1 方正证券股份有限公司 章程 二零二四年五月 目 录 第一章 总则 第五章 股东和股东大会 第六章 董事会 第九章 内部控制 第十章 财务会计制度、利润分配和审计 2 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 党的组织 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第一节 董事 第二节 独立董事 第三节 董事会 第四节 董事会专门委员会 第五节 董事会秘书 第七章 执行委员会、总裁及其他高级管理人员 第八章 监事会 第一节 监事 第二节 监事会 第三节 监事会会议 第十一章 通知 第十二章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十三章 章程修改 第十四章 附则 3 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 方正证券股份有限公司 章 程 第一章 总则 第一条 为维护方正证券股份有限公司（以下简称"公司"或"本公司"）、 股东和债权人的合法权益，规范公司的组织和行为，根 ...

方正证券股份有限公司独立董事工作制度 （2010 年 9 月 16 日公司创立大会暨 2010 年第一次股东大会制定，2022 年 9 月 8 日公司第二次临时股东大会第一次修订，2024 年 5 月 30 日公司 2023 年年度股东 大会第二次修订） 第一章 总则 第一条 为规范和保障方正证券股份有限公司（简称"公司"或"本公司"） 独立董事依法履行职责，提升公司治理水平，根据《中华人民共和国公司法》（以 下简称《公司法》）《证券公司治理准则》《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》《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》等有关法律、行政法规、 部门规章、规范性文件、监管规则（统称"法律法规"）和公司《章程》的有关 规定，结合公司实际，制定本制度。 第二条 独立董事是指不在公司担任除独立董事外的其他职务，并与公司及 公司及公司主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能 影响其进行独立客观判断关系的董事。 第三条 独立董事对公司及全体股东负有诚信与勤勉的义务。独立董事应当 按照相关法律法规和公司《章程》的要求，认 ...

北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.:010-50867666 传真/Fax:010-56916450 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 北京市康达律师事务所 关于方正证券股份有限公司 2023 年年度股东大会的法律意见书 康达股会字 2024 第 2011 号 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以下简称 "《股东大会规则》"）、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 《方正证券股份有限公司章程》（以下简称"《公司章程》"）等规定，就本次会议的 召集和召开程序、出席会 ...

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：2024 年 5 月 30 日 （二）股东大会召开的地点：北京市朝阳区朝阳门南大街 10 号兆泰国际中 心 A 座 19 层会议室 （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： 证券代码：601901 证券简称：方正证券 公告编号：2024-015 | 1、出席会议的股东和代理人人数 | 90 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 4,339,140,839 | | 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 | 52.7100 | | 份总数的比例（%） | | 方正证券股份有限公司 2023 年年度股东大会决议公告 二、议案审议情况 （一）非累积投票议案 1、议案名称：2023 年度董事会工作报告 （四）表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况 等。 本次股东大会由董事会召集，董事 ...

证券Ⅱ 分析师：张洋 登记编码：S0730516040002 核心业务优势稳固，重配债轻配股推动业绩逆势连续增长 z hangyang-yjs@ccnew.com 021-50586627 ——方正证券(601901) 2023 年年报及 2024年一季报点评 证券研究报告-年报点评 增持(首次) 市场数据(2024-05-08) 发布日期：2024年05月09日 收盘价(元) 8.76 2023年年报及 2024年一季报概况:方正证券2023年实现营业收 一年内最高/最低(元) 10.05/6.29 入71.19亿元，同比-8.46%；实现归母净利21.52亿元，同比+0.21%； 沪深300指数 3,630.22 加权平均净资产收益率4.88%，同比-0.21个百分点。2023年拟10派 市净率(倍) 1.56 0.13元（含税）。24Q1实现营业收入19.85亿元，同比+11.97%；实现 总市值(亿元) 721.13 归母净利7.84亿元，同比+41.06%。 流通市值(亿元) 721.13 点评：1.23 年客户数和代买市场份额双升，机构经纪业务快速破局，合 基础数据(2024-03-31) 并口径 ...

方正证券股份有限公司 2023 年年度股东大会 会议资料 2024 年 5 月 30 日·北京 会议议程 现场会议时间：2024 年 5 月 30 日 14:20 现场会议地点：北京市朝阳区朝阳门南大街 10 号兆泰国际中心 A 座 19 层会议室 1 一、宣布会议开始 二、宣布出席现场会议的股东人数、代表股份数 三、推举计票人、监票人 四、审议议案 五、股东提问，董事、监事、高管人员回答股东提问 六、投票表决 七、休会（等待网络表决结果，工作人员统计表决结果） 八、宣布表决结果 九、律师宣布法律意见书 十、宣布会议结束 方正证券股份有限公司 2023年年度股东大会会议须知 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大 会的顺利召开，根据中国证监会《上市公司股东大会规则》、公司《章程》和《股 东大会议事规则》等规定，特制定股东大会会议须知如下： 一、本公司根据《公司法》《证券法》《上市公司股东大会规则》和公司《章 程》的规定，认真做好召开股东大会的各项工作。 二、股东大会期间，全体参会人员应以维护股东的合法权益、确保大会的正 常秩序和议事效率为原则，依法行使权利，认真履行义务。大会设会务 ...

方正证券股份有限公司 关于召开 2023 年年度股东大会的通知 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： 一、召开会议的基本情况 （一）股东大会类型和届次 证券代码：601901 证券简称：方正证券 公告编号：2024-014 2023 年年度股东大会 （二）股东大会召集人：董事会 （三）投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式 （四）现场会议召开的日期、时间和地点 召开的日期时间：2024 年 5 月 30 日 14 点 20 分 召开地点：北京市朝阳区朝阳门南大街 10 号兆泰国际中心 A 座 19 层会议室 （五）网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 30 日 至 2024 年 5 月 30 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 股东大会召 ...

Investment Rating - The report maintains a "Recommended" investment rating for the company, with a target price of 9.3 CNY and a current price of 8.09 CNY [1]. Core Insights - The issuance of 1 billion CNY short-term bonds at a coupon rate of 2.03% marks a significant improvement in the company's fundamentals. This is the first short-term bond issuance since the resolution of shareholder risk events [1]. - The short-term bonds will help the company in two main ways: 1. Increase interest margins by replacing high-interest existing bonds, as recent bond market rates have been declining [1]. 2. Enhance Return on Equity (ROE) by expanding the company's leverage capacity through the addition of new financing tools [1]. - The company is expected to see an increase in ROE, with projections of 0.31, 0.35, and 0.39 for the years 2024, 2025, and 2026 respectively, alongside an estimated EPS of 0.26, 0.31, 0.35, and 0.39 for the same years [1]. Financial Summary - The company’s total assets are projected to grow from 222.44 billion CNY in 2023 to 274.22 billion CNY by 2026 [4]. - Total revenue is expected to increase from 7,119 million CNY in 2023 to 10,438 million CNY in 2026, reflecting a growth rate of 11% [4]. - Net profit attributable to shareholders is forecasted to rise from 2,152 million CNY in 2023 to 3,176 million CNY in 2026, with a growth rate of 12% [4].

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 9.3 CNY, reflecting a valuation of 1.6 times the price-to-book ratio for 2024 [2][5]. Core Insights - The company's Q1 2024 performance exceeded expectations, driven by significant leverage increase and improved self-operated yield, with total revenue reaching 1.98 billion CNY (up 12% year-on-year) and net profit attributable to shareholders at 780 million CNY (up 41% year-on-year) [2]. - The growth in revenue was primarily from heavy capital business, which saw a net income increase of 200 million CNY year-on-year, while light capital business revenue remained stable [2]. - The financial leverage ratio increased to 4.1 times (up 0.58 times year-on-year), indicating potential for further leverage growth [2]. Summary by Sections Revenue and Profitability - Total revenue for Q1 2024 was 1.98 billion CNY, with a year-on-year growth of 12% [2]. - Net profit attributable to shareholders was 780 million CNY, reflecting a year-on-year increase of 41% [2]. - The return on equity (ROE) for the quarter was 1.7%, up 0.4 percentage points year-on-year [2]. Business Segments - Heavy capital business revenue increased significantly, with net interest income at 240 million CNY (down 150 million CNY year-on-year) due to higher interest expenses [2]. - Self-operated income, primarily from fixed income, reached 1.79 billion CNY, up 380 million CNY year-on-year, with a self-operated yield of 0.7% (up 0.2 percentage points year-on-year) [2]. - Light capital business revenue showed mixed results, with brokerage income stable at 810 million CNY and investment banking income down to 40 million CNY [2]. Financial Projections - The report forecasts earnings per share (EPS) for 2024, 2025, and 2026 at 0.31 CNY, 0.35 CNY, and 0.39 CNY respectively, with corresponding book values per share (BPS) of 5.78 CNY, 6.11 CNY, and 6.48 CNY [2]. - The price-to-earnings (P/E) ratios are projected at 29.5, 24.8, and 22.2 for the years 2023, 2024, and 2025 respectively [3].

Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,984,787,239.23, representing an increase of 11.97% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company reached CNY 784,306,322.29, marking a significant increase of 41.06% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 764,284,012.68, reflecting a growth of 40.69% compared to the previous year[4] - The basic earnings per share (EPS) was CNY 0.10, which is an increase of 42.86% year-on-year[4] - Operating profit for Q1 2024 was ¥860,657,730.86, an increase from ¥657,874,406.48 in Q1 2023[17] - The company reported a net profit margin improvement, with total profit reaching ¥854,268,823.78 compared to ¥657,601,560.61 in the same quarter last year[17] - Net profit for Q1 2024 was approximately ¥775.89 million, a significant increase from ¥583.70 million in Q1 2023, representing a year-over-year growth of 33%[18] - The total comprehensive income for Q1 2024 reached approximately ¥946.11 million, compared to ¥633.79 million in Q1 2023, indicating a growth of 49.2%[18] - The basic and diluted earnings per share for Q1 2024 were both ¥0.10, up from ¥0.07 in Q1 2023, reflecting a 42.9% increase[18] - The net commission and fee income for Q1 2024 was ¥801,390,045.64, an increase from ¥763,851,759.47 in Q1 2023, reflecting a growth of 4.9%[24] - The company reported a total comprehensive income of ¥967,251,745.60 for Q1 2024, compared to ¥464,532,908.56 in Q1 2023, indicating a significant increase of 108.5%[25] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 230,729,801,389.58, a 3.73% increase from the end of the previous year[5] - The equity attributable to shareholders of the listed company was CNY 46,194,217,201.40, up by 2.11% from the previous year[5] - Total assets amounted to ¥230,729,801,389.58, up from ¥222,441,655,763.08 year-over-year[16] - Total liabilities increased to ¥183,692,010,388.43 from ¥176,350,360,715.00, reflecting a growth of 7.63%[16] - The company's total equity attributable to shareholders rose to ¥46,194,217,201.40, compared to ¥45,239,301,251.60 in the previous year[16] - Total assets increased to ¥206,809,791,062.21 in Q1 2024, up from ¥196,571,728,942.97 in Q1 2023, marking a growth of 5.6%[23] - Total liabilities rose to ¥161,594,244,271.97 in Q1 2024, compared to ¥152,323,820,419.55 in Q1 2023, indicating a 6.5% increase[23] - The company's equity increased to ¥45,215,546,790.24 in Q1 2024, up from ¥44,247,908,523.42 in Q1 2023, representing a growth of 2.2%[23] Cash Flow - The net cash flow from operating activities was negative at CNY -5,823,832,416.85, a decrease of 704.53% compared to the same period last year[4] - The net cash flow from operating activities for Q1 2024 was negative at approximately -¥5.82 billion, compared to a positive cash flow of ¥963.36 million in Q1 2023[19] - The total cash and cash equivalents at the end of Q1 2024 were approximately ¥57.44 billion, a decrease from ¥54.81 billion at the end of Q1 2023[20] - The company reported a net increase in funds borrowed from other financial institutions of approximately -¥3.01 billion in Q1 2024, compared to an increase of ¥905 million in Q1 2023[19] - Total cash inflow from operating activities in Q1 2024 was 7,052,646,768.69 RMB, down from 11,971,801,798.85 RMB in the same period last year[27] - The company reported a net increase of 8,949,099,374.70 RMB in financial assets held for trading in Q1 2024, compared to 6,146,386,645.79 RMB in Q1 2023[26] Investments and Future Plans - The company reported a significant increase in investment and trading business income, which was the main driver for the profit growth[7] - The company plans to continue expanding its investment and trading operations to sustain growth in future quarters[7] - The company plans to expand its market presence and invest in new technologies to drive future growth[17] - The company is focusing on enhancing its asset management and investment banking services to improve revenue streams[17] Financial Instruments and Other Assets - The company's total trading financial assets increased to ¥65,299,896,891.67 from ¥56,075,442,932.77, reflecting a growth of about 16.4%[14] - The company's other equity instrument investments rose to ¥2,106,858,043.06 from ¥1,189,294,742.09, marking an increase of approximately 77.1%[14] - The company's financial investments in other debt instruments increased to ¥42,727,514,303.35 from ¥41,402,799,806.36, reflecting a growth of approximately 3.2%[14] - The company's fixed assets decreased to ¥431,691,950.21 from ¥453,879,502.42, indicating a decline of about 4.9%[14] - The total amount of margin financing provided by the company was ¥31,165,364,760.04, down from ¥32,480,075,192.96, which is a decrease of about 4.1%[14] - The total amount of buy-back financial assets decreased to ¥10,729,756,181.77 from ¥12,944,406,691.72, indicating a decline of about 16.9%[14]