1月23日，华泰证券股份有限公司（601688.SH/06886.HK，下称"华泰证券"）发布公告称，于当日召开董事会会议，同意选举王会清为第七届董事会董事 长；聘任周易为首席执行官及执行委员会主任；聘任韩臻聪、姜健、张辉、陈天翔、焦晓宁、王宇捷为执行委员会委员；聘任韩臻聪为首席信息官（兼）； 聘任焦晓宁为首席财务官（兼）；聘任焦凯为合规总监、总法律顾问；聘任王翀为首席风险官；聘任孙艳为人力资源总监；聘任张辉为董事会秘书（兼）； 聘任朱有为为证券事务代表。上述人员任期自本次董事会审议通过之日起3年。 公开资料显示，华泰证券成立于1991年，是经中国证监会首批批准的综合类证券公司，于2010年在上海证券交易所上市，2015年在港交所上市，并于2019年 成为首家在伦敦证券交易所发行全球存托凭证（GDR）的中资券商，实现上海、中国香港、伦敦三地上市，业务涵盖财富管理、机构服务、投资管理与国 际业务。 财务数据显示，2025年前三季度，华泰证券实现营业收入271.29亿元，同比增长12.55%；实现归母净利润127.33亿元，同比增长1.69%。截至2025年三季度 末，华泰证券总资产为1.03万亿元，较2024年 ...

证券代码：601688 证券简称：华泰证券 公告编号：临 2026-013 华泰证券股份有限公司关于间接全资子公司根据中期 票据计划进行发行并由全资子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | | | 华泰国际财务有限公司 | | --- | --- | --- | --- | --- | | | 本次担保金额 | | | 亿港币 3.85 | | 担保对象 | 实际为其提供的担保余额 | | | 28.29 亿美元 | | | 是否在前期预计额度内 | 是 | □否 | □不适用 | | | 本次担保是否有反担保 | □是 | 否 | □不适用 | 一、担保情况概述 累计担保情况 | 对外担保逾期的累计金额（人民币亿元） | | - | | --- | --- | --- | | 截至本公告日上市公司及其控股子公司对外担保总额（人民币亿 | | 537.59 | | 元） | | | | 对外担保总额占上市公司最近一期经审计净资产的比例 ...

华泰证券公告称，境外全资子公司华泰国际的附属公司华泰国际财务于2020年设30亿美元中票计划，由 华泰国际担保。2026年1月29日，华泰国际财务在该计划下发行3.85亿港币中期票据，按2025年12月31 日汇率折算，担保金额为3.48亿元。截至发行前，华泰国际已为存续票据提供担保，发行后担保余额为 28.29亿美元。截至公告日，公司及控股子公司担保总额537.59亿元，占最近一期经审计净资产 28.05%，无逾期担保。 ...

Core Viewpoint - The Federal Reserve decided to maintain the federal funds rate target range at 3.5% to 3.75%, aligning with market expectations, while economic activity shows robust expansion but with high uncertainty regarding the economic outlook [1][2]. Group 1: Federal Reserve's Decision - The Federal Reserve's decision to keep interest rates unchanged was anticipated, with a probability exceeding 97% according to CME "FedWatch" [1]. - The Federal Open Market Committee (FOMC) noted that employment growth remains sluggish, but there are signs of stabilization in the unemployment rate, while inflation remains elevated [1][2]. Group 2: Economic Indicators - The overall PCE price index increased by 2.9% over the past 12 months, while the core PCE price index, excluding food and energy, rose by 4.3% [2]. - Powell indicated that tariff-induced inflation is expected to dissipate by mid-2026, suggesting a potential easing of inflationary pressures in the future [3]. Group 3: Market Expectations - The market is currently pricing in two rate cuts for this year, with a high probability of maintaining rates in March exceeding 80% [3]. - Analysts from Huatai Securities and CICC suggest that the Fed's January meeting supports a more optimistic view of the U.S. economy and employment market, with expectations of rate cuts potentially occurring after the new chair takes office mid-year [3].

Core Viewpoint - In 2025, China's economy is expected to grow steadily with a GDP increase of 5%, driven by consumption and high-tech manufacturing, providing a solid macro foundation for the financial industry [1] Group 1: Financial Sector Overview - The financial sector in 2025 shows a characteristic of "steady growth with structural differentiation," with brokerage firms benefiting from increased market activity, banks maintaining resilience despite net interest margin pressure, and the insurance sector experiencing a comprehensive recovery [1] - The brokerage industry reported a significant profit increase, with 39 listed brokerages seeing a 64% year-on-year growth in net profit attributable to shareholders in the first three quarters, driven by investment income [2] - The banking sector demonstrated strong operational resilience, with a notable increase in credit issuance, particularly in Q1 where RMB loans accounted for 60% of the annual total [3] Group 2: Brokerage Industry Insights - Brokerage firms experienced a robust performance in 2025, with net profit in Q3 soaring by 117% year-on-year, and all three main revenue streams (brokerage, investment banking, and asset management) showing continued growth [2] - Leading brokerage firms outperformed smaller ones, with weighted ROE exceeding 10%, and the sector's IT and undervalued H-shares became the main drivers of growth [2] Group 3: Banking Sector Insights - The banking industry is expected to see a continuation of credit growth and structural optimization, with predictions indicating that Q1 credit issuance may reach a record high [7] - Wealth management is anticipated to enter a golden development period, with AUM growth projected to exceed 15% [7] Group 4: Insurance Sector Insights - The insurance industry is poised for a comprehensive recovery, with five A-share listed insurers reporting a 33.5% year-on-year increase in net profit in the first three quarters, driven by investment income [4] - The product structure is shifting towards dividend insurance, which has become a key driver of personal insurance transformation, with new dividend products performing well [4] Group 5: Regulatory Environment - Regulatory compliance emerged as a significant theme in 2025, with the People's Bank of China and the National Financial Regulatory Administration issuing 1,366 fines totaling 21.56 billion yuan, focusing on data quality and compliance issues [5] Group 6: Outlook for 2026 - The financial sector is expected to experience continued recovery in 2026, with brokerage firms likely to remain a core focus due to favorable policies and economic recovery [6] - The insurance sector is anticipated to enter a "golden era" of asset-liability resonance, with significant capital inflows expected to support equity markets [8]

1月29日，A股早盘窄幅震荡，截至9:40，沪指跌0.04%，深成指涨0.22%，创业板指上涨0.34%。 盘面上，黄金等有色金属概念股延续强势，白银有色斩获8连板，中国黄金5连板，四川黄金4连板；油 气等资源股延续活跃，石化油服2连板。下跌方面，军工、半导体、医药等方向跌幅居前。 展望后市，兴业证券认为，虽然行情节奏趋缓，但向上趋势仍在延续，并且结构上赚钱效应正在朝着更 广的范围扩散。 热门板块 1、黄金概念延续强势 油气等资源股延续活跃，石化油服2连板，通源石油、洲际油气、准油股份、中国海油、中曼石油、科 力股份跟涨。 点评：消息面上，中东地区紧张态势升级，成为本轮油价上涨的主力推手。据证券时报，有分析称，近 期地缘政治紧张与美国极端寒潮共同冲击全球能源与化工品供给，导致油价淡季反弹，并可能引发部分 化工品供应短缺，为价格提供支撑。 机构观点 1、兴业证券：虽然行情节奏趋缓，但向上趋势仍在延续 兴业证券认为，虽然行情节奏趋缓，但向上趋势仍在延续，并且结构上赚钱效应正在朝着更广的范围扩 散。配置方面，随着A股上市公司年报预告进入披露高峰，叠加北美科技巨头财报集中披露，业绩对于 结构的影响或将更加显著，继续聚 ...

近期美元指数大幅走弱、创四年新低，总体利好港股，且恒生指数期货等衍生品临近最后交易日(每月 倒数第二个交易日)，使得多空双方博弈加剧，正逢北京时间1月29日凌晨美联储议息会议和新美联储主 席人选预热，市场波动率显著上行。 1月29日凌晨，靴子落地。美联储1月会议维持利率不变，符合市场预期。理事沃勒投下反对票，或与其 希望被提名为下一任美联储主席有关。中金公司（601995）认为：美联储在2026年仍有望降息两次，但 首次降息或推迟至第二季度。 数据显示，港股市场开年以来出现外资和南向共振流入，外资斜率明显更高。EPFR口径下主动外资已 连续两次正流入，系2024年9月以来首次，被动外资流入港股速度同样维持高位，近两周单周分别流入 26.6亿美元、17.1亿美元。 1月29日，恒生指数突破27800点，创2021年以来的近四年新高。对此，华泰证券策略团队分析称：港股 大幅上涨，或归因于流动性宽松交易延续、衍生品放大波动等技术因素。 -港股科技旗舰指数：恒生科技指数ETF(513180.SH)，覆盖港股互联网/硬科技龙头； -互联网巨头及传媒软件：恒生互联网ETF(513330.SH)及其联接C(013172)， ...

Group 1 - The non-ferrous metal sector is leading the market, with 16 constituent stocks including silver and aluminum companies hitting the daily limit, and the Huabao non-ferrous metal ETF (159876) rising by 6.95%, reaching a historical high [1][4] - The Huabao ETF attracted 185 million yuan in a single day, and over the previous 20 days, it accumulated more than 1.4 billion yuan [1][4] - As of January 29, the Huabao ETF's latest scale reached 2.68 billion yuan, marking a new historical high and making it the largest ETF tracking the non-ferrous metal index in the market [4][6] Group 2 - Spot gold prices have surpassed 5,500 USD for the first time, with a weekly increase of over 500 USD, reflecting strong demand for precious metals amid expectations of future monetary easing by the Federal Reserve [3] - The Federal Reserve maintained its target interest rate between 3.5% and 3.75%, aligning with market expectations, which has bolstered the appeal of precious metals as a hedge against inflation [3] - Analysts from CITIC Securities and Dongfang Securities suggest that as long as the Federal Reserve remains in a rate-cutting cycle, non-ferrous metal prices will continue to have upward momentum, indicating the potential onset of a super cycle for industrial metals like copper and aluminum [3][4] Group 3 - The Chicago Mercantile Exchange has adjusted margin parameters for certain silver, platinum, and palladium futures contracts, which may increase short-term volatility in the market [3] - The non-ferrous metal sector is experiencing a comprehensive bull market, with ongoing valuation recovery lagging behind commodity price increases, highlighting the performance elasticity of precious and industrial metals [4][6] - The Huabao ETF covers a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, making it an efficient tool for investors to gain exposure to the non-ferrous metal sector [6]

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华泰证券指出，1月下旬以来，美国遭遇冬季风暴极端天气已造成部分受灾地区天然气/电力供应中断、 能源价格上涨等影响，其中作为美国化工重要供给区的得克萨斯州墨西哥湾沿岸炼油、化工等部分工厂 开工已受影响。考虑到美国较多大宗化工品占全球产能比重仍较高，因而本轮寒潮导致的潜在供给下滑 或对相关产品的供应稳定性造成一定冲击。同时，由于我国大宗化工品已步入产能周期和库存周期双重 拐点，海外供给的潜在下滑或助力国内相关化工品开工率提升及景气率先修复。关注炼油、乙烯、醋 酸、MDI、TDI等。 ...