国泰海通证券股份有限公司 关于杭州博拓生物科技股份有限公司 部分首发募投项目节余募集资金永久补充流动资金的核查意 见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作 为杭州博拓生物科技股份有限公司（以下简称"博拓生物"或"公司"）首次 公开发行股票并在科创板上市的保荐机构，根据《上海证券交易所科创板股票 上市规则》《上市公司募集资金监管规则》《上海证券交易所科创板上市公司 自律监管指引第1号——规范运作》等相关规定，对博拓生物部分首发结项募投 项目节余募集资金永久补充流动资金的事项进行了核查，具体情况如下： 一、募集资金基本情况 测平台项目 期三年 合计 89,144.73 73,562.48 29,967.51 - 48,351.45 根据中国证券监督管理委员会（以下简称"中国证监会"）于2021年7月27 日出具的《关于同意杭州博拓生物科技股份有限公司首次公开发行股票注册的 批复》（证监许可〔2021〕2497号），公司获准向社会公开发行人民币普通股 元，扣除发行费用9,196.41万元（不含增值税）后，募集资金净额为82,936.92万 元。上述募集资金到位情况已经中汇会计师事务所（特 ...

Major Events - SMIC is planning to issue A-shares to acquire minority stakes in its subsidiary, with stock suspension starting from September 1, 2025, for up to 10 trading days. The transaction is not expected to constitute a major asset restructuring but is classified as a related party transaction [4] - China Shipbuilding Industry Corporation's A-shares will be delisted on September 5, 2025, with a conversion ratio of 1:0.1339 to China Shipbuilding's A-shares [5] - Kweichow Moutai has completed a share buyback of 3.9276 million shares, totaling 6 billion yuan, which will be used for capital reduction [6][7] Performance Overview - BYD reported a net profit of 15.511 billion yuan for the first half of 2025, a year-on-year increase of 13.79%, with revenue of 371.281 billion yuan, up 23.30% [8] - Wingtech Technology's net profit for the first half of 2025 was 474 million yuan, a significant increase of 237.36%, despite a revenue decline of 24.56% [9] - Pianzaihuang's net profit decreased by 16.22% to 1.442 billion yuan, with revenue down 4.81% [10] - Shanshan reported a net profit of 207 million yuan, up 1079.59%, with revenue growth of 11.78% [11] - China Rare Earth achieved a net profit of 162 million yuan, reversing a loss from the previous year, with revenue growth of 62.38% [12] - China Shipbuilding reported a net profit of 2.946 billion yuan, up 108.59%, with revenue growth of 11.96% [13] - Guotai Junan's net profit surged by 213.74% to 15.737 billion yuan, with revenue growth of 77.71% [15] - China Shenhua's net profit decreased by 12% to 24.641 billion yuan, with revenue down 18.3% [16] - Lattice Semiconductor's net profit increased by 95.41% to 1.159 billion yuan, with revenue growth of 58.17% [17] - Guotou Zhonglu reported a net profit of 25.08 million yuan, up 2149.03%, with revenue growth of 39.68% [18] - Jianfeng Group's net profit increased by 1196.93% to 618 million yuan, despite a revenue decline of 4.42% [19] - OmniVision's net profit for the first half of 2025 was 2.028 billion yuan, up 48.34%, with revenue growth of 15.42% [20] - Haili's net profit increased by 694% to 33.3546 million yuan, with revenue growth of 13.16% [21] - Huaxia Airlines reported a net profit of 251 million yuan, up 859%, with revenue growth of 12.41% [22] - BeiGene turned a profit with a net profit of 450 million yuan, compared to a loss of 287.7 million yuan in the previous year, with revenue growth of 46.03% [24] - China Merchants Bank's net profit was 74.93 billion yuan, a slight increase of 0.25%, with a revenue decline of 1.73% [25] - Agricultural Bank of China reported a net profit of 139.51 billion yuan, up 2.7%, with revenue growth of 0.7% [26] - Bank of China reported a net profit of 117.591 billion yuan, with revenue growth compared to the previous year [27] - Industrial and Commercial Bank of China reported a net profit of 168.103 billion yuan, with slight revenue growth [28] - Bank of Communications reported a net profit of 46.016 billion yuan, up 1.61%, with revenue growth of 0.72% [29] - China Construction Bank's net profit was 162.076 billion yuan, a decrease of 1.37%, with revenue growth of 2.95% [30]

国泰海通半年报解读：合并效应显现，但增长质量存疑 核心要点 •财务表现：营业收入238.72亿元，同比增长77.71%；归属于母公司净利润157.37亿元，同比增长 213.74%；扣非净利润72.79亿元，同比增长59.76% •业务进展：财富管理业务占比最高（40.94%），融 资融券市场份额提升至9.78%行业第一，投行业务证券主承销额排名行业第二 •合并影响：2025年3月14 日完成吸收合并海通证券，资产规模跃升至1.8万亿元，增长72.24% •分红政策：拟每10股派现1.5元， 连同股份回购合计占净利润24.39% •关注点：扣非净利润增速明显低于净利润增速，信用减值损失大幅 增加404.71%，公允价值变动损益转负 合并完成后的规模效应确实显著，但投资者更应关注这种增长的可持续性和质量。 规模跃升背后的真实成色 国泰海通2025年上半年的业绩数据无疑亮眼。营业收入238.72亿元，净利润157.37亿元的数字让人印象 深刻，但仔细分析会发现，这种爆发式增长主要源于3月14日完成的吸收合并海通证券。如果剔除合并 因素，实际的内生增长可能并没有表面数据那么华丽。 更值得注意的是，扣除非经常性损益后 ...

Core Viewpoint - The company intends to continue using part of the temporarily idle raised funds for cash management to enhance fund utilization efficiency and increase shareholder returns while ensuring the normal progress of investment projects and the safety of raised funds [1][4][8]. Summary by Sections 1. Basic Situation of Raised Funds - The company has received approval from the China Securities Regulatory Commission to issue 94,307,847 shares at a price of 29.69 RMB per share, raising a total of approximately 2.79 billion RMB [1]. 2. Investment Projects and Idle Situation - The raised funds will be allocated to projects including the Morocco tire project, with a total investment of 1.2 billion RMB for an annual production capacity of 6 million high-performance tires [2]. 3. Previous Use of Idle Funds for Cash Management - As of June 30, 2025, the balance of temporarily idle raised funds for cash management is 620 million RMB, with 20.45 million RMB remaining in the special account [3]. 4. Current Use of Idle Funds for Cash Management - The company plans to use up to 1 billion RMB of temporarily idle raised funds for cash management, with a usage period of twelve months from the board's approval date [4][5]. 5. Investment Types - The company will invest in highly liquid, safe, and principal-protected financial products, including structured deposits and time deposits [5]. 6. Implementation Method - The cash management decision falls within the board's approval authority, and the management team is authorized to make investment decisions and sign relevant contracts [5][7]. 7. Approval Procedures - The board and supervisory committee have approved the continued use of idle funds for cash management, confirming that it will not affect the normal operation of investment projects or harm shareholder interests [7][8].

人民财讯8月29日电，国泰海通证券研究认为固态电池凭借着在安全性、能量密度等方面的优势，将成 为未来高性能电池重点的发展方向，在消费电池、新能源汽车、低空等领域有着广阔的市场空间。当前 主要分化出了两条主要路线，短期来看氧化物半固态路线相对成熟，和现有电池体系设备兼容度较高， 已产业化落地，有望放量。前瞻布局固态电池及关键材料与设备的企业受益。 ...

Core Viewpoint - The overall decline in corporate profits has narrowed in July, showing a differentiated structure primarily due to profit recovery driven by "anti-involution" policies, supply contraction, price increases, and support from high-end manufacturing demand, while downstream consumer demand remains weak, leading to marginal profit shrinkage in downstream industries [1] Summary by Relevant Categories Corporate Profit Trends - In July, the decline in corporate profits showed signs of narrowing, indicating a potential recovery phase [1] - The recovery is largely dependent on supply-side adjustments and price increases rather than robust consumer demand [1] Structural Analysis - The profit recovery is characterized by a structural divergence, with some sectors benefiting from high-end manufacturing demand while others face challenges due to weak downstream consumption [1] - Downstream industries are experiencing marginal profit shrinkage, highlighting the uneven nature of the recovery [1] Inventory Cycle and Policy Impact - The current inventory cycle is marked by proactive destocking driven by policy measures [1] - For a comprehensive recovery in corporate profits, there is a need for policy initiatives to stimulate downstream demand, transitioning from structural recovery to a broader profit rebound [1]

公司代码：601211 公司简称：国泰海通 半年度报告 CONTENTS 一、载有本公司法定代表人、主管会计工作负责人及会计机构负责人签名盖章的财务报告文本 三、其他有关资料 重要提示 重要提示 一、本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 管蔚 工作原因 周杰 三、本半年度报告未经审计。 四、公司负责人朱健、主管会计工作负责人张信军及会计机构负责人（会计主管 人员）敖奇顺声明：保证半年度报告中财务报告的真实、准确、完整。 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经公司第七届董事会第六次会议批准，公司将以实施权益分派的股权登记日公司总股本扣除公司回 购专用证券账户持有股份后的股本总额为基数，向 A 股股东和 H 股股东每 10 股分配现金红利 1.5 元（含 税）。若按照批准 2025 年中期利润分配方案的董事会召开日公司已发行的总股数 17,628,925,829 股 扣除公司回购专用证券账 ...

Core Viewpoint - Guotai Junan Securities Co., Ltd. reported significant growth in its financial performance for the first half of 2025, driven by a successful merger with Haitong Securities and a recovery in the securities market, leading to increased revenues and profits across various business segments [1][2][3]. Company Overview - Guotai Junan is a leading comprehensive financial service provider in China's securities industry, with a strong capital scale, profitability, and risk management capabilities [5]. - The company has established a diverse service system catering to retail, institutional, and corporate clients, including wealth management, investment banking, institutional trading, investment management, and financing leasing [6][7]. Financial Performance - Total assets reached approximately CNY 1.80 trillion, a 72.24% increase compared to the previous year [3]. - Operating revenue for the first half of 2025 was CNY 23.87 billion, representing a 77.71% year-on-year increase [3][26]. - Net profit attributable to shareholders was CNY 15.73 billion, up 213.74% year-on-year, with a net profit margin of 16.69% [3][6]. Business Segments - Wealth management generated CNY 9.77 billion in revenue, a 40.94% increase [7]. - Investment banking revenue was CNY 1.41 billion, with a growth rate of 5.91% [7]. - Institutional trading revenue reached CNY 6.86 billion, reflecting a 28.74% increase [7]. - Investment management and financing leasing also showed positive growth, contributing CNY 3.08 billion and CNY 2.11 billion, respectively [7]. Market Position and Strategy - The company has maintained a leading position in the market, with a focus on enhancing service capabilities and expanding its client base [5][8]. - The merger with Haitong Securities has strengthened its market presence and operational efficiency, allowing for better resource allocation and service integration [8][24]. - The company is actively pursuing digital transformation and innovation in financial services, aiming to improve customer experience and operational efficiency [23]. Regulatory and Compliance - Guotai Junan has consistently adhered to regulatory requirements and has been recognized for its compliance and risk management practices, maintaining a high credit rating in the industry [24].

Core Points - The company plans to distribute a cash dividend of RMB 0.15 per share (pre-tax) [1] - The total cash dividend to be distributed amounts to RMB 2,627,043,424 (including tax), which represents 16.69% of the net profit attributable to the parent company for the first half of 2025 [1] - The total amount of cash dividends and share repurchase amounts to RMB 3,837,777,921 (including tax), accounting for 24.39% of the net profit attributable to the parent company for the first half of 2025 [2] Profit Distribution Plan - As of June 30, 2025, the company's distributable profits amount to RMB 55,043,989,744 [1] - The cash dividend distribution is based on the total share capital after deducting shares held in the company's repurchase account [1] - The company will maintain the per-share distribution ratio even if there are changes in the total share capital before the record date [2] Decision-Making Process - The 2024 annual general meeting held on May 29, 2025, authorized the board to decide on the 2025 interim profit distribution plan [2] - The seventh board meeting held on August 29, 2025, approved the interim profit distribution plan, which complies with the company's profit distribution policy [3]

证券代码：601211 证券简称：国泰海通 公告编号：2025-088 国泰海通证券股份有限公司 第七届董事会第六次会议决议公告 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。 国泰海通证券股份有限公司（以下简称公司）第七届董事会第六次会议于 本次会议以现场结合视频方式召开，由朱健董事长主持，会议应到董事18人，实 到17人，管蔚董事委托周杰董事行使表决权。公司部分高级管理人员列席会议。 会议召集、召开及表决程序符合《中华人民共和国公司法》、公司《章程》和《董 事会议事规则》的有关规定。本次会议审议并通过了以下议案： 一、审议通过了《公司2025年半年度报告》 表决结果：18票赞成，0票反对，0票弃权。 二、审议通过了《关于公司2025年中期利润分配方案的议案》 本报告已经公司董事会审计委员会全体成员事前审议通过。 具体内容请见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《国 泰海通证券股份有限公司2025年半年度报告》。 表决结果：18票赞成，0票反对，0票弃权。 本议案已经公司董事会审计委员会全体成员 ...