PACIFIC SECURITIES(SH:601099) Dong Jian Yan Bao·2025-09-12 14:43Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating. 2. Core Viewpoints - The report is based on a research of Pacific in the securities industry. It records the questions raised by investors and the company's responses, covering aspects such as performance outlook, shareholder information, acquisition progress, business strategies, overseas business contributions, and capital flow analysis [24]. 3. Summary by Directory 3.1 Research Basic Situation - The research object is Pacific, belonging to the securities industry. The reception time was September 12, 2025. The listed company's reception staff included General Manager Li Changwei, Deputy General Manager and Financial Controller Xu Diwei, Board Secretary Luan Luan, and Independent Director Zhao Chuanxiang [17]. 3.2 Detailed Research Institutions - The research institutions included investors and others, but specific details about other institutions were not provided [20]. 3.3 Research Institution Proportion - No information provided on the proportion of research institutions. 3.4 Main Content Data - Performance and Development Outlook: When asked about the company's performance and development information for the third - quarter and the whole year, the company stated that it would disclose relevant information in accordance with laws and regulations [24]. - Shareholder Information: Regarding the change in the number of shareholders and whether Goldman Sachs still holds shares, the company said that except for the end - of - quarter data, other time - point shareholder numbers are not public information, and shareholder information will be disclosed in regular reports [24]. - Acquisition Progress: The application for the change of shareholders in the acquisition of Pacific Securities by Huachuang Yunxin still needs to be approved by the China Securities Regulatory Commission, and the final result is uncertain [24]. - Business Strategies: To improve ROE and operating efficiency, the company will provide comprehensive wealth management services to customers, offer investment and financing services to small and medium - sized enterprises, and leverage its advantages in the bond field [24]. - Overseas Business Contributions: The company participates in the Southeast Asian capital market through a stake in Lao - Chinese Securities. In the first half of this year, Lao - Chinese Securities achieved an operating income of 7.48 million yuan and a net profit of 5.16 million yuan [25]. - Capital Flow Analysis: The company believes that the capital flow of its stock is affected by multiple factors such as macro - economic situation, secondary - market trend, and investor psychology, and there is no undisclosed information [25].