东方财富证券将严格按照有关法律法规和上述批复文件的要求办理发行公 司债券相关事宜，公司将及时履行信息披露义务。 证券代码：300059 证券简称：东方财富 公告编号：2026-028 东方财富信息股份有限公司 一、同意东方财富证券向专业投资者公开发行面值总额不超过400亿元公司 债券的注册申请。 二、本次发行公司债券应严格按照报送深圳证券交易所的募集说明书进行。 三、本批复自同意注册之日起24个月内有效，东方财富证券在注册有效期内 可以分期发行公司债券。 四、自同意注册之日起至本次公司债券发行结束前，东方财富证券如发生重 大事项，应及时报告并按有关规定处理。 关于子公司东方财富证券股份有限公司向专业投资者公开发行 公司债券获得中国证监会注册批复的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 东方财富信息股份有限公司（以下简称"公司"）子公司东方财富证券股份 有限公司（以下简称"东方财富证券"）收到中国证券监督管理委员会《关于同 意东方财富证券股份有限公司向专业投资者公开发行公司债券注册的批复》（证 监许可〔2026〕601号），主要内容如下： 特此公告 ...

Group 1: Report Industry Investment Rating No relevant content provided. Group 2: Core Views of the Report - From March 23rd to March 27th, 2026, the equity market fluctuated downward overall. The A - share market and the Hong Kong stock market both declined, while the convertible bond market recovered, the bond market was strong, and the commodity futures performance was differentiated [5][10][11]. - The equity market's weekly trend was first down and then up. The initial decline was due to the escalation of the US - Iran conflict and the Fed's hawkish stance, and the subsequent rise was driven by Trump's signal of easing and indirect negotiations between the US and Iran [14]. - The convertible bond market went up this week, but the trading activity decreased significantly, and it may still be affected by the US - Iran conflict in the short term [18]. - The bond market yield mainly declined this week. The initial pressure was due to inflation concerns caused by high oil prices, and the subsequent decline in inflation expectations was affected by the easing of the US - Israel - Iran situation, but the rebound of risk assets restricted the decline of interest rates. The liquidity was stable near the end - of - quarter point [22]. - The South China Commodity Index showed a differentiated performance this week, with precious metals leading the decline and metals strengthening. Gold prices continued to fluctuate downward, and the short - term trend may still be volatile [32][33]. Group 3: Summary According to the Directory 1. This Week's Performance of Major Asset Classes - The equity market fluctuated downward. The Shanghai Composite Index fell 1.1%, the Shenzhen Component Index fell 0.76%, the ChiNext Index fell 1.68%, the Shanghai - Shenzhen 300 Index fell 1.41%, the Hang Seng Index fell 1.29%, and the Hang Seng Technology Index fell 1.94%. The total trading volume of the Shanghai and Shenzhen stock markets was 10.49 trillion yuan [5][10][13]. - The convertible bond market recovered. The China Securities Convertible Bond Index rose 1.28% this week and fell 5% in the past month; the Shanghai Convertible Bond Index rose 1.06% this week and fell 5.56% in the past month [5][10][13]. - The bond market was strong. The yields of 1 - year, 3 - year, 5 - year, 7 - year, 10 - year, and 30 - year China Bond Treasury bonds all declined [5][10][22]. - The commodity futures performance was differentiated. COMEX gold fell 0.05%, COMEX silver rose 2.89%, LME copper rose 2.59%, LME aluminum rose 2.9%, WTI crude oil rose 1.44%, SHFE rebar rose 0.03%, CBOT soybeans fell 0.09%, and CBOT corn fell 0.97% [5][11][13]. 2. Performance of the Equity Market - Stocks - The equity market fluctuated downward this week. The Shanghai Composite Index adjusted at the beginning of the week, then rose, declined slightly on Thursday, and closed up on Friday [14]. - Most industries fell this week. Non - bank finance, comprehensive finance, computer, media, national defense and military industry, agriculture, forestry, animal husbandry and fishery led the decline, while power and public utilities, basic chemicals, and non - ferrous metals led the rise [14]. - The market rotation was still active this week. The rebound was mainly driven by previous main lines such as computing power, non - ferrous metals, and power. In addition, the innovative drug and new energy sectors also performed well [14]. 3. Performance of the Equity Market - Convertible Bonds - The equity market fluctuated weakly this week, but the convertible bond market rose. The China Securities Convertible Bond Index rose 1.28% and the Shanghai Convertible Bond Index rose 1.06% this week. The trading volume of convertible bonds and underlying stocks decreased significantly compared with last week [18]. - The convertible bond market may still be affected by the US - Iran conflict in the short term [18]. 4. Performance of the Fixed - Income Market - The bond market yield mainly declined this week. The yields of 1 - year, 3 - year, 5 - year, 7 - year, 10 - year, and 30 - year China Bond Treasury bonds all declined [22]. - The initial pressure on the bond market was due to inflation concerns caused by high oil prices, and the subsequent decline in inflation expectations was affected by the easing of the US - Israel - Iran situation, but the rebound of risk assets restricted the decline of interest rates [22]. - The liquidity was stable near the end - of - quarter point, which may have moderated the adjustment range of the bond market [22]. 5. Performance of the Commodity Market - The South China Commodity Index showed a differentiated performance this week. The comprehensive index fell 0.25%, the energy and chemical index fell 0.12%, the metal index rose 1.45%, the precious metal index fell 2.75%, the industrial product index rose 0.04%, and the agricultural product index fell 1.15% [32]. - The gold price continued to fluctuate downward this week. The short - term trend may still be volatile, and it may need the easing of the US - Israel - Iran situation to strengthen again [33].

Investment Rating - The report does not explicitly state an overall investment rating for the financial industry but provides specific recommendations for various sectors and companies within the industry [4]. Core Insights - The financial industry experienced a decline this week, with the non-bank financial index down by 3.98%, underperforming the CSI 300 index by 2.57 percentage points. The banking sector, however, showed resilience with a decline of only 0.71%, outperforming the CSI 300 index by 0.7 percentage points [10][1]. - The insurance sector reported significant profit growth driven by investments, although Q4 results were impacted by stock market volatility. The long-term fundamentals of the insurance industry remain intact, suggesting potential for valuation and performance recovery [1][17]. - The brokerage sector saw a 3.61% decline, with 14 listed brokerages reporting a combined revenue of 271.68 billion yuan and a net profit of 109.02 billion yuan, reflecting year-on-year increases of 37.7% and 54.8%, respectively [2][18]. - The banking sector's performance showed marginal improvement, with 13 listed banks reporting revenue and net profit growth of 0.85% and 1.08%, respectively. The net interest income is expected to stabilize, contributing to a more favorable outlook for 2026 [3][21]. Summary by Sections Insurance Sector - The insurance sector index fell by 5.52%, underperforming the CSI 300 index by 4.11 percentage points. The annual reports of listed insurance companies showed significant profit growth driven by investments, with notable Q4 declines due to market fluctuations [1][14]. - The net profit growth for major insurers was led by China Taiping (+221%), followed by China Life (+44%) and New China Life (+38%). The new business value (NBV) also saw substantial increases across the board [14][17]. - Recommendations include China Ping An, China Taiping, and New China Life, with a focus on long-term value recovery in the sector [4][17]. Brokerage Sector - The brokerage sector index decreased by 3.61%, with a reported combined revenue of 271.68 billion yuan and a net profit of 109.02 billion yuan from 14 listed brokerages, indicating strong recovery driven by market conditions [2][18]. - The return on equity (ROE) for these brokerages improved by 1.56 percentage points to 7.5%. The report suggests that the brokerage sector is experiencing a significant recovery in profitability [18][19]. - Recommended stocks include Guotai Junan, Huatai Securities, and Xingye Securities, focusing on firms with strong fundamentals and potential for mergers and acquisitions [4][19]. Banking Sector - The banking sector index fell by 0.71%, with 13 listed banks reporting revenue and net profit growth of 0.85% and 1.08%, respectively. The net interest margin is expected to stabilize, contributing to a positive outlook for 2026 [3][21]. - The report highlights that the asset quality remains stable, with a slight decrease in the non-performing loan ratio to 1.21% and an average provision coverage ratio of 232% [22][24]. - Recommended banks include Hangzhou Bank and Bank of China (H), with a focus on banks with high dividend yields and strong earnings potential [4][24].

Core Viewpoints - The non-bank financial industry is experiencing a positive trend in its fundamentals due to deepening capital market reforms, with a projected 30% profit growth over the next 25 years [5][10] - The average daily trading volume in the Shanghai and Shenzhen markets is 21.1 trillion CNY, reflecting a 4.5% decrease week-on-week [5] - The net profit of 150 securities companies is expected to reach 219.439 billion CNY in 2025, representing a year-on-year increase of 31.2% [5] Group 1: Industry Performance - As of March 28, 2026, the Shanghai Composite Index is at 3913.72 points, down 1.09%, while the Shenzhen Component Index is at 13760.37, down 0.76% [10] - The non-bank financial sector indices have seen declines of 3.55% and 5.72% for securities and insurance, respectively [10] Group 2: Insurance Sector Insights - The insurance sector's annual reports show a slowdown in growth due to changes in the market environment in Q4, but the long-term trend remains positive [16] - The net profit growth for insurance companies is expected to be in double digits for the year, despite a high base in 2024 [16] - Key stocks to watch in the insurance sector include China Pacific Insurance, Ping An Insurance, and China Life Insurance [16] Group 3: Securities Sector Developments - The introduction of a "light asset, high R&D" recognition standard has been expanded to the main board, enhancing the inclusivity of the capital market [17][18] - The new standards aim to improve the flexibility of refinancing rules and guide funds towards key technology sectors [18] - The adjustments to the standards include raising the R&D investment ratio for the ChiNext board from 3% to 5%, reinforcing the board's positioning [21] Group 4: Investment Recommendations - The report suggests focusing on companies with strong quarterly performance catalysts, including CITIC Securities, Huatai Securities, and China Merchants Securities [5] - In the insurance sector, recommended stocks include China Taiping, New China Life, and AIA Group [16] - For Hong Kong stocks, quality dividend stocks such as China Shipbuilding Leasing and Hong Kong Exchanges are highlighted [5]

证券代码：300059 证券简称：东方财富 公告编号：2026-027 东方财富信息股份有限公司 关于举行 2025 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 投资者可登录公司东方财富路演平台 https://roadshow.eastmoney.com/luyan/5 170119，或扫描以下二维码，参与本次业绩说明会： 为广泛听取投资者的意见和建议，提升沟通交流效果，本次业绩说明会提前 向投资者征集问题。公司将在本次业绩说明会上就投资者普遍关注的问题进行回 答。 欢迎广大投资者积极参与本次业绩说明会。 特此公告。 东方财富信息股份有限公司董事会 二〇二六年三月二十七日 东方财富信息股份有限公司（以下简称"公司"）2025年年度报告已于2026 年3月20日披露，为了让广大投资者进一步了解公司2025年年度报告及经营情况， 公司定于2026年4月3日下午15:00－17:00，举行2025年度网上业绩说明会。 本次业绩说明会采用网络远程的方式举行，出席本次业绩说明会的人员有： 公司董事长其实先生，副董事长、总经理黄建海女士，副 ...

Group 1 - The Securities ETF Huashan (516200) opened down 0.91% at 0.982 yuan on March 27 [1][2] - Major holdings of the Securities ETF Huashan experienced declines, including Dongfang Wealth down 0.99%, CITIC Securities down 0.33%, and Guotai Junan down 0.78% [1][2] - The performance benchmark for the Securities ETF Huashan is the CSI All Share Securities Company Index return, managed by Huashan Fund Management Co., Ltd. [1][2] Group 2 - Since its establishment on March 9, 2021, the Securities ETF Huashan has returned -1.01%, with a return of -11.09% over the past month [1][2]

Group 1 - The Securities ETF Guolianan (159848) opened at 0.822 yuan, down 0.36% on March 27 [1] - Major holdings in the ETF, including Dongfang Caifu, CITIC Securities, and Guotai Junan, experienced declines ranging from 0.33% to 0.99% [1][2] - The ETF's performance benchmark is the CSI All Share Securities Company Index, with a return of 2.12% since its inception on February 9, 2021, and a recent one-month return of -11.11% [2] Group 2 - A MACD golden cross signal has formed, indicating potential upward momentum for certain stocks [3]

Core Viewpoint - The performance of four internet brokerage information service companies—Dongfang Caifu, Tonghuashun, Guiding Compass, and Dazhihui—has shown significant differentiation in scale, growth rate, and profitability amidst the "AI + Finance" trend [2][4]. Performance Differentiation - Dongfang Caifu leads with a total revenue of 16.068 billion yuan in 2025, a year-on-year increase of 38.46%, and a net profit of 12.085 billion yuan, up 25.75% [4]. - Tonghuashun demonstrates strong profitability with a revenue of 6.029 billion yuan, growing 44%, and a net profit of 3.205 billion yuan, which surged 75.79% [5]. - Guiding Compass emerged as a dark horse with a revenue of 2.146 billion yuan, up 40.39%, and a net profit of 228 million yuan, a remarkable increase of 118.74% [6]. - Dazhihui, while still in a transformation phase, reported a revenue of 827 million yuan, a 7.23% increase, and a reduced net loss of 44.025 million yuan, down 78.13% from the previous year [8]. Strategic Focus on AI - All four companies are focusing on AI as a core area for technological development, with Dongfang Caifu integrating its self-developed "Miaoxiang" model into its ecosystem [10][11]. - Tonghuashun is building an integrated platform for "AI + Financial Information Services," leveraging its extensive user base and technological capabilities [11]. - Guiding Compass is increasing its R&D investment, focusing on enhancing product intelligence through AI [12]. - Dazhihui is embedding AI capabilities into its product services, aiming for intelligent upgrades across various service modules [12]. Market Outlook - The competition among internet brokerages is shifting from user scale to technological depth and ecosystem integration, with a focus on successfully implementing the "AI + Finance" business model [12].

Group 1 - The Securities ETF Guotai (512880) opened at a decline of 0.38%, priced at 1.055 yuan [1][2] - Major holdings in the Securities ETF Guotai include Dongfang Wealth down 0.45%, CITIC Securities down 0.32%, Guotai Haitong down 0.23%, Huatai Securities down 0.37%, GF Securities down 0.27%, China Merchants Securities down 0.07%, Dongfang Securities down 0.22%, Industrial Securities down 0.16%, Shenwan Hongyuan unchanged, and CICC down 0.06% [1][2] - The performance benchmark for the Securities ETF Guotai is the CSI All Share Securities Company Index return, managed by Guotai Fund Management Co., Ltd., with a fund manager named Ai Xiaojun [1][2] - Since its establishment on July 26, 2016, the Securities ETF Guotai has achieved a return of 5.92%, while the return over the past month has been -10.05% [1][2]

Group 1 - The Securities and Insurance ETF E Fund (512070) opened at 0.801 yuan, down 0.25% [1][2] - Major holdings in the ETF include China Ping An, Dongfang Wealth, CITIC Securities, Guotai Junan, China Taiping, Huatai Securities, China Life, GF Securities, China Merchants Securities, and Xinhua Insurance, all showing declines ranging from 0.02% to 0.65% [1][2] - The ETF's performance benchmark is the CSI 300 Non-Bank Financial Index, managed by E Fund Management Co., Ltd., with a fund manager named Yu Haiyan [1][2] Group 2 - Since its establishment on June 26, 2014, the ETF has achieved a return of 140.85%, while its return over the past month has been -9.90% [1][2]