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） 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，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）符合深圳证券 交易所债券上市条件，将于 2025 年 8 月 29 日起在深圳证券交易所与存量债券合 并上市、合并托管，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。存量债券规模为 39 亿元， 续发行面值为 8 亿元。 该债券证券全称为"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）"，证券简称为"25 广发 05"，证券代码为"524393"， 保持不变。 其它具体条款内容见债券续发行募集说明书或续发行发行公告。 （以下无正文） （本页无正文，为《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）在深圳证券交易所上市的公告》之盖章页） 发行人：广发证券股份有限公司 年 月 日 ...

Company Overview - Company Name: Huihan Microelectronics Co., Ltd. [7] - Stock Code: 301600.SZ [7] - IPO Application Date: July 15, 2022 [7] - Listing Date: September 11, 2024 [7] - Listing Board: Shenzhen ChiNext [7] - Industry: Manufacturing of computers, communications, and other electronic devices [7] - IPO Sponsor: GF Securities [7] - IPO Auditing Firm: Rongcheng Accounting Firm [7] Performance Evaluation - Average Days from Application to Listing: 629.45 days; Huihan's listing cycle is 789 days, exceeding the average [3] - Underwriting and Sponsorship Fees: 52.3013 million yuan, with a commission rate of 7.48%, lower than the average of 7.71% [4] - First Day Stock Performance: Stock price increased by 53.69% compared to the issue price [5] - Three-Month Stock Performance: Stock price increased by 208.73% compared to the issue price [6] - Issuance Price-to-Earnings Ratio: 22.57 times, which is 74.12% of the industry average of 30.45 times [9] - Actual Fundraising Amount: Expected and actual fundraising of 699 million yuan [10] Short-term Performance Post-Listing - Revenue Growth: 25.68% year-on-year increase in revenue [11] - Net Profit Growth: 37.54% year-on-year increase in net profit attributable to shareholders [11] - Non-recurring Net Profit Growth: 37.04% year-on-year increase in non-recurring net profit attributable to shareholders [11] - Subscription Rate: Abandonment rate of 0.74% [11] Overall Evaluation - Total Score for IPO Project: 85.5 points, classified as Grade B [11] - Negative Factors Affecting Score: Disclosure quality needs improvement, long listing cycle, repeated applications, and abandonment rate of 0.74% [11]

Group 1 - Some brokerage stocks experienced an increase, with Xinda Securities rising over 5% [1] - Great Wall Securities and Guosheng Jinkong both saw increases of over 3% [1] - Jinlong Co. rose over 2%, while several other securities firms, including GF Securities, First Capital, and Everbright Securities, increased by over 1% [1]

Group 1 - A-share market sees a rise in several brokerage stocks, with Xinda Securities increasing by over 5% [1] - Changcheng Securities and Guosheng Financial Holdings both rise by over 3% [1] - Jinlong Co., Ltd. experiences an increase of over 2% [1] Group 2 - Other notable gains include GF Securities, First Capital, Everbright Securities, Xiangcai Securities, CITIC Securities, Changjiang Securities, Dongwu Securities, Huatai Securities, and Founder Securities, all rising by over 1% [1]

Core Viewpoint - The recent market trend is characterized by a "high growth narrative," where industries or sectors with high growth potential are performing prominently [2][4]. Group 1: Market Trends - Since early April, the A-share market has seen a significant upward trend, driven by macroeconomic factors such as narrow liquidity easing and the appreciation of the RMB [4]. - The market is currently experiencing a "high growth narrative," which typically occurs under conditions of risk phase clearing, ample liquidity, and low opportunity costs for funds [4]. Group 2: Investment Opportunities - The non-bank financial sector, A-share real estate chain, Hong Kong real estate sector, overseas computing power chain, innovative pharmaceuticals, domestic computing power, AI infrastructure, and AI edge applications are identified as key investment opportunities [2][5][6]. - The small-cap stock index has surged over 56% this year, outperforming major indices like the Shanghai Composite Index and Shenzhen Component Index, indicating a trend favoring small-cap stocks [6].

Group 1 - The core viewpoint of the forum is that the current market exhibits a "high growth narrative," where industries with high growth potential are performing exceptionally well [2][3] - The macroeconomic factors driving the recent recovery in equity assets include narrow liquidity easing and the appreciation of the RMB against the USD, with the central bank having implemented two reserve requirement ratio cuts since September 2024 [2][3] - The market has shown a significant increase, with the Wind Micro Index rising over 56% year-to-date, outperforming major indices such as the Shanghai Composite Index and Shenzhen Component Index [4] Group 2 - The market trend continues to favor small-cap stocks, reflecting a diverse industrial landscape [5] - The outlook for the A-share market is optimistic, with limited downside risks due to central bank support and increasing insurance fund allocations [5] - Investment opportunities are concentrated in four key areas: non-bank financials, A-share and Hong Kong real estate chains, overseas computing power chains and innovative pharmaceuticals, as well as domestic AI infrastructure and applications [5]

Core Viewpoint - The recent market trend is characterized by a "high growth narrative," where industries or sectors with high growth potential are performing exceptionally well [1][2]. Group 1: Macroeconomic Analysis - The recent rally in A-shares is driven by factors such as narrow liquidity easing and the appreciation of the RMB against the USD [1]. - Since September 2024, the central bank has implemented two reserve requirement ratio cuts, contributing to a relatively loose narrow liquidity environment [1]. - The depreciation of the USD since April has led to a favorable performance of emerging market currencies, with the RMB showing a one-sided upward trend against the USD [1][2]. Group 2: Market Trends and Asset Performance - As of August 27, the Wind micro-index has surged over 56% this year, outperforming major indices like the Shanghai Composite Index and Shenzhen Component Index [2]. - The trend of small-cap stocks outperforming continues, reflecting a diverse industrial landscape [2][3]. Group 3: Investment Opportunities - The market is expected to have limited downside risk, supported by the central bank's commitment to provide sufficient re-lending support when necessary [3]. - Key investment directions include: 1. Non-bank financial sectors, including financial IT, brokerage, and insurance [3]. 2. A-share real estate chain and Hong Kong real estate sectors from a low-position perspective [3]. 3. Overseas computing power chains and innovative pharmaceuticals [3]. 4. Domestic AI infrastructure and applications, which are still in the process of industrial expectation recovery [3].

Company Bond Information - The company has issued two bonds: 24 Yuntong 01 and 25 Guangdian Yuntong K1, with provisions for interest payments and redemption on the first trading day without additional interest during the extension period [1][2] Credit Rating Agency Change - The company has appointed a new credit rating agency, United Credit Rating Co., Ltd., to adapt to market changes and improve its operational development [3][4] - The previous credit rating agency, Guangzhou Pushe Credit Evaluation Co., Ltd., will continue its services without impact from the new appointment [4][5] - The new credit rating agency has completed the necessary regulatory filings and has not faced any investigations or penalties in the past year [4] Ongoing Rating Arrangements - The new credit rating agency will conduct periodic follow-up ratings during the validity period of the credit rating report, adjusting ratings as necessary based on the company's credit status [4][5] Measures Taken by the Trustee Manager - The trustee manager, GF Securities, is committed to protecting the interests of bondholders and ensuring compliance with information disclosure obligations [5] - GF Securities will closely monitor the company's developments and any significant matters affecting bondholders [5]

广发证券股份有限公司 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 由广发证券股份有限公司（以下简称"本公司"）发行的广发证券股份有限 公司 2022 年面向专业投资者公开发行公司债券（第四期）（以下简称"本期债 券"）将于 2025 年 8 月 29 日支付 2024 年 8 月 29 日至 2025 年 8 月 28 日期间 （最后一个计息年度）的利息及其本金。为确保付息兑付工作的顺利进行，现将 有关事宜公告如下： 一、本期债券基本情况 债券（第四期） 债券代码：148041 债券简称：22 广发 10 三、本期债券兑付兑息债权登记日及兑付兑息日 四、本期债券兑付兑息对象 票面利率为 2.60%。 定节假日或休息日，则顺延至其后的第 1 个交易日，顺延期间付息款项不另计利 息）。 券登记机构的有关规定统计债券持有人名单，本息支付方式及其他具体安排按照 债券登记机构的相关规定办理。 《广发证券股份有限公司 2025 年度公开发行公司债券跟踪评级报告》（编号：信 评委函字[2025]跟踪 0158 号），公司主体信用等级为 AAA，评级展望为稳定； ...

2025年8月27日，发行人和主承销商在网下向专业机构投资者进行了票面利率询价，利率询价区间为 1.20%-2.20%。根据网下向专业机构投资者询价结果，经发行人与簿记管理人按照有关规定，在利率询 价区间内协商一致，最终确定本期债券(债券简称："25广D10"，债券代码：524418)票面利率为1.73%。 广发证券(01776)发布公告，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 值余额不超过300亿元(含)的短期公司债券已获得中国证券监督管理委员会证监许可〔2025〕818号文同 意注册。广发证券股份有限公司2025年面向专业投资者公开发行短期公司债券(第八期)(以下简称"本期 债券")计划发行规模为不超过50亿元(含)。 ...