江西首家上市券商诞生。 10月26日晚间，国盛金控（002670.SZ）公告称，已完成变更公司名称、注册地址、经营范围 的变更登记手续与修订公司章程的备案手续，并取得南昌市市场监督管理局核准换发的《营业 执照》，业务结构更趋聚焦证券主业。 其中， 中文名称由"国盛金融控股集团股份有限公司"变更为"国盛证券股份有限公司"。 后 续，国盛金控将向深交所申请变更A股证券简称。 同时，国盛金控董事会已选举刘朝东为新一任董事长，同时选举李璞玉、罗新宇、廖志花、张 璟、罗希为非独立董事，程迈、周江昊、袁业虎、罗忠洲为第五届独立董事。 管理层方面，董事会同意聘任赵景亮为公司总经理，张昌生为副总经理兼财务负责人，董东、 朱宇为副总经理，唐文峰为合规总监、首席风险官，刘公银为董事会秘书，陆修然为首席信息 官。 公开信息显示，刘朝东为此前国盛金控的董事长，而赵景亮此前为财达证券副总，通过公开招 聘被确定为总经理。 当日，国盛金控还披露了三季报。前三季度实现营收18.56亿元，同比增46.84%；归母净利润 2.42亿元，同比增191.21%。其中，第三季度营业收入7.20亿元，同比增长78.17%；归母净利 润0.33亿元，同比 ...

Core Viewpoint - Shouchuang Securities has officially initiated its "A+H" dual listing process, with a market capitalization of 60 billion RMB as of October 17, 2025, and is ranked fifth in revenue growth and tenth in net profit growth among 42 A-share listed securities companies in China from 2022 to 2024 [2][3]. Group 1: Company Overview - Shouchuang Securities, established in 2000, is controlled by the Beijing State-owned Assets Supervision and Administration Commission [2]. - As of October 17, 2025, the company's market capitalization reached 60 billion RMB [2]. - The company ranks first in average total asset return and seventh in net asset return among A-share listed securities companies for 2024 [2]. Group 2: Financial Performance - For the fiscal years 2022, 2023, 2024, and the first half of 2025, Shouchuang Securities reported operating revenues of 2.519 billion, 2.970 billion, 3.588 billion, and 1.845 billion RMB, respectively [3]. - The corresponding net profits for the same periods were 554.936 million, 701.099 million, 985.147 million, and 490.182 million RMB [3]. - Investment income and gains for the first half of 2025 increased by 50.8% year-on-year, amounting to 873 million RMB [4]. Group 3: Shareholding Structure - Prior to the listing, Shouchuang Group, a subsidiary of the Beijing State-owned Assets Supervision and Administration Commission, held 56.77% of Shouchuang Securities, making it the controlling shareholder [7]. - Following a recent equity transfer, Shouchuang Group's stake was reduced to 53.20%, while Beijing Infrastructure Investment Co., the second-largest shareholder, increased its stake to 20.87% [8].

Core Viewpoint - The IPO application of Kaiyuan Securities has been terminated due to the withdrawal by its sponsor, Guolian Minsheng, indicating significant compliance and regulatory challenges faced by the company in its pursuit of public listing [1][2][8]. Group 1: IPO Status and Background - Kaiyuan Securities' IPO journey began in June 2022, with the company aiming to raise 4 billion yuan for various business enhancements [3]. - The company faced a series of regulatory hurdles, including a six-month suspension of its bond underwriting business due to compliance violations, which has impacted its operational performance [13][15]. - The termination of the IPO review marks the end of a three-year effort for the company to go public, highlighting the shift in the market focus from scale to quality for securities firms [2][17]. Group 2: Reasons for Withdrawal - The withdrawal of the IPO application may be linked to the need for Kaiyuan Securities to change its accounting firm, as regulations limit the tenure of the same auditor for state-owned enterprises to eight years [10][12]. - Industry insiders suggest that merely changing the sponsor would not typically lead to an IPO termination unless there are other significant issues, such as financial internal control deficiencies or inaccurate disclosures [2][10]. - The company has previously faced compliance issues, which may have contributed to the decision to withdraw the IPO application [2][13]. Group 3: Financial Performance and Market Position - In 2024, Kaiyuan Securities reported a revenue decline of 6.61% to 2.859 billion yuan, while its profit increased by 13.71% to 834 million yuan, indicating a mixed financial performance [15]. - The company's investment banking revenue significantly dropped by nearly 46% in 2024, reflecting challenges in its core business [16]. - Kaiyuan Securities is primarily controlled by Shaanxi Coal and Chemical Industry Group, with a shareholder structure heavily influenced by state-owned enterprises, which presents both regional advantages and competitive pressures [9]. Group 4: Future Outlook and Recommendations - Experts suggest that securities firms should focus on compliance, business transformation, and technological advancement to navigate the current regulatory landscape effectively [17][18]. - The market is expected to see a differentiation among securities firms, with those lacking compliance facing stricter scrutiny, while those with unique business models may find opportunities for growth [17][18].