国浩律师（上海）事务所 关于东兴证券股份有限公司 2024 年年度股东大会的法律意见书 致：东兴证券股份有限公司 东兴证券股份有限公司（以下简称"公司"）2024 年年度股东大会（以下简称 "本次股东大会"）于 2025 年 6 月 24 日在北京市西城区金融大街 9 号金融街中心 18 层第一会议室召开。国浩律师（上海）事务所（以下简称"本所"）接受公司的委 托，指派本所律师出席会议见证，并依据《中华人民共和国证券法》《中华人民共 和国公司法》、中国证券监督管理委员会《上市公司股东会规则》和《东兴证券股 份有限公司章程》（以下简称"《公司章程》"）出具本法律意见书。 本所律师根据对事实的了解和对法律的理解，已按有关法律、法规的规定对公 司本次股东大会的召集、召开程序是否合法及是否符合《公司章程》、出席会议人 员资格和召集人资格的合法有效性，以及本次股东大会表决程序、表决结果和决议 的合法有效性发表法律意见。 本所律师依据有关法律、法规的规定出具本法律意见书，已对与出具本法律意 见书有关的法律事实进行审查判断。本法律意见书不存在虚假、严重误导性陈述及 重大遗漏。 国浩律师（上海）事务所 法律意见书 本所律师同 ...

证券代码：601198 证券简称：东兴证券 公告编号：2024-024 东兴证券股份有限公司 2024年年度股东大会决议公告 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。 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 （一）股东大会召开的时间：2025 年 6 月 24 日 （二）股东大会召开的地点：北京市西城区金融大街 9 号金融街中心 18 层 第一会议室 （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 | 1,199 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,711,944,910 | | 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份总数的比例（%） | 52.9612 | （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的方式召开。公司董 事长李娟女士主持会议，符合《公司法》等法律、法规及《公司章程》的有 ...

表决结果：15 名董事同意，0 名董事反对，0 名董事弃权。 二、审议通过《关于新设上杭营业部的议案》 表决结果：15 名董事同意，0 名董事反对，0 名董事弃权。 证券代码：601198 证券简称：东兴证券 公告编号：2025-025 东兴证券股份有限公司 第六届董事会第七次会议决议公告 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。 东兴证券股份有限公司（以下简称东兴证券或公司）第六届董事会第七次会 议于2025年6月13日通过电子邮件方式发出会议通知，2025年6月24日在北京市西 城区金融大街9号金融街中心18层第一会议室以现场及通讯方式召开。本次会议 应参与表决董事15名，实际参与表决董事共15人（其中：以通讯表决方式出席会 议的共10人）。会议由董事长李娟女士主持，监事和部分高级管理人员列席会议。 本次会议以记名投票方式进行表决，会议的召开及表决程序符合《公司法》及《东 兴证券股份有限公司章程》的规定。本次会议表决通过了以下议案： 一、审议通过《关于南宁金湖北路营业部更名为南宁分公司的议案》 特此公告。 东兴证券股 ...

Core Points - The company reported a significant decline in revenue and net profit for the year 2024, with total revenue of 903.16 million yuan, a decrease of 15.37% compared to the previous year [1][2] - The net profit attributable to shareholders was -107.45 million yuan, a drastic drop from a profit of 34.32 million yuan in the previous year, marking a decline of 413.09% [1][2] - The company also reported a negative net profit of -167.61 million yuan after excluding non-recurring gains and losses, compared to -8.06 million yuan in the previous year, reflecting a decline of 1,980.12% [1][2] - The net cash flow from operating activities improved significantly to 90.16 million yuan, compared to -57.09 million yuan in the previous year, indicating a 257.92% increase [1][2] 2025 Q1 Summary - In the first quarter of 2025, the company generated revenue of 156.49 million yuan, down 8.67% year-on-year [3][4] - The net profit attributable to shareholders was -15.60 million yuan, an improvement from -35.04 million yuan in the same period last year, showing a 55.47% reduction in losses [3][4] - The net profit after excluding non-recurring items was -16.49 million yuan, also an improvement from -34.75 million yuan year-on-year, reflecting a 52.56% reduction in losses [3][4] - The net cash flow from operating activities was -48.50 million yuan, which is an improvement from -72.52 million yuan in the previous year, indicating a 33.13% reduction in negative cash flow [3][4] Capital Distribution - The company announced a capital distribution plan, proposing to increase capital by 4 shares for every 10 shares held, without cash dividends or bonus shares [2]

Core Viewpoint - Zhejiang Heda Technology Co., Ltd. has revised its performance forecast and report, indicating a significant decrease in net profit and an increase in bad debt provisions due to cautious assessments of accounts receivable and reduced operating income [1][7]. Group 1: Performance Revision - The revised net profit attributable to the parent company is -5.636 million yuan, a decrease of 10.928 million yuan, representing a reduction of 206.50% [1]. - The adjusted net profit after deducting non-recurring gains and losses is -14.385 million yuan, down by 10.743 million yuan, reflecting a decrease of 294.96% [1]. - The company has increased the provision for bad debts based on a prudent assessment of the recoverability of accounts receivable and a decrease in operating income [1][7]. Group 2: Impact on Accounts Receivable - The company provided detailed information on the impact of the performance revision on accounts receivable, including specific project names, customer names, and the amounts of bad debt provisions [2][4]. - The provision for bad debts was increased from 30% to 50% for certain customers due to heightened collection risks [4][5]. - The company identified several projects with significant impacts on accounts receivable, including changes in management and communication difficulties with clients [4][5]. Group 3: Revenue Impact - The performance revision also affected operating income, with specific projects and customers leading to revenue adjustments [6][8]. - The company anticipates a revenue reduction of approximately 10% for certain projects due to client funding issues and extended collection periods [6][8]. - The total revenue for the year was reported at 479 million yuan, a year-on-year increase of 39.74%, with the top five customers contributing 153 million yuan, a 139.25% increase [8][9]. Group 4: Internal Control Assessment - The company acknowledged certain deficiencies in internal controls related to the assessment of accounts receivable and revenue recognition, but stated that these do not constitute significant internal control defects [7][8]. - The company has implemented strict internal control procedures for financial data provision and external disclosures [7][8]. - A comprehensive review of accounts receivable and revenue projects was conducted, leading to the identification of increased bad debt provisions and revenue adjustments [7][8].

泽达易盛财务造假案余波未散，2名保代再被"点名"。 今年以来，针对投行保代的监管持续从严，曾卷入泽达易盛财务造假案的2名保代，在本周将遭监管约 谈。 据北京证监局最新披露，胡晓莉、陶晨亮在相关保荐项目中未勤勉尽责，被分别采取监管谈话措施。另 据中国证券业协会（下称"中证协"），2人执业机构均为东兴证券，且目前均在保荐代表人C类（处罚 处分类）名单中。 公开资料显示，2020年6月，泽达易盛登陆科创板，胡晓莉、陶晨亮曾作为该公司IPO的保荐代表人。 上市两年后，2022年5月泽达易盛因信披违规突遭证监会立案，后被查明连续6年财务造假、累计虚增收 入超5.6亿元。泽达易盛因此被强制退市，公司及相关中介机构集体被罚，两名保代也遭上交所监管警 示。 今年以来，监管多次对"带病闯关""一撤了之"的IPO项目出手严惩，券商投行和保代因此被追责。据第 一财经梳理，年内，中金公司、国金证券、国元证券等公司保代，均因撤单IPO被罚，部分保代还因此 被"禁业"数月。 对此，北京证监局分别对胡晓莉、陶晨亮采取监管谈话措施，约谈时间为6月17日。此外，上述监管措 施决定，未提及2人所涉违规保荐项目的具体信息。 记者在中证协官网查询到 ...

智通财经APP获悉，东兴证券发布研报称，下半年的运输板块挑战与机遇并存。目前市场对于部分周期 底部行业给予了较为悲观的预期，但这也正是周期行业的机会所在。价格竞争是行业的正常现象，去年 以来政府部门对于反内卷的日益重视，则体现出国家希望为行业的价格竞争行为划定一条底线。交运板 块中，航空板块自疫情后持续亏损，24年还出现了较明显的票价下降;快递板块24年起价格战烈度明显 加剧，目前也已经持续了较长时间。两者盈利都长期受价格竞争的影响。 长期看，任何行业都需要合理的利润，长期处于微利或亏损状态不利于行业健康发展。因此该行认为， 对于价格竞争较为激烈的领域，需要重点关注行业基本面和政策调控带来的变化，行业价格端的触底回 升会带来较强的盈利弹性。 东兴证券主要观点如下： 快递：通达系价格战进入深水区，重视左侧配置价值 今年快递板块的价格战烈度较高，中通与圆通两家头部企业同时加大对市场份额的争夺力度，对行业后 续的价格水平大概率形成一定冲击。受价格战烈度加剧的影响，一季度行业整体表现为利润下降。若将 盈利拆解为件量乘以单票净利润，则表现为件量增长无法完全对冲单票盈利下降造成的影响。 与业绩的压力相对的是，目前市场对快 ...

Group 1 - The merger and acquisition (M&A) market is experiencing growth this year, supported by favorable policies, leading to increased participation from securities firms seeking new development opportunities [1][2] - The slowdown in IPO activities has pressured the performance of securities firms, making the deepening of M&A activities a strategy to improve their operational performance and enhance competitiveness [1][3] - Securities firms play a crucial role in facilitating M&A transactions, especially for technology-driven companies, by providing services that support the development of new productive forces [2][4] Group 2 - Securities firms offer specialized services in valuation, transaction execution, and post-merger integration, which are essential for creating reasonable M&A proposals and pricing systems [3][4] - The increase in M&A activities is expected to boost the financial advisory income of securities firms, contributing to overall revenue growth and reducing reliance on traditional brokerage and proprietary trading businesses [4][5] - Firms are focusing on leveraging their unique advantages, such as organizational structure and regional strengths, to capture opportunities in the M&A market [5][6] Group 3 - Companies are encouraged to explore M&A opportunities in high-end manufacturing, ICT, new materials, renewable energy, and healthcare sectors, emphasizing the importance of industry expertise [6] - Collaboration between M&A and other business lines is being promoted to enhance resource integration and facilitate the entry of small and medium-sized non-listed companies into the capital market [6]

Group 1: Industry Overview - The demand in the supply chain remains strong in Q1 2025, with the battery sector showing signs of recovery in both profitability and revenue [1] - The lithium battery sector is expected to see a rebound in overall prosperity, driven by new technologies like solid-state batteries, which are anticipated to catalyze market growth starting in the second half of 2024 [1] - The industry is projected to experience profit recovery and valuation enhancement from 2025 to 2026 as new technologies are commercialized [1] Group 2: Battery Sector Insights - The current landscape in the lithium battery supply chain is favorable, with stable supply-side changes expected to lead to simultaneous revenue and profit increases [2] - Leading companies with differentiated products and advanced manufacturing capabilities are likely to maintain profitability, while some second-tier manufacturers may capture new customer orders and benefit from the trend of industry globalization [2] - Companies like Guoxuan High-Tech (002074.SZ) and CATL (300750.SZ) are expected to benefit from the upcoming harvest period of production capacity and competitive advantages from differentiated products [2] Group 3: Material Sector Insights - Despite some companies facing declining profit margins and low capacity profitability, the concentration in the lithium battery material sector is expected to increase, leading to a potential recovery in profit levels [2] - The market share of ternary cathode materials is anticipated to rebound due to improved safety performance, with potential applications in semi-solid and sodium batteries [2] - Companies such as Huayou Cobalt (603799.SH) are expected to benefit from the positive outlook on ternary cathode materials [2] Group 4: New Technology Catalysts - Solid-state batteries are entering a rapid growth phase, with companies releasing technology solutions and industrial applications, which may accelerate the commercialization process [3] - Companies with a first-mover advantage in solid-state battery technology are likely to benefit significantly, with Guoxuan High-Tech being highlighted for its leading position [3] - Sodium batteries have reached a critical cost threshold for large-scale applications, particularly in extreme environment energy storage and electric two-wheelers, with companies like CATL and Huayang Co. (600348.SH) expected to benefit from this trend [3]

A股三大指数今日集体上涨，截至收盘，沪指涨0.52%站上3400点，深成指涨0.83%，创业板指涨1.21%，北证50指数平收。全市场超3400只个股上涨。 分析人士认为，市场突然转向多头占优的格局，与多个利好因素释放有关。 消息面上，当地时间6月9日至10日，中美经贸中方牵头人、国务院副总理何立峰与美方牵头人、美国财政部长贝森特及商务部长卢特尼克、贸易代表格里 尔在英国伦敦举行中美经贸磋商机制首次会议。双方进行了坦诚、深入的对话，就各自关心的经贸议题深入交换意见，就落实两国元首6月5日通话重要共 识和巩固日内瓦经贸会谈成果的措施框架达成原则一致，就解决双方彼此经贸关切取得新进展。 一连串利好来袭 券商板块出现异动 自上周以来，券商板块频频异动，背后有何原因？综合市场各方意见，主要有三方面因素。 今天上午，"牛市旗手"券商板块突然爆发，多股冲击涨停。截至收盘，兴业证券涨超9%，信达证券涨超6%，东兴证券、中国银河、广发证券等跟涨。 | | 证券 | | | | --- | --- | --- | --- | | | 1453.48 1.93% | | | | 涨幅榜 | 跌幅榜 | 盘□ | 新闻 | | 兴 ...