Dan Ives, Wedbush Securities managing director and global head of technology research, says the Federal Reserve's rate cut cycle will "turbocharge" the rally in tech stocks. Speaking with Romaine Bostick on "Bloomberg The Close," Ives says tech stocks could be up another 10% between now and the end of the year. ...

证券代码：601136 证券简称：首创证券 公告编号：2025-040 首创证券股份有限公司 第二届董事会第十六次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 （二）审议通过《关于审议〈首创证券股份有限公司及下属子公司企业分类情况认定方案〉的议案》 表决情况：同意12票，反对0票，弃权0票。 首创证券股份有限公司 董 事 会 2025年9月18日 首创证券股份有限公司（以下简称公司）第二届董事会第十六次会议于2025年9月10日以书面方式发出 会议通知及会议材料，于2025年9月17日在公司总部会议室以现场结合通讯的方式召开。本次会议应出 席董事12名；实际出席董事12名，其中现场出席的董事4名，以视频方式出席的董事8名。 本次会议由公司董事长毕劲松主持，公司高级管理人员和其他相关人员列席会议。本次董事会会议的召 开和表决情况符合有关法律、行政法规、部门规章、规范性文件和《首创证券股份有限公司章程》等公 司规章制度的相关规定。 二、董事会会议审议情况 （一）审议通过《关于审议公司2025 ...

Core Insights - The national general public budget revenue for January to August reached 14,819.8 billion yuan, showing a year-on-year growth of 0.3% [1] - Tax revenue amounted to 12,108.5 billion yuan, with a slight year-on-year increase of 0.02%, while non-tax revenue was 2,711.3 billion yuan, growing by 1.5% [1] - The securities transaction stamp duty generated 118.7 billion yuan, reflecting a significant year-on-year increase of 81.7% [1] Revenue Breakdown - Central government general public budget revenue was 64,268 billion yuan, experiencing a year-on-year decline of 1.7% [1] - Local government general public budget revenue reached 83,930 billion yuan, marking a year-on-year growth of 1.8% [1]

Core Viewpoint - The leadership transition at Industrial Securities is a systematic and procedural change, providing a foundation for future strategic and operational implementation [3] Group 1: Leadership Changes - On September 12, 2025, Industrial Securities completed a change in business registration, with Yang Huahui stepping down as the legal representative and chairman, and Su Junliang taking over [1] - The company abolished its supervisory board in accordance with the new Company Law, resulting in the departure of four supervisors and the appointment of two new directors [1][2] - Su Junliang has a strong background in the banking and financial sectors, having held various leadership roles within the Industrial Bank system and recently serving as the chairman of Huafu Securities [6][7] Group 2: Financial Performance - In the first half of 2025, Industrial Securities reported operating income of 5.404 billion RMB, a year-on-year increase of 28.80%, and a net profit attributable to shareholders of 1.33 billion RMB, up 41.24% [7] - The weighted ROE was 2.31%, an increase of 0.66 percentage points compared to the previous year [7] - The brokerage business saw net income of 1.242 billion RMB, a growth of 34.21%, while interest income rose by 38.10% to 822 million RMB [7][8] Group 3: Business Segment Performance - Investment banking and asset management segments underperformed, with investment banking net income declining by 16.60% to 219 million RMB, and asset management net income down by 1.70% to 749.8 million RMB [7][8] - The company faces challenges in its investment banking business due to a slowdown in IPO issuance and tightening refinancing policies, impacting its market position [9] - Despite growth in asset management scale, net income has slightly decreased, indicating a need for improved profitability [9]

华泰证券研报称，上周A股缩量震荡后收涨，创2024年以来新高，市场关注目前资金交易活跃度水平， 我们观察到上周参与交易的投资者数量中枢回落至7月底左右水平，结构上来看交易型资金持续活跃， 配置型基金入市意愿回落，具体来看：1）融资活跃度边际上行至11.6%，创2016年以来新高，龙虎榜 买卖额绝对值仍在2025年以来高位；2）存量公募基金仓位上周有所回落，以EPFR统计的配置型外资转 向净流出。但亮点在于，主动配置型外资持续四周净流入，偏股型公募基金新发中枢份额持续回升，且 在公募费改政策优化下，投资者长期持有的意愿或有所上行。 ...

格隆汇9月16日丨国海证券(000750.SZ)公布，公司因变更注册资本、变更法定代表人事项向中国证券监 督管理委员会申请换领《经营证券期货业务许可证》。近日，公司收到了新换发的《经营证券期货业务 许可证》。 ...

Group 1 - The company, Guohai Securities, has applied to the China Securities Regulatory Commission for a new business license due to changes in registered capital and legal representative [1] - The company has recently received the newly issued "Securities and Futures Business License" [1]

Core Points - The "Financial Market" event in Beijing marks the beginning of the 2025 Financial Education Promotion Week, lasting for three days [1] - The event features two venues: a static financial education display at Financial Street Square and interactive booths at Financial Street Shopping Center, involving nearly 40 government departments and financial institutions [1] Group 1 - The Financial Street Shopping Center includes innovative thematic areas, institutional booths, video displays, and a "Financial Lunch and Night Market" [1] - The thematic area focuses on the slogan "Protect Financial Rights and Support a Better Life," with five specialized zones: Financial Literacy Zone, Financial Dispute Consultation Zone, Fraud Case Alert Zone, Financial Convenience Service Display Zone, and Inclusive Policy Promotion Zone [1] - The institutional booths represent various financial sectors, including banking, insurance, and securities, with 28 booths staffed by presenters using engaging methods like games, quizzes, and knowledge explanations to educate the public on financial literacy [1]

Group 1: Market Trends - On September 15, government bond futures closed higher across the board, with the 30-year main contract rising by 0.21% to 115.400, the 10-year main contract up by 0.12% to 107.805, the 5-year main contract increasing by 0.07% to 105.655, and the 2-year main contract gaining 0.01% to 102.376 [1] - The yields on major interbank interest rate bonds initially decreased before rising, with the 10-year China Development Bank bond yield increasing by 0.25 basis points to 1.937%, and the 10-year government bond yield rising by 0.35 basis points to 1.793% [1] Group 2: Policy Changes - The China Interbank Market Dealers Association announced the optimization of the debt financing tool mechanism for mature enterprises, reducing the issuance hanging time to one working day and extending the validity period of the first-class enterprise registration notice from two years to three years [2] Group 3: Central Bank Operations - The central bank conducted a 2800 billion yuan 7-day reverse repurchase operation on September 15, with a net injection of 885 billion yuan after accounting for 1915 billion yuan in reverse repos maturing on the same day [4] - The central bank has continued to increase the amount of buyout reverse repos for four consecutive months, with a net injection of 3000 billion yuan in September [4] Group 4: Regional Developments - Zhengzhou is focusing on clearing overdue payments to enterprises, with plans to utilize national debt policies to secure more bond quotas for settling debts [5] - Hangzhou aims to achieve a zero financing platform target by the end of this year, enhancing debt risk monitoring capabilities [6] Group 5: Issuance Activities - Zhengzhou Zhongying Investment Development Group completed the issuance of 100 million yuan of medium-term notes with an interest rate of 2.57% [7] - Henan Silicon Valley New Materials Technology Company plans to issue up to 500 million yuan in private placement notes [8] - Zhejiang Provincial Transportation Investment Group is set to issue 30 billion yuan in public bonds, with a credit rating of AAA [10] Group 6: Corporate Changes - The controlling shareholder of Lanzhou Lanshi Group has changed to Gansu Provincial State Investment Group [12] - CIFI Group's restructuring plan for 100.6 billion yuan of domestic bonds has been approved by bondholders [13] Group 7: Market Sentiment - CITIC Construction Investment expects long-term interest rates to fluctuate widely and potentially rise slowly, suggesting a cautious approach to bond market investments [17] - Huatai Fixed Income Research highlights the need to monitor potential rebound opportunities in the bond market after October [18] - China Merchants Fixed Income advises against aggressive buying during any potential bond market rebound, emphasizing a cautious stance [20]

By Johann M Cherian, Lewis Krauskopf and Douglas Gillison (Reuters) - U.S. companies should be allowed to report earnings every six months instead of on a quarterly basis, President Donald Trump said on Monday, announcing what could prove to be a major shift for corporate America. The president said on his social media site Truth Social that change, which he had previously called for in 2018, would cut costs and discourage shortsightedness on the part of publicly traded companies. The U.S. Securities and ...