香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 海外監管公告 本公告乃由中國銀河證券股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站發佈之《中國銀河證券股份有限公司關於行 使「20銀河Y1」發行人贖回選擇權的第三次提示性公告》，僅供參閱。 承董事會命 证券代码：601881 证券简称：中国银河 公告编号：2025-094 中国银河证券股份有限公司 关于行使"20 银河 Y1"发行人赎回选择权的 第三次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带 责任。 中國銀河證券股份有限公司 王晟 董事長及執行董事 中國北京 2025年10月21日 於本公告日期，本公司執行董事為王晟先生（董事長）及薛軍先生（副董事長及總 裁） ...

茲提述中國銀河證券股份有限公司（「本公司」）日期為2025年1月23日的通函以及 2025年2月17日之公告。 於2025年2月17日召開的2025年第一次臨時股東大會上，本公司通過了股東大會 對本公司董事會（「董事會」）的授權方案的修訂，據此，股東大會授權董事會發行 債務融資工具，發行規模合計不超過本公司最近一期經審計淨資產的350%。 董事會欣然宣佈，根據上述股東授權，本公司已於2025年10月21日完成2025年度 第二十五期短期融資券發行（「本期融資券」）。本期融資券的發行規模為人民幣40 億元，面值及發行價均為每單位人民幣100元。本期融資券的期限為206天，最終 票面利率為1.72%。本期融資券發行所募集的資金將用於補充本公司流動資金。 承董事會命 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 中國銀河證券股份有限公司 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 公告 2025年度第二十五期短期融資券發行完畢 ...

Core Insights - The report from China Galaxy Securities indicates a market style switch in early October, leading to a recovery in the food and beverage index, with snacks, beer, and health products showing significant gains [1] - Looking ahead to late October, the focus will shift to Q3 earnings reports, with companies in the new consumption sector expected to perform well, highlighting potential investment opportunities in high-performing stocks and sectors [1] - For Q4 2025, two key themes are suggested: first, a year-end valuation switch focusing on new consumption companies with solid fundamentals; second, attention to cyclical sectors with low valuations and supply clearing, as PPI improvements gradually transmit to CPI [1]

Core Viewpoint - The report from China Galaxy Securities indicates a market style switch in early October, leading to a recovery in the food and beverage index, with snacks, beer, and health products showing significant gains. The trend of style switching is expected to continue, with a focus on third-quarter earnings reports in late October, particularly for companies in the new consumption sector that are anticipated to perform well [1][2]. Group 1: Market Trends - The food and beverage sector saw a 1.3% increase from October 1 to October 15, outperforming the Wind All A index by 2.1%, ranking 14th among 31 sub-industries [4]. - Eight out of ten sub-sectors achieved positive monthly returns, with snacks, beer, health products, and seasoning and fermentation products leading the gains at +3.5%, +3.1%, +2.9%, and +2.4% respectively [4]. Group 2: Industry Insights - The 2025 Autumn Sugar and Wine Fair took place from October 11 to 15 in Nanjing, featuring a predominance of small and medium brands, with health-oriented products continuing to drive innovation [1]. - In the liquor segment, there is a weak recovery in demand during the Mid-Autumn Festival and National Day, with high channel inventory indicating a prolonged destocking period [1][2]. - The beverage sector is seeing a high density of NFC juice layouts, with new coconut water brands emerging, while traditional categories are experiencing increased competition [2]. - The snack category is focusing on health trends, with growth in products emphasizing formula optimization and the introduction of traditional Chinese snacks [2]. Group 3: Pricing and Cost Analysis - As of October 15, the wholesale prices for various liquor brands showed slight recovery compared to September, but year-on-year comparisons indicate significant declines [3]. - Packaging material prices have varied, with glass and PET prices down by 4.6% and 13.7% respectively, while aluminum and cardboard prices have increased [3]. - Raw material costs for several key ingredients have decreased year-on-year, with notable declines in pork and quail egg prices, while palm oil and sunflower seed prices have increased [3].

Core Viewpoint - The market style switch in early October has led to a recovery in the food and beverage index, with snacks, beer, and health products showing significant gains. The trend of style switching is expected to continue [1] Group 1: Market Performance - In early October, the food and beverage index experienced a recovery due to a market style switch, with snacks, beer, and health products leading in gains [1] - The focus for the market in late October will be on the third-quarter earnings reports, particularly for companies representing the new consumption direction, which are expected to show strong performance [1] Group 2: Future Outlook - For the fourth quarter, two key themes are suggested for attention: 1) The year-end valuation switch, focusing on new consumption companies with solid fundamentals [1] 2) The expectation of PPI improvement gradually transmitting to CPI improvement, highlighting low-valuation and supply-clearing cyclical stocks [1]

Core Points - China Galaxy Securities Co., Ltd. successfully issued its sixth short-term financing bond for the year 2025 on March 18, 2025, with an issuance amount of RMB 3 billion and a coupon rate of 1.99% [1] - The term of the short-term financing bond is 213 days, with a maturity date set for October 17, 2025 [1] - On October 17, 2025, the company repaid the principal and interest of the short-term financing bond, totaling RMB 3.035 billion [1]

最新公告列表 截至2025年10月20日收盘，中国银河（601881）报收于17.76元，较前一交易日下跌0.62%，最新总市值 为1941.95亿元。该股当日开盘18.05元，最高18.15元，最低17.71元，成交额达7.24亿元，换手率为 0.56%。 近日，中国银河发布关于2025年度第六期短期融资券兑付完成的公告。公告显示，中国银河证券股份有 限公司于2025年3月18日成功发行2025年度第六期短期融资券，发行额为人民币30亿元，票面利率为 1.99%，期限为213天，兑付日期为2025年10月17日。2025年10月17日，公司已兑付本期短期融资券本 息合计人民币3,034,838,630.14元。相关发行结果详见公司于2025年3月19日在上交所网站发布的公告。 公司董事会保证公告内容真实、准确、完整，无虚假记载、误导性陈述或重大遗漏。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 《中国银河：2025年度第六期短期融资券兑付完成的公告》 ...

Core Points - China Galaxy Securities Co., Ltd. successfully issued its sixth short-term financing bond for 2025 on March 18, 2025, with a total issuance amount of RMB 3 billion [2] - The bond has a coupon rate of 1.99% and a maturity period of 213 days, with the repayment date set for October 17, 2025 [2] - On October 17, 2025, the company repaid the principal and interest of the bond, totaling RMB 3,034,838,630.14 [2]

Core Points - China Galaxy Securities successfully issued its sixth short-term financing bond for 2025 on March 18, 2025, with an issuance amount of RMB 3 billion and a coupon rate of 1.99% [1] - The bond has a maturity period of 213 days, with a repayment date set for October 17, 2025 [1] - On the repayment date, the company paid a total of RMB 3.035 billion, which includes both the principal and interest of the bond [1]

证券代码：601881 证券简称：中国银河 公告编号：2025-092 2025 年 10 月 17 日，本公司兑付了本期短期融资券本息共计人民币 3,034,838,630.14 元。 特此公告。 中国银河证券股份有限公司董事会 2025 年 10 月 21 日 中国银河证券股份有限公司 2025年度第六期短期融资券兑付完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带 责任。 中国银河证券股份有限公司（以下简称"本公司"）于 2025 年 3 月 18 日 成功发行了中国银河证券股份有限公司 2025 年度第六期短期融资券（以下简 称"本期短期融资券"），本期短期融资券发行额为人民币 30 亿元，票面利 率为 1.99%，短期融资券期限为 213 天，兑付日期为 2025 年 10 月 17 日。（详 见本公司于 2025 年 3 月 19 日刊登于上海证券交易所网站（www.sse.com.cn） 的《中国银河证券股份有限公司 2025 年度第六期短期融资券发行结果公告》）。 ...