证券代码：600958 证券简称：东方证券 公告编号：2025-011 东方证券股份有限公司 关于预计公司2025年度对外担保的公告 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： 本次担保预计：东方证券股份有限公司（以下简称"公司"） 董事会审议通过并提请股东大会审议，公司及子公司为资产负债率 70%以下及超过70%的全资子公司提供的新增担保总额，均不得超过公 司最近一期经审计净资产的10%。 被担保人名称：公司直接和间接持股的全资子公司 一、担保预计基本情况 根据公司经营计划，为降低融资成本以及增强子公司对外经营能 力，公司及子公司拟为其全资子公司提供担保。按照法律、法规及《公 司章程》《公司对外担保管理办法》等相关规定，董事会审议同意提 交股东大会审议并批准以下事项： 1.担保额度：公司及子公司为资产负债率 70%以下的全资子公司 提供的新增担保总额，不得超过公司最近一期经审计净资产的 10%。 公司及子公司为资产负债率超过 70%的全资子公司提供的新增担 保总额，不得超过公司最近一期经审计净资产的 10 ...

关于东方证券股份有限公司 2024 年度非经营性资金占用及其他关联资金 往来情况的专项说明 自 2024 年 1 月 1 日 至 2024 年 12 月 31 日止年度 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 关于东方证券股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情况的专项说明 毕马威华振专字第 2501552 号 东方证券股份有限公司董事会： 我们接受委托，按照中国注册会计师审计准则审计了东方证券股份有限公司 (以下简称 "东方证券") 2024 年度的财 ...

Core Viewpoint - The company, Shenzhen Weimais New Energy (Group) Co., Ltd., has decided to postpone the completion dates of certain fundraising projects while maintaining the original investment content and total amount, ensuring compliance with regulatory requirements and protecting shareholder interests [1][7][8]. Fundraising Overview - The company raised a total of RMB 199,090.90 million by issuing 42.1 million shares at RMB 47.29 per share, with a net amount of RMB 183,581.54 million after deducting issuance costs [1]. - All raised funds have been deposited into a dedicated account, and a tripartite supervision agreement has been signed with the underwriter and the bank [2]. Project Status - As of June 30, 2024, the total investment for the fundraising projects is RMB 133,230.33 million, with cumulative investment amounting to RMB 113,309.39 million [2]. - The "Longgang Baolong New Energy Power Supply Experimental Center" project has had its completion date postponed from December 31, 2024, to December 31, 2027 [3]. Reasons for Postponement - The postponement is attributed to the evolving market conditions, increased competition in the electric vehicle components industry, and the need for careful management of fundraising usage to ensure project success [3][4]. - The company aims to align with national policies supporting the development of the new energy vehicle industry and to enhance its technological innovation and market competitiveness [4][5]. Project Re-evaluation - The company has conducted a re-evaluation of the necessity and feasibility of the postponed project, confirming its continuation in light of policy support and market demand for vehicle power supply products [4][6]. - The focus will remain on technological advancements and product integration to meet the growing needs of the electric vehicle market [6]. Impact of Postponement - The postponement is expected to have no substantial negative impact on the company's operations or shareholder interests, as it does not alter the investment content or total amount of the projects [7][8]. - The decision is seen as a prudent measure to ensure that the projects align with the company's long-term development strategy [7].

Core Viewpoint - Zhejiang Taihong Wanli Technology Co., Ltd. has received approval for its initial public offering (IPO) and will issue 85.1 million shares, accounting for 25% of the total post-issue share capital, with a strategic placement of 17.02 million shares, representing 20% of the total issuance [1][4]. Group 1: Strategic Placement Overview - The strategic placement will involve a combination of targeted placements to strategic investors, offline inquiries to qualified investors, and online offerings to the public [1]. - The initial strategic placement amount is set at 17.02 million shares, with the final amount subject to a callback mechanism based on demand [4][11]. - The strategic placement is limited to a maximum of 10 investors, in compliance with regulations, and the total shares allocated to strategic investors cannot exceed 20% of the total issuance [5][11]. Group 2: Investor Qualifications and Commitments - Investors participating in the strategic placement must meet specific criteria outlined in the relevant regulations, ensuring compliance with legal requirements [2][14]. - The strategic placement includes a special asset management plan for senior management and core employees, with a maximum subscription amount of 23.5 million yuan, not exceeding 10% of the total issuance [4][14]. - Five investors are confirmed to participate in the strategic placement, with commitments to subscribe for shares as per the strategic placement agreement [5][10]. Group 3: Compliance and Legal Review - The lead underwriter has conducted a thorough review of the participating investors' qualifications and compliance with applicable laws and regulations [3][12]. - The strategic placement agreement stipulates that investors will not participate in the preliminary inquiry and must pay the subscription amount in full within the specified timeframe [11][12]. - The lock-up period for shares acquired through the strategic placement is set at 12 months from the date of the IPO [13][18]. Group 4: Financial and Operational Background of Investors - Guangdong Guangqi No. 7 Equity Investment Partnership and Zhejiang Fuzhe Strategic Placement Fund are among the strategic investors, with substantial financial backing and operational capabilities [20][25]. - Guangqi Group, controlling Guangqi No. 7, reported a revenue of 74.741 billion yuan in the first three quarters of 2024, indicating strong financial health [21][22]. - Zhejiang Fuzhe Fund is backed by the Zhejiang Provincial State-owned Assets Supervision and Administration Commission, ensuring robust financial support for its investment activities [28][31].

Core Viewpoint - The company has completed the "Marketing Network Construction Project" and plans to manage the remaining raised funds through cash management or temporarily supplement working capital, following the necessary regulatory approvals [1][6][7] Fundraising Overview - The company raised a total of RMB 1,075,950,160.00 by issuing 51,333,500 shares at RMB 20.96 per share, with net proceeds of RMB 978,057,381.28 after deducting issuance costs [1][2] - The total investment amount for the projects disclosed in the prospectus is RMB 62,200.00 million, with RMB 60,000.00 million planned to be funded from the raised capital [2] Project Completion and Fund Usage - The "Marketing Network Construction Project" has been completed with a usage progress of 92.70%, resulting in a surplus of funds due to effective cost control and management [4][5] - As of December 31, 2024, the remaining funds in the project account amount to RMB 1,021.67 million, including cash management funds and earnings [3][4] Reasons for Fund Surplus - The surplus is attributed to prudent fund usage, ensuring project quality while controlling costs, leading to a total interest income of RMB 458.09 million from cash management [4][5] Future Fund Management Plan - The surplus funds will be temporarily managed as cash or used to supplement working capital, with a usage period not exceeding 12 months from the board's approval date [5] Decision-Making Process - The board and supervisory committee have approved the project completion and the plan for surplus fund management, confirming compliance with relevant regulations and ensuring no harm to shareholder interests [5][6]

Group 1: Gold Investment Opportunities - The Federal Reserve's decision to keep interest rates unchanged aligns with expectations, with guidance indicating two rate cuts within the year, which is favorable for gold prices [1] - The market anticipates improved dollar liquidity and potential rate cuts, suggesting a positive outlook for the gold sector [1] - The COMEX gold price has shown a slight increase of 1.16% week-on-week, reaching 3028.2 USD/ounce, with a significant rise in non-commercial net long positions by 9.25% [3] Group 2: Steel Sector Insights - The steel sector has experienced a three-year correction, and current levels present high potential for investment [1] - Recent data indicates a 4.19% week-on-week increase in national rebar consumption, totaling 2.43 million tons, while the overall price index for common steel has decreased by 1.17% [1] - The profitability and stability of leading steel companies have improved, and changes in upstream iron ore supply dynamics may lead to a recovery in domestic steel industry profitability [1] Group 3: Industrial Metals Outlook - The LME aluminum settlement price has decreased by 2.25% week-on-week, indicating market volatility [2] - The copper smelting fee has dropped significantly by 44.65%, reaching -2.3 USD/thousand tons, suggesting tightening supply conditions [2] - The demand for copper is expected to rise due to growth in solar energy, electric vehicles, and AI applications, leading to a potential increase in copper prices [2]

Investment Rating - The report indicates a positive outlook for the securities sector, with a current PB valuation of 1.47x, suggesting a high safety margin compared to historical averages [39]. Core Insights - The securities sector has shown a recovery, with a weekly increase of 2.86%, outperforming the broader market by 1.28% [5]. - The average stock price increase for listed brokerages was 3.2% during the week, with notable performers including China Galaxy and Xinda Securities, which saw gains exceeding 10% [11]. - The report emphasizes the ongoing support from national policies aimed at stabilizing growth and boosting the capital market, which is expected to enhance the sector's performance in the medium to long term [42]. Summary by Sections Market Review - The securities sector's performance has improved, with a year-to-date decline of only 2.02% as of March 14, 2025, compared to the gains of the CSI 300 and other indices [5]. - The sector has outperformed 25 other primary industries during the recent week [5]. Important Policies and Industry Dynamics - The China Securities Regulatory Commission (CSRC) has emphasized the importance of implementing policies that support market stability and growth, particularly in light of recent national meetings [14][15]. - A notification from the Ministry of Natural Resources and the Ministry of Finance outlines the use of local government special bonds to support land reserves, which may indirectly benefit the securities market [16][17]. Key Market Data - The A-share market remains active, with an average daily trading volume of 1.75 trillion yuan, reflecting an 82.44% year-on-year increase [25]. - A total of 35.1 billion yuan was raised through equity financing in the A-share market during the week, with significant contributions from IPOs [31]. Valuation and Investment Recommendations - The current PB valuation of the securities sector is 1.47x, which is below the historical average of 1.85x, indicating potential for growth [39]. - Investment recommendations focus on leading brokerages with strong fundamentals, those likely to benefit from mergers and acquisitions, and firms excelling in wealth management [42].