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。 GF SECURITIES CO., LTD. 廣發証券股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1776） 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條刊發。 根據中華人民共和國的有關法例規定，廣發証券股份有限公司（「本公司」）在深圳 證券交易所網站( http://www.szse.cn )刊發的《廣發証券股份有限公司2025年面向專 業投資者公開發行公司債券（第三期）（品種一）（續發行）發行價格公告》。茲載列 如下，僅供參閱。 承董事會命 廣發証券股份有限公司 林傳輝 广发证券股份有限公司（以下简称"发行人"）面向专业机构投资者公开发 行面值不超过 200 亿元（含）的公司债券已获得中国证券监督管理委员会证监许 可〔2025〕1214 号文同意注册。 董事長 中國，廣州 2025年8月22日 於本公告日期，本公司董事會成員包括執行董事林傳 ...

Group 1 - The core viewpoint of the report is that the 2C securities IT business is showing unexpected resilience, with potential valuation recovery space being twice that of the brokerage sector, driven by recent market activity and margin trading balance exceeding 2 trillion yuan [1] - The 2C securities IT sector is primarily divided into two categories: 2C, which targets retail users, and 2B, which sells and iterates system products to brokerages. The report suggests that 2C companies may outperform 2B companies in the current market environment [1][2] - Historical analysis indicates that during previous brokerage market rallies, the returns of leading 2C securities IT companies were generally double that of the brokerage index, and current valuations have not yet reached historical multiples [1][4] Group 2 - The 2C securities IT business includes traditional brokerage services, customer acquisition advertising, value-added telecom services, and advisory services, with the latter two often overlapping [2] - The report highlights three elastic business categories: hidden customer acquisition potential leading to increased advertising revenue, value-added services contributing to short-term elasticity, and brokerage services linked to market trading volume [3] - Historical data from significant bull markets shows that the current valuations of most 2C securities IT companies have not yet reached their one-year averages, indicating potential for further valuation increases as market liquidity grows [4]

关于延长广发证券股份有限公司 簿记建档时间的公告 广发证券股份有限公司（以下简称"发行人"）面向专业投资者公开发行面 值总额不超过人民币 200 亿元（含）的公司债券已获得中国证券监督管理委员会 证监许可〔2025〕1214 号文注册。 根据《广发证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第 三期）（品种一）（续发行）发行公告》，发行人和主承销商于 2025 年 8 月 22 日 （第三期） （品种一）（续发行） 考虑到簿记建档当日市场情况，经发行人和簿记管理人协商一致，决定延长 本期续发行债券发行时间，将簿记建档结束时间由 2025 年 8 月 22 日 18:00 延长 至 2025 年 8 月 22 日 19:00。 发行人：广发证券股份有限公司 年 月 日 （本页无正文，为《关于延长广发证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第三期） （品种一） （续发行）簿记建档时间的公告》之盖章页） 特此公告。 （以下无正文） （本页无正文，为《关于延长广发证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第三期） （品种一） （续发行）簿记建档时间的公告 ...

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。 GF SECURITIES CO., LTD. 廣發証券股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1776） 承董事會命 廣發証券股份有限公司 林傳輝 董事長 中國，廣州 2025年8月22日 於本公告日期，本公司董事會成員包括執行董事林傳輝先生、秦力先生、孫曉燕 女士及肖雪生先生；非執行董事李秀林先生、尚書志先生及郭敬誼先生；獨立非 執行董事梁碩玲女士、黎文靖先生、張闖先生及王大樹先生。 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條刊發。 根據中華人民共和國的有關法例規定，廣發証券股份有限公司（「本公司」）在深圳 證券交易所網站( http://www.szse.cn )刊發的《關於延長廣發証券股份有限公司2025 年面向專業投資者公開發行公司債券（第三期）（品種一）（續發行）簿記建檔時間的 公告》。茲載列如下，僅供參閱。 关于延长广发证券股 ...

关于延长广发证券股份有限公司 2025 年面向专业投资者公开发行公司债券 （第三期）（品种一）（续发行） 簿记建档时间的公告 广发证券股份有限公司（以下简称"发行人"）面向专业投资者公开发行面 值总额不超过人民币 200 亿元（含）的公司债券已获得中国证券监督管理委员会 证监许可〔2025〕1214 号文注册。 根据《广发证券股份有限公司 2025 年面向专业投资者公开发行公司债券（第 三期）（品种一）（续发行）发行公告》，发行人和主承销商于 2025 年 8 月 22 日 15:30-18:00 以簿记建档的方式向网下专业机构投资者进行价格询价。 考虑到簿记建档当日市场情况，经发行人和簿记管理人协商一致，决定延长 本期续发行债券发行时间，将簿记建档结束时间由 2025 年 8 月 22 日 18:00 延长 至 2025 年 8 月 22 日 19:00。 特此公告。 （以下无正文） （本页无正文，为《关于延长广发证券股份有限公司 2025 年面向专业投资者公 开发行公司债券（第三期）（品种一）（续发行）簿记建档时间的公告》之盖章页） 发行人：广发证券股份有限公司 年 月 日 主承销商：国泰海通证券股份有限 ...

Core Viewpoint - The securities sector is experiencing a significant rally, with major indices showing strong upward movement, indicating a robust market atmosphere and potential for continued growth in the sector [1]. Group 1: Market Performance - As of 14:30, the CSI All Share Securities Company Index rose by 3.1%, and the CSI 300 Non-Bank Financial Index increased by 2.7% [1]. - Notable stocks include Xinda Securities and Everbright Securities, which hit the daily limit, while GF Securities surged over 6% [1]. Group 2: User Engagement - In July, the monthly active users of securities service applications reached 167 million, reflecting a month-on-month increase of 3.36% from 161 million in June, which had a growth of 0.65% [1]. Group 3: Analyst Insights - Huatai Securities suggests that the current yield on equity assets is steadily increasing, with resident funds gradually entering the market, indicating optimism about the sustainability of market growth [1]. - The securities sector is viewed as undervalued and underweighted, entering a new phase of performance and valuation recovery in the current market environment [1]. Group 4: Investment Opportunities - The CSI All Share Securities Company Index focuses on leading securities firms, reflecting the overall performance of the A-share securities industry [1]. - The CSI 300 Non-Bank Financial Index consists of 27 stocks from capital markets, other financial sectors, and the insurance industry, with a significant proportion from the securities and insurance sectors [1]. - Securities ETFs, such as E Fund (512570) and Securities Insurance ETF (512070), track these indices, providing investors with opportunities to capitalize on the securities sector [1].

Group 1 - A-share brokerage stocks strengthened in the afternoon, with notable gains in several companies [1] - Everbright Securities and Xinda Securities reached the daily limit, while GF Securities rose over 6% [1] - Huaxin Securities increased by over 5%, and China Galaxy Securities saw a rise of over 4% [1] Group 2 - Dongxing Securities, Huatai Securities, Guosen Securities, Shouchuang Securities, and CITIC Securities all experienced gains of over 3% [1]

Core Viewpoint - Yanjinpuzi (SZ 002847, closing price: 72.33 yuan) announced that it will accept investor research on August 21, 2025, with participation from the company's board and vice president Yang Lingguang [2] Company Summary - For the first half of 2025, Yanjinpuzi's revenue composition is 100% from the food manufacturing industry [2]

Core Viewpoint - Xiamen Jindawei Group Co., Ltd. is issuing convertible bonds to unspecified investors, with a focus on ensuring compliance with relevant regulations and providing accurate information disclosure [1][2]. Group 1: Issuance Details - The convertible bonds will be offered to existing shareholders first, with any remaining bonds available to the public through the Shenzhen Stock Exchange [2]. - The issuance process includes important reminders regarding subscription, payment, and handling of abandoned subscriptions by investors [2][3]. - If the total subscriptions do not reach 70% of the issuance amount, the issuer and underwriter may consider suspending the issuance [3]. Group 2: Subscription and Allocation - The underwriter will assume responsibility for any shortfall in subscriptions, with a base amount of 1,292.3948 million yuan [3]. - The maximum underwriting amount is capped at 30% of the total issuance, which is approximately 387.7184 million yuan [3]. - Investors who abandon their subscriptions will be restricted from participating in new stock offerings for six months [4][5]. Group 3: Lottery Results - A lottery for the allocation of the convertible bonds was conducted, with a total of 213,316 winning numbers announced [5]. - Each winning number allows for the subscription of 10 bonds, equivalent to 1,000 yuan [5].

Core Viewpoint - The credit rating report for GF Securities Co., Ltd. indicates a stable outlook with an AAA rating, reflecting the company's strong competitive position and comprehensive financial services capabilities, despite facing challenges from increasing industry competition and economic fluctuations [3][5][8]. Company Overview - GF Securities Co., Ltd. has a registered capital of approximately 1,530.85 billion RMB as of March 2025, with major shareholders including Jilin Aodong Pharmaceutical Group Co., Ltd. (20.11%), Liaoning Chengda Co., Ltd. (17.97%), and Zhongshan Public Utility Group Co., Ltd. (10.57%) [13][14]. - The company has a diversified business model with a focus on wealth management, investment management, trading, and institutional business, which contributes significantly to its revenue [21][23]. Financial Performance - Total assets for GF Securities were reported at 7,587.45 billion RMB in 2024, with net capital of 958.60 billion RMB [7][11]. - The company achieved a total revenue of 271.99 billion RMB in 2024, with a net profit of 105.45 billion RMB, reflecting a positive growth trend [9][21]. - The average return on equity was 7.18% in 2024, indicating effective capital utilization [9]. Business Segments - Wealth management remains the primary revenue source, contributing 44.17% of total revenue in 2024, followed by investment management at 39.56% [22][23]. - The investment banking segment has shown recovery, with a notable increase in bond underwriting activities, achieving a total of 2,963.22 billion RMB in bond issuance in 2024, a 21.22% increase year-on-year [28][30]. Industry Context - The securities industry is expected to experience a rebound in 2024, driven by favorable policies and regulatory frameworks, although challenges such as market volatility and competition from both domestic and international financial institutions persist [19][20]. - The industry is witnessing a trend towards consolidation, with larger firms gaining a competitive edge, while smaller firms are encouraged to adopt specialized business models [20][19]. Risk Management - The company has implemented robust risk management practices to navigate the challenges posed by economic fluctuations and regulatory changes, ensuring compliance and operational stability [8][19].