关于召开2024年年度股东会的通知 证券代码：601162 证券简称：天风证券 公告编号：2025-025 号 天风证券股份有限公司 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： 一、 召开会议的基本情况 (一)股东会类型和届次 2024年年度股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 27 日 14 点 30 分 召开地点：湖北省武汉市武昌区中北路 217 号天风大厦 3 楼会议室 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年6月27日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 6 月 27 日 本次股东会审议议案及投票股东类型 | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- | | | | 股股东 A ...

1 2024 年年度股东会会议资料 天风证券股份有限公司 2024 年年度股东会 会 议 资 料 二〇二五年六月二十七日 目 录 | 一、2024 年度董事会工作报告 3 | | | | | | --- | --- | --- | --- | --- | | 二、2024 年度监事会工作报告 16 | | | | | | 三、2024 年年度报告 23 | | | | | | 四、2024 年度独立董事述职报告 24 | | | | | | 五、2024 年度利润分配方案 25 | | | | | | 六、关于确认 2024 年度日常关联交易及预计 2025 年度日常 | | | | | | 关联交易的议案 | | 26 | | | | 七、关于公司董事 2024 年度已发放报酬总额的议案 | | 32 | | | | 八、关于公司监事 2024 年度已发放报酬总额的议案 | | 33 | | | | 九、关于制定《公司董事考核与薪酬管理办法》的议案 | .. | 34 | | | | 十、关于取消监事会并修订《公司章程》及相关议事规则的 | | | | | | | | 41 | | 议案 | | 十一、关于 ...

证券代码：601162 证券简称：天风证券 公告编号：2025-024号 天风证券股份有限公司 第四届监事会第二十二次会议决议公告 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。 特此公告。 天风证券股份有限公司监事会 2025 年 6 月 7 日 本议案具体内容详见公司于同日披露的《关于取消监事会并修订<公司章程> 及相关议事规则的公告》。 本议案尚需提交2024年年度股东会审议。 表决结果：赞成【4】人；反对【0】人；弃权【0】人。 天风证券股份有限公司（以下简称"公司"）第四届监事会第二十二次会议 于2025年5月30日向全体监事发出书面通知，于2025年6月6日以通讯方式完成表 决并形成会议决议，会议应参与表决监事4名，实际参与表决监事4名。会议的召 集、召开符合《中华人民共和国公司法》等有关法律法规及《公司章程》的规定。 本次会议审议并通过以下议案： 审议通过《关于取消监事会的议案》 根据中国证监会《关于新<公司法>配套制度规则实施相关过渡期安排》，结 合公司实际情况，公司将不再设置监事会，监事会的职权由审计委员会行 ...

证券代码：601162 证券简称：天风证券 公告编号：2025-023号 天风证券股份有限公司 第四届董事会第五十次会议决议公告 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。 天风证券股份有限公司（以下简称"公司"）第四届董事会第五十次会议于 2025年5月30日向全体董事发出书面通知，于2025年6月6日以通讯方式完成表决 并形成会议决议，会议应参与表决董事14名，实际参与表决董事14名。会议的召 集、召开符合《中华人民共和国公司法》等有关法律法规及《公司章程》的规定。 本次会议审议并通过以下议案： 一、审议通过《关于取消监事会并修订<公司章程>及相关议事规则的议案》 本议案具体内容详见公司于同日披露的《关于取消监事会并修订<公司章程> 及相关议事规则的公告》。 本议案尚需提交2024年年度股东会审议。 表决结果：赞成【14】人；反对【0】人；弃权【0】人。 二、审议通过《关于修订公司董事会专门委员会制度的议案》 表决结果：赞成【14】人；反对【0】人；弃权【0】人。 三、审议通过《关于审议公司2024年度高级管理人员考核 ...

Core Viewpoint - The recent approval of private placements by three securities firms marks a significant shift in the refinancing landscape, indicating a regulatory push towards optimizing business structures and enhancing service to the real economy [1][6][7] Group 1: Recent Developments in Securities Firms - In May, Tianfeng Securities, Nanjing Securities, and Zhongtai Securities received regulatory approval for their private placement plans, signaling a revival of the previously stagnant refinancing market [1][2] - Tianfeng Securities plans to raise up to 4 billion yuan, while Nanjing Securities aims for 5 billion yuan and Zhongtai Securities for 6 billion yuan through their respective private placements [2][4] Group 2: Characteristics of the Private Placements - A common feature among the three firms is the active participation of their controlling shareholders in the subscription process, aligning with current regulatory encouragement for major shareholders to increase their stakes [4][5] - The fundraising targets have been refined to focus more on enhancing services to the real economy, with Tianfeng Securities allocating funds for wealth management, trading, and debt repayment [4][5] Group 3: Regulatory Environment and Guidance - The recent approvals reflect a response to the regulatory emphasis on capital efficiency and the need for securities firms to focus on their core responsibilities while serving the real economy [6][7] - Regulatory bodies have reiterated the importance of prudent financing practices, urging firms to carefully determine the scale and timing of fundraising efforts to protect the interests of all investors, particularly minority shareholders [6][7]

Core Viewpoint - Multiple securities firms in China are actively engaging in share buybacks and increasing shareholder returns to boost investor confidence and enhance company value, with significant amounts already committed in recent months [1][2][3][4] Group 1: Share Buyback Activities - Guojin Securities has repurchased 6.75 million shares, accounting for 0.1818% of its total share capital, with a total expenditure of approximately 55.73 million yuan [1] - Caitong Securities has utilized nearly 300 million yuan to repurchase 40.74 million shares, representing 0.88% of its total share capital, with plans to sell the shares within 12 months [2] - Guotai Haitong has repurchased 16.92 million shares, which is 0.096% of its total share capital, with a total expenditure of 284 million yuan [2] - Dongfang Securities plans to repurchase A-shares worth between 250 million yuan and 500 million yuan, estimating to buy back around 37.04 million shares, or 0.44% of its total share capital [2] - Hongta Securities is proposing a buyback of shares with a total fund of 100 million to 200 million yuan to optimize its capital structure [3] Group 2: Shareholder Return Initiatives - Tianfeng Securities' controlling shareholder has completed a share increase plan, acquiring 179 million shares, which is 2.06% of the total share capital, with an investment of approximately 502 million yuan [3] - Xinyang Securities has announced a "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on increasing the stability and predictability of dividends [4] - The overall trend indicates that A-share listed securities firms are actively enhancing shareholder returns through buybacks and increased dividends, supported by improved cash flow from better operational performance [1][4] Group 3: Market Outlook and Investment Opportunities - Despite a recent market correction, the fundamentals of most listed securities firms remain strong, indicating a mismatch between high profitability and low valuations, suggesting attractive investment opportunities [4] - Analysts recommend focusing on firms expected to exceed performance expectations in the first half of 2025 and potential opportunities arising from increased merger and acquisition activities within the sector [4]

Core Viewpoint - The report by Tianfeng Securities highlights the accelerating demand for autonomous aviation equipment and the importance of self-sufficiency in core materials, leading to a target price adjustment for Guangwei Composites to 48.6 yuan with a "buy" rating [1] Company Overview - Guangwei Composites is a leading domestic carbon fiber manufacturer, established in 1992, with a complete industrial chain from precursor to composite materials, serving both military and civilian sectors [2] - The company has developed core technologies such as wet spray and dry spray wet spinning, with applications in aerospace and wind energy [2] Financial Performance - From 2019 to 2024, the company's revenue is projected to grow from 1.715 billion yuan to 2.450 billion yuan, with a CAGR of 7.38%, while net profit is expected to rise from 522 million yuan to 741 million yuan, with a CAGR of 7.25% [3] - Despite industry challenges, Guangwei Composites maintains leading profitability through technological advancements and a diversified customer base [3] Market Dynamics - The increasing geopolitical uncertainties are driving the urgent need for self-sufficiency in carbon fiber, a critical material for large aircraft [4] - The domestic application of composite materials in large aircraft is rising, leading to a strategic expansion in the demand for high-performance domestic carbon fiber [4] Growth Drivers - The proportion of carbon fiber in military aircraft structures is increasing, with its weight share rising from single digits to 30%-50% [5] - The demand for unmanned aerial vehicles (UAVs) is rapidly growing, with carbon fiber composites making up over 50% of certain UAV structures, indicating significant growth potential for carbon fiber in this sector [5] Profit Forecast - The company is expected to benefit from upgrades in manned/unmanned military systems and increased penetration in civilian sectors, with projected net profits for 2025, 2026, and 2027 at 898 million yuan, 1.073 billion yuan, and 1.275 billion yuan respectively [5] - The current stock price corresponds to PE ratios of 28.61, 23.97, and 20.16 for the years 2025, 2026, and 2027, with target prices ranging from 32.4 to 48.6 yuan [5]

Group 1 - The announcement states that starting from June 6, 2025, Taiping Fund Management Co., Ltd. will add Tianfeng Securities Co., Ltd. as a sales agency for various funds, allowing investors to subscribe, redeem, and convert funds through Tianfeng Securities [1][13][18] - The specific funds included in this announcement are listed with their respective codes, including Taiping Daily Gold Money Market Fund, Taiping Daily Xin Money Market Fund, and several mixed and bond funds [1][9][13] - The announcement outlines the business scope applicable from June 6, 2025, allowing investors to conduct various sales activities related to the listed funds through Tianfeng Securities [1][4][18] Group 2 - The regular investment business allows investors to set up automatic deductions from their designated accounts for fund subscriptions, with the minimum deduction amount based on the fund's minimum subscription amount [3][4] - The transaction confirmation for regular investment follows the "unknown price" principle, with the purchase price based on the fund's net asset value on the deduction date [5][11] - Fund conversion allows investors to exchange their holdings in one fund for another managed by the same fund manager, with specific rules regarding fees and conversion limits [6][9][10] Group 3 - The fee discount policy states that from June 6, 2025, there will be no restrictions on discounts for the funds listed in the announcement when participating in Tianfeng Securities' subscription fee discount activities [13][14] - The specific duration of the fee discount will be determined by announcements on Tianfeng Securities' official website [14]

Core Viewpoint - Tianfeng Securities remains optimistic about the AI industry as a key investment theme for the year, predicting that 2025 may become a pivotal year for domestic AI infrastructure competition and application development [1] Group 1: AI Industry Outlook - Continuous progress is observed in both China and the US regarding AI, with advancements in inference capabilities [1] - The recommendation is to keep an eye on AI industry dynamics and investment opportunities in AI applications [1] Group 2: Investment Recommendations - Mid to long-term focus on "AI + overseas expansion + satellites" as core investment opportunities [1] - Key areas of interest include overseas AI sectors such as optical modules & devices and liquid cooling, which are recommended for continued attention [1] - Domestic computing power lines, including domestic servers, switches, AIDC, and liquid cooling, are also highlighted as important investment targets [1] Group 3: Industry Recovery and Opportunities - The offshore wind industry is experiencing a domestic recovery, with promising opportunities for overseas expansion, emphasizing the need to adapt to industry changes [1] - Core recommendations include leading companies in submarine cable manufacturing [1] - The satellite internet industry is showing positive domestic developments, with expectations for future catalytic growth [1]

天风证券（601162）6月3日宣布，原民生证券固收首席分析师谭逸鸣已加盟天风证券研究所，担任固收 首席一职。这是谭逸鸣在三年后重回天风证券。此外，谭逸鸣团队的刘雪和唐梦涵两名成员也于近日从 民生证券离职。就在几天前，原国联证券固收首席李清荷携团队跳槽至方正证券，继续担任固收首席。 更早之前，原国联证券研究所所长杨烨辉、副所长贺朝晖先后加盟华金证券。 ...