Huaan Securities(SH:600909) Zhong Guo Zheng Quan Bao·2025-12-09 20:49Core Viewpoint - The concept of "Yili Qili" (义取利) is emphasized as a crucial part of China's financial culture, guiding securities firms to balance commercial value and social value in the context of building a strong financial nation [1][2]. Group 1: Functionality and Profitability - There are two opposing views regarding the core positioning of securities companies: one prioritizes profit for shareholders, while the other emphasizes social responsibility [2]. - The "Yili Qili" concept transcends this dichotomy, suggesting that the economic, political, and social functions of securities firms are interconnected and should be viewed as an organic whole [2][3]. - Securities companies serve as a vital bridge between savings and investments, facilitating economic cycles and supporting the high-quality development of the real economy [2]. Group 2: Political and Social Functions - Securities firms utilize capital market tools to support national strategies, focusing on key areas such as technological independence and green development [3]. - The social function of securities firms includes promoting inclusive finance and investor education, ensuring that financial services benefit a broader population [3][6]. - The essence of "Yili Qili" is achieving a dynamic balance among the three major functions of securities firms, aligning political, social, and economic goals [3]. Group 3: High-Quality Development - The "Yili Qili" culture is embedded in the path toward high-quality development for securities firms, requiring a balance between various important relationships [4]. - The company integrates the "Yili Qili" philosophy into its governance and operational practices, emphasizing long-term thinking and sustainable growth [5]. - Compliance and risk management are viewed as essential components of the "Yili" and "Li" balance, with a focus on establishing a comprehensive risk management system [5]. Group 4: Contribution to National Strategy - The effectiveness of "Yili Qili" is reflected in the company's contributions to the political and social dimensions of financial work [6]. - The company enhances its service capabilities through a systematic approach, focusing on innovation and supporting emerging industries [6][7]. - The company actively engages in national strategies, such as the integration of the Yangtze River Delta, and promotes investor education to foster a rational investment mindset among small investors [7]. Group 5: Future Outlook - The company aims to align with national strategic deployments and deepen its understanding of the "Yili Qili" concept, exploring optimal paths for high-quality development [7].