一年一度的证券公司分类评价结果出炉了。 券商中国记者从权威渠道了解到，证监会近日向证券公司通报了2025年分类评价结果。目前，全行业参评公司 共107家（母子公司合并评价），其中评价结果为A类的公司53家，B类公司43家，C类公司11家，A类公司 中，AA级公司14家。 分类评价制度已经成为证券公司监管的基础性制度安排之一，是传递监管导向、发挥监管"指挥棒"作用的重要 途径，在有效实施审慎监管、提高监管效能，引导证券公司强化合规风控、服务实体经济等方面发挥了重要作 用。据接近监管层的相关人士介绍，本年度的证券公司分类评价以今年8月修订后的《证券公司分类评价规 定》（以下简称《评价规定》）为依据，平稳落实了各项新规定和新指标。 AA级公司在A类公司中占比约25% 今年的分类评价结果显示，A类的公司53家，B类公司43家，C类公司11家，A类公司中，AA级公司14家。据 了解，近年来证券公司各类别的数量总体保持稳定，A、B、C类公司数量占比分别约为50%、40%、10%，AA 级公司在A类公司中占比约25%。 证券公司分类评价自2007年启动，每年进行一次，评价期为上一年度5月1日至本年度4月30日，按照证券公司 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the classification results for securities companies for 2025, with 107 companies evaluated, maintaining a stable distribution among categories A, B, and C, and emphasizing the importance of regulatory guidance and transparency in the evaluation process [1][2]. Group 1: Classification Results - A total of 107 securities companies were evaluated, with 53 classified as A, 43 as B, and 11 as C, indicating a stable distribution across categories [1]. - Among A-class companies, 14 were rated as AA, representing approximately 25% of A-class companies [1]. Group 2: Evaluation System - The classification evaluation system consists of four main parts: compliance status, business development status, risk management capability, and special work performance [3]. - The evaluation process includes self-assessment by the companies, initial review by the local regulatory bureau, and final verification by the CSRC [2]. Group 3: Regulatory Focus - The evaluation work emphasizes three new directions: enhancing the functionality of securities companies, improving professional capabilities, and maintaining strict regulatory oversight [4][5]. - New indicators have been added to encourage securities companies to engage in long-term capital market activities and improve their service to the real economy [4][5]. Group 4: Compliance and Risk Management - The evaluation framework stresses the importance of compliance and risk management, incorporating various aspects such as administrative penalties and governance issues into the scoring system [6]. - Companies with weak compliance and risk management capabilities will face stricter evaluations, reflecting their overall risk status [6].

Core Insights - The annual classification evaluation results for securities companies have been released, with 107 companies evaluated, resulting in 53 classified as A, 43 as B, and 11 as C, with 14 of the A-class companies rated as AA [1][2] Summary by Sections Classification Results - A total of 107 securities companies participated in the evaluation, with 53 classified as A, 43 as B, and 11 as C. Among the A-class companies, 14 are rated as AA, representing approximately 25% of A-class companies [2] Evaluation Framework - The classification evaluation system consists of four main parts: compliance status, business development status, risk management capability, and special work conditions. Each part has specific indicators that can lead to points being added or deducted based on performance [3] Regulatory Focus - The evaluation process is dynamic and adjusts according to economic and industry needs. This year, the focus is on risk prevention, strong regulation, and promoting high-quality development, aligning with the directives from the 20th National Congress and the Central Financial Work Conference [4] Professional Capability Enhancement - The evaluation encourages securities companies to enhance their professional capabilities, particularly in mergers and acquisitions, investment banking quality, and direct financing services. It emphasizes the importance of serving the real economy and maintaining market stability [5][6] Compliance and Risk Management - The evaluation underscores strict compliance and risk management, incorporating various entities and potential risks into the assessment. It aims to reflect the overall compliance and risk management capabilities of the companies accurately [7] Future Directions - The China Securities Regulatory Commission (CSRC) plans to enhance the transparency and fairness of the evaluation process for 2025, providing guidance to the industry on regulatory directions and key requirements [8]

Core Viewpoint - The annual classification evaluation results for securities companies have been released, indicating a stable distribution among categories A, B, and C, with a focus on compliance, risk management, and service to the real economy [1][3]. Summary by Sections Classification Results - A total of 107 securities companies participated in the evaluation, with 53 classified as A, 43 as B, and 11 as C. Among A-class companies, 14 achieved AA-level status, representing approximately 25% of A-class companies [2][3]. Evaluation Framework - The classification evaluation system consists of four main parts: compliance status, business development status, risk management capability, and special work conditions. Each part has specific indicators that can lead to points being added or deducted based on performance [4]. Regulatory Focus - The evaluation emphasizes the importance of compliance and risk management, with a zero-tolerance approach to violations. It includes a comprehensive assessment of various entities within securities companies, including branches and key personnel [10]. Encouraging High-Quality Development - The evaluation aims to guide securities companies in enhancing their functions and professional capabilities, particularly in areas such as mergers and acquisitions, investment banking quality, and social responsibility [6][7][8]. Dynamic Adjustment of Evaluation Criteria - The evaluation criteria are not static; they are adjusted based on economic and industry developments. This year, the focus is on risk prevention, strong regulation, and promoting high-quality development in line with national financial policies [6][8]. Enhancing Service to the Real Economy - The evaluation encourages securities companies to improve their service to the real economy by adding indicators related to long-term capital market participation and wealth management services [5][6]. Transparency and Guidance - The regulatory body plans to enhance the transparency and guidance of the evaluation process, ensuring that the industry understands the regulatory direction and requirements [10].

下一步，协会将根据评价试行情况及时总结实践经验，根据监管部门和会员单位的意见建议进一步研究 优化评价指标和工作机制，更好地发挥专项评价的激励约束作用，引导证券公司更好地发挥功能性，推 动证券行业高质量发展。 责任编辑：何俊熹 人民财讯9月25日电，记者今日获悉，中证协已向券商发送了《关于2025年证券公司做好金融"五篇大文 章'专项评价结果的通知》。据悉，今年组织完成了107家参评券商（合并口径）评价数据的填报与复 核，并通过数据报送系统向各券商一对一反馈确认评价数据，将主要定量指标排名情况在业内进行了公 示，目前已形成了评价结果。 根据评价工作安排，此次做好金融"五篇大文章"专项评价结果将纳入2025年证券公司分类评价，按照公 司实际得分折算加分（满分100分折算为1分）。为发挥专项评价的激励引导作用，保证评价工作的公平 合理，折算时，将去除基础分得分（即，仅有基础分的公司，分类评价中不予加分）。 ...

Core Viewpoint - The regulatory authorities have initiated the classification evaluation work for securities companies for 2025, marking the first evaluation under the newly revised regulations, which covers 107 firms and has already seen the submission of self-assessment reports by these institutions [1][2]. Group 1: Regulatory Changes - The China Securities Regulatory Commission (CSRC) released the revised "Securities Company Classification Evaluation Regulations" on August 22, which is the fourth modification since the implementation of the classification rating system in 2009, with the last change occurring five years ago [3]. - Significant changes in the new regulations include the removal of the "operating income" scoring item, which reduces the redundancy of scale-related indicators [3]. - The new rules enhance the scoring for Return on Equity (ROE), with specific points awarded based on the previous year's net profit ranking and ROE positioning within the industry [3]. Group 2: Evaluation Criteria - The evaluation will include special assessments on securities companies' social responsibility, industry culture, service to small and medium enterprises, and participation in the Beijing Stock Exchange market reform [2]. - Companies that perform well in special regulatory tasks will receive additional points, while those that do not comply will face point deductions [2]. Group 3: Impact on the Industry - The classification evaluation results will directly influence new business pilot qualifications, investor protection fund contributions, regulatory resource allocation, credit ratings, and financing costs [4]. - The shift in business focus encourages smaller institutions to deepen their engagement in niche areas, promoting a more differentiated and specialized competitive landscape within the industry [4].

券商"大考"，开始了！ 记者从业内获悉，监管部门近期已启动2025年证券公司分类评价工作，本次评价共覆盖107家券商，目 前各机构已完成自评底稿的报送工作。 今年8月22日，证监会发布《关于修改〈证券公司分类监管规定〉的决定》，将《证券公司分类监管规 定》更名为《证券公司分类评价规定》，并作多项重要修订。 此次评价作为《证券公司分类评价规定》修订发布后的"首评"备受关注。业内人士表示，今年报送内容 已经依据新版规定进行了个别调整。 【导读】监管启动2025年证券公司分类评价工作，是新规后首次 中国基金报记者 孙越 2025年券商分类评价工作启动 监管部门近期下发《关于做好2025年证券公司分类评价自评工作的通知》（以下简称《通知》）。 具体来看，《通知》显示，根据新规第十五条规定，在今年分类评价工作中，将对证券公司服务脱贫攻 坚等社会责任履行情况、行业文化建设、功能发挥情况、证券公司服务中小企业、参与北交所市场改革 情况进行专项评价。 在今年分类评价工作中，将对落实专项监管工作突出的证券公司予以适当加分激励，对落实专项监管工 作不力的证券公司予以扣分。相关评价标准经专家评审会审议后由，证监会机构司将在分类评价 ...

【导读】监管启动2025年证券公司分类评价工作，是新规后首次 券商"大考"，开始了！ 记者从业内获悉，监管部门近期已启动2025年证券公司分类评价工作，本次评价共覆盖107家券商，目 前各机构已完成自评底稿的报送工作。 今年8月22日，证监会发布《关于修改〈证券公司分类监管规定〉的决定》，将《证券公司分类监管规 定》更名为《证券公司分类评价规定》，并作多项重要修订。 此外，券商应如实标注评价工作底稿"B表"中评价期内因反洗钱等问题被其他政府部门采取行政处罚措 施的情况，并在备注栏填写具体情况。具体情况应当包括但不限于：处罚类型及金额，受罚对象名称、 受罚时间、事由、发文单位名称、文号等。 新版分类评价规定变化显著 8月22日，证监会发布的《证券公司分类评价规定》正式实施。这是自2009年券商分类评级制度实施以 来的第4次修改，距离上一次修改已时隔5年。 新规中较为突出的变化包括：取消了"营业收入"的加分项，不再对营业收入按排名加分，减少规模类指 标重复加分。 新规提升了对净资产收益率ROE的加分力度，规定"证券公司上一年净利润位于中位数以上，且净资产 收益率位于行业前5名、前10名、前20名、前30名的，分别 ...

监管部门近期下发《关于做好2025年证券公司分类评价自评工作的通知》（以下简称《通知》）。 具体来看，《通知》显示，根据新规第十五条规定，在今年分类评价工作中，将对证券公司服务脱贫攻坚等社会责任履行情况、行业文化 建设、功能发挥情况、证券公司服务中小企业、参与北交所市场改革情况进行专项评价。 【导读】监管启动2025年证券公司分类评价工作，是新规后首次 中国基金报记者 孙越 券商"大考"，开始了！ 记者从业内获悉，监管部门近期已启动2025年证券公司分类评价工作，本次评价共覆盖107家券商，目前各机构已完成自评底稿的报送工 作。 今年8月22日，证监会发布《关于修改〈证券公司分类监管规定〉的决定》，将《证券公司分类监管规定》更名为《证券公司分类评价规 定》，并作多项重要修订。 此次评价作为《证券公司分类评价规定》修订发布后的"首评"备受关注。业内人士表示，今年报送内容已经依据新版规定进行了个别调 整。 2025年券商分类评价工作启动 加分项中，细分主业的加分覆盖面有所扩大，经纪、投行、资管等主要业务收入加分由前20名扩大到前30名，按名次加0.25分到2分不 等。即代理买卖证券业务收入或基于柜台与机构客户对手 ...

● 本报记者赵中昊 工作底稿加减分项明确划定 多年来，券商年度分类评价自评已形成一套清晰的量化指标体系。据券商人士介绍，自评工作底稿内容 主要分为加分项和扣分项两部分。其中，加分项指标共17项，涵盖了券商上一年度各主营业务收入在行 业中的排名、上一年度自营投资中权益类资产的占比、代理销售权益类基金保有规模增量、净利润及净 资产收益率排名、信息技术投入情况、风控指标的达标情况等多个维度。此外，券商上一年度文化建设 实践评估结果、社会责任履行情况以及回购、分红情况等亦在加分项之列。 扣分项则重点关注券商的资本充足水平、公司治理与合规管理、全面风险管理体系有效性、信息技术管 理情况、客户权益保护、信息披露质量以及受到监管部门或自律组织的处罚情况等。此外，券商员工及 高管薪酬发放情况、全部集合资产管理产品出资的股票质押融出资金规模及违约规模等亦在扣分项之 列。 8月22日，中国证监会发布《关于修改〈证券公司分类监管规定〉的决定》，将《证券公司分类监管规 定》更名为《证券公司分类评价规定》，并作多项重要修订。此次修订是券商分类评级制度自2009年实 施以来的第四次调整，距上一次修订相隔五年。 近日，中国证券报记者从业内 ...