北京市嘉源律师事务所 关于广发证券股份有限公司 2025 年第三次临时股东大会、2025 年第二次 A 股 类别股东大会及 2025 年第二次 H 股类别股东大会 的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：广发证券股份有限公司 北京市嘉源律师事务所 关于广发证券股份有限公司 2025 年第三次临时股东大会、2025 年第二次 A 股 类别股东大会及 2025 年第二次 H 股类别股东大会 的法律意见书 嘉源(2025)-04-938 北京市嘉源律师事务所（以下简称"本所"）接受广发证券股份有限公司（以 下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）等现行有 效的法律、行政法规、部门规章、规范性文件（以下简称"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》"）的有关规定，指派本 所律师对公司2025年第三次临时股东大会（以下简称 ...

Core Insights - The 14th Annual Financial Industry Evaluation event was successfully held, focusing on "Innovative Services Benefit the Public and Financial Empowerment Opens New Journeys" [2] - The event introduced the "New Wealth New Investment Pioneer Case" selection to highlight innovative financial practices amid ongoing capital market reforms and a low-interest-rate environment [2] Group 1: Award-Winning Institutions - Award-winning cases came from various sectors including securities, public funds, and bank wealth management, showcasing a shift towards prioritizing investor returns and serving the real economy [5] - Institutions like GF Securities, Wanlian Securities, and Dongguan Securities emphasized transitioning from "sell-side sales" to "buy-side advisory," enhancing personalized service and investor education [5] Group 2: Product Innovation - The core labels of product innovation among the awarded cases included "low threshold, high adaptability, and favorable rates," focusing on "fixed income+" products to meet diverse investor needs [6] - Institutions like China Merchants Bank Wealth Management and Xinyin Wealth Management developed multi-strategy product matrices to cater to different risk preferences [6] Group 3: Support for SMEs - Award-winning institutions innovated financing tools to support small and micro enterprises, particularly in technology and rural revitalization [7] - For instance, Yuekai Securities utilized intellectual property asset securitization to help specialized enterprises convert patents into financing capital [7] Group 4: Technology and Social Value - Many awarded institutions leveraged big data and AI to enhance financial service accessibility and efficiency [8] - For example, E Fund established an index direct access service that integrates complex investment tools with mobile services, reducing operational difficulty for investors [8] - Institutions like China Merchants Bank Wealth Management and Xinyin Wealth Management innovated "wealth management + charity" models, combining wealth growth with public welfare [8] Group 5: Future Directions - The organizing bodies will promote these benchmark cases to ensure that financial innovations benefit a broader population and contribute to the real economy and public welfare [9]

Group 1 - The core narrative for incremental capital in A-shares for 2025 includes regulatory and insurance capital mitigating downside risks, while domestic deposit migration and overseas dollar overflow open up upside potential for the index [1] - The outlook for 2026 is expected to be an enhanced version of 2025, with continued support from insurance capital and regulation, alongside anticipated inflows from residents' deposits (especially from high-net-worth individuals) and foreign capital [1] - Factors supporting the resident side include the mitigation of downside risks by insurance capital and regulation, a gradual reduction in the impact on residents' balance sheets, further liquidity of residents' funds in 2026, and limited high-yield assets competing with deposits in this cycle [1] Group 2 - On the foreign capital side, the overall "cake" of global funds is expected to grow, with downward pressure on the dollar and an anticipated bottoming improvement in A-share fundamentals by 2026 [2]

公开资料显示，戴康毕业于中国人民大学，曾在国泰君安证券、华泰证券任职。2017年，戴康加盟广发 证券并担任首席策略分析师；2024年，戴康履新广发证券发展研究中心董事总经理、首席资产研究官。 近年来招银理财正加速推进"多资产、多策略"布局，其中权益投资是提升主动管理能力、增厚产品收益 的关键突破口。截至2025年6月末，招银理财权益类理财产品存续规模35.82亿元，穿透后权益类投资金 额667.68亿元。 中证报中证网讯（记者 李静）记者12月23日从招银理财方面获悉，原广发证券（000776）发展研究中 心董事总经理、首席资产研究官戴康已出任招银理财权益投资部总经理。 ...

广发证券股份有限公司是一家主要从事证券业务的中国公司。该公司通过五个分部开展业务。投资银行 分部从事股权融资、债务融资、财务顾问和企业解决方案等。财富管理分部从事零售证券经纪、期货经 纪、金融产品代销、融资融券及回购交易融资服务、融资租赁等。交易及机构客户服务分部主要从事为 机构客户提供证券研究、资产托管服务、销售及投资交易（包括自营和其他对客交易服务）、另类投资 等。投资管理分部从事资产管理、公募基金管理、私募基金管理等。其他分部主要为公司总部运营。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，12月22日南向资金增持246.24万股广发证券（01776.HK）。近5个交易日中，获南向资 金增持的有4天，累计净增持179.54万股。近20个交易日中，获南向资金增持的有13天，累计净增持 389.39万股。截至目前，南向资金持有广发证券（01776.HK）10.09亿股，占公司已发行普通股的 59.29%。 ...

Core Viewpoint - The "2025 Annual Capital Market Outstanding Practitioners Ceremony" highlighted achievements in various fields, including IPOs, mergers and acquisitions, and notably, bond issuance, with a total of 212 individuals, 36 teams and institutions, and 18 bond products recognized for their excellence [1][4]. Group 1: Awards and Recognitions - A total of 4 institutions were awarded "Outstanding Underwriter of the Year," while 6 individuals were recognized as "Outstanding Bond Underwriters" [1]. - Three companies received the title of "Outstanding Issuer," and three teams were awarded "Outstanding Debt Financing Team" [1]. - The 18 bond products recognized included categories such as "Outstanding ABS Product," "Outstanding Bond Product," "Outstanding REITs Product," and "Specialty Bond Product" [1]. Group 2: Notable Institutions and Individuals - Industrial Securities excelled in the bond sector, achieving a "Grand Slam" with 3 bond underwriters, 2 teams, and 4 bond products winning awards [4]. - Guotai Junan Securities and GF Securities also performed well, both being named "Outstanding Underwriter of the Year," with Guotai Junan's team winning "Outstanding Debt Financing Team" [4]. - Notable individuals included He Yan, Ge Hua, and Gao Yangyang from Industrial Securities, who were recognized as "Outstanding Bond Underwriters" [4]. Group 3: Outstanding Issuers - Shanghai North Bund Group, Suzhou New Jian Yuan Holdings, and Quanzhou Water Group were recognized as "Outstanding Issuers," with North Bund Group notably raising funds for infrastructure and urban renewal projects through bond issuance [5]. - North Bund Group successfully issued 1.2 billion yuan in private corporate bonds, achieving a record low interest rate for AAA-rated nationwide private bonds [5]. Group 4: Future Directions - The event aims to continue promoting excellence in the bond issuance sector, encouraging innovation and high-quality development in the capital market to better serve the real economy [7]. - The "Outstanding Practitioners" initiative will focus on the practical needs of China's capital market reform and the performance of local intermediary service institutions [7].

| 序号 | 交易营业部名称 | | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | --- | | 1 | 华鑫证券有限责任公司上海云锦路证券营业部 | 24次 | 33.33% (7) | 1.69 | 0.00% | | 2 | 中泰证券股份有限公司深圳科苑南路证券营业部 | 3次 | 33.33% | 43.39 | 0.02% | | 3 | 探股通专用 | | 689次 44.12% | 10842.51 | 4.45% | | 4 | 中信证券股份有限公司东阳吴宁西路证券营业部 | 24次 | 50.00% | 15.76 | 0.01% | | 5 | 中信证券股份有限公司上海徐汇区漕溪北路证券营业部 | 32次 | 53.13% | 15.68 | 0.01% | | | (买入前5名与卖出前5名)总合计: | | | 87551.32 | 35.94% | 格隆汇12月22日｜山子高科(000981.SZ)今日涨停两连板，换手率7.13%，成交额24.36亿元。龙虎榜数据显示，深股通净买入7429万元；广发证券深圳后海证 券营业部位 ...

Core Viewpoint - The article discusses the results of the 2025 New Fortune Best Investment Advisor Awards, highlighting the top investment advisors and teams in the industry, showcasing their performance and contributions to wealth management [30]. Group 1: Best Investment Advisors - The top investment advisors in the stock trading category include Ning Shiyu from CITIC Securities, Lei Mengyao from Guolian Minsheng Securities, and Wang Xiaolai from Tongshi Securities, among others [3][5]. - A total of 91 advisors were selected as the best investment advisors after rigorous evaluations in two phases: investment management capability and service capability [31]. Group 2: Best Investment Advisor Teams - The leading investment advisor teams are led by Guangfa Securities, CITIC Securities, and China Galaxy Securities, reflecting their strong performance in the industry [15][24]. - New awards were introduced this year, including the Best Stock Elite Advisor Team Award and the Best ETF Elite Advisor Team Award, focusing on actual business performance and innovation in advisory services [31]. Group 3: Evaluation Process - The evaluation process involved participation from 39,893 advisors across 90 securities firms, covering all 31 provincial-level administrative regions and 325 cities, setting a record for participation [30]. - The final selection of advisors was based on a comprehensive assessment by 54 senior judges from various financial institutions during the finals held in major cities [31].

广发证券所长助理、首席策略刘晨明表示，虽然主动权益公募基金发行低迷，但存款搬家在超高净值人 群中已显著发生。由于固收产品收益率下行至2%以下，追求5%-10%年化收益且波动可控的资金正通过 私募全天候、对冲及指增策略加速入场，这将是2025年市场最确定的增量资金池。 ...

Group 1 - The core viewpoint is that there are three methods for debt reduction without substantial defaults: real growth exceeding real interest rates (growth-based debt reduction), inflation exceeding expectations (inflation-based debt reduction), and fiscal tightening (fiscal-based debt reduction) [1] - AI and gold are expected to ultimately benefit from the aforementioned debt reduction pathways [1]