Core Points - The company has received approval from the China Securities Regulatory Commission (CSRC) for the public issuance of corporate bonds to professional investors [1] - The total face value of the bonds to be issued will not exceed 20 billion yuan [1] - The approval is valid for 24 months from the date of registration, allowing the company to issue bonds in multiple tranches during this period [1]

Core Viewpoint - Changjiang Securities has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue corporate bonds with a total face value of up to 20 billion yuan to professional investors [1] Summary by Categories Regulatory Approval - The CSRC has granted Changjiang Securities the approval for the registration of corporate bonds [1] - The approval allows the company to issue bonds within a validity period of 24 months from the date of registration [1] Financial Details - The total face value of the corporate bonds that can be issued is capped at 20 billion yuan [1] - The company has the option to issue the bonds in multiple tranches during the registration validity period [1]

Core Points - The China Securities Regulatory Commission (CSRC) has approved Changjiang Securities' application for the public issuance of corporate bonds to professional investors, with a total face value not exceeding 20 billion yuan [1] Group 1 - Changjiang Securities received approval from the CSRC for the issuance of corporate bonds [1] - The total face value of the bonds to be issued is capped at 20 billion yuan [1]

证券代码：000783 证券简称：长江证券 公告编号：2025-058 长江证券股份有限公司 1 二〇二五年九月三十日 2 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 近日，长江证券股份有限公司（以下简称"公司"）收到中国证 券监督管理委员会（以下简称"中国证监会"）《关于同意长江证券 股份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〔2025〕2145 号，以下简称"批复"）。 根据该批复，中国证监会同意公司向专业投资者公开发行面值总 额不超过 200 亿元公司债券的注册申请。该批复自同意注册之日起 24 个月内有效，公司在注册有效期内可以分期发行公司债券；公司本次 发行公司债券应严格按照报送深圳证券交易所的募集说明书进行；自 同意注册之日起至本次公司债券发行结束前，公司如发生重大事项， 应及时报告中国证监会并按有关规定处理。 公司将按照有关规定、批复要求及公司股东大会的授权，办理本 次公司债券发行的相关事宜，并及时履行信息披露义务。 特此公告 长江证券股份有限公司董事会 关于向专业投资者公开发行公司债券 获得中国证券监督管理委员会注册批复 ...

Group 1: Company Overview - Honglin Mining's Caiyuanzi Copper-Gold Mine is located in the southern segment of the Ganzi-Litang-Muli fault zone, characterized by easily selectable ore with low carbon and arsenic content, allowing for controllable costs. The company anticipates product output during the trial production phase, with specific production figures to be detailed in the 2025 annual report [1] - The company has been focusing on acquiring high-quality precious metal resources, particularly silver and gold, with plans to acquire operating or planned mines that have mining licenses and a service life exceeding 15 years. The acquisition strategy considers pricing and industry cycles to avoid high-cost purchases, with potential overseas acquisitions planned after stable development [2] Group 2: Production Plans - Dongsheng Mining has obtained a mining license for the Bayannur Silver-Polymetallic Mine, with a production scale of 250,000 tons per year and an estimated silver metal reserve of 556.32 tons at an average grade of 284.90 grams per ton. The company aims to commence production by 2026 without the need for a processing plant or tailings dam, planning to outsource processing to its subsidiary [3] - After the production of Honglin Mining and Dongsheng Mining, the company's main products will include silver-lead concentrate, silver-zinc concentrate, gold-silver concentrate, copper-gold concentrate, and a small amount of silver and gold ingots [4] Group 3: Capacity and Future Outlook - Both Guangda Mining and Jindu Mining have a registered production capacity of 300,000 tons per year and are currently operating at full capacity [5] - The production of silver metal is expected to increase following Dongsheng Mining's production launch, with Jinshan Mining's capacity gradually increasing to 480,000 tons per year and potential expansion applications. Silver Capital Mining is in the process of integrating mining rights and surrounding exploration rights, which is expected to enhance production after completion [6] Group 4: Financial and Operational Insights - The company's mining subsidiaries have seen a significant increase in royalty and other tax payments compared to the same period last year, with details available in the 2025 semi-annual report. Future tax payments will depend on local policies [7] - Jinshan Mining faced delays in processing operations due to cold weather in northeastern Inner Mongolia, resulting in later processing plant operations and product sales primarily occurring in the third quarter. The company plans to adjust processing times flexibly in the future [7]

从资金流向上来看，当日证券板块主力资金净流入111.44亿元，游资资金净流出40.14亿元，散户资金净 流出71.3亿元。证券板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000776 | 广发证券 | 22.95 | 10.02% | 200.76万 | 45.00 乙 | | 601688 | 华泰证券 | 21.77 | 10.01% | 298.63万 | 63.31亿 | | 002670 | 国盛金控 | 22.13 | 9.99% | 144.63万 | 30.98亿 | | 600095 | 湘财股份 | 13.56 | 6.94% | 261.11万 | 34.85 Z | | 600958 | 东方证券 | 11.46 | 6.90% | 340.08万 | 38.32亿 | | 601555 | 东吴证券 | 9.87 | 6.24% | 192.34万 | 18.77亿 | | 600030 | 中信证券 | 30.41 | 5.88% | 5 ...

Market Overview - A-shares experienced a significant rise, with the ChiNext Index increasing by 2.75% and the Shanghai Composite Index closing at 3862.53 points, up 0.90% [1][2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.16 trillion yuan, an increase of 146 billion yuan compared to the previous trading day [2] Sector Performance - The brokerage sector, often seen as a "bull market flag bearer," surged by 4.89%, with notable individual stocks like Huatai Securities and GF Securities hitting the daily limit [3][4] - The precious metals sector rose by 4.3%, with spot gold breaking through the $3810 mark, setting a new historical high [7][9] - The solid-state battery index saw a strong increase, with related stocks like EVE Energy rising by 8.3% [10][11] Individual Stock Highlights - Key brokerage stocks such as GF Securities and Huatai Securities saw gains of over 10% [4] - In the precious metals sector, Shengda Resources hit the daily limit, while other stocks like Zhaojin Mining and Xiaocheng Technology rose over 6% [8] - In the solid-state battery sector, Tian Nai Technology surged by 14.36%, and several other stocks achieved significant gains [12] Economic Indicators - The People's Bank of China emphasized the importance of maintaining capital market stability during its recent monetary policy meeting [5] - The fiscal revenue from securities transaction stamp duty reached 118.7 billion yuan, a year-on-year increase of 81.7% [5]

Market Overview - The A-share market saw all three major indices rise, with the ChiNext Index increasing by 2.75% and the Shanghai Composite Index closing at 3862.53 points, up 0.90% [1][4] - The total trading volume in the Shanghai and Shenzhen markets reached 2.16 trillion yuan, an increase of 146 billion yuan compared to the previous trading day [4] Sector Performance - The brokerage and precious metals sectors led the market gains, with the brokerage sector rising by 4.89% and the precious metals sector increasing by 4.3% [4][12] - Solid-state battery and lithium battery-related sectors also performed well, with the solid-state battery index surging [17] Brokerage Stocks - Brokerage stocks experienced a significant afternoon rally, with major players like Huatai Securities and GF Securities hitting the daily limit of 10% [7][8] - The average daily trading volume and margin financing indicators for brokerages reached historical highs, indicating strong market activity [10] Precious Metals - The precious metals sector saw notable increases, with spot gold breaking through the $3810 mark, reaching a new historical high of $3813.93 per ounce [11][12] - Key stocks in the precious metals sector, such as Shengda Resources and Zhaojin Mining, recorded substantial gains [12][13] Solid-State Battery Sector - The solid-state battery index showed strong performance, with companies like EVE Energy and Ganfeng Lithium seeing significant stock price increases [18][19] - Research advancements in solid-state battery technology from Tsinghua University contributed to the sector's positive momentum [20]

Market Overview - On September 29, A-shares experienced a significant rally, with the Shanghai Composite Index rising by 0.90%, the Shenzhen Component Index by 2.05%, and the ChiNext Index by 2.74%. The total trading volume reached 2.18 trillion yuan, with over 3,500 stocks advancing [2] - The FTSE China A50 Index futures saw an increase of over 2% at one point during the day [2] Financial Sector Performance - Financial stocks, particularly brokerage firms, surged in the afternoon, with notable gains from Guangfa Securities, Huatai Securities, and Guosheng Financial, all hitting the daily limit up. Other securities firms like Xiangcai Securities and Dongfang Securities also showed strong performance [4][5] - The Securities ETF (159841) recorded an intraday increase of up to 7.14% [4] Foreign Investment Trends - Foreign investors have shown a bullish stance, with significant inflows into products tracking Hong Kong and mainland Chinese stocks and bonds. As of September 19, the inflow into these products was the largest among emerging markets [7] - Morgan Stanley reported that foreign long funds had an inflow of $1 billion by the end of August, a stark contrast to the $17 billion outflow in the previous year [7] Mergers and Acquisitions in Brokerage Sector - The brokerage sector is undergoing accelerated consolidation, with notable mergers such as Xiangcai Securities and Dazhihui, as well as other rapid advancements in merger proposals among major brokerages [7] Outlook for Brokerage Firms - According to Open Source Securities, the trading activity and margin financing scale in Q3 have significantly increased, suggesting that the performance of brokerages in their Q3 reports is likely to show substantial year-on-year growth. The outlook for investment banking, derivatives, and public fund businesses is expected to improve [8] Precious Metals Market - On the same day, international gold prices reached a new historical high, surpassing $3,815 per ounce, with a year-to-date increase of approximately 45% [9] - The precious metals sector saw significant gains, with companies like Shengda Resources and Zhaojin Mining leading the charge [11][12] - Market analysts attribute the rise in gold prices to lower opportunity costs due to interest rate cuts, a weaker dollar, and heightened geopolitical tensions in the Middle East [12]

Market Performance - On September 29, A-shares experienced a significant rally, with the Shanghai Composite Index rising by 0.90%, the Shenzhen Component Index increasing by 2.05%, and the ChiNext Index climbing by 2.74% [1][2] - The total trading volume reached 2.18 trillion yuan, with over 3,500 stocks advancing [1][2] Sector Performance - The financial sector, particularly brokerage firms, saw substantial gains, with stocks like GF Securities, Huatai Securities, and Guosheng Financial hitting the daily limit [4][5] - The gold and precious metals sector also surged, with international gold prices reaching a new high of over $3,815 per ounce, marking a year-to-date increase of approximately 45% [8][10] Foreign Investment Trends - Foreign investors have shown a bullish stance, with significant inflows into products tracking Chinese stocks and bonds, amounting to $1 billion by the end of August [7] - Over 90% of clients expressed interest in increasing exposure to Chinese markets during recent roadshows, indicating a strong recovery in foreign interest [7] Regulatory and Industry Developments - The central bank emphasized the need for a moderately loose monetary policy to support financial institutions in increasing credit supply, which is expected to stabilize the capital market [6] - The brokerage industry is undergoing accelerated consolidation, with several merger proposals in progress, potentially increasing the concentration of leading firms [6] Gold Market Insights - The rise in gold prices is attributed to lower opportunity costs due to interest rate cuts and a weaker dollar, alongside heightened geopolitical tensions in the Middle East [10]