Core Viewpoint - Tianfeng Securities announced on October 30 that it conducted an expected credit loss assessment for its assets as of September 30, 2025, to accurately reflect its financial status and operating results for the period from January to September 2025 [2] Financial Performance - The company and its subsidiaries recognized a total impairment provision of 93.41 million yuan for various assets from July to September 2025, which accounts for over 10% of the absolute value of the audited net profit for the most recent fiscal year [2]

Core Insights - Tianfeng Securities reported a revenue of 890,007,182.03 yuan for the third quarter of 2025, representing a year-on-year growth of 43.94% [2] - The net profit attributable to shareholders of the listed company for the same period was 121,734,265.07 yuan [2] Financial Performance - The company achieved a significant increase in revenue compared to the previous year, indicating strong operational performance [2] - The net profit figure reflects the company's profitability and effective cost management during the quarter [2]

Core Viewpoint - Tianfeng Securities reported significant growth in revenue and net profit for Q3 2025, indicating a successful turnaround and strong performance in its investment banking and brokerage services [1][2]. Financial Performance - In Q3 2025, Tianfeng Securities achieved operating revenue of 890 million yuan, a year-on-year increase of 43.94% - The net profit attributable to shareholders was 122 million yuan, marking a return to profitability compared to the previous year - For the first three quarters, the cumulative operating revenue reached 2.112 billion yuan, up 57.53% year-on-year, with a net profit of 153 million yuan, also a turnaround from losses [1]. Business Development - The increase in revenue was primarily driven by higher net commission income and investment gains - Since the acquisition by Hubei Hongtai Group, the company has aimed to enhance its governance, structure, operational mechanisms, and overall performance under the "Six New" strategy [1][2]. Investment Banking Activities - Tianfeng Securities has initiated a "second entrepreneurship" strategy, focusing on becoming a top-tier investment bank - In the first three quarters, the company completed a total bond underwriting volume of 87.1 billion yuan, ranking 8th in corporate bond underwriting and 13th in overall bond underwriting [2]. Market Position and Strategy - The company is actively engaging with various cities to implement a comprehensive service model for urban investment banking, which includes research, forums, fund establishment, and financing services - The self-operated business team aims to become the profit center by optimizing asset allocation through in-depth macroeconomic and market research [2]. Revenue Breakdown - For the first three quarters, Tianfeng Securities reported net commission income of 1.67 billion yuan, a year-on-year increase of 19.92% - Investment income reached 1.266 billion yuan, reflecting a substantial year-on-year growth of 82.33% [2].

证券代码：601162 证券简称：天风证券 公告编号：2025-066号 天风证券股份有限公司 关于会计政策变更的公告 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： 本次会计政策变更系天风证券股份有限公司（以下简称公司）依据中华 人民共和国财政部（以下简称财政部）发布的相关文件进行的相应变更，无需提 交公司董事会和股东会审议，不会对公司财务状况、经营成果和现金流量产生重 大影响。 一、本次会计政策变更概述 财政部于 2025 年 7 月 8 日发布标准仓单交易相关会计处理实施问答（以下 简称问答）。该问答明确企业在期货交易场所通过频繁签订买卖标准仓单的合同 以赚取差价、不提取标准仓单对应的商品实物的，应当将其签订的买卖标准仓单 的合同视同金融工具，并按照《企业会计准则第 22 号——金融工具确认和计量》 的规定进行会计处理。 二、具体情况及对公司的影响 公司自2025年1月1日起执行上述问答的有关规定。 （二）会计政策变更对公司财务报告的主要影响 上述会计政策变更对公司本期及可比期间的财务报表数据无影响，无需 ...

重要内容提示： 拟续聘的会计师事务所名称：大信会计师事务所（特殊普通合伙）（以 下简称"大信"）。 2025年10月30日，天风证券股份有限公司（以下简称"公司"）召开第四届 董事会第五十六次会议，审议并通过了《关于续聘会计师事务所的议案》，同意 公司续聘大信为公司2025年度财务报告审计机构及内部控制审计机构，并同意将 该议案提交股东会审议。现将相关情况公告如下： 证券代码：601162 证券简称：天风证券 公告编号：2025-064号 天风证券股份有限公司 关于续聘会计师事务所的公告 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。 3.业务规模 4.投资者保护能力 职业保险累计赔偿限额和计提的职业风险基金之和超过2亿元，职业风险基 金计提和职业保险购买符合相关规定。 2024年度业务收入15.75亿元，为超过10,000家公司提供服务。业务收入中， 审计业务收入13.78亿元、证券业务收入4.05亿元。2024年上市公司年报审计客 户221家（含H股），平均资产额195.44亿元，收费总额2.82亿元。主要分布于制 造业， ...

（一）公司计提资产减值准备情况概述 根据《企业会计准则》和公司会计政策的相关规定，为真实、公允地反映 公司截至 2025 年 9 月 30 日的财务状况和 2025 年 1-9 月经营成果，公司及下属 子公司对截至 2025 年 9 月 30 日的各项需要计提减值的资产进行了预期信用损 失评估，2025 年 7-9 月计提各项资产减值准备共计 9,341.00 万元，占公司最 近一个会计年度经审计净利润绝对值的 10%以上，详见下表： | 项 | 目 | 2025 年 7-9 | 月计提资产减值准备 （单位：万元） | | --- | --- | --- | --- | | 融出资金 | | | 109.63 | | 买入返售金融资产 | | | 5,428.71 | | 应收款项 | | | 643.02 | | 其他资产 | | | 3,159.63 | | 合 | 计 | | 9,341.00 | 注：以上为公司核算数据，未经审计。本公告中部分合计数与各加数直接 相加之和在尾数上存在差异是由于四舍五入所致。 （二）计提资产减值准备的具体说明 证券代码：601162 证券简称：天风证券 公告编号：2025 ...

证券代码：601162 证券简称：天风证券 公告编号：2025-065 号 天风证券股份有限公司 关于召开2025年第五次临时股东会的通知 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 2025年第五次临时股东会 (二)股东会召集人：董事会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 17 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11月17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 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 11 月 17 日 至2025 年 11 月 17 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票 ...

天风证券股份有限公司 2025 年第五次临时股东会 会 议 资 料 二〇二五年十一月十七日 1 2025 年第五次临时股东会会议资料 目 录 一、关于续聘会计师事务所的议案 ..................... 3 2 2025 年第五次临时股东会会议资料 关于续聘会计师事务所的议案 各位股东： 天风证券股份有限公司（以下简称"公司"）拟续聘大信 会计师事务所（特殊普通合伙）（以下简称"大信"）为公司 2025 年度财务报告审计机构及内部控制审计机构，具体情况 如下： 一、拟续聘会计师事务所的基本情况 （一）机构信息 1.基本信息 3.业务规模 3 2025 年第五次临时股东会会议资料 2024 年度业务收入 15.75 亿元，为超过 10,000 家公司提 供服务。业务收入中，审计业务收入 13.78 亿元、证券业务收 入 4.05 亿元。2024 年上市公司年报审计客户 221 家（含 H 股）， 平均资产额 195.44 亿元，收费总额 2.82 亿元。主要分布于制 造业，信息传输、软件和信息技术服务业，电力、热力、燃气 及水生产和供应业，科学研究和技术服务业、水利、环境和公 共设施管理业。公司同 ...

证券代码：601162 证券简称：天风证券 公告编号：2025-062号 天风证券股份有限公司 第四届董事会第五十六次会议决议公告 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"）第四届董事会第五十六次会议 于2025年10月24日向全体董事发出书面通知，于2025年10月30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12名，实际参与表决董事12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《2025年第三季度报告》 公司2025年第三季度报告报告真实反映了公司2025年第三季度的财务状况 和经营成果，不存在虚假记载、误导性陈述或重大遗漏。本议案具体内容详见公 司于同日披露的《天风证券股份有限公司2025年第三季度报告》。 本议案提交董事会前已经公司董事会审计委员会审议通过。 会议同意续聘大信会计师事务所（特殊普通合伙）为公司2025年度财务报告 及内部控制审计机构。具体内容详见公司于同日披 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥890,007,182.03, an increase of 43.94% compared to the same period last year[6]. - The total profit for the period was ¥130,330,576.52, with a year-to-date profit of ¥222,233,749.43[6]. - The net profit attributable to shareholders was ¥121,734,265.07 for the quarter, and ¥153,127,628.80 year-to-date[6]. - Total operating revenue for the first three quarters of 2025 reached ¥2,111,877,842.90, a significant increase of 57.3% compared to ¥1,340,647,363.62 in the same period of 2024[22]. - Net profit for the first three quarters of 2025 was ¥184,422,556.44, recovering from a net loss of ¥505,514,114.19 in the first three quarters of 2024[22][23]. - The company reported a total profit of ¥222,233,749.43 for the first three quarters of 2025, recovering from a loss of ¥377,526,907.76 in the previous year[22]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥2,427,421,665.46, reflecting a decrease of 52.15%[6]. - Cash inflow from operating activities for the first three quarters of 2025 reached ¥8,283,088,928.11, a slight increase from ¥8,049,801,018.45 in the same period of 2024[25]. - Net cash flow from operating activities decreased to ¥2,427,421,665.46 in 2025 from ¥5,072,663,907.31 in 2024, indicating a significant decline[25]. - Cash inflow from investment activities totaled ¥9,698,833,085.25 in 2025, down from ¥18,299,251,557.29 in 2024[25]. - Net cash flow from investment activities improved to ¥884,369,747.58 in 2025 compared to ¥273,379,424.96 in 2024[25]. - Total cash inflow from financing activities surged to ¥19,524,535,597.36 in 2025, significantly higher than ¥9,227,308,796.30 in 2024[26]. - Net cash flow from financing activities showed a negative balance of -¥6,110,365,033.51 in 2025, an improvement from -¥8,160,599,675.64 in 2024[26]. - The ending cash and cash equivalents balance for 2025 was ¥22,187,737,405.03, compared to ¥20,940,599,179.37 in 2024[26]. - The company reported a significant increase in cash received from the sale of goods and services, totaling ¥2,391,303,476.03 in 2025, up from ¥2,167,315,728.54 in 2024[25]. - The company experienced a notable increase in cash received from investment recoveries, amounting to ¥9,386,216,751.21 in 2025, compared to ¥17,896,420,948.12 in 2024[25]. Assets and Liabilities - The total assets at the end of the reporting period were ¥92,495,735,238.44, a decrease of 5.52% from the previous year-end[7]. - Total liabilities decreased to ¥64,571,005,370.51 from ¥73,713,700,264.42, reflecting a reduction of approximately 12.5%[20]. - The net capital at the end of the reporting period was ¥19,219,795,079.56, up from ¥15,306,094,607.21 at the previous year-end[9]. - The liquidity coverage ratio decreased to 313.84% from 521.79% at the previous year-end[9]. - Cash and cash equivalents were reported at ¥21,193,960,812.31, down from ¥23,930,360,022.40[19]. - The company reported a decrease in trading financial assets from ¥37,680,091,310.59 to ¥34,119,117,732.69[19]. - The company’s receivables decreased from ¥3,311,172,611.87 to ¥2,733,862,159.09[19]. - The company’s goodwill remained unchanged at ¥51,424,882.46[19]. - Shareholders' equity attributable to the parent company increased to ¥27,430,562,110.30, up from ¥23,416,799,759.34, representing a growth of 17.4%[20]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 513,569[16]. - The largest shareholder, Hubei Hongtai Group Co., Ltd., holds 2,854,134,185 shares, representing 28.14% of total shares[16]. - The second largest shareholder, Wuhan State-owned Capital Investment Operation Group Co., Ltd., holds 760,988,942 shares, representing 7.50%[16]. - The company has no significant changes in the top 10 shareholders or their participation in margin trading[17]. Other Information - Non-recurring gains and losses for the period amounted to a net loss of ¥15,053,673.73, primarily due to other operating expenses[14]. - There are no other important reminders regarding the company's operational situation during the reporting period[18]. - The company did not apply new accounting standards for the year 2025[27].