Investment Rating - The report maintains an "Overweight-A" rating for Zhongtai Securities (600918 SH) [1] Core Views - Investment banking and asset management have become competitive advantages for the company, with significant improvement in proprietary investment profitability [1] - The company achieved operating income of 12 762 billion yuan in 2023, a year-on-year increase of 36 86%, and net profit attributable to the parent company of 1 800 billion yuan, a year-on-year increase of 204 94% [1] - The weighted ROE was 4 25%, an increase of 2 76 percentage points from the previous year [1] Investment Banking Performance - Completed 29 equity underwriting projects with a total underwriting scale of 19 215 billion yuan, a year-on-year increase of 20 77% [1] - Completed 11 IPO projects, an increase of 3 from the same period last year, ranking in the top 10 in terms of the number of sponsorships and underwriting scale on the Beijing Stock Exchange [1] - Obtained the qualification for non-financial corporate debt financing tool underwriting, completed 204 bond underwriting projects with a scale of 129 530 billion yuan, a year-on-year increase of 39 48%, maintaining the first position in the Shandong market for three consecutive years [1] - Investment banking fee income reached 1 349 billion yuan, an increase of 32 57% [1] Proprietary Investment - Achieved investment net income of 1 373 billion yuan, a year-on-year increase of 34 42% [1] - Fair value change income turned from a loss of 1 372 billion yuan in the same period last year to a profit of 1 443 billion yuan, contributing to the company's performance improvement [1] Wealth Management and Futures Business - The monthly active users of Zhongtai Qifutong APP reached 5 0591 million, a year-on-year increase of 9 58%, ranking 10th among brokerage apps [1] - Zhongtai Futures' end-of-period equity totaled 26 677 billion yuan, an increase of 4 88% from the end of the previous year [1] - Zhongtai Futures' fee income market share was 1 51%, an increase of 0 05 percentage points year-on-year [1] - Institutional client assets grew by 7 25% to 75 305 billion yuan [1] Asset Management - Zhongtai Asset Management's scale was 122 071 billion yuan, a decrease of 967 15 billion yuan from the end of 2022, mainly due to a reduction in single product scale of 799 28 billion yuan [1] - Completed the acquisition of Wanjia Fund, becoming the controlling shareholder of Wanjia Fund, with a total of 140 products and a management scale of 394 194 billion yuan, an increase of 12 97% [1] - Money fund scale reached 236 293 billion yuan, an increase of 40 61% [1] - The acquisition of Wanjia Fund drove asset management business income to increase by 259 71% to 1 987 billion yuan [1] Financial Projections - Expected operating income for 2024-2026: 14 692 billion yuan, 16 575 billion yuan, and 17 759 billion yuan, with year-on-year growth of 15 12%, 12 82%, and 7 15% respectively [1] - Expected net profit attributable to the parent company for 2024-2026: 2 044 billion yuan, 2 491 billion yuan, and 2 947 billion yuan, with year-on-year growth of 13 56%, 21 88%, and 18 28% respectively [1] - PB ratios for 2024-2026: 1 12, 1 12, and 1 00 respectively [1]

Financial Performance - In 2023, the company achieved operating revenue of 12.762 billion yuan, a growth of 36.86%[12] - The total profit reached 2.557 billion yuan, increasing by 226.99%[12] - The net profit attributable to shareholders was 1.8 billion yuan, up by 204.94%[12] - The company reported a total revenue of 1.5 billion in Q3 2023, representing a 15% increase year-over-year[39] - The company’s operating revenue for 2023 reached ¥12,761,895,252.53, representing a 36.86% increase compared to ¥9,324,533,356.02 in 2022[48] - Net profit attributable to shareholders of the parent company surged to ¥1,799,796,559.84, a remarkable increase of 204.94% from ¥590,207,682.20 in the previous year[48] - The net profit for the year 2023 was ¥2.06 billion, representing a 193.03% increase compared to ¥703.40 million in 2022[58] - The company's operating profit surged by 223.47% to ¥2.58 billion in 2023, compared to ¥796.31 million in 2022[58] - The company achieved a total operating revenue of 12.762 billion CNY in 2023, representing a year-on-year increase of 36.86%[65] - The total profit reached 2.557 billion CNY, marking a significant year-on-year growth of 226.99%[65] Wealth Management and Client Services - The wealth management sector saw significant growth, managing assets exceeding 1.2 trillion yuan and serving over 8.5 million clients[14] - The company launched the "Zhongtai Wealth" brand as part of its wealth management transformation[14] - The company served 8.51 million clients and managed client assets of 1.23 trillion yuan as of December 31, 2023, with a net increase of 544,100 new accounts during the year[79] - The company aims to strengthen its wealth management services and improve customer asset structure while enhancing its comprehensive financial service platform[81] Investment Banking and Underwriting - The investment banking revenue hit a historical high, with the number of equity underwriting projects ranking in the top ten of the industry[14] - The company completed 204 bond underwriting projects with a total underwriting scale of 129.53 billion yuan[13] - The company completed 29 equity underwriting projects in 2023, with a total underwriting scale of 19.215 billion CNY, up from 15.910 billion CNY in 2022[67] - The company assisted 31 central enterprises in successfully issuing bonds and asset securitization products, enhancing service levels for central enterprise clients[74] - The investment banking segment provides services such as stock underwriting, bond underwriting, and mergers and acquisitions, catering to various enterprises and institutions[115] Technology and Digital Transformation - The company is enhancing its financial technology capabilities, optimizing platforms like Qifutong and Zhang e Tong[15] - The company received the "All-round King Award" for digital transformation in the securities industry[15] - The company has developed advanced financial technology platforms, including the XTP trading system and Qifutong APP, enhancing operational efficiency[120] - The company achieved a business online and automation rate exceeding 95% through digital transformation initiatives[176] Compliance and Risk Management - The company emphasizes compliance and risk control as a core theme, enhancing its compliance management system and risk management framework[6] - The company has established a governance mechanism that ensures clear responsibilities, transparency, and effective checks and balances[6] - The company has implemented a robust compliance and risk management system, ensuring comprehensive coverage across all departments and subsidiaries[121] - The company has established a comprehensive risk management system aligned with its development strategy, continuously optimizing its risk management foundation, including culture, systems, and personnel[165] - The company actively monitors compliance risks through various measures, including compliance reviews, consultations, and assessments, to prevent and mitigate compliance-related issues[167] Market Expansion and Strategic Initiatives - The company is focused on enhancing its market presence and actively responding to challenges to drive market expansion[6] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[39] - The company plans to open 5 new offices in key cities across China by the end of 2023[39] - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million earmarked for potential targets[200] Corporate Governance - The company has established a sound corporate governance structure, including a board of directors, supervisory board, and management team[188] - Independent directors account for over 50% of the audit, nomination, and remuneration committees, ensuring effective oversight[188] - The company held a total of 5 shareholder meetings during the reporting period, including 1 annual meeting and 4 extraordinary meetings[191] - The board of directors convened 9 meetings, adhering to legal regulations and internal rules[188] Financial Position and Assets - The total assets as of December 31, 2023, amounted to ¥195,658,686,810.89, a decrease of 1.63% from ¥198,893,934,656.96 at the end of 2022[48] - Total liabilities decreased by 3.70% to ¥153,330,557,169.83 from ¥159,224,298,817.37 in the previous year[48] - The company's cash and cash equivalents decreased by 4.78% to ¥54.21 billion from ¥56.93 billion in 2022[57] - The company's total financial assets at fair value reached 66.70 billion RMB by the end of the reporting period[145] Research and Development - Research and development expenses increased by 20% to support new technology initiatives[39] - The company's total R&D investment amounted to approximately 226 million yuan, representing 1.77% of total revenue[132] - The company conducted 58 innovation projects during the reporting period, with 19 projects receiving awards[176] Social Responsibility and Investor Protection - The company is committed to protecting the legitimate rights and interests of investors, particularly small and medium-sized investors, by improving information disclosure quality[6] - The company is dedicated to social responsibility and aims to enhance its brand influence and reputation in the capital market[6] - The company is committed to enhancing investor protection, particularly for small and medium investors, as part of its operational philosophy[159]

独立董事提名人声明与承诺 (五)中共中央组织部《关于进一步规范党政领导干部在企 业兼职(任职)问题的意见》的相关规定(如适用); 提名人中泰证券股份有限公司董事会,现提名金李先生为中 泰证券股份有限公司第三届董事会独立董事候选人,并已充分了 解被提名人职业、学历、职称、详细的工作经历、全部兼职、有 无重大失信等不良记录等情况。被提名人已同意出任中泰证券股 份有限公司第三届董事会独立董事候选人(参见该独立董事候选 人声明)。提名人认为,被提名人具备独立董事任职资格,与中 泰证券股份有限公司之间不存在任何影响其独立性的关系,具体 声明并承诺如下: 字 一、被提名人具备上市公司运作的基本知识,熟悉相关法律、 行政法规、规章及其他规范性文件,具有5年以上经济等履行独 立董事职责所必需的工作经验。 被提名人已经参加培训并取得证券交易所认可的相关培训 证明材料。 中 二、被提名人任职资格符合下列法律、行政法规和部门规章 的要求: (一)《中华人民共和国公司法》关于董事任职资格的规定; (二)《中华人民共和国公务员法》关于公务员兼任职务的 规定(如适用); (三)中国证监会《上市公司独立董事管理办法》、上海证 券交易所自律 ...

公司代码：600918 公司简称：中泰证券 中泰证券股份有限公司 2023 年度内部控制评价报告 中泰证券股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 根据公司财务报告内部控制重大缺陷的认定情况，于内部控制评价报告基准日，不存在财务报告内 部控制重大缺陷，董事会认为，公司已按照企业内部控制规范体系和相关规定的要求在所有重大方面保 持了有效的财务报告内部控制。 3. 是否发现非财务报告内部控制重大缺陷 □是 √否 根据公司非财务报告内部控制重大缺陷认定情况，于内部控制评价报告基准日，公司未发现非财务 报告内部控制重大缺陷。 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、 ...

证券代码：600918 证券简称：中泰证券 公告编号：2024-018 中泰证券股份有限公司 关于确认2023年日常关联交易及预计2024年日常关联交易的公告 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。 重要内容提示： 根据《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 5 号——交易与关联交易》等相关规定，结合日常经营和业务开展的需要， 中泰证券股份有限公司（以下简称"公司"）对 2023 年日常关联交易进行了确 认，并对 2024 年日常关联交易进行了预计。具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于 2024 年 3 月 29 日召开第二届董事会第七十六次会议，审议通过了 《关于确认 2023 年日常关联交易及预计 2024 年日常关联交易的议案》，关联董 事进行了回避表决。本议案尚需提交公司股东大会审议，届时关联股东将回避本 议案中涉及自身相关的关联事项的表决。 公司第二届董事会审计委员会第四十次会议、独立董事第一次专门会议审议 通过了上述议案。 | | ...

证券代码：600918 证券简称：中泰证券 公告编号：2024-019 中泰证券股份有限公司 关于公司董事会、监事会换届选举的公告 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。 中泰证券股份有限公司（以下简称"公司"）第二届董事会和第二届监事会 已任期届满。根据《中华人民共和国公司法》《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》等法律法规、规范性文件及《公司章程》的有关规 定，结合公司实际，现将公司董事会、监事会换届选举工作有关情况说明如下： 一、董事会换届选举情况 2024 年 3 月 29 日，公司第二届董事会第七十六次会议审议通过《关于提名 公司第三届董事会非独立董事候选人的议案》《关于提名公司第三届董事会独立 董事候选人的议案》。经公司董事会提名委员会审查，董事会同意公司相关股东 提名王洪先生、冯艺东先生、吕祥友先生、茹刚先生、王文波先生、谢蛟龙先生 为公司第三届董事会非独立董事候选人；同意提名杜兴强先生、金李先生、靳庆 军先生、綦好东先生为公司第三届董事会独立董事候选人。 上述 6 名非独立董事候 ...

中泰证券股份有限公司 关于计提资产减值准备的公告 证券代码：600918 证券简称：中泰证券 公告编号：2024-016 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、计提资产减值准备情况概述 根据《企业会计准则》和中泰证券股份有限公司（以下简称"公司"）会计 政策的相关规定，为真实、公允地反映公司的财务状况和经营成果，公司及下属 子公司对截至 2023 年 12 月 31 日的各项需要计提减值准备的资产进行了减值测 试，并计提了相应的减值准备。2023 年 7-12 月计提各项资产减值准备 43,467.46 万元，超过公司最近一个会计年度经审计净利润的 10%。具体如下： （四）买入返售金融资产 二、计提资产减值准备对公司的影响 2023 年 7-12 月，公司合并报表计提资产减值准备 43,467.46 万元，减少利润 总额 43,467.46 万元，减少净利润 41,383.35 万元。 1 单位：人民币万元 类别 2023 年 7-12 月计提金额 一、信用减值准备 43,395.90 其中：应收款项/其他应收 ...

本议案尚需提交公司股东大会审议。 证券代码：600918 证券简称：中泰证券 公告编号：2024-015 中泰证券股份有限公司 第二届监事会第三十二次会议决议公告 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。 中泰证券股份有限公司（以下简称"公司"）第二届监事会第三十二次会议 于 2024 年 3 月 29 日在公司 19 楼会议室，以现场、视频、电话会议相结合的方 式召开。本次会议为定期会议，会议通知和会议材料于 2024 年 3 月 19 日以电子 邮件和专人送达方式发出。会议应出席监事 5 名，实际出席监事 5 名（其中：以 视频、电话方式出席会议的监事 2 名），公司相关高级管理人员、证券事务代表 列席会议。本次会议由监事安铁先生召集和主持，会议的召集、召开、主持符合 《中华人民共和国公司法》等法律法规和《公司章程》《公司监事会议事规则》 的规定。本次会议形成以下决议： 一、审议通过了《公司 2023 年度监事会工作报告》。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 二、审议通过了《公司 2023 年度总 ...

证券代码：600918 证券简称：中泰证券 公告编号：2024-014 中泰证券股份有限公司（以下简称"公司"）第二届董事会第七十六次会议于 2024 年 3 月 29 日在公司 19 楼会议室，以现场、视频、电话会议相结合的方式 召开。本次会议为定期会议，会议通知和会议材料于 2024 年 3 月 19 日以电子邮 件和专人送达方式发出。会议应出席董事 10 名，实际出席董事 10 名（其中，以 视频、电话方式出席会议的董事 4 名）。会议由董事长王洪先生召集和主持。全 体监事及部分高级管理人员列席会议。本次会议的召集、召开、主持符合《中华 人民共和国公司法》等法律法规和《公司章程》《公司董事会议事规则》的规定。 会议形成以下决议： 一、审议通过了《公司 2023 年度董事会工作报告》。 表决结果：同意 10 票，反对 0 票，弃权 0 票。 本议案尚需提交公司股东大会审议。 二、审议通过了《公司 2023 年度总经理工作报告》。 表决结果：同意 10 票，反对 0 票，弃权 0 票。 三、审议通过了《公司 2023 年年度报告》。 中泰证券股份有限公司 第二届董事会第七十六次会议决议公告 本公司董事会及全 ...