公司董事会 2024年7月12日 1 公司将严格按照有关规定和上述批复的要求,做好开展该项业务的各项工作。 ...

[Table_Main] 公司研究|可选消费|汽车与汽车零部件 证券研究报告 比亚迪(002594)公司首次覆盖报 2024年06月23日 告 [Table新_Tit能le]源 车领军企业，剑指海外市场 [Table 买_Inv 入est] | 首次推荐 ——比亚迪(002594)首次覆盖报告 [报Ta告bl要e_S点um：ma ry] [当T前ab价le/_目Ta标r价ge：tP 2r5i0c.e6]7 元/315.90元  公司是国内新能源车领军企业，产能渠道布局领先 目标期限： 6个月 公司成立于1995年，凭借多年的技术革新和生产实践，公司已经构建了从 [基T本ab数le据_B ase] 上游电池原材料、IGBT、SiC等关键组件，到中游新能源三电系统、混合动 52周最高/最低价(元)： 272.0 / 167.0 力平台、整车电子、底盘、内饰等核心部件，再到下游汽车销售及金融服务 A股流通股(百万股)： 2260.47 等全产业链的深度研发与精细成本控制能力。产能方面，公司目前国内合 A股总股本(百万股)： 2909.27 计规划产能已达 475 万辆，海外合计规划产能已达 110 万辆。渠道布局 ...

Financial Data and Key Metrics Changes - The Chinese language model market reached a scale of 13.23 billion yuan in 2023, with a projected compound annual growth rate of 50.6% from 2023 to 2027, expecting to exceed 60 billion yuan by 2027 [8][10]. Business Line Data and Key Metrics Changes - Baidu's Wenxin model has seen significant upgrades, with the Wenxin 4.0 model launched in October 2023, claiming capabilities comparable to GPT-4 [15][18]. - iFlytek's Spark model has been upgraded to V3.5 in January 2024, with performance metrics approaching GPT-4 Turbo levels [20][21]. - Alibaba's Tongyi model has been continuously enhanced, with the latest version 2.5 released in May 2024, surpassing GPT-4 Turbo in performance [22][25]. Market Data and Key Metrics Changes - In March-April 2024, Baidu's Wenxin and Kimi (Moonshot) led in AI product access volume, with Kimi experiencing a 60.2% increase in access [11][12]. - The overall activity in the Chinese AI model market is reflected in the access volume data, indicating high user interest and engagement [11][12]. Company Strategy and Development Direction - The industry is witnessing a "hundred model war," with numerous companies launching and upgrading their AI models, indicating a competitive landscape focused on innovation and application [5][8]. - Companies like Tencent and ByteDance are integrating their models into various applications, enhancing user experience and operational efficiency [36][56]. Management Comments on Operating Environment and Future Outlook - Management emphasizes the rapid development of generative AI technologies and the importance of continuous innovation to maintain competitive advantages in the market [5][8]. - The outlook for the AI model market remains positive, with expectations of sustained growth driven by increasing demand across various sectors [8][10]. Other Important Information - The AI model landscape is characterized by significant advancements in capabilities, with models like SenseNova 5.0 and Kimi achieving performance metrics that rival leading global models [33][39]. - The establishment of various partnerships and collaborations among companies is fostering a robust ecosystem for AI development and application [47][49]. Q&A Session Summary Question: What are the key advancements in the AI model landscape? - The AI model landscape has seen significant advancements, with models like Baidu's Wenxin 4.0 and iFlytek's Spark V3.5 achieving capabilities comparable to GPT-4, indicating a competitive edge in the market [15][20]. Question: How is the market responding to these advancements? - The market is responding positively, with increased access volumes for leading AI products like Kimi and Wenxin, reflecting strong user engagement and interest in generative AI technologies [11][12].

证券代码：000728 证券简称：国元证券 公告编号：2024－020 国元证券股份有限公司 2023 年年度权益分派实施公告 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。 国元证券股份有限公司（以下简称本公司或公司）2023 年年度权益分派方 案已获 2024 年 4 月 26 日召开的公司 2023 年度股东大会审议通过，现将权益分 派事宜公告如下： 一、股东大会审议通过权益分派方案等情况 1.公司 2023 年度股东大会审议通过的利润分配方案具体内容为：以公司现 有总股本 4,363,777,891 股为基数，向全体股东每 10 股派发现金红利人民币 1.50 元（含税），合计派发现金人民币 654,566,683.65 元（含税），不送红股， 不以公积金转增股本。 2.自公司 2023 年年度利润分配方案披露至实施期间，公司股本总额未发生 变化；若总股本发生变动的，将按照现金分红总额不变的原则，以分红派息股权 登记日的总股本为基数调整分配比例。 【注：根据先进先出的原则，以投资者证券账户为单位计算持股期限，持股 1 个月（含 1 个月）以内，每 10 ...

各位领导好今天由我来分享一下观点债券市场近期波动总体来说还是不小的从长端与超长来看从四月底调整高点到五月十年期国债活跃券二四零零四波动幅度达到十个比比从高位二点三八到于五月内低点二点二八三十年国债活跃券二三零零二三波动幅度也达到八个比比从四月二十九号一级发飞那一天高位二点六一到月内低点二点五三 相比之下 中短段受到资金面宽松的利好 主流流动性分层消失则表现相对平稳五年期国债24004收益率回到2 1下方三年期国债也回到前期低点1 91附近一年期国股大行存单利率这两天也稳定在208左右从排面表现来看 四月底开启的本轮回调仲价区在长久期与超长久期上 原因上仍旧是超长期特别国债供给与央行对超长利率的指导所引起九七月长的品种跑的就越弱 举个例子二三零零二零零二三三十年国债前期低点在二点四二附近 经过五月反弹收益率仍在二点五上方而五年期国债二四零零零一前期低点在二点零五左右 目前收益率也已经达到二零零九 三年级国债甚至已有突破前期低点1.92的趋势并从收入率回调深度上来看中短久期债券也小于长久期对于后市观点个人认为目前市场的主要矛盾为财政政策明牌后货币政策的应对需要收入率曲线短端空间打开才可带动长端继续下行之前市场对本 ...

行业研究报告 发布时间：2024年5月8日 电动市场需求深化，智能生态加速赋能 ——新能源汽车行业专题报告 ...

Financial Performance - Total revenue for Q1 2024 was CNY 1,404,098,571.89, a decrease of 9.41% compared to CNY 1,549,959,423.68 in the same period last year[3] - Net profit attributable to shareholders was CNY 462,800,660.89, down 10.98% from CNY 519,894,650.43 year-on-year[3] - Basic and diluted earnings per share both decreased by 8.33% to CNY 0.11 from CNY 0.12 year-on-year[4] - The net profit for the first quarter of 2024 was CNY 463,044,213.04, a decrease of 10.96% compared to CNY 520,004,777.03 in the same period last year[21] - The total profit for the first quarter was CNY 526,156,937.14, down from CNY 627,598,512.17, reflecting a decline of 16.14% year-over-year[21] - The operating profit for the first quarter was CNY 527,184,009.09, compared to CNY 627,646,795.29 in the previous year, indicating a decrease of 16.01%[21] - The total comprehensive income for the first quarter was CNY 670,187,297.97, down from CNY 721,802,380.54, representing a decline of 7.14%[21] Cash Flow - The net cash flow from operating activities was CNY 3,452,785,878.75, a significant increase compared to a negative cash flow of CNY -2,390,389,167.40 in the same period last year[7] - The cash flow from operating activities for the first quarter was CNY 3,452,785,878.75, a significant improvement from a negative cash flow of CNY -2,390,389,167.40 in the same period last year[23] - The company reported cash inflows from operating activities totaling CNY 10,183,702,978.79, compared to CNY 3,885,588,309.77 in the previous year, marking an increase of 162.67%[23] - The cash flow from investing activities was negative at CNY -1,165,906,946.17, compared to CNY -30,496,881.67 in the same period last year[24] - The cash flow from financing activities showed a net outflow of CNY -1,458,880,512.62, compared to a net inflow of CNY 1,533,128,422.82 in the previous year[24] Assets and Liabilities - Total assets increased by 5.80% to CNY 140,567,608,204.89 from CNY 132,855,982,495.24 at the end of the previous year[4] - Total liabilities increased to CNY 105,302,229,453.58, up from CNY 98,260,791,041.90, marking a rise of 7.4%[18] - The total equity attributable to shareholders increased to CNY 35,248,812,291.06 from CNY 34,578,867,266.83, reflecting a growth of 1.9%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 105,773, with the largest shareholder, Anhui Guoyuan Financial Holding Group Co., Ltd., holding 21.70% of shares, equating to 946,971,049 shares[9] - Anhui Guoyuan Trust Co., Ltd. holds 13.58% of shares, totaling 592,383,701 shares, making it the second-largest shareholder[9] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 41%[10] Investment and Income - Investment income for Q1 2024 was CNY 489,893,700.02, an increase of 62.96% compared to CNY 300,614,589.68 in the same period last year[7] - Net interest income decreased to CNY 341,972,772.67 from CNY 437,663,995.58, reflecting a decline of 21.8% year-over-year[20] - The company reported investment income of CNY 489,893,700.02, significantly up from CNY 300,614,589.68, representing a growth of 62.9% year-over-year[20] Other Financial Metrics - The return on equity (ROE) decreased to 1.33%, down 0.23 percentage points from 1.56% year-on-year[4] - The company experienced a 119.30% decrease in fair value changes, reporting a loss of CNY -37,939,687.60 compared to a gain of CNY 196,582,579.79 in the same period last year[7] - Other comprehensive income increased by 39.47% to CNY 732,020,944.40 from CNY 524,876,581.06 year-on-year[7] - The company’s cash and cash equivalents stood at CNY 26,053,884,523.58, compared to CNY 25,573,974,530.33 at the beginning of the year, showing a slight increase[17] - The company’s client funds deposits rose to CNY 22,535,746,331.50 from CNY 21,573,685,086.19, an increase of 4.5%[17] Corporate Governance - The company has no overdue commitments from major shareholders or related parties during the reporting period[12] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[13] - The company has not reported any violations regarding external guarantees during the reporting period[13] - The company has not disclosed any related party transactions that could affect its financial position during the reporting period[13] - The company issued four short-term financing bonds in 2024, with amounts of 15 million RMB at interest rates ranging from 2.20% to 2.58%[12] - The company has a total of 15 million RMB in short-term financing bonds maturing in 2024, with varying interest rates[12] - The company participated in investor relations activities, including a performance briefing on April 12, 2024, discussing financial status and operational performance[14]

证券代码：000728 证券简称：国元证券 公告编号：2024－018 国元证券股份有限公司 第十届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 国元证券股份有限公司（以下简称本公司或公司）第十届董事会第十四次会 议通知于 2024 年 4 月 23 日以电子邮件等方式发出，会议于 2024 年 4 月 26 日在 合肥以现场结合视频、通讯表决的方式召开，本次会议应出席的董事 14 人，实 际出席的董事 14 人，其中徐志翰先生、阎焱先生、左江女士通过视频方式出席 会议；许植先生、于强先生、刘超先生、孙先武先生、郎元鹏先生、鲁炜先生通 过通讯表决方式出席会议。本次董事会由董事长沈和付先生主持，本公司监事和 部分高管列席会议。会议的召开符合法律、行政法规、部门规章、规范性文件和 《公司章程》的规定。 二、董事会会议审议情况 本次会议以记名投票的方式审议通过如下决议： （一）审议通过《公司 2023 年第一季度报告》。 表决结果：赞成票【14】票，反对票【0】票，弃权票【0】票，审议通过本 议案。 2024 年 ...

证券代码：000728 证券简称：国元证券 公告编号：2024－017 国元证券股份有限公司 2023 年度股东大会决议公告 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。 特别提示： 1.本次股东大会不存在否决议案的情形。 2.本次股东大会不涉及变更前次股东大会决议。 一、会议通知及公告 2024年3月26日，公司董事会在巨潮资讯网站、《证券时报》《中国证券报》 《上海证券报》和《证券日报》上刊登了《国元证券股份有限公司关于召开2023 年度股东大会的通知》；2024年4月12日，公司董事会在巨潮资讯网站、《证券 时报》《中国证券报》《上海证券报》和《证券日报》上刊登了《国元证券股份 有限公司关于增加2023年度股东大会临时提案的公告》和《国元证券股份有限公 司关于召开2023年度股东大会的补充通知》。 二、会议召开和出席情况 (一)会议召开情况 1.现场会议召开时间： （1）2024年4月26日（星期五）14：30。 （2）网络投票时间：网络投票系统包括深圳证券交易所交易系统和互联网 投票系统（网址：http://wltp.cninfo.com.cn）。通 ...

北京市天元律师事务所 关于国元证券股份有限公司 2023 年度股东大会的法律意见 京天股字（2024）第 129 号 致：国元证券股份有限公司 国元证券股份有限公司（以下简称"公司"）2023 年度股东大会（以下简称"本 次股东大会"）采取现场表决与网络投票相结合的方式，现场会议于 2024 年 4 月 26 日（星期五）14:30 时在安徽省合肥市梅山路 18 号公司七楼会议室召开。北京市天 元律师事务所（以下简称"本所"）接受公司聘任，指派本所律师参加本次股东大会 现场会议，并根据《中华人民共和国公司法》《中华人民共和国证券法》（以下简 称"《证券法》"）《上市公司股东大会规则》（以下简称"《股东大会规则》"）以 及《国元证券股份有限公司章程》（以下简称"《公司章程》"）等有关规定，就本 次股东大会的召集、召开程序、出席现场会议人员的资格、召集人资格、会议表决 程序及表决结果等事项出具本法律意见。 为出具本法律意见，本所律师审查了《国元证券股份有限公司第十届董事会第 七次会议决议公告》《国元证券股份有限公司第十届董事会第十三次会议决议公告》 《国元证券股份有限公司第十届监事会第七次会议决议公告》《国元证券 ...