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。 中泰证券股份有限公司（以下简称"公司"）于2025年6月11日收到上海证 券交易所（以下简称"上交所"）出具的《关于中泰证券股份有限公司向特定对 象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕174号） （以下简称"《审核问询函》"）。上交所审核机构对公司向特定对象发行股票 申请文件进行了审核，并形成了问询问题。 公司会同有关中介机构对《审核问询函》所列问题进行了认真研究和逐项落 实，并形成说明和回复，同时对募集说明书等申请文件进行了补充和修订，具体 内容详见公司于同日在上交所网站（www.sse.com.cn）披露的《关于中泰证券股 份有限公司向特定对象发行股票申请文件的审核问询函的回复》等文件。 公司本次向特定对象发行A股股票事项尚需经上交所审核通过并报中国证券 监督管理委员会（以下简称"中国证监会"）同意注册后方可实施。最终能否通 过上交所审核并获得中国证监会同意注册的决定及其时间尚存在不确定性。公司 将根据进展情况，严格按照有关规定及时履行信息披露义务， ...

Group 1 - CITIC Construction Investment expects a net profit of 4.43 billion to 4.57 billion yuan for the first half of 2025, representing a year-on-year increase of 55%-60% [1] - New Hope anticipates a net profit of 680 million to 780 million yuan for the first half of 2025, recovering from a loss of 1.217 billion yuan in the same period last year [2] - Foton Motor forecasts a net profit of approximately 777 million yuan for the first half of 2025, marking an increase of about 87.5% year-on-year [7] Group 2 - North New Road and Bridge expects a net loss of 70 million to 85 million yuan for the first half of 2025 [2] - Nanwei Co. anticipates a net loss of 12 million to 16 million yuan for the first half of 2025 [3] - Hanhua Technology projects a net loss of 45 million to 60 million yuan for the first half of 2025, widening the loss by 11.42%-18.10% compared to the previous year [6] Group 3 - Songlin Technology expects a net profit of 90 million to 95 million yuan for the first half of 2025, a decrease of 57.06%-59.32% year-on-year [4] - Fuchun Environmental Protection anticipates a net profit of 178 million to 207 million yuan for the first half of 2025, representing a year-on-year increase of 80%-110% [18] - Ansteel Group forecasts a net loss of 1.144 billion yuan for the first half of 2025, a reduction in loss of approximately 57.46% compared to the previous year [20][22] Group 4 - China Wuyi expects a net loss of 80 million to 104 million yuan for the first half of 2025, a significant decline compared to the previous year [28] - Meikailong anticipates a net loss of 1.59 billion to 1.92 billion yuan for the first half of 2025 [26] - Aijian Group projects a net profit of 140 million yuan for the first half of 2025, a decrease of 33.26% year-on-year [27]

证券代码：600918 证券简称：中泰证券 公告编号：2025-039 中泰证券股份有限公司 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。 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 （一）股东会召开的时间：2025 年 7 月 14 日 （二）股东会召开的地点：山东省济南市市中区经七路 86 号证券大厦 23 楼会议 室 本次会议由公司董事会召集，采用现场投票和网络投票相结合的方式召开， 经全体董事共同推举，会议由董事冯艺东先生主持。会议的召集、召开符合《中 华人民共和国公司法》等法律法规及《公司章程》的有关规定。 （五）公司董事、监事和董事会秘书的出席情况 会议； 二、 议案审议情况 (一)非累积投票议案 议案 （三）出席会议的普通股股东及其持有股份情况： 份总数的比例（%） 67.0900 注：公司有表决权股份总数为 6,926,694,256 股，即总股本 6,968,625,756 股扣除截至股权登记日公司回购专户回购的股份数 41,931,500 股。 （四）表决方式是否符合《中华人 ...

Group 1 - The company expects to achieve a net profit attributable to shareholders of 722.6444 million yuan for the first half of 2025, representing an increase of 80.09% compared to the same period last year [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be 706.1191 million yuan, reflecting an increase of 81.65% year-on-year [1][2] - The previous year's net profit attributable to shareholders was 401.2718 million yuan, with a total profit of 471.4653 million yuan [2] Group 2 - The increase in profit is attributed to the improvement in core functions and operational efficiency, with growth in wealth management, investment, and asset management business revenues [2] - The earnings forecast has not been audited by a registered accounting firm, and the company confirms there are no significant uncertainties affecting the accuracy of the forecast [2]

中泰证券股份有限公司 2025 年第一次临时股东会之法律意 国浩律师（济南）事务所 中泰证券股份有限公司 关于 法律意见书 北京上海深圳杭州广州昆明天津成都宁波福州西安南京南宁济南重庆苏州长沙太原武汉贵阳乌鲁木齐郑州石家庄合肥海南青岛 香港巴黎马德里硅谷斯德哥尔摩纽约 BEIJING|SHANGHAI|SHENZHEN|HANGZHOU|GUANGZHOU|KUNMING|TIANJIN|CHENGDU|NINGBO|FUZHOU|XI'AN|NANJING|NANNING|JINAN|CHONG |HONGKONG|PARIS|MADRID|SILICONVALLEY|STOCKHOLM|NEW 济南市龙奥西路 1 号银丰财富广场 C 座 19、20、25 层 邮编：250014 电话/Tel:+8653186112118 传真/Fax:+8653186110945 网址/Website:http://www.grandall.com.cn 二〇二五年七月 中泰证券股份有限公司 2025 年第一次临时股东会之法律意见书 国浩律师（济南）事务所 本所律师就本次股东会的有关事宜谨出具法律意见如下： 一、本次股东 ...

证券代码：600918 证券简称：中泰证券 公告编号：2025-039 中泰证券股份有限公司 2025年第一次临时股东会决议公告 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。 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 （一）股东会召开的时间：2025 年 7 月 14 日 （二）股东会召开的地点：山东省济南市市中区经七路 86 号证券大厦 23 楼会议 室 （三）出席会议的普通股股东及其持有股份情况： | 1.出席会议的股东和代理人人数 | 934 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 4,647,119,733 | | 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（%） | 67.0900 | 注：公司有表决权股份总数为 6,926,694,256 股，即总股本 6,968,625,756 股扣除截至股权登记日公司回购专户回购的股份数 41,931,500 股。 （四）表决方式是否符合《中华人民共和国公司法》及《 ...

中泰证券股份有限公司 2025 年第一次临时股东会之法律意见书 国浩律师（济南）事务所 关于 法律意见书 北京上海深圳杭州广州昆明天津成都宁波福州西安南京南宁济南重庆苏州长沙太原武汉贵阳乌鲁木齐郑州石家庄合肥海南青岛 香港巴黎马德里硅谷斯德哥尔摩纽约 BEIJING|SHANGHAI|SHENZHEN|HANGZHOU|GUANGZHOU|KUNMING|TIANJIN|CHENGDU|NINGBO|FUZHOU|XI'AN|NANJING|NANNING|JINAN|CHONGQING|SUZHOU|CHANGSHA|TAIYUAN|WUHAN|GUIYANG|URUMQI|ZHENGZHOU|SHIJIAZHUANG|HEFEI|HAINAN|QINGDAO |HONGKONG|PARIS|MADRID|SILICONVALLEY|STOCKHOLM|NEWYORK 济南市龙奥西路 1 号银丰财富广场 C 座 19、20、25 层 邮编：250014 19、20、25/F,BlockC,YinfengFortunePlaza,No.1Long'aoxiRoad,Jinan250014,China 电话/T ...

[Overview of Performance Forecast Announcement](index=1&type=section&id=Overview%20of%20Performance%20Forecast%20Announcement) This section provides an overview of the performance forecast announcement, highlighting key financial projections for the first half of 2025 [Important Notice](index=1&type=section&id=Important%20Notice) Zhongtai Securities anticipates over 50% growth in H1 2025 net profit and non-recurring net profit - This performance forecast applies to situations where profit is achieved and net profit increases by more than 50% compared to the same period last year[2](index=2&type=chunk) 2025 Half-Year Performance Forecast (Preliminary Estimates) | Metric | Amount (Million CNY) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | 722.64 | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains/Losses | 706.12 | [I. Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) This section details the company's performance forecast for H1 2025, including projected net profits and their year-on-year changes [Performance Forecast Period](index=1&type=section&id=Performance%20Forecast%20Period) This forecast covers the period from January 1, 2025, to June 30, 2025 - The performance forecast period is from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) [Performance Forecast Details](index=1&type=section&id=%28II%29%20Performance%20Forecast%20Details) The company forecasts significant year-on-year growth in H1 2025 net profit and non-recurring net profit 2025 Half-Year Performance Forecast and Year-on-Year Change | Metric | Estimated Amount (Million CNY) | Year-on-Year Increase (Million CNY) | Year-on-Year Growth Rate | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | 722.64 | 321.37 | 80.09% | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains/Losses | 706.12 | 317.40 | 81.65% | [Estimated Performance Unaudited by CPA](index=1&type=section&id=%28III%29%20Estimated%20Performance%20Unaudited%20by%20CPA) The estimated performance data for this period has not been audited by a certified public accountant - The estimated performance has not been audited by a certified public accountant[3](index=3&type=chunk) [II. Operating Performance and Financial Status for the Same Period Last Year](index=1&type=section&id=II.%20Operating%20Performance%20and%20Financial%20Status%20for%20the%20Same%20Period%20Last%20Year) This section presents the company's key operating performance and financial indicators for the first half of the previous year, 2024 [Key Financial Indicators (Same Period Last Year)](index=1&type=section&id=Key%20Financial%20Indicators%20%28Same%20Period%20Last%20Year%29) H1 2024 saw total profit of CNY 471.47 million, net profit of CNY 401.27 million, and EPS of CNY 0.05 Key Financial Indicators for H1 2024 | Metric | Amount (Million CNY) | | :--- | :--- | | Total Profit | 471.47 | | Net Profit Attributable to Parent Company Shareholders | 401.27 | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains/Losses | 388.72 | | Earnings Per Share | 0.05 (CNY) | [III. Primary Reasons for Current Period Performance Increase](index=1&type=section&id=III.%20Primary%20Reasons%20for%20Current%20Period%20Performance%20Increase) This section outlines the primary factors contributing to the company's anticipated performance increase in the current period [Reasons for Operating Performance Growth](index=2&type=section&id=Reasons%20for%20Operating%20Performance%20Growth) H1 2025 growth is driven by core business focus, enhanced competencies, and increased revenues from wealth, investment, and asset management - The company focused on its core responsibilities, striving to enhance five core competencies and four core functions, further improving the quality and efficiency of its operations[6](index=6&type=chunk) - Revenues from wealth management, investment, and asset management businesses achieved year-on-year growth[6](index=6&type=chunk) [Risk Warning and Explanation](index=2&type=section&id=Risk%20Warning%20and%20Explanation) This section provides important risk warnings and other explanatory matters regarding the preliminary nature of the performance forecast [IV. Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) This unaudited forecast has no major uncertainties, but investors should note its preliminary nature - This performance forecast data has not been audited by an accounting firm[7](index=7&type=chunk) - The company has no significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) [V. Other Explanatory Matters](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) Preliminary forecast data is subject to the final H1 2025 report; investors are advised to note investment risks - The above forecast data is only preliminary, and the specific accurate financial data will be subject to the company's officially disclosed 2025 half-year report[8](index=8&type=chunk) - Investors are kindly requested to pay attention to investment risks[8](index=8&type=chunk)

Investment Rating - The report does not explicitly provide an investment rating for the industry or specific companies [2]. Core Insights - The "Big and Beautiful" Act significantly raises the U.S. debt ceiling, but the risks associated with U.S. Treasury bonds remain limited. The act is expected to lead to increased issuance of U.S. debt, yet the high yield characteristics and current macroeconomic environment may attract overseas capital back to the U.S. market, mitigating liquidity pressures caused by borrowing [7]. - The signing of the "Big and Beautiful" Act is likely to benefit the A-share technology sector and the bond market, as it continues the tax reduction policies from Trump's first term, potentially enhancing economic performance [7]. - The recent trade agreement between the U.S. and Vietnam is expected to increase transshipment trade costs, which may put additional pressure on Chinese transshipment enterprises [8]. Market Performance - The major indices mostly rose last week, with the ChiNext 50 index showing a significant increase of 2.65%. The real estate index and telecommunications services index performed relatively well, with weekly increases of 6.29% and 2.27%, respectively [11][19]. - Among the 30 Shenwan first-level industries, 26 saw an increase, with real estate, steel, and non-bank financials leading the gains at 6.12%, 4.41%, and 3.96%, respectively. Conversely, coal, banking, and automotive sectors experienced declines of 1.08%, 1.00%, and 0.41% [19] [11]. Investment Suggestions - The report identifies four main lines for investment in the second half of the year: 1. **Stable sectors**: Including banking, public utilities, and transportation, which may perform well amid macroeconomic deflationary pressures [8]. 2. **Safety sectors**: Such as national defense, nuclear power equipment, and gold, which may benefit from global geopolitical tensions [8]. 3. **Big technology sectors**: Including semiconductor and computing industries, which are expected to gain from increased policy support for private technology firms [8]. 4. **New consumption sectors**: Focused on emotional value and self-gratification, particularly in beauty and pet food markets [8]. Valuation Tracking - As of July 11, 2025, the valuation of the Wind All A index (PE_TTM) stands at 20.22, reflecting an increase of 0.25 from the previous week and is positioned at the 79.40% historical percentile over the past five years [27]. - Among the 30 Shenwan first-level industries, 26 have shown a recovery in valuation (PE_TTM) [27].

Group 1 - The policy support for private technology enterprises in China has significantly increased, with a focus on encouraging leading private companies to grow stronger, which may benefit Hong Kong's technology leaders and form a main investment theme for 2025 [1] - Global geopolitical tensions are driving a new round of manufacturing expansion worldwide, with strong mid-term demand for upstream non-ferrous and resource products in China [1] - The development strategy in China emphasizes "security," leading to active performance in military-related sectors, including nuclear power, which benefits from both technology and military industries, making it a key area of focus [1] Group 2 - The Hong Kong Technology ETF tracks the Hong Kong Stock Connect Technology Index, which is compiled by China Securities Index Co., Ltd., selecting representative technology companies eligible for Hong Kong Stock Connect as constituent stocks [1] - This index aims to comprehensively reflect the overall performance of technology companies in the Hong Kong market, covering diverse technology fields such as software services and hardware manufacturing, with a focus on innovation-driven and technology-leading companies [1]