长城证券股份有限公司 2024 年度独立董事述职报告（周凤翱） 二、独立董事年度履职概况 | 姓名 | | | 参加董事会会议情况 | | | 参加股东大会情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 本年应出 | 现场出席 | 以通讯方式出席 | 委托出席 | 表决 | 本年应出席 | 实际出席股 | | | 席董事会 | 次数 | 次数（含视频、 | 次数 | 情况 | 股东大会次 | 东大会次数 | | | 会议次数 | | 电话等方式） | | | 数 | | | 周凤翱 | 11 | 2 | 9 | 0 | 均同意 | 2 | 2 | （二）本年度参与董事会专门委员会工作情况 2024 年，作为长城证券股份有限公司（以下简称公司）独立董事，本人严格 按照《公司法》、中国证监会《上市公司治理准则》《上市公司独立董事管理办法》 等相关法律法规以及《公司章程》的有关规定，本着客观、独立、审慎的原则， 积极出席了董事会及专门委员会会议、独立董事专门会议，认真、专业、独立地 审议了每个议题，充分发挥了独立董事作用，切实维护了公司和中小 ...

20 24 目录 | 关于本报告 | 4 | | --- | --- | | 董事长致辞 | 6 | | 关于长城证券 | | | 公司简介 | 8 | | 主营业务 | 9 | | 企业文化 | 9 | | 责任管理 | 10 | | ESG 治理架构 | 10 | | 实质性议题识别 | 10 | | 利益相关方沟通 | 12 | | 专题一： | | | 坚持党建引领 | | | 打造高质量发展新格局 14 | | | 专题二： | | | 聚焦主责主业 | | --- | 提升服务实体经济质效 18 04 以人为本 成就金融报国之梦 8 低碳转型 01 | 稳健经营 | | --- | | 筑牢企业发展之基 | | 完善公司治理 | 24 | | --- | --- | | 深化国企改革 | 26 | | 投资者关系管理 | 26 | | 强化合规管理 | 28 | | 全面风险管理 | 29 | | 加强商业道德 | 31 | | 筑牢安全防线 | 32 | | 知识产权保护与品牌建设 | 33 | 02 绘就绿色发展画卷 | 应对气候变化 | 36 | | --- | --- | | 发展绿色金融 ...

长城证券股份有限公司 2024 年度独立董事述职报告（林斌） 2024 年，作为长城证券股份有限公司（以下简称公司）独立董事，本人严格 按照《公司法》、中国证监会《上市公司治理准则》《上市公司独立董事管理办法》 等相关法律法规以及《公司章程》的有关规定，本着客观、独立、审慎的原则， 积极出席了董事会及专门委员会会议、独立董事专门会议，认真、专业、独立地 审议了每个议题，充分发挥了独立董事作用，切实维护了公司和中小股东的权益。 现将本人 2024 年度履行独立董事职责情况报告如下： 一、独立董事基本情况 （一）个人履历、专业背景及兼职情况 本人林斌，1962 年 9 月出生，中国籍，无境外永久居留权，博士，教授，澳 大利亚资深注册会计师，中共党员。1984 年 7 月至 1998 年 10 月，历任华东交 通大学助教、讲师、副教授；1998 年 10 月至 2023 年 9 月，历任中山大学管理 学院会计学系主任、MPAcc 教育中心主任、教授、博士生导师，中山大学企业与 非营利组织内部控制研究中心主任；2019 年 6 月至今，任潮州农村商业银行股 份有限公司独立董事；2020 年 10 月至今，任中船海洋与 ...

Financial Performance - Total operating revenue for 2024 reached ¥4,020,172,277.70, a 0.73% increase from ¥3,991,223,756.79 in 2023[38] - Net profit attributable to shareholders increased by 9.82% to ¥1,579,705,498.18 in 2024 from ¥1,438,472,745.34 in 2023[38] - Basic earnings per share rose by 8.33% to ¥0.39 in 2024 compared to ¥0.36 in 2023[38] - Total assets as of the end of 2024 amounted to ¥123,255,771,604.91, reflecting a 6.58% increase from ¥115,642,457,784.90 in 2023[38] - Total liabilities increased by 7.15% to ¥92,766,165,420.93 in 2024 from ¥86,573,129,564.84 in 2023[38] - The weighted average return on equity improved to 5.38% in 2024, up 0.26 percentage points from 5.12% in 2023[38] - The company reported a significant cash flow from operating activities of ¥13,270,056,144.64 in 2024, a recovery from negative cash flow in the previous year[38] - Net profit for 2024 was ¥1,499,056,041.37, reflecting a growth of 12.44% from ¥1,333,197,662.34 in 2023[39] - Basic earnings per share increased to ¥0.37, up 12.12% from ¥0.33 in the previous year[39] Capital Structure and Shareholder Information - The company plans to distribute a cash dividend of 0.92 RMB per 10 shares to all shareholders, totaling approximately 3.71 billion RMB based on the total share capital of 4,034,426,956 shares[4] - The company’s registered capital stands at 4.03 billion RMB, reflecting its financial stability and capacity for growth[13] - The registered capital of the company increased from 206,700 million to 279,306.4815 million on November 30, 2015[30] - The company completed its initial public offering on October 26, 2018, with 310,340,536 shares listed on the Shenzhen Stock Exchange, raising the registered capital to 310,340.5351 million[30] - The company conducted a non-public offering of 931,021,605 shares on August 22, 2022, increasing the registered capital to 403,442.6956 million[30] - The company has not experienced any changes in its controlling shareholders since its establishment[17] Business Operations and Services - The company has expanded its securities business scope to include securities brokerage, investment consulting, financial advisory related to securities transactions, underwriting and sponsorship, proprietary trading, margin financing and securities lending, public securities investment fund sales, and fund custody services[17] - The company holds various qualifications for brokerage services, including membership in both the Shanghai and Shenzhen Stock Exchanges, and has been authorized for margin financing and securities lending by the China Securities Regulatory Commission[19] - The company holds various qualifications for investment banking, asset management, and OTC business, approved by relevant regulatory bodies[22][24][26] - The company has multiple subsidiaries with qualifications in private equity fund management and securities business[27][28] - The company operates a total of 111 securities business departments across various regions[36] - The company has established 16 domestic branches with no overseas branches as of the end of 2024[33] Risk Management - The company acknowledges potential risks including market risk, credit risk, liquidity risk, operational risk, and compliance risk, which may significantly impact its business and financial performance[4] - The company maintains a strong risk control and compliance framework, ensuring stable operations and high-quality development[60] - The liquidity risk management framework includes setting liquidity risk limits and conducting regular assessments to ensure sufficient cash flow under normal and stressed conditions[126] - The company plans to enhance its operational risk management by refining business processes and implementing a closed-loop management mechanism[128] Strategic Initiatives and Future Plans - The company plans to enhance its investment banking services focusing on strategic emerging industries and high-tech sectors to support new quality productivity[50] - The launch of "Cross-border Wealth Management Connect 2.0" is expected to strengthen the company's international expansion efforts[50] - The company aims to strengthen its investment banking business by focusing on regional and industry-specific strategies in 2025[67] - The company plans to enhance its digital transformation and optimize its wealth management platform in 2025[65] - The company is committed to integrating financial services with real economy needs, emphasizing responsibility and value[119] Governance and Compliance - The company has established a governance structure that includes a general meeting of shareholders, a board of directors, and a supervisory board, ensuring clear responsibilities and coordination[134] - The company actively considers independent directors' opinions on significant matters affecting minority shareholders[135] - The board of directors consists of 12 members, including 8 non-independent directors and 4 independent directors, with a term of 3 years for each director[138] - The company has established 7 specialized committees to enhance decision-making professionalism and compliance[146] - The company disclosed a total of 191 announcements during the reporting period, ensuring transparency and compliance with information disclosure regulations[149] Management Changes - The company reported a resignation letter from Wang Zhangwei on August 23, 2024, due to work adjustments, and he officially left the board on November 15, 2024[159] - Ma Boyin also submitted his resignation on August 23, 2024, and officially left the supervisory board on November 15, 2024[160] - Wu Lixin resigned as the board secretary on April 9, 2024, and will continue to serve as chairman in several subsidiaries[160] - The company is expanding its leadership team with new appointments, including two vice chairpersons and several new directors elected on June 28, 2024[163] - The company is focusing on strategic adjustments in its management structure to enhance operational efficiency[162] Investor Relations - The company engaged with investors through 89 inquiries on the "Interactive Easy" platform and provided responses via a dedicated consultation phone and email[132] - The company emphasized its commitment to high-quality development and investor value sharing in its future outlook[133] - The company held its annual general meeting with an investor participation rate of 69.6456% on June 26, 2024[157]

Financial Performance - Total operating revenue for Q1 2025 reached ¥1,277,113,603.75, an increase of 41.02% compared to ¥905,601,837.50 in the same period last year[4] - Net profit attributable to shareholders was ¥605,272,462.39, reflecting a significant growth of 71.56% from ¥352,803,504.74 year-on-year[4] - Basic earnings per share increased by 66.67% to ¥0.15 from ¥0.09 in the previous year[4] - Operating profit increased to ¥724,440,702.87, representing an 87% rise from ¥387,326,958.33 in the prior period[24] - The company reported a net interest income of ¥36,842,032.95, a turnaround from a net loss of ¥2,830,324.81 in the previous period[24] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 5.78% to ¥4,471,517,415.44, down from ¥4,745,653,437.00[4] - Cash and cash equivalents at the end of the period totaled ¥31,544,014,337.85, compared to ¥23,414,984,882.90 at the end of the previous period, marking a 34.7% increase[28] - The company reported a net increase in cash and cash equivalents of ¥1,725,821,633.61 during the period, compared to an increase of ¥767,547,750.74 in the previous period[28] - The company's liquidity coverage ratio improved to 320.34% from 307.96%, indicating better liquidity management[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥125,838,265,609.58, a 2.10% increase from ¥123,255,771,604.91 at the end of the previous year[4] - Total liabilities increased to ¥94,704,179,883.05 from ¥92,766,165,420.93, a rise of 2.09%[23] - The net capital to net asset ratio stood at 83.85%, up from 81.81%, showing a stronger capital position[15] Shareholder Information - Shareholders' equity attributable to the parent company rose by 2.14% to ¥30,638,050,893.47 from ¥29,996,719,416.38[4] - The total number of ordinary shareholders at the end of the reporting period was 83,207[11] - The company reported a total equity attributable to shareholders of ¥30,638,050,893.47, an increase from ¥29,996,719,416.38[23] Growth Drivers and Future Plans - The increase in revenue and net profit was primarily driven by higher income from financial assets, brokerage services, and investment banking fees[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Non-Recurring Items and Expenses - The company reported non-recurring gains of ¥1,209,108.93, primarily from government subsidies and the reversal of impairment provisions[7] - The total expenses for the current period were ¥552,672,900.88, up from ¥518,274,879.17 in the previous period, reflecting a 6.6% increase[24] Risk Management - Risk coverage ratio improved to 326.68% from 281.46%, indicating enhanced risk management capabilities[15]

Group 1 - The report indicates a slight recovery in trading volume in the Shanghai and Shenzhen markets, with daily trading amounts exceeding 1 trillion yuan over five trading days [2][9] - The newly established equity mutual fund shares saw a significant drop from 3.199 billion shares on Tuesday to 2.299 billion shares on Wednesday [2][9] - The proportion of trading in stock ETFs remained stable, fluctuating between 5% and 6% [2][9] Group 2 - The proportion of strong stocks increased, with over 30% of stocks classified as strong for five consecutive trading days [3][12] - The turnover rate of the broad-based index showed a downward trend, with the last trading day's turnover rate (MA20) dropping to 1.52%, at a percentile of 73.6% over the past two years [3][12] - The 14-day RSI for the entire A-share market rose, reaching 46.13 on Friday [3][12] Group 3 - The CSI 300 index rose by 0.38%, while the ChiNext index increased by 1.74% [4][30] - The automotive and beauty care sectors performed well, with net profit growth forecasts for the real estate and media industries being revised upward [4][30] - The Hang Seng Index increased by 2.74%, with southbound capital transaction volume accounting for 68.05% [4][30] Group 4 - The one-year cross-border RMB comparable interest rate fell to -0.00028, while the US dollar index rose to 99.5836 [4][31] - The report highlights that the stock-bond yield ratios for the entire A-share market, CSI 300, and the low-volatility dividend index are all near two standard deviations [3][12]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 4月15日，近期全球市场"股债汇"三杀！美国不得不低头了？ 新浪证券连线长城证券首席经济学家汪毅 为投资者解析关税对垒下的投资逻辑与机会。>>视频直播 汪毅认为，当前博弈本质是"国际秩序主导权争夺"。相较于美国的胁迫式外交，中国通过提前布局周边 关系、主动提供合作方案，展现出更强的战略准备与诚意。尽管小国受制于现实压力可能摇摆，但中国 在争取欧盟等大型经济体、巩固区域合作等方面已抢占先机。长期来看，产业链自主性与内部市场规模 将成为破局关键。接下来的关键在于观察这两个经济体之间的多层博弈：金融市场博弈、与其他国家的 谈判博弈，以及各自经济韧性的博弈。 他表示，美债的崩盘将是特朗普政府最致命的压力点。美债市场的崩盘不仅会影响到美国政府的融资能 力， 而且还会对全球的金融市场造成冲击。 如果控制不好， 衰退预期将升级为大萧条预期，容易引发 信用危机。 局势一旦蔓延， 美元资产的信用就会崩溃。 美债无人购买， 借新还旧的剧本也无法继续进 行。 汪毅指出，他对今年往后的内需非常有信心。外部刺激逼迫我们进行改革，如果没有外部刺激，内部改 革可能还 ...

汪毅认为，当前博弈本质是"国际秩序主导权争夺"。相较于美国的胁迫式外交，中国通过提前布局周边 关系、主动提供合作方案，展现出更强的战略准备与诚意。尽管小国受制于现实压力可能摇摆，但中国 在争取欧盟等大型经济体、巩固区域合作等方面已抢占先机。长期来看，产业链自主性与内部市场规模 将成为破局关键。接下来的关键在于观察这两个经济体之间的多层博弈：金融市场博弈、与其他国家的 谈判博弈，以及各自经济韧性的博弈。 他表示，美债的崩盘将是特朗普政府最致命的压力点。美债市场的崩盘不仅会影响到美国政府的融资能 力， 而且还会对全球的金融市场造成冲击。 如果控制不好， 衰退预期将升级为大萧条预期，容易引发 信用危机。 局势一旦蔓延， 美元资产的信用就会崩溃。 美债无人购买， 借新还旧的剧本也无法继续进 行。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 4月15日，近期全球市场"股债汇"三杀！美国不得不低头了？ 新浪证券连线长城证券首席经济学家汪毅 为投资者解析关税对垒下的投资逻辑与机会。>>视频直播 长城证券汪毅：美国仅靠自身力量重建制造业是不现实的 或只是构建排他小圈子的借口 汪毅指出，关税政策是 ...

汪毅指出，从长期角度来讲，我个人更倾向于认为中国和美国脱钩的趋势是比较确定的。而且我们的政 府领导人很早就意识到了这一点，主动提出从外循环向双循环的转型。从现在来看，高层的意识是非常 及时和前瞻的，也有一系列应对方案。所以从去年的经济工作会议到今年两会，都把促消费作为第一条 重点。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 4月15日，近期全球市场"股债汇"三杀！美国不得不低头了？ 新浪证券连线长城证券首席经济学家汪毅 为投资者解析关税对垒下的投资逻辑与机会。>>视频直播 第四，说到消费，其实除了我们传统意义上的消费之外，当我们的收入达到一定程度之后，还有一种类 型的消费——服务消费，其实也有很大的潜力。比如在医疗、教育、养老、托育等领域，这些其实都是 薄弱环节。可以看看能不能在这些方面推出更多政策，甚至是一些从投资端的供给政策。"国外也有类 似案例。在过去若干年里，服务消费支出大幅增长，这也是居民在健康、文化和金融等领域消费升级的 需求。这是一种自发需求，如果在政策扶持下，它会增长得更快。" 汪毅强调对于消费的影响和对内循环的支持，还有几个方面非常重要： 第一个是惠民生、扩消 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 4月15日，近期全球市场"股债汇"三杀！美国不得不低头了？ 新浪证券连线长城证券首席经济学家汪毅 为投资者解析关税对垒下的投资逻辑与机会。>>视频直播 汪毅指出，关税对垒后续演变仍存在不确定性。他分析称，世界是一个渐变的过程，具备自我纠错与调 节能力，最终会达成新的平衡。世界格局的重塑往往难以被普通人即时感知。例如，回顾布雷顿森林体 系崩溃前后，像日本等国家在其强盛时期突然遭遇问题，当时普通人难以察觉；2008年全球金融危机 时，需求锐减的情况在年底突然显现，但此前很多人并无明确感知。此次情况类似，外贸企业面临压 力，最新关税后的出口数据尚未体现，需进一步观察。去年，进出口对中国经济贡献显著，尤其在三四 季度。这是第一个方面。第二个方面，美国加征关税后可能陷入滞胀，即通胀上升、经济增长停滞，物 价上涨而收入不增。不过，美国发动贸易战的底气在于美元的世界货币地位，这是其优势所在。 对中国而言，若关税战持续僵持，国内将继续推进去产能。美国大概率不会放松关税，即使特朗普态度 摇摆，但从长期看，关税可能仍会存在。中国多余产能产品若无法进入美国市 ...