证券代码：002945 证券简称：华林证券 公告编号：2025-042 华林证券股份有限公司 第四届董事会第三次会议决议公告 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。 华林证券股份有限公司（以下简称"公司"）第四届董事会第三 次会议于 2025 年 9 月 4 日发出书面会议通知，并于 2025 年 9 月 9 日 完成通讯表决形成会议决议。本次会议应出席董事 5 人，实际参加表 决董事 5 人。会议的召开符合《公司法》和《公司章程》等相关规定。 本次会议审议并通过了如下议案： 1.《关于调整公司信用业务总规模的议案》 全体董事同意公司信用业务（包括融资融券、以自有资金出资的 股票质押式回购交易、约定购回式证券交易及其他信用业务）总规模 上限调整为 80 亿元；同时授权公司经营管理层根据公司及市场情况， 在上述总规模范围内决定各信用业务的具体规模，并明确经营管理层 作出调整规模决定时需采取有效措施，确保公司净资本及风险控制指 标持续符合相关监管要求。本次授权在下次授权作出前持续有效。 表决情况：同意 5 票，反对 0 票，弃权 0 票。本议案获得通过 ...

出品：新浪财经上市公司研究院 作者：光心 随着8月结束，各家券商半年报已然出炉。据中证协9月1日披露的券商2025年上半年度经营情况，上半 年全行业营收同比高增23.47%至2510.36亿元，净利润同比高增40.37%至1122.80亿元，实现盈利高增。 150家券商中，有128家实现盈利。 分业务口径来看，由于2025年上半年股票市场延续强势，日均股基交易额同比增长63%，自营业务与经 纪业务弹性充分释放，成为业绩增长的主要驱动力。其中，代理买卖证券业务净收入（含交易单元席位 租赁）实现688.42亿元、同比增长48.22%，证券投资收益（含公允价值变动）实现1002.42亿元，同比 增长21.33%。 而与此同时，IPO阶段性压力持续，全行业证券承销与保荐业务净收入143.21亿元、财务顾问业务净收 入22.01亿元，同比微增、持平。 受行业复苏影响，华林证券2025年上半年实现业绩高增，营收、归母净利润分别同比增长35.15%、 172.72%。公司业绩高增主要依赖经纪和自营业务，公司利息净收入增长有限，投行、资管等其他业务 占比又极小，难以贡献业绩增量。 此外，华林证券控股股东和第二大股东近年来多次 ...

Group 1 - Huayin Securities (002945.SZ) experienced a stock price decline, closing at 16.45 yuan, with a drop of 2.72% [1] - The securities sector overall decreased by 0.47%, with Huayin Securities being the largest decliner in this sector [1]

Market Overview - On September 8, the securities sector declined by 0.75%, with Huayin Securities leading the drop [1] - The Shanghai Composite Index closed at 3826.84, up 0.38%, while the Shenzhen Component Index closed at 12666.84, up 0.61% [1] Individual Stock Performance - Notable gainers included Guoyuan Securities (up 1.69% to 9.05), Pacific Securities (up 1.06% to 4.76), and Guosheng Financial Holdings (up 0.91% to 18.76) [1] - Major decliners included Hualin Securities (down 2.72% to 16.45), Great Wall Securities (down 1.96% to 11.51), and CITIC Securities (down 1.27% to 29.45) [2] Trading Volume and Capital Flow - The total trading volume for the securities sector showed a net outflow of 2.526 billion yuan from institutional investors, while retail investors saw a net inflow of 1.181 billion yuan [2][3] - The trading volume for individual stocks varied, with CITIC Securities recording a significant volume of 1.5512 million shares traded, resulting in a transaction value of 4.576 billion yuan [2] Capital Inflow Analysis - Among the stocks, CITIC Securities had a net inflow of 17.75 million yuan from retail investors, while Guoyuan Securities saw a net inflow of 36.73 million yuan from institutional investors [3] - Conversely, Hualin Securities experienced a net outflow of 22.7 million yuan from institutional investors [3]

Core Insights - Huayin Securities experienced a stock price decline of 2.07% on September 8, with a trading price of 16.56 yuan per share and a total market capitalization of 44.712 billion yuan [1] - The company has seen an 8.31% increase in stock price year-to-date, with a recent 2.13% decline over the last five trading days [1] Financial Performance - For the first half of 2025, Huayin Securities reported a net profit of 336 million yuan, representing a year-on-year growth of 172.72% [2] - The company has distributed a total of 891 million yuan in dividends since its A-share listing, with 259 million yuan distributed over the last three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 14.75% to 55,800, while the average circulating shares per person increased by 17.30% to 48,344 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in their holdings [3]

Market Overview - The A-share market experienced a decline on September 4, with the Shanghai Composite Index falling by 1.25% to 3765.88 points, the Shenzhen Component Index down 2.83% to 12118.70 points, and the ChiNext Index dropping 4.25% to 2776.25 points. The total trading volume across the Shanghai and Shenzhen markets reached 2.58 trillion yuan, an increase of 186.2 billion yuan from the previous trading day [2]. New Energy Sector - The new energy sector showed strong activity, particularly in photovoltaic, lithium battery, and energy storage segments, with notable individual stock performances such as Tianhong Lithium Battery hitting a 30% limit up and Shuneng Electric rising over 10%. The demand for energy storage has surged this year, leading to a significant increase in orders for domestic energy storage cell manufacturers [2]. - According to CITIC Securities, the battery manufacturers and leading integrators are expected to be the first to gain incremental profits, with the domestic energy storage business projected to break free from its previous unprofitable status by 2025. The energy storage industry is anticipated to reach a fundamental turning point due to high demand in the European and American markets, optimized supply, and price recovery [3]. Financial Sector - Financial stocks, including banks and brokerages, rebounded in the afternoon session, with Agricultural Bank of China rising over 5% and Postal Savings Bank of China nearly 3%, both reaching historical highs. The overall performance of the banking sector in the first half of 2025 is expected to meet expectations, with profit and revenue growth improving due to various financial policies stabilizing interest margins and alleviating liability pressures [4]. - The brokerage sector also saw gains, with Pacific Securities hitting the limit up and Huayin Securities rising nearly 6%. Historical data indicates a strong correlation between brokerage performance and market conditions, suggesting that the recent increase in A-share trading volume and price could attract active capital to this sector [4]. Technology Sector - The AI computing sector experienced a collective pullback, with several high-profile tech stocks declining significantly. Companies like Xinyi Technology and Tianfu Communication saw drops exceeding 10%. The trading volume in the electronics and communications sector reached approximately 25% of the total market, indicating a high level of trading congestion in these areas [5]. - The market is advised to explore other promising sectors beyond AI, as the rapid increase in trading volume may lead to short-term volatility without affecting mid-term market performance [5].

Group 1 - Pacific Securities (601099) experienced a significant surge, hitting the daily limit up, with other securities firms like Huayin Securities (002945), Guosheng Jinkong (002670), and Xinda Securities (601059) also rising [1] - Huatai Securities' research report indicated that since the beginning of the year, the equity market has been on an upward trend, but the brokerage index has not recovered as much as the broader market, with large brokerages still valued at historically low levels [3] - The report highlighted that the current yield on equity assets is steadily increasing, with stock trading volumes and margin financing continuing to break through, indicating a strong recovery phase for brokerage operations [3] Group 2 - In addition to the securities sector, bank stocks also showed strength, with Agricultural Bank rising over 2% and Postal Savings Bank (601658) increasing by over 1% [4] - The pet economy concept stocks surged in the afternoon, with Yiyi Co. (001206) hitting the daily limit up, and other companies like Jieya Co. (301108) and Tianyuan Pet (301335) rising over 10% [4] - Renewable energy sectors such as photovoltaic and energy storage continued to perform well, with Shangneng Electric (300827) reaching a 20% limit up, and companies like JinkoSolar (002459) also hitting the daily limit [4]

Group 1 - A-share brokerage stocks experienced a significant afternoon rally, with notable increases in share prices [1] - Pacific Securities saw an increase of nearly 9%, while Huayin Securities rose over 5% [1] - Guosheng Financial Holdings increased by over 4%, with other firms like Xinda Securities, Guohai Securities, and First Capital also showing gains [1]

Group 1 - Pacific Securities has reached the daily limit up, indicating strong market performance [1] - Following Pacific Securities, several other companies including Huayin Securities and Guosheng Financial Holdings have also seen their stock prices rise [2] - Additional companies that experienced stock price increases include Xinda Securities, Guohai Securities, First Capital Securities, and Tianfeng Securities [2]

Core Viewpoint - The refinancing project of He Yuan Gas has been approved by the Shenzhen Stock Exchange, allowing the company to raise up to RMB 591.99 million for working capital and debt repayment [1][3]. Summary by Sections Fundraising Details - The total amount to be raised is RMB 59,198.93 million, which will be used entirely for supplementing working capital and repaying interest-bearing debts after deducting related issuance costs [3]. - The issuance will be directed towards specific investors, namely Hubei Jushi Investment Development Co., Ltd. and Yang Tao, both of whom are associated with the company's actual controller [3][5]. - The shares will be issued as domestic listed ordinary shares (A-shares) with a par value of RMB 1.00 per share, priced at RMB 14.98 per share, which is not less than 80% of the average trading price over the previous 20 trading days [3][5]. Subscription Breakdown - The total number of shares to be issued is capped at 40,053,403 shares, which does not exceed 30% of the company's total share capital prior to the issuance [3][5]. - Hubei Jushi will subscribe to 26,702,269 shares, while Yang Tao will subscribe to 13,351,134 shares, totaling 40,053,403 shares and RMB 59,198.93 million [4]. Shareholding Structure Post-Issuance - After the issuance, the total share capital of the company will increase to 251,288,403 shares, with the controlling shareholders maintaining their status as they will hold 43.35% of the shares post-issuance [5]. - The shares subscribed by the specific investors will be locked for 36 months post-issuance [4][5]. Sponsorship - The sponsor for this issuance is Huayin Securities Co., Ltd., with representatives Han Zhiqiang and Li Lu overseeing the process [5].