长江证券股份有限公司全面风险管理制度 （经 2025 年 8 月 29 日公司第十届董事会第二十次会议审议通过） 第一章 总 则 第一条 【制定依据】为加强长江证券股份有限公司（以下简称 "公司"）全面风险管理，保障公司规范经营和各项业务持续稳健发 展，积极践行"合规、诚信、专业、稳健"的证券行业核心价值观， 根据《中华人民共和国证券法》《证券公司监督管理条例》《证券公司 风险控制指标管理办法》《证券公司全面风险管理规范》等法律法规、 监管规定及自律规则，制定本制度。 第二条 【基本定义】本制度所称全面风险管理，是指公司董事 会、经理层以及全体员工共同参与，对公司经营中面临的流动性风险、 市场风险、信用风险、操作风险、声誉风险、信息技术风险、洗钱风 险、廉洁从业风险等各类风险，进行准确识别、审慎评估、动态监控、 及时报告、妥善应对及全程管理。 第三条 【管理目标】公司的全面风险管理目标是建立健全全面 风险管理体系，确保承受的风险与总体发展战略目标相适应。 公司的全面风险管理体系包括可操作的管理制度、健全的组织架 构、可靠的信息技术系统、量化的风险指标体系、专业的人才队伍、 有效的风险应对机制以及良好的风险管理 ...

证券代码 00000088 证券简称:长江证券 长江证券股份有限公司 2025年 半年度报 o to o a 98000 9 3 9 5 管 # 重要提示 三录和释义 . . . . . . . . . . e a . . . . . . . . . . . . . . 1244 ���������������������������� . . . . . . ** ·· . . . . . . . . . . . . . . . · · 6 8.0 .. · 00000000000 - 6- · DOGOOD THE · · -- - 0 0 0 0 0 0 0 0 0 0 0 0 0 - · 0 8 3 . 0 . 0 . 0 . 0 . . . . . . . . . · · · ●●●●●· · ●●●●●●●● · · · · · ● ● ● ● ● ● ● ● ● ● .. - 0 0 0 0 0 0 0 0 0 0 0 0 0 . · · · · ·· · 0 . 0 . 0 . . . . . 0 020 · · 1990-0 · · ....... · · . . . . . . 000-0 ...

Market Overview - On August 29, the securities sector rose by 0.01% compared to the previous trading day, with Huaxi Securities leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Individual Stock Performance - Huaxi Securities (002926) closed at 10.82, with a gain of 3.64% and a trading volume of 1.42 million shares, totaling a transaction value of 15.59 billion [1] - Dongfang Caifu (300059) closed at 28.91, up 3.40%, with a trading volume of 11.32 million shares and a transaction value of 324.03 billion [1] - CITIC Securities (601066) closed at 28.36, gaining 3.20%, with a trading volume of 656,200 shares and a transaction value of 18.63 billion [1] - Other notable performers include Zhongyin Securities (601696) with a 1.51% increase and a closing price of 16.15, and Changjiang Securities (000783) with a 0.94% increase and a closing price of 8.55 [1] Fund Flow Analysis - The securities sector experienced a net outflow of 1.183 billion from institutional funds, while retail investors saw a net inflow of 1.103 billion [2] - The main funds showed a significant net inflow in Dongfang Caifu (30.58 billion) and CITIC Securities (1.27 billion), while experiencing outflows in several other stocks [3] - Retail investors contributed positively to the net inflow in stocks like Huaxi Securities and Changjiang Securities, despite overall institutional outflows [3]

Group 1 - A-shares of brokerage stocks have risen, with Huaxi Securities increasing by over 6% [1] - Guosheng Financial Holdings, Guolian Minsheng, and CITIC Securities have all risen by over 2% [1] - Other notable increases include Guojin Securities, GF Securities, China Galaxy, Guotai Junan, Zhongyin Securities, and Changjiang Securities, all rising by over 1% [1] Group 2 - Huaxi Securities has a market value of 29.1 billion and a year-to-date increase of 34.48% [2] - Guosheng Financial Holdings has a market value of 38.4 billion and a year-to-date increase of 51.57% [2] - Guolian Minsheng has a market value of 71 billion but a year-to-date decrease of 7.12% [2] - CITIC Securities has a market value of 217.6 billion and a year-to-date increase of 9.57% [2] - Guojin Securities has a market value of 38.8 billion and a year-to-date increase of 21.28% [2] - GF Securities has a market value of 167.7 billion and a year-to-date increase of 39.22% [2] - China Galaxy has a market value of 203.7 billion and a year-to-date increase of 23.74% [2] - Guotai Junan has a market value of 375.8 billion and a year-to-date increase of 15.90% [2] - Zhongyin Securities has a market value of 44.7 billion and a year-to-date increase of 44.25% [2] - Changjiang Securities has a market value of 47.3 billion and a year-to-date increase of 28.35% [2]

Group 1 - A-share brokerage stocks have seen significant increases, with Huaxi Securities rising over 6% and several others, including Guosheng Financial Holdings and Zhongxin Jinkong, increasing by more than 2% [1] - The following are the performance metrics of selected brokerage stocks: - Huaxi Securities: 6.23% increase, market cap of 29.1 billion, year-to-date increase of 34.48% - Guosheng Financial Holdings: 2.80% increase, market cap of 38.4 billion, year-to-date increase of 51.57% - Guolian Minsheng: 2.38% increase, market cap of 71 billion, year-to-date decrease of 7.12% - Zhongxin Jinkong: 2.07% increase, market cap of 217.6 billion, year-to-date increase of 9.57% [2] - Other notable brokerage stocks include: - Guojin Securities: 1.85% increase, market cap of 38.8 billion, year-to-date increase of 21.28% - GF Securities: 1.38% increase, market cap of 167.7 billion, year-to-date increase of 39.22% - China Galaxy: 1.36% increase, market cap of 203.7 billion, year-to-date increase of 23.74% [2] Group 2 - The MACD golden cross signal has formed, indicating a positive trend for these stocks [2]

每经AI快讯，博士眼镜（SZ 300622，收盘价：36.75元）发布公告称，2025年8月28日，博士眼镜接受 长江证券等投资者调研，公司董事会秘书、副总经理丁芸洁等人参与接待，并回答了投资者提出的问 题。 2025年1至6月份，博士眼镜的营业收入构成为：零售行业-线上占比83.21%，零售行业-线下占比 16.79%。 截至发稿，博士眼镜市值为84亿元。 每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 王晓波） ...

格隆汇8月28日｜长江证券研报指出，2025年上半年牧原股份企业自由现金流达到87 亿元，同比增长 58%。现金流水平的增长得益于公司成本优势突出、利润大幅增长、现金流入水平持续提升与资本开支 进一步下降。而且，考虑应付款显著压降的背景下，公司今年上半年经营性现金流入增加水平是高于表 观水平的。长期来看，伴随公司净利润稳步提升与资本开支持续下降，预计其自由现金流将持续大幅改 善，股东回报将更丰厚，公司估值可转换为价值视角的自由现金流体系。牧原股份已由高成长发展阶段 步入高质量发展阶段，进一步提升效率，深挖成本，降低负债，提升自由现金流，牧原股份国内业务将 进入更加健康的高质量发展阶段；而海外市场，牧原将有望续写新的成长篇章，重点推荐。 ...

Group 1 - Some brokerage stocks experienced an increase, with Xinda Securities rising over 5% [1] - Great Wall Securities and Guosheng Jinkong both saw increases of over 3% [1] - Jinlong Co. rose over 2%, while several other securities firms, including GF Securities, First Capital, and Everbright Securities, increased by over 1% [1]

Group 1 - A-share market sees a rise in several brokerage stocks, with Xinda Securities increasing by over 5% [1] - Changcheng Securities and Guosheng Financial Holdings both rise by over 3% [1] - Jinlong Co., Ltd. experiences an increase of over 2% [1] Group 2 - Other notable gains include GF Securities, First Capital, Everbright Securities, Xiangcai Securities, CITIC Securities, Changjiang Securities, Dongwu Securities, Huatai Securities, and Founder Securities, all rising by over 1% [1]

Core Viewpoint - In the first half of 2025, the company reported a net profit of approximately 3.5 billion yuan, with significant contributions from its pig farming business, while the chicken and waterfowl sectors faced losses [1][2]. Production and Operational Performance - The pig farming business generated a profit of about 5.1 billion yuan, while the chicken business incurred a loss of around 1.2 billion yuan, including a 500 million yuan inventory impairment [1] - In the second quarter, the company achieved a net profit of approximately 1.5 billion yuan, with the pig farming sector contributing about 2.6 billion yuan and the chicken sector facing a loss of 900 million yuan [1] - From January to July, the company sold 21.1 million pigs and 709 million chickens, with a fresh product sales ratio of 17% for chickens [1] Cost Management and Efficiency - The average cost of pig farming was reduced to 6.2 yuan per jin in the first half of 2025, with a further decrease to 6.1 yuan per jin in July [2][4] - The company implemented various cost-reduction measures, including optimizing feed formulations and enhancing disease prevention efforts [4] Financial Health - The company's asset-liability ratio decreased to 50.6% by the end of June 2025, down 2.8% from the end of the previous year, with a target to further reduce it to around 45% [3][5] - The company plans to invest approximately 5 billion yuan in fixed assets in 2025, with significant allocations for both pig and chicken businesses [5] Future Outlook - The chicken business is expected to recover profitability due to seasonal demand, with a positive outlook for the second half of the year [4] - The company aims for an annual growth rate of 5% to 10% by expanding its fresh product and cooked food segments [4]