中国证券业协会数据显示，截至6月24日，其官网公示的保荐代表人数量为8481人，较2024年底登 记的8799人减少318人。这是三年来保代人数首次出现下降。笔者认为，保代人数缩减或预示着券商保 荐行业生态将发生改变，打造"精品投行"可能成为券商投行业务发展的根本方向。 从历年数据来看，2021年至2023年，中证协登记的保代人数分别为7393人、7834人和8632人，2022 年、2023年同比分别增加441人和798人。虽然2025年上半年减少的保代人数较此前两年增幅不算显著， 但半年内减少超300人的规模仍不容忽视。 作为资本市场的重要中介机构，保荐机构在新股发行、上市公司再融资等方面发挥着关键作用。而 保荐代表人作为具体从业人员，其重要性更是不言而喻。从某种意义上说，券商保荐项目的质量高低、 成功与否，与保代的专业胜任能力及勤勉尽责程度密切相关。 今年上半年保代人数出现缩减，原因是多方面的。首先，IPO市场持续低迷。数据显示，2021年至 2024年，IPO数量分别为524家、428家、313家和100家，2025年上半年新股发行同样未见起色。由于市 场整体行情不佳，上市公司再融资也受到波及。部分券 ...

Group 1 - The core viewpoint of the article highlights that the 42 listed securities firms achieved a total operating income of 508.847 billion yuan in 2024, representing a year-on-year growth of 7.32%, and a net profit attributable to shareholders of 147.835 billion yuan, which is a 15.88% increase compared to 2023 [1][2][3] Group 2 - In 2024, the investment banking business of the listed securities firms generated a net income of 30.608 billion yuan, a decline of 27.40% from 42.158 billion yuan in 2023, indicating a widespread downturn in the industry [3][4] - Only 6 out of the 42 listed securities firms, accounting for 14.29%, reported positive growth in their investment banking revenues, while most firms experienced significant declines [3][4] - The investment banking revenue constituted a small portion of the overall income for most firms, with only a few firms like CICC, CITIC Securities, and others exceeding 10% of their total operating income from investment banking [3][4] Group 3 - Smaller regional securities firms have shown resilience in their investment banking performance despite the competitive and declining market, often focusing on niche areas or specific regions [4][5] - Notable examples include Shouchao Securities, which achieved significant growth in asset-backed securities (ABS) issuance, and First Capital Securities, which focused on IPOs in the Beijing Stock Exchange [4][5] - Firms like Caida Securities have excelled in bond issuance, ranking close to the top 20 in the industry, with a more than fourfold increase in asset securitization business [4][5] Group 4 - Listed securities firms are increasingly emphasizing their role in supporting the real economy, with firms like Nanjing Securities and First Capital Securities focusing on providing comprehensive financial services tailored to key industries [5][6] - Caida Securities has also targeted the "new quality productivity" development needs, supporting regional economic growth through various bond issuances and mergers and acquisitions [5][6]

来源｜中国基金报 记者｜莫琳 时隔一年，中天国富证券总经理再度换人。 近日，中天国富证券在其官网上悄然更新了管理层名单。官网显示，去年1月官宣任职的中天国富证券总经理赵丽峰已离任，原副总经理杨安西正式接任了 总经理职务。 | zir 中大国富证券 中天包眼 Z T F S E C U R I T I | | 首页 | 业务介绍 | 资讯中心 | 投资者教育 | 关于中天国富 | | 网上营业厅 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 杨安西 总经理 | | | | | | | | | | 武汉大学经济学硕士。历任湖北证监局稽查二处处长、信息调研处处长;三环集团副总裁。 | | | | | | | | | | 副总经理兼董事会秘书 张满乐 赵银丽 | | | | | 副总经理兼合规总监、首席风险官 | | | | | 李立 副总经理 刘力 | | | | | | 首席信息官 | | 官网显示，杨安西，武汉大学经济学硕士，历任湖北证监局稽查二处处长、信息调研处处长，三环集团副总裁。 杨安西第一次出现在公众视野，是在2021年9月的 ...