来源：上海证券报·中国证券网 上证报中国证券网讯（记者 何漪）12月3日，第二十五届中国股权投资年度大会正式召开。会上，毅达 资本董事长应文禄表示，回顾2025年，在全球供应链、创新链与资本链加速重构的大背景下，一级市场 投资逐步活跃，二级市场迎来科技引领的结构性行情，科技资产价值得到重估；同时，支持科技创新的 资金愈发充沛，首批民营创投科创债成功落地，为产业创新注入了强劲的金融活水。 如何判断优秀企业？应文禄进一步谈到，必须坚持企业家画像，研究企业家是否完成了从"技术偏科 生"到"全面领航者"的蜕变，是否具备全球化格局、精细化管理能力及强大的供应链整合能力。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 何漪）12月3日，第二十五届中国股权投资年度大会正式召开。会上，毅达 资本董事长应文禄表示，回顾2025年，在全球供应链、创新链与资本链加速重构的大背景下，一级市场 投资逐步活跃，二级市场迎来科技引领的结构性行情，科技资产价值得到重估；同时，支持科技创新的 资金愈发充沛，首批民营创投科创债成功落地，为产业创新注入了强劲的金融活水。 如何判断优秀企业？应文禄进一步谈到，必须坚持企业家画像，研究企业家 ...

Core Viewpoint - The company acknowledges that its stock price fluctuations are influenced by multiple factors, including macroeconomic conditions, industry development, and secondary market trends [2] Group 1 - The company is committed to continuously improving its operational performance [2] - The company aims to enhance its corporate value [2] - The company strives to deliver excellent performance to reward its investors [2]

Core Insights - 中金公司 reported a significant increase in revenue and net profit for the first three quarters of 2025, with revenue reaching 20.76 billion and net profit at 6.57 billion, reflecting year-on-year growth of 54.36% and 129.75% respectively [1][2] Group 1: Financial Performance - The company's weighted average return on equity was 6.29%, an increase of 3.65 percentage points year-on-year [1] - The growth in revenue was primarily driven by an increase in net income from fees and commissions, as well as gains from financial instruments measured at fair value [1] - Investment banking fees reached 2.94 billion, marking a year-on-year increase of 42.55% [1] Group 2: Business Segments - In the brokerage and investment sectors, the company benefited from favorable secondary market conditions, with brokerage fee income at 4.52 billion, up 76.31% year-on-year [2] - The proprietary trading income for the first three quarters was 10.97 billion, reflecting a year-on-year growth of 46.99% [2] - Asset management business also performed well, with fee income of 1.06 billion, a year-on-year increase of 26.61% [2] Group 3: Shareholder Composition - Notable shareholders include the Brunei Investment Agency and Allianz Insurance Asset Management, with Brunei holding 10.32 million shares (0.21% stake) and Allianz holding 9.58 million shares (0.2% stake) [2]