Group 1 - The company has received a notification from the Henan Provincial People's Government regarding the appointment of a new Vice President, Huaxin Hui [1] - The company is required to promptly carry out the appointment procedures for the Vice President and fulfill the corresponding disclosure obligations as per relevant laws, regulations, and the company's articles of association [1] - The board of directors of the company guarantees that the announcement does not contain any false records, misleading statements, or significant omissions, and assumes legal responsibility for the authenticity, accuracy, and completeness of the content [1]

近日，公司收到河南省人民政府《关于滑欣辉任职的通知》（豫政任〔2025〕 127 号），任命滑欣辉为公司副总经理，按公司法和有关规定办理。公司将按照 相关法律、行政法规和《公司章程》规定，尽快履行副总经理聘任程序，并履行 相应披露义务。 证券代码： 601375 证券简称： 中原证券 公告编号：2025-027 中原证券股份有限公司 关于收到副总经理任职文件的公告 中原证券股份有限公司（以下简称"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法律责任。 中原证券股份有限公司董事会 2025 年 9 月 4 日 特此公告。 ...

Group 1 - The company, Zhongzhou Securities, has announced the appointment of Huan Xinhui as the new Deputy General Manager [1] - The appointment was made by the Henan Provincial People's Government according to the official notification [1] - The company will follow relevant laws, regulations, and its articles of association to complete the appointment process and fulfill disclosure obligations [1]

Core Viewpoint - Zhongzhou Securities (01375) announced the appointment of Huaxinhui as the deputy general manager by the Henan Provincial People's Government [1] Group 1 - The appointment is formalized under the notice number Yu Zheng Ren [2025] 127 [1] - The company will follow relevant laws, administrative regulations, and its articles of association to complete the appointment process [1] - The company will fulfill its disclosure obligations accordingly [1]

Group 1 - The core point of the article is the appointment of Huan Xinhui as the Deputy General Manager of Zhongzhou Securities [1] - The appointment was made by the Henan Provincial People's Government, as indicated in the official notification [1] - The company will follow relevant laws, administrative regulations, and its articles of association to complete the appointment process and fulfill disclosure obligations [1]

Group 1 - The company announced the appointment of Huan Xinhui as the deputy general manager [1] - The appointment was made by the Henan Provincial People's Government [1] - The company will follow relevant laws, regulations, and its articles of association to complete the appointment process and fulfill disclosure obligations [1]

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份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 中原證券股份有限公司 董事長 張秋雲 中國，河南 2025年9月3日 （2002年於中華人民共和國河南省成立的股份有限公司，中文公司名稱為「中原証券股份有限公司」， 在香港以「中州証券」名義開展業務） （股份代號：01375） 收到副總經理任職文件 中原證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，近日，本公司 收到河南省人民政府《關於滑欣輝任職的通知》（豫政任〔2025〕127號），任命滑 欣輝先生為本公司副總經理，按《中華人民共和國公司法》和有關規定辦理。本 公司將按照相關法律、行政法規和《公司章程》的規定，盡快履行副總經理聘任 程序，並履行相應披露義務。 承董事會命 Central China Securities Co., Ltd. 於本公告日期，本公司董事為張秋雲女士、李文強先生、馮若凡先生、唐進先生及田聖春先 生，陳志勇先生*、曾崧先生*及賀俊先生*。 * 本公司獨立非執行董事 ...

Group 1 - Zhongyuan Securities experienced a 2.15% decline in stock price, trading at 4.56 yuan per share with a market capitalization of 21.172 billion yuan as of September 3 [1] - The company reported a net outflow of 9.4141 million yuan in main funds, with significant buying and selling activity from large orders [1] - Year-to-date, Zhongyuan Securities' stock price has increased by 5.97%, with a 1.30% decline over the last five trading days [1] Group 2 - As of June 30, Zhongyuan Securities had 120,400 shareholders, a decrease of 3.84% from the previous period, while the average number of circulating shares per person increased by 3.99% [2] - For the first half of 2025, the company reported zero operating revenue but a net profit attributable to shareholders of 260 million yuan, representing a year-on-year growth of 29.34% [2] Group 3 - Since its A-share listing, Zhongyuan Securities has distributed a total of 1.472 billion yuan in dividends, with 204 million yuan distributed over the past three years [3] - As of June 30, 2025, the top ten circulating shareholders included the Guotai Zhongzheng All-Index Securities Company ETF, which reduced its holdings by 4.443 million shares [3]

Group 1: Lithium Battery Industry Overview - China's lithium battery and new energy vehicle industries have significant global competitiveness, with the lithium battery sector's valuation notably below the industry median level of 44.41 times since 2013 [1] - The lithium battery segment is expected to generate revenue of 2.25 trillion yuan in 2024, with a compound annual growth rate (CAGR) of 21.80% from 2018 to 2024, despite a substantial decline in net profit projected for 2023-2024 [1] - Key issues in the lithium battery industry include a mismatch between net profit scale and global industry position, overall low profitability, and excess capacity due to continuous release of production capacity in the segmented fields [1] Group 2: New Energy Vehicle Industry Overview - Since 2009, China's automotive production and sales have ranked first globally, with projections indicating over 30 million units produced and sold in 2024, making China the largest automobile exporter [2] - The new energy vehicle sector has maintained a leading position globally, with sales expected to reach 12.859 million units in 2024, a year-on-year increase of 36.10%, accounting for 40.92% of total new energy vehicle sales in China [2] - Despite growth in production and sales, the overall profitability of the automotive industry remains low, with projected profits of 462.3 billion yuan in 2024, significantly lower than the peak profit of 688.3 billion yuan in 2017 [2] Group 3: Policy Measures Against "Involution" Competition - The Chinese government has initiated a series of macro policies to address "involution" competition, with the central political bureau emphasizing the need to prevent such competition for the first time in July 2024 [3] - Various government bodies and industry associations have introduced self-regulatory initiatives and policies aimed at enhancing the global competitiveness of the new energy vehicle and lithium battery industries [3] - The comprehensive measures against involution are expected to further strengthen the global competitiveness of China's new energy vehicle and lithium battery sectors [3]

Core Viewpoint - Zhongyuan Media has shown strong financial performance in H1 2025, with significant increases in net profit and effective cost control measures leading to improved profitability [2][3]. Financial Performance - In H1 2025, Zhongyuan Media achieved operating revenue of 4.575 billion yuan, a year-on-year increase of 1.00%, and a net profit attributable to shareholders of 532 million yuan, up 50.39% year-on-year [2]. - For Q2 2025, the company reported operating revenue of 2.659 billion yuan, a year-on-year increase of 0.97% and a quarter-on-quarter increase of 38.76%, with a net profit of 422 million yuan, up 31.51% year-on-year and 283.55% quarter-on-quarter [2]. Cost Control and Profitability - The reduction in income tax expenses and effective cost management contributed to the performance improvement, with the gross margin at 38.14%, a slight increase of 0.13 percentage points year-on-year, and a significant rise in net margin from 8.02% to 11.97% [3]. - Sales and management expenses decreased by 9.68% and 8.20% year-on-year, respectively, leading to a decline in expense ratios [3]. Business Segmentation - The publishing segment generated 1.564 billion yuan in revenue, a slight decrease of 0.41%, while the distribution segment saw a revenue increase of 0.19% to 3.692 billion yuan [3]. - The printing business experienced a significant decline in revenue by 41.35%, but its impact on overall performance was minimal due to its smaller scale [3]. Innovation and Digital Transformation - The company has enhanced its content innovation capabilities, with 45 projects receiving national and provincial awards, and 85 books achieving copyright exports [4]. - Digital platforms have seen significant growth, with "Shuxiang Henan" and "Baixing Cultural Cloud" platforms recording 27.65 million new views and 82,500 new users [4][5]. Strategic Business Development - Zhongyuan Media is expanding its innovative business layout, with 278 innovative product offerings and 68 approved after-school service courses [6]. - The integration of smart education, after-school services, and research-based practices is forming a comprehensive service ecosystem [6]. Profit Forecast - The projected net profits for 2025, 2026, and 2027 are 1.319 billion yuan, 1.390 billion yuan, and 1.407 billion yuan, respectively, with corresponding PE ratios of 10.10, 9.58, and 9.47 [6].