Core Viewpoint - The company, Xinyi Securities, is experiencing a decline in stock price but is actively enhancing its service offerings and expanding its client base in the context of a recovering securities market driven by policy support and improved liquidity [1][2]. Group 1: Company Performance - As of September 19, 2025, Xinyi Securities' stock closed at 6.32 yuan, down 2.02% from the previous week, with a total market capitalization of 54.579 billion yuan, ranking 19th in the securities sector [1]. - In the first half of 2025, the total trading volume of stock and fund transactions reached 4.84 trillion yuan, with net income from securities trading activities amounting to 1.028 billion yuan [3]. Group 2: Client Services and Strategy - The company is focusing on customer-centric strategies, enhancing digital financial tools, and expanding its private user base, with significant growth in its retail client segment [1]. - The company aims to improve its financial product offerings and services, particularly for high-net-worth clients, and is committed to a transformation towards a buyer-oriented service model [1][2]. Group 3: Fund Management - Xinyi Global Fund, a subsidiary, reported a public fund scale exceeding 700 billion yuan, reaching 703.377 billion yuan, an 8% increase from the previous year [2][3]. - The fund management strategy includes a focus on high-quality development, active management, and the introduction of innovative products, particularly in the context of pension finance [2]. Group 4: Corporate Announcements - Xinyi International has provided guarantees totaling 250 million USD for its subsidiary, CISI Investment Limited, to support its operations in international derivatives and bond repurchase transactions [4]. - The total external guarantees provided by the company and its subsidiaries amount to 23.283 billion yuan, representing 40.27% of the latest audited net assets, with no overdue guarantees reported [4].