Core Viewpoint - The performance of listed securities firms in 2025 is expected to show significant growth, with all 16 firms that have released earnings forecasts indicating positive results, driven by a recovery in the capital market and strategic business developments [1][7][14]. Group 1: Earnings Forecasts - Zhongtai Securities anticipates a net profit of 1.312 to 1.5 billion yuan for 2025, representing a year-on-year increase of 40% to 60%, attributed to a rebound in market activity and growth in wealth management and asset management [3]. - Huazhong Securities projects total revenue of 5.064 billion yuan for 2025, a 30.94% increase, with a net profit of 2.104 billion yuan, up 41.64%, due to enhanced core business efforts and market opportunities [4]. - Guosheng Securities expects a net profit of 210 to 280 million yuan, reflecting a growth of 25.44% to 67.25%, driven by increased revenues in brokerage, investment banking, and futures brokerage [5]. - Founder Securities forecasts a net profit of 3.86 to 4.08 billion yuan, with a growth rate of 75% to 85%, primarily due to increased income from wealth management and subsidiary operations [5]. Group 2: Performance Highlights - CITIC Securities reported a net profit of 30.051 billion yuan for the previous year, a 38.46% increase, maintaining steady growth despite a high base [8]. - Guotai Junan is expected to achieve a net profit of 27.533 to 28.006 billion yuan, with a year-on-year increase of 111% to 115%, leveraging brand advantages and operational synergies post-merger [8]. - The net profit growth rate of Guolian Minsheng Securities is projected at 406%, the highest among peers, indicating strong performance recovery [10]. Group 3: Market Context and Future Outlook - The overall performance of the securities industry is closely linked to the recovery of the capital market, with total trading volume in the Shanghai and Shenzhen markets exceeding 413.78 trillion yuan in 2025, marking a historical high [14]. - Analysts suggest that the securities sector is entering a golden period of dual recovery in valuation and performance, supported by favorable policies and an improving market environment [14]. - The current allocation of active funds in the non-bank sector remains significantly low, indicating potential for increased investment in the securities sector as market conditions improve [15].

Core Viewpoint - The performance of listed securities firms in 2025 is expected to show significant growth, with all 16 firms that have disclosed their earnings forecasts reporting positive results, driven by a recovery in the capital market and increased business activities in wealth management, asset management, and investment trading [1][5]. Group 1: Earnings Forecasts - Zhongtai Securities expects a net profit of 1.312 billion to 1.5 billion yuan for 2025, an increase of 40% to 60% year-on-year, attributed to a rebound in market activity and growth in various business segments [2]. - Huazhong Securities reported a total revenue of 5.064 billion yuan for 2025, a year-on-year increase of 30.94%, with a net profit of 2.104 billion yuan, up 41.64%, due to enhanced core business efforts and market opportunities [3]. - Guosheng Securities anticipates a net profit of 210 million to 280 million yuan for 2025, reflecting a year-on-year growth of 25.44% to 67.25%, driven by increased revenues in brokerage, investment banking, and futures brokerage [4]. - Founder Securities forecasts a net profit of 3.86 billion to 4.08 billion yuan, representing a year-on-year increase of 75% to 85%, primarily due to growth in wealth management and subsidiary business revenues [4]. Group 2: Major Firms' Performance - CITIC Securities reported a net profit of 30.051 billion yuan for the previous year, a year-on-year increase of 38.46%, maintaining steady growth despite a high base [6]. - Guotai Junan is expected to achieve a net profit of 27.533 billion to 28.006 billion yuan for 2025, with a year-on-year increase of 111% to 115%, attributed to brand advantages and improved service systems post-merger [6]. - China Merchants Securities reported a net profit of 12.3 billion yuan, ranking third among the firms [7]. Group 3: Industry Insights - The securities industry is entering a golden period of dual recovery in valuation and performance, supported by a significant rebound in the capital market, with total trading volume exceeding 413.78 trillion yuan in 2025 [11]. - Analysts highlight three main pillars driving growth: resilience in traditional businesses, recovery in investment banking, and the transformation towards internationalization and wealth management [11]. - The current allocation of active funds in the non-bank sector remains significantly low, indicating potential for increased investment in the securities sector as market conditions improve [12].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 408,000万元，同比增长75%到85%；预计归属于母公司所有者的扣除非经常性损益的净利润350,000万 元到377,000万元，同比增长25%到35%。 一、本期业绩预告情况 （一）业绩预告期间 证券代码：601901 证券简称： 方正证券 公告编号：2026-001 方正证券股份有限公司2025年年度业绩预增公告 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。 重要内容提示： ● 本期业绩预告的适用情形：实现盈利，且净利润与上年同期相比上升 50%以上。 ● 公司预计2025年实现归属于母公司所有者的净利润386,000万元到 三、本期业绩预增的主要原因 2025年1月1日至2025年12月31日 （二）业绩预告情况 1、经财务部门初步测算，预计2025年实现归属于母公司所有者的净利润386,000万元到408,000万元，与 上年同期相比将增加165,260万元到187,260万元，同比增长75%到85%。 2、经财务部门初步测算，预计2025 ...

本报记者 周尚伃 作为行业并购重组的标杆，国泰海通2025年预计实现归母净利润275.33亿元至280.06亿元，同比增长111%至115%；预计实 现归母扣非净利润210.53亿元至215.16亿元，同比增长69%至73%。业绩大幅增长的背后，2025年，国泰海通全面提升经营管理 水平，稳中求进、主动作为，平稳高效完成合并交易，有序推动整合融合，充分发挥合并后的品牌优势、规模效应和互补效 应，优化升级零售、机构、企业三大客户服务体系，以提升综合能力实现客户经营"增量扩面、提质增效"，资产规模及经营业 绩创历史新高，财富管理、机构与交易等业务收入同比显著增长，初步实现"1+1＞2"的效果。 从已披露的数据来看，2025年上市券商业绩整体向好，形成了头部券商稳中有进、重组标的爆发增长、中小券商突围发力 的多梯队协同发展格局，高质量发展成效逐步显现。 头部券商业绩稳中有进 2025年，头部券商的规模优势与综合竞争力进一步释放，业绩表现稳中有进。具体来看，中信证券全年实现营业收入748.3 亿元，同比增长28.75%；归母净利润300.51亿元，同比增长38.46%，刷新自身盈利纪录。招商证券与光大证券同样保持稳健 ...

（责任编辑：贺翀 ） 格隆汇1月29日丨方正证券(601901.SH)公布，公司预计2025年实现归属于母公司所有者的净利润 38.6亿元到40.8亿元，同比增长75%到85%；预计归属于母公司所有者的扣除非经常性损益的净利润35 亿元到37.7亿元，同比增长25%到35%。 2025年，在建设金融强国、支持新质生产力、服务经济高质量发展的政策引领下，公司持续贯 彻"快速发展、高效经营、扬长补短"的经营方针，着力提升公司经营质量。报告期内，公司业绩增长的 主要原因系财富管理与子公司业务收入与上年同期相比增加所致。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

证券日报网讯 1月29日，方正证券发布公告称，公司预计2025年实现归属于母公司所有者的净利润 386000万元到408000万元，与上年同期相比将增加165260万元到187260万元，同比增长75%到85%。 （编辑 王雪儿） ...

2025年，在建设金融强国、支持新质生产力、服务经济高质量发展的政策引领下，公司持续贯彻"快速 发展、高效经营、扬长补短"的经营方针，着力提升公司经营质量。报告期内，公司业绩增长的主要原 因系财富管理与子公司业务收入与上年同期相比增加所致。 智通财经APP讯，方正证券(601901.SH)发布2025年年度业绩预增公告，预计2025年实现归属于母公司 所有者的净利润38.6亿元至40.8亿元，同比增长75%到85%。 ...

北京商报讯（记者 李海媛）1月29日，方正证券发布2025年度业绩预增公告，预计2025年实现归属于母 公司所有者的净利润38.6亿元至40.8亿元，同比增长75%至85%；预计归属于母公司所有者的扣除非经 常性损益的净利润35亿元至37.7亿元，同比增长25%至35%。 方正证券指出，报告期内，公司业绩增长的主要原因系财富管理与子公司业务收入与上年同期相比增加 所致。 ...

Earnings Forecasts - Shengyi Electronics expects a net profit of 1.431 billion to 1.513 billion yuan in 2025, an increase of 331.03% to 355.88% year-on-year [1] - Tigermed anticipates a net profit of 830 million to 1.23 billion yuan in 2025, representing a growth of 105% to 204% year-on-year [2] - Shunbo Alloy forecasts a net profit of 210 million to 270 million yuan in 2025, with an increase of 222.96% to 315.23% year-on-year [3] - Jinkong Electric expects a net profit of 155 million to 195 million yuan in 2025, reflecting a growth of 383.21% to 507.9% year-on-year [9] - Baiao Saitu anticipates a net profit of 162 million to 182 million yuan in 2025, with a year-on-year increase of 384.26% to 443.88% [18] - Panjiang Co. expects a net profit of 318 million to 380 million yuan in 2025, representing a growth of 205.30% to 264.83% year-on-year [38] Loss Forecasts - Liaoning Energy predicts a net loss of 273 million to 410 million yuan in 2025, compared to a profit of 202 million yuan in the previous year [5] - Anbotong anticipates a net loss of 114 million to 165 million yuan in 2025, with a revenue decrease of 19.65% to 27.25% [7] - Wantai Bio forecasts a net loss of 330 million to 410 million yuan in 2025, compared to a profit of 106 million yuan in the previous year [12] - Xingyun Co. expects a net loss of 155 million to 230 million yuan in 2025, compared to a loss of 82.44 million yuan in the previous year [20] - Huaxing Co. anticipates a net loss of 800 million to 1.2 billion yuan in 2025, with a reduction in loss compared to 1.67 billion yuan in the previous year [46] New Product Approvals - Hengrui Medicine received acceptance for a new indication application for its innovative drug, combining Carrelizumab and Apatinib for treating unresectable liver cancer [4] - Tianen Kang's subsidiary received a drug registration acceptance notice for Lidocaine and Prilocaine aerosol [31] - Lisheng Pharmaceutical announced that its Aminophylline tablets passed the consistency evaluation for generic drugs [40] Share Buyback Plans - Hengyuan Coal Power plans to repurchase shares with a total amount not less than 200 million yuan and not exceeding 250 million yuan [13] Contract Wins - China Communication Signal Co. won contracts totaling approximately 5.26 billion yuan for 21 important projects in the railway and urban rail transit markets [37]

格隆汇1月29日丨方正证券(601901.SH)公布，公司预计2025年实现归属于母公司所有者的净利润386,000 万元到408,000万元，同比增长75%到85%；预计归属于母公司所有者的扣除非经常性损益的净利润 350,000万元到377,000万元，同比增长25%到35%。 2025年，在建设金融强国、支持新质生产力、服务经济高质量发展的政策引领下，公司持续贯彻"快速 发展、高效经营、扬长补短"的经营方针，着力提升公司经营质量。报告期内，公司业绩增长的主要原 因系财富管理与子公司业务收入与上年同期相比增加所致。 ...