北京德恒律师事务所 关于太平洋证券股份有限公司 2025 年第一次临时股东大会的法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于太平洋证券股份有限公司 2025 年第一次临时股东大会的法律意见 北京德恒律师事务所 关于太平洋证券股份有限公司 2025 年第一次临时股东大会的法律意见 德恒 01G20250584-1 号 致：太平洋证券股份有限公司 北京德恒律师事务所（以下简称"本所"）作为太平洋证券股份有限公司 （以下简称"公司"）的常年法律顾问，接受公司委托，指派本所律师出席公司 2025 年第一次临时股东大会（以下简称"本次股东大会"或"本次会议"）， 对本次股东大会的合法性进行见证并出具法律意见。 本法律意见根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）等法律法规、规范性 文件以及《太平洋证券股份有限公司章程》（以下简称"《公司章程》"）、《太 平洋证券股份有限公司股东大会议事规则》（以下简称"《股东大会议事规则》" ...

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 证券代码：601099 证券简称：太平洋 公告编号：临 2025-30 太平洋证券股份有限公司 2025年第一次临时股东大会决议公告 (一) 股东大会召开的时间：2025 年 11 月 14 日 (二) 股东大会召开的地点：云南省昆明市北京路 926 号同德广场写字楼 31 楼会 议室 (三) 出席会议的普通股股东和恢复表决权的优先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 | 2,051 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 1,092,192,094 | | 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 | 16.0232 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，采用现场投票与网络投票相结合的方式召开。 公司董事长郑亚南先生主持会议，符合《 ...

Core Viewpoint - The report from Pacific Securities indicates that the company Jiuziyuan achieved a net profit attributable to shareholders of 2.549 billion yuan in Q1-Q3 2025, representing a year-on-year decrease of 17.39% [1] - In Q3, the net profit attributable to shareholders was 320 million yuan, showing a significant year-on-year decline of 48.69% [1] - The company's performance is under short-term pressure, with expectations for demand recovery in the future [1] Financial Performance - For the first three quarters of 2025, Jiuziyuan's net profit attributable to shareholders was 2.549 billion yuan, down 17.39% compared to the same period last year [1] - In the second quarter of 2025, the net profit attributable to shareholders was 320 million yuan, reflecting a 48.69% decrease year-on-year [1] Market Outlook - The company is currently facing short-term performance challenges, with a focus on waiting for demand to improve [1]

Core Insights - Singapore's rise as an international financial center was not a result of meticulous planning but rather a series of opportunistic decisions made in response to unexpected circumstances [1][3][11] - The government and civil service in Singapore play a crucial role in balancing financial development with macroeconomic stability, showcasing a pragmatic approach to governance [2][6][11] Group 1: Key Factors in Singapore's Financial Success - Singapore's ability to seize opportunities, such as the suggestion from a U.S. bank to utilize time zone differences for foreign exchange trading, marked the beginning of its financial center status [2][5] - The unique division of the banking system into offshore and onshore segments allowed Singapore to open its market while safeguarding macroeconomic stability [2][6] - The government acts not only as a promoter of financial growth but also as a strict rule-maker and guardian, ensuring a stable financial ecosystem [2][11] Group 2: Challenges and Balancing Act - The challenge of balancing financial industry growth with macroeconomic safety is a persistent dilemma for Singapore's civil service [6][8] - New technologies and payment methods present both opportunities and risks, necessitating a careful approach to regulation that does not stifle innovation [7][8] - The influx of family offices from China has prompted Singapore to establish clear guidelines to manage growth while assessing associated risks [8] Group 3: Cultural and Structural Considerations - The cultural aspect of governance, including a strong adherence to rules and transparency, is vital for maintaining Singapore's status as a financial hub [9][11] - The need for a robust infrastructure, including efficient transportation and high-speed internet, is essential for attracting international financial activities [10][11] - The recruitment of international talent is critical, but it must be balanced with the development of local expertise to ensure sustainable growth in the financial sector [9][10]

Group 1 - The core viewpoint of the article highlights the performance of China Pacific Insurance (601601) during the period from January 1, 2025, to October 31, 2025, indicating a positive growth in premium income [1] - China Pacific Life Insurance Co., Ltd., a subsidiary of the company, reported a cumulative original insurance premium income of RMB 241.322 billion, representing a year-on-year increase of 9.9% [1] - China Pacific Property Insurance Co., Ltd., another subsidiary, recorded a cumulative original insurance premium income of RMB 173.567 billion, showing a modest year-on-year growth of 0.4% [1]

Group 1 - The core point of the article is that China Pacific Insurance (02601.HK) reported its insurance premium income for the period from January 1 to October 31, 2025, showing significant growth in its life insurance segment and modest growth in its property insurance segment [1] Group 2 - China Pacific Life Insurance Co., Ltd. achieved a cumulative original insurance premium income of RMB 241.322 billion, representing a year-on-year increase of 9.9% [1] - China Pacific Property Insurance Co., Ltd. reported a cumulative original insurance premium income of RMB 173.567 billion, with a year-on-year growth of 0.4% [1]

Group 1 - The core viewpoint of the article highlights the performance of China Pacific Insurance during the specified period, indicating a positive growth trend in premium income for its subsidiaries [1] Group 2 - China Pacific Life Insurance Co., Ltd. reported a cumulative original insurance premium income of RMB 241.322 billion, representing a year-on-year increase of 9.9% [1] - China Pacific Property Insurance Co., Ltd. reported a cumulative original insurance premium income of RMB 173.567 billion, showing a modest year-on-year growth of 0.4% [1]

Group 1 - The core point of the article is that China Pacific Insurance has reported its insurance premium income for the period from January 1, 2025, to October 31, 2025, showing growth in both life and property insurance segments [1] Group 2 - China Pacific Life Insurance Co., Ltd. achieved a cumulative original insurance premium income of RMB 241.322 billion, representing a year-on-year increase of 9.9% [1] - China Pacific Property Insurance Co., Ltd. reported a cumulative original insurance premium income of RMB 173.567 billion, with a year-on-year growth of 0.4% [1]

Group 1 - The core point of the article is that China Pacific Insurance has reported its insurance premium income for the period from January 1, 2025, to October 31, 2025, showing growth in both life and property insurance segments [1] Group 2 - China Pacific Life Insurance Co., Ltd. achieved a cumulative original insurance premium income of RMB 241.322 billion, representing a year-on-year increase of 9.9% [1] - China Pacific Property Insurance Co., Ltd. reported a cumulative original insurance premium income of RMB 173.567 billion, with a year-on-year growth of 0.4% [1]

Group 1: Investment Strategy Overview - The report indicates a growing divergence in the market, with frequent changes in hot sectors and poor sustainability of these trends. Investors are advised to "accumulate grain" and maintain lighter positions, focusing on dividend stocks while waiting for better buying opportunities in technology after sufficient adjustments [4][18]. - The A-share market is experiencing a decline in trading volume, remaining below 2 trillion, and is precariously holding above the 4000-point mark. The report anticipates a continued shift of funds from technology to dividend stocks [4][18]. - The report highlights that the technology sector's absorption rate has fallen below 25%, indicating a release of crowded positions, but the time for recovery remains insufficient. It predicts a divergence in the performance of technology stocks, with those lacking earnings support likely to see significant corrections [4][18]. Group 2: Market Performance and Trends - The report notes that the quality of the rising sectors is poor, with more sectors declining than rising, and the sustainability of hot sectors is weak. The insurance, pharmaceutical, and oil and gas development sectors are leading gains, while wind power, photovoltaics, and new materials are declining [4][18]. - The report provides insights into the performance of various concepts, with cell immunity and combustible ice concepts leading gains, while previously strong concepts like cultivated diamonds are now declining [4][18][21]. Group 3: Bond Market Insights - The bond market is expected to continue its upward momentum in the short term, with a long-term target set at the low point of September 30, 2024. The report maintains that the trend of "strong stocks and weak bonds" is likely to persist [14][17]. Group 4: Foreign Exchange and Commodity Markets - The report states that the onshore RMB against the USD is at 7.1172, showing a slight increase. Despite recent adjustments in the USD index, it is expected to remain strong due to the stable performance of the US economy [27][29]. - The Wenhua Commodity Index has risen by 0.1%, influenced by the reopening of the US government and steady domestic inflation. However, the report suggests that investors should remain cautious and observe the market [31][33].