证券代码：002939 证券简称：长城证券 公告编号：2025-091 长城证券股份有限公司 2025 年中期利润分配实施公告 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。 一、股东会、董事会审议通过利润分配方案情况 1.公司于 2025 年 6 月 25 日召开 2024 年度股东大会，审议通过《关于提请 股东大会授权董事会决定公司 2025 年中期利润分配方案的议案》；于 2025 年 10 月 22 日召开第三届董事会第十四次会议，审议通过《关于公司 2025 年中期 利润分配方案的议案》。 2.公司 2025 年中期利润分配方案：以公司总股本 4,034,426,956 股为基数， 向全体股东每 10 股派发现金红利 0.76 元（含税），合计派发 306,616,448.66 元， 不送红股，不以资本公积转增股本。公司剩余的未分配利润转入下一次分配。如 本次利润分配方案实施前公司总股本发生变化的，将按照派发总额不变的原则相 应调整。详见公司于 2025 年 10 月 23 日披露的《关于公司 2025 年中期利润分配 方案的公告》。 3.自本次 ...

长城证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第四期）在深圳 证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，长城证券股份有限公司 2025 年 面向专业投资者公开发行公司债券（第四期）符合深圳证券交易所债券上市条件， 将于 2025 年 12 月 15 日起在深圳证券交易所上市，并面向专业投资者中的机构 投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成交和协商成 交。债券相关要素如下： （以下无正文） 本页无正文，为《长城证券股份有限公司 2025 年面向专业投资者公开发行 公司债券（第四期）在深圳证券交易所上市的公告》之盖章页 长城证券股份有限公司 年 月 日 | 债券名称 | 长城证券股份有限公司 | | | | | 2025 | 年面向专业投资者公开发行公司 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 债券（第四期） | | | | | | | | 债券简称 | 25 长城 07 | | | | | | | | 债券代码 | 524578.SZ | | | | | | | | 信用评级 | ...

■ 本期发行短期融资券的相关文件已在中国货币网(www.chinamoney.com.cn)、上海清算所网站 (www.shclearing.com.cn)刊登。 长城证券股份有限公司 2025年度第十四期短期融资券发行 结果公告 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2025年度第十四期短期融资券已于2025年12月10日发行完毕，相关发行情况如 下： 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002939 证券简称：长城证券 公告编号：2025-090 特此公告。 长城证券股份有限公司董事会 2025年12月11日 ...

Core Viewpoint - The recent draft of the "Guidelines for Performance Assessment of Fund Management Companies" introduces significant reforms in the public fund industry, emphasizing performance-based dividend distribution and potentially leading to salary reductions for nearly a thousand fund managers [1][7]. Group 1: Guidelines and Reforms - The guidelines require fund companies to prudently determine dividend frequency and ratio based on long-term performance and investor returns, especially for funds with poor performance over the past three years [1][7]. - The guidelines aim to enhance capital accumulation, research and investment, risk prevention, and social responsibility within fund companies [1][7]. Group 2: Dividend Distribution of Invesco Great Wall Fund - Invesco Great Wall Fund reported a total revenue of 3.373 billion yuan and a net profit of 951 million yuan for 2024, with a dividend payout of 775 million yuan, resulting in a dividend rate of 81.48% [8]. - From 2018 to 2024, Invesco Great Wall Fund accumulated a net profit of 6.395 billion yuan and distributed a total of 3.615 billion yuan in dividends to shareholders [9][10]. Group 3: Performance Metrics - Between 2022 and 2024, 66 out of 123 funds (53%) under Invesco Great Wall had negative returns, and 68 funds (55%) underperformed their benchmarks [10][11]. - The total loss across all fund products during this three-year period amounted to 36.9 billion yuan [11]. Group 4: Industry Position - Invesco Great Wall Fund's dividend rate of 81.48% in 2024 ranked it first among leading fund companies, with an average dividend rate of 56.53% over the years [10]. - As of the end of Q3 2025, Invesco Great Wall Fund's non-monetary scale reached 569 billion yuan, placing it tenth in the industry [12].

证券代码：002939 证券简称：长城证券 公告编号：2025-090 本期发行短期融资券的相关文件已在中国货币网(www.chinamoney.com.cn)、 上海清算所网站(www.shclearing.com.cn)刊登。 特此公告。 长城证券股份有限公司董事会 长城证券股份有限公司 2025 年 12 月 11 日 2025 年度第十四期短期融资券发行结果公告 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 2025 年度第十四期短期融资券已于 2025 年 12 月 10 日发行完毕，相关发行情况如下： | 债券名称 | | | | 2025 | | | | 长城证券股份有限公司 | | 年度第十四期短期融资券 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券简称 | 长城证券 25 | | CP014 | 债券代码 | 072510304 | | | | | | | | | 债券期限 | 2 ...

Core Viewpoint - Jiangbolong plans to raise 3.7 billion yuan through a private placement to actively invest in high-end AI storage, storage controller chips, and advanced packaging and testing [1] Group 1: Fundraising and Investment Plans - The company intends to use 880 million yuan of the raised funds to develop storage products targeting the AI sector, including enterprise-level SSDs and high-end consumer SSDs [1] - The company is expanding its enterprise storage business by leveraging self-developed technology and actively participating in major client technology and new product bidding [1] Group 2: Market Growth and Opportunities - The global AIGC wave and the "Digital China" top-level planning are providing new growth momentum for the storage market [1] - As a leading independent memory manufacturer in China, the company is advancing its domestic and international dual-wheel layout in the storage industry, indicating significant growth potential [1] Group 3: Financial Projections - The company's projected net profit attributable to shareholders for 2025, 2026, and 2027 is expected to be 1.16 billion, 1.85 billion, and 2.32 billion yuan, respectively [1] - Corresponding price-to-earnings ratios for 2025, 2026, and 2027 are forecasted to be 99, 62, and 49 times, respectively, maintaining a "buy" rating [1]

Core Insights - The 2025 Wind "Gold Analyst" awards were announced on December 10, recognizing outstanding research teams based on the number of report reads from buy-side institutions [1]. Group 1: Award Winners - The awards included 33 individual research field awards and 4 institutional awards, with participation from over 600 teams from 38 research institutions [1]. - Notable winners in various categories include: - Strategy Research: - First: Galaxy Securities - Second: Guosen Securities - Third: Zheshang Securities [3] - Fixed Income: - First: Zheshang Securities - Second: Huachuang Securities - Third: Dongwu Securities [3] - ESG Research: - First: Guosen Securities - Second: Galaxy Securities - Third: Zheshang Securities [5] - Restaurant and Tourism: - First: Guosen Securities - Second: Kaiyuan Securities - Third: Dantan Haidao [6] - Media: - First: Dongwu Securities - Second: Guohai Securities - Third: Kaiyuan Securities [7] Group 2: Sector-Specific Insights - In the Electric Power and Utilities sector: - First: Dongwu Securities - Second: Guosen Securities - Third: Tianfeng Securities [8] - In the Real Estate sector: - First: Kaiyuan Securities - Second: Everbright Securities - Third: Zhongxin Jian Investment [11] - In the Automotive sector: - First: Dongwu Securities - Second: Minsheng Securities - Third: Guosen Securities [31] - In the Non-Bank Financial sector: - First: Zhongxin Jian Investment - Second: Kaiyuan Securities - Third: Dongwu Securities [21] Group 3: Overall Trends - The awards reflect a competitive landscape among research institutions, with a significant number of teams participating and a diverse range of sectors represented [1][3]. - The methodology for the awards was based on objective metrics, specifically the reading counts of research reports by buy-side institutions, ensuring a transparent evaluation process [1].

Core Viewpoint - The continuous decline in the number of shareholders for certain companies indicates a trend of increasing concentration of shares, with 122 companies experiencing a decrease for more than three consecutive periods, and some seeing declines for up to 13 periods [1] Group 1: Shareholder Trends - A total of 985 companies reported their latest shareholder numbers as of November 30, with 122 companies showing a continuous decline in shareholder numbers [1] - Notable companies with significant declines include ST Renzihang, which has seen a 23.81% drop in shareholder numbers over 13 periods, and Rundu Co., which has experienced a 40.50% decline over 11 periods [1] - Other companies with notable declines include Yihua New Materials and ST Huike, among others [1] Group 2: Market Performance - Among the companies with declining shareholder numbers, 36 have seen their stock prices rise, while 86 have experienced declines, with notable gainers including Shibu Testing (up 73.16%), Anlian Ruishi (up 58.15%), and Xianhe Environmental (up 32.00%) [2] - 37 companies, representing 30.33%, outperformed the Shanghai Composite Index during this period, with Shibu Testing, Anlian Ruishi, and Fuzheng Technology showing relative returns of 74.30%, 55.80%, and 32.87%, respectively [2] Group 3: Industry and Institutional Insights - The industries with the highest concentration of companies experiencing declining shareholder numbers include machinery, pharmaceuticals, and construction, with 18, 9, and 9 companies respectively [2] - In terms of market segments, 73 companies are listed on the main board, 47 on the ChiNext board, and 2 on the Sci-Tech Innovation board [2] - In the past month, 17 companies with declining shareholder numbers have been subject to institutional research, with Yunnan Copper, Great Wall Securities, and China Electric Port receiving the most attention [2]

Group 1 - The core viewpoint of the article is that Amway Co., Ltd. (SZ 300218) announced an investor research meeting scheduled for December 8, 2025, where company executives will address investor inquiries [1] - For the year 2024, Amway's revenue composition is reported to be 98.35% from synthetic leather and 1.65% from other businesses [1] - As of the report, Amway's market capitalization stands at 3.5 billion yuan [1]

本公司及其董事、高级管理人员保证公告内容真实、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。 长城证券股份有限公司（以下简称"发行人"）面向专业投资者公开发行不超 过人民币 120 亿元公司债券已获得中国证券监督管理委员会证监许可〔2025〕371 号注册。根据《长城证券股份有限公司 2025 年面向专业投资者公开发行公司债 券（第四期）发行公告》，长城证券股份有限公司 2025 年面向专业投资者公开发 行公司债券（第四期）（以下简称"本期债券"）发行规模为不超过 11 亿元（含 11 亿元），发行价格为每张 100 元，全部采取网下面向专业投资者询价配售的发行 方式。 证券代码：524578 证券简称：25 长城 07 长城证券股份有限公司 2025 年面向专业投资者公开发行公司债券 （第四期）发行结果公告 3、本期债券存在承销机构及其关联方认购情况，国信证券股份有限公司认 购 0.6 亿元，国信证券股份有限公司关联方华润深国投信托有限公司认购 0.3 亿 元，认购报价公允、认购程序合规。此外，其他承销机构及其关联方未参与本次 认购。 本期债券发行利率以询价方式确定，承销机构不存在操纵 ...