Core Viewpoint - China Galaxy Securities is actively promoting business transformation and ecological construction to align with national strategies, aiming to become a leading investment bank with international influence [1][2]. Strategic Leadership and Core Competitiveness - The company emphasizes governance capability as the foundation for development, attributing its high-quality growth to clear and firm strategic guidance [2]. - By 2025, China Galaxy Securities aims to achieve significant milestones in its strategic planning and celebrate its 25th anniversary, focusing on "serving the country through finance and prioritizing customer needs" [2]. - The company is optimizing its systems and mechanisms to enhance its competitiveness, leveraging its state-owned platform and resource integration [2]. Governance and Transparency - The company prioritizes effective communication with the market, ensuring accurate and timely information disclosure as part of its governance responsibilities [3]. Wealth Management Transformation - China Galaxy Securities has established a comprehensive wealth management system since 2019, focusing on customer segmentation and personalized services to enhance client loyalty [3]. - The company is committed to empowering various financial sectors, including technology finance, green finance, inclusive finance, digital finance, and pension finance [3][4]. Technology Finance Initiatives - The company supports technology companies through funding and assists them in listing and refinancing, addressing their financing challenges [4]. - It has established an "Entrepreneur Office" to provide governance and ESG guidance to technology firms, enhancing their competitiveness [4]. "Starry Navigation Plan" - Launched in May 2025, the "Starry Navigation Plan" aims to create an ecosystem that empowers China's technological innovation [6]. - The plan has attracted over 1,300 private equity institutions, demonstrating strong market recognition of the company's strategic direction [6]. - It provides tailored financial services and support for private equity firms focusing on "hard technology" and emerging strategic industries [6]. Future Outlook - The company will continue to focus on empowering China's technological innovation and deepen its platform functions, aligning with national strategies for technological self-reliance [7]. - It aims to replace traditional business models with ecological approaches and enhance wealth management services for investors [7].

● 本报记者 徐昭 刘英杰 战略引领打造核心竞争力 作为A＋H股上市券商，中国银河证券始终将治理能力视为企业发展的根基。谈及公司高质量发展的核 心驱动力，刘冰将其归因于清晰而坚定的战略引领。 2025年是我国"十四五"规划收官之年，也是中国银河证券践行战略规划、成立25周年的关键时点。近年 来，中国银河证券始终以"金融报国、客户至上"为使命，以"成为具有国际影响力的一流投资银行"为战 略规划目标，公司业绩稳步增长，主要业务收入与行业排名持续提升。 当前，我国资本市场改革持续深化，金融服务实体经济的功能更加凸显。在这一背景下，中国银河证券 紧紧围绕国家战略，积极推进业务转型与生态构建，充分展现了国有金融机构的责任担当。 中国银河证券执委会委员、业务总监、董事会秘书刘冰日前在接受中国证券报记者专访时表示，中国银 河证券以"成为具有国际影响力的一流投资银行"为战略规划目标，通过提升治理能力、深化财富管理转 型、实施"星耀领航计划"服务科技创新，在践行金融工作政治性、人民性的同时，也实现了自身高质量 发展。 在科技金融领域，公司的实践尤为突出。"一方面，在财富条线，我们通过股票质押等方式，为优质的 科技型上市公司提供 ...

当前，我国资本市场改革持续深化，金融服务实体经济的功能更加凸显。在这一背景下，中国银河证券 紧紧围绕国家战略，积极推进业务转型与生态构建，充分展现了国有金融机构的责任担当。 中国银河证券执委会委员、业务总监、董事会秘书刘冰日前在接受中国证券报记者专访时表示，中国银 河证券以"成为具有国际影响力的一流投资银行"为战略规划目标，通过提升治理能力、深化财富管理转 型、实施"星耀领航计划"服务科技创新，在践行金融工作政治性、人民性的同时，也实现了自身高质量 发展。 ● 本报记者 徐昭 刘英杰 战略引领打造核心竞争力 作为A＋H股上市券商，中国银河证券始终将治理能力视为企业发展的根基。谈及公司高质量发展的核 心驱动力，刘冰将其归因于清晰而坚定的战略引领。 2025年是我国"十四五"规划收官之年，也是中国银河证券践行战略规划、成立25周年的关键时点。近年 来，中国银河证券始终以"金融报国、客户至上"为使命，以"成为具有国际影响力的一流投资银行"为战 略规划目标，公司业绩稳步增长，主要业务收入与行业排名持续提升。 "我们注重战略的连贯性和执行力，公司的战略规划不仅是业务发展的指南，也是治理能力提升的框 架。同时，战略的落地 ...

Core Insights - The private equity industry in China is experiencing robust growth, with increasing focus on technology investment, service to the real economy, and corporate social responsibility [1][2][3] - The "Starry Navigation Plan" launched by China Galaxy Securities aims to integrate private equity with national innovation strategies, fostering a collaborative ecosystem among private equity firms, financial institutions, and high-net-worth clients [2][6][7] Industry Trends - Private equity firms are playing an increasingly significant role in capital market decision-making, with 979 private equity managers participating in A-share company research in September, totaling 2,789 research instances [3] - The concept of sustainable development is becoming integral to investment decisions, with ESG factors gaining importance [3][4] - Regulatory measures have led to a decrease in the number of active private equity firms, while the total management scale of securities investment private equity reached nearly 6 trillion yuan by the end of August, with 100 firms managing over 10 billion yuan, marking a three-year high [3] ESG and Technology Innovation - ESG reporting among A-share listed companies has significantly improved, with disclosure rates exceeding 80% in sectors like finance and steel [4] - The application of AI technology in quantitative investment is being explored, with challenges related to data quality and stability [5] - The integration of ESG practices is shifting from optional to essential for companies, enhancing governance and overall value [4][5] Awards and Recognition - The "Starry Navigation Plan" awarded five strategy categories, recognizing outstanding private equity managers and products based on a comprehensive evaluation system that includes traditional performance metrics and innovation capabilities [6][8][9][10] - The plan aims to promote high-quality development in the private equity sector by focusing on digital investment research and intelligent risk control [6][7] Future Directions - The vision of the "Starry Navigation Plan" is to create a leading platform for technology-driven private equity, transitioning from merely serving capital to supporting innovation and high-quality economic development [7]

Core Insights - The private equity industry in China is experiencing robust growth, with increasing focus on technology investment, service to the real economy, and corporate social responsibility [1][2][3] - The "Starry Navigation Plan" launched by China Galaxy Securities aims to integrate private equity with national science and technology strategies, fostering a collaborative ecosystem among private equity firms, financial institutions, and high-net-worth clients [2][6][7] Industry Trends - The private equity sector is becoming increasingly significant in capital market decision-making, with 979 private equity fund managers participating in A-share listed company research in September, totaling 2,789 research instances [2][3] - There is a growing emphasis on sustainable development, with ESG factors becoming essential in investment decision-making [2][4] Regulatory Environment - Recent regulatory measures have led to a decrease in the number of active private equity firms, with a rise in cancellations and higher registration thresholds for new managers and products [3] - As of August, the management scale of securities investment private equity reached nearly 6 trillion yuan, with 100 private equity managers managing over 10 billion yuan, marking a three-year high [3] ESG and Technology Innovation - ESG reporting among A-share listed companies has significantly improved, with disclosure rates exceeding 80% in sectors like finance and steel [4] - The application of AI technology in quantitative investment faces challenges, including limited training data and low signal-to-noise ratios, but offers potential in areas like news analysis and financial data interpretation [5] Awards and Recognition - The "Starry Navigation Plan" awarded five strategy categories, recognizing outstanding private equity fund managers and products based on a comprehensive evaluation system that includes traditional performance metrics and factors like technological innovation and ESG practices [6] - The plan aims to enhance the influence of the private equity industry and promote high-quality development through a holistic service system that includes performance evaluation and capability building [6][7]

Core Insights - The private equity industry in China is experiencing robust growth, with increasing focus on technology investment, service to the real economy, and corporate social responsibility [1][2] - The "Starry Navigation Plan" launched by China Galaxy Securities and China Securities Journal aims to integrate private equity with national science and technology strategies, fostering a collaborative ecosystem among private equity firms, financial institutions, and high-net-worth clients [2][5] Group 1: Industry Trends - The private equity sector is becoming increasingly significant in capital market decision-making, with 979 private equity fund managers participating in A-share listed company research in September alone, totaling 2,789 research instances [2][3] - The number of registered private equity firms is decreasing while the management scale of securities investment private equity approaches 6 trillion yuan, with 100 firms managing over 10 billion yuan, marking a three-year high [3][4] Group 2: ESG and Technology Innovation - ESG factors are becoming essential in investment decisions, with over 80% of companies in sectors like finance and steel disclosing ESG reports, indicating a shift from optional to mandatory practices [3][4] - AI technology is being applied in quantitative investment, facing challenges such as limited training data and low signal-to-noise ratios, but holds potential for financial data analysis and news interpretation [4][5] Group 3: Awards and Recognition - The "Starry Navigation Plan" awarded outstanding private equity fund managers and products across five strategy categories, emphasizing the importance of technology innovation, ESG practices, and corporate governance in evaluations [5] - The plan aims to enhance the influence of the private equity industry and promote high-quality development through a comprehensive evaluation system that includes performance metrics and innovation capabilities [5]

Core Viewpoint - The "Starry Navigation Plan" aims to create a premier communication platform for listed companies, private equity institutions, and professional investment organizations, focusing on technology and innovation trends to explore new development opportunities and investment blueprints [1][2]. Group 1: Event Overview - The "Starry Navigation Plan" semi-annual award ceremony will take place in Nantong, Jiangsu Province, featuring executives from listed companies, private fund managers, and representatives from various financial institutions [1][2]. - The event emphasizes the importance of private equity in connecting financial resources with technology innovation enterprises, aiming to empower the private equity industry for high-quality development [2][3]. Group 2: Evaluation and Awards - The plan employs a combined quantitative and qualitative evaluation system to assess the comprehensive strength of private fund managers, focusing on "products + investment advisory + investment" [2]. - Awards include the "Starry Professional Award," "Technology Innovation Leadership Award," and "Upholding Development Award," with the "Starry Professional Award" divided into five categories: long-only equity, index enhancement, relative value, CTA, and fixed income [2]. Group 3: Future Development - The "Starry Navigation Plan" aims to deepen its empowerment system by providing tailored support to private fund managers, establishing a dual empowerment mechanism between capital and industry, and creating an open collaborative ecosystem [3]. - Future activities will include customized roadshows, industry research, and expert resources to help institutions accurately grasp technology industry trends [3].

Core Viewpoint - The "Starry Navigation Plan" aims to create a premier communication platform for listed companies, private equity institutions, and professional investment organizations, focusing on technology and innovation trends to explore new development opportunities and investment blueprints [1][2]. Group 1: Event Overview - The semi-annual award ceremony will be held on October 29 in Nantong, Jiangsu Province, organized by China Galaxy Securities and China Securities Journal [1]. - The event will gather executives from listed companies, private fund managers, and representatives from various financial institutions to discuss market insights and industry trends [1][2]. Group 2: Objectives and Focus - The "Starry Navigation Plan" emphasizes the importance of serving the financial sector and the national science and technology innovation strategy, guiding private fund managers to focus on investing in hard technology [1][2]. - The plan aims to create a significant platform for empowering the private equity industry, facilitating deep connections between financial resources and technology innovation enterprises [1][3]. Group 3: Award Categories - The awards will recognize private fund managers in three main categories: "Starry Professional Award," "Technology Innovation Leadership Award," and "Integrity Development Award," with the "Starry Professional Award" further divided into five subcategories [2]. - The five subcategories include Long-Only Equity, Enhanced Index, Relative Value, CTA, and Fixed Income, with recognition based on their semi-annual performance [2]. Group 4: Future Development - The plan will enhance its empowerment system by providing tailored support to private fund managers, establishing a dual empowerment mechanism between capital and industry, and creating an open collaborative ecosystem [3]. - Future activities will include themed salons and closed-door discussions to promote efficient connections between private equity institutions and technology innovation enterprises, fostering deep integration of innovation, industry, and capital chains [3].

Core Insights - The "Starry Navigation Plan" semi-annual award ceremony aims to create a top-tier communication platform for listed companies, private equity institutions, and professional investment organizations, focusing on technology and innovation trends [1][2] Group 1: Event Overview - The event will feature executives from listed companies, private fund managers, and representatives from various financial institutions discussing market insights and industry perspectives [2] - The plan emphasizes the importance of private equity in supporting the national science and technology innovation strategy, aiming to connect financial resources with innovative enterprises [2][3] Group 2: Evaluation and Awards - The "Starry Navigation Plan" employs a combined quantitative and qualitative evaluation system to assess private fund managers' overall strength, focusing on "products + investment advisory + investment" [2] - Awards include the "Starry Professional Award," "Innovation Leadership Award," and "Integrity Development Award," with the professional award divided into five categories: long-only equity, enhanced index, relative value, CTA, and fixed income [2] Group 3: Industry Development - Since its launch in May, the plan has aimed to recognize private fund management institutions excelling in investment performance, risk control, innovation, and social responsibility [3] - Future initiatives will enhance support for private fund managers through customized roadshows, industry research, and expert resources, and establish a dual empowerment mechanism between capital and industry [3] Group 4: Collaborative Efforts - The plan will facilitate efficient connections between private equity institutions and innovative enterprises through regular thematic salons and closed-door discussions, promoting the integration of innovation, industry, and capital [3][4]

Group 1 - The company plans to distribute cash dividends totaling RMB 1,366,800,282.00, which translates to RMB 1.25 per share, subject to adjustments based on changes in total share capital before the record date [1][50][51] - As of the end of the reporting period, the company's total assets amounted to RMB 781.74 billion, with equity attributable to shareholders of RMB 144.14 billion [8] - The company achieved operating revenue of RMB 13.75 billion, representing a year-on-year increase of 37.71%, and a net profit attributable to shareholders of RMB 6.49 billion, up 47.86% year-on-year [8] Group 2 - The wealth management business has seen a significant increase in trading volume, with the average daily trading volume of stock funds reaching RMB 1.54 trillion, a 36.6% increase compared to the previous year [8][9] - The company has over 18 million clients, with a focus on enhancing service levels and expanding its client base through digital platforms and physical branches [9][10] - The company’s financial product sales and investment advisory services have been optimized, with the total scale of financial products reaching RMB 214.15 billion, a 1.4% increase from the beginning of the year [11] Group 3 - The investment banking sector has shown robust growth, with the domestic equity financing scale increasing by 402.9% year-on-year, and the company completed one IPO and four refinancing projects during the reporting period [14][15] - The company’s bond underwriting scale reached RMB 327.26 billion, marking an 82.8% increase year-on-year, ranking sixth in the market [16] - The company has been recognized with multiple awards, including "Best Potential Investment Bank" and "Best Debt Underwriting Investment Bank" [16] Group 4 - The company’s institutional business has expanded, serving over 7,000 institutional clients and enhancing its service ecosystem through technology integration [18][19] - The PB business has grown, with a total scale of RMB 347.1 billion and a year-on-year increase of 56.3% in stock fund trading volume [20] - The company has launched various innovative products in the fixed income sector, achieving significant milestones in bond trading and risk management [33][34] Group 5 - The company’s international business has strengthened, completing 11 Hong Kong IPO projects and underwriting 103 offshore bonds, with a notable rise in market rankings [27][28] - The overseas segment has successfully participated in major economic forums and completed significant cross-border financing transactions [28][29] - The company has received multiple accolades for its performance in Southeast Asia, enhancing its reputation as a leading broker in the region [29]