2025年证券行业交出了一份看似亮眼却暗藏玄机的三季报：在自营与经纪业务的强势驱动下，42家上市 券商前三季度营收同比激增逾42%，归母净利润飙升超62%。然而，在一片红火的业绩报表中，资管业 务却成了那个"失速"的板块——仅2.43%的微弱增速，不仅使其在五大业务板块中"敬陪末座"，更折射 出行业深层的焦虑与阵痛。 这种焦虑在战略层面表现得尤为剧烈，曾经备受追捧的公募牌照申请，在今年8月后突现"撤回潮"。种 种迹象表明，券商资管正站在一个新的十字路口：告别牌照红利，一场关于能力、技术与差异化定位的 深度重塑正在发生。 具体到机构表现，行业分化进一步加剧。中信证券（600030）、广发证券（000776）和国泰海通 （601211）稳坐资管收入前三把交椅，分别实现87.03亿元、56.61亿元和42.73亿元营收。不过，在42家 上市券商中，仅有14家的资管业务实现正增长，占比仅三分之一。这其中，长城证券（002939）、国泰 海通和国金证券（600109）表现抢眼，分别以65.86%、49.29%和36.67%的增速位居前三，招商证券 （600999）、中金公司（601995）和东吴证券也保持了20%以上的 ...

本届金博会同步揭晓"2025中国证券业君鼎奖"评选结果，子公司中德证券摘得"2025中国证券业区域投 行君鼎奖"，子公司山证资管荣获"2025中国证券业固收+资管计划君鼎奖"，彰显了公司在投资银行、资 产管理等业务领域的精耕细作和优秀表现。 中德证券始终以"服务地方发展、赋能实体经济"为导向，依托资源禀赋与专业优势，通过"区域深耕+专 业服务"的双轮驱动，构筑起与地方发展同频共振的品牌优势，聚焦地方企业需求，发挥投行功能价 值，构建了覆盖企业全生命周期的综合金融服务体系，在助力地方产业升级、推动区域经济转型发展 中，稳步夯实区域品牌影响力。 山证资管秉持"以客户为中心"的核心理念，深度整合母公司牌照资源及在投资研究、风险控制、产品布 局等方面优势，以数智化手段实现客户需求与投资策略的高效适配；以"固收为基"不断丰富产品矩阵， 通过 FOF、MOM 等"多资产多策略"布局，助力客户穿越市场周期，实现长期稳健的资产配置目标。 分享前沿洞见，共话湾区机遇 在本届金博会期间，山西证券受邀参加系列交流活动，从业务实践、战略愿景等多个维度分享了在湾区 战略实践、跨境金融服务、数字化转型与资产管理体系建设等方面的布局与思考 ...

来源：金融人事mini 本月，兴业期货刚迎来新任掌门人。 官网信息显示，陈文奇自2025年9月10日起任兴业期货董事长，陈文奇是兴业系老将，历任兴业银行总行私人银行部副总经理、华福基金董事长、华福证券副总裁等职。据悉，原兴业期货董事长 今年上半年，兴业期货总裁职务也出现变动。王华自2025年4月18日起任兴业期货总经理，此前其为兴业银行北京分行副行长。银行人事还了解到，兴业期货一副总已回归兴业银行。 兴业期货副总裁丁一波，调任兴业银行石家庄分行党委委员；曾任兴业银行南京分行南京管理部总经理，兴业期货总裁助理。 司斌，1973年出生，本科，学士学位。曾任兴业银行总行公司业务部总经理助理，郑州分行党委委员、副行长，兴业信托党委委员、副总裁等职；现任兴业国信资管党委委员、董事、总裁。 据了解，兴业金融租赁有限责任公司成立于2010年8月，注册资本90亿元，为兴业银行全资子公司。经营范围包括金融租赁业务、转让和受让融资租赁资产、固定收益类证券投资业务等。截至2 今年上半年，兴业金租发挥牌照优势，联动集团服务实体经济，与超过20家兴业银行分行开展项目合作，重点推进绿色租赁、科技新兴、航运等领域业务发展。具体来看，投放绿 ...

Group 1 - The core viewpoint of the article highlights that Inspur Digital Enterprise (00596) has seen its stock price increase by over 170% year-to-date, with a recent rise of 5.45% to HKD 10.06, and a trading volume of HKD 54.23 million [1] - The company anticipates a net profit attributable to the parent company of approximately RMB 180 million to 190 million in the first half of 2025, driven by significant growth and profitability in its cloud services business [1] - As a comprehensive ERP provider in China, Inspur Digital Enterprise benefits from its affiliation with Inspur Group, focusing on smart ERP, PaaS platforms, and MOM products, which have supported enterprises in their digital transformation efforts [1] Group 2 - The company is actively promoting its cloud transformation, resulting in rapid revenue growth from its cloud services, which enhances its already stable operational quality [1] - The traditional ERP-based management software business serves as a solid foundation for the company's ongoing cloud transition [1]

Group 1 - The core viewpoint of the article highlights that Inspur Digital Enterprise (00596) has seen its stock price increase by over 170% year-to-date, with a current rise of 5.45% to HKD 10.06 [1] - The company anticipates a net profit attributable to the parent company of approximately RMB 180 million to 190 million in the first half of 2025, driven by significant growth and profitability in its cloud services business [1] - According to Zhongtai Securities, Inspur Digital Enterprise, as a comprehensive large-scale ERP vendor in China, benefits from its affiliation with Inspur Group and has a strong foundation in digital transformation for enterprises through its smart ERP, PaaS platform, and MOM products [1] Group 2 - The company is actively promoting its cloud transformation, resulting in rapid revenue growth from its cloud services, which continues to enhance its already robust operational quality [1]

Core Viewpoint - Inspur Digital Enterprise (00596) has seen its stock price increase by over 170% year-to-date, with a recent rise of 5.45% to HKD 10.06, reflecting strong market performance and investor confidence [1] Group 1: Financial Performance - The company expects to achieve a net profit attributable to the parent company of approximately RMB 180 million to 190 million in the first half of 2025, driven by the significant growth and profitability of its cloud services business [1] - The stock's trading volume reached HKD 54.23 million, indicating robust investor interest and activity [1] Group 2: Business Strategy - Inspur Digital Enterprise is actively transforming its business model towards cloud services, which has led to substantial revenue growth in this segment [1] - The company, backed by Inspur Group, specializes in smart ERP, PaaS platforms, and MOM products, contributing to its deep industry experience and capability in facilitating digital transformation for enterprises [1]