国元证券股份有限公司（以下简称公司）于 2025 年 4 月 15 日在巨潮资讯网 （www.cninfo.com.cn）披露公司 2024 年年度报告，将于 2025 年 4 月 29 日披露公 司 2025 年第一季度报告，为便于广大投资者更全面深入地了解公司经营业绩、财务 状况等相关情况，公司定于 2025 年 4 月 30 日（星期三）召开 2024 年度暨 2025 年 第一季度网上业绩说明会，具体情况如下： 一、召开时间与方式 召开时间：2025 年 4 月 30 日（星期三）下午 15:00-16:30 证券代码：000728 证券简称：国元证券 公告编号：2025－017 国元证券股份有限公司 关于召开 2024 年度暨 2025 年第一季度 网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 联系人：朱睿达、郑昊楠 召开方式：网络远程方式 二、公司出席人员 公司董事长沈和付先生，执行委员会主任、总裁胡伟先生，独立董事张本照先 生，执行委员会委员、总会计师司开铭先生，执行委员会委员、董事会秘书李洲峰 先生将出席本次业绩说明会。 ...

Core Viewpoint - The company Meian Sen (300275) has demonstrated rapid growth in its performance, with significant increases in revenue and net profit, supported by the confidence of its controlling shareholder through a planned capital increase [1][3][5]. Financial Performance - In 2024, the company achieved total operating revenue of 500.60 million yuan, a year-on-year increase of 16.05% - The net profit attributable to shareholders reached 55.59 million yuan, up 24.50% year-on-year - The net profit after deducting non-recurring gains and losses was 56.46 million yuan, reflecting a growth of 28.12% - The net cash flow from operating activities was 78.21 million yuan, an increase of 58.76% year-on-year [3]. Industry Trends - The mining industry is experiencing a push towards intelligent construction, with government policies promoting the use of intelligent equipment and robots in mining operations - By 2026, the target replacement rates for intelligent equipment in coal and non-coal mines are set at no less than 30% and 20%, respectively, aiming to reduce underground personnel by over 10% nationwide [4]. Strategic Initiatives - The company plans to raise up to 180 million yuan through a private placement to enhance liquidity and support the development of intelligent mining and robotics applications - The company is focusing on "technology innovation + scenario application" to drive its growth, leveraging its expertise in IoT and data governance to provide comprehensive solutions for intelligent mining [5]. Profit Forecast and Investment Recommendation - The company is expected to maintain a strong growth trajectory, with projected revenues of 609 million yuan, 729 million yuan, and 861 million yuan for 2025, 2026, and 2027, respectively - The net profit attributable to shareholders is forecasted to be 70 million yuan, 86 million yuan, and 106 million yuan for the same years, with corresponding EPS of 0.23, 0.28, and 0.35 yuan per share - The company is rated as a "buy" based on its growth potential and industry positioning [6].

Investment Rating - The investment rating for the company is upgraded to "Buy" [1][6] Core Views - The company achieved a record high in revenue, with a total of 7.848 billion yuan, representing a year-on-year growth of 23.49%, and a net profit of 2.244 billion yuan, up 20.17% year-on-year [3][4] - The growth was primarily driven by self-operated business, which saw a revenue increase of 76.88% to 2.311 billion yuan, and a profit increase of 83.30% to 2.145 billion yuan [5] - The company is focusing on deep integration of technology and business, with significant performance in international operations, where revenue and net profit grew by 38.69% and 123.72% respectively [5] Summary by Sections Financial Performance - The company reported a total revenue of 78.48 billion yuan and a net profit of 22.44 billion yuan for the year, with significant contributions from the fourth quarter [4] - In Q4 alone, revenue and net profit reached 2.793 billion yuan and 674 million yuan, marking year-on-year increases of 96.49% and 52.78% respectively [4] Business Segments - Self-operated business was the main growth driver, while investment banking and credit businesses faced challenges, with revenues declining by 18.92% and 0.32% respectively [5] - The brokerage business saw a net income increase of 18.81% to 1.217 billion yuan, and asset management business revenue rose by 63.26% to 197 million yuan [5] Future Outlook - The company is expected to continue showing strong performance, with projected revenues of 7.932 billion yuan, 8.776 billion yuan, and 10.031 billion yuan for 2025, 2026, and 2027 respectively [6] - The estimated net profits for the same years are projected to be 2.383 billion yuan, 2.703 billion yuan, and 3.269 billion yuan [6]

（本页无正文，为《国元证券股份有限公司 2025 年面向专业投资者公开发行公 司债券（第二期）（品种一）在深圳证券交易所上市的公告》之盖章页） 国元证券股份有限公司 2025 年面向专业投资者公开发行公司债券 国元证券股份有限公司 （第二期）（品种一）在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，国元证券股份有限公司 2025 年 面向专业投资者公开发行公司债券（第二期）（品种一）符合深圳证券交易所债 券上市条件，将于 2025 年 4 月 17 日起在深圳证券交易所上市，并面向专业投资 者中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成 交和协商成交。债券相关要素如下： | 债券名称 | 国元证券股份有限公司 2025 年面向专业投资者公开发 | | --- | --- | | | 行公司债券（第二期）（品种一） | | 债券简称 | 国元 25 02 | | 债券代码 | 524219 | | 信用评级 | 主体 AAA，债项 AAA | | 评级机构 | 中证鹏元资信评估股份有限公司 | | 发行总额（亿元） | 15 | | 债券期限 | 3 年 | | 票面年 ...

国元证券股份有限公司 2025 年面向专业投资者公开发行公司债券 （第二期）（品种二）在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，国元证券股份有限公司 2025 年 面向专业投资者公开发行公司债券（第二期）（品种二）符合深圳证券交易所债 券上市条件，将于 2025 年 4 月 17 日起在深圳证券交易所上市，并面向专业投资 者中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、竞买成 交和协商成交。债券相关要素如下： | 债券名称 | 国元证券股份有限公司 2025 年面向专业投资者公开发 | | --- | --- | | | 行公司债券（第二期）（品种二） | | 债券简称 | 25 国元 03 | | 债券代码 | 524220 | | 信用评级 | 主体 AAA，债项 AAA | | 评级机构 | 中证鹏元资信评估股份有限公司 | | 发行总额（亿元） | 5 | | 债券期限 | 5 年 | | 票面年利率（％） | 2.09 | | 利率形式 | 固定利率 | | 付息频率 | 每年付息一次 | | 发行日 | 2025 年 4 月 11 日-4 月 14 日 | ...

Core Insights - Guoyuan Securities (SZ000728) reported a record high total operating revenue of 7.85 billion yuan for 2024, representing a year-on-year increase of 23.49% [1] - The net profit attributable to shareholders reached 2.24 billion yuan, up 20.17% from the previous year [1] - The company achieved a positive net cash flow from operating activities of 3.25 billion yuan, reversing from a negative position [1] Financial Performance - Total operating revenue for 2024: 7,847,576,377.60 yuan, up from 6,355,056,775.68 yuan in 2023 [1] - Net profit attributable to shareholders: 2,244,381,515.04 yuan, compared to 1,867,698,733.59 yuan in 2023 [1] - Net profit excluding non-recurring gains and losses: 2,232,117,452.51 yuan, a 31.51% increase from 1,697,287,291.04 yuan in 2023 [1] - Other comprehensive income after tax: 1,135,708,768.03 yuan, a significant increase of 166.25% from 426,551,948.53 yuan in 2023 [1] - Basic and diluted earnings per share: 0.51 yuan, up 18.60% from 0.43 yuan in 2023 [1] - Return on equity: 6.26%, an increase of 0.71 percentage points from 5.55% in 2023 [1] Balance Sheet - Total assets at the end of 2024: 172.10 billion yuan, a 29.54% increase from 132.86 billion yuan in 2023 [2] - Total liabilities: 135.04 billion yuan, up 37.43% from 98.26 billion yuan in 2023 [2] - Net assets attributable to shareholders: 37.04 billion yuan, a 7.12% increase from 34.58 billion yuan in 2023 [2] - Net capital: 25.97 billion yuan, reflecting a year-on-year growth of 21.32% [2] Employment and Compensation - Total number of employees at the end of 2024: 3,984, a decrease of 68 from 4,052 in 2023 [3] - Total compensation for directors, supervisors, and senior executives in 2024: 14.63 million yuan, down 18.25% from 17.89 million yuan in 2023 [5] - Highest compensation among executives: 1.38 million yuan for employee director Wang Daqing, while Chairman Shen Hefei received 1.15 million yuan [5]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 9.78 RMB [8][9]. Core Insights - The company's revenue for 2024 reached 7.848 billion RMB, a year-on-year increase of 23%, while the net profit attributable to shareholders was 2.244 billion RMB, up 20% year-on-year [1]. - Investment income was a significant growth driver, with a 123% year-on-year increase, contributing 2.622 billion RMB to the total revenue [2]. - The brokerage business saw a net income of 1.084 billion RMB, a 20% increase year-on-year, with a notable rise in market share for stock and fund transactions [3]. Summary by Sections Financial Performance - The company reported a total revenue of 7.848 billion RMB for 2024, with a net profit of 2.244 billion RMB, reflecting a 20% increase from the previous year [1]. - In Q4 alone, revenue surged to 2.793 billion RMB, marking a 96% year-on-year increase [1]. Investment Income - The investment business generated 2.622 billion RMB in revenue, a remarkable 123% increase year-on-year, which was the core driver of overall performance [2]. Brokerage and Financing - The brokerage business net income reached 1.084 billion RMB, a 20% increase year-on-year, with a market share of 0.65% for stock and fund transactions, up 0.06 percentage points [3]. - The margin financing balance market share reached 1.1%, the highest in five years [3]. Investment Banking and Asset Management - The investment banking segment reported a net income of 202 million RMB, a slight decrease of 2% year-on-year, while asset management net income fell by 15% to 89 million RMB [4]. Earnings Forecast and Valuation - The earnings per share (EPS) for 2025 is projected at 0.57 RMB, with a book value per share (BPS) of 8.89 RMB [5]. - The report anticipates a price-to-book (PB) ratio of 1.1 times for 2025, leading to a target price of 9.78 RMB [5].

证券研究报告 国元证券 (000728 CH) 投资驱动增长，业绩弹性延续 华泰研究 年报点评 2025 年 4 月 15 日│中国内地 证券 公司公布 2024 年业绩，收入 78.48 亿元，同比+23%；归母净利润 22.44 亿元，同比+20%。Q4 单季度收入 27.93 亿元，同比+96%、环比+42%； 归母净利润 6.74 亿元，同比+53%、环比+18%。与业绩快报基本一致，高 于我们此前预期（24 年归母净利润 18.85 亿元），主要系投资类收入同比 +123%，弹性明显。公司一季度业绩快报显示 1Q25 收入同比+38%，归母 净利润同比+38%，财富信用、证券投资交易和投资银行业绩同比增幅较大， 我们预计全年保持稳健增长。维持增持评级。 全年投资类收入同比超翻倍增长 全年投资业务收入 26.22 亿元，同比+123%，是业绩增长的核心驱动力。 2024 年末公司总资产规模为 1721 亿元，同比增长 392 亿元。金融投资规 模大幅扩张，全年增长 269 亿元至 990 亿元，其中其他债权投资规模增长 127 亿元。公司全年固收类投资收入 18.89 亿元，同比大幅增长 80%，是 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 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！ 证券代码：000728 证券简称：国元证券 公告编号：2025-013 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □ 适用 √ 不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 √ 适用 □ 不适用 是否以公积金转增股本 □ 是 √ 否 公司经本次董事会审议通过的利润分配预案为：以现有总股本4,363,777,891股为基数，向全体股东每10 股派发现金红利人民币1.00元（含税），合计派发现金人民币436,377,789.10元（含税），不送红股，不 以公积金转增股本。本预案尚需提交公司2024年度股东大会审议。 董事会决议通过的本报告期优先股利润分配预案 □ 适用 √ 不适用 二、公司基本情况 (一)公司简介 ■ （二）报告期主要业务或产品简介 公司报告期内业绩变化符合行业发展状况，主要业务的经营情况详见 ...

一、营收净利双创新高，核心指标增长显著 2024年，国元证券营业收入达到78.48亿元，同比增长23.49%，创历史新高；归母净利润为22.44亿元， 同比增长20.17%。公司资产规模突破1721亿元，净资本达259.73亿元，ROE提升至6.26% ，财富信用业 务、资产管理业务、自营业务、国际业务收入等多项核心指标实现两位数增长，彰显出强大的发展韧性 与战略执行力。 二、核心业务全面增长，各板块亮点突出 （一）财富信用业务整体增长12.70%，买方投顾转型激活服务动能 经纪业务作为传统优势板块，在2024年净收入达12.17亿元，同比增长18.81%；利润更是同比激增 122.89%，达到2.74亿元。其中，代理买卖手续费净收入为8.04亿元，同比增长29.55%；代理销售金融 产品净收入实现9.18%的正向增长，在上市券商中名列前茅。 2024年，国元证券（000728）秉持"稳中求进、守正创新"的发展基调，围绕"产业研究+产业投资+产业 投行+综合财富管理"核心赛道，展现出强劲的发展动力，交出了一份亮眼的年度成绩单。多项核心业 务实现增长，AI赋能深度融入业务全场景，推动公司数字化转型进入新阶段。 ...