Group 1 - The core viewpoint of the article is that China Galaxy (601881) acknowledges that its stock price fluctuations are influenced by multiple factors [1] - The company aims to enhance its intrinsic value while improving operational performance [1] - China Galaxy plans to engage in diversified investor communication and market value management efforts to align its market value with intrinsic value [1]

Core Viewpoint - China Galaxy Securities emphasizes the dual strategy opportunities in the pig farming industry, highlighting the potential for price rebounds in 2026 despite a year-on-year decline in pig prices due to production capacity adjustments and industry losses [1] Group 1: CPI and Pork Prices - In December, China's CPI increased by 0.8% year-on-year, with food prices rising by 1.1%, while pork prices fell by 14.6% year-on-year [1] - The month-on-month CPI rose by 0.2%, with food prices increasing by 0.3%, but pork prices decreased by 1.7% [1] Group 2: Fruit and Vegetable Prices - Seasonal increases in fresh fruit prices are the main driver of the current food CPI, while vegetable price growth has slowed [2] - January vegetable prices averaged 5.59 yuan/kg, up 6.37% year-on-year, with expectations for continued price increases in Q1 due to the later timing of the Spring Festival and weather impacts [2] - January fruit prices averaged approximately 7.88 yuan/kg, up 8.87% year-on-year, marking the highest level for the same period since 2020 [2] Group 3: Feed Raw Material Prices - In January, the average price of corn was 2364.6 yuan/ton, up 0.69% month-on-month and 10.55% year-on-year, with expectations for a stable price range in 2026 [3] - The average price of soybean meal was 3198.97 yuan/ton, up 1.94% month-on-month and 3.82% year-on-year, with a forecast of slight upward movement in 2026 [3] - Overall, the prices of feed raw materials are expected to remain stable, indicating no significant increase in breeding cost pressures [3] Group 4: Pig Farming Outlook - Following a price increase in late December 2025, pork prices are expected to face downward pressure after the Spring Festival due to seasonal consumption patterns [4] - The annual average price of pigs is projected to decline year-on-year, although there may be temporary rebounds influenced by seasonal disease impacts [4]

Core Viewpoint - The implementation opinions released by the Ministry of Industry and Information Technology and other departments aim to enhance the infrastructure for low-altitude economy, with a target of achieving at least 90% ground mobile communication coverage for low-altitude air routes by 2027 [1] Group 1: Infrastructure Development - The opinions emphasize the need for demand-driven development, focusing on areas with conditional low-altitude flight activities to promote the coordinated development of information infrastructure and low-altitude applications [1] - A multi-faceted approach will be adopted, utilizing existing public mobile communication facilities and integrating ground mobile communication, satellite communication, and other technologies to support low-altitude applications [1] - The plan includes the establishment of at least 10 information infrastructure standards by 2027, targeting typical low-altitude application scenarios in urban governance, logistics, and cultural tourism [1] Group 2: Communication Network Enhancement - The demand for 5G-A integrated sensing base stations is expected to rise, driven by the need for low-altitude communication network coverage in areas below 300 meters [2] - The opinions call for optimizing existing 5G infrastructure through beam optimization, antenna adjustments, and new base station construction to enhance low-altitude mobile communication network coverage [2] - Collaboration between telecom operators and relevant national departments is encouraged to align with the development scale and scenario needs of low-altitude applications [2] Group 3: Navigation and Positioning Accuracy - The traditional ground 5G base stations primarily serve ground users, leading to signal blind spots and interference in low-altitude coverage [3] - The opinions specify the need for new base stations and optimization measures to provide continuous coverage for low-altitude air routes, addressing signal blind spots and frequent switching issues [3] - Satellite communication will work alongside ground stations to reduce latency and improve navigation accuracy and drone positioning [3] Group 4: Investment Recommendations - Companies such as China Mobile, China Unicom, and China Telecom, as well as satellite internet-related firms like Huace Navigation, Zhonghaida, and Fenghuo Communication, are recommended for investment [3] - Low-altitude infrastructure companies like Huagong Technology and Xinke Mobile are also highlighted as potential investment opportunities [3]

本公告乃由中國銀河證券股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站發佈之《北京市金杜律師事務所關於中國銀 河證券股份有限公司2026年第一次臨時股東會的法律意見書》，僅供參閱。 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之內容概不負責，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分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 海外監管公告 承董事會命 中國銀河證券股份有限公司 王晟 董事長及執行董事 中國北京 2026年2月12日 於本公告日期，本公司執行董事為王晟先生（董事長）、薛軍先生（副董事長及總 裁）及屈艷萍女士；非執行董事為楊體軍先生、李慧女士、黃焱女士及宋衛剛先 生；以及獨立非執行董事為羅卓堅先生、劉力先生、麻志明先生及范小雲女士。 4. 公司本次股东会股权登记日的股东名册； 5. 出席现场会议的相关人员的到会登记记录及凭证资料； 北京市金杜律师事务所 关于中国银河证券股份有限公司 2026 ...

Core Viewpoint - China Galaxy Securities has received regulatory approval for multiple bond issuance quotas, which may be adjusted based on market conditions [1] Group 1: Company Project Advancement - China Galaxy has been approved to publicly issue corporate bonds with a total face value not exceeding 30 billion yuan, valid for 24 months starting from January 13, 2026 [2] - The company has also been approved to issue subordinated bonds not exceeding 20 billion yuan, valid for 24 months starting from February 4, 2026 [2] - These approvals allow the company to issue bonds in phases within the validity period to supplement operational or liquidity needs, with specific issuance timing and scale to be announced later [2] Group 2: Company Business Status - The company continues to expand in the cross-border mergers and acquisitions sector, with multiple projects underway in Southeast Asia, although specific timelines have not been disclosed [3] - The company needs to monitor industry policy dynamics, such as the impact of capital market reforms on brokerage stocks [3]

Group 1 - The core point of the article is the election of Ms. Qu Yanping as the executive director of the fifth board of directors of China Galaxy Securities [1] Group 2 - The election was approved by the company's shareholders at a temporary shareholders' meeting [1]

Group 1 - The core point of the article is the election of Ms. Qu Yanping as an executive director of the fifth board of directors of China Galaxy Securities [1] Group 2 - The election was approved by the company's shareholders at a temporary shareholders' meeting [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之內容概不負責，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分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 董事長及執行董事 中國北京 2026年2月12日 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 海外監管公告 本公告乃由中國銀河證券股份有限公司（「本公司」）根據香港聯合交易所有限公司 證券上市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站發佈之《中國銀河證券股份有限公司關於行 使「21銀河Y1」發行人贖回選擇權的第二次提示性公告》，僅供參閱。 承董事會命 中國銀河證券股份有限公司 王晟 中国银河证券股份有限公司（以下简称"公司"或"发行人"）于 2026 年 2 月 7 日披露了《中国银河证券股份有限公司公开发行 2021 年永续次级债券（第 一期）发行人不行使续期选择权暨行使赎回权并全额兑付的公告》（公告编号： 2026-015），本公告为上述事项的提示性公告。 公司于 2021 年 3 月 29 日完成中国银河证券股份有限公司公开发行 2021 年永续次级债券 ...

羅卓堅先生 劉力先生 麻志明先生 范小雲女士 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 董事名單與董事角色和職能 中國銀河證券股份有限公司董事（「董事」）會（「董事會」）成員載列如下︰ 執行董事︰ 王晟先生 （董事長） 薛軍先生 （副董事長及總裁） 屈艷萍女士 非執行董事︰ 楊體軍先生 李慧女士 黃焱女士 宋衛剛先生 獨立非執行董事︰ 1 董事會設有4個委員會，下表載列各董事在該等委員會所擔任的職位。 | 董事委員會 | | | | | | | --- | --- | --- | --- | --- | --- | | | 戰略與ESG | | | 提名與薪酬 | 合規與風險 | | 董事 | 發展委員會 | | 審計委員會 | 委員會 | 管理委員會 | | 王晟先生 | | C | | | | | 薛軍先生 | | M | | | M | | 屈艷萍女士 | | | | | | | 楊體軍先生 | | M | M | | M | | 李慧女士 | | | M | M | C | | 黃焱女士 | | M | | M | | | 宋衛剛先生 | | M | | | | | 羅卓堅 ...

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之內容概不負責，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分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立之股份有限公司） （股份代號：06881） 公告 2026年第一次臨時股東會投票表決結果 中國銀河證券股份有限公司（「本公司」）董事會（「董事會」）宣佈，本公司於2026 年2月12日（星期四）於中國北京市豐台區西營街8號院1號樓青海金融大廈M1919 會議室舉行2026年第一次臨時股東會（「臨時股東會」或「會議」）。臨時股東會上提 呈之決議案獲正式通過。 I. 臨時股東會投票表決結果 於臨時股東會當日，本公司已發行股份總數為10,934,402,256 股（包括 7,243,417,623股A股和3,690,984,633股H股）。 就於臨時股東會上提呈之第1項決議案，合共持有本公司10,934,402,256股股 份的股東，即代表本公司已發行股份總數的100%，有權出席臨時股東會及 就會上提呈之第1項決議案表決。就於臨時股東會上提呈之第2項決議案，中 國銀河金融控股有限責任 ...