中信建投证券股份有限公司 关于长城证券股份有限公司限售股份上市流通的核查意见 中信建投证券股份有限公司作为长城证券股份有限公司（以下简称"长城证 券"、"公司"）的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券 交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板 上市公司规范运作》等相关规定，对非公开发行股票部分限售股份解除股份限售 事项进行了审慎核查，具体情况如下： 一、本次解除限售股份的基本情况 经中国证券监督管理委员会《关于核准长城证券股份有限公司非公开发行股 票的批复》（证监许可[2022]686 号）核准，长城证券于 2022 年 8 月非公开发行 A 股股票合计 931,021,605 股。其中，深圳新江南投资有限公司认购 115,036,674 股，限售期为 36 个月，其所认购股份将于 2025 年 8 月 22 日解除限售并上市流 通。 二、本次解除限售股份的上市流通安排 （一）本次解除限售股份的上市流通日期为 2025 年 8 月 22 日。 （二）本次解除限售股份总数为 115,036,674 股，占公司总股本的 2.85%。 （三）本次申请解除股份限售 ...

证券代码：002939 证券简称：长城证券 公告编号：2025-058 长城证券股份有限公司 关于 2025 年度第四期短期融资券兑付完成的公告 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 3 月 5 日发行了公司 2025 年度第四期短期融资券，发行金额为人民币 10 亿元，票面利率为 2.06%，发行 期限为 163 天，兑付日为 2025 年 8 月 15 日。 2025 年 8 月 15 日，公司兑付了 2025 年度第四期短期融资券本息共计人民 币 1,009,199,452.05 元。 特此公告。 长城证券股份有限公司董事会 2025 年 8 月 19 日 ...

1.本次解除限售股份的数量为 115,036,674 股，占公司总股本的 2.85%； 证券代码：002939 证券简称：长城证券 公告编号：2025-057 长城证券股份有限公司 非公开发行股票部分限售股份上市流通提示性公告 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。 特别提示： 2.本次解除限售股份的上市流通日期为 2025 年 8 月 22 日； 3.本次解除限售股份的股东为持有公司 5%以上股份的股东深圳新江南投资 有限公司。根据相关规定，持股 5%以上股东计划通过集中竞价交易或者大宗交 易方式减持公司股份的，须在首次卖出股份的 15 个交易日前披露减持计划。截 至本公告披露日，公司未收到深圳新江南投资有限公司的减持计划。 一、本次解除限售股份的基本情况 经中国证券监督管理委员会《关于核准长城证券股份有限公司非公开发行股 票的批复》（证监许可[2022]686 号）核准，长城证券股份有限公司（以下简称 公司）于 2022 年 8 月非公开发行 A 股股票合计 931,021,605 股。其中，深圳新 江南投资有限公司认购 115,036,674 ...

Market Performance - A-shares indices collectively rose on August 18, with the Shanghai Composite Index up 0.85% to 3728.03 points, Shenzhen Component Index up 1.73% to 11835.57 points, and ChiNext Index up 2.84% to 2606.20 points [1] - The North Stock 50 Index surged 6.79% to 1576.63 points, with over 4000 stocks in the market rising [1] Historical Data - The Shanghai Composite Index briefly surpassed its previous high of 3731.69 points set on February 18, 2021, marking the highest level since August 20, 2015 [5] - The North Stock 50 Index reached a historical high, while both the Shenzhen Component Index and ChiNext Index exceeded their highs from October 8 of the previous year [5] Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached approximately 27,641.63 billion yuan, an increase of about 5,195.51 billion yuan compared to the previous trading day, setting a new annual high [5] Sector Performance - Sectors such as communication equipment, software, and cultural media saw significant gains, while concept stocks like stock trading software and rare earths performed well [5] - The brokerage sector continued its strong performance, with stocks like Changcheng Securities hitting the daily limit, and others like Hualin Securities and Xiangcai Shares rising over 6% [5] Margin Trading - The margin trading scale has increased, with a cumulative growth of over 70 billion yuan since the beginning of August, marking a return of the margin balance to over 2 trillion yuan for the first time in ten years [5]

Core Viewpoint - The A-share market is experiencing a significant bullish trend, with the Shanghai Composite Index reaching a 10-year high of 3745.94 points and the total market capitalization of A-share companies surpassing 100 trillion yuan for the first time, indicating strong market sentiment and trading volume [1][3]. Group 1: Market Performance - The A-share market saw a record trading volume of 2.81 trillion yuan, marking a new high for the year [1]. - Leading securities firms such as Changcheng Securities and Dongfang Caifu have shown substantial gains, with Changcheng Securities achieving four consecutive trading increases [1][3]. - The A-share top-tier securities ETF (512000) experienced a trading volume of 32.29 billion yuan, maintaining a premium trading status, suggesting strong buying interest [1][3]. Group 2: Industry Catalysts - The recent increase in market activity is attributed to a "slow bull" market pattern, which is expected to enhance the performance of the securities sector due to its strong correlation with market trends [3][4]. - The first batch of five securities firms reported significant year-on-year profit growth, with the leading firm achieving a 37.27% increase, while others exceeded 40% [3][4]. Group 3: Future Outlook - The securities sector is anticipated to continue its upward trajectory, with expectations for further performance improvements as the market remains active [4][5]. - Despite recent gains, the securities sector's performance is still ranked 21st among 31 major industries, indicating potential for further upward movement [5][7]. - Analysts suggest that the current valuation of the securities sector is not high, providing room for valuation recovery in the future [5][6].

Group 1: Investment Strategy and Business Structure - The company adheres to a "high dividend +" strategy for its proprietary equity investments, focusing on "low volatility" high dividend assets as the profit foundation [2] - The fixed income business is undergoing transformation due to historically low bond market yields, with an emphasis on diversified strategies and enhanced asset allocation systems [2][3] Group 2: Wealth Management and Service Offerings - The company aims to build a wealth management ecosystem by leveraging technology to provide personalized and precise services, including the development of unique offerings like "Alchemy Bag" and "Super Grid" [3] - The product range is continuously enriched with fixed income and ETF arbitrage products to ensure customer safety and satisfaction [3] Group 3: Business Growth and Strategic Focus - In the first half of 2025, the company experienced stable growth in wealth management and proprietary investment, with a rapid recovery in investment banking and asset management [3] - The strategic focus is on becoming a leading comprehensive investment bank while enhancing industrial financial capabilities to support the optimization of supply chains and the transformation of technological achievements [3][4] Group 4: Technology Integration and Operational Efficiency - The company is increasing investments in AI, big data, and cloud computing to enhance business operations and customer service [4] - The AI center supports various online services, improving customer retention analysis and marketing precision [4] Group 5: Collaboration with Shareholders and Strategic Clients - The company actively collaborates with China Huaneng and its subsidiaries, focusing on debt management and capital market operations [5][6][7] - Key areas of collaboration include assisting in bond issuance, equity financing, and participating in research on new energy asset management [7]

从资金流向上来看，当日证券板块主力资金净流出66.53亿元，游资资金净流入16.26亿元，散户资金净流 入50.27亿元。证券板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002939 | 长城证券 | 13.27 | 10.03% | 250.38万 | | 32.65 Z | | 002945 | 华林证券 | 16.91 | 6.09% | 85.21万 | | 14.43亿 | | 600095 | 湘财股份 | 12.49 | 6.03% | 211.57万 | | 25.93 亿 | | 601162 | 天风证券 | 5.80 | 4.69% | 1888.99万 | | 108.37亿 | | 300059 | 东方财富 | 27.85 | 4.07% | 1638.25万 | | 450.44亿 | | 002673 | 西部证券 | 9.34 | 3.66% | 355.51万 | | 33.77 亿 | | 601236 | 红塔 ...

Core Viewpoint - The securities industry is experiencing significant growth, with multiple brokerages reporting strong performance and the overall market showing positive trends, leading to a bullish sentiment in the sector [1][4][6]. Group 1: Market Performance - On August 18, the Shanghai Composite Index reached 3736 points, the highest since August 21, 2015, marking a nearly 10-year high [1]. - The securities sector has become a leading performer, with several brokerage stocks, including Changcheng Securities and Huayin Securities, rising over 5% [1]. - The Securities Select Index has increased over 15% since the end of June, reflecting a strong upward trend in the market [2]. Group 2: Financial Data and Growth - As of August 8, the margin trading balance reached 2.01 trillion yuan, surpassing 2 trillion for the first time since 2015, indicating increased market activity [2]. - The total market capitalization of A-shares exceeded 100 trillion yuan for the first time, marking a significant milestone [2]. - In July, the IPO fundraising scale reached 24.2 billion yuan, a year-on-year increase of 164% [3]. Group 3: Brokerage Earnings - Four brokerages have reported mid-year earnings, with Jianghai Securities achieving a revenue of 726 million yuan, up 81.17%, and a net profit increase of 1311.60% [4]. - Other brokerages, such as Southwest Securities and Guangdong Securities, also reported significant revenue and profit growth, with net profits increasing by 25.76% and 84.56%, respectively [4]. - Overall, the brokerage sector is expected to see a 27.8% increase in main revenue and a 60.8% increase in net profit for the first half of 2025 [5]. Group 4: Future Outlook - Short-term expectations for brokerage stocks are positive, driven by increased trading volume and favorable index movements [6]. - Mid-term prospects include regulatory improvements and high-quality capital market development, which are expected to enhance business opportunities and profitability [6]. - Long-term trends suggest that top-tier brokerages will benefit from structural reforms and increased market share, leading to sustained profitability [6][7].

个股方面，东方财富成交额居首，为450亿元。其次是指南针、中兴通讯、新易盛，成交额分别为158亿元、147亿元、120亿元。影石创新今日开 盘后股价大幅走高，收获"20cm"涨停。截至收盘，公司股价报269.3元/股，最新总市值达到1080亿元，创上市以来新高。 盘面上，超4000只个股收盘飘红，泛科技与大金融主线领涨。AI硬件板块再度爆发，高澜股份、强瑞技术等多股收获20%幅度涨停。券商板块持 续发力，长城证券收获4连板。影视院线、消费电子、军工板块均涨幅居前。 以A股股价乘以A股股本计算，A股市值今日早盘突破100万亿元，创出历史新高。 8月18日，A股市场早盘冲高，午后小幅回落。上证指数盘中创出近十年新高，收盘报3728.03点，涨0.85%。深证成指、创业板指均突破去年10月8 日高点，收盘分别涨1.73%和2.84%。 沪深两市全天成交2.76万亿元，较上周五放量超过5000亿元，创今年以来天量，同时为历史第三大成交，仅次于去年10月8日（3.45万亿元）、去 年10月9日（2.94万亿元）。 （文章来源：上海证券报） ...

Group 1 - The A-share market has reached a new high, with the Shanghai Composite Index surpassing 3731.69 points, marking the highest level since August 2015 [4][3] - The total market capitalization of A-shares has exceeded 100 trillion yuan for the first time in history, indicating strong market performance [4][3] - Daily trading volume in the Shanghai and Shenzhen markets reached 2.76 trillion yuan, a significant increase of 519.6 billion yuan compared to the previous trading day, reflecting active trading sentiment [4][3] Group 2 - The current market is characterized as a "healthy bull market," driven by national strategic directions, supportive policies, and the emergence of new growth drivers [6][7] - Despite the index reaching new highs, most industries remain in a moderate range of crowding, suggesting that the market is not overheated overall, with some sectors still having low crowding levels [7][8] - The market is expected to continue rising, with the potential for new highs in A-share indices, supported by institutional advantages and ongoing capital market reforms [8][9] Group 3 - The brokerage and internet finance sectors are experiencing significant gains, with several stocks, including Changcheng Securities and Hualin Securities, seeing substantial price increases [10][12] - Recent positive developments in the brokerage sector include strong profit growth reported by several firms, with expectations of a 61.23% year-on-year increase in net profit for the first half of 2025 [12] - Mergers and acquisitions in the brokerage industry are accelerating, with recent approvals for significant share transfers and consolidations, indicating a trend towards industry consolidation [12] Group 4 - The AI computing sector is witnessing explosive growth, with various sub-sectors such as liquid-cooled servers and optical packaging showing strong performance [14][15] - Domestic computing capabilities are advancing, with significant investments expected in infrastructure for AI services, as indicated by OpenAI's CEO's plans for substantial funding [15] - The domestic intelligent computing center market is projected to reach 87.9 billion yuan in 2023, reflecting a year-on-year growth of over 90%, driven by increasing demand for AI applications [15]