茲提述廣發証券股份有限公司（「本公司」）(i)日期為2025年11月6日的2025年第二 次臨時股東大會（「臨時股東大會」）通函及通告及日期為2025年11月26日的臨時 股東大會投票表決結果公告，內容有關授予本公司董事會（「董事會」）發行本公司 H股股份（「H股股份」）的一般性授權；及(ii)日期為2026年1月7日及1月14日的公 告，內容有關（其中包括）本公司按照每股18.15港元的配售價向符合條件的獨立 投資者配售合共219,000,000股H股股份（「H股配售」）。 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。 GF SECURITIES CO., LTD. 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） 關於完成註冊資本工商變更登記並修訂公司章程的公告 承董事會命 廣發証券股份有限公司 林傳輝 董事長 於臨時股東大會上，本公司股東已授權董事會批准本公司在發行新股後增加註冊 資本及對本公司《公司章 ...

| 第一章 | 總則 4 | | --- | --- | | 第二章 | 經營宗旨和範圍 7 | | 第三章 | 股份 8 | | 第一節 | 股份發行 8 | | 第二節 | 股份增減和回購 11 | | 第三節 | 股份轉讓 13 | | 第四節 | 股權管理事務 14 | | 第四章 | 股東和股東會 18 | | 第一節 | 股東 18 | | 第二節 | 股東會的一般規定 26 | | 第三節 | 股東會的召集 30 | | 第四節 | 股東會的提案與通知 32 | | 第五節 | 股東會的召開 35 | | 第六節 | 股東會的表決和決議 40 | | 第五章 | 董事和董事會 46 | | 第一節 | 董事 46 | | 第二節 | 獨立董事 51 | | 第三節 | 董事會 60 | | 第四節 | 董事會專門委員會 71 | | 第五節 | 董事會秘書 81 | 廣發証券股份有限公司章程 2026年2月 （經公司2025年第二次臨時股東大會授權修訂） # 本公司章程的原始版本為中文，其英文版本為中文版本的譯本。若章程中英版本存有任何歧義， 應以中文版本為準。 1 | | | | 第六章 | ...

[Table_scodeMsg1] 公司研究丨深度报告丨广发证券（000776.SZ） [Table_Title] 广发证券深度报告：大湾区迈向国际一流的财富 管理先驱 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 随着慢牛市延续，财富管理有望迎来黄金发展期，广发证券凭借区位优势、多元化布局、市场 化机制，围绕财富管理业务形成较强先发优势。展望中长期，一方面财富管理成券商竞争"胜 负手"，广发成长潜质优于同业，另一方面公司发力国际业务，强化跨境综合能力，自营也有望 受益于风控指标优化。 分析师及联系人 [Table_Author] 吴一凡 戴永飞 SAC：S0490519080007 SAC：S0490524070001 SFC：BUV596 请阅读最后评级说明和重要声明 2 / 24 %% %% %% %% research.95579.com 2 [Table_scodeMsg2] 广发证券（000776.SZ） cjzqdt11111 [Table_Title 广发证券深度报告：大湾区迈向国际一流的财 2] 富管理先驱 以区 ...

Market Overview - The A-share market experienced a downward trend with the three major indices declining, particularly the ChiNext index which fell by 0.96% to 3295.99 points. The Shanghai Composite Index closed at 4105.04 points, down 0.70%, and the Shenzhen Component Index at 14187.44 points, down 0.67% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.33 trillion yuan, an increase of 30.7 billion yuan compared to the previous trading day [1] Sector Performance - The shipbuilding, aerospace, high-bandwidth memory, digital watermarking, space station concepts, and intellectual property sectors showed strong performance, while the CPO concept, small metals, photovoltaic equipment, shipping ports, mining, and glass fiber sectors lagged behind [1] - The military industry sector led the gains, with stocks like Yaxing Anchor Chain hitting the daily limit. The semiconductor sector was also active, with significant increases in photolithography machines and materials [2] Individual Stock Movement - Over 2600 stocks in the market experienced declines, indicating a broad-based sell-off [3] Institutional Insights - According to Zhongyin Securities, the real estate market is expected to improve by 2026, with recommendations to focus on companies with stable fundamentals and high market share in key cities, as well as those making significant breakthroughs in sales and land acquisition [4] - Galaxy Securities highlighted the increasing demand for specialty fiberglass cloth driven by AI computing power, predicting a continued high demand due to technological advancements in electronic information technology [4] Economic Indicators - The National Bureau of Statistics reported that the decline in residential sales prices across 70 major cities narrowed in January 2026, indicating a potential stabilization in the real estate market [5] Central Bank Actions - The People's Bank of China plans to issue 50 billion yuan in central bank bills on February 25, 2026, to enhance the RMB financial product offerings in Hong Kong and improve the yield curve [6] Regulatory Changes - Recent reforms in refinancing regulations by the three major exchanges are expected to benefit leading brokerage firms, with many planning to leverage these changes to enhance their investment banking services [7] - Smaller brokerages are looking to differentiate themselves by focusing on the North Exchange's refinancing market as a key development area [8]

Core Viewpoint - The report from GF Securities highlights the acceleration in the improvement of the national unified electricity market system, which is expected to enhance the complexity of trading entities, trading volumes, and transactions [1] Group 1: Policy and Market Structure - The State Council recently issued the "Implementation Opinions on Improving the National Unified Electricity Market System," emphasizing the need to accelerate the establishment of market and pricing mechanisms suitable for the new energy system [2] - The document is of high significance as it is directly issued by the State Council, indicating a stronger push for coordinated advancement [3] - The report sets a new target for 2035, aiming for a fully established national unified electricity market system, with a steady increase in the proportion of market-based trading volumes [3] Group 2: Market Composition and Reform Directions - The report outlines the construction of a multi-dimensional market system, including long-term markets, spot markets, ancillary service markets, green electricity markets, and capacity markets, with a focus on the spot market's development [3] - It emphasizes the need for unified pricing and joint trading across different market levels, moving away from isolated trading practices [3] Group 3: Market Participation and Energy Sources - By 2030, all types of power sources and electricity users, except for guaranteed users, are expected to participate directly in the electricity market, with market-based trading volumes accounting for approximately 70% of total electricity consumption [4] - The report encourages various forms of renewable energy to participate in the electricity market, supporting large-scale renewable energy bases and distributed generation to engage in market transactions [4]

Group 1 - The A-share market opened lower on February 13, 2026, with the securities sector experiencing fluctuations, as evidenced by the China Securities Index rising by 0.22% [1] - Recent policies from the Shanghai, Shenzhen, and Beijing stock exchanges aim to optimize refinancing mechanisms, which are expected to benefit brokerage firms' investment banking businesses [1] - The new refinancing mechanism emphasizes support for high-quality and high-tech companies, with specific criteria for asset-light and high R&D investment firms, addressing the capital challenges faced by innovative enterprises [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the China Securities Index accounted for 60.66% of the index, including major firms like Dongfang Caifu and CITIC Securities [2] - The securities ETF managed by Harvest (562870) closely tracks the China Securities Index, providing comprehensive coverage of the securities industry [2] - Investors without stock accounts can access brokerage sector opportunities through the Harvest Securities ETF linked fund (016842) [3]

Group 1 - The Securities ETF Index Fund (516200) opened with a slight increase of 0.09%, priced at 1.134 yuan [1] - Major holdings in the Securities ETF Index Fund include Dongfang Caifu, which rose by 0.18%, and other securities firms like CITIC Securities and Huatai Securities, which remained stable or showed minor fluctuations [1] - The fund's performance benchmark is the CSI All Share Securities Company Index return rate, managed by Huaan Fund Management Co., Ltd., with a return of 13.19% since its inception on March 9, 2021, and a recent one-month return of -5.46% [1]

东吴证券认为，尽管南向资金加速流入，但港股整体成交缩量，观望情绪浓厚，短期建议防御策略为 主。 东方财富证券分析师付原表示，港股估值处于历史低位(恒指PE仅12倍)，南向资金抄底吸引力增强，被 错杀的优质标的有望反弹。 恒生指数低开1.45%，恒生科技指数跌1.59%。科网股走低，阿里巴巴跌超2%。黄金股下跌，紫金黄金 国际跌超3%，灵宝黄金跌超2%。 关于港股后市 中金公司指出，港股回调源于美联储鹰派预期、AI资本开支回报质疑及制造业PMI偏弱的"三重压力"， 短期存在超调，有向上修复空间，但中期指数空间有限，机会在于必需零售、科技硬件等景气结构。 建银国际首席经济学家赵文利判断，港股估值修复已基本到位，投资逻辑正从"估值修复"转向"新质生 产力"的重估。广发证券则指出，春节前后港股或跟随A股出现阶段性上涨，但需警惕节后日历效应不 明显的风险。 本文转载自"腾讯自选股"，智通财经编辑：蒋远华。 ...

Group 1 - The fund "Jiangxin Huifu Regular Open Bond Fund" will only open for subscription, redemption, and conversion, not for regular investment [1] - The first open period for the fund is from February 26, 2026, to March 4, 2026, after which it will enter a closed operation cycle [2][27] - The fund operates on a three-month closed period followed by an open period of 5-10 working days [2][27] Group 2 - The minimum initial subscription amount through the direct sales center is RMB 1,000, while the minimum for additional subscriptions is also RMB 1,000 [3] - For other sales agencies, the minimum initial subscription is RMB 10, and the minimum for additional subscriptions is RMB 10 [3] - There are no subscription fees for investors when purchasing fund shares [6] Group 3 - Investors can redeem all or part of their fund shares, with a minimum redemption of 10 shares through sales agencies [8] - The fund management can adjust the redemption share limits as permitted by law [9] - Redemption fees are applicable based on the holding period, with specific conditions for shares held for less than 7 days [9] Group 4 - Fund conversion involves transferring shares from one fund to another managed by the same company, with specific fee structures based on the redemption and subscription fees of the involved funds [10][11] - Conversion requests must be made within the same sales institution and are subject to specific rules regarding fee structures [15][16] - The holding period for converted shares will restart from the date of confirmation of the new fund shares [17] Group 5 - The fund management company will disclose the net asset value of the fund at least once a week during the closed period and daily during the open period [25] - Investors can access detailed information about the fund through the management company's website or customer service hotline [28] - The fund management may adjust the business rules within the legal framework and fund documents [19]

Core Viewpoint - The A-share market is expected to experience its first wave of upward momentum in the Year of the Horse, with optimism surrounding sectors such as the AI industry chain, space photovoltaics, and non-bank financials [1][2]. Group 1: Market Timing - The spring market rally is anticipated to begin in February, historically the strongest period for such movements, with a 100% probability of small-cap indices rising between the Spring Festival and the National People's Congress [1]. - Previous instances of early spring rallies occurred during economic upturns or policy shifts, with notable years being 2013, 2014, 2015, and 2020 [2]. Group 2: Market Conditions - The release of annual report forecasts has alleviated negative fundamental disturbances, with a record high of companies reporting low expectations or losses in 2025 [2]. - As negative financial news is digested, the market is expected to be in a better position starting in February, allowing for a more favorable trading environment [2]. Group 3: Investment Strategy - The correlation between spring rallies and corporate performance is strong, with recommended sectors including the ByteDance industry chain, space photovoltaics, and non-bank sectors such as brokerage and insurance [2]. - Other sectors to consider for investment include optical modules, semiconductors, humanoid robots, chips, PCBs, and innovative pharmaceuticals, with additional tracking suggested for metals, satellites, storage, chemicals, and power grids [2].