Group 1 - The total social financing scale stock as of the end of August 2025 is 433.66 trillion yuan, with a year-on-year growth of 8.8% [1] - The balance of RMB loans to the real economy is 265.42 trillion yuan, showing a year-on-year increase of 6.6% [1] - The balance of foreign currency loans to the real economy, converted to RMB, is 1.19 trillion yuan, reflecting a year-on-year decrease of 21% [1] Group 2 - The balance of entrusted loans is 11.15 trillion yuan, with a year-on-year decline of 0.6% [1] - The balance of trust loans is 4.49 trillion yuan, indicating a year-on-year growth of 5.5% [1] - The balance of undiscounted bank acceptance bills is 2.12 trillion yuan, down 4.1% year-on-year [1] Group 3 - The balance of corporate bonds is 33.47 trillion yuan, with a year-on-year increase of 3.7% [1] - The balance of government bonds is 91.36 trillion yuan, showing a significant year-on-year growth of 21.1% [1] - The balance of domestic stocks of non-financial enterprises is 11.99 trillion yuan, reflecting a year-on-year increase of 3.4% [1] Group 4 - As of the end of August, RMB loans to the real economy account for 61.2% of the total social financing scale stock, down 1.2 percentage points year-on-year [2] - The proportion of foreign currency loans to the real economy is 0.3%, down 0.1 percentage points year-on-year [2] - The share of entrusted loans is 2.6%, down 0.2 percentage points year-on-year [2] Group 5 - The proportion of trust loans is 1%, down 0.1 percentage points year-on-year [2] - The share of undiscounted bank acceptance bills is 0.5%, down 0.1 percentage points year-on-year [2] - The balance of corporate bonds accounts for 7.7% of the total, down 0.4 percentage points year-on-year [2] Group 6 - The share of government bonds is 21.1%, up 2.2 percentage points year-on-year [2] - The proportion of domestic stocks of non-financial enterprises is 2.8%, down 0.1 percentage points year-on-year [2]

Core Insights - The total social financing scale increased by 4.66 trillion yuan year-on-year, reaching 26.56 trillion yuan in the first eight months of 2025 [1] Summary by Category Loans to the Real Economy - The increase in RMB loans to the real economy was 12.93 trillion yuan, which is a decrease of 485.1 billion yuan compared to the same period last year [1] - Foreign currency loans to the real economy decreased by 81.6 billion yuan, a reduction of 76.7 billion yuan year-on-year [1] Other Financing Methods - Entrusted loans decreased by 85.5 billion yuan, which is a year-on-year increase of 30.7 billion yuan in the reduction [1] - Trust loans increased by 194.2 billion yuan, but this is a decrease of 161.4 billion yuan compared to the previous year [1] - Undiscounted bank acceptance bills decreased by 22.3 billion yuan, which is a reduction of 256.6 billion yuan year-on-year [1] Corporate and Government Financing - Net financing through corporate bonds was 1.56 trillion yuan, a decrease of 221.4 billion yuan year-on-year [1] - Net financing through government bonds reached 10.27 trillion yuan, which is an increase of 4.63 trillion yuan compared to the previous year [1] - Domestic stock financing for non-financial enterprises amounted to 266.9 billion yuan, an increase of 109.3 billion yuan year-on-year [1]

Market Performance - On September 12, the real estate development sector rose by 1.87%, with Xiangjiang Holdings leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Individual Stock Performance - Xiangjiang Holdings (600162) closed at 1.96, with a gain of 10.11% and a trading volume of 1.3351 million shares, amounting to a transaction value of 253 million [1] - Rongsheng Development (002146) closed at 1.75, up 10.06%, with a trading volume of 3.4729 million shares, totaling 590 million [1] - Shouke Co. (600376) closed at 5.51, gaining 9.98%, with a trading volume of 2.9765 million shares, amounting to 1.59 billion [1] - Suning Universal (000718) closed at 3.31, up 9.97%, with a trading volume of 1.1660 million shares, totaling 383 million [1] - Huaxia Happiness (600340) closed at 2.43, gaining 9.95%, with a trading volume of 3.5830 million shares, amounting to 858 million [1] Capital Flow Analysis - The real estate development sector saw a net inflow of 31.39 million from institutional investors, while retail investors contributed a net inflow of 413 million [2] - The sector experienced a net outflow of 444 million from speculative funds [2] Detailed Capital Flow for Selected Stocks - Huaxia Happiness (600340) had a net inflow of 34.9 million from institutional investors, but a net outflow of 168 million from speculative funds [3] - Vanke A (000002) saw a net inflow of 26.4 million from institutional investors, with a net outflow of 101 million from speculative funds [3] - Rongsheng Development (002146) had a net inflow of 14.5 million from institutional investors, but a net outflow of 76.5 million from speculative funds [3] - Shouke Co. (600376) experienced a net inflow of 84.8 million from institutional investors, with a net outflow of 81.3 million from speculative funds [3]

Core Viewpoint - The real estate sector showed significant activity on September 12, with multiple stocks experiencing notable gains, indicating a positive market sentiment towards the industry [1] Group 1: Stock Performance - Xiangjiang Holdings, Rongsheng Development, and New Dazheng all reached their daily limit up, reflecting strong investor interest [1] - Te Fa Services increased by over 6%, while Financial Street rose by more than 5%, further highlighting the upward trend in the sector [1]

Group 1 - The total amount of projects included in the "Two Zones" construction in Xicheng District over the past five years reached 768.229 billion yuan, with 945 projects in total [1] - In the financial sector, 208 projects were included, amounting to 620.963 billion yuan, which accounts for 80.83% of the total project amount in the district [1] - Notable projects include the establishment of the Beijing Stock Exchange and the Beijing Financial Court, enhancing the core area of the national financial management center [1] Group 2 - By 2024, the added value of the digital economy in Xicheng District is expected to exceed 240 billion yuan, with over 2,600 enterprises in the core digital economy industry [2] - There are 718 large-scale data enterprises in the district, with revenues surpassing 200 billion yuan [2]

独立董事工作制度 （经2025年第一次临时股东大会审议批准） 第一章 总则 金融街控股股份有限公司 第一条 为完善金融街控股股份有限公司（以下简称"公司"）的法 人治理结构，促进公司的规范运作，根据《上市公司治理准则》《国务 院办公厅关于上市公司独立董事制度改革的意见》《上市公司独立董事 管理办法》以及《金融街控股股份有限公司章程》（以下简称《公司章 程》）等相关规定，制定本制度。 第二条 独立董事指不在公司担任除董事外的其他职务，并与公司 及其主要股东、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的关系的董事。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人 等单位或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务，应当按 照法律、行政法规、中国证券监督管理委员会（以下简称中国证监会） 规定、证券交易所业务规则和公司章程的规定，认真履行职责，在董事 会中发挥参与决策、监督制衡、专业咨询作用，维护公司整体利益，保 1 护中小股东合法权益。 第二章 任职资格与任免 第四条 独立董事原则上最多在三家境内上市公司担任独立董事， 并应当确保有足够的时间和精力 ...

| | | 第一章 总则 第一条 为维护金融街控股股份有限公司（以下简称公司）股东的合法权 益，明确股东会的职责权限，保证股东会依法行使职权，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 市公司股东会规则》（以下简称规则）和《金融街控股股份有限公司章程》（以下 简称公司章程）以及其他的相关法律、法规和规章，结合公司情况，特制定本规 则。 第二条 股东会是公司的权力机构。 公司应当严格按照法律、行政法规、规则及公司章程的相关规定召开股东会， 保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保董事会召集和主持的股东会正常召开和依法行使职权。 （十）审议公司在一年内购买、出售重大资产超过公司最近一期经审计总资 产 30%的事项； 第三条 股东会依法行使下列职权： （一）选举和更换非由职工代表担任的董事；决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏损方案； （四）对公司增加或者减少注册资本作出决议； （五）对发行公司债券作出决议； （六）对公司合并、分立、 ...

| 第一章 | 总 则 | | --- | --- | | 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 | 股东和股东会 | | 第一节 | 股东的一般规定 . | | | 第二节 控股股东和实际控制人 | | 第三节 | 股东会的一般规定 | | 第四节 | 股东会的召集 | | 第五节 | 股东会的提案与通知 . | | 第六节 | 股东会的召开 | | 第七节 | 股东会的表决和决议 . | | 第五章 | 党的委员会 … | | 第六章 | | | 第一节 | 董事 ……………………………………………………………………………………………………………………………………………24 | | | --- | --- | --- | | 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 | 总经理及其他高级管理人员 . | | | 第八章 | 财务会计制度、利润分配和审计 . | ...

金融街控股股份有限公司 累积投票制实施细则 （经2025年第一次临时股东大会审议批准） 2025年9月 金融街控股股份有限公司累积投票制实施细则 第一章 总则 第二章 董事的选举及投票 第七条 公司非独立董事、独立董事的表决应当分别进行，均采用累积投 票制。 （一）选举非独立董事时，出席股东所拥有的投票表决权数等于其所持有的 公司股份总数乘以该次股东会应选非独立董事人数之积，该部分投票表决权数只 能投向该次股东会的非独立董事候选人。 （二）选举独立董事时，出席股东所拥有的投票表决权数等于其所持有的公 司股份总数乘以该次股东会应选独立董事人数之积，该部分投票表决权数只能投 第一条 为完善公司法人治理结构，规范公司选举董事的行为，维护公司中 小股东的利益，切实保障社会公众股东选择董事的权利，根据中国证监会《上市 公司治理准则》及《公司章程》等的有关规定，特制定本实施细则。 第二条 本实施细则所称累积投票制是指股东会选举两名以上董事时，股东 所持每一股份拥有与应选出董事人数相等的投票权，股东拥有的投票表决权总数 等于其所持有的股份与应选出董事人数的乘积。股东可以按意愿将其拥有的全部 投票表决权集中投向某一位或几位董 ...

| 第一章 | 总则 | 2 | | --- | --- | --- | | 第二章 | 董事权利和义务 | 2 | | 第三章 | 董事会的组成与职权 | 5 | | 第四章 | 董事会专门委员会 | 7 | | 第五章 | 董事会的召开 | 9 | | 第六章 | 董事会的议事程序 | 12 | | 第七章 | 保密制度 | 14 | | 第八章 | 董事会经费 | 15 | | 第九章 | 附则 | 15 | 第一章 总则 第一条 为规范董事会的运行机制，维护公司及股东的合法权益，确保公司 董事会依法运作，提高工作效率，进行科学决策，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》）、 《上市公司治理准则》、《深圳证券交易所股票上市规则》（以下简称《上市规 则》）、《金融街控股股份有限公司章程》（以下简称公司章程）等有关规定， 制定本议事规则。 第二条 董事会对股东会负责，行使法律、法规、公司章程及股东会授予的 职权。 第三条 董事会的办事机构是董事会办公室，董事会办公室在董事会领导下 进行有关资本运作策划及实施、公司治理及董事会建设、规范运作及证券事务 ...