Core Viewpoint - *ST Lihang (603261.SH) is expected to continue its losses in the first half of 2025, with projected net profit attributable to shareholders ranging from -41 million to -57 million yuan, indicating a worsening financial situation compared to the previous year [1] Financial Performance Summary - The company reported a net profit of -24.26 million yuan in the same period last year, with a net profit excluding non-recurring items of -26.86 million yuan [1] - For the years 2023 and 2024, the net profits attributable to shareholders were -68 million yuan and -94 million yuan respectively, with net profits excluding non-recurring items at -62 million yuan and -99 million yuan [1] - The operating revenue for 2024 was approximately 289.85 million yuan, showing a 23.54% increase from 2023, which had 234.62 million yuan [2] - The operating revenue after excluding unrelated business income for 2024 was about 284.43 million yuan, a 21.34% increase from 2023 [2] - The net profit attributable to shareholders for 2024 was -93.94 million yuan, a decrease of 37.51% compared to -68.31 million yuan in 2023 [2] - The net profit excluding non-recurring items for 2024 was -98.81 million yuan, a 59.02% decrease from -62.14 million yuan in 2023 [2] Company Background - Lihang Technology was listed on the Shanghai Stock Exchange on March 15, 2022, with an initial public offering of 19.70 yuan per share, raising a total of 379 million yuan [3] - The net proceeds from the fundraising amounted to 335 million yuan, which were allocated for aviation equipment and rotorcraft manufacturing projects, as well as for working capital [3] - The total issuance costs were approximately 44.50 million yuan, with the underwriting fees to Huaxi Securities being around 29.67 million yuan [3]

Core Viewpoint - The Shanghai Composite Index has surged past the 3600-point mark for the first time since October 8, 2024, indicating a strong market rally led by brokerage firms [1]. Group 1: Market Performance - Major brokerage stocks have seen significant gains, with Guosheng Financial hitting the daily limit, Guoxin Securities rising over 6%, and other firms like Harbin Investment and GF Securities also showing strong performance [1]. - The A-share leading brokerage ETF (512000) experienced a near 3% increase, currently up 2.02%, with a trading volume of 1.38 billion yuan, surpassing the previous day's total [2]. Group 2: Industry Outlook - According to招商证券, the brokerage sector is expected to lead the market rally as equity prices break upward, supported by favorable policies and low historical valuations, indicating potential for significant upward movement [3]. - 信达证券 suggests that the rising trend in bank stocks may extend to brokerages and insurance sectors, with non-bank financials currently undervalued, presenting a potential recovery window in Q4 [4]. - The brokerage ETF (512000) tracks the CSI All Share Securities Companies Index, encompassing 49 listed brokerage stocks, with a focus on top firms while also including smaller brokerages for high growth potential [4].

Group 1 - The A-share brokerage stocks continue to rise, with Guosheng Financial Holdings hitting the daily limit, indicating strong market performance [1] - Guoxin Securities increased by over 5%, reflecting positive investor sentiment and market dynamics [1] - Hatou Co., Ltd. rose by over 4%, contributing to the overall upward trend in the brokerage sector [1] Group 2 - Other brokerage firms such as GF Securities, Bank of China Securities, and Huaxi Securities also experienced gains, showcasing a broad rally in the industry [1]

A股证券板块盘初拉升，国盛金控涨超5%，广发证券、湘财股份、东方财富、华西证券、中信建投 涨。 ...

Group 1 - The market sentiment is increasingly bullish, with the Shanghai Composite Index achieving five consecutive days of gains and reaching a new high for the year on July 22 [1][3] - The A-share trading volume has surged, with a total turnover of 1.93 trillion yuan on July 22, marking the highest single-day trading volume in nearly four months [3] - All 29 listed securities firms that have released mid-year performance forecasts are expected to report profit increases or turnarounds, with an average net profit growth of 171.03% to 203.81% [3][4] Group 2 - Notable profit growth is observed in firms like Huaxi Securities and Guolian Minsheng, with net profit growth rates exceeding 1000% [3][4] - The valuation of the securities sector remains relatively low, with the price-to-book ratio (PB) of the CSI All Share Securities Index at 1.52, below historical averages [4] - The ETF tracking the securities index includes 49 listed brokerage stocks, with nearly 60% of its holdings concentrated in the top ten leading brokerages, providing an efficient investment tool for both large and small firms [5]

证券代码：002926 证券简称：华西证券 公告编号：2025-030 华西证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 本次分派对象为：截止 2025 年 7 月 28 日下午深圳证券交易所收市后，在中 国证券登记结算有限责任公司深圳分公司（以下简称"中国结算深圳分公司"） 登记在册的公司全体股东。 五、权益分派方法 年 7 月 29 日通过股东托管证券公司（或其他托管机构）直接划入其资金账户。 序号 股东账号 股东名称 华西证券股份有限公司(以下简称"公司")2024 年年度权益分派方案已获 如下： 一、股东大会审议通过权益分派方案的情况 公司总股本 2,625,000,000 股为基数，每 10 股派发现金红利 0.85 元（含税）， 共计派发现金股利 223,125,000 元，不送红股，不以资本公积金转增股本。 益分派采用固定总额的方式分配。 二、权益分派方案 公司 2024 年年度权益分派方案为：以公司现有总股本 2,625,000,000 股为 基数，向全体股东每 10 股派 0.85 元人民币现金（含税；扣税后，通过深股通持 ...

证券代码：002926 证券简称：华西证券 公告编号：2025-030 华西证券股份有限公司 2024 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、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 华西证券股份有限公司(以下简称"公司")2024 年年度权益分派方案已获 2025 年 6 月 30 日召开的 2024 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的情况 1.公司 2024 年度股东大会审议通过的 2024 年度权益分派方案为：以分红前 公司总股本 2,625,000,000 股为基数，每 10 股派发现金红利 0.85 元（含税）， 共计派发现金股利 223,125,000 元，不送红股，不以资本公积金转增股本。 2.自本次权益分派方案披露至实施期间，公司股本总额未发生变化，本次权 益分派采用固定总额的方式分配。 3.本次实施的分派方案与股东大会审议通过的分派方案一致。 4.本次实施的分派方案距离公司股东大会审议通过的时间未超过两个月。 二、权益分派方案 五、权益分派方法 1、公司此次委托中国结算深圳分公司代派的 A 股股东现 ...

Core Viewpoint - The first Leadership TOP List for listed securities firms by Sina Finance has been released, with Yang Jiong Yang, General Manager of Huaxi Securities, ranking 18th among growth and development securities firms [1] Group 1: Evaluation Criteria - The "Leadership TOP List" aims to recognize the outstanding contributions and far-reaching influence of leaders in various securities firms, based on a comprehensive evaluation system that includes industry data, peer evaluation, and online presence [1] - The evaluation criteria consist of three main components: industry data evaluation (40%), peer evaluation (50%), and online presence evaluation (10%) [5][6] Group 2: Performance Metrics - Huaxi Securities reported a revenue growth rate of 23.22% and a net profit growth rate of 71.31% [6] - The return on assets (ROA) is 0.77%, and the return on equity (ROE) is 3.14% [6] - Total asset growth rate stands at 12.89%, while net asset growth rate is 3.34% [6] - The brokerage business profit margin is 70.17%, ranking 31st among listed securities firms, while the investment banking business profit margin is -61.88%, ranking 46th [6] Group 3: Peer Evaluation Scores - In the peer evaluation, Huaxi Securities scored 77.73 for foresight, 85.42 for control, 76.58 for innovation, 79.31 for compliance, and 71.94 for influence [6][7] Group 4: Online Presence Evaluation - The online presence evaluation score for Huaxi Securities is 75.68, ranking 38th among 50 listed securities firms [13] - The evaluation reflects the public sentiment and influence of the securities company and its leaders over the past year [9]

Group 1 - As of July 21, 2023, 55 Sichuan-listed companies have disclosed their half-year performance forecasts, with 33 companies expecting profits and 22 facing potential losses [1] - The performance disparity among industries is increasing, with emerging sectors benefiting from policy support and market demand, while traditional industries are pressured by supply-demand imbalances and price fluctuations [1] Group 2 - New Yi Sheng is projected to have a net profit of 37 to 42 billion yuan, benefiting from the growth in AI-related computing power investments, marking a record high for the period [2] - Guo Cheng Mining and Huaxi Securities are notable performers, with both companies expecting net profit increases exceeding 10 times year-on-year, driven by non-recurring gains and improved asset quality, respectively [2] - Saint Noble Bio's net profit is expected to grow by 254% to 332% year-on-year, driven by increased exports of peptide raw materials in diabetes and anti-tumor fields [2] Group 3 - Traditional industries such as basic chemicals, power equipment, and non-ferrous metals are facing significant performance pressures, with Tongwei Co. expected to report a loss of 4.9 to 5.2 billion yuan, the largest loss among Sichuan-listed companies [3] - The losses for Tongwei Co. are attributed to ongoing supply-demand imbalances and persistently low product prices despite growth in new photovoltaic installations [3] - Other companies like Hongda Co. and Huati Technology are also forecasting losses due to falling zinc prices and increased competition, respectively [3] - The performance forecasts reflect a clear economic structural transformation, with emerging industries gaining an edge through policy support and technological advancements, while traditional sectors must adapt through capacity optimization and technological upgrades [3]

Group 1 - The Yarlung Tsangpo River downstream hydropower project has officially commenced with a total investment of approximately 1.2 trillion yuan, aiming to build five tiered power stations primarily for electricity transmission and local consumption in Tibet [1] - The Ministry of Industry and Information Technology (MIIT) plans to accelerate the development of biomanufacturing and low-altitude industries, while promoting innovation in future industries such as humanoid robots and brain-computer interfaces [2][3] - The MIIT and the National Development and Reform Commission (NDRC) are set to issue work plans to stabilize growth in key industries including steel, non-ferrous metals, petrochemicals, and building materials [2][3] Group 2 - The U.S. Department of Commerce has imposed a preliminary anti-dumping duty of 93.5% on Chinese imported anode-grade graphite, citing unfair subsidies [5] - The State Administration for Market Regulation has urged major platform companies like Ele.me, Meituan, and JD.com to standardize promotional activities and foster a healthy competitive environment in the food service industry [6] - A meeting was held to discuss the regulation of the new energy vehicle industry, focusing on enhancing supervision and monitoring product prices and quality [8] Group 3 - The China Iron and Steel Association has proposed a new mechanism for capacity governance to prevent overcapacity risks in the steel industry and to eliminate irrational competition [10] - Yu Shu Technology has initiated its listing guidance, with its controlling shareholder holding approximately 34.76% of the company's shares [11] - Multiple provinces are planning to establish companies to develop local cultural creative Moutai liquor, with participation from distributors based on their allocation of Moutai products [12] Group 4 - As of July 18, 1551 A-share listed companies have released performance forecasts for the first half of 2025, with 26 companies expecting a net profit increase of over 1000% year-on-year [14] - Longhua Automobile reported a net profit of 6.337 billion yuan for the first half of the year, reflecting a year-on-year decline of 10.22% [19] - The major shareholder of Hongbaoli plans to reduce its stake by up to 2% [20]