证券代码：600958 证券简称：东方证券 公告编号：2025-033 东方证券股份有限公司 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。 ? 每股分配比例 A 股每股现金红利人民币 0.1元（含税） ? 相关日期 股份类别 股权登记日 最后交易日 除权（息）日 现金红利发放日 Ａ股 2025/6/26 － 2025/6/27 2025/6/27 重要内容提示： ? 差异化分红送转：是 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 23 日的2024年年度股东大会 审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结 算有限责任公司上海分公司（以下简称"中国结算上海分公司" ）登记 在册的本公司全体股东。根据《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》等有关规定，公司回购专用证券账户持有的 公司 H 股股东的现金红利发放的具体操作不适用本公告，详情可 参阅公司于 2025 年 5 月 23 日在香港联交所披露易网站（http://www. ...

证券代码：600958 证券简称：东方证券 公告编号：2025-033 东方证券股份有限公司 2024年年度权益分派实施公告 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。 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 23日的2024年年度股东大会 审议通过。 二、 分配方案 重要内容提示： 每股分配比例 A 股每股现金红利人民币 0.1元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/26 | － | 2025/6/27 | 2025/6/27 | 差异化分红送转：是 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结 算有限责任公司上海分公司（以下简称"中国结算上海分公司"）登记 在册的本公司全体股东。根据《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》等有关规定， ...

国浩律师（上海）事务所 关于东方证券股份有限公司 2024 年度差异化分红之专项法律意见书 致：东方证券股份有限公司 国浩律师（上海）事务所（以下简称"本所"）受东方证券股份有限公司（以 下简称"公司"）委托，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股份回购 规则》（以下简称"《回购规则》"）、《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》（以下简称"《监管指引第 7 号》"）、《上海证券交 易所股票上市规则》（以下简称"《上市规则》"）、《上海证券交易所交易规 则》（以下简称"《交易规则》"）等法律、法规和规范性文件以及《东方证券 股份有限公司章程》（以下简称"《公司章程》"）的规定，就公司 2024 年度 利润分配所涉及的差异化权益分派特殊除权除息处理（以下简称"2024 年度差 异化分红"或"本次差异化分红"）相关事项出具本法律意见书。 按照律师行业公认的业务标准、道德规范和勤勉尽责的精神，本所律师依据 本法律意见书出具日以前已发生或存在的事实和现行法律、法规和规范性文件的 规定以及《公司章程》的有关规定发表 ...

东方证券股份有限公司 关于浙江李子园食品股份有限公司 可转换公司债券回售有关事项的核查意见 东方证券股份有限公司（以下简称"东方证券"或"保荐机构"）作为浙江李子 园食品股份有限公司（以下简称"李子园"或"公司"）向不特定对象发行可转换公 司债券的保荐机构，根据《中华人民共和国公司法》《中华人民共和国证券法》 《证券发行上市保荐业务管理办法》 《上海证券交易所股票上市规则》 《上海证券 交易所上市公司自律监管指引第 12 号——可转换公司债券》等法律法规及规范 性文件，对本次李子园可转换公司债券（以下简称"李子转债"）回售有关事项 进行了审慎核查，并出具核查意见如下： 一、 "李子转债"发行上市情况 经中国证券监督管理委员会《关于同意浙江李子园食品股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可20231166 号）核准，公司 向社会公开发行面值总额为 60,000 万元的可转换公司债券，期限 6 年，应募集 资金人民币 60,000 万元，扣除承销保荐费（不含税）90.00 万元，实际收到可转 换公司债券认购资金为人民币 59,910.00 万元。另扣除剩余发行费用（不含税） （中汇会验2 ...

Group 1 - The event organized by Dongfang Securities aimed to enhance investor protection and transparency of listed companies, aligning with the new "National Nine Articles" policy [1] - The event featured a visit to the Guilin production base of Lain Bio, showcasing its advanced technologies and digital management processes in the plant extraction industry [1] - Lain Bio's production line for enzyme-synthesized RebM2 is the first of its kind globally, offering significant advantages over traditional methods, including lower energy consumption and higher raw material utilization [1] Group 2 - The company expects to produce over 1,000 tons of enzyme-synthesized products annually, with an estimated annual output value exceeding 1 billion yuan [1] - During the investor communication session, Lain Bio's secretary emphasized the importance of ongoing dialogue between the company and its investors [3] - Investors expressed increased confidence in Lain Bio's development after witnessing its operations firsthand, highlighting the event's role in enhancing understanding of the plant extraction industry's technological and market potential [3]

Core Viewpoint - The ongoing share buyback trend among listed securities firms indicates a strong market signal regarding undervaluation, confidence in long-term development, and an active optimization of capital structure [1][6]. Group 1: Share Buyback Activities - Zhongtai Securities plans to repurchase shares worth 300 million to 500 million RMB to reduce registered capital, joining other firms in the buyback trend [1]. - As of May 31, 2023, five securities firms had announced buyback plans, with four already executing them, totaling over 1.2 billion RMB [3][5]. - The total amount of buybacks by six firms this year is approximately 1.219 billion RMB [5]. Group 2: Market Signals - The buyback actions from securities firms convey three significant signals: a judgment of undervaluation, confidence in company fundamentals, and an increase in cancellation buybacks reflecting industry optimization [6]. - The buyback trend is seen as a response to external market volatility, with over 200 listed companies, including securities firms, announcing buyback plans to stabilize the market [3]. Group 3: Investment Opportunities - The securities sector has become active, with the Wind Securities Index rising by 4.57% since June 2, although it has decreased by 6.99% since the beginning of the year [9]. - Analysts suggest that the current valuation of the securities sector is attractive, with a low price-to-book ratio and potential for dual improvement in valuation and performance [10]. - The ongoing policy support and liquidity improvements are expected to enhance the sector's performance, with a focus on mergers and acquisitions as a key theme for the industry [11].

Core Viewpoint - The company intends to utilize part of its idle raised funds for cash management to enhance fund efficiency and increase shareholder returns [1][2][5] Fundraising Overview - The company raised a total of RMB 403,490,205.00 through its initial public offering, issuing 20,000,000 shares at a price of RMB 22.92 per share [1] - The total investment amount for the projects funded by the raised capital is RMB 520,000,000, with an adjusted amount of RMB 403,490,200 planned for investment [1] Cash Management Plan - The company plans to use up to RMB 220,000,000 of temporarily idle raised funds for cash management within a 12-month period [2][5] - The cash management products will be of high safety, good liquidity, and low risk, with a maturity not exceeding 12 months [2] Decision-Making Process - The board of directors approved the cash management plan, ensuring it does not affect the construction of fundraising projects or the company's normal operations [4][5] - The supervisory board also approved the plan, affirming it aligns with regulatory requirements and benefits the company and shareholders [5] Regulatory Compliance - The cash management plan complies with relevant regulations from the Shenzhen Stock Exchange and does not constitute a related party transaction [4][5] - The sponsor institution has verified that the plan adheres to legal and regulatory standards, ensuring no alteration of the intended use of raised funds [5][6]

Core Viewpoint - The recent surge in share buybacks among securities firms is aimed at enhancing investor confidence and stabilizing company value, with multiple firms announcing significant repurchase plans [1][4][8]. Group 1: Buyback Plans - On June 10, Zhongtai Securities announced a share buyback plan with an estimated amount of 300 million to 500 million yuan [1][4]. - Other firms, such as Hongta Securities and Guojin Securities, have also proposed buybacks, with amounts ranging from 100 million to 2 billion yuan and 50 million to 100 million yuan, respectively [4][5]. - As of May 31, Guotai Haitong Securities had repurchased 32.49 million shares, accounting for 0.1843% of its total shares, with a total expenditure of 557 million yuan [5][7]. Group 2: Industry Trends - The trend of buybacks is shifting from stock incentive programs to "cancellation-style buybacks," which aim to reduce registered capital and enhance shareholder returns [8]. - Regulatory support has encouraged this trend, as the government aims to improve the investment value of listed companies [8][9]. - The overall sentiment in the securities sector has improved, with the CSI Securities Index rising by 4.52% in June, reflecting positive market reactions to these buyback initiatives [9][10]. Group 3: Market Impact - The concentrated buyback efforts are expected to create a demonstration effect, potentially leading to a positive resonance across the industry [9]. - Analysts suggest that these buybacks signal strong financial health and commitment from firms, which may stabilize stock prices and restore investor confidence [8][9]. - The ongoing buyback plans and optimized dividend policies are anticipated to enhance the investment attractiveness of the securities sector [9].

Core Viewpoint - The regulatory measures taken against Dongfang Securities' Wuhan Sanyang Road branch highlight ongoing compliance issues within the company and the broader securities industry, reflecting challenges in managing branch operations and employee conduct amid increasing regulatory scrutiny [4][10]. Regulatory Actions - The Hubei Securities Regulatory Bureau announced administrative measures against Dongfang Securities' Wuhan Sanyang Road branch and its former head, Xu Wujun, due to non-compliance with employee conduct regulations [1][4]. - Xu Wujun provided investment advice without being registered as a securities investment advisor and violated company policies by accepting client accounts and assisting third-party operators [4]. - The branch is required to have its head participate in a regulatory discussion by June 9, with records of the incident being added to the securities market integrity archive [4]. Company Performance - Dongfang Securities reported a revenue of 19.19 billion yuan in 2024, a year-on-year increase of 12.29%, and a net profit of 3.35 billion yuan, reflecting a growth rate of 21.66% [9]. - The significant revenue growth was primarily driven by proprietary trading, which saw a 106% increase to 4.926 billion yuan [9]. - However, the brokerage business faced a decline in revenue by 9.7% to 2.511 billion yuan, marking the most significant drop among its main business segments [9]. Industry Context - The compliance issues faced by Dongfang Securities are not isolated, as multiple brokerage firms have received regulatory penalties in 2025 for various violations, including internal control failures and misconduct in brokerage services [10]. - The expansion of brokerage networks has increased the complexity of local management and employee supervision, leading to heightened compliance risks [10]. - The industry is experiencing stricter regulatory scrutiny regarding practices such as "client operation," "unqualified investment advice," and "private entrusted trading," necessitating a balance between operational efficiency and regulatory compliance [10].

Core Viewpoint - Kuaishou's Keling technology and commercialization are showing strong upward momentum, with significant user engagement and revenue growth projected for 2025 [1][2]. Group 1: Technology and User Engagement - Keling's technology is leading in the market, ranking alongside Google's Veo series in video generation capabilities [1]. - In April, Keling's access volume reached 20.2 million, reflecting an 18.7% month-over-month increase [1]. - The commercialization of Keling is accelerating, with expected monthly revenue of 60 to 70 million CNY in Q1 2025, and April and May 2025 monthly revenues exceeding 100 million CNY, marking a tenfold increase [1][2]. Group 2: Product Development and Market Position - The launch of Keling version 2.1 is anticipated to enhance user acquisition and payment growth due to its competitive pricing compared to similar products [3]. - Keling's product capabilities are expanding into multiple scenarios, including partnerships with gaming companies and marketing agencies, showcasing its versatility [4]. Group 3: Financial Stability and Shareholder Returns - Kuaishou's fundamentals remain robust, with a total of 1.9 billion HKD repurchased in 2025, contributing to a shareholder return safety net [5].