格隆汇2月4日｜协鑫集成(002506.SZ)今日涨停，换手率25.1%，成交额53.79亿元。龙虎榜数据显示，深股通买入1.32亿元，卖出1.19亿元，净买入1331万 元；中信证券北京建外大街证券营业部位列卖一席位，净卖出6.75亿元。上榜席位全天买入5.94亿元，卖出10.15亿元，合计净卖出4.21亿元。(格隆汇) | 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | 1 | 国泰海通证券股份有限公司武汉紫阳东路证券营业部 | 21次 47.62% 2 | 14866.01 | 2.76% | | 2 | easimoney.com 深股通专用 | 959次 47.55% | 13241.75 | 2.46% | | 3 | 国泰海通证券股份有限公司北京知春路证券营业部 | 74次 51.35% | 10308.23 | 1.92% | | 4 | 机构专用 | 2025次 42.12% | 8202.48 | 1.53% | | 5 | 机构专用 | 2025次 42.12% | 7641.49 | 1.42% ...

智通财经APP获悉，中信证券发布研报称，整体而言，餐饮行业正在过渡至以基本面改善为主线的修复 阶段，中期展望积极。该行推荐如下投资主线：1)高质价比定位适配消费趋势，拓店动能和品牌势能强 劲，同店有充分支撑的成长赛道领先企业;2)主营业务稳中有进，新品牌具发展潜力，提供高股东回报 的行业龙头;3)积极变革，经营触底回升的细分赛道公司。 中信证券主要观点如下： 估值：对标海外发展经验，通胀驱动中枢提升 综合日本及美国市场海外经验，CPI是餐饮板块估值的重要变量。在CPI下行或通缩阶段，尽管原材料 成本压力缓解，但价格竞争加剧、同店增长乏力以及需求预期偏弱，往往压制餐企估值中枢;而随着CPI 回升、通胀预期改善，市场对企业中长期的发展预期提升，推动估值进入修复扩张通道。头部餐企具备 更强的供应链、经营管理能力和定价权，具备穿越周期能力，估值中枢有望在价格环境修复过程中获得 系统性抬升。 餐饮行业正逐步进入由多重因素共同驱动的修复阶段 经营层面，自2H25起，社零餐饮收入及主要餐饮业态同店表现同步改善，同时行业新增供给节奏放 缓，竞争强度边际趋缓。政策层面，服务消费在稳增长框架中的重要性持续提升，餐饮凭借高频消费、 ...

Core Viewpoint - Jiewate (688141.SH) has disclosed its 2025 annual performance forecast, indicating expected revenue between 2.6 billion to 2.75 billion yuan, but projecting a net loss attributable to shareholders of 730 million to 630 million yuan [1] Group 1: Financial Performance Forecast - For 2025, Jiewate anticipates operating revenue of 260,000.00 thousand yuan to 275,000.00 thousand yuan [1] - The projected net profit attributable to shareholders is expected to be a loss of 730,000.00 thousand yuan to 630,000.00 thousand yuan [1] - The forecasted net profit excluding non-recurring gains and losses is estimated to be a loss of 820,000.00 thousand yuan to 720,000.00 thousand yuan [1] Group 2: Historical Financial Performance - In 2023, Jiewate reported a net profit attributable to shareholders of -531.4 million yuan, and in 2024, it was -603.4 million yuan [1] - The net profit excluding non-recurring gains and losses for 2023 was -554.1 million yuan, and for 2024, it was -643.8 million yuan [1] Group 3: IPO and Fundraising - Jiewate raised a total of 222,214.08 thousand yuan from its initial public offering, with a net amount of 205,468.49 thousand yuan, exceeding the original fundraising target by 48,373.76 thousand yuan [2] - The company initially planned to raise 157,094.73 thousand yuan for various projects, including high-performance power management chips and automotive electronic chips [2] - The total issuance costs for the IPO amounted to 16,745.59 thousand yuan, with underwriting fees of 13,332.84 thousand yuan [2] Group 4: Company Control - The actual controllers of Jiewate are Zhou Xunwei, a U.S. national, and Huang Biliang, a resident of Macau, China [2]

Core Viewpoint - The overall performance of listed securities firms is showing high-quality growth for 2025, driven by improved market conditions, optimized business structures, and ongoing policy benefits [2] Group 1: Market Performance - As of February 4, 2026, the CSI All Share Securities Company Index (399975) rose by 1.16%, with notable increases in stocks such as Huayin Securities (up 6.23%) and Dongwu Securities (up 2.61%) [1] - The securities ETF Huaxia (515010) increased by 1.04%, attracting a total net inflow of 24.52 million yuan over the past three days [1] Group 2: Earnings Reports - By January 30, 2026, major firms like CITIC Securities reported a revenue of 74.83 billion yuan for the year, a year-on-year increase of 28.75%, and a net profit of 30.05 billion yuan, up 38.46% [1] - Guotai Junan is projected to achieve a net profit of 27.53 billion to 28.01 billion yuan for 2025, reflecting a growth of 111% to 115% year-on-year [1] Group 3: Growth Drivers - The growth of listed securities firms is attributed to three main factors: improved market conditions leading to increased trading volumes, ongoing optimization of business structures, and the release of policy benefits that enhance profitability [2] - The average daily trading volume of A-shares has increased, boosting commission income from brokerage services, while the balance of margin financing has steadily expanded, enhancing interest income from credit business [2] Group 4: ETF Details - The Huaxia Securities ETF has the lowest management fee rate of 0.15% and a custody fee rate of 0.05% among comparable funds [2] - As of February 3, 2026, the tracking error for the Huaxia Securities ETF over the past month was 0.004%, indicating the highest tracking precision among comparable funds [2] - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the Huaxia Securities ETF is 16.78, which is below 98.42% of the historical data over the past year, indicating a historically low valuation [2]

Group 1 - A-shares brokerage stocks have shown strong performance, with Huayin Securities rising over 7% and Dongwu Securities increasing over 3% [1] - Other notable gainers include Huaxin Securities, Guotai Haitong, and Southwest Securities, each rising over 2% [1] Group 2 - Huayin Securities has a market capitalization of 51.7 billion and a year-to-date increase of 24.85% [2] - Dongwu Securities has a market capitalization of 47.3 billion and a year-to-date increase of 4.97% [2] - Huaxin Securities has a market capitalization of 18.1 billion and a year-to-date increase of 12.01% [2] - Guotai Haitong has a market capitalization of 352.4 billion but a year-to-date decrease of 2.73% [2] - Southwest Securities has a market capitalization of 30.4 billion and a year-to-date increase of 2.23% [2]

数据显示，截至2026年1月30日，中证全指证券公司指数前十大权重股分别为东方财富、中信证券、国 泰海通、华泰证券、广发证券、招商证券、东方证券、兴业证券、申万宏源、中金公司，前十大权重股 合计占比60.66%。 2026年2月4日午后，证券行业红盘震荡，截至13:09，中证全指证券公司指数上涨0.30%，成分股华林证 券上涨3.20%，国泰海通上涨1.64%，东吴证券上涨1.52%，华泰证券上涨1.06%，国信证券上涨0.90%。 数据显示，多家头部券商2025年业绩大幅预喜，中信证券全年归母净利润同比增长38.46%，国泰海通 预计同比增长111%至115%，国联民生更达406%。中航证券指出，在监管明确鼓励整合背景下，并购已 成为券商实现高质量发展的有效路径，有望进一步强化头部优势。 中邮证券分析认为，券商板块驱动逻辑高度一致：权益市场回暖带动交投活跃度提升，日均股基成交额 达3.7万亿元、两融余额稳守2.74万亿元高位；叠加资本市场改革深化政策红利释放，共同支撑经纪与自 营业务双轮增长。尽管板块短期跑输大盘，但当前估值显著滞后于盈利修复节奏，基本面与估值错配特 征突出。 证券ETF嘉实(562870) ...

根据Choice数据，截至2026年2月3日，A股和港股市场已有24家上市券商披露业绩预告或业绩快报，且 全部实现净利润正增长。 | 公司简称 | 预告净利润中值 | 预告类型 | 预告净利润变动中值 | 预告净利润 | 预告净利润 | | --- | --- | --- | --- | --- | --- | | | /业绩快报净利润(亿元) | | /业绩快报变动幅度(%) | 上限(亿元) | 下限(亿元) | | 中信证券 | 300.51 | 预增 | 38.46 | | | | 国泰海通 | 277.70 | 预增 | 113.00 | 280.06 | 275.33 | | 招商证券 | 123.00 | 预增 | 18.43 | 1 | i | | 甲万宏源 | 96.00 | 预增 | 84.24 | 101.00 | 91.00 | | 中美公司 | 95.39 | 预增 | 67.50 | 105.35 | 85.42 | | 东方证券 | 56.20 | 预增 | 67.80 | 56.20 | 56.20 | | 方正证券 | 39.70 | 预增 | 80.00 | 40.80 | ...

Core Viewpoint - The A-share market experienced fluctuations, with brokerage stocks showing strength against the trend, indicating a potential recovery in the brokerage sector's performance [1][10]. Group 1: Market Performance - On February 4, A-shares opened lower but saw brokerage stocks like Huayin Securities rising over 4%, Dongwu Securities and Guotai Junan increasing nearly 2%, and others like Huatai Securities and Southwest Securities rising over 1% [1][10]. - The 390 billion yuan brokerage ETF (512000) saw an increase of 0.71% in its market price, with a significant net inflow of 1.139 billion yuan over the past five days [1][10]. Group 2: Brokerage Business Outlook - In January 2026, new A-share accounts reached 4.9158 million, a month-on-month increase of 89% and a year-on-year increase of 213% compared to January 2025, indicating a robust brokerage business environment [2][12]. - Analysts noted a significant recovery in self-operated investment income for brokerages in January, with brokerage business activity reaching historical highs, suggesting a strong start to the year for listed brokerages [3][12]. Group 3: Profit Forecasts - As of now, 26 listed brokerages have reported or forecasted their earnings, all showing year-on-year profit growth, a rare "full house" scenario, with six firms reporting over 100% growth [3][12]. - Notably, Citic Securities reported a record net profit exceeding 30 billion yuan, while Guotai Junan's net profit increased by 111% to 115% [3][12]. Group 4: Valuation and Market Position - Despite the overall bullish market, the brokerage sector has not seen significant momentum, with the CSI All Share Securities Index only rising 2.54% in 2025, compared to a 22.70% increase in the Shanghai Composite Index [4][12]. - The sector's valuation remains low, with a price-to-book ratio (PB) of 1.43, indicating a significant disconnect between high growth in earnings and stock performance [4][12].

登录新浪财经APP 搜索【信披】查看更多考评等级 中国经济网北京2月4日讯 北京证券交易所上市委员会2026年第12次审议会议于2026年2月3日上午召 开，审议结果显示，安徽新富新能源科技股份有限公司（以下简称"新富科技"）符合发行条件、上市条 件和信息披露要求符合发行条件、上市条件和信息披露要求。这是2026年过会的第16家企业（其中，上 交所和深交所一共过会5家，北交所过会11家）。 新富科技本次发行的保荐人、主承销商为中信证券股份有限公司，签字保荐代表人为万同、姚玉洁。这 是中信证券今年保荐成功的第3单IPO项目。1月13日，中信证券股份有限公司保荐的杭州高特电子设备 股份有限公司过会。1月14日，中信证券股份有限公司保荐的苏州联讯仪器股份有限公司过会。 新富科技自成立以来，一直专注于新能源汽车热管理零部件的研发、生产和销售，主要产品包括电池液 冷管、电池液冷板。相关产品使电芯保持在合理的工作温度范围内，以优化电芯老化速度、循环效率、 充放电效率，在提高电池组寿命的同时，极大降低热失控风险。 截至招股说明书签署日，安庆创新壹号企业管理合伙企业（有限合伙）（以下简称"创新壹号"）持有新 富科技14,81 ...

Core Viewpoint - The performance of listed securities firms in the A-share market has shown steady growth, driven by a favorable equity market and increased trading activity, with all reported firms expecting profit increases for 2025 [1][6]. Group 1: Performance of Major Securities Firms - Three securities firms are expected to exceed 10 billion yuan in revenue for 2025: CITIC Securities, China Merchants Securities, and Everbright Securities [2]. - CITIC Securities reported a revenue of 74.83 billion yuan for 2025, a year-on-year increase of 28.75%, and a net profit attributable to shareholders of 30.05 billion yuan, up 38.46% [2]. - China Merchants Securities achieved a total revenue of 24.9 billion yuan and a net profit of 12.3 billion yuan for 2025, both showing growth [3]. - Everbright Securities reported a revenue of 10.863 billion yuan, a 13.18% increase, and a net profit of 3.729 billion yuan, up 21.92% [3]. - Guotai Junan is expected to achieve a net profit of 27.53 billion to 28.01 billion yuan, reflecting a year-on-year growth of 111% to 115% [3]. Group 2: Performance of Small and Medium-sized Securities Firms - Smaller securities firms are demonstrating significant growth resilience through differentiated development based on niche markets and regional advantages [4]. - Huaxi Securities anticipates a net profit of 1.27 billion to 1.65 billion yuan for 2025, representing a year-on-year increase of 74.46% to 126.66% [4]. - Xiangcai Securities expects a substantial net profit growth of 266.4% to 403.8% due to significant increases in wealth management and proprietary business [4]. - Guolian Minsheng is projected to achieve a net profit of 2.008 billion yuan, reflecting a growth of approximately 406% [4]. Group 3: Market Trends and Future Outlook - The overall market activity in 2025 is expected to significantly benefit securities firms, with a total trading volume in the Shanghai and Shenzhen markets reaching 413.78 trillion yuan, marking a historical high [7]. - The average daily trading volume has set a new record, and the margin trading balance reached 2.54 trillion yuan, a 36% year-on-year increase, indicating a recovery in investor confidence [7]. - Analysts remain optimistic about the securities sector's future performance, with expectations of continued growth driven by favorable policies and market conditions in 2026 [7].