内部控制审计报告 安永华明（2025）专字第70041859_B01号 中银国际证券股份有限公司 中银国际证券股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了中银国际证券股份有限公司2024年12月31日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价 指引》的规定，建立健全和有效实施内部控制，并评价其有效性是中银证券董事会的 责任。 安永华明（2025）专字第70041859_B01号 中银国际证券股份有限公司 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计 意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况 的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内 部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为，中银国际证券股份有限公司按照《企业内部控制基本规范》 ...

中银证券 2024 年度独立董事述职报告 独立董事 李军 作为中银国际证券股份有限公司（以下简称"公司"）的独立董事， 我严格按照《公司法》《证券法》《证券公司治理准则》《证券公司 监督管理条例》《上市公司独立董事管理办法》等相关法律、法规以 及《公司章程》《董事会议事规则》《独立董事工作制度》的规定与 要求，在 2024 年度的工作中勤勉尽责地履行职责，充分发挥独立董 事专业优势和作用，积极维护公司的整体利益和全体股东的合法权益， 推动公司的科学健康持续发展。 一、独立董事的基本情况 李军，博士，中国注册会计师，注册资产评估师。曾在山东省兖 州煤业集团、大连商品交易所等任职。现任北京华钰基金管理有限公 司董事长。2020年3月起至今，任公司独立董事。 我已按照《上市公司独立董事管理办法》《证券基金经营机构董 事、监事、高级管理人员及从业人员监督管理办法》等制度，对2024 年度本人独立性进行了全面自查。经自查，我在2024年度不存在影响 1 姓名 职务 在其他单位担任的职务 兼职单位 职务 李军 独立董事 北京华钰基金管理有限公司 董事长 中国建材股份有限公司 独立董事 中国铁路物资股份有限公司 独立董事 ...

中银证券 2024 年度独立董事述职报告 独立董事 王宇 作为中银国际证券股份有限公司（以下简称"公司"）的独立董事， 我严格按照《公司法》《证券法》《证券公司治理准则》《证券公司 监督管理条例》《上市公司独立董事管理办法》等相关法律、法规以 及《公司章程》《董事会议事规则》《独立董事工作制度》的规定与 要求，在 2024 年度的工作中勤勉尽责地履行职责，充分发挥独立董 事专业优势和作用，积极维护公司的整体利益和全体股东的合法权益， 推动公司的科学健康持续发展。 一、独立董事的基本情况 王宇，博士，研究员、博导。曾任郑州大学经济法系讲师；中国 人民银行货币政策司副处长；中国人民银行金融市场司处长；中国人 民银行研究局副局长、巡视员；中国人民银行参事。2020年12月退休。 2021年3月起至今，任公司独立董事。 2024年度，本人未在其他单位兼职。我已按照《上市公司独立董 事管理办法》《证券基金经营机构董事、监事、高级管理人员及从业 人员监督管理办法》等制度，对2024年度本人独立性进行了全面自查。 经自查，我在2024年度不存在影响担任中银国际证券股份有限公司独 立董事独立性的情形。 二、独立董事年度履职概 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥751.61 million, representing a 22.12% increase compared to ¥615.49 million in the same period last year[4]. - Net profit attributable to shareholders was ¥280.40 million, a 38.60% increase from ¥202.31 million year-on-year[4]. - The basic earnings per share increased by 42.86% to ¥0.10 from ¥0.07 in the previous year[5]. - Net profit for Q1 2025 was CNY 280.40 million, up 38.49% compared to CNY 202.48 million in Q1 2024[17]. - Commission and fee income surged to CNY 486.03 million, a significant increase of 46.25% from CNY 332.19 million in Q1 2024[17]. - The company's equity attributable to shareholders increased to CNY 18.26 billion, up from CNY 17.99 billion at the end of 2024, reflecting a growth of 1.48%[14]. - Basic earnings per share for Q1 2025 were CNY 0.10, compared to CNY 0.07 in Q1 2024, marking a 42.86% increase[18]. Assets and Liabilities - The total assets at the end of the reporting period were ¥71.04 billion, a decrease of 5.17% from ¥74.91 billion at the end of the previous year[5]. - Total assets as of March 31, 2025, amounted to CNY 71.04 billion, a decrease from CNY 74.91 billion at the end of 2024[14]. - Total liabilities decreased to CNY 52.78 billion from CNY 56.92 billion at the end of 2024, indicating a reduction of 7.48%[14]. Cash Flow - The net cash flow from operating activities was negative at (¥2.57 billion), compared to a positive cash flow of ¥1.94 billion in the same period last year[4]. - In Q1 2025, the net cash flow from operating activities was negative at RMB (2,570,866,942.20), compared to a positive RMB 1,937,068,091.78 in Q1 2024[20]. - Total cash inflow from operating activities in Q1 2025 was RMB 4,444,907,273.53, down from RMB 7,890,904,387.93 in Q1 2024, representing a decrease of approximately 43.5%[20]. - The net cash flow from investing activities was negative at RMB (755,207,999.44) in Q1 2025, an improvement from RMB (1,853,074,789.96) in Q1 2024[20]. - Cash and cash equivalents at the end of Q1 2025 stood at RMB 33,941,169,468.15, compared to RMB 26,074,243,953.17 at the end of Q1 2024, reflecting an increase of approximately 30.2%[20]. Shareholder Information - The company reported a total of 100,071 common shareholders at the end of the reporting period[9]. - The top shareholder, Zhongyin International Holdings Limited, holds 33.42% of the shares, totaling 928,421,054 shares[9]. Government Subsidies and Other Income - The company received government subsidies amounting to ¥344,550.76, which are closely related to its normal business operations[7]. - The company reported an investment income of CNY 94.34 million, a turnaround from a loss of CNY 50.62 million in the same period last year[17]. - Other comprehensive income after tax for Q1 2025 was a loss of CNY 7.35 million, compared to a gain of CNY 12.58 million in Q1 2024[17].

Financial Performance - The company's operating revenue for 2024 was approximately ¥2.89 billion, a decrease of 1.79% compared to ¥2.94 billion in 2023[40]. - The net profit attributable to shareholders of the parent company for 2024 was approximately ¥906.42 million, reflecting a slight increase of 0.64% from ¥900.69 million in 2023[40]. - The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was approximately ¥843.69 million, an increase of 5.48% compared to ¥799.87 million in 2023[40]. - The total assets of the company at the end of 2024 reached approximately ¥74.91 billion, representing a growth of 7.87% from ¥69.45 billion at the end of 2023[41]. - The total liabilities increased by 8.99% to approximately ¥56.92 billion at the end of 2024, up from ¥52.22 billion at the end of 2023[41]. - The equity attributable to shareholders of the parent company was approximately ¥17.99 billion at the end of 2024, an increase of 4.47% from ¥17.22 billion at the end of 2023[41]. - The company's total comprehensive income for 2024 was CNY 910,994,108.68, reflecting a growth of 1.38% from CNY 898,603,344.67 in 2023[50]. - The company reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[189]. Dividend Distribution - The company plans to distribute a cash dividend of 0.180 RMB per share, totaling 50,004,000 RMB, which represents 10.73% of the net profit attributable to shareholders for the year 2024[6]. - The total cash dividends for the year, including interim distributions, amount to 97,230,000 RMB[6]. Capital and Assets - The registered capital remains at 2.778 billion RMB, while the net capital increased to 15.31 billion RMB from 14.62 billion RMB in the previous year[16]. - The registered capital of the company increased from RMB 2,500,000,000 to RMB 2,778,000,000 after the initial public offering of 278,000,000 shares in 2020[29]. - The company has a total of 5 subsidiaries and 1 futures business department, all holding the securities and futures business licenses issued by the China Securities Regulatory Commission[21]. - The total amount of cash and cash equivalents rose by 61.86% to CNY 22,589,096,085.98 in 2024, compared to CNY 13,955,972,382.13 in 2023[52]. - The company's total assets as of December 31, 2024, reached 74.909 billion yuan, reflecting a growth of 7.87% compared to the beginning of the year[123]. Risk Management - The company faces various risks including market risk, credit risk, operational risk, liquidity risk, and reputational risk, as detailed in the management discussion section[10]. - The company has established a multi-level risk management organizational structure, ensuring comprehensive risk management coverage[156]. - The market risk management system utilizes Value at Risk (VaR) and stress testing limits, with all major market risk monitoring indicators exceeding regulatory standards[164]. - The company has implemented liquidity risk emergency management policies, including stress testing and emergency drills to ensure effective risk management[128]. - The company is focused on compliance risk management to avoid legal sanctions and regulatory penalties, ensuring adherence to laws and regulations[152]. Business Operations - The company operates 106 securities business departments, primarily located in economically developed regions in eastern and central China[35]. - The distribution of business departments includes 10 in Guangdong, 9 in Shanghai, and 8 in Liaoning, among others[36]. - The company has a total of 14 branch offices, with significant presence in major cities such as Beijing, Shanghai, and Shenzhen[37]. - The company achieved operating income of 216.05 million RMB in its futures brokerage business, with commission income of 110.72 million RMB[73]. - The company has established a comprehensive service system including institutional finance and trading, wealth management, and investment management, focusing on customer-centric strategies[85]. Future Outlook and Strategic Initiatives - The company anticipates that the capital market reforms will provide new opportunities for high-quality development in the securities industry[56]. - The company plans to enhance its financial advisory and M&A services in 2025, focusing on new quality productivity and increasing marketing reserves[63]. - The company aims to strengthen its traditional advantages in financial bond business and maintain its leading position in bond scale rankings in 2025[60]. - The company is committed to enhancing its active management capabilities and investment performance in asset management, with a focus on expanding the scale of fixed-income funds[143]. - The company plans to enhance its customer engagement strategies, targeting a 20% improvement in customer satisfaction scores[194]. Governance and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance integrity[4]. - The company has established a comprehensive compliance management structure, ensuring clear responsibilities across various governance levels[170]. - The company has conducted regular assessments and training to improve compliance management capabilities across departments and branches[171]. - The company has not engaged in any related party transactions that would affect its independence[180]. Market Position and Competitive Landscape - The company is actively transforming its investment business by focusing on high-dividend assets to reduce performance volatility[84]. - The company has received multiple awards, including "Best Local Investment Bank" and "Top 5 Emerging Investment Banks" from various financial institutions, highlighting its competitive position in the market[87][88]. - The contribution of large brokerage subsidiaries to group revenue has significantly increased in recent years, highlighting a clear trend towards group operations in the industry[140]. - The company is exploring potential acquisitions to enhance its market position, targeting firms with complementary technologies[188]. Technology and Innovation - The company is actively investing in new product development and technological advancements to stay competitive in the market[187]. - The company is exploring advanced financial technologies to improve the accuracy and effectiveness of its digital services[140]. - The company plans to continue increasing its information technology investments in 2025, focusing on enhancing digital transformation capabilities[175].

中银证券 2024 年度独立董事述职报告 独立董事 吴泽南 作为中银国际证券股份有限公司（以下简称"公司"）的独立董事， 我严格按照《公司法》《证券法》《证券公司治理准则》《证券公司 监督管理条例》《上市公司独立董事管理办法》等相关法律、法规以 及《公司章程》《董事会议事规则》《独立董事工作制度》的规定与 要求，在 2024 年度的工作中勤勉尽责地履行职责，充分发挥独立董 事专业优势和作用，积极维护公司的整体利益和全体股东的合法权益， 推动公司的科学健康持续发展。 一、独立董事的基本情况 吴泽南，博士。2015年9月就职于北京大学经济学院经济系，担 任博士生导师，任院长助理、经济系副主任及助理教授，2021年9月 晋升为长聘副教授，2025年2月晋升为长聘教授。2023年7月至今任北 京大学城市软实力研究院副院长。2024年12月起至今，任公司独立董 事。 | 姓名 | 职务 | 在其他单位担任的职务 | | | --- | --- | --- | --- | | | | 兼职单位 | 职务 | | 吴泽南 | 北京大学 独立董事 | | 院长助理 | | | | 北京大学城市软实力研究院 | 副院长 | 2 ...

经核查公司现任独立董事李军、王宇、江萍、刘军、吴 泽南的自查文件，并对照《上市公司独立董事管理办法》规 定的独立董事独立性要求逐项核查，上述人员未在公司担任 除独立董事以外的任何职务，也未在公司主要股东单位担任 任何职务，与公司以及主要股东之间不存在利害关系或其他 可能妨碍其进行独立客观判断的关系，不存在影响独立董事 独立性的情况，符合《上市公司独立董事管理办法》、《上 海证券交易所上市公司自律监管指引第 1 号－规范运作》 《证券基金经营机构董事、监事、高级管理人员及从业人员 监督管理办法》对独立董事独立性的要求。 中银国际证券股份有限公司董事会 二○二五年四月二十九日 中银国际证券股份有限公司董事会 关于独立董事独立性的专项意见 根据《上市公司独立董事管理办法》、《上海证券交易 所股票上市规则》和《上海证券交易所上市公司自律监管指 引第 1 号－规范运作》等要求，公司对现任五位独立董事 的独立性情况进行了评估并出具如下专项意见： ...

Core Viewpoint - The company, Songcheng Performance, is experiencing rapid growth in new projects and is focusing on optimizing existing projects while maintaining a stable expansion of its light-asset model, leading to a "buy" rating from analysts [1][2]. Financial Performance - In 2024, the company achieved a revenue of 2.417 billion yuan, representing a year-on-year increase of 25.49%, and a net profit attributable to shareholders of 1.049 billion yuan, marking a return to profitability [2][3]. - The significant growth in 2024 is attributed to a low base from the previous year, with a notable impact from the large impairment loss recorded by Huafang Group in 2023 [3]. - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling 525 million yuan, resulting in a dividend payout ratio of 50% [3]. Project Performance - Existing projects show mixed performance, with most under pressure; however, projects in Jiuzhai and Guilin have shown slight revenue growth [3]. - New projects are performing exceptionally well, with the Guangdong Foshan project achieving profitability in its first year and the Sanxia project generating over 100 million yuan in revenue within 100 days of opening [3]. - The company has signed a cooperation agreement for the "Silk Road Eternal Love" project, with expected service fees of 50 million yuan, set to open in July 2026 [4]. Future Outlook - For Q1 2025, the company reported a slight revenue decline to 561 million yuan, a year-on-year increase of 0.26%, and a net profit of 246 million yuan, down 2.18% [4]. - The company is expected to see continued growth in earnings per share (EPS) from 0.45 yuan in 2025 to 0.55 yuan in 2027, with corresponding price-to-earnings ratios of 21.3, 19.3, and 17.5 times [5]. - Analysts maintain a positive outlook on the company's growth potential, particularly with the successful launch of new projects and stable progress in light-asset contracts [5].