证券代码：600958 证券简称：东方证券 公告编号：2024-031 东方证券股份有限公司 关于召开 2024 年第一次临时股东大会的通知 召开的日期时间：2024 年 10 月 16 日 14 点 00 分 召开地点：上海市中山南路 119 号 15 楼会议室 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。 重要内容提示： 股东大会召开日期：2024年10月16日 本次股东大会采用的网络投票系统：上海证券交易所股东大 会网络投票系统 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第一次临时股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和 网络投票相结合的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 10 月 16 日 至 2024 年 10 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投 票时间为股 ...

Group 1: Company Performance - In 2023, the company achieved a revenue of 17.09 billion CNY and a net profit attributable to shareholders of 2.75 billion CNY [2] - In the first half of 2024, the company reported a revenue of 8.57 billion CNY and a net profit of 2.11 billion CNY, representing a year-on-year growth of 11% [2] Group 2: Business Strategy and Adjustments - The company is undergoing a restructuring of its investment banking business line, which may lead to the absorption of its wholly-owned subsidiary, Dongfang Securities Underwriting and Sponsorship Co., Ltd. [2] - A wealth management committee has been established, and the organizational structure has been adjusted to enhance customer service capabilities and improve business performance [3] Group 3: International Business Growth - The overseas subsidiaries experienced significant revenue growth in the first half of 2024, driven by optimized operational strategies and a balanced development of light and heavy capital businesses [2] - The Hong Kong company aims to continue its transformation and enhance management to promote sustainable business models and improve international business capabilities [2]

Investment Rating - The investment rating for the company is "Outperform the Market" [1][5][16] Core Views - The report highlights significant growth in the company's proprietary trading business in the first half of 2024, while the asset management business has faced considerable pressure [5][6] - The reasonable value range for the company's stock is estimated to be between 9.64 and 11.39 yuan, maintaining the "Outperform the Market" rating [5][6] Summary by Sections Financial Performance - In the first half of 2024, the company achieved operating revenue of 8.57 billion yuan, a year-on-year decrease of 1.4%, while net profit attributable to shareholders was 2.11 billion yuan, an increase of 11.0% [5] - The second quarter saw operating revenue of 4.96 billion yuan, up 16.5% year-on-year and 37.4% quarter-on-quarter, with net profit of 1.23 billion yuan, reflecting a year-on-year increase of 158.8% and a quarter-on-quarter increase of 38.2% [5] Business Segments - Brokerage business revenue decreased by 28.7% year-on-year to 1.05 billion yuan, accounting for 12% of total revenue, amid a declining market [5] - The company’s investment income (including fair value changes) reached 2.27 billion yuan in the first half, a year-on-year increase of 49.2% [6] Asset Management - Asset management revenue fell by 38.1% year-on-year to 710 million yuan, primarily due to a decline in the scale and management fee rates of actively managed equity products [6] - The total asset management scale was 224.9 billion yuan, down 4.6% from the beginning of the year [6] Market Position - The company ranked 6th in bond underwriting with a scale of 211.2 billion yuan, while equity underwriting saw a significant decline of 60.7% year-on-year [5][6] - The company has a strong pipeline with 10 IPO projects in reserve, ranking 12th in the market [5] Future Projections - The expected EPS for 2024-2026 is projected to be 0.42, 0.47, and 0.51 yuan respectively, with BVPS of 8.76, 9.02, and 9.31 yuan [6][11]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 本月底法定/註冊股本總額： RMB 8,496,645,292 截至月份: 2024年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 東方證券股份有限公司 呈交日期: 2024年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600958 | 說明 | 上海證券交易所 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,469,482,864 RMB | | | 1 RMB | | 7,469,482,864 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 7,469,482,864 RMB | | | 1 RMB | | 7,469 ...

二、自 2024 年 9 月 2 日起，东方投行存量客户与业务整体迁移 并入公司，东方投行承接的投资银行业务项目均由公司继续执行，东 方投行对外签署的协议均由公司继续履行，东方投行全部债权及债务 由公司依法承继。 证券代码：600958 证券简称：东方证券 公告编号：2024-030 东方证券股份有限公司 关于吸收合并全资子公司的进展公告 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。 按照既定战略安排，东方证券股份有限公司（以下简称"公司"） 于 2021 年 7 月 20 日召开 2021 年第二次临时股东大会，审议通过了 《关于公司吸收合并全资子公司东方证券承销保荐有限公司的议案》 （详见公司 2021-041 号公告）。2023 年 3 月，公司收到中国证监会 下发的《关于核准东方证券股份有限公司吸收合并东方证券承销保荐 有限公司暨变更业务范围的批复》，公司获准吸收合并全资子公司东 方证券承销保荐有限公司（以下简称"东方投行"）（详见公司2023-004 公告）。 根据中国证监会批复要求，公司有序推进吸收合并工作，现就 ...

Investment Rating - The investment rating for Dongfang Securities is "Buy" (maintained) [1] Core Views - The company's performance is supported by investment income and cost reduction, with a focus on deepening the transformation towards buy-side advisory services [1][2] - The current stock price reflects a valuation with a safety margin, corresponding to a price-to-book ratio (PB) of 0.9 for 2024-2026 [2] Financial Performance Summary - For H1 2024, the total revenue and net profit attributable to shareholders were 8.57 billion and 2.11 billion yuan, respectively, showing a year-on-year change of -1% and +11% [2] - The annualized return on equity (ROE) was 5.3%, an increase of 0.44 percentage points year-on-year, with a leverage ratio of 3.38 times [2] - The company expects net profits of 3.49 billion, 4.01 billion, and 4.76 billion yuan for 2024-2026, with corresponding earnings per share (EPS) of 0.4, 0.5, and 0.6 yuan [2][3] Asset Management Performance - Dongzheng Asset Management reported revenue and net profit of 740 million and 220 million yuan, respectively, down 37% and 43% year-on-year [3] - Huatai Asset Management's revenue and net profit were 2.22 billion and 690 million yuan, down 20% and 13% year-on-year [3] Wealth Management Transformation - The brokerage business net income was 1.05 billion yuan, down 29% year-on-year, primarily due to low trading volumes and reduced commissions [3] - The company is transitioning to a buy-side advisory model, with a fund advisory business scale of approximately 14.6 billion yuan [3] Cost Management and Investment Returns - Investment income (including fair value changes) was 2.49 billion yuan, up 34% year-on-year, with an annualized self-operated investment return rate of 4.1% [3] - Management expenses decreased by 9% year-on-year, reflecting effective cost reduction measures [3]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 12.06 CNY per share, corresponding to a PE ratio of 28.71x and a PB ratio of 1.34x [4][6]. Core Insights - The company has actively seized investment opportunities in the fixed income market, resulting in a significant year-on-year increase in net investment income, which has driven better-than-expected performance. The asset management business is strategically positioning itself in actively managed equity funds, supported by policy initiatives to enhance performance [3][4]. Financial Performance Summary - For the first half of 2024, the company reported revenue and net profit attributable to shareholders of 8.571 billion CNY and 2.111 billion CNY, respectively, reflecting a year-on-year change of -1.42% and +11.04% [4]. - The weighted average ROE increased by 0.22 percentage points to 2.66%, outperforming expectations [4]. - The company has adjusted its earnings per share (EPS) forecasts for 2024-2026 to 0.42 CNY, 0.43 CNY, and 0.45 CNY, respectively, up from previous estimates of 0.33 CNY, 0.37 CNY, and 0.40 CNY [4]. Investment Business Performance - The net income from investment business increased by 33.56% year-on-year to 2.491 billion CNY, contributing 80.98% to the adjusted revenue growth. This growth is attributed to the company's proactive engagement in the fixed income market, with an investment yield increase of 0.19 percentage points to 1.26% [4]. - The company's financial asset scale grew by 2.17% compared to the end of 2023, reaching 200.014 billion CNY, further boosting investment income [4]. Cost Management and Risk Mitigation - The company has effectively controlled business costs, with business and management expenses decreasing by 8.97% to 3.240 billion CNY. Credit impairment losses have significantly reduced by 67.3% to 312 million CNY, contributing to improved performance [4]. Strategic Positioning - In the context of strong policy support for the development of equity public funds, the company's asset management business is strategically expanding into actively managed equity funds, which is expected to enhance performance. The new policies emphasize the development of equity public funds and improving the investment research capabilities of fund companies [4].

Financial Performance - Total revenue for the first half of 2024 reached RMB 12,535,764 thousand, representing a 14.04% increase compared to RMB 10,992,854 thousand in the same period of 2023[57]. - Profit before tax for the first half of 2024 was RMB 2,271,075 thousand, up 5.79% from RMB 2,146,769 thousand in the first half of 2023[57]. - Net profit attributable to shareholders for the first half of 2024 was RMB 2,111,371 thousand, an increase of 11.04% from RMB 1,901,450 thousand in the same period of 2023[57]. - Basic earnings per share for the first half of 2024 was RMB 0.24, a 14.29% increase from RMB 0.21 in the first half of 2023[57]. - In the first half of 2024, the company's operating income was RMB 17.976 billion, and net profit was RMB 3.844 billion, representing declines of 3.8% and 22.45% year-on-year, respectively[103]. Shareholder Returns - The proposed cash dividend for the first half of 2024 is RMB 0.75 per 10 shares, amounting to a total cash dividend of RMB 634,635,147.60, which represents 30.06% of the net profit attributable to the parent company for the first half of 2024[5]. - The company reported a total share capital of 8,496,645,292 shares as of June 30, 2024, with 34,843,324 shares held in the repurchase account not participating in the dividend distribution[5]. Risk Management - The company has implemented a comprehensive risk management system to cover various risks, including compliance, legal, and operational risks[9]. - The company emphasizes that its business is directly affected by market risks, including market volatility and changes in investor sentiment[8]. - The company does not foresee any significant adverse effects from changes in regulatory policies or macroeconomic controls during the reporting period[9]. - The company has established a comprehensive risk management system covering various risk types, including market risk, credit risk, liquidity risk, and operational risk[192]. - The company actively monitors macroeconomic indicators and adjusts investment strategies based on market conditions to mitigate systemic risks[196]. Market Presence and Strategy - The company plans to continue expanding its market presence and developing new products and technologies in the upcoming periods[6]. - The company aims to strengthen its core competitiveness in the industry by enhancing integrated financial services and digital technology capabilities[67]. - The company is actively responding to market changes and enhancing risk control management, with a focus on internal governance capabilities[66]. - The company aims to enhance its liquidity risk management system and improve the digitalization level of capital management in the future[133]. Regulatory Compliance - The financial report for the first half of 2024 has been reviewed by BDO China Shu Lun Pan Certified Public Accountants LLP, ensuring its authenticity and completeness[4]. - The board of directors and supervisory board confirm the accuracy and completeness of the semi-annual report, with no objections raised during the meetings[4]. - The company has committed to maintaining transparency and accuracy in its financial disclosures, adhering to international financial reporting standards[4]. Asset Management - The total asset management scale of the company reached approximately RMB 1.16 trillion by the end of the first half of 2024, with non-monetary public fund scale nearing RMB 500 billion[80]. - The asset management scale of Dongzheng Asset Management reached RMB 224.938 billion as of June 30, 2024, down from RMB 235.754 billion at the end of 2023[74]. - The company has expanded its product matrix to eight major categories, enhancing product layout and actively promoting new businesses such as index enhancement and QDII[77]. Financial Qualifications - The company holds a securities and futures business license approved by the China Securities Regulatory Commission (CSRC) with the approval number 913100001322947763[41]. - The company has qualifications for conducting bond repurchase business, approved by the CSRC with the approval number 2012-20[42]. - The company has qualifications for public offering securities investment fund management business approved by the CSRC with the approval number 2013-1131[44]. Challenges and Market Conditions - The company is facing challenges in the macroeconomic environment, including weak global economic growth and domestic demand issues, while also adapting to new capital market reforms[65]. - The average daily trading volume of the Shanghai and Shenzhen stock markets decreased by 8.59% year-on-year, amounting to RMB 864.257 billion during the reporting period[87]. - The overall trading volume of the A-share market decreased by 9.25% year-on-year during the reporting period, impacting the commission business of the securities research institute[118]. Technology and Innovation - The company is committed to digital transformation and enhancing its service capabilities to support platform-based fund management[77]. - The company has enhanced its AI and blockchain capabilities, launching applications for intelligent research, investment advisory, and Q&A, marking significant progress in innovation[140]. - The company has developed the Super Intelligent Investment Trading Platform (SIMP), covering multiple business scenarios and achieving functions such as bond underwriting and intelligent recommendations, providing comprehensive FICC services[111]. Awards and Recognition - The company received multiple awards, including the "Most Socially Responsible Fund Company Award" from Sina Finance in 2024[76]. - The company was recognized as an "Outstanding Underwriting Institution" by Agricultural Development Bank and "Outstanding Underwriter" by Export-Import Bank during the reporting period[128]. - The company achieved an MSCI ESG rating of AA, making it one of the top-rated brokerages in the industry[152].

Dividend Distribution - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares, totaling approximately 634.64 million RMB, which represents 30.06% of the net profit attributable to shareholders for the first half of 2024[8]. - As of June 30, 2024, the total share capital is 8,496,645,292 shares, with 34,843,324 shares held in the repurchase account excluded from dividend distribution[8]. Risk Management - The company faces various risks including market volatility, regulatory changes, and operational risks, which could adversely affect its business performance[12]. - The company has implemented a comprehensive risk management system to address potential risks such as liquidity, credit, and operational risks[12]. - The company emphasizes the importance of not overly relying on forward-looking statements due to inherent investment risks[9]. - The company is committed to maintaining compliance with relevant laws and regulations to mitigate legal and reputational risks[12]. - The financial report has not been audited, but the management guarantees its accuracy and completeness[10]. Financial Performance - The company's operating revenue for the first half of the year was ¥8,571,472,965.54, a decrease of 1.42% compared to the same period last year[37]. - Net profit attributable to shareholders of the parent company increased by 11.04% to ¥2,111,371,071.52[37]. - The net profit after deducting non-recurring gains and losses rose by 14.81% to ¥2,019,409,250.23[37]. - Total assets at the end of the reporting period were ¥367,546,853,606.84, down 4.21% from the previous year[37]. - Total liabilities decreased by 5.84% to ¥287,125,158,668.10[37]. - The company's net capital at the end of the reporting period was ¥51,703,001,850.76, an increase from ¥50,592,451,966.46[41]. - Basic earnings per share increased by 14.29% to ¥0.24[40]. - The weighted average return on equity rose by 0.22 percentage points to 2.66%[40]. - Other comprehensive income surged by 410.57% to ¥1,071,839,269.28[37]. Business Expansion and Strategy - The report highlights the company's focus on enhancing its operational capabilities and market presence through strategic initiatives[12]. - Orient Securities has expanded its business scope to include online securities trading and asset management services, enhancing its market presence[24]. - The company is actively involved in the development of new financial products and services, including private equity fund management and margin trading[27]. - The firm has established a wholly-owned subsidiary for asset management, indicating a strategic move towards diversifying its service offerings[24]. - The company is positioned to leverage its qualifications to expand into new markets and enhance its competitive edge in the financial sector[24]. - Future outlook includes plans for market expansion and potential mergers and acquisitions to strengthen its market position[27]. Asset Management and Investment - The company’s asset management scale reached CNY 224.939 billion, with public fund management scale at CNY 169.360 billion as of June 30, 2024[67]. - The investment management business generated operating revenue of CNY 993 million, accounting for 10.17% of total revenue, while wealth management and futures business contributed CNY 4.097 billion, making up 41.99%[62]. - The company’s private equity investment arm managed 57 funds with a total management scale of approximately RMB 18.07 billion, with 139 active projects totaling RMB 7.68 billion[81]. - The company’s financing business grew by 10.36% despite a market decline, with a financing balance of RMB 22.6 billion, increasing by 9.04% from the beginning of the year[96]. - The company’s digital finance initiatives are aligned with national strategies, focusing on the integration of digital economy and real economy, and enhancing financial services[145]. Compliance and Governance - The company maintains a strong governance structure and compliance system, continuously improving its internal control management[150]. - The company has effectively strengthened its compliance and risk management framework, with no major violations or risk events reported during the period[155]. - The company has achieved an MSCI ESG rating of AA, one of the highest ratings in the industry, reflecting its commitment to ESG principles[156]. Market Trends and Challenges - The company operates in a challenging economic environment influenced by macroeconomic and monetary policies, which could impact its operations[11]. - The average daily trading volume of the A-share market decreased by 8.59% year-on-year to RMB 864.26 billion during the reporting period[85]. - The futures market saw a total trading volume of 3.5 billion contracts, a year-on-year decrease of 12%, while the total trading value was RMB 282 trillion, an increase of 7%[99]. Financial Technology and Innovation - The company is actively enhancing its financial technology capabilities and promoting the integration of financial technology into its operations[169]. - The company’s AI and blockchain platforms have expanded innovative capabilities, with AI models deployed for intelligent research reports and investment advisory applications[147]. Internationalization - The company’s Singapore subsidiary opened in March 2024, marking a significant milestone in its internationalization strategy[75]. - The company’s overseas client coverage exceeded 300, with a trading volume of RMB 313.3 billion, reflecting a 15% year-on-year growth[108].

证券代码：600958 证券简称：东方证券 公告编号：2024-025 东方证券股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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。 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 8 月 30 日(星期五)15:00-16:30 会议召开时间：2024 年 8 月 30 日(星期五)15:00-16:30 会议召开方式：视频和网络互动 会议召开地点：上海证券交易所上证路演中心（网址：http s://roadshow.sseinfo.com/） 问题征集方式：投资者可于 2024 年 8 月 23 日(星期五)至 8 月 29 日(星期四)16:00 前登录上证路演中心网站首页点击"提问预 征集"栏目或通过公司邮箱 ir@orientsec.com.cn 进行提问。公司将 在说明会上对投资者普遍关注的问题进行回答。 东方证券股份有限公司（以下简称"公司"）拟于 2024 年 8 月 30 日发布公司 2024 年半年度报告。为便于广大投资者更全面深入地 了解 ...