当晚，针对"合并"传闻，兴业证券发布澄清公告称，截至目前，公司未得到任何来自政府部门、监管机构或公司股东有关上述传闻的书面或口头的信息。经 公司与控股股东福建省财政厅确认，控股股东不存在筹划上述传闻所称事项或其他涉及公司的应披露而未披露的重大事项，公司亦无应披露而未披露的信 息。 6月11日，有网友发帖称"兴业证券有大事官宣，闽籍航母箭在弦上"。当日二级市场上，兴业证券股价走高，午后一度涨停，收报6.47元/股，涨9.29%，总市 值达559亿元。 对此，外界有传闻称"闵系两大券商兴业证券和华福证券将合并"。不过，兴业证券证券事务部相关负责人对南都·湾财社记者表示："公司的重大事项都会对 外披露，没有对外披露则说明没有。" "合并"传闻未获证实，随之而来的则是兴业证券"换帅"的消息。6月11日下午，媒体报道称，兴业证券召开全体干部大会，会上宣布人事任命——苏军良担 任兴业证券党委书记，拟任董事长。值得注意的是，苏军良恰是华福证券党委书记、董事长。 卅载银行生涯，知命之年转战券商 1972年出生的苏军良，在"转战"券商前已是一位银行老将。 公开资料显示，自1992年起，苏军良在兴业银行工作了30年，曾在福建泉州 ...

出品｜搜狐财经 作者｜汪梦婷 6月11日晚间，兴业证券发布公告，称关注到有市场传闻称公司将与华福证券有限责任公司进行合并。 兴业证券表示，截至公告披露日，公司未得到任何来自政府部门、监管机构或公司股东有关上述传闻的书面或口头的信息。经公司与控股股东福建省财政厅 确认，控股股东不存在筹划上述传闻所称事项或其他涉及公司的应披露而未披露的重大事项，公司亦无应披露而未披露的信息。 此前，兴业证券领导层人事变动，令市场猜测其或与华福证券合并。6月11日，兴业证券召开干部大会，宣布由原华福证券董事长苏军良担任兴业证券党委 书记，拟任董事长。由于任职年龄原因，杨华辉不再担任兴业证券党委书记。 公开信息显示，苏军良出生于1972年，曾在兴业银行工作 30 余年，历任兴业银行南宁分行、福州分行、杭州分行党委书记、行长等职，近年担任福建省金 融投资有限公司党委委员、副总经理，华福证券党委书记、董事长。 从股权结构看，兴业证券与华福证券均为"闽系券商"。目前，华福证券第一大股东是持股46.72%的福建金投公司，第二大股东是持股27%的福建投资开发集 团，第三股东是持股4.35%的兴业信托。 兴业证券第一大股东为持股20.49%的福 ...

（图片来源：视觉中国） 蓝鲸新闻6月11日讯（记者 王婉莹）两家闽系券商迎来重要人士变动。蓝鲸新闻记者获悉，今日下午，兴业证券（601377.SH）召开全体干部 大会，省委组织部宣布重要人事任命——苏军良担任兴业证券党委书记，拟任董事长。由于任职年龄原因，杨华辉不再担任兴业证券党委书 记。 苏军良转任兴业证券后，华福证券董事长一职谁来"接棒"？业界较多的猜测是由总裁黄德良担纲。 华福证券方面则向记者表示，"目前暂无定论，等省委组织安排。" 记者关注到，"70"后苏军良与"兴业"颇有渊源。自1992年起，其曾在兴业银行工作30多年，辗转福建泉州、山东潍坊、贵州贵阳、广西南宁等 兴业银行多个核心区域机构，历任兴业银行南宁分行行长、福州分行行长、杭州分行行长。2023年1月，苏军良担任福建省金融投资有限责任 公司副总经理，同年3月，接替黄金琳担任华福证券董事长。 就此算来，苏军良在华福证券的时间不过两年左右，但从内部评价来看，普遍认为其工作很拼，并且具有较强的资源整合能力。彼时其加盟华 福证券时，曾表示，会将全身心投入到华福证券经营发展事业，不忘初心、牢记使命、锐意进取，以"功成不必在我"的境界和"功成必定有 我" ...

2025.06.11 导读 ： 券商新一轮并购预期再起；多家车企响应政策 ； 解锁【第一财经智享会员】实时解读市场动态，把握投资先机。 【第一财经智享会员专属】 【 今 日 速 读 】 精选行业研报，助您捕捉行业风口 【精选快读】 东吴证券表示，"汇金系"券商的股权调整有望推动证券行业新一轮并购，可关注证券行业同一实控人下行政化并购与市场化并购主线，重点关注以下两方 面：一是同属同一实控人的证券机构；二是后续市场化并购可能性较高的证券公司。因此，接下来券商互金板块值得期待。 相关标的： * * * * * * 、 * * * * * * 、 * * * * * *等 ； 风险提示： 政策不及预期；资本市场波动加大；居民财富增长不及预期、并购重组推进放缓。 2、多家车企承诺支付账期不超6 0天，产业进入高质量发展新阶段 1、券商新一轮并购预期再起，券商互金板块值得期待 中央汇金新晋多家券商实控人，市场并购预期再起。 6月6日，证监会核准中央汇金投资有限责任公司成为长城国瑞证券有限公司、东兴证券股份有限公司、信达证券股份有限公司、东兴基金管理有限公司、 信达澳亚基金管理有限公司、长城期货股份有限公司、东兴期货有限 ...

Core Viewpoint - The financial sector experienced a significant surge in response to merger rumors, with various ETFs and securities showing notable gains, indicating a positive market sentiment towards potential consolidation in the industry [1][4][5]. ETF Performance - The Hong Kong Securities ETF rose by 3.11%, while other financial ETFs also saw increases, with the Securities ETF Leader up by 2.19% and the Insurance Securities ETF up by 2.18% [2]. - The top-performing ETFs included the Hong Kong Securities ETF, which has a year-to-date increase of 14.24%, and the Port Hong Kong Financial ETF, which has increased by 18.70% this year [2]. Market Catalysts - Multiple catalysts are driving the sector's performance, including a policy from the Central Committee and State Council that allows companies from the Guangdong-Hong Kong-Macao Greater Bay Area to list on the Shenzhen Stock Exchange, potentially boosting IPO activities and improving brokerage revenues [4]. - Recent approvals from the China Securities Regulatory Commission (CSRC) for several brokerages to change their actual controllers to Central Huijin have reignited market expectations for mergers and acquisitions among brokerages [4][6]. Regulatory Support - The Central Financial Work Conference emphasized the need to accelerate the construction of a strong financial sector and encouraged mergers and acquisitions to enhance the competitiveness of investment banks [6]. - The CSRC's support for mergers among brokerages under the same controlling entity is expected to lead to increased consolidation activity in the sector [6][7]. Share Buybacks - There has been a rise in "cancellation-style" share buybacks among brokerages, with six firms having repurchased a total of 129 million shares worth 1.31 billion yuan this year, reflecting management confidence in their companies' value [7]. ETF Size and Fees - The A-share financial-themed ETFs tracking various indices have seen significant growth, with the largest being the Guotai Junan Securities ETF and the Huabao Securities ETF, with sizes of 29.847 billion yuan and 22.983 billion yuan, respectively [8]. - The E Fund Hong Kong Securities ETF has also experienced rapid growth, reaching a size of 7.897 billion yuan, with competitive management and custody fees of 0.15% and 0.05% [9][10].

中国证券业协会拟于近期组织开展2025年 证券公司支持上市公司 并购重组能力专项评价工作，供分类 监管工作使用。据悉，评价指标包括并购重组业务的案例示范性、业务规模和资源投入情况三个方面， 评价范围涵盖2024年1月1日至12月31日重组方案已实施完毕的项目，包括沪深北上市公司重大 资产重 组项目和上市公司收购项目。各券商需在2025年6月18日前报送相关数据。 (中证金牛座) ...

Core Viewpoint - The surge in the securities sector is driven by favorable policies and merger expectations, with significant capital inflow into the A-share market and notable stock price increases among major brokerage firms [1][4][7]. Group 1: Market Performance - Over 2.4 billion in main capital flowed into the securities sector, leading to substantial gains in individual stocks, including a limit-up for Industrial Securities and over 8% increase for Xinda Securities [1]. - In the Hong Kong market, major brokerage stocks also saw significant increases, with Guangfa Securities rising by 6.5% and Huatai Securities by 5% [3]. Group 2: Policy Impact - The recent policy released on June 10 allows companies listed on the Hong Kong Stock Exchange to also list on the Shenzhen Stock Exchange, which is expected to expand the investment banking business for brokerages [4][6]. - This policy is anticipated to enhance market connectivity and trading activity, directly benefiting brokerage businesses [6]. Group 3: Mergers and Acquisitions - The market is optimistic about mergers and acquisitions due to the recent change in control of several brokerages to Central Huijin, which is expected to reduce integration barriers among brokerages [7]. - The trend of mergers is likely to create significant synergies, further driving stock prices upward [7]. Group 4: Stock Buybacks - Several brokerages have announced stock buybacks, signaling confidence in their long-term development and enhancing shareholder returns [8][9]. - The buybacks are seen as a positive signal for the sector's investment attractiveness [9]. Group 5: Valuation and Investment Opportunities - The current valuation of the brokerage sector is considered attractive, with a price-to-book ratio (PB) around 1.33x, indicating potential for investment [10]. - Analysts suggest that the sector's profitability and valuation are expected to rise, driven by improved market conditions and strategic business expansions [11].

Core Viewpoint - The securities sector is experiencing a strong upward trend, with significant increases in stock prices and ongoing share buyback programs indicating confidence in the long-term prospects of the capital market [1][2]. Group 1: Market Performance - As of June 11, 2025, the CSI Securities Company 30 Index rose by 2.36%, with notable increases in individual stocks such as Industrial Securities (up 9.97%) and Xinda Securities (up 9.24%) [1]. - The Securities Company ETF (516730) increased by 2.39%, with a latest price of 0.99 yuan, and has seen a cumulative increase of 1.58% over the past week [1]. - The ETF had a turnover rate of 5.86% during the trading session, with a total transaction value of 4.34 million yuan, and an average daily transaction value of 9.25 million yuan over the past year [1]. Group 2: Buyback Programs - Securities firms are actively disclosing their share buyback plans, with Guojin Securities reporting a total buyback amount exceeding 55 million yuan [1]. - Other firms such as Guotai Junan and Dongfang Securities have also announced their buyback progress, reflecting a strategic decision based on confidence in the capital market's long-term outlook [1]. Group 3: Earnings Outlook - According to Kaiyuan Securities, the mid-year earnings report for securities firms is expected to show continued growth due to low baselines and improving trading volumes [2]. - The current valuation of the Securities Company ETF, tracking the CSI Securities Company 30 Index, is at a low PE-TTM of 17.52, indicating it is below 91.13% of the time over the past year [2]. - The CSI Securities Company 30 Index includes top-performing securities firms based on business ranking, market capitalization, revenue, and profitability, with the top ten stocks accounting for 67.69% of the index [2].

东吴证券表示，"汇金系"券商的股权调整有望推动证券行业新一轮并购，可关注证券行业同一实控人下 行政化并购与市场化并购主线，重点关注以下两方面：一是同属同一实控人的证券机构；二是后续市场 化并购可能性较高的证券公司。因此，接下来券商互金板块值得期待。 民生证券称，年初以来政策定调积极，降准降息有望呵护流动性，中长期资金持续入市提振市场信心， 2025年市场交投热度或持续高位，主要股票与债券指数有望延续向好趋势，业绩修复与并购重组或仍是 行业主线。建议关注业绩修复阶段在多业务条线具备龙头优势的优质券商标的。 消息上，中央汇金新晋多家券商实控人，市场并购预期再起。6月6日，证监会核准中央汇金投资有限责 任公司成为长城国瑞证券有限公司、东兴证券股份有限公司、信达证券股份有限公司、东兴基金管理有 限公司、信达澳亚基金管理有限公司、长城期货股份有限公司、东兴期货有限责任公司、信达期货有限 公司实际控制人。 对此，中航证券认为，目前监管明确鼓励行业内整合，在政策推动证券行业高质量发展的趋势下，并购 重组是券商实现外延式发展的有效手段，券商并购重组对提升行业整体竞争力、优化资源配置以及促进 市场健康发展具有积极作用，同时行业 ...

Group 1 - The core viewpoint of the articles indicates a strong rebound in the stock market, particularly in the securities sector, with the Shanghai Composite Index rising nearly 1% and surpassing 3400 points [1] - The CSI Securities Company Index (399975) experienced a robust increase of 2.98%, with notable individual stocks such as Xinda Securities hitting the daily limit, and others like Industrial Securities and Dongxing Securities rising by 8.78% and 6.20% respectively [1] - The trading volume in the market has remained above 1 trillion for 33 consecutive trading days, recently exceeding 1.45 trillion, indicating active trading that is expected to stimulate the performance of brokerage firms [2] Group 2 - Several brokerage firms, including Guotai Junan, Dongfang Securities, and Guojin Securities, have announced ongoing share repurchase plans, reflecting confidence in the long-term prospects of the capital market [3] - Analysts from Zhonghang Securities suggest that the attractiveness of the brokerage sector is likely to increase with the implementation of repurchase plans and optimized dividend policies, which will help restore market confidence [4] - Minsheng Securities anticipates that the market's trading heat will remain high in 2025, driven by positive policy signals and sustained inflows of medium to long-term capital, with a focus on performance recovery and mergers and acquisitions as key industry themes [4]