Core Viewpoint - Longcheng Securities reported significant growth in both revenue and net profit for the third quarter and the first three quarters of 2025, driven by increased financial asset returns and brokerage commission income [1] Financial Performance - In Q3 2025, the company achieved operating revenue of 1.262 billion yuan, representing a year-on-year increase of 45.45% [1] - The net profit attributable to shareholders for Q3 2025 was 546 million yuan, up 44.99% year-on-year [1] - For the first three quarters of 2025, the total operating revenue reached 4.121 billion yuan, reflecting a year-on-year growth of 44.61% [1] - The net profit attributable to shareholders for the first three quarters was 1.931 billion yuan, showing a substantial increase of 75.83% year-on-year [1] Growth Drivers - The primary drivers of the performance growth were attributed to the increase in financial asset returns and the rise in net income from brokerage fees and commissions [1]

表决情况：同意 14 票，反对 0 票，弃权 0 票。 证券代码：002939 证券简称：长城证券 公告编号：2025-082 长城证券股份有限公司 第三届董事会第十五次会议决议公告 本公司及公司全体董事会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。 长城证券股份有限公司（以下简称公司）于 2025 年 10 月 17 日发出第三届 董事会第十五次会议书面通知。本次会议由董事长王军先生召集，于 2025 年 10 月 24 日以通讯方式召开，应出席董事 14 名，实际出席董事 14 名。本次会议的 召集、召开符合有关法律、行政法规、部门规章、规范性文件和《公司章程》的 规定。 本次会议审议并通过了以下议案： 一、《关于公司 2025 年第三季度报告的议案》 特此公告。 长城证券股份有限公司董事会 2025 年 10 月 28 日 《2025 年第三季度报告》于同日在《证券时报》《中国证券报》《上海证 券报》《证券日报》和巨潮资讯网（www.cninfo.com.cn）披露。 本议案已经公司董事会审计委员会审议通过。 二、《关于修订公司<全面风险管理制度>的议案》 表决情况：同 ...

本公司及公司全体董事会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。 证券代码：002939 证券简称：长城证券 公告编号：2025-084 长城证券股份有限公司 关于 2025 年度第七期短期融资券兑付完成的公告 长城证券股份有限公司董事会 2025 年 10 月 28 日 长城证券股份有限公司（以下简称公司）于 2025 年 7 月 22 日发行了公司 2025 年度第七期短期融资券，发行金额为人民币 10 亿元，票面利率为 1.54%， 发行期限为 94 天，兑付日为 2025 年 10 月 24 日。 2025 年 10 月 24 日，公司兑付了 2025 年度第七期短期融资券本息共计人民 币 1,003,966,027.40 元。 特此公告。 ...

北京商报讯（记者 李海媛）10月27日，长城证券发布2025年第三季度报告。前三季度，长城证券实现营业收 入41.21亿元，同比增长44.61%，归母净利润19.31亿元，同比增长75.83%。 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 期增減 | | 上年同期增减 | | 营业总收入(元) | 1.261.989.457.23 | 45.45% | 4.120.987.989.34 | 44.61% | | 归属于上市公司股东的净利 | 545.948.592.39 | 44.99% | 1.930.593.049.00 | 75.83% | | 润(元) | | | | | | 归属于上市公司股东的扣除 | 547,746,336.67 | 45.97% | 1.926.639.750.86 | 76.44% | | 非经常性损益的净利润(元) | | | | | | 经营活动产生的现金流量净 额(元) | | | 11,007,962,502.64 | -21.86% | | 基本每股 ...

【长城证券：前三季度净利润同比增长75.83%】智通财经10月27日电，长城证券(002939.SZ)公告称， 公司发布2025年第三季度报告，第三季度实现营业收入12.62亿元，同比增长45.45%；归属于上市公司 股东的净利润5.46亿元，同比增长44.99%。前三季度实现营业收入41.21亿元，同比增长44.61%；归属 于上市公司股东的净利润19.31亿元，同比增长75.83%。业绩增长主要系金融资产收益、经纪业务手续 费及佣金净收入增加所致。 转自：智通财经 ...

长城证券股份有限公司 2025 年第三季度报告 证券代码：002939 证券简称：长城证券 公告编号：2025-083 长城证券股份有限公司 2025 年第三季度报告 本公司及公司全体董事会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。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人王军、主管会计工作负责人周钟山及会计机构负责人（会计主管人员）阮惠仙声明：保证季度报告中财务 信息的真实、准确、完整。 长城证券股份有限公司 2025 年第三季度报告 （二）非经常性损益项目和金额 3.公司 2025 年第三季度财务会计报告未经会计师事务所审计。 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同 | | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | --- | | | | 期增减 | | | 上年同期增减 | | 营 ...

Market Performance - On October 27, the securities sector rose by 1.17%, with Dongxing Securities leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Individual Stock Performance - Dongxing Securities (601198) closed at 12.74, up 6.61% with a trading volume of 1.86 million shares and a turnover of 2.356 billion [1] - Xiangcai Shares (600095) closed at 13.12, up 5.55% with a trading volume of 1.6562 million shares and a turnover of 2.193 billion [1] - Other notable performers include: - Industrial Securities (601377) at 6.74, up 3.06% [1] - Huatai Securities (601688) at 22.45, up 2.98% [1] - XD Xinda Securities (601059) at 20.03, up 2.72% [1] Capital Flow Analysis - The securities sector experienced a net outflow of 1.848 billion from institutional investors, while retail investors saw a net inflow of 0.886 billion [2] - Notable capital flows include: - Huatai Securities (601688) with a net inflow of 0.323 billion from institutional investors [3] - Guangfa Securities (000776) with a net inflow of 0.275 billion from institutional investors [3] - Xiangxi Shares (600095) with a net inflow of 0.241 billion from institutional investors [3]

Core Viewpoint - The article emphasizes the role of the securities industry in supporting national strategies and deepening financial supply-side reforms, particularly through the integration of technology and finance to foster the growth of innovative enterprises [1]. Group 1: Strategic Focus - Longcheng Securities has identified "technology finance" as a key development direction in its "14th Five-Year Plan," aiming to become a leading securities company specialized in the power and energy sectors [3]. - The company is committed to enhancing its service matrix for technology finance, focusing on the integration of financial services with the development of innovative industries [2][3]. Group 2: New Financial Pathways - Longcheng Securities has established a new model for industry-finance integration, enhancing capabilities in value discovery, asset pricing, resource integration, and risk management to support technological innovation [3]. - The company has actively participated in the bond market, successfully issuing the first technology innovation bond by a securities company in Shenzhen, with a scale of 500 million yuan and a maturity of 2 years at a coupon rate of 1.79% [4][5]. Group 3: Building New Platforms - The "Technology Finance Port" is being developed as a new service model to support small and medium-sized technology enterprises, focusing on the dual carbon industry chain and providing comprehensive financial services throughout the enterprise lifecycle [6]. - Longcheng Securities has successfully integrated its resources to create a collaborative ecosystem, having accumulated 432 enterprises in the Huaneng industry chain and facilitating various investment and cooperation projects [7]. Group 4: Commitment to Innovation - The company aims to continue aligning with national strategic needs, enhancing financial services for innovative enterprises, and fostering high-quality development through effective risk management and financial support [7].

Core Viewpoint - The article emphasizes the role of Changcheng Securities in promoting the integration of technology and finance, focusing on supporting the growth of innovative enterprises through a comprehensive financial service matrix [1][2]. Group 1: Strategic Focus - Since 2021, Changcheng Securities has identified "technology finance" as a key development direction within its "14th Five-Year Plan," aiming to become a leading securities company specialized in the power and energy sectors [2]. - The company has established an industrial finance research and innovation team to leverage its platform advantages and resources, enhancing its role in investment guidance and industrial development [2]. Group 2: New Financial Models - Changcheng Securities is developing a new model of industrial-financial integration, focusing on value discovery, asset pricing, resource integration, and risk management to empower industries and support technological innovation [2]. - The company utilizes various financing tools, including equity and debt financing, to actively support emerging industries and facilitate the transformation of technological achievements [2]. Group 3: Innovative Financial Products - In May 2023, Changcheng Securities successfully issued the first technology innovation bond by a securities company on the Shenzhen Stock Exchange, with a scale of 500 million yuan and a maturity of 2 years, aimed at funding high-tech and strategic emerging industries [3]. - The company has positioned its underwriting of technology innovation bonds as a crucial part of its service to the main business and national technology innovation strategy, creating a comprehensive financial service system for the entire lifecycle of innovative enterprises [3][4]. Group 4: Technology Financial Port - Changcheng Securities is building a "Technology Financial Port" to provide integrated financial services for small and medium-sized enterprises with core technologies in the dual-carbon industry chain, promoting a virtuous cycle of technology, industry, and finance [5]. - As of September 2025, the company has accumulated a reserve of 432 enterprises within the Huaneng industrial chain and has invited 40 enterprises to join the port, facilitating multiple industrial-financial cooperation projects [5][6]. Group 5: Commitment to National Strategy - The company is committed to aligning its operations with national strategic needs, focusing on the political and public nature of financial work, and continuously enhancing its comprehensive financial services for innovative enterprises [6].

Market Overview - The market indices experienced significant gains, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rising by 0.71%, 2.02%, and 3.57% respectively, and over 3,000 stocks rising while more than 2,200 stocks fell [4] - The trading volume approached 2 trillion yuan, indicating increased market activity [4] - The Shanghai Composite Index reached a new high for the year, while the ChiNext Index also returned to near its yearly high [5] Storage Sector - The storage sector opened strongly, with several stocks hitting the daily limit, including Xianggang Technology, Dwei Co., and Purun Co., among others [8] - The flash memory and DRAM sectors saw increases of 8.25% and 7.92% respectively, driven by price hikes from major companies like Samsung and SK Hynix, which raised prices by up to 30% [8] - The surge in the storage sector was also influenced by a significant rise in U.S. storage stocks, particularly SanDisk, which increased by over 13.6% [8] Financial Sector - The financial sector initially lagged behind the market, with no mentions in the recent five-year plan, leading to a perception of underperformance [12] - However, after a statement from a senior financial official emphasizing the importance of high-quality financial development, the sector saw a rebound, with brokerage stocks gaining 0.85% by the end of the day [12] Technology and Robotics - Jinfutech experienced a sharp rise after announcing a collaboration with Shanghai Hanzhi Information Technology and receiving a manufacturing order for humanoid robots [16] - This marked a significant advancement in the company's involvement in the robotics sector, moving beyond mere partnerships to actual manufacturing contracts [16]