競天公誠律師事務所 JINGTIAN & GONGCHENG 杭州市上城区钱江路 1366 号华润大厦 A 座 3001 邮编: 310017 Room 01, 30/F, Area A, China Resources Tower, No.1366, Qianjiang Road, Hangzhou, China T: (86-571) 8992 6500 北京章天公诚 关于恒生申 2024 年第三次临时股东大会的法律意见书 致:恒生电子股份有限公司 北京竞天公诚(杭州)律师事务所(以下简称"本所")接受恒生电子股份 有限公司(以下简称"公司")的委托,指派本所律师列席了公司于2024年9 月 12 日下午 14:00 在杭州市滨江区滨兴路 1888 号数智恒生中心会议室召开的 公司 2024年第三次临时股东大会(以下简称"本次股东大会")。 本所律师根据《中华人民共和国公司法》《中华人民共和国证券法》中国证 券监督管理委员会《上市公司股东大会规则》《上海证券交易所上市公司自律监 管指引第1号 -- 规范运作》等中国现行法律、法规和相关规范性文件(以下简 称"中国法律法规"）及《恒生电子股份有限公司章程》( ...

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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 1,056 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 497,317,148 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 26.2937 | 证券代码：600570 证券简称：恒生电子 公告编号：2024-062 恒生电子股份有限公司 2024 年第三次临时股东大会决议公告 (五) 公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 审议结果：通过 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | | | | （%） | | （%） | | A 股 | 469,944,360 | ...

关于 2024 年股票期权激励计划内幕信息知情人买卖公司股票情况的 自查报告 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。 恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 编号：2024-063 恒生电子股份有限公司 二、核查对象买卖公司股票情况说明 （一）核查对象买卖公司股票的自查结果 根据中国证券登记结算有限责任公司上海分公司出具的《信息披露义务人 持股及股份变更查询证明》和《股东股份变更明细清单》，在自查期间，核查 对象中共有 7 名人员存在买卖公司股票的情形，具体情况详见附件一《核查对 象在自查期间买卖股票的情况》。除上述人员外，核查对象中的其他人员在自 查期间不存在买卖公司股票的行为。 （二）关于核查对象买卖公司股票情况的说明 恒生电子股份有限公司（以下简称"恒生电子"或"公司"）于 2024 年 8 月 23 日召开了第八届董事会第十九次会议，审议并通过了《关于<恒生电子股份 有限公司 2024 年股票期权激励计划（草案）及其摘要>的议案》，具体情况公司 已于 2024 年 8 月 24 日披 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The report emphasizes the company's stable revenue growth while facing profit pressure due to market conditions. In the first half of 2024, the company achieved operating revenue of 2.836 billion yuan, a year-on-year increase of 0.32%, but the net profit attributable to shareholders dropped by 93.30% to 30 million yuan [6][9] - The company has launched a new stock option incentive plan, reflecting confidence in its medium to long-term development. The plan involves granting 34 million stock options, accounting for 1.80% of the total share capital, with performance targets set for the years 2024-2026 [6][9] - The company is actively working on cost reduction and efficiency improvement measures, achieving a 0.66% year-on-year decrease in overall costs in the first half of 2024 [7] Summary by Sections Financial Performance - In 2024H1, the company reported a revenue of 2.836 billion yuan, with a year-on-year growth of 0.32%. However, the net profit attributable to shareholders fell to 30 million yuan, a decline of 93.30% [6] - The company’s revenue from wealth technology services decreased by 16.99% to 549 million yuan, while asset management technology services saw a growth of 9.17% to 722 million yuan [6] - The forecast for revenue from 2024 to 2026 is 7.533 billion yuan, 8.315 billion yuan, and 9.366 billion yuan, respectively, with expected growth rates of 3.5%, 10.4%, and 12.6% [8][9] Research and Development - The company continues to increase its R&D investment, with 8,913 technical personnel and R&D expenses of 1.162 billion yuan, representing a R&D expense ratio of 40.96% [9] - The company is focused on maintaining its technological leadership through continuous iteration of its core systems and platforms [9] Market Position and Strategy - The company is building a comprehensive innovation ecosystem, providing a full-stack service for financial institutions, and has successfully launched integrated solutions at industry events [7][9] - The report highlights the company's strategic adjustments in response to market changes, aiming to enhance product quality and operational efficiency [7]

Investment Rating - The investment rating for the company is "Buy" (maintained) with a market price of 15.88 CNY [1]. Core Views - The company is expected to achieve revenue growth from 2024 to 2026, with projected revenues of 78.22 billion CNY, 85.46 billion CNY, and 95.57 billion CNY respectively. Corresponding net profits are forecasted to be 15.81 billion CNY, 17.74 billion CNY, and 20.11 billion CNY, with P/E ratios of 19, 17, and 15 times [5]. - The company reported a slight revenue increase of 0.32% year-on-year for the first half of 2024, but net profit saw a significant decline of 93.30% [4]. - The company is focusing on diversifying its business segments, with varying performance across different sectors, such as a 16.99% decline in wealth technology services and a 9.17% increase in asset management technology services [4]. Financial Performance Summary - Revenue for 2022 was 6,502 million CNY, with a projected increase to 7,281 million CNY in 2023, and further growth to 7,822 million CNY in 2024 [1]. - The net profit for 2022 was 1,091 million CNY, expected to rise to 1,424 million CNY in 2023, and reach 1,581 million CNY in 2024 [1]. - The gross margin for the first half of 2024 was reported at 71.32%, indicating stable profitability [4]. - The company has implemented effective cost control measures, resulting in a decrease in sales, management, and R&D expense ratios compared to the previous year [4]. Stock Performance and Market Capitalization - The total share capital of the company is 1,894 million shares, with a market capitalization of 30,079 million CNY [2]. - The stock price as of September 9, 2024, is 15.88 CNY, reflecting the company's current market valuation [2].

华福证券 包 研 恒生电子（600570.SH） 需求短期承压，股权激励彰显信心 投资要点： 公司发布 2024 年半年报 2024 年上半年，公司实现主营收入 28.36 亿元，同比增长 0.32%； 归母净利润为 2989.03 万元，同比下降 93.3%；扣非净利润为 1.36 亿 元，同比减少 48.81%。其中，2024 年第二季度公司实现主营收入 16.48 亿元，同比减少 2.88%；季度归母净利润为 6603.27 万元，同比下降 70.56%；季度扣非净利润为 1.14 亿元，同比下降 39.97%。 资管科技服务全面战略纵深 上半年，得益于新一代投资交易系统 O45 的成功推广，公司资管 科技服务业务收入达到 7.22 亿元，同比增长 9.17%。在上半年签约了 多家重要客户，包括信托公司和银行理财子公司。此外，新一代产品 Fusion China 投资管理平台的市场推广形成影响力，重点推进以 IBOR 为核心的新一代投资管理平台建设，实现了重要突破。Summit 系统中 标国有政策性大行资金系统信创版，成为信创领域的标杆项目。 技术研发与创新驱动成果转化 恒生电子持续加大技术研发投入，2 ...

恒生电子股份有限公司 证券代码：600570 证券简称：恒生电子 编号：2024-061 恒生电子股份有限公司监事会 关于公司 2024 年股票期权激励计划 授予激励对象名单的核查意见及公示情况说明 本公司监事会及全体监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。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）的相关 规定，恒生电子股份有限公司（以下简称"公司"）对本次激励计划拟激励对象 的姓名和职务进行了内部公示。根据《管理办法》和《恒生电子股份有限公司章 程》（以下简称"《公司章程》"）的规定，公司监事会结合公示情况对《恒生 电子股份有限公司 2024 年股票期权激励计划（草案）》（以下简称"《激励计 划（草案）》"、"本激励计划"）激励对象人员名单发表核查意见。相关内容 如下： 一、激励对象名单的公示情况 1、公示内容：2024 年股票期权激励计划授予激励对象名单。 恒生电子股份有限公司 三、监事会的审核意见 根据《管理办法》、《中华人民共和国公司法》(以下简称"《公司法》") 及《公司章程》的相关规定，结合公司对拟激励对象 ...

Investment Rating - Maintains "Overweight" rating [2][4] Core Views - The company's new equity incentive plan is expected to drive future performance growth [1] - The company continues to focus on innovation and digital transformation, with products iterating and updating [2] - Despite a decline in net profit, the company's cost control and asset management technology services performed well [1] Financial Performance - H1 2024 revenue reached 2.836 billion yuan, a year-on-year increase of 0.32% [1] - Net profit attributable to the parent company was 29.89 million yuan, a year-on-year decrease of 93.30% [1] - Non-GAAP net profit was 136 million yuan, a year-on-year decrease of 48.81% [1] - Gross profit margin of main business remained stable at 71.32% [1] - Asset management technology service revenue increased by 9.17%, while wealth technology service revenue decreased by 16.99% [1] Equity Incentive Plan - The company issued a stock option incentive plan on August 23, 2024, granting 34 million shares at 17.04 yuan per share to 1,400 core employees [1] - The exercise period is from 2024 to 2026, with a requirement for non-GAAP net profit to grow by at least 10% annually [1] Product and Technology Development - UF3.0 system continues to iterate, with milestone achievements in benchmark projects [2] - O45 system signed multiple new clients, with significant progress in the new generation investment management platform based on IBOR [2] - Warren Q, an integrated research and investment technology platform, is widely tested across the industry [2] - Light technology platform is further developed, focusing on distributed low-latency platforms and efficient data integration [2] Market Data - Total market capitalization is 29.454 billion yuan [5] - The stock price range over the past year is 15.23 yuan to 36.45 yuan [5] - The turnover rate in the past three months is 52.35% [5] Profit Forecast - Adjusted net profit forecast for 2024-2025 is 1.528 billion yuan and 1.758 billion yuan, respectively, with a new forecast for 2026 at 2.061 billion yuan [2] - The current PE ratio for 2024-2026 is 19x, 17x, and 14x, respectively [2] Financial Indicators - ROE (diluted) for 2024-2026 is expected to be 16.41%, 16.35%, and 16.55%, respectively [3] - EPS for 2024-2026 is forecasted to be 0.81 yuan, 0.93 yuan, and 1.09 yuan, respectively [3] - The company's gross profit margin is expected to remain stable at around 75% from 2024 to 2026 [6]

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恒生电子股份有限公司投资者关系活动记录表 | --- | --- | --- | --- | |----------------|--------------|----------------------------------|--------------------| | 证券代码： | 600570 | 证券简称：恒生电子 编号： | 2024-003 | | 投资者关系活动 | □ | 特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | ☑业绩说明会 | | | | □ | 新闻发布会 □路演活动 | | | | □现场参观 | | | | | □其他 | | | | 参与单位名称 | | 本次活动采取线上会议形式，共 258 | 名投资者参加会议。 | | 时间 | 2024 年 8 月 | 27 日 15:00-16:00 | | | 地点 | 线上直播 | | | | 上市公司接待人 | | | | | 员姓名 | | | | | | | 投资者关系活动主要内容介绍 | | | Q1 | | | | | | | | | | 显释放？ | | | | | | | | | | | | ...