Core Insights - The company reported a revenue of 6.038 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 201.17% [1] - The net profit reached 1.763 billion yuan, showing a significant year-on-year increase of 345.30% [1] - The basic earnings per share (EPS) stood at 0.31 yuan [1] Financial Performance - Revenue for the first three quarters: 6.038 billion yuan, up 201.17% year-on-year [1] - Net profit: 1.763 billion yuan, up 345.30% year-on-year [1] - Basic EPS: 0.31 yuan [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 如下公告已於上海證券交易所網站刊發，僅供參閱。 特此公告。 承董事會命 國聯民生證券股份有限公司 董事長 顧偉 中國江蘇省無錫市 2025年10月30日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 高偉先生、郭春明先生及徐慧敏女士。 国联民生证券股份有限公司 廉洁从业管理办法 第一章 总 则 第一条（目的及依据） 为健全公司内控体制建设，加 强公司及全体员工廉洁从业管理，强化企业文化建设，保 护投资者合法权益，根据《证券法》《证券公司监督管理 条例》、中国证监会发布的《证券期货经营机构及其工作 人员廉洁从业规定》《证券基金经营机构董事、监事、高 级管 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 董事會換屆選舉 國聯民生證券股份有限公司（「本公司」）第五屆董事會（「董事會」）任期屆滿，董事會 於2025年10月30日召開第五屆董事會第二十九次會議，審議通過（其中包括）《關於提 名公司第六屆董事會非獨立董事候選人的議案》及《關於提名公司第六屆董事會獨立 董事候選人的議案》。 本公司董事會同意提名下列人員為第六屆董事會非獨立董事候選人（不含職工董 事）：提名葛小波先生為執行董事候選人，提名顧偉先生、周衛平先生、吳衛華先生 和楊振興先生為非執行董事候選人，任期三年，自股東大會審議通過之日起計算； 本公司董事會同意提名高偉先生、郭春明先生和徐慧敏女士為公司第六屆董事會獨 立非執行董事候選人，任期三年（連續任職不得超過六年），自股東大會審議通過之 日起計算。 1 上述候任獨立非執行董事各自均已確認，於本公告日期，(i)彼等符合與香港聯合交 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥2,026,903,912.14, representing a year-on-year increase of 120.55%[3] - The total profit for the third quarter was ¥811,342,079.47, showing a year-on-year growth of 103.93%[3] - The net profit attributable to shareholders for the third quarter was ¥635,504,516.56, an increase of 106.24% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥602,342,572.58, reflecting a decrease of 96.23% year-on-year[3] - The company reported a basic earnings per share of ¥0.11 for the third quarter, with a year-to-date figure of ¥0.31, reflecting a 121.43% increase[4] - Total operating revenue for the first three quarters of 2025 reached ¥6,038,106,644.30, a significant increase from ¥2,004,892,871.86 in the same period of 2024, representing a growth of approximately 201.5%[20] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥1,762,737,381.05, compared to ¥395,852,452.20 in 2024, marking an increase of about 345.5%[21] - The basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.31, compared to ¥0.14 in 2024, reflecting an increase of approximately 121.4%[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥189,324,970,981.32, which is a 94.76% increase compared to the end of the previous year[4] - The total liabilities of the company amounted to ¥136,797,889,132.39, up from ¥78,260,127,254.77 in the previous year, reflecting a growth of approximately 74.7%[18] - The total liabilities of the company as of September 30, 2025, were CNY 82,615,563,123.50, compared to CNY 77,047,868,352.91 at the end of 2024, representing an increase of approximately 7.0%[26] - The total assets of the company as of September 30, 2025, amounted to CNY 132,973,494,659.55, up from CNY 95,138,069,572.84 at the end of 2024, reflecting a growth of approximately 39.7%[25] Cash Flow - The company reported a net cash flow from financing activities of ¥1.55 billion, a significant turnaround from a negative cash flow of ¥1.21 billion in the previous year[11] - The company reported a net cash outflow from operating activities of ¥1,929,752,746.25 for the first three quarters of 2025, contrasting with a net inflow of ¥12,977,293,226.32 in the same period of 2024[22] - Investment activities generated a net cash inflow of ¥23,812,546,258.44 in the first three quarters of 2025, compared to ¥2,184,121,280.70 in 2024, indicating a substantial increase in investment returns[22] - The net cash flow from financing activities was CNY 1,554,458,012.22, a turnaround from a negative cash flow of CNY -1,208,618,564.39 in the previous year[24] - Cash inflow from financing activities totaled CNY 9.31 billion, an increase from CNY 7.45 billion in the previous year[31] Shareholder Information - Total number of common shareholders at the end of the reporting period was 91,934[13] - The largest shareholder, Wuxi Guolian Development (Group) Co., Ltd., holds 1,355,626,560 shares, representing 23.86% of total shares[13] - The top 10 shareholders collectively hold 38.52% of the company’s shares[14] Investment and Income - The significant growth in performance is attributed to the company's proactive market engagement and the inclusion of Minsheng Securities Co., Ltd. in the financial statements[3] - Fee and commission income surged by 145.34% to ¥2.91 billion, driven by increased brokerage and investment banking revenues[10] - Investment income improved to ¥2.80 billion, a notable recovery from a loss of ¥1.13 billion in the prior year[10] - The company's investment income for the first three quarters of 2025 was CNY 1,698,027,531.26, a significant improvement from a loss of CNY -1,263,983,681.97 in the same period of 2024[27] Goodwill and Derivatives - The goodwill increased to ¥14.07 billion, reflecting a 1,131.59% rise due to newly consolidated subsidiaries[9] - Derivative financial assets decreased by 53.51% to ¥429.17 million, primarily due to changes in the scale and fair value of derivative financial instruments[9]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 關於修訂《公司章程》及其附件並取消公司監事會的公告 國聯民生證券股份有限公司（「本公司」）於2025年10月30日召開第五屆董事會（「董事 會」）第二十九次會議審議通過《關於修訂〈公司章程〉及其附件的議案》《關於取消公 司監事會的議案》，召開第五屆監事會（「監事會」）第二十一次會議審議通過《關於取 消公司監事會的議案》。鑒於《到境外上市公司章程必備條款》已廢止、新修訂的《中 華人民共和國公司法》（「《公司法》」）已施行，本公司根據《中華人民共和國證券法》、 中國證券監督管理委員會《證券基金經營機構董事、監事、高級管理人員及從業人員 監督管理辦法》《上市公司獨立董事管理辦法》《上市公司章程指引》《上市公司監管 指引第3號－上市公司現金分紅》、本公司股票上市地上市規則以及無錫市人民政府 國有資產監督管理委員會《市屬企業公司章程指引》等有關法律 ...

国联民生证券股份有限公司 廉洁从业管理办法 第一章 总 则 第一条（目的及依据） 为健全公司内控体制建设，加 强公司及全体员工廉洁从业管理，强化企业文化建设，保 护投资者合法权益，根据《证券法》《证券公司监督管理 条例》、中国证监会发布的《证券期货经营机构及其工作 人员廉洁从业规定》《证券基金经营机构董事、监事、高 级管理人员及从业人员监督办法》及《关于加强注册制下 中介机构廉洁从业监管的意见》、中国证券业协会发布的 《证券经营机构及其工作人员廉洁从业实施细则》及《证 券公司董事、监事、高级管理人员及从业人员管理规 则》，结合公司实际，制定本办法。 第二条（基本定义） 本办法所称廉洁从业，是指公司 及全体员工在开展证券期货业务及相关活动中，严格遵守 法律法规、中国证监会的规定和行业自律规则，遵守社会 公德、商业道德、职业道德和行为规范，公平竞争，合规 经营，忠实勤勉，诚实守信，不直接或者间接向他人输送 不正当利益或者谋取不正当利益。 第三条（管理目标和总体要求）公司董事会明确廉洁 从业管理目标和总体要求是牢固树立正确的廉洁从业理 1 念，将廉洁从业融入企业文化之中；建立健全涵盖所有业 务及各个环节的廉洁从业内 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 如下公告已於上海證券交易所網站刊發，僅供參閱。 特此公告。 承董事會命 國聯民生證券股份有限公司 董事長 顧偉 中國江蘇省無錫市 2025年10月30日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 高偉先生、郭春明先生及徐慧敏女士。 证券代码：601456 证券简称：国联民生 公告编号：2025-065 号 国联民生证券股份有限公司 第五届监事会第二十一次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 国联民生证券股份有限公司（以 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 如下公告已於上海證券交易所網站刊發，僅供參閱。 國聯民生證券股份有限公司 董事長 顧偉 中國江蘇省無錫市 2025年10月30日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 高偉先生、郭春明先生及徐慧敏女士。 特此公告。 承董事會命 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。 证券代码：601456 证券简称：国联民生 公告编号：2025-064 号 国联民生证券股份有限公司 第五届董事会第二十九次会议决议公告 一、董事会会议召开情况 国联民生证券股份有限公司（以 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥2,026,903,912.14, representing a year-on-year increase of 120.55%[6] - Total profit for the third quarter was ¥811,342,079.47, up 103.93% compared to the same period last year[6] - Net profit attributable to shareholders was ¥635,504,516.56, reflecting a growth of 106.24% year-on-year[6] - Total operating revenue for the first three quarters of 2025 reached RMB 6,038,106,644.30, a significant increase from RMB 2,004,892,871.86 in the same period of 2024, representing a growth of approximately 201.5%[36] - Net profit for the first three quarters of 2025 was RMB 1,779,118,232.20, compared to RMB 401,862,636.67 in 2024, marking an increase of about 342.5%[37] - The company reported a net profit of ¥1,288,091,746.41 for the first three quarters of 2025, up from ¥247,607,210.87 in 2024, reflecting a growth of approximately 419.5%[51] - Total comprehensive income for the first three quarters of 2025 was RMB 2,356,872,355.22, up from RMB 1,004,037,342.32 in 2024, reflecting a growth of approximately 134.3%[38] - Total comprehensive income for the first three quarters of 2025 was ¥1,171,382,001.31, compared to ¥852,697,167.46 in 2024, indicating an increase of about 37.4%[54] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥189,324,970,981.32, an increase of 94.76% from the previous year[8] - The equity attributable to shareholders increased to ¥52,020,192,877.88, marking a significant rise of 179.91% year-on-year[8] - The company's total assets as of September 30, 2025, amount to 189,324,970,981.32 RMB, a significant increase from 97,208,143,600.76 RMB at the end of 2024[31] - The total liabilities as of September 30, 2025, are 136,797,889,132.39 RMB, compared to 78,260,127,254.77 RMB at the end of 2024[32] - The company’s total liabilities and shareholders' equity increased significantly, with total liabilities reaching RMB 136,797,889,132.39 in 2025 compared to RMB 78,259,127,254.77 in 2024[33] - The total liabilities as of September 30, 2025, were ¥82,615,563,123.50, compared to ¥77,047,868,352.91 at the end of 2024, indicating an increase of approximately 7.3%[48] Cash Flow - The net cash flow from operating activities for the year-to-date period was negative at -¥1,929,752,746.25, a decline of 114.87% compared to the previous year[6] - Net cash flow from operating activities for the first three quarters of 2025 was negative at RMB -1,929,752,746.25, a decline from a positive RMB 12,977,293,226.32 in 2024[41] - Cash inflow from operating activities for the first three quarters of 2025 was ¥6,999,961,050.04, a decrease from ¥19,279,434,552.10 in 2024[58] - Cash flow from investment activities generated a net inflow of ¥3,414,481,871.47 in 2025, compared to ¥2,185,598,976.94 in 2024, marking an increase of approximately 56.2%[59] - The net cash inflow from investment activities in 2025 included ¥22,274,778,919.89 received from other investment-related activities, which was not reported in 2024[42] Shareholder Information - The total number of common shareholders at the end of the reporting period is 91,934[23] - The largest shareholder, Wuxi Guolian Development (Group) Co., Ltd., holds 1,355,626,560 shares, accounting for 23.86% of total shares[23] - The number of A-share shareholders is 91,845, while H-share registered shareholders total 89[28] - The top ten shareholders collectively hold 38.52% of the company's shares, indicating a concentrated ownership structure[26] Investment and Income - The company attributed its performance growth to increased revenues from securities investment, brokerage services, and banking operations[14] - Net interest income reached approximately ¥103.77 million, a significant recovery from a loss of ¥128.62 million in the previous year[22] - Net commission and fee income rose by 145.34% to approximately ¥2.91 billion, driven by increased brokerage and investment banking revenues[22] - Investment income surged to approximately ¥2.80 billion, a significant improvement from a loss of ¥1.13 billion in the previous year[22] - Total investment income for the first three quarters of 2025 was RMB 2,804,351,832.40, compared to a loss of RMB -1,133,818,130.43 in 2024, indicating a significant recovery[36] Cash and Cash Equivalents - Cash and cash equivalents increased by 150.41% to approximately ¥38.59 billion due to the consolidation of newly acquired subsidiaries[20] - Cash and cash equivalents at the end of September 2025 totaled ¥52,285,514,981.49, compared to ¥29,636,650,468.44 at the end of 2024, marking an increase of about 76.2%[42] - The total cash and cash equivalents at the end of the third quarter of 2025 amounted to ¥28,394,316,695.80, slightly down from ¥28,583,447,018.64 in 2024[59]

Core Insights - Minsheng Securities successfully issued a non-public offering of short-term corporate bonds amounting to 1.5 billion yuan, with a one-year maturity and a record low interest rate of 1.80% [1][2] - The bond issuance reflects market recognition of the successful integration of Guolian Minsheng, with a significant narrowing of credit spreads between parent and subsidiary bonds [1][2] - The successful bond issuance supports Minsheng Securities' ability to finance at lower costs, enhancing its market competitiveness and aiding in the smooth advancement of business integration [1][2] Summary by Sections Bond Issuance Details - The bond issuance totaled 1.5 billion yuan with a subscription multiple of 2.83 times, achieving the lowest interest rate for a one-year bond in its history [1] - The interest rate was approximately 10 basis points lower than comparable existing bonds on the issuance date [1] Credit Rating and Market Confidence - Minsheng Securities' credit rating has been upgraded from AA+ to AAA following the successful integration with Guolian Group, leading to a gradual decrease in bond issuance rates [2] - The successful bond issuance demonstrates investor confidence in the new structure of "Guolian Minsheng" and supports the company's goals in various financial sectors [2] Operational Synergy and Future Prospects - The bond issuance was a collaborative effort across different business lines and subsidiaries, showcasing the integration of resources and operational synergy [2] - This successful issuance lays a solid foundation for future resource integration and business collaboration, enhancing the company's comprehensive financial service capabilities [2]