证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交1.08亿元， 其中，买入成交额为6812.16 万元，卖出成交额为3981.68万元，合计净买入2830.49万元。具体来看，今日上榜营业部中，第一大买 入营业部为中信证券股份有限公司上海分公司，买入金额为1830.84万元，其次是中信证券股份有限公 司深圳滨海大道证券营业部，买入金额1578.25万元。卖出营业部中，有1家机构专用席位现身，即卖 一，卖出金额分别为1824.76万元，营业部合计卖出2156.92万元。买卖金额相抵，机构专用席位今日净 卖出该股1824.76万元。 9月22日通源环境(688679)收盘价19.95元，收盘上涨16.19%，全天换手率7.51%，振幅17.45%，成交额 1.88亿元。科创板交易公开信息显示，当日该股因日收盘价涨幅达15%等上榜。 资金流向方面，该股今日全天主力资金净流入1101.17万元。（数据宝） 通源环境9月22日龙虎榜 | 买入营业部名称 | 买入金额(万元) | | --- | --- | | 中信证券股份有限公司上海分公司 | 1830.84 | | 中信证券股份有限公司深圳滨海大道证券营业部 ...

"敬畏法律，敬畏规则。"这是叶飞见到证券时报记者的第一句话。身着梅西10号球衣的叶飞，鸭舌帽掩不住鬓梢的白发，面容清瘦不少。 "双面"前私募冠军 "我深深地后悔曾帮助了这些庄家，给散户带来伤害。"在接受记者采访时，叶飞反复表示愧疚反省。 2021年，叶飞公开举报某上市公司"坐庄赖账"，并陆续爆料多家上市公司与资金盘合谋，引发轩然大波。多家被叶飞点名的公司股价大跌。 2023年底，青岛中院以操纵证券市场罪等判处叶飞有期徒刑三年多，并处罚金五十万元。次年，叶飞又因为两家其他上市公司案被判罚。最终多案合并执 行，被判处有期徒刑四年。 服刑期间，叶飞对法律的敬畏有了更深的认识。今年5月，他曾参加监狱忏悔演讲。他说，"我的犯罪破坏了中国证券市场秩序和三公原则，对不起数以亿 计的中国股民和曾经关注我的诸多粉丝"。 山东日照，细雨蒙蒙。9月22日上午，曾搅动A股"伪市值管理"风云的叶飞结束四年铁窗生涯，走出高墙。 从前私募冠军到"伪市值管理"举报人，从铁窗生涯到重获自由，叶飞的人生在十年间空前跌宕。出狱后，他考虑去北京发展，重启私募和影视两大主业。 叶飞说，自己可能还会参与合规的市值管理相关业务，同时正在酝酿三部剧本，以" ...

Group 1 - As of September 22, 2025, the performance of Chinese assets has been strong, with the Shanghai Composite Index up 14.23%, the Shenzhen Component Index up 26.34%, the Hang Seng Index up 31.33%, and the Hang Seng Tech Index up 40.06%, outperforming the S&P 500's approximately 13% increase this year [1] - High interest from long-term overseas investors in non-US markets, particularly China, Japan, and Europe, is noted, as US stock valuations are considered high [1] - The recent market rebound is supported by a more balanced participation from domestic institutional investors, including insurance, pension funds, quantitative funds, and public funds, alongside retail investors [1] Group 2 - The focus on "anti-involution" has surpassed discussions on US-China trade negotiations, potentially leading to an annual increase of about 2% in corporate profits over the next few years [2] - Goldman Sachs maintains an overweight rating on A-shares and H-shares, predicting an 8% upside for A-shares and a 3% upside for H-shares over the next 12 months [2] - The firm remains optimistic about sectors such as internet, insurance, and materials, while also monitoring opportunities in AI themes and Chinese companies expanding overseas [2]

湘财股份换股吸收合并大智慧迎来新进展。9月22日晚间，湘财股份与大智慧公告称，本次交易相关的 审计、尽职调查等工作已基本完成，待公司与中介机构进一步完善本次交易的相关工作后，将再次召开 董事会审议本次交易的相关议案，并按照相关法律法规的规定履行后续有关程序及信息披露义务。 ...

Core Insights - The total revenue of 42 listed securities firms in the first half of 2025 reached 251.9 billion yuan, a year-on-year increase of 31%, while the net profit attributable to shareholders was 104 billion yuan, up 65% [1] - Among these firms, the asset management business saw a decline in net income from fees, totaling 21.195 billion yuan, down 3.02% year-on-year [1] Company-Specific Analysis - Dongfang Securities reported a revenue of 8.001 billion yuan in the first half of 2025, representing a year-on-year growth of 38.87%, and a net profit of 3.463 billion yuan, up 64.02% [1][2] - The asset management segment of Dongfang Securities generated a net income from fees of 601 million yuan, a decrease of 15.13% compared to the previous year [3] - Dongfang Securities' asset management subsidiary, Dongzheng Asset Management, has experienced a continuous decline in revenue and net profit over the past three years, with revenues dropping from 2.73 billion yuan in 2022 to 1.435 billion yuan in 2024 [4][6] Market Position and Trends - As of the end of the first half of 2025, Dongzheng Asset Management managed a total of 233.781 billion yuan in assets, reflecting a growth of 7.95% from the end of 2024 [3] - Dongzheng Asset Management's revenue and net profit ranked fifth among 23 asset management subsidiaries of securities firms in the first half of 2025, a significant drop from its previous first-place position in 2021 [7]

Core Viewpoint - The article highlights the significant achievements and reforms in China's capital market during the "14th Five-Year Plan" period, emphasizing the expansion of the market, regulatory improvements, and the focus on supporting technological innovation and long-term investments [1][4][10]. Summary by Sections Achievements in Capital Market - A total of 13 foreign-controlled securities and fund futures institutions have been approved to operate in China, with foreign ownership in A-shares reaching 3.4 trillion yuan [1][12]. - The total market capitalization of A-shares surpassed 100 trillion yuan for the first time in August 2023 [5][6]. - Over the past five years, the stock and bond financing reached 57.5 trillion yuan, with direct financing accounting for 31.6% of the total [5][6]. Regulatory Improvements - The regulatory framework has been significantly enhanced, with 2,214 administrative penalties issued and a total of 41.4 billion yuan in fines imposed [2][8]. - The implementation of the registration system has been fully realized, and the scale of medium- and long-term funds held has increased by 32% compared to the end of the "13th Five-Year Plan" [2][10]. Market Structure and Functionality - The market structure has become more multi-layered and comprehensive, with the establishment of the Beijing Stock Exchange and ongoing reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [5][10]. - The proportion of technology companies in the A-share market has increased, with over 90% of newly listed companies being technology-related [6][10]. Future Directions - The China Securities Regulatory Commission (CSRC) has outlined four key future directions: enhancing the adaptability of the multi-layered market system, leveraging medium- and long-term funds, improving the quality and investment value of listed companies, and implementing precise and effective regulation [16][17].

Core Viewpoint - The expansion of China's capital market is highlighted, with significant reforms and measures aimed at increasing foreign investment and enhancing market transparency and governance [1][2]. Group 1: Foreign Investment and Market Opening - The China Securities Regulatory Commission (CSRC) has approved 13 foreign-controlled securities, fund, and futures institutions to operate in China during the 14th Five-Year Plan period [1] - Foreign ownership in A-shares has reached 3.4 trillion RMB, with 269 companies listed overseas [1] - The CSRC has fully removed foreign shareholding limits for industry institutions and improved the Qualified Foreign Institutional Investor (QFII) system [1] Group 2: Regulatory Reforms and Initiatives - The CSRC has implemented significant reforms, including the introduction of long-term stock investment by insurance funds and the nationwide promotion of the personal pension system [1] - Initiatives such as the "Science and Technology Innovation 16 Articles," "Science and Technology Innovation Board 8 Articles," and "Mergers and Acquisitions 6 Articles" have been launched to support new productive forces [1] - The CSRC has revised the information disclosure management measures and improved corporate governance standards, promoting more standardized and transparent operations of listed companies [2]

截至收盘，创业板中盘200指数上涨1.0%，创业板指数上涨0.6%，创业板成长指数上涨0.3%，创业板ETF（159915）交投活跃，全天成交额超40亿元。截至 昨日，该产品规模超1050亿元，位居同类产品第一。 招商证券表示，展望后市，目前市场仍处于牛市阶段Ⅱ，驱动A股本轮上行的三大原因没有发生变化，在政策出现明显转向之前，市场有望继续沿着低渗透 率赛道的方向演绎，当前可关注固态电池、AI算力，人形机器人，商业航天等领域。 川レーリ | エイスス] H J ← レ ノ ヘ 川 ス ホーム | 人 | 人 | バ | バ | バ 反映创业板市场中盘代表性公 司的整体表现,信息技术行业 占比超40% 注1:"该指数"指各上述基金产品具体跟踪的指数。数据来自Wind,指数涨跌幅截至2025年9月22日4 润,该估值指标和企业盈利紧密相关,适用于盈利相对稳定且受周期影响较小的行业。估值分位指该抄 日至2025年9月19日。创业板指数2010年6月1日发布,创业板中盘200指数2023年11月15日发布,创业材 注2:银行、互联网平台等相关销售机构提供可场外投资的ETF联接基金。 注3: 低费率产品,其管理费率0.1 ...

Group 1 - The company Shenyin Wanguo Securities Co., Ltd. completed the issuance of subordinated bonds on September 15, 2025, with a total issuance scale of RMB 3 billion [1] - The first type of bond has an issuance scale of RMB 2 billion, a term of 3 years, and a coupon rate of 2.15% [1] - The second type of bond has an issuance scale of RMB 1 billion, a term of 5 years, and a coupon rate of 2.24% [1] Group 2 - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting September 19, 2025, and will be traded among institutional investors [1] - The first type of bond is referred to as "25申证C1" with the bond code "524428," while the second type is referred to as "25申证C2" with the bond code "524429" [1]

Group 1 - The company, Shenwan Hongyuan, announced the completion of the issuance of subordinated bonds by its subsidiary, Shenwan Hongyuan Securities Co., Ltd., aimed at professional investors, on September 15, 2025 [1] - The total issuance scale of the bonds is RMB 3 billion, with the first type having an issuance scale of RMB 2 billion, a term of 3 years, and a coupon rate of 2.15% [1] - The second type has an issuance scale of RMB 1 billion, a term of 5 years, and a coupon rate of 2.24% [1] Group 2 - The bonds are scheduled to be listed on the Shenzhen Stock Exchange starting September 19, 2025, and will be traded among institutional investors [1] - The first type of bond is referred to as "25申证C1" with the bond code "524428", while the second type is referred to as "25申证C2" with the bond code "524429" [1]