（股份代號：01456） （於中華人民共和國成立的股份有限公司） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 如下公告已於上海證券交易所網站刊發，僅供參閱。 特此公告。 承董事會命 國聯民生證券股份有限公司 董事長 葛小波 中國江蘇省無錫市 2025年4月16日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 朱賀華先生、高偉先生及郭春明先生。 证券代码：601456 证券简称：国联民生 公告编号：2025-027 号 经中国证券监督管理委员会同意注册，国联民生证券股份有限公司（以下简 称"上市公司"或"公司"）向控股股东无锡市国联发展（集团）有限公司（以 下简称"国联集团"）发行股份购买资产，发行价格为 11.17 元/股，本次发行的 新增股份已于 2025 ...

Group 1 - The brokerage business, traditionally a core area for securities firms, has shown positive performance in 2024 due to increased market activity and trading volume [1][2] - The overall net income from brokerage services for 150 securities firms reached 115.15 billion yuan, a year-on-year increase of 16.98% [2] - Among 25 listed securities firms, the total net income from brokerage fees was 81.42 billion yuan, reflecting a year-on-year growth of 8.77%, with 21 firms reporting growth [2][3] Group 2 - Leading firms such as CITIC Securities reported a net income of 10.71 billion yuan from brokerage fees, a growth of 4.79%, while other top firms also performed well [3] - Smaller firms like Guolian Minsheng and Hualin Securities showed remarkable growth rates of 39.44% and 30.02% respectively in their brokerage income [3] Group 3 - The ability to sell financial products has become a key indicator of the success of wealth management transformation for securities firms, with CITIC Securities leading in this area [4] - The total income from selling financial products among the 25 firms reached significant figures, with Guolian Minsheng and Hualin Securities showing high growth rates in this segment [4] Group 4 - Securities firms are enhancing their wealth management capabilities by improving service models and expanding product offerings to meet diverse client needs [5][6] - By the end of 2024, firms managed a total of 84.1 trillion yuan in client assets, with a 19.9% year-on-year increase in the scale of financial products sold [5] Group 5 - The construction of a buyer advisory system is becoming a core element of wealth management strategies, with firms focusing on differentiated strategies in client operations and product innovation [6] - CITIC Securities has adopted a comprehensive financial solution approach, while Guolian Minsheng is building a service system centered on asset allocation for different client categories [6] Group 6 - Looking ahead, firms like Shenwan Hongyuan and Huatai Securities are planning to enhance their asset allocation capabilities and develop a diverse product matrix to strengthen their wealth management brands [7]

董事會會議通知 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 董事長 葛小波 中國江蘇省無錫市 2025年4月15日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 朱賀華先生、高偉先生及郭春明先生。 國聯民生證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將 於2025年4月29日（星期二）舉行，藉以（其中包括）審議及批准本公司及其附屬公司截 至2025年3月31日止三個月之第一季度業績及其發佈。 承董事會命 國聯民生證券股份有限公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 國聯民生證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將 於2025年4月29日（星期二）舉行，藉以（其中包括）審議及批准本公司及其附屬公司截 至2025年3月31日止三個月之第一季度業績及其發佈。 承董事會命 國聯民生證券股份有限公司 董事長 葛小波 中國江蘇省無錫市 2025年4月15日 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 董事會會議通知 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 朱賀華先生、高偉先生及郭春明先生。 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year increase of 15%[2]. - Total revenue, net investment income, and other income for 2024 amounted to RMB 4,214,933, a decrease of 3.89% compared to RMB 4,385,566 in 2023[17]. - Profit before tax for 2024 was RMB 372,805, reflecting a significant decline of 54.83% from RMB 825,417 in 2023[17]. - Net profit attributable to shareholders for 2024 was RMB 397,419, down 40.80% from RMB 671,319 in 2023[17]. - The company achieved total revenue of RMB 4.215 billion in 2024, a year-on-year decrease of 3.89%, with net profit attributable to shareholders of RMB 397 million, down 40.80%[40]. - The company reported a total business income of RMB 2.29 billion in 2024, compared to RMB 1.90 billion in 2023, reflecting a growth of 20.00%[69]. - The company achieved net commission and fee income of RMB 1,783.34 million, a year-on-year increase of 14.75%[110]. - Total commission and fee income reached RMB 2,003.86 million, up 11.00% compared to the previous year[113]. - The company reported a net interest income of RMB -99.95 million, a decline of 222.70% year-on-year[114]. - Operating expenses amounted to RMB 2,322.77 million, reflecting an increase of 8.36% year-on-year[122]. User Growth and Market Expansion - User data indicates a growth in active users by 20%, reaching a total of 5 million users by the end of 2024[2]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[2]. - The company added 218,600 new customers, bringing the total customer base to 1.955 million, a year-on-year growth of 12.59%[43]. - The company plans to enhance its wealth management services and improve the penetration rate of fund advisory services for retail clients in 2025[45]. Revenue Guidance and Future Projections - The company has provided a revenue guidance of RMB 1.5 billion for the next fiscal year, which reflects an expected growth of 25%[2]. - The company plans to enhance its investment research capabilities and customer service levels in 2025, focusing on long-term value investment and compliance[75]. - The company aims to increase its IPO and refinancing project reserves, focusing on the Sci-Tech Innovation Board and the Growth Enterprise Market in 2025[55]. - The company plans to enhance its bond service capabilities and actively participate in underwriting technology innovation bonds and green corporate bonds in 2025[61]. Strategic Initiatives and Acquisitions - The company completed a strategic acquisition of a fintech startup for RMB 300 million, aimed at bolstering its service offerings[2]. - A new partnership with a major bank is expected to drive a 15% increase in transaction volume[2]. - The company established three new brokerage offices during the reporting period, enhancing its market presence[150]. - The company closed seven brokerage offices during the reporting period, indicating a strategic consolidation of operations[151]. Cost Management and Efficiency - The company has implemented cost-cutting measures that are projected to save RMB 50 million annually[2]. - The company plans to enhance performance evaluation and strengthen system construction to support business development[122]. - The company will continue to promote digital business development and enhance comprehensive strength and innovative business models in 2025[71]. Financial Position and Assets - Total assets as of December 31, 2024, reached RMB 97,208,144, representing an 11.57% increase from RMB 87,128,874 in 2023[17]. - Total liabilities increased by 13.41% to RMB 78,260,128 in 2024 from RMB 69,005,316 in 2023[17]. - The equity attributable to shareholders increased to RMB 18,584,334, a growth of 4.59% from RMB 17,768,691 in 2023[17]. - The company's margin financing and securities lending balance reached RMB 11.527 billion by the end of 2024, an increase of 12.84% compared to the end of 2023[83]. Risk Management - A comprehensive risk management system has been established, utilizing quantitative indicators to ensure risks are measurable, controllable, and bearable[176]. - The company has a four-tier risk management structure, including the board of directors, senior management, risk management department, and other risk management functions[177]. - Daily monitoring of market risk is conducted through calculations of profit and loss, exposure, and other indicators, continuously improving VAR and stress testing mechanisms[185]. - Credit risk is primarily derived from financing activities, including stock pledge repurchase transactions and bond investment trading[187]. Dividend Policy - The company approved a cash dividend distribution of RMB 1.42 per 10 shares, totaling RMB 402,111,789.86 for the year 2023[194]. - For the fiscal year 2024, the company expects to distribute a cash dividend of RMB 0.56 per 10 shares, amounting to RMB 318,113,197.14, which represents 80.04% of the net profit attributable to shareholders[196]. - The remaining undistributed profits after the 2024 dividend distribution will be RMB 2,814,767,673.48, carried forward to the next fiscal year[196].

华泰联合证券有限责任公司 关于 国联民生证券股份有限公司 发行股份购买资产并募集配套资金 暨关联交易之 2024 年度持续督导意见 独立财务顾问 二〇二五年四月 声 明 华泰联合证券有限责任公司（以下简称"华泰联合证券"、"独立财务顾问"、 "本独立财务顾问"）接受国联民生证券股份有限公司（"国联民生"、"上市公司"、 "公司"）的委托，担任其发行股份购买资产并募集配套资金暨关联交易之独立财 务顾问。根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司重 大资产重组管理办法》《上市公司并购重组财务顾问业务管理办法》《上海证券交 易所股票上市规则》等法律法规的有关规定，按照证券行业公认的业务标准、道 德规范，本着诚实信用、勤勉尽责的态度，本独立财务顾问经过审慎核查，结合 国联民生 2024 年年度报告，出具本持续督导意见。 1、本持续督导意见所依据的文件、书面资料、财务数据、业务数据等由上 市公司及重组各方提供并由各方对其真实性、准确性和完整性承担全部责任。本 独立财务顾问对本次督导所发表意见的真实性、准确性和完整性负责。 2、本持续督导意见不构成对上市公司的任何投资建议，投资者根据本持续 督导意见所 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條作出。 如下公告已於上海證券交易所網站刊發，僅供參閱。 特此公告。 承董事會命 國聯民生證券股份有限公司 董事長 葛小波 中國江蘇省無錫市 2025年4月7日 截至本公告日期，本公司執行董事為葛小波先生；本公司非執行董事為顧偉先生、 周衛平先生、吳衛華先生、楊振興先生及劉海林先生；及本公司獨立非執行董事為 朱賀華先生、高偉先生及郭春明先生。 华泰联合证券有限责任公司 关于 国联民生证券股份有限公司 发行股份购买资产并募集配套资金 暨关联交易之 2024 年度持续督导意见 独立财务顾问 二〇二五年四月 声 明 华泰联合证券有限责任公司（以下简称"华泰联合证券"、"独立财务顾问"、 "本独立财务顾问"）接受国联民生证券股份有限公司（"国联民生"、"上市公司"、 " ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 呈交日期: 2025年4月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01456 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 442,640,000 | RMB | | | 1 RMB | | 442,640,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 442,640,000 | RMB | | | 1 RMB | | 442,640,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | ...

一、券商金股股票池上月回顾 2025年3月，胜宏科技、科锐国际、芯原股份等券商金股股票的月度上涨幅度靠 前。 2025年3月，长江证券、国盛证券、招商证券收益排名前三，月度收益分别为 7.59%、7.41%、5.94%，同期偏股混合型基金指数收益0.20%，沪深300指数收 益-0.07%。 2025年以来，华鑫证券、东北证券、国联证券收益排名前三，年度收益分别为 33.12%、23.23%、16.52%，同期偏股混合型基金指数收益4.65%，沪深300指数收 益-1.21%。 二、券商金股股票池中选股因子表现 最近一个月，单季度ROE、单季度净利润增速、分析师净上调幅度表现较好，盈 余公告后跳空超额、单季度营收增速、波动率表现较差； 今年以来，总市值、经营性现金净流量、SUE表现较好，分析师净上调比例、预 期股息率、波动率表现较差。 三、券商金股股票池本月特征 截至2025年4月1日，共有41家券商发布本月金股。在对券商金股股票池进行去重 后，总共有259只A股。 从绝对占比来看，本期券商金股在电子(10.11%)、机械(7.98%)、医药(7.18%)、有 色金属(6.65%)、基础化工(6.12%)行业 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company achieved a significant increase in brokerage income in Q4, with a year-on-year growth of 156.1% and a quarter-on-quarter growth of 169.3%, totaling 320 million yuan for the quarter [6] - The company's overseas business platform, Guolian Securities (Hong Kong), reported a revenue of 42.68 million yuan in 2024, reflecting a year-on-year increase of 53.9% [6] - The overall performance for 2024 showed a decline in operating income and net profit, with total revenues of 268.3 million yuan and a net profit of 39.7 million yuan, down 9.2% and 40.8% year-on-year respectively [5] Summary by Relevant Sections Financial Performance - In 2024, the company reported operating income of 268.3 million yuan and a net profit of 39.7 million yuan, representing declines of 9.2% and 40.8% year-on-year respectively [5] - The Q4 2024 operating income was 678 million yuan, showing a quarter-on-quarter decrease of 26.2% but a year-on-year increase of 51.3% [5] - The company’s total investment income and fair value changes for Q4 2024 were 48 million yuan, a significant drop from 552 million yuan in Q3 2024 [6] Business Segments - The investment banking revenue for 2024 decreased by 30.7% to 339 million yuan, primarily due to tightened A-share IPO regulations [6] - Asset management business saw a robust growth of 49% year-on-year, reaching 660 million yuan [6] Future Projections - The company is projected to achieve a net profit of 728 million yuan in 2025, reflecting a year-on-year growth of 83.09% [9] - The estimated operating income for 2025 is 3.26 billion yuan, with a growth rate of 21.47% [7]