登录新浪财经APP 搜索【信披】查看更多考评等级 二、经营业绩和财务状况情况说明 报告期内，公司聚焦主责主业，强化功能性定位，坚持高质量展业，继续保持行业领先的市场地位，各 项主要业务实现稳健发展。财富管理、投行等传统优势业务市场地位稳固，投资与交易、资产管理等业 务进步明显，业务发展更加均衡，服务国家战略和实体经济质效进一步提升。2024年，公司实现营业收 入201.67亿元，同比增长16.46%，实现归属于上市公司股东的净利润82.17亿元，同比增长27.84%。 三、与前次业绩预计的差异说明 公司在本次业绩快报披露前，未进行2024年度业绩预计的披露。 证券代码：002736 证券简称：国信证券 公告编号：2025-018 国信证券股份有限公司2024年度业绩快报 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：本公告所载2024年度的财务数据仅为初步核算数据，未经会计师事务所审计，与年度报告中 披露的最终数据可能存在差异，请投资者注意投资风险。 一、2024年度主要财务数据和指标（合并报表） 单位：万元 ■ 四、备查文件 经公司法定代表人张纳 ...

Financial Performance - In 2024, the company achieved operating revenue of CNY 2,016.72 million, a year-on-year increase of 16.46%[4] - The net profit attributable to shareholders of the listed company reached CNY 821.69 million, reflecting a growth of 27.84% compared to 2023[4] - The basic earnings per share increased to CNY 0.72, up 33.33% from CNY 0.54 in the previous year[4] - The net profit after deducting non-recurring gains and losses was CNY 818.26 million, up 27.83% year-on-year[4] Assets and Equity - The total assets of the company as of December 31, 2024, amounted to CNY 50,150.60 million, representing an 8.33% increase from the previous year[4] - The company's equity attributable to shareholders increased to CNY 11,869.20 million, a growth of 7.45% from CNY 11,045.95 million in 2023[4] - The weighted average return on equity rose to 8.23%, an increase of 1.66 percentage points from 6.57% in 2023[4] Business Strategy and Market Position - The company maintained a strong market position in traditional businesses such as wealth management and investment banking, with significant progress in investment and trading, and asset management[5] - The company focused on high-quality development and balanced business growth, enhancing service to national strategies and the real economy[5] Performance Forecast - The company did not disclose any performance forecasts prior to this earnings announcement[6]

证券代码：524204 证券简称：25 国证 04 证券代码：524205 证券简称：25 国证 05 国信证券股份有限公司 2025 年面向专业投资者公开发行 公司债券（第三期）发行结果公告 发行人及全体董事、监事、高级管理人员保证本公告内容真实、准确和完 整，并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 国信证券股份有限公司（以下简称"公司"或"发行人"）向专业投资者公开 发行面值总额不超过 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[2024]1722 号文注册同意。 根据《国信证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第 三期）发行公告》，国信证券股份有限公司 2025 年面向专业投资者公开发行公 司债券（第三期）（以下简称"本期债券"）的发行规模为不超过 60 亿元（含 60 亿元），分 2 个品种发行。本期债券品种一简称为 25 国证 04，债券代码为 524204，期限为 3 年；品种二简称为 25 国证 05，债券代码为 524205，期限为 10 年。本期债券发行价格为每张 100 元，采取网下面向专业投资者询价配售的 方式发行。 本期债券发行时 ...

资料显示，国信证券是行业前十的综合类券商，目前市值近900亿。截至2024年第三季度，国信证券总 资产达4841.29亿元，托管客户资产超2万亿，在经纪、投行、资管等领域均居行业前列。2024年前三季 度，公司实现营业收入122.71亿元，净利润48.79亿元。 4月6日晚，国信证券发布公告称，拟以发行A股股份的方式，向深圳市资本运营集团等七家股东收购其 合计持有的万和证券股份有限公司96.08%股份，交易作价51.92亿元。本次交易完成后，万和证券将成 为国信证券控股子公司。 根据公告，此次交易以2024年6月30日为评估基准日，万和证券100%股权估值为54.04亿元，对应 96.08%股权的交易价格为51.92亿元。国信证券将以每股8.60元的价格向深圳市资本运营集团等七家交 易方发行6.04亿股，占发行后总股本的5.91%。 值得关注的是，国信证券与万和证券同属深圳国资体系，实际控制人均为深圳市国资委。此次收购被市 场视为地方国资推动券商资源整合的典型案例。交易完成后，国信证券总股本将从96.12亿股增至102.16 亿股，但控股股东及实际控制人未发生变更。 万和证券则是一家区域性券商，官网数据显示， ...

Core Viewpoint - Guosen Securities is acquiring 96.08% of Wanhe Securities for a total consideration of 5.192 billion yuan, with the transaction aimed at leveraging the benefits of the Hainan Free Trade Port policy [1][2][3] Group 1: Transaction Details - Guosen Securities will issue 604 million shares at a price of 8.60 yuan per share to acquire the stake, resulting in a total transaction value of 5.192 billion yuan [1] - The valuation of 100% of Wanhe Securities is assessed at 5.404 billion yuan, with the acquisition price reflecting a 96.08% stake [1] - Post-transaction, Guosen Securities' total share capital will increase from 9.612 billion shares to 10.216 billion shares [1] Group 2: Company Background - Guosen Securities was established on June 30, 1994, with a registered capital of approximately 9.612 billion yuan, focusing on wealth management, investment banking, and asset management [2] - The company reported revenues of 23.818 billion yuan, 15.876 billion yuan, and 17.317 billion yuan for 2021 to 2023, with net profits of 10.115 billion yuan, 6.088 billion yuan, and 6.427 billion yuan respectively [2] Group 3: Strategic Implications - The acquisition is expected to enhance Guosen Securities' competitive position by integrating Wanhe Securities' resources and leveraging its presence in the Hainan Free Trade Port [3] - The transaction aligns with the current trend of consolidation in the securities industry, as the government encourages mergers and acquisitions among leading firms to boost competitiveness [3]

Core Viewpoint - The acquisition of 96.08% of Wanhe Securities by Guosen Securities for a total consideration of 5.192 billion yuan aims to leverage the policy benefits of the Hainan Free Trade Port and enhance competitiveness in the financial services sector [1][6]. Transaction Overview - The transaction involves issuing 604 million shares at a price of 8.60 yuan per share, representing 5.91% of the post-transaction total share capital [2][4]. - The valuation of 100% of Wanhe Securities is assessed at 5.404 billion yuan, with the transaction price for the 96.08% stake set at 5.192 billion yuan [2][4]. - Following the transaction, Wanhe Securities will become a subsidiary of Guosen Securities, increasing the total share capital from 9.612 billion shares to 10.216 billion shares [2][4]. Strategic Rationale - The acquisition is positioned to capitalize on the Hainan Free Trade Port's policy advantages, with Wanhe Securities already engaged in cross-border asset management and innovative business initiatives [6]. - Guosen Securities aims to enhance its competitive edge in the North and Southwest regions of China through this acquisition, as Wanhe Securities has a network of 50 branches covering key economic zones [6]. Industry Context - The transaction occurs during a period of significant consolidation within the securities industry, with recent government policies encouraging mergers and acquisitions among leading firms [7]. - The industry is experiencing high levels of product homogeneity, prompting firms to seek differentiation through innovation and strategic partnerships [6][7]. Financial Implications - While the acquisition is expected to increase total assets and profit scale for Guosen Securities, the expansion of share capital may dilute earnings per share [6]. - The company plans to enhance profitability through resource integration and leveraging Wanhe Securities' established market position [6].

Group 1: Market Operations - The central bank conducted a 7-day reverse repurchase operation on April 3, with a fixed rate and a total amount of 223.4 billion yuan, at an interest rate of 1.50%, resulting in a net injection of 4.9 billion yuan for the day after accounting for 218.5 billion yuan in reverse repos maturing [2] - The funding environment remains loose, with overnight and 7-day pledged repo rates for deposit-taking institutions both declining by over 10 basis points, reaching new lows [4] Group 2: Interbank Rates and Bonds - The secondary market for one-year interbank certificates of deposit from major banks is trading around 1.8%, showing a significant decline from the previous day [8] - Major interbank bond rates have collectively decreased significantly, with various government bonds showing notable drops in yields across different maturities [10] - The closing prices for government bond futures saw increases across all maturities, with the 30-year main contract rising by 1.43% [13] Group 3: Corporate Bond News - China Overseas Land & Investment has a bond balance of 3.7 billion yuan, with maturities starting in 2026 [18] - Teda Investment is increasing its wholly-owned subsidiary Yangzhou Wanyun's capital by 2.182 billion yuan through a debt-to-equity swap [18] - Guosen Securities has been approved to issue no more than 20 billion yuan in perpetual subordinated bonds [18] Group 4: Negative Events in Bond Market - Recent negative events in the bond market include the postponement of ratings for Henan Xinzheng Rural Commercial Bank and the downgrade of implied ratings for Suning Appliance Group [19]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002736 证券简称：国信证券 公告编号：2025-015 国信证券股份有限公司 第五届董事会第三十九次会议（临时） 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。 国信证券股份有限公司（以下简称"公司"）于2025年3月31日发出第五届董事会第三十九次会议（临 时）（以下简称"本次会议"）书面通知。本次会议于2025年4月3日在公司以现场和电话结合方式召开。 本次会议应出席董事9名，实际出席董事9名，其中张纳沙董事长现场出席，其余8位董事以电话方式出 席。全体监事及部分高级管理人员列席了会议。张纳沙董事长主持本次会议。本次会议的召开符合《公 司法》等相关法律法规和《公司章程》的规定。本次会议审议并通过了以下议案： 一、审议通过《关于〈国信证券股份有限公司发行股份购买资产暨关联交易报告书（草案）（修订 稿）〉及其摘要的议案》 公司拟通过发行A股股份的方式购买深圳市资本运营集团有限公司、深圳市鲲鹏股权投资有限公司、深 业集团有限公司、深圳市创新投资集团有限公司、深圳远致富海十号投资企业（有限 ...

Group 1 - The core viewpoint emphasizes that AI is transforming asset allocation by achieving computational equity and enhancing investment research capabilities, particularly through the DeepSeek model [1][11][14] - AI is positioned as an "enhanced tool" in investment research, improving data processing efficiency and optimizing strategy execution, but it cannot fully replace human judgment in complex market scenarios [2][3][21] - The report highlights the importance of integrating AI with traditional investment frameworks to enhance decision-making processes while maintaining human oversight [20][21][30] Group 2 - The application of DeepSeek in asset allocation involves a systematic optimization of traditional strategies, focusing on risk parity and dynamic market timing [16][17][18] - The report discusses the integration of AI in A-share market strategies, utilizing macroeconomic indicators and sentiment analysis to enhance market timing and sector rotation [17][18] - AI's role in ESG investment is explored, demonstrating how it can dynamically incorporate ESG factors into asset allocation frameworks to balance returns and sustainability [18][19] Group 3 - The report outlines the deployment of AI in hedge funds and quantitative trading, showcasing how AI-driven models can assist in decision-making and strategy development [49][54][58] - It emphasizes the need for specialized AI models tailored to financial tasks, such as the Fin-R1 model, which is designed for complex financial reasoning and can be deployed on consumer-grade hardware [65][66] - The success of AI-driven investment strategies is illustrated through case studies, including Minotaur Capital, which achieved significant returns using AI for stock selection [70][74]

第一创业证券承销保荐有限责任公司 关于 国信证券股份有限公司 发行股份购买资产暨关联交易 之 独立财务顾问报告 （修订稿） 独立财务顾问 二〇二五年四月 第一创业证券承销保荐有限责任公司关于国信证券发行股份购买资产暨关联交易之独立财务顾问报告 （修订稿） 声明和承诺 第一创业证券承销保荐有限责任公司接受国信证券股份有限公司的委托，担 任国信证券发行股份购买资产暨关联交易的独立财务顾问，系在充分尽职调查和 内部核查的基础上，假设本次交易各方均按照相关协议约定的条款全面履行其所 有义务并承担其全部责任的前提下出具独立财务顾问报告，特做如下声明与承诺： 1、本独立财务顾问与本次交易各方均无其他利益关系，就本次交易所发表 的有关意见是完全独立进行的； 2、本独立财务顾问出具的独立财务顾问报告所依据的文件、材料由国信证 券、交易对方及交易标的提供。国信证券全体董事及交易对方均已出具承诺，对 所提供信息的真实、准确、完整负责，保证该等信息不存在虚假记载、误导性陈 述和重大遗漏，并对所提供信息的真实性、准确性和完整性承担个别和连带的法 律责任。本独立财务顾问不承担由此引起的任何风险和责任； 3、本独立财务顾问已按照法律、行 ...