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。 中國上海 2025年3月27日 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 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條刊發。 根據中華人民共和國的有關法例規定，光大證券股份有限公司（「本公司」）在上海 證券交易所網站(www.sse.com.cn )刊發了《光大證券股份有限公司關於向專業投資 者公開發行公司債券獲得中國證券監督管理委員會註冊批覆的公告》。茲載列如 下，僅供參閱。 承董事會命 光大證券股份有限公司 董事長 趙陵 於本公告日期，本公司董事會成員包括趙陵先生（董事長、執行董事）、劉秋明先 生（執行董事、總裁）、馬韌韜女士（非執行董事）、連涯鄰先生（非執行董事）、尹 岩武先生（非執行董事）、秦小徵先生（非執行董事）、任永平先生（獨立非執行董 ...

证券代码：601788 股票简称：光大证券 公告编号：临 2025-006 H 股代码：6178 H 股简称：光大证券 光大证券股份有限公司 关于向专业投资者公开发行公司债券 获得中国证券监督管理委员会注册批复的公告 光大证券股份有限公司（以下简称公司）近日收到中国证券监督 管理委员会《关于同意光大证券股份有限公司向专业投资者公开发行 公司债券注册的批复》（证监许可〔2025〕557 号），批复内容如下： 一、同意公司向专业投资者公开发行面值总额不超过 200 亿元公 司债券的注册申请。 1 二、本次发行公司债券应严格按照报送上海证券交易所的募集说 明书进行。 三、本批复自同意注册之日起 24 个月内有效，公司在注册有效 期内可以分期发行公司债券。 四、自同意注册之日起至本次公司债券发行结束前，公司如发生 重大事项，应及时报告并按有关规定处理。 务。 特此公告。 公司将按照有关法律法规和上述注册文件的要求及公司股东大 会的授权办理本次公司债券发行的相关事宜，并及时履行信息披露义 光大证券股份有限公司董事会 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 ...

光大证券股份有限公司（以下简称公司）近日收到中国证券监督 管理委员会《关于同意光大证券股份有限公司向专业投资者公开发行 次级公司债券注册的批复》（证监许可〔2025〕558 号），批复内容如 下： 一、同意公司向专业投资者公开发行面值总额不超过 150 亿元次 级公司债券的注册申请。 证券代码：601788 股票简称：光大证券 公告编号：临 2025-007 H 股代码：6178 H 股简称：光大证券 光大证券股份有限公司 关于向专业投资者公开发行次级公司债券 获得中国证券监督管理委员会注册批复的公告 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。 1 会的授权办理本次次级公司债券发行的相关事宜，并及时履行信息披 露义务。 特此公告。 光大证券股份有限公司董事会 2025 年 3 月 27 日 2 二、本次发行次级公司债券应严格按照报送上海证券交易所的募 集说明书进行。 三、本批复自同意注册之日起 24 个月内有效，公司在注册有效 期内可以分期发行次级公司债券。 四、自同意注册之日起至本次次级公司债券发行结束前，公司如 发生 ...

Revenue and Expenditure Trends - In January-February 2025, the cumulative year-on-year growth rate of general public budget revenue was -1.6%, down from 1.3% in December 2024[1] - Cumulative year-on-year growth rate of general public budget expenditure was 3.4%, slightly down from 3.6% in the previous month[1] - Government fund budget revenue saw a cumulative year-on-year decline of -10.7%, an improvement from -12.2% previously[1] Tax Revenue Insights - Tax revenue decreased by 3.9% year-on-year, marking a negative growth trend[3] - Corporate income tax fell by 10.4% year-on-year, significantly weaker than previous values[4] - Personal income tax recorded a growth of 26.7% year-on-year, primarily due to the timing of year-end bonuses[4] Government Fund Performance - Government fund budget expenditure grew by 1.2% year-on-year, up from 0.2% previously[22] - Land transfer income saw a cumulative year-on-year decline of -15.7%, continuing a downward trend for eleven months[22] - The issuance of new local special bonds reached 596.8 billion yuan, completing 13.6% of the annual plan[34] Fiscal Policy Outlook - The strong performance of public budget expenditure reflects a proactive fiscal policy at the beginning of the year[2] - The acceleration of local special bond issuance is expected to enhance local fiscal revenue and maintain strong fiscal expenditure momentum[39] - Risks include potential delays in policy implementation and major project commencements not meeting expectations[40]

报告摘要 本周猪价上涨 根据博亚和讯，3月21日全国外三元生猪均价为14.71元/kg，周环比+0.96%，15公斤仔猪均价35.41元/公 斤，周环比上涨3.90%。根据涌益咨询数据，本周商品猪出栏均重为128.40kg，周环比上升0.48kg。屠宰场 冻品库容率为14.31%，环比上升0.55pct。补库带动的均重上升以及肥标价差收敛仍在持续，需求疲软抑制 价格上行，短期内猪价仍将维持窄幅震荡。 2025中国种子大会归来，如何看待行业热点与发展趋势 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 （1）热点育种方向：在种质创新的基础上，利用生物育种技术结合常规育种，具体来看，主粮育种重点 方向包括1）水稻：抗稻飞虱、超高产绿色、耐极端高温、耐盐碱、特早熟等；2）小麦：抗赤霉病、养 ...

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。 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 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條刊發。 根據中華人民共和國的有關法例規定，光大證券股份有限公司（「本公司」）在上海 證券交易所網站(www.sse.com.cn )刊發了《光大證券股份有限公司關於召開2024年 度業績說明會的公告》。茲載列如下，僅供參閱。 承董事會命 光大證券股份有限公司 董事長 趙陵 中國上海 2025年3月21日 於本公告日期，本公司董事會成員包括趙陵先生（董事長、執行董事）、劉秋明先 生（執行董事、總裁）、馬韌韜女士（非執行董事）、連涯鄰先生（非執行董事）、尹 岩武先生（非執行董事）、秦小徵先生（非執行董事）、任永平先生（獨立非執行董 事）、殷俊明先生（獨立非執行董事）、劉 ...

光大证券股份有限公司 关于召开 2024 年度业绩说明会的公告 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： 会议召开时间：2025 年 3 月 28 日（星期五）13:30-15:00 证券代码：601788 股票简称：光大证券 公告编号：临 2025-005 H 股代码：6178 H 股简称：光大证券 会议召开地点：上海证券交易所上证路演中心 （ https://roadshow.sseinfo.com/ ） 、 路 演 中 平 台 （https://www.roadshowchina.cn/Meet/detail.html?mid=24854） 会议召开方式：视频结合网络互动 投资者可于 2025 年 3 月 21 日（星期五）至 3 月 27 日（星期 四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 ebs@ebscn.com 进行提问。公司将在说明会上对投资者 普遍关注的问题进行回答。 光大证券股份有限公司（以下简称公司）将于 2025 年 3 月 28 日披露公 ...

Core Viewpoint - The company is actively engaging in rural revitalization efforts, aligning with national policies and utilizing its financial expertise to support agricultural development and poverty alleviation initiatives [1][6]. Financing and Investment - The company is expanding financing channels to support rural revitalization, utilizing methods such as bond issuance and asset-backed securities to raise funds for poverty-stricken areas and agricultural enterprises [2][3]. - In 2024, the company assisted Hebei Province's agricultural group in issuing a targeted debt financing tool amounting to 250 million yuan, aimed at promoting agricultural concentration and scale [2]. - The total financing scale for real economy services reached 87.22 billion yuan in 2024, marking a 13.4% year-on-year increase, with 2.467 billion yuan raised through rural revitalization bonds [3]. Talent Development - The company is implementing talent support programs to enhance financial literacy and professional skills in targeted rural areas, conducting various training sessions on investment and government funding [4]. - It has established partnerships with local party organizations to strengthen grassroots governance and promote community engagement in rural revitalization efforts [4]. Targeted Assistance Measures - The company has committed 7 million yuan in targeted assistance funds for key rural revitalization projects in Xintian County, alongside additional donations to support local agricultural initiatives [5]. - Since 2016, the company has executed 122 assistance projects in Xintian County, benefiting over 400,000 people and fostering the development of various agricultural industries [5].

Core Viewpoint - BYD has launched its new generation pure electric technology platform, the Super e-platform, which features significant advancements in high-voltage fast charging technology, enhancing performance and efficiency in the electric vehicle sector [1][2]. Group 1: Technological Advancements - The Super e-platform utilizes the world's first full-domain kilovolt high-voltage architecture, upgrading battery, motor, and control systems to 1000V, achieving a maximum charging current of 1000A, which is a 25% efficiency improvement over the current mainstream 800V platforms [2]. - BYD has developed a 1500V-rated silicon carbide power module to meet the requirements of the 1000V voltage platform, enhancing system efficiency and reliability [2]. - The platform features a safety redundancy design with a 1500V/1200A energy cutoff switch that can disconnect the high-voltage circuit within 2 milliseconds [2]. Group 2: Motor and Battery Innovations - The Super e-platform's motor achieves a maximum speed of 30,511 rpm, utilizing innovative materials such as 1000MPa high-strength silicon steel sheets and aerospace aluminum end plates, resulting in a power density of 16.4 kW/kg and a single motor power output of 580 kW, surpassing traditional V12 engines [3]. - The platform introduces a 10C megawatt fast-charging battery, with a global mass production maximum charging power of 1 megawatt (1000 kW), allowing for a range increase of over 400 kilometers in just 5 minutes of charging [4]. Group 3: Market Opportunities - The rise of high-voltage fast charging necessitates collaborative upgrades across battery, vehicle, and charging infrastructure, creating investment opportunities in high-performance lithium battery materials, electric vehicle architecture, and ultra-fast charging stations [5]. - Key areas for investment include fast-charging batteries, vehicle architecture requiring high-voltage designs, and ultra-fast charging stations with liquid cooling modules and updated components [5].

Core Viewpoint - The major shareholders of Xiang Teng New Materials (001373.SZ) plan to reduce their holdings due to personal funding needs, with no impact on the company's control or governance structure [1][2]. Shareholder Reduction Plan - Major shareholders, including Shanghai Xianghe Yongyuan and others, plan to reduce their holdings by a total of up to 2,060,606 shares (3% of total shares) and individual reductions by executives Wang Jian and Yu Junde [1][2]. - The reduction will occur within three months starting from April 10, 2025, through centralized bidding or block trading [1]. Company Background - Xiang Teng New Materials was listed on the Shenzhen Stock Exchange on June 1, 2023, with an initial public offering (IPO) of 17,171,722 shares at a price of 28.93 yuan per share, raising a total of 496.78 million yuan [6][7]. - The net amount raised after deducting issuance costs was 442.33 million yuan, which was less than the originally planned amount by 59.43 million yuan [7]. Financial Performance - The company forecasts a significant decline in net profit for the fiscal year 2024, estimating a profit of 12 million to 15.5 million yuan, representing a decrease of 56.01% to 65.94% compared to the previous year [8]. - The net profit after excluding non-recurring gains and losses is expected to be between 11 million and 14.5 million yuan, reflecting a decline of 56.75% to 67.19% [8].