广发证券股份有限公司 2024年度内部控制评价报告 广发证券股份有限公司全体股东： 一、重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其 有效性，并如实披露内部控制评价报告是公司董事会的责任；监事会对董事会建 立和实施内部控制进行监督；经理层负责组织领导企业内部控制的日常运行。公 司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚假 记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个 别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及 相关信息真实完整，提高经营效率和效果，促进实现发展战略。由于内部控制存 在的固有局限性，故仅能为实现上述目标提供合理保证。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 控制评价结果推测未来内部控制的有效性具有一定的风险。 二、内部控制评价结论 1．公司于内部控制评价报告基准日，是否存在财务报告内部控制重大缺陷 □ 是 √ 否 2．财务报告内部控制评价结论 √ 有效 □无效 根据公司财务报告内部控制重大缺陷的认定标准，于内部控制评价 ...

2024 年 12 月 31 日 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，我们审计了广发证券 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 内部控制审计报告 广发证券股份有限公司 安永华明（2025）专字第70010787_G01号 广发证券股份有限公司 内部控制审计报告 广发证券股份有限公司全体股东： 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。 1 内部控制审计报告（续） 安永华明（2025）专字第70010787_G01号 广发证券股份有限公司 四、财务报告内部控制审计意见 我们认为，广发证券股份有限公司于 2024 年 12 月 31 日按照《企业内部控制基本规范》和 相关规定在所有重大方面保持了有效的财务报告内部控制。 安永华明会计师事务所（特殊普通合伙） 中国注册会计师：昌 华 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业 ...

广发证券股份有限公司 已审财务报表 2024年度 广发证券股份有限公司 目 录 | | 页 | 次 | | --- | --- | --- | | 审计报告 | 1 | – 7 | | 已审财务报表 | | | | 合并及母公司资产负债表 | 8 | – 9 | | 合并及母公司利润表 | | 10 | | 合并及母公司现金流量表 | | 11 | | 合并及母公司股东权益变动表 | 12 | – 13 | | 财务报表附注 | 14 – | 1 4 9 | 审计报告 安永华明（2025）审字第70010787_G01号 广发证券股份有限公司 广发证券股份有限公司全体股东： 一、审计意见 我们审计了广发证券股份有限公司的财务报表，包括 2024 年 12 月 31 日的合并及公司资产负 债表，2024 年度的合并及公司利润表、股东权益变动表和现金流量表以及相关财务报表附注。 我们认为，后附的广发证券股份有限公司的财务报表在所有重大方面按照企业会计准则的规定 编制，公允反映了广发证券股份有限公司 2024 年 12 月 31 日的合并及公司财务状况以及 2024 年 度的合并及公司经营成果和现金流量。 二、 形 ...

广发证券股份有限公司 非经营性资金占用及 其他关联资金往来情况的专项说明 2024 年度 关于广发证券股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的专项说明 安永华明（2025）专字第70010787_G02号 广发证券股份有限公司 广发证券股份有限公司董事会： 安永华明（2025）专字第70010787_G02号 广发证券股份有限公司 （本页无正文） 安永华明会计师事务所（特殊普通合伙） 中国注册会计师：昌 华 如实编制和对外披露汇总表，并确保其真实性、合法性、完整性是广发证券股份有限公 司的责任。我们对汇总表所载资料与我们审计广发证券股份有限公司 2024 年度财务报表时 所复核的会计资料和经审计的财务报表的相关内容进行了核对，在所有重大方面没有发现不 一致之处。除了对广发证券股份有限公司 2024 年度财务报表出具审计报告而执行的审计程 序外，我们并未对汇总表所载资料执行额外的审计程序。 为了更好地理解广发证券股份有限公司 2024 年度非经营性资金占用及其他关联资金往 来情况，汇总表应当与经审计的财务报表一并阅读。 本专项说明仅供广发证券股份有限公司为 2024 年度报告披露使 ...

广发证券股份有限公司2024年度独立董事述职报告 梁硕玲 2024年，本人作为广发证券股份有限公司（以下简称"广发证券"或"公司"） 独立董事，根据《中华人民共和国公司法》《上市公司独立董事管理办法》等法 律、法规以及《广发证券股份有限公司章程》（以下简称"《公司章程》"）及 《广发证券独立董事工作制度》的规定，独立公正、认真勤勉履行职责，对公司 经营发展提供专业、客观的建议，促进提升董事会决策水平，促使董事会决策符 合公司整体利益，保护投资者合法权益。现将本人2024年度履职情况报告如下： 一、独立董事的基本情况 本人在会计、财务等领域拥有专业资历及相应经验，符合相关法律法规、监 管规定、自律规则以及《公司章程》《广发证券独立董事工作制度》等关于独立 董事的独立性要求。本人的基本情况如下： （一）工作履历、专业背景及兼职情况 （二）参与董事会专门委员会会议、独立董事专门会议情况 梁硕玲女士，自2020年6月起获委任为本公司独立非执行董事。梁硕玲女士 现任香港大学经济及工商管理学院首席讲师、副院长。梁硕玲女士曾任香港城市 大学会计学助理教授，香港大学国际商业及环球管理课程主任、经济及工商管理 学院助理院长。梁 ...

广发证券股份有限公司董事会 对独立董事独立性评估的专项意见 经核查独立董事梁硕玲女士、黎文靖先生、张闯先生、王大树先生、范立夫 先生和胡滨先生的任职经历以及签署的相关自查文件，上述独立董事未在公司担 任除董事外的其他职务，并与公司及其主要股东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，符合《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》《深 圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》《香港 联合交易所有限公司证券上市规则》以及《广发证券股份有限公司章程》等关于 独立董事的独立性要求。 广发证券股份有限公司董事会 二〇二五年三月二十八日 1 根据《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》等要求，广发证券股份有限公司（以下简 称"公司"）董事会对公司现任独立董事梁硕玲女士、黎文靖先生、张闯先生和 王大树先生，以及公司第十届董事会独立董事范立夫生和胡滨先生的独立性情况 进行评估并出具如下专项意见： ...

Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares to all shareholders, totaling a payout of 40% of the share capital[5] - The company does not plan to issue bonus shares or convert reserves into share capital in the current dividend proposal[5] Financial Performance - Total revenue for 2024 reached ¥27.20 billion, an increase of 16.74% compared to ¥23.30 billion in 2023[44] - Net profit attributable to shareholders for 2024 was ¥9.64 billion, up 38.11% from ¥6.98 billion in 2023[44] - The net profit after deducting non-recurring gains and losses was ¥8.91 billion, reflecting a 36.99% increase from ¥6.51 billion in 2023[44] - The company's total assets at the end of 2024 amounted to ¥758.75 billion, an increase of 11.22% from ¥682.18 billion at the end of 2023[44] - The total liabilities at the end of 2024 were ¥605.66 billion, up 11.85% from ¥541.51 billion at the end of 2023[44] - Basic earnings per share for 2024 were ¥1.15, a 38.55% increase from ¥0.83 in 2023[44] - The weighted average return on equity increased to 7.44%, up 1.78 percentage points from 5.66% in 2023[44] - The net cash flow from operating activities for 2024 was ¥9.97 billion, a significant recovery from a negative cash flow of ¥8.92 billion in 2023[44] Risk Management - The company emphasizes the importance of risk management, including liquidity, market, credit, compliance, operational, information technology, and reputational risks[4] - The company has established a comprehensive risk management system to ensure stable operations within controllable risk limits[4] - The company is committed to supporting the construction of a financial powerhouse and enhancing the quality of financial services[184] - The company has established a comprehensive risk management system to address various risk types across all business lines and departments[200] - The company faces liquidity risk, which includes challenges in obtaining sufficient funds to meet obligations and operational needs[192] - Market risk is concentrated in equity price risk and interest rate risk, with increased exposure due to international expansion and market volatility[193] - Credit risk is rising due to complex financial products and increased default rates in the credit market[194] - Compliance risk arises from potential legal liabilities and regulatory actions due to non-compliance with laws and regulations[196] - Operational risk is prevalent across all departments, with potential losses from internal process failures and external events[197] - Information technology significantly enhances the company's operational efficiency and competitiveness, but also introduces risks such as data loss and cyberattacks[198] - Reputation risk arises from violations of ethical standards and can negatively impact the company's brand value and market stability[199] Corporate Governance - All board members attended the meeting to review the annual report, ensuring corporate governance compliance[4] - The financial report for the fiscal year 2024 has been audited by Ernst & Young Huaming, which issued a standard unqualified audit opinion[4] Business Operations and Structure - The report period covers the fiscal year 2024, from January 1, 2024, to December 31, 2024[12] - The company has maintained its main business operations without changes since its listing[18] - GF Securities holds a securities and futures business license approved by the China Securities Regulatory Commission since November 1998[19] - The company has been a member of the Shanghai Stock Exchange and Shenzhen Stock Exchange since April 2007[19] - The company has expanded its business capabilities with over 40 different licenses and qualifications in the financial sector[19] - The company has established a comprehensive service framework for investment management and financial products distribution since 2012[19] - The company operates four main business segments: Investment Banking, Wealth Management, Trading and Institutional Business, and Investment Management, providing a comprehensive range of financial solutions[75] Subsidiaries and International Presence - The company has established a total of 12 subsidiaries in various regions, including Hong Kong and Canada[35][37] - The company has established a presence in international markets, obtaining licenses such as the Foreign Investment Adviser from the Financial Services Commission of South Korea in November 2013[22] - The company has been actively involved in the insurance sector, receiving the Investment Management Qualification for managing insurance funds in March 2016[23] Market Position and Industry Recognition - The company ranked third in the industry for the scale of non-monetary public fund distribution, with a focus on enhancing comprehensive wealth management services[65] - The company ranked 4th among Chinese securities firms in the Hong Kong market for equity financing, based on the total issuance scale of IPO and refinancing projects[91] - The company has been recognized multiple times for its research capabilities, winning several prestigious awards from 2017 to 2024[116] Future Outlook and Strategic Goals - The company aims to become a modern investment bank with international competitiveness and brand influence, focusing on high-quality development and optimizing business structure[188] - By 2025, the company anticipates a positive economic recovery and will enhance its core professional capabilities and comprehensive service abilities[189] - The company plans to explore various fundraising methods to meet its funding needs for business development in 2024[190] - The company plans to focus on service to national strategies and optimize business layout, particularly in wealth management and investment banking[68] - The company aims to deepen the application of artificial intelligence across all business scenarios to drive strategic upgrades[68] Financial Health and Capital Structure - The registered capital of GF Securities is RMB 7,621,087,664[15] - The net capital of GF Securities stands at RMB 95,860,233,564.88[15] - The company's equity totaled RMB 153.085 billion, up by RMB 12.410 billion, representing an 8.82% increase, driven by the issuance of perpetual bonds and contributions from comprehensive income[152] - The total debt at the end of the reporting period was approximately CNY 365.52 billion, with short-term debt accounting for 71.74%[163] - The company maintained a strong liquidity position with sufficient high-liquid assets to meet emergency liquidity needs[165] - The company received a long-term issuer rating of BBB and a stable outlook from S&P Global Ratings, indicating strong creditworthiness[166]

Core Viewpoint - The board of directors of GF Securities Asset Management (Guangdong) Co., Ltd. guarantees that the annual report of the collective asset management plan does not contain false records, misleading statements, or significant omissions, and they bear individual and joint responsibility for the authenticity, accuracy, and completeness of its content [1]. Group 1 - The company has completed the contract changes for the collective asset management plans, which are operated similarly to public offerings [1]. - A total of 12 collective asset management plans are listed, including various types such as bond-type and mixed-type plans, with specific holding periods [3]. - The full annual report for these 12 collective asset management plans will be disclosed on the company's website and the China Securities Regulatory Commission's fund electronic disclosure website on March 28, 2025 [1][3]. Group 2 - The management of the collective plans commits to managing and utilizing the assets with honesty, diligence, and responsibility, but does not guarantee profits or minimum returns [1].

Core Viewpoint - The report from GF Securities indicates that the export chain is expected to experience a surge driven by EPS expectations as companies like Juxing Technology exceed forecasts in the upcoming annual report preview season in December 2024 [1][2] Group 1: Export Chain Performance - The stock performance of export chain companies shows a cyclical pattern, with price increases typically occurring during earnings seasons when EPS can be earned, while performance tends to decline during earnings gaps [2] - As of now, many companies' 2025 PE ratios have fallen to a favorable range of 10-15X, indicating potential investment opportunities [1][2] - The upcoming first quarter earnings season is a critical time to monitor performance indicators within the export chain [2] Group 2: Sector Recommendations - In the machinery sector, durable goods are expected to follow a cyclical trend, with recommendations for overseas durable goods including Juxing Technology and Yindu Co., and for industrial products, companies like Sany Heavy Industry [3] - In the home appliance sector, leading companies with overseas production capabilities are positioned to benefit from improved export competitiveness due to U.S. tariffs, with a focus on OEMs like Xinbao Co., Ousheng Electric, and Dechang Co. [3] - The textile and apparel sector is anticipated to maintain stable performance in Q1 2025 despite increased tariffs, as many companies have global production layouts that mitigate trade friction impacts [3] Group 3: Automotive Sector Insights - The export of passenger vehicles, particularly PHEVs, is accelerating, while commercial vehicle exports are expected to slow in the short term but have significant long-term market potential [4] - Recommended companies in the passenger vehicle segment include BYD, Great Wall Motors, and Changan Automobile, among others [4] Group 4: Light Industry and Export Dynamics - The light industry sector is expected to see performance differentiation in Q1 2025, with domestic exporters to the U.S. facing profitability pressures, while Vietnamese exporters maintain higher income levels [4]