（股份代號：6886） 海外監管公告 （於中華人民共和國註冊成立之股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） 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。 於本公告日期，董事會成員包括執行董事張偉先生、周易先生及王瑩女士；非執 行董事丁鋒先生、陳仲揚先生、柯翔先生、晉永甫先生及張金鑫先生；以及獨立 非執行董事王建文先生、王全勝先生、彭冰先生、王兵先生及老建榮先生。 本公告乃根據上市規則第13.10B條規則作出。 茲載列本公司在上海證券交易所網站刊登之《華泰證券股份有限公司第六屆董事 會第二十次會議決議公告》，僅供參閱。 釋義 於本公告，除文義另有所指外，下列詞彙具有以下涵義。 「本公司」 指 於中華人民共和國以華泰證券股份有限公司的公司名 稱註冊成立的股份有限公司，於2007年12月7日由前身 華泰證券有限責任公司改制而成，在香港以「HTSC」 名義開展業務，根據公司條例第16部以中文獲准名稱 「華泰六八八六股 ...

（於中華人民共和國註冊成立的股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） 董事會專門委員會工作細則 （修訂稿） 第一章 總則 第一條 為完善公司治理結構，強化董事會決策功能，根據《中華人民共和 國公司法》《上市公司獨立董事管理辦法》《證券公司治理準則》《上市公司治理準 則》《上海證券交易所股票上市規則》《香港聯合交易所有限公司證券上市規則》 《公司章程》及其他有關規定，特制定本細則。 第二條 公司董事會按照股東會的決議下設合規與風險管理委員會、審計委 員會、發展戰略委員會、提名委員會、薪酬與考核委員會。 第三條 專門委員會由三至五名董事組成，其中審計委員會、提名委員會、 薪酬與考核委員會中獨立非執行董事應過半數並擔任召集人，審計委員會的召集 人為會計專業人士。 第四條 專門委員會委員由董事長或者全體董事的三分之一以上提名，並由 董事會選舉產生。 第五條 專門委員會設立主任委員（召集人）一名，負責主持委員會工作。 發展戰略委員會主任委員由公司董事長擔任。其他委員會的主任委員在委員 內選舉，並報請董事會批准產生。 第六條 各委員會任期與董事會任期一致，委員任期屆滿，連選可以連 ...

Core Insights - High-quality information disclosure is becoming a strategic tool for brokerages to enhance competitive advantage and protect investor rights in the context of capital market reforms [1][3] Evaluation Results - The evaluation results for the 2024-2025 information disclosure work show a clear differentiation among listed brokerages, with 9 firms, including CITIC Securities and Huatai Securities, receiving an A grade, while 18 firms, including Guotai Junan and China Galaxy, received a B grade, and only one firm received a C grade [1][2] Industry Trends - The revised guidelines from the Shanghai Stock Exchange emphasize stricter information disclosure regulations, aiming to enhance the quality of disclosures and punish financial fraud [1][2] A-Grade Brokerage Practices - A-grade brokerages have developed unique quality improvement strategies, focusing on authenticity and compliance, with firms like Industrial Securities and Caitong Securities optimizing their disclosure practices [2][3] Impact on Competition - High-quality information disclosure is reshaping the competitive landscape of the securities industry, transitioning from a cost center to a profit center and strategic asset, influencing trust, funding costs, and business innovation [3][4] Investor Engagement - Brokerages like Dongwu Securities and CITIC Securities are enhancing investor communication through various channels, including performance briefings and interactive platforms, to foster positive interactions with the capital market [5] Future Outlook - The quality of information disclosure will increasingly influence brokerage classifications, potentially leading to a "Matthew Effect" where firms failing to establish robust disclosure systems may be systematically excluded from high-value business opportunities [5]

（於中華人民共和國註冊成立的股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） 董事會專門委員會工作細則 （修訂稿） 第一章 總則 第一條 為完善公司治理結構，強化董事會決策功能，根據《中華人民共和 國公司法》《上市公司獨立董事管理辦法》《證券公司治理準則》《上市公司治理準 則》《上海證券交易所股票上市規則》《香港聯合交易所有限公司證券上市規則》 《公司章程》及其他有關規定，特制定本細則。 第二條 公司董事會按照股東會的決議下設合規與風險管理委員會、審計委 員會、發展戰略委員會、提名委員會、薪酬與考核委員會。 第三條 專門委員會由三至五名董事組成，其中審計委員會、提名委員會、 薪酬與考核委員會中獨立非執行董事應過半數並擔任召集人，審計委員會的召集 人為會計專業人士。 第四條 專門委員會委員由董事長或者全體董事的三分之一以上提名，並由 董事會選舉產生。 第五條 專門委員會設立主任委員（召集人）一名，負責主持委員會工作。 第八條 專門委員會每年至少召開兩次會議，並於會議召開前七天通知全體 委員，會議由主任委員主持，主任委員不能出席時可委託其他一名委員（獨立非 執行董事）主持。 第九 ...

格隆汇10月30日丨华泰证券(06886.HK)公布2025年第三季度报告。营收约为人民币109.09亿元，同比减 少6.94%。净利润约为51.83亿元，同比减少28.11%。基本每股收益为0.55元。 前三季度营收约为271.29亿元，同比增加12.55%。净利润约为127.32亿元，同比增加1.69%。 ...

（於中華人民共和國註冊成立的股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） 董事會專門委員會工作細則 （修訂稿） 第一章 總則 第一條 為完善公司治理結構，強化董事會決策功能，根據《中華人民共和 國公司法》《上市公司獨立董事管理辦法》《證券公司治理準則》《上市公司治理準 則》《上海證券交易所股票上市規則》《香港聯合交易所有限公司證券上市規則》 《公司章程》及其他有關規定，特制定本細則。 第二條 公司董事會按照股東會的決議下設合規與風險管理委員會、審計委 員會、發展戰略委員會、提名委員會、薪酬與考核委員會。 第三條 專門委員會由三至五名董事組成，其中審計委員會、提名委員會、 薪酬與考核委員會中獨立非執行董事應過半數並擔任召集人，審計委員會的召集 人為會計專業人士。 第四條 專門委員會委員由董事長或者全體董事的三分之一以上提名，並由 董事會選舉產生。 第五條 專門委員會設立主任委員（召集人）一名，負責主持委員會工作。 發展戰略委員會主任委員由公司董事長擔任。其他委員會的主任委員在委員 內選舉，並報請董事會批准產生。 第六條 各委員會任期與董事會任期一致，委員任期屆滿，連選可以連 ...

Group 1 - The core viewpoint emphasizes the critical role of the capital market in supporting technological innovation and industrial integration during China's economic transformation [2][3] - The capital market serves as a key hub for technology innovation, effectively matching the high-risk, high-reward characteristics of tech enterprises with unique support models [2][3] - The multi-tiered capital market effectively guides social capital towards technology innovation, enhancing the proportion of direct financing [3][4] Group 2 - Various market segments, including the Shanghai and Shenzhen main boards, Sci-Tech Innovation Board, and others, develop in a complementary manner to support different types of innovative enterprises [4] - The Sci-Tech Innovation Board has attracted numerous high-growth potential "hard tech" companies by implementing flexible listing standards [5][6] - The establishment of the National Venture Capital Guidance Fund aims to leverage fiscal funds to attract nearly 1 trillion yuan in social capital, focusing on cutting-edge technology fields [7][8] Group 3 - The securities industry is enhancing its functional positioning to support high-quality development in technology innovation through professional services and financial technology [10][12] - Securities firms act as "gatekeepers," connecting tech enterprises with the capital market and ensuring accurate information disclosure [11][12] - The private equity investment funds play a crucial role in promoting technology innovation by directing capital towards early-stage and growth-stage "hard tech" enterprises [12][13] Group 4 - Securities companies are deepening industry research to provide valuable insights and enhance the understanding of technology innovation within the capital market [13][14] - The integration of technology into business operations is improving service efficiency and risk management capabilities within securities firms [14]

（於中華人民共和國註冊成立的股份有限公司， 中文公司名稱為華泰證券股份有限公司，在香港以HTSC名義開展業務） 董事會專門委員會工作細則 （修訂稿） 第一章 總則 第一條 為完善公司治理結構，強化董事會決策功能，根據《中華人民共和 國公司法》《上市公司獨立董事管理辦法》《證券公司治理準則》《上市公司治理準 則》《上海證券交易所股票上市規則》《香港聯合交易所有限公司證券上市規則》 《公司章程》及其他有關規定，特制定本細則。 第二條 公司董事會按照股東會的決議下設合規與風險管理委員會、審計委 員會、發展戰略委員會、提名委員會、薪酬與考核委員會。 第三條 專門委員會由三至五名董事組成，其中審計委員會、提名委員會、 薪酬與考核委員會中獨立非執行董事應過半數並擔任召集人，審計委員會的召集 人為會計專業人士。 第四條 專門委員會委員由董事長或者全體董事的三分之一以上提名，並由 董事會選舉產生。 第五條 專門委員會設立主任委員（召集人）一名，負責主持委員會工作。 發展戰略委員會主任委員由公司董事長擔任。其他委員會的主任委員在委員 內選舉，並報請董事會批准產生。 獨立非執行董事連任時間不得超過六年。 第七條 專門委員會應當向 ...

Financial Performance - The company reported a total revenue of approximately CNY 31.42 billion for Q3 2025, representing a year-over-year decrease of 6.94%[11] - Net profit for the quarter was CNY 7.02 billion, down 49.49% compared to the same period last year[11] - The company's earnings per share (EPS) for Q3 2025 was CNY 0.78, reflecting a decrease of 29.49% year-over-year[11] - The company’s net profit margin for the quarter was 22.34%, down from 29.49% in the same quarter last year[11] - The company’s operating income for Q3 2025 was CNY 12.64 billion, a decrease of 14.74% year-over-year[11] - Total profit for the first three quarters of 2025 reached ¥14.51 billion, an increase from ¥12.60 billion in the same period of 2024, representing a growth of approximately 15.2%[36] - Net profit attributable to shareholders of the parent company was ¥12.73 billion in 2025, compared to ¥12.52 billion in 2024, reflecting an increase of about 1.7%[36] - The company reported a net profit of CNY 8.66 billion for the first three quarters of 2025, up from CNY 5.81 billion in 2024, reflecting a growth of 48.5%[46] - Net profit for the first three quarters of 2025 reached CNY 8,011,495,916.95, a significant increase of 29.9% compared to CNY 6,167,047,156.61 in the same period of 2024[47] Assets and Liabilities - Total assets as of September 30, 2025, were approximately CNY 94.88 billion, a decrease from the previous quarter[11] - Total assets increased by 25.98% to CNY 1,025.85 billion compared to the previous year[13] - The total liabilities as of September 30, 2025, amounted to CNY 820,383,688,847.27, up from CNY 622,376,572,865.76 at the end of 2024, representing an increase of approximately 32%[32] - Total liabilities increased to CNY 641.08 billion as of September 30, 2025, compared to CNY 484.08 billion as of December 31, 2024, indicating a rise of approximately 32.5%[43] - Total equity attributable to shareholders was CNY 24.10 billion, reflecting a decrease of 6.94% compared to the previous year[11] - The company’s total equity attributable to shareholders reached CNY 205,409,452,564.66 as of September 30, 2025, compared to CNY 191,673,901,895.57 at the end of 2024, representing an increase of approximately 7.1%[32] Cash Flow - Cash flow from operating activities decreased by 88.89% due to increased cash outflows[19] - Cash flow from operating activities for the first three quarters of 2025 was ¥10.54 billion, a decrease from ¥94.88 billion in 2024[39] - Cash flow from investment activities showed a net outflow of ¥41.81 billion in 2025, contrasting with a net inflow of ¥19.82 billion in 2024[40] - Cash flow from financing activities generated a net inflow of ¥86.36 billion in 2025, compared to a net outflow of approximately ¥70.27 billion in 2024[40] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 99,245,632,956.62, slightly down from CNY 104,956,510,927.08 in 2024[49] - Cash inflow from investment activities totaled CNY 27,067,618,178.69 in 2025, compared to CNY 20,918,437,653.01 in 2024, showing an increase of 29.7%[50] Investment and Growth Strategies - The company plans to enhance its market expansion strategies and invest in new technologies to drive future growth[11] - The company is focusing on improving user data analytics to better understand customer needs and enhance service offerings[11] - The company is focusing on enhancing its investment activities and exploring new financing options to support future growth initiatives[40] Shareholder Information - The number of common shareholders at the end of the reporting period was 195,494[22] - The top ten shareholders collectively hold 15.22% of shares, with Jiangsu Guoxin Group Co., Ltd. being the largest shareholder[23] - The company completed the repurchase and cancellation of 438,495 restricted A-shares, resulting in a total share capital of 9,026,863,786 shares, with A-shares accounting for 81% and H-shares for 19%[28] Other Financial Metrics - Non-operating income for the current period totaled CNY 93.50 million, significantly impacted by government subsidies[17] - Net interest income rose by 151.27% to ¥3.27 billion, mainly due to a decrease in interest expenses[21] - Other business income surged by 440.51% to ¥569.24 million, driven by increased revenue from commodity sales[21] - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥54.94 billion in 2025, compared to ¥44.35 billion in 2024[40] - Other comprehensive income after tax for the first three quarters of 2025 was CNY 575,259,857.32, compared to CNY 182,992,141.87 in 2024, indicating a substantial increase[47]

Core Viewpoint - Huatai Securities maintains a "Buy" rating on NVIDIA (NVDA.US) with a target price of $245, driven by strong future order guidance and revenue growth from AI and other sectors [1] Group 1: Financial Performance - Blackwell and Rubin project GPU orders for the next five quarters to reach $500 billion, significantly exceeding expectations [1] - Upward revisions to FY26-28 revenue and net profit forecasts are attributed to benefits from AI factories, HPC, communications, and robotics ecosystem expansion [1] Group 2: Market Position and Strategy - The company leads in cloud computing power and extends its reach into industrial, biomedical, autonomous driving, and quantum computing sectors [1] - NVIDIA is building a comprehensive AI layout, solidifying its leading position in the market [1]