Core Viewpoint - Guangfa Securities has received approval from the China Securities Regulatory Commission to publicly issue subordinated bonds not exceeding RMB 20 billion, indicating a strategic move to enhance its capital structure and funding capabilities [1] Group 1: Bond Issuance Details - The company plans to issue subordinated bonds with a total scale of up to RMB 3 billion, priced at RMB 100 per bond, targeting professional institutional investors through a pricing inquiry and allocation method [1] - The issuance period for the bonds is set from November 18, 2025, to November 19, 2025, with a maturity of 3 years [1] - The final issuance scale reached RMB 2.95 billion, with a coupon rate of 2.00% and a subscription multiple of 2.58 times [1]

Group 1 - The core point of the article is that GF Securities Co., Ltd. is set to issue subordinated bonds aimed at professional investors, with a total issuance scale of 2.95 billion yuan and a coupon rate of 2.00% [1] - The issuance period for the bonds is from November 18, 2025, to November 19, 2025, with a maturity of 3 years [1] - The subscription multiple for the bond issuance is reported to be 2.58 times [1]

Group 1 - The core point of the article is that GF Securities (01776) announced the issuance of subordinated bonds for professional investors, with specific details on the issuance period, scale, and interest rate [1] Group 2 - The issuance period for the subordinated bonds is set from November 18 to November 19, 2025 [1] - The total issuance size is finalized at 2.95 billion yuan [1] - The final coupon rate for the bonds is established at 2.00%, with a subscription multiple of 2.58 times [1]

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。 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，廣發証券股份有限公司（「本公司」）在深圳 證券交易所網站( http://www.szse.cn )刊發的《廣發証券股份有限公司2025年面向專 業投資者公開發行次級債券（第五期）發行結果公告》。茲載列如下，僅供參閱。 GF SECURITIES CO., LTD. 承董事會命 廣發証券股份有限公司 廣發証券股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1776） 林傳輝 董事長 中國，廣州 2025年11月19日 於本公告日期，本公司董事會成員包括執行董事林傳輝先生、秦力先生、孫曉燕 女士及肖雪生先生；非執行董事李秀林先生、尚書志先生及郭敬誼先生；獨立非 執行董事梁碩玲女士、黎文靖先生、張闖先生及王大樹先生。 证券代码：524544 证券简称：25 广发 C7 ...

证券代码：524544 证券简称：25 广发 C7 广发证券股份有限公司 2025 年面向专业投资者公开发行次级债券（第五期） 发行结果公告 级债券（第五期）发行结果公告》之签章页） 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记 载、误导性陈述或者重大遗漏。 广发证券股份有限公司（以下简称"发行人"）公开发行不超过人民币 200 亿元（含）次级公司债券已获得中国证券监督管理委员会证监许可〔2024〕1258 号文注册。根据《广发证券股份有限公司 2025 年面向专业投资者公开发行次级 债券（第五期）发行公告》，广发证券股份有限公司 2025 年面向专业投资者公开 发行次级债券（第五期）（以下简称"本期债券"）发行规模为不超过 30 亿元（含）， 发行价格为每张 100 元，采取网下面向专业机构投资者询价配售的方式发行。 本期债券发行时间为 2025 年 11 月 18 日至 2025 年 11 月 19 日，发行期限为 3 年，最终发行规模为 29.5 亿元，最终票面利率为 2.00%，认购倍数为 2.58 倍。 发行人的董事、监事、高级管理人员、持股比例超过 5%的股东以及其他关 联方未 ...

Group 1 - The core point of the article highlights the transfer of shares of Universal Medical (02666) from GF Securities Hong Kong to Cinda International Securities, with a market value of HKD 1.236 billion, representing 9.37% of the total shares [1] - On November 18, 2025, the company signed an agreement to establish a joint venture with China National Machinery New Energy and Helex Technology, with a registered capital of RMB 30 million [1] - The capital contributions to the joint venture are as follows: the company will contribute RMB 15.03 million, China National Machinery New Energy will contribute RMB 4.47 million, and Helex Technology will contribute RMB 10.5 million [1] Group 2 - After the establishment of the joint venture, the ownership structure will be 50.1% for the company, 14.9% for China National Machinery New Energy, and 35% for Helex Technology, making the joint venture a subsidiary of the company [1]

Group 1 - The core point of the article is that Global Medical (02666.HK) has seen a significant shareholder transfer of stock valued at HKD 1.236 billion, representing 9.37% of its shares, from GF Securities Hong Kong to Cinda International Securities [1] - Investment banks predominantly rate Global Medical as "Buy," with one bank issuing a "Buy" rating in the last 90 days and a target price of HKD 7.97 [1] - Pacific Securities has recently issued a report giving Global Medical a "Buy" rating with a target price of HKD 7.97 [1] Group 2 - Global Medical has a market capitalization of HKD 13.193 billion, ranking 5th in the healthcare services sector [1] - Key financial metrics for Global Medical compared to the industry average are as follows: ROE at 12.39% (industry average 0.02%), revenue at HKD 14.701 billion (industry average HKD 3.832 billion), net profit margin at 17.61% (industry average -843.36%), gross margin at 34.34% (industry average 39.76%), and debt ratio at 73.38% (industry average 74.15%) [1]

Group 1 - The core point of the article highlights the transfer of shares of Universal Medical (02666) from GF Securities Hong Kong to Cinda International Securities, with a market value of HKD 1.236 billion, representing 9.37% of the total shares [1] Group 2 - On November 18, 2025, the company signed an agreement to establish a joint venture with China National Machinery New Energy and Hele Technology, with a registered capital of RMB 30 million [1] - The capital contributions to the joint venture are as follows: the company will contribute RMB 15.03 million, China National Machinery New Energy will contribute RMB 4.47 million, and Hele Technology will contribute RMB 10.5 million [1] - After the establishment of the joint venture, the ownership will be distributed as follows: the company will hold 50.1%, China National Machinery New Energy will hold 14.9%, and Hele Technology will hold 35%, making the joint venture a subsidiary of the company [1]

Core Insights - Southbound funds increased their holdings in GF Securities (01776.HK) by 1.6936 million shares on November 18, 2025, marking a 0.17% increase in total shares held [1][2] - Over the past five trading days, there have been four days of net increases in holdings, totaling 4.2542 million shares [1] - In the last 20 trading days, there were 13 days of net increases, amounting to 18.0736 million shares [1] - As of now, southbound funds hold 1.002 billion shares of GF Securities, representing 58.87% of the company's total issued ordinary shares [1][2] Summary by Category Trading Activity - On November 18, 2025, total shares held reached 1.002 billion, with a change of 1.6936 million shares [2] - On November 17, 2025, total shares held were 1.000 billion, with a change of 730,800 shares [2] - On November 14, 2025, total shares held remained at 1.000 billion, with a decrease of 327,600 shares [2] - On November 13, 2025, total shares held were 1.000 billion, with an increase of 1.417 million shares [2] - On November 12, 2025, total shares held were 2,666,600, with an increase of 740,400 shares [2] Company Overview - GF Securities Co., Ltd. primarily engages in securities business through five segments: investment banking, wealth management, trading and institutional client services, investment management, and other operations [2]

Core Viewpoint - The announcement details the completion of the guarantee and trust registration for shares held by a major shareholder, Liaoning Chengda Co., Ltd., in relation to the issuance of exchangeable bonds, indicating no significant changes to the company's equity structure [2][3]. Group 1: Shareholder Information - Liaoning Chengda holds a total of 1,366,927,688 shares in the company, representing 17.97% of the total share capital [3]. - The shares involved in the guarantee and trust registration are 75,000,000 unrestricted circulating shares [2]. Group 2: Bond Issuance Details - The bond issuance by Liaoning Chengda will not lead to significant changes in the company's equity structure [3]. - The registration of shares for guarantee and trust has been completed with the trustee, CITIC Jianzhong Securities Co., Ltd., acting as the nominal holder [2][3]. Group 3: Regulatory Compliance - The company will disclose further developments regarding the non-public issuance of exchangeable bonds in accordance with relevant regulatory requirements [3].