本期债券兑付日为2025年9月22日，摘牌日为2025年9月22日，申万宏源证券有限公司已按照《申万宏源 证券有限公司2023年面向专业投资者公开发行公司债券(第四期)募集说明书》相关约定，完成本期债券 本息兑付并予以摘牌。 申万宏源（000166）(06806)发布公告，公司所属子公司申万宏源证券（000562）有限公司于2023年9月 21日发行申万宏源证券有限公司2023年面向专业投资者公开发行公司债券(第四期)(品种一)，发行规模 人民币28亿元，票面利率2.80%，期限2年，债券代码148467，债券简称23申证07。 ...

本期债券兑付日为2025年9月22日，摘牌日为2025年9月22日，申万宏源证券有限公司已按照《申万宏源 证券有限公司2023年面向专业投资者公开发行公司债券(第四期)募集说明书》相关约定，完成本期债券 本息兑付并予以摘牌。 智通财经APP讯，申万宏源(06806)发布公告，公司所属子公司申万宏源证券有限公司于2023年9月21日 发行申万宏源证券有限公司2023年面向专业投资者公开发行公司债券(第四期)(品种一)，发行规模人民 币28亿元，票面利率2.80%，期限2年，债券代码148467，债券简称23申证07。 ...

本期债券兑付日为2025年9月22日，摘牌日为2025年9月22日，申万宏源证券有限公司已按照《申万宏源 证券有限公司2023年面向专业投资者公开发行公司债券(第四期)募集说明书》相关约定，完成本期债券 本息兑付并予以摘牌。 格隆汇9月24日丨申万宏源(06806.HK)公告，公司所属子公司申万宏源证券有限公司于2023年9月21日发 行申万宏源证券有限公司2023年面向专业投资者公开发行公司债券(第四期)(品种一)(以下简称"本期债 券")，发行规模人民币28亿元，票面利率2.80%，期限2年，债券代码148467，债券简称"23申证07"。 ...

Core Viewpoint - The share transfer agreement between Hongta Securities and Yuntou Group has been terminated after two years of planning, with no substantial transfer having occurred, thus not affecting the company's control or financial status [2][6]. Group 1: Share Transfer Termination - Yuntou Group, a major shareholder of Hongta Securities, decided to terminate the share transfer agreement with Yuntou Capital on September 23, 2025, after mutual agreement [2]. - The termination of the agreement does not impact the company's control, governance structure, or daily operations, nor does it adversely affect its financial performance [6]. - Yuntou Group had planned to transfer 817 million shares (17.33% of total shares) to its subsidiary Yuntou Capital as part of an internal asset adjustment strategy [7]. Group 2: Management Changes - On September 22, 2023, Hongta Securities announced an open recruitment for four senior management positions, indicating a significant management reshuffle [8]. - The recruitment includes positions for Vice President, Chief Information Officer (CIO), and Board Secretary, with specific experience and age requirements [8]. - Despite recent appointments in June 2023, the new recruitment suggests further changes in the management team [9]. Group 3: Financial Performance - In 2024, Hongta Securities reported a revenue of 2.022 billion yuan, a year-on-year increase of 68.36%, and a net profit of 764 million yuan, up 144.66% [9]. - For the first half of 2025, the company achieved a revenue of 1.189 billion yuan, reflecting a 15.69% year-on-year growth, with a net profit of 671 million yuan, a 49.25% increase [10]. - The company's main business relies heavily on proprietary trading, while asset management and investment banking sectors have shown a declining trend [10].

证券研究报告 | 宏观深度 分析师：罗志恒 执业编号：S0300520110001 电话：010-83755580 邮箱：luozhiheng@ykzq.com 分析师：原野 执业编号：S0300523070001 电话：15810120201 邮箱：yuanye_zb@ykzq.com 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 近期报告 《【粤开宏观】迈向中等发达国家："十四 五"经济回顾与"十五五"经济增长目标 测算》2025-09-21 《【粤开宏观】大国财政的担当："十四 五"时期我国财政治理成效回顾》2025- 09-18 《【粤开宏观】美联储重启降息周期：回 顾、展望及影响》2025-09-18 《【粤开宏观】如何看待当前经济？如何 理解股市与经济的背离？》2025-09-15 《【粤开宏观】本轮反内卷与供给侧改革 有何不同》2025-08-31 2025 年 09 月 24 日 宏观研究 【粤开宏观】牛市的成因是什么？牛 市还能否延续？ 导读： 2025 年以来，以中国科技叙事反转为起点，A 股开启了一波强劲的牛市行 情。进入 9 ...

Core Viewpoint - The 2025 Fortune Global 500 Summit will open on September 25 in Guangzhou, focusing on the theme "Standing at the Starting Point of a New Cycle: Discovering, Embracing, and Reshaping" [4]. Group 1: Summit Agenda and Themes - The summit will feature discussions among business leaders and experts on the complex global political and economic landscape, and how companies can navigate challenges in a new cycle [4]. - Key topics include economic trends, the automotive industry's competitive landscape, brand internationalization, and the operational principles of Fortune 500 companies [4][5]. - Formats for discussions will include one-on-one interviews, roundtable discussions, and strategic workshops [4]. Group 2: Key Discussion Topics - The summit will address the following specific themes: - Economic trends and forecasts [5]. - Transitioning to a greener and smarter future [5]. - The final competition in the automotive industry [5]. - The soft power of large companies and their international branding strategies [5]. - The operational rules for Fortune 500 companies in the current environment [5]. - Understanding and catering to Generation Z and Alpha consumers [5]. - Adapting to changes in globalization and the strategies for global companies [5]. - Trends and future outlooks for the financial industry [5]. - The interplay of energy transition, climate action, and geopolitical relationships [5]. - Innovations in technology and health [5]. Group 3: Expert Participation - The summit will feature prominent speakers from various industries, including executives from IBM, Amazon, and Huawei, among others [9][11][13][15][17][19][21][24][26][28][30][32][34][37][39][41][43][45][47][49][51][53][55][57][59][61][63][65][67][69][70][72][74][76][78][80][82][84][86][89][91][93][95][97].

（编辑 任世碧） 证券日报网讯 9月24日晚间，华西证券发布公告称，持有公司股份178，329，599股（占公司总股本比 例6.79%）的股东四川剑南春（集团）有限责任公司计划自本公告披露之日起15个交易日后的3个月内 以集中竞价方式、大宗交易方式合计减持不超过26，250，000股的公司股份，即减持股份不超过公司总 股本的1%。其中：通过集中竞价方式减持本公司股份不超过13，125，000股，即减持股份不超过公司 总股本的0.5%；通过大宗交易方式减持本公司股份不超过13，125，000股，即减持股份不超过公司总 股本的0.5%。 ...

Core Viewpoint - Yunnan Yun Investment Group has decided to terminate the share transfer agreement with Yun Investment Capital, which was planned for two years, without any substantial transfer occurring [1][3]. Group 1: Share Transfer Agreement - The decision to terminate the agreement was reached through mutual consultation and has not undergone review by the China Securities Regulatory Commission, nor has the transfer been completed [3]. - The termination of the share transfer will not affect the company's control, governance structure, or daily operations, nor will it have a negative impact on the company's operating performance and financial status [3]. - Yun Investment Group, as the largest state-owned capital investment company in Yunnan Province, plays a crucial role in key project construction and holds significant stakes in various important enterprises [4]. Group 2: Management Changes - Red Tower Securities announced a public recruitment for four senior management positions, indicating a significant management overhaul [5][6]. - The recruitment includes positions for Vice President, Chief Information Officer (CIO), and Board Secretary, with specific qualifications required for each role [6]. - The company has shown strong financial performance, with a revenue of 2.022 billion yuan in 2024, a year-on-year increase of 68.36%, and a net profit of 764 million yuan, up 144.66% [8].

↑点击上面图片 加雪球核心交流群 ↑ 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 内容综合自： 摩根资产管理ETF 来源：雪球 相信很多人还记得，去年"924行情"的波澜壮阔，wind数据显示，"924行情"至今，AH整体仍有亮眼表现。"924行情"一周年之际，看看A 股"924行情"以来有何变化，当下行情又到哪儿了？ 01 表现亮眼！"924行情"以来AH涨超全球主要指数 去年"924行情"以来，AH主要指数表现可以说是领涨全球主要市场指数。 "924行情"以来全球主要指数表现（%） 数据来源：wind，数据区间2024.9.24-2025.9.22 A股成交额再超3万亿元！但仍低于924行情峰值 Wind数据显示，9月18日 A股单日成交额再超3万亿元，单日成交额位列A股历史第4。 924以来A股成交额及区间换手 指数的过往表现并不预示其未来表现，也不构成对指数基金业绩表现的保证。 02 24157亿元！两融余额创2015年来新高 Wind数据显示，9月22日，作为市场情绪指标之一的两融余额创2015年来新高，达到24157亿元！ 两融余额占A股流通市值看，9月2 ...

佳鑫国际资源(03858)发布公告，全球发售的稳定价格期间已于2025年9月24日即递交香港公开发售申请 截止日期后第30天)结束。有关中国国际金融香港证券有限公司(稳定价格经办人)、其联属人士或代其行 事的任何人士于稳定价格期间进行的稳定价格行动载列如下： (1)于国际发售中超额分配合共1647.12万股股份，占根据全球发售初步可供认购的发售股份总数约15% (于任何超额配股权获行使前)，该等股份由中国国际金融香港证券有限公司(稳定价格经办人)或其联属 人士根据借股协议借入的1647.12万股股份弥补; (2)独家代表(为其本身及代表其他国际包销商)于2025年8月28日悉数行使超额配股权，涉及每股股份 10.92港元的合共1647.12万股股份，用于向恒兆归还中国国际金融香港证券有限公司(稳定价格经办人) 或其联属人士根据借股协议借入的1647.12万股股份。 在稳定价格期间，稳定价格经办人并无在市场上买卖任何股份以稳定价格。 ...