证券代码：000783 证券简称：长江证券 公告编号：2025-044 债券代码：148813 债券简称：24 长江 02 长江证券股份有限公司 2024 年面向专业投资者公开发行公 司债券（第二期）2025 年付息公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： ●债券简称及代码：24 长江 02（148813） ●债权登记日：2025 年 7 月 14 日 ●债券付息日：2025 年 7 月 15 日 长江证券股份有限公司（以下简称"发行人"或"本公司"）发 行的长江证券股份有限公司 2024 年面向专业投资者公开发行公司债 券（第二期）（以下简称"本期债券"）将于 2025 年 7 月 15 日支付 2024 年 7 月 15 日至 2025 年 7 月 14 日期间的利息。为保证本次付息 工作的顺利进行，现将有关事宜公告如下： 一、本期债券基本情况 1、发行人：长江证券股份有限公司。 2、债券名称：长江证券股份有限公司 2024 年面向专业投资者公 开发行公司债券（第二期）。 1 3、债券简称及代码：24 长江 02（148813）。 ...

Core Viewpoint - The role of securities brokers is gradually fading in the securities industry, with a significant reduction in their numbers over the years, reflecting a shift towards wealth management and a changing market demand [1][3][12]. Group 1: Decline in Securities Brokers - The number of securities brokers has decreased from 90,500 in early 2018 to 28,800 by the end of 2024, with projections indicating a further decline to 25,000 by 2025 [1][6]. - As of now, only two firms, Guotai Junan Securities and Founder Securities, have over 1,000 brokers, highlighting the shrinking pool of brokers in the industry [1][5]. Group 2: Reasons for the Decline - The decline is attributed to four main factors: the transition of brokers to client manager roles, the aging workforce leading to retirements, the shift towards investment advisory roles, and the departure of brokers seeking alternative career paths due to declining commission rates [3][4][8]. - The average commission rate in the industry has dropped from 0.038% in early 2018 to approximately 0.018% by 2024, significantly impacting brokers' income [6][10]. Group 3: Transition to Wealth Management - The industry is moving towards a wealth management model, emphasizing professional investment advice and asset allocation services, which has increased the demand for investment advisors [6][10]. - The number of investment advisors has grown from 47,200 in early 2018 to 80,300 by the end of 2024, indicating a shift in focus from traditional brokerage services to advisory roles [11]. Group 4: Future Outlook - Many firms are planning to eliminate the broker role entirely, transitioning to client manager or investment advisor teams to better meet market demands [4][12]. - The exit of brokers is seen as a necessary evolution in the industry, aligning with the need for higher-quality, professional financial services to cater to diverse client needs [4][12].

Group 1 - The company, Changjiang Securities, will pay the principal and interest of its corporate bonds on July 11, 2025, with a total amount of 1,029.70 yuan (including tax) [1][2] - Individual bondholders will receive a net amount of 1,023.76 yuan after a 20% personal income tax deduction on the interest [2] - The company has appointed China Securities Depository and Clearing Corporation Limited Shenzhen Branch to handle the payment of principal and interest for this bond [2] Group 2 - The tax policy for foreign institutional investors in the domestic bond market allows for temporary exemption from corporate income tax and value-added tax on bond interest income until December 31, 2025 [3] - Other bondholders are responsible for self-paying their bond interest income tax [3] Group 3 - Contact information for Changjiang Securities and related institutions is provided for inquiries regarding the bond [4]

证券代码：000783 证券简称：长江证券 公告编号：2025-042 债券代码：149977 债券简称：22 长江 02 长江证券股份有限公司 2022 年面向专业投资者公开发行公 司债券（第二期）2025 年本息兑付及摘牌公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： ●债券简称及代码：22 长江 02（149977） ●债权登记日：2025 年 7 月 10 日 ●最后交易日：2025 年 7 月 10 日 ●本息兑付日：2025 年 7 月 11 日 ●债券摘牌日：2025 年 7 月 11 日 长江证券股份有限公司（以下简称"发行人"或"本公司"）发 行的长江证券股份有限公司 2022 年面向专业投资者公开发行公司债 券（第二期）（以下简称"本期债券"）将于 2025 年 7 月 11 日支付 2024 年 7 月 11 日至 2025 年 7 月 10 日期间的利息及本期债券的本金。 为保证本次本息兑付工作的顺利进行，现将有关事宜公告如下： 一、本期债券基本情况 1 1、发行人：长江证券股份有限公司。 2、债券名称：长江证券股份有 ...

证券代码：000783 证券简称：长江证券 公告编号：2025-043 长江证券股份有限公司 2025 年面向专业投资者 公开发行公司债券（第二期）发行结果公告 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。 长江证券股份有限公司（以下简称"发行人"）公开发行不超过 200 亿元公 司债券已获得中国证券监督管理委员会"证监许可〔2023〕2330 号"文注册。根 据《长江证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第二期） 发行公告》，长江证券股份有限公司 2025 年面向专业投资者公开发行公司债券 （第二期）（以下简称"本期债券"）发行规模为不超过 15.00 亿元（含），发行价 格为每张 100 元，采取网下面向专业机构投资者询价配售的方式。 本期债券发行时间为 2025 年 7 月 8 日至 2025 年 7 月 9 日，具体发行情况 如下： 最终本期债券发行规模为 15 亿元，票面利率为 1.70%，认购倍数为 4.25。 1 2025-2065 ( 本页无正文, 为《长江证券股份有限公司 2025 年面向专业投资者公开发行公 司债券（ ...

Core Insights - The first "Top Leadership Ranking of Listed Securities Firms" has been released, evaluating 50 listed securities firms based on their revenue scale for 2024, categorizing them into three groups: comprehensive securities firms, industry-specific development firms, and growth development firms [1][5] - The evaluation considers multiple dimensions including performance, peer evaluation, and online presence, with a scoring model that includes foresight, control, innovation, compliance, and influence [1][10] Group 1: Leadership Evaluation - Liu Yuanrui from Changjiang Securities scored 87.88 in peer evaluation, ranking 12th in the industry, with the highest score in compliance at 90.34 and the lowest in innovation at 83.42 [1][4] - In the foresight dimension, Liu ranked 14th in the industry with a minimum score of 6; in control, he ranked 11th with a minimum score of 7; in innovation, he ranked 21st with a minimum score of 4; in compliance, he ranked 12th with a minimum score of 6; and in influence, he also ranked 12th with a minimum score of 6 [2][10] Group 2: Company Profile - Liu Yuanrui, born in 1982, holds a master's degree in management and has held various positions within Changjiang Securities, including analyst, vice president, and president [4][6] - He has been in his current role since December 2017 and is also a member of the company's strategic and ESG committee and risk management committee [4][6] Group 3: Financial Performance - Changjiang Securities reported a revenue growth rate of -1.46% and a net profit growth rate of 18.52% [9] - The return on assets (ROA) was 1.07%, and the return on equity (ROE) was 4.97% [9] - Total asset growth rate was 0.61%, while net asset growth rate was 13.09% [9] - Brokerage business profit margin was 80.17%, ranking 6th in the industry; investment banking business profit margin was -20.42%, ranking 36th; proprietary business yield was 0.96%, ranking 50th; and asset management business profit margin was 38.59%, ranking 21st [9]

Group 1 - Liu Yuanrui, General Manager of Changjiang Securities, ranked 5th in the "Top Leaders in Listed Securities Firms" list, which recognizes outstanding contributions and influence in the industry [1][13] - The ranking is based on a comprehensive evaluation system that includes industry data, peer evaluations, and online presence, focusing on creating economic and social value [1][13] - The evaluation model includes various dimensions such as foresight, influence, control, innovation, and compliance, with specific weightings assigned to each [4][6][7] Group 2 - In terms of industry data evaluation, Changjiang Securities scored 71.35, ranking 28th among 50 listed securities firms and 6th among 9 participating firms in the industry [13] - The peer evaluation score was 87.23, placing Changjiang Securities 12th among 50 listed firms and 3rd among the 9 industry-specific firms [13] - The online presence evaluation yielded a score of 79.58, ranking 28th among 50 listed firms and 5th among the 9 industry-specific firms [13]

Core Viewpoint - The "2025 Jin Changjiang Private Equity Fund Development Forum" marks a significant milestone in the development of China's capital market, celebrating ten years of progress in the private equity industry, which has shifted focus from quantity growth to quality enhancement [1][2] Group 1: Industry Transformation - The private equity industry has undergone a transformation driven by regulatory guidance, market innovation, and proactive changes, emphasizing high-quality development [1] - Investment strategies have diversified, with quantitative and subjective strategies coexisting, and new production capabilities in digital economy and artificial intelligence becoming focal points [1] - The private equity sector plays a crucial role as a "stabilizer" and "accelerator" in the capital market, aiding capital formation, serving the real economy, meeting wealth management needs, and improving market pricing efficiency [1] Group 2: Longjiang Securities' Role - Longjiang Securities has empowered the growth of private equity institutions by leveraging its full-license professional advantages and integrating resources across the entire business chain [2] - The company has established a "research and investment community" to enhance investment tools and trading strategies, allowing for precise market and industry insights [2] - Longjiang Securities has created a multi-layered, full-cycle funding service system in collaboration with strategic partners, utilizing a data-driven approach to optimize private equity operations and risk control [2]

证券代码：000783 证券简称：长江证券 公告编号：2025-041 （以下无正文） 1 2025-2065 （本页无正文，为《长江证券股份有限公司 2025 年面向专业投资者公开发行公 司债券（第二期）票面利率公告》之盖章页） 长江证券股份有限公司 2025 年面向专业投资者 公开发行公司债券（第二期）票面利率公告 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。 长江证券股份有限公司（以下简称"发行人"）公开发行不超过人民币 200 亿元公司债券已获得中国证券监督管理委员会"证监许可〔2023〕2330 号"文注 册。长江证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第二期） （以下简称"本期债券"）发行规模为不超过 15.00 亿元（含）。 2025 年 7 月 7 日，发行人和主承销商在网下向专业机构投资者进行了票面 利率询价，本期债券利率询价区间为 1.30%-2.30%。根据网下向专业机构投资者 询价结果，经发行人和主承销商充分协商和审慎判断，最终确定本期债券票面利 率为 1.70%。 发行人将按上述票面利率于 2025 年 7 月 ...

关于延长长江证券股份有限公司 2025 年面向专业投资者公开发 行公司债券（第二期）簿记建档时间的公告 长江证券股份有限公司（以下简称"发行人"或"公司"）面向专业机构投 资者公开发行面值不超过 200 亿元的公司债券已获得中国证券监督管理委员会 "证监许可〔2023〕2330 号"文同意注册。 根据《长江证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第 二期）发行公告》，发行人及簿记管理人原定于 2025 年 7 月 7 日 15:00 至 18:00 以簿记建档的方式向网下投资者进行利率询价，并根据簿记建档结果在预设的利 率区间内确定本期债券的最终票面利率。 因簿记建档当日债券市场变化较为剧烈，经发行人、簿记管理人及其他簿记 参与方协商一致，现将簿记建档结束时间由 2025 年 7 月 7 日 18:00 延长至 2025 年 7 月 7 日 19:00。 1 2025-2065 （本页无正文，为《关于延长长江证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第二期）簿记建档时间的公告》之盖章页） 发行人: 日 . （本页无正文，为《关于延长长江证券股份有限公司 2025 年 ...