| will history of the | | 10. HTT 1/5 = 1/1 | | --- | --- | --- | | 心 被共コスモ世界 - LEE (14 13) 11 11 11 11 11 11 | | 日落平 | | 148.32-33 | | 45680.25 | | 1.665 | | +584.42 | | +0.491 +0.025 | | | | 编 6:55 9:42 | 1.650 | 14791 @ 9:00 45193.// | | 148.37 雷 9:42 高 12:00 | 1.650 | 雷 13:03 45757.74 | | 安 13:49 安 7:02 | 1.665 | 147.87 @ 9:00 45193.77 | | 2 2 2 8 中文网 | | | 受到长期利率上涨的影响，日本的银行股明显上涨（9月22日，东京都中央区） 日本央行9与19日发表了出售ETF的方针，不过由于出售速度缓慢，有分析认为这对市场的 影响轻微。有观点认为，"脱离对央行的依赖"反而有可能促进日本企业的公司治理改革，日 经平均股指22日再次创出新高…… 即使日本银行（央行 ...

9月23日早盘，市场整体震荡调整，沪指失守3800点。券商随市回调，板块个股除湘财股份外全线飘 绿，300亿顶流券商ETF（512000）场内价格跌逾2%，实时成交额超10亿元，逼近前一日全天成交额。 开源证券表示，市场活跃度仍在较高水平，低利率环境下机构和居民资金入市趋势有望延续，三季度交 易活跃度和两融规模提升明显，叠加低基数效应，券商三季报业绩同比增速有望进一步扩大。 数据显示，年内至9月22日，券商ETF（512000）跟踪的中证全指证券公司指数累计上涨4.59%，与31个 申万一级行业相比涨幅仅排名25/32，处于行业中后位置，叠加券商板块高景气持续，后续补涨空间或 值得关注。 | 399975.SZ 25 | 证券公司 | 4.5963 | | --- | --- | --- | | 26 801720.SI | 建筑装饰(申万) | 4.4583 | | 27 801780.SI | 银行(申万) | 2.2227 | 券商ETF（512000）最新规模超340亿元，续刷历史新高，年内日均成交额达9.57亿元，为A股规模、流 动性居前的顶流券商ETF。 有行情，买券商！公开资料显示，券商ETF（ ...

2025.09. 23 本文字数：1901，阅读时长大约3分钟 作者 | 第一财经 周楠 "执法震慑进一步增强，透明度进一步提高，市场生态进一步净化。"在9月22日的国新办新闻发布会 上，证监会主席吴清表示，"十四五"期间，证监会对财务造假、操纵市场、内幕交易等案件作出行政 处罚2214份，罚没414亿元，较"十三五"分别增长58%和30%。 若将视线聚焦，除了近年来不断增长的罚单规模，资本市场的投资生态自去年"924"行情以来，还发 生了一些新的变化。 回看过去一年，一系列政策"组合拳"及配套措施在资本市场渐次落地。其中，从严打击财务造假等违 法违规行为成为净化市场生态、重塑投资者信心的关键着力点之一，触及重大违法强制退市数量明显 增加，"退市不免责"的信号得以强化。 第一财经记者获得的最新数据显示，2025年实质触及重大违法退市指标的公司已达12家，为历年之 最。 中国政法大学商学院副教授胡历芳对第一财经表示，近一年来监管从严打击证券违法违规行为，为稳 定投资人预期起到了关键作用，从而能够更好地为长期投资、价值投资、理性投资保驾护航，为资本 市场发挥财富效应奠定法治化基础。 重大违法强制退市明显增加 回到 ...

Group 1: Pharmaceutical and Medical Device Sector - The pharmaceutical and medical device sector experienced an overall decline of 2.07% from September 15 to September 19, 2025, ranking 23rd among 31 industries, underperforming the CSI 300 index by 1.63 percentage points. Year-to-date, the sector has risen by 24.17%, ranking 10th among 31 industries and outperforming the CSI 300 index by 9.76 percentage points. The current PE valuation for the sector is 31.18 times, at the historical median level, with a 136% premium over the CSI 300 valuation [5][6][7]. - The National Medical Insurance Administration has completed the review of the 2025 National Basic Medical Insurance Directory and the commercial insurance innovative drug directory, moving into the core negotiation and price consultation phase. The 11th batch of national procurement has officially included 55 major varieties, with optimizations in application requirements, volume, and rules, indicating a potential turning point for the industry [6][7]. - The Shanghai government has issued a comprehensive action plan to promote the high-end medical device industry, focusing on innovation, clinical empowerment, regulatory approval, market application, enterprise cultivation, and international development, with 20 key tasks outlined to support industry growth [6][7]. Group 2: Non-Bank Financial Sector - The non-bank financial index fell by 3.7% last week, underperforming the CSI 300 index by 3.3 percentage points, with both brokerage and insurance indices showing synchronized declines of -3.5% and -4.8%, respectively. The average daily trading volume for stock funds was 29,885 billion yuan, an 8% increase from the previous week [9][10]. - Market enthusiasm and activity remain high, with a focus on the performance catalysts from the upcoming third-quarter reports. The average daily trading volume for stock funds has increased by 108% year-on-year as of September 19, 2025, positively impacting brokerage, credit, and proprietary trading sectors [10][12]. - The establishment of a health management company by PICC and the continued increase of holdings in China Pacific Insurance by Ping An Life indicate a trend towards integrating health management with health insurance, enhancing operational efficiency and profitability [11][12]. Group 3: Economic and Market Overview - The LPR for both the 5-year and 1-year terms remained unchanged at 3.5% and 3%, respectively, as of September 2025, indicating stable lending rates [14]. - The steel industry has set a target for an average annual growth of 4% over the next two years, with a strict prohibition on new capacity additions, reflecting a focus on structural adjustment and high-quality development [16]. - The A-share market showed mixed performance, with the Shanghai Composite Index closing at 3,828 points, up 0.22%, while the Shenzhen Component and ChiNext indices also saw gains, indicating a cautious recovery amid ongoing market volatility [17][18].

01 大幕开启：800位精英齐聚，绘就产业发展新蓝图 2025年9月21日，上海国际会议中心星光熠熠，800位产业与资本领域顶尖人士齐聚一堂。这场以"未来产业与国有资本赋能上市公司"为主题的盛会，不仅是 思想碰撞的平台，更是资源对接的桥梁，见证了国有资本与前沿科技赋能上市公司的新模式落地。 本届论坛是由上海市投资促进服务中心、长三角资本市场服务基地、中国（上海）自由贸易试验区管委会陆家嘴管理局共同指导；中国科技发展基金会、上 海天使会、上海市国资国企改革发展研究中心等单位主办；财中网等单位承办；并由广发证券、东北证券、申万宏源证券、国联民生证券、天风证券协办； 上海市浦东新区投资促进服务中心、上海陆家嘴金融城发展基金会、中国邮政储蓄银行上海虹口支行等单位支持。 论坛核心目标直指贯彻国家创新驱动发展战略，响应证监会"强化科技创新引领，促进上市公司质量全面提升"的要求，聚焦科技与产业融合、国资投资机构 赋能，为上市公司探索产业升级、创新发展及治理提升的新路径。 金秋九月，黄浦江畔的上海国际会议中心迎来第三届中国上市公司产业发展论坛。9月21日上午9时，论坛准时启幕，重量级领导致辞为盛会定调——上海市 人民政府副秘 ...

Core Viewpoint - China Galaxy Securities experienced a decline in stock price, with a 2.00% drop to 16.66 CNY per share as of September 23, 2023, amidst significant capital outflows and a mixed performance in recent trading periods [1]. Financial Performance - For the first half of 2025, China Galaxy reported a net profit of 6.488 billion CNY, marking a year-on-year increase of 47.86% [2]. - The company has distributed a total of 18.494 billion CNY in dividends since its A-share listing, with 7.799 billion CNY distributed over the past three years [3]. Shareholder and Market Activity - As of June 30, 2025, the number of shareholders decreased by 23.16% to 136,200, while the average number of circulating shares per person increased by 30.53% to 53,536 shares [2]. - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 64.7687 million shares, and several ETFs that have shown varying changes in their shareholdings [3]. Stock Performance - Year-to-date, China Galaxy's stock price has increased by 10.82%, but it has seen declines of 3.48% over the last five trading days, 10.62% over the last 20 days, and 1.27% over the last 60 days [1].

Company Overview - China International Capital Corporation (CICC) is located in Beijing and was established on July 31, 1995, with its listing date on November 2, 2020 [2] - The company primarily engages in investment banking, equity sales and trading, fixed income, commodities and currency, wealth management, and investment management [2] - CICC operates through six main divisions: investment banking, equity sales and trading, fixed income, wealth management, investment management, and other support services [2] - The revenue composition is as follows: wealth management 32.73%, equity business 20.81%, fixed income 17.37%, investment banking 12.11%, others 8.25%, asset management 5.14%, and private equity 3.60% [2] Financial Performance - As of June 30, CICC reported a net profit of 4.33 billion yuan, representing a year-on-year growth of 94.35% [3] - The company had a total of 124,000 shareholders, a decrease of 11.17% from the previous period, with an average of 23,649 circulating shares per shareholder, an increase of 12.62% [3] Market Activity - On September 23, CICC's stock price fell by 2.02%, trading at 35.43 yuan per share, with a total transaction volume of 318 million yuan and a turnover rate of 0.30% [1] - The company's market capitalization stood at 171.03 billion yuan [1] - Year-to-date, CICC's stock price has increased by 5.45%, but it has decreased by 3.93% over the last five trading days and by 8.35% over the last 20 days [1] Shareholder Information - CICC has distributed a total of 4.92 billion yuan in dividends since its A-share listing, with 2.61 billion yuan distributed over the past three years [4] - As of June 30, 2025, the largest shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in their holdings [4]

截至6月30日，国泰海通股东户数37.67万，较上期减少5.05%；人均流通股35848股，较上期增加 5.54%。2025年1月-6月，国泰海通实现营业收入0.00元；归母净利润157.37亿元，同比增长213.74%。 分红方面，国泰海通A股上市后累计派现426.36亿元。近三年，累计派现145.20亿元。 9月23日，国泰海通盘中下跌2.01%，截至10:24，报18.48元/股，成交6.93亿元，换手率0.28%，总市值 3257.83亿元。 资金流向方面，主力资金净流出3176.13万元，特大单买入6518.86万元，占比9.40%，卖出1.24亿元，占 比17.92%；大单买入1.76亿元，占比25.35%，卖出1.48亿元，占比21.42%。 国泰海通今年以来股价涨0.60%，近5个交易日跌3.60%，近20日跌13.69%，近60日跌2.69%。 资料显示，国泰海通证券股份有限公司位于上海市静安区南京西路768号,香港湾仔皇后大道东248号大 新金融中心40楼，成立日期1999年8月18日，上市日期2015年6月26日，公司主营业务涉及为客户提供证 券产品或服务,证券或股权投资等。主营业务收入 ...

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