证券代码：601788 证券简称：光大证券 公告编号：2025-018 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 17 日 光大证券股份有限公司 2024年年度股东大会决议公告 (二)股东大会召开的地点：上海市静安区新闸路 1508 号静安国际广场 (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 | 882 | | --- | --- | | 其中：A 股股东人数 | 881 | | 境外上市外资股股东人数（H 股） | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 2,461,173,863 | | 其中：A 股股东持有股份总数 | 2,162,441,145 | | 境外上市外资股股东持有股份总数（H 股） | 298,732,718 | | 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 | 53.378599 | | ...

EF001 免責聲明 | | 除下表所述外，對個人股東股息稅率不屬10%的情況，按以下規定辦理：(1)低於10%稅 | | | --- | --- | --- | | | 率的協定國家居民，扣繳義務人可代為辦理享受有關協定待遇申請，經主管稅務機關審 核批准後，對多扣繳稅款予以退還；(2)高於10%低於20%稅率的協定國家居民，扣繳義 | | | | 務人派發股息紅利時應按協定實際稅率扣繳個人所得稅，無需辦理申請審批事宜；(3)沒 | | | | 有稅收協定國家居民及其他情況，扣繳義務人派發股息紅利時應按20%稅率扣繳個人所 | | | | 得稅。對內地企業投資者通過滬港通投資本公司H股取得的股利，本公司對內地企業投資 | | | | 者不代扣股息紅利所得稅款，應納稅款由企業自行申報繳納。 | | | | 有關H股股東股息所涉及的代扣所得稅信息之詳情，請參閲本公司日期為2025年5月8日 | | | | 之股東周年大會通告。 | | | | 有關代預扣所得稅之更多補充 | | | | 股東類型 （如適用） | 稅率 | | | 非居民企業 | | | | 根據《國家稅務總局關於中國居民 | | | | （非中國 ...

光大證券股份有限公司 Everbright Securities Company Limited 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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 公告 2024年度股東週年大會投票表決結果 及 派發2024年度末期股利 股東週年大會投票表決結果 董事會謹此宣佈，於2025年6月17日（星期二）舉行的股東週年大會上提呈的所 有決議案均獲正式通過。 分派本公司2024年末期股利 本公司將於2025年8月13日（星期三）向於2025年7月8日（星期二）名列本公司H 股股東名冊之H股股東派付截至2024年12月31日止年度末期股利每10股派發現 金股利人民幣1.086元（相等於港幣1.187268元）（含稅）。 光大證券股份有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司於2025年6 月17日（星期二）下午2時30分在中國上海市靜安區新閘路1508號靜安國際廣場召 開的本公司202 ...

Group 1 - The article discusses the impact of the recent Middle East tensions on asset prices, indicating that the overall effect on A-shares and Hong Kong stocks may be limited due to historical trends and low trade exposure to the region [3] - It suggests a cautious approach in the short term, focusing on existing main lines, while in the medium to long term, the duration of the conflict will dictate investment strategies, with a preference for growth if the conflict is short-lived, and resource, transportation, and dividend sectors if prolonged [3] Group 2 - The financial data for May shows a continued year-on-year decline in credit, with corporate medium and long-term loans acting as a stabilizing factor, while short-term loans exhibit a surge [4] - Social financing growth remains stable at 8.7%, supported by increased government bond issuance, while M1 growth rebounds from a low base and M2 growth remains stable [4] Group 3 - The article highlights the escalation of geopolitical risks in the Middle East, particularly the recent Israeli strikes on Iranian targets, which have led to a significant increase in oil prices, with Brent and WTI crude oil prices rising by 12.8% and 13.0% respectively [5] - The report emphasizes the strategic value of major oil companies and oil service firms in light of these geopolitical tensions [5] Group 4 - The coal mining industry report notes that the rise in oil prices is expected to boost bullish sentiment in the overseas coal market, with Brent crude futures increasing by 7.02% on June 13 and a total weekly increase of 11.67% [6] - It points out the historical correlation between coal, oil, and natural gas prices, suggesting that the rise in oil prices may influence coal prices moving forward [6]

Core Viewpoint - The article discusses the current state of credit growth in China, highlighting that while there is a slowdown in year-on-year growth, it does not indicate a decrease in credit support for the real economy. Instead, it suggests that measures like local government debt replacement are beneficial for economic growth [3][4]. Summary by Sections Credit Growth Analysis - In May 2025, new RMB loans amounted to 620 billion, an increase of 340 billion from April but a decrease of 330 billion compared to the same month last year [3]. - The replacement of local government hidden debts is a significant factor affecting credit growth, allowing local governments to alleviate financial burdens [3]. Economic Indicators - Weakening effective demand is reflected in recent economic data, with manufacturing PMI for April and May at 49.0% and 49.5%, respectively, lower than the first quarter average of 49.9% [3]. - The PPI year-on-year growth rates for April and May were -2.7% and -3.3%, respectively, also lower than the first quarter average of -2.3% [3]. Historical Context and Policy Response - Historical experiences show that proactive policy responses can maintain or even strengthen credit support for the economy despite external shocks, as seen during the COVID-19 pandemic years [4]. - In 2022, a new policy tool was introduced to address capital shortages for major projects, leading to a significant increase in effective credit demand [4]. New Financial Tools - A new type of policy financial tool was proposed in a recent political meeting, which could theoretically leverage 20 trillion in credit demand for every 500 billion issued [5]. - This tool is seen as a key measure to promote credit issuance, suggesting a positive outlook for future credit growth [5]. Credit Growth Perspective - The article questions whether more credit growth is always beneficial, noting that excessive competition among financial institutions can lead to unsustainable practices [5]. - A moderate decline in credit growth is considered normal amid economic restructuring and increased direct financing [6]. Target Growth Rates - Considering various factors, a credit growth rate of around 7.5% for major state-owned banks is viewed as satisfactory in light of the GDP and CPI growth targets of approximately 5% and 2%, respectively [6].

光大证券股份有限公司 二、本次上市流通的限售股形成后至今公司股本数量变化情况 公司于 2023 年 5 月 15 日召开 2022 年年度股东大会，会议审议通过了《关 于公司 2022 年度利润分配及资本公积转增股本方案的议案》，以方案实施前的公 司总股本 101,064,000 股为基数，向全体股东每 10 股以资本公积金转增 4 股，共 计转增 40,425,600 股，转增后公司的总股本增加至 141,489,600 股。 光大证券股份有限公司（以下简称"光大证券"或"保荐机构"）作为苏州 纳芯微电子股份有限公司（以下简称"公司"或"纳芯微"）首次公开发行A股 股票并在科创板上市的保荐机构和持续督导机构，根据《证券发行上市保荐业务 管理办法》《上海证券交易所科创板股票上市规则》以及《科创板上市公司持续 监管办法（试行）》等有关法律法规和规范性文件，对纳芯微首次公开发行部分 限售股上市流通的事项进行了审慎的核查，核查情况及意见如下： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意苏州纳芯微电子股份有限公 司首次公开发行股票注册的批复》 （证监许可〔2022〕427 号），同意公司 ...

Core Viewpoint - The company intends to use the remaining over-raised funds to permanently supplement its working capital, which aligns with its operational needs and benefits all shareholders [1][2][5]. Fundraising Overview - The company raised a total of RMB 581,118.00 million by issuing 25,266,000 shares at RMB 230.00 per share, with a net amount of RMB 558,124.66 million after deducting various fees [1][2]. - The funds have been deposited in a special account approved by the board and are subject to a tripartite supervision agreement with the sponsor and the bank [1]. Investment Project Status - The company has completed the investment projects related to the initial public offering, specifically the "Signal Chain Chip Development and System Application Project" and the "R&D Center Construction Project," and has approved the conclusion of these projects [2]. Plan for Using Over-raised Funds - The company plans to use the remaining over-raised funds to meet its working capital needs, improve fund utilization efficiency, reduce financial costs, and enhance profitability, all while ensuring that the original fundraising projects continue as planned [2][3]. Related Commitments and Explanations - The company commits that the total amount used for working capital from over-raised funds will not exceed 30% of the total over-raised funds within any 12-month period [4]. - The company will not engage in high-risk investments or provide financial assistance to entities outside its subsidiaries within 12 months after using the funds [4]. Review Procedures - The company’s board and supervisory board have approved the use of RMB 71,926.68 million of the remaining over-raised funds for working capital, pending approval from the shareholders' meeting [4]. Supervisory Board Opinion - The supervisory board believes that the use of over-raised funds for working capital complies with relevant regulations and does not harm shareholder interests, thus supporting the proposal [4][5]. Sponsor's Verification Opinion - The sponsor has verified that the use of remaining over-raised funds has been approved by the necessary corporate bodies and complies with regulatory requirements, supporting the efficiency and profitability of the company [5].

Group 1 - The article discusses the recent decline in the U.S. inflation rate, with May's CPI data showing a decrease that was below market expectations. This decline is attributed to low energy prices influenced by trade disputes and OPEC+ production increases, as well as companies stabilizing product prices by absorbing tariff costs [4] - It highlights that only certain sectors are experiencing price increases, while significant categories like clothing and automotive prices continue to fall. Additionally, consumer confidence has been impacted by tariffs, leading to a decrease in demand for travel-related services [4] Group 2 - The article reports on a fire at Jiangxi Yangfan's workshop, which may affect the supply of light initiator intermediates. The demand for light initiators is driven by the PCB industry, with Jiurich and Yangfan being major suppliers. The domestic production and sales of light initiators are on the rise, and product prices are expected to rebound from their lows [5] - It also notes the recent frequency of accidents in chemical enterprises, which has impacted the supply of chemicals like caprolactam. The article suggests focusing on the nylon and specialty nylon supply chain, as caprolactam is used to produce nylon 6, with a current production capacity of 7.1 million tons per year in China [6]

Core Viewpoint - The financial sector experienced a significant surge in response to merger rumors, with various ETFs and securities showing notable gains, indicating a positive market sentiment towards potential consolidation in the industry [1][4][5]. ETF Performance - The Hong Kong Securities ETF rose by 3.11%, while other financial ETFs also saw increases, with the Securities ETF Leader up by 2.19% and the Insurance Securities ETF up by 2.18% [2]. - The top-performing ETFs included the Hong Kong Securities ETF, which has a year-to-date increase of 14.24%, and the Port Hong Kong Financial ETF, which has increased by 18.70% this year [2]. Market Catalysts - Multiple catalysts are driving the sector's performance, including a policy from the Central Committee and State Council that allows companies from the Guangdong-Hong Kong-Macao Greater Bay Area to list on the Shenzhen Stock Exchange, potentially boosting IPO activities and improving brokerage revenues [4]. - Recent approvals from the China Securities Regulatory Commission (CSRC) for several brokerages to change their actual controllers to Central Huijin have reignited market expectations for mergers and acquisitions among brokerages [4][6]. Regulatory Support - The Central Financial Work Conference emphasized the need to accelerate the construction of a strong financial sector and encouraged mergers and acquisitions to enhance the competitiveness of investment banks [6]. - The CSRC's support for mergers among brokerages under the same controlling entity is expected to lead to increased consolidation activity in the sector [6][7]. Share Buybacks - There has been a rise in "cancellation-style" share buybacks among brokerages, with six firms having repurchased a total of 129 million shares worth 1.31 billion yuan this year, reflecting management confidence in their companies' value [7]. ETF Size and Fees - The A-share financial-themed ETFs tracking various indices have seen significant growth, with the largest being the Guotai Junan Securities ETF and the Huabao Securities ETF, with sizes of 29.847 billion yuan and 22.983 billion yuan, respectively [8]. - The E Fund Hong Kong Securities ETF has also experienced rapid growth, reaching a size of 7.897 billion yuan, with competitive management and custody fees of 0.15% and 0.05% [9][10].

Group 1 - The core viewpoint is that the recent equity adjustments in "Huijin" brokerages are expected to drive a new wave of mergers and acquisitions in the securities industry, focusing on administrative and market-based mergers under the same controlling entity [1][3]. - As of June 11, broker stocks showed strong performance, with notable increases in shares such as Xinda Securities (+7.83%) and Industrial Securities (+5.07%) [2][1]. - The China Securities Regulatory Commission has approved Central Huijin Investment Co., Ltd. as the actual controller of several brokerages, including Changcheng Guorui Securities and Dongxing Securities, which has reignited market expectations for mergers [2][1]. Group 2 - Analysts believe that regulatory encouragement for industry consolidation, along with policies aimed at high-quality development, positions mergers and acquisitions as effective means for brokers to achieve external growth and enhance overall industry competitiveness [3]. - The focus is on two main areas: brokerages under the same controlling entity and those with high potential for market-based mergers, indicating a promising outlook for the brokerage and financial technology sectors [3]. - Positive policy signals since the beginning of the year, including interest rate cuts, are expected to support liquidity and boost market confidence, with a forecast for sustained high trading activity through 2025 [3].