广州越秀资本控股集团股份有限公司 （住所：广州市天河区珠江西路 5 号 6301 房自编 B 单元） 2025 年面向专业投资者公开发行公司债券（第四期） 联席主承销商： 担保或其他增信情况： 无担保或其他增信 信用评级结果： 主体 AAA/债项 AAA 信用评级机构： 中诚信国际信用评级有限责任公司 国泰海通证券股份有限公司、中国国际 金融股份有限公司、中信建投证券股份 有限公司、华泰联合证券有限责任公 司、广发证券股份有限公司 本期债券发行金额： 不超过人民币 14 亿元 募集说明书 牵头主承销商、簿记管理人： 中信证券股份有限公司 联席主承销商、受托管理人： 兴业证券股份有限公司 牵头主承销商、簿记管理人 联席主承销商、受托管理人 联席主承销商 签署日期：2025 年11 月6 日 股票简称：越秀资本 股票代码：000987. SZ 发行人： 广州越秀资本控股集团股份有限公司 声 明 发行人将及时、公平地履行信息披露义务。 发行人及其全体董事、高级管理人员或履行同等职责的人员保证募集说明 书信息披露的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 主承销商已对募集说明书进行了核查，确认不存在虚 ...

Financial Performance - In the first three quarters of 2025, the company achieved a net profit attributable to shareholders of 3.01 billion CNY, a year-on-year increase of 75.13% [1] - The net profit for the third quarter alone was 1.45 billion CNY, representing a year-on-year growth of 106.53%, marking a historical high in operational performance [1] - The significant growth is attributed to the successful green transformation, continuous growth in installed capacity of the new energy business, and improved investment management performance [1] New Energy Business - In the first half of 2025, the subsidiary Yuexiu New Energy generated operating revenue of 2.199 billion CNY, a year-on-year increase of 122.37%, and a net profit of 516 million CNY, up 133.80% [2] - The new energy financing leasing business focused on solar, wind, and energy storage, with new investments totaling 5.679 billion CNY, promoting diversification in the new energy product system [2] Investment Management Strategy - The investment management business adheres to a strategy of "industry alliance + research-driven," focusing on high-end equipment manufacturing, semiconductors, new energy, and biomedicine [3] - Since 2025, the company has added 11 new IPO projects, including 7 strategic placements, which are expected to yield significant returns [3] Shareholder Returns - The company has consistently prioritized investor returns, having distributed a total of 6.786 billion CNY in cash dividends since its listing in 2000, with a cash dividend rate of 37.04% for 2024 [4] - In 2025, the company introduced a mid-term dividend plan, distributing 450 million CNY (before tax) on November 12 [4] - Future plans include enhancing core competitiveness and maintaining a stable profit distribution policy while addressing sustainable development and investor interests [4]

Core Insights - Guangzhou has established 11 AIC funds with a total scale exceeding 16.8 billion yuan, supporting key projects in advanced manufacturing, new energy, and next-generation information technology [1][2] Group 1: AIC Fund Overview - The AIC funds are initiated by financial asset investment companies, focusing on equity investments to support technological innovation and strategic emerging industries, characterized by large amounts, long cycles, and high risk tolerance, representing "patient capital" [1] - The total scale of AIC funds in Guangzhou has surpassed 16.8 billion yuan since the approval of the AIC direct equity investment pilot in September 2024 [1] Group 2: Financial Sector Growth - Guangzhou has nearly 400 licensed financial institutions, with total financial assets exceeding 13 trillion yuan [1] - The financial sector's added value in Guangzhou grew by 6.1% year-on-year in the first three quarters of 2025, an increase of 1.3 percentage points compared to the first half of the year, accounting for 10.6% of the city's GDP [1] - As of the end of August, loans to scientific research and technical services in Guangzhou increased by 19.8%, surpassing the average growth rate of all loans by 11.9 percentage points [1] Group 3: Venture Capital Development - Guangzhou is actively cultivating the venture capital market, establishing a 150 billion yuan industrial investment mother fund, a 50 billion yuan venture capital mother fund, and a 10 billion yuan angel mother fund, along with specialized funds for artificial intelligence and biomedicine, each with a scale of 20 billion yuan [2] - The city has nearly 750 private fund managers managing around 4,800 private funds with a total management scale of approximately 530 billion yuan, providing a rich resource for AIC's development in the region [2] Group 4: Future Plans - The Guangzhou Municipal Financial Office plans to continue improving relevant work mechanisms and actively guide AIC to gather more resources to empower high-quality development in Guangzhou, fostering a strong ecosystem of collaboration between AIC and local capital, as well as between industry and finance [2]

Core Viewpoint - Yuexiu Capital's stock price has experienced fluctuations, with a current price of 7.86 CNY per share, reflecting a year-to-date increase of 14.73% but a recent decline over the past five and twenty trading days [1] Financial Performance - For the period from January to September 2025, Yuexiu Capital reported operating revenue of 8.271 billion CNY, a year-on-year decrease of 24.10%, while net profit attributable to shareholders increased by 75.13% to 3.010 billion CNY [2] - Cumulative cash dividends since the A-share listing amount to 7.236 billion CNY, with 3.006 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 70,600, a rise of 6.32%, while the average circulating shares per person decreased by 5.94% to 70,982 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 64.8154 million shares, a decrease of 17.5519 million shares from the previous period [3] Business Segmentation - Yuexiu Capital's main business segments include: - New energy business (43.40%) - Futures business (27.16%) - Financing leasing (23.26%) - Non-performing asset management (4.65%) - Investment management (1.53%) [1]

Market Overview - The diversified financial sector increased by 0.13% on November 6, with State Grid Yingda leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - State Grid Yingda (600517) closed at 7.04, up 3.68% with a trading volume of 1.4731 million shares and a transaction value of 1.038 billion [1] - Jiuding Investment (600053) closed at 20.48, up 3.49% with a trading volume of 143,100 shares and a transaction value of 29.062 million [1] - Other notable performers include ST Nengmao (665009) up 2.00%, Ruida Futures (002961) up 1.18%, and Yuexiu Capital (000987) up 1.00% [1] Capital Flow - The diversified financial sector experienced a net outflow of 286 million from institutional investors, while retail investors saw a net inflow of 370 million [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are increasing their positions [2] Individual Stock Capital Flow - State Grid Yingda had a net inflow of 90.6264 million from institutional investors, but a net outflow of 78.9733 million from retail investors [3] - Jiuding Investment saw a net inflow of 28.4576 million from institutional investors, with retail investors experiencing a net outflow of 2.4573 million [3] - Ruida Futures had a net inflow of 28.3838 million from institutional investors, while retail investors faced a net outflow of 28.8201 million [3]

Group 1 - Triangle Defense signed a gas turbine project development and framework order agreement with Siemens Energy [1] - The development agreement allows Triangle Defense to qualify for supplying specific items to Siemens Energy, detailing technical prerequisites and standards [1] - Triangle Defense specializes in the research, production, and sales of forged products in aviation, aerospace, and shipping industries [1] Group 2 - Aerospace Hongtu was suspended from military procurement for three years due to alleged violations during a procurement activity [2] - The suspension will last from July 6, 2024, to July 6, 2027, affecting the company's participation in military material procurement [2] - Aerospace Hongtu focuses on satellite operations and data collection [3] Group 3 - Kaili Medical's executives purchased a total of 460,000 shares, investing approximately 13.15 million yuan [4] - The average purchase prices were 28.70 yuan and 28.53 yuan per share [4] - Kaili Medical is engaged in the research, production, and sales of medical diagnostic and treatment equipment [5] Group 4 - Muyuan Foods reported a 22.28% year-on-year decline in sales revenue from live pigs in October, totaling 10.33 billion yuan [6] - The average selling price of live pigs decreased by 32.73% year-on-year to 11.55 yuan per kilogram [6] - Muyuan Foods is involved in pig farming and slaughtering [7] Group 5 - Niuwei Co. plans to acquire 40% of its subsidiary Dongwu Machinery for 139 million yuan, aiming for full ownership [8] - Niuwei Co. specializes in the research, manufacturing, and sales of industrial valves [9] Group 6 - Jinlong Automobile reported a 14.71% year-on-year decline in bus sales in October, with 4,121 units sold [10] - Jinlong Automobile focuses on the production and sales of bus products [10] Group 7 - ST Tianshan reported a 242.54% year-on-year increase in sales revenue from live livestock in October, totaling 13.35 million yuan [11] - The company sold 1,367 head of livestock, marking a significant increase compared to previous periods [11] - ST Tianshan is involved in the breeding and sales of cattle and dairy products [12] Group 8 - Ningbo Port expects a 12.4% year-on-year increase in container throughput in October, reaching 4.56 million TEUs [13] - The total cargo throughput is projected to be 99.6 million tons, a 5.3% increase year-on-year [13] - Ningbo Port engages in port handling and logistics services [13] Group 9 - Amcare Pharma received approval for supplementary drug applications and clinical trials for its products [14] - The company is focused on new drug development and utilizes a MAH model for production [14] Group 10 - Lude Environment plans to change its stock name to "Lude Technology" while keeping its full name and stock code unchanged [15] - The company specializes in waste treatment and resource utilization technologies [15] Group 11 - Hualan Co. plans to increase its stake in the company by investing between 30 million and 60 million yuan [16] - The maximum purchase price is set at 58.08 yuan per share [16] - Hualan Co. focuses on the development and sales of packaging materials for injectable drugs [16] Group 12 - Caina Co. is using 140 million yuan of idle funds to purchase structured deposits from a bank, with expected annual yields between 0.70% and 1.85% [17] - Caina Co. specializes in the research, production, and sales of injection and laboratory consumables [17] Group 13 - Zhenghong Technology reported a 52.80% year-on-year decrease in sales revenue from live pigs in October, totaling 4.32 million yuan [18] - The company sold 400 head of pigs, marking a significant decline compared to previous periods [18] - Zhenghong Technology is involved in feed production and pig farming [18] Group 14 - Caida Securities received approval from the CSRC to issue bonds totaling up to 6 billion yuan [19] - The company is engaged in securities brokerage, investment banking, and asset management [19] Group 15 - Jiayuan Technology signed a copper foil supply framework agreement with CATL, establishing a long-term partnership [20] - The agreement includes collaboration in the supply and production of materials for new battery technologies [20] Group 16 - Haikong Group announced the resignation of its general manager due to personal career planning [21] - The company is involved in automotive passenger transport and related services [21] Group 17 - Beizhi Technology's application to acquire 100% of Suzhou Suike Intelligent Technology has been accepted by the Shanghai Stock Exchange [22] - The company specializes in intelligent logistics systems and equipment [22] Group 18 - Yikang Pharma's subsidiary received approval for clinical trials of a new injection for chronic hepatitis B [23] - The company focuses on the production and sales of raw and formulated pharmaceutical products [23] Group 19 - Hengyuan Coal Power plans to acquire 100% of two coal companies for 440 million yuan [24] - The acquisition includes assuming debts totaling 1.137 billion yuan [24] - Hengyuan Coal Power is involved in coal mining and sales [24] Group 20 - Yangpu Medical announced the cancellation of a production arrangement for a medical device [25] - The company specializes in precision medical and testing services [25] Group 21 - Kailong High-Tech plans to establish a 195 million yuan industry fund focusing on unlisted companies [26] - The company is involved in air pollution control and new energy management systems [26] Group 22 - Yingli Co. received approval for its application to acquire a majority stake in a company [27] - The company specializes in precision electronic components and related manufacturing [27] Group 23 - Tianyi Medical's arterial-venous puncture device received EU MDR certification, valid until January 2028 [28] - The company focuses on medical devices for blood purification and care [28] Group 24 - Chuangyuan Co. appointed a new president, effective until the end of the current board term [29] - The company specializes in the design and production of paper products [29] Group 25 - Shanghai Laishi's new indication for a drug received clinical trial approval [30] - The company focuses on the production and sales of blood products [30] Group 26 - Fengmao Co. plans to issue convertible bonds to raise up to 520 million yuan for expansion and working capital [31] - The company specializes in precision rubber components [31] Group 27 - Yinuo Si's shareholder plans to transfer 3% of the company's shares through an inquiry process [32] - The company provides comprehensive R&D services in the biopharmaceutical sector [32] Group 28 - Phoenix Shipping plans to use up to 50 million yuan of idle funds for cash management [33] - The company is involved in dry bulk shipping and logistics services [33] Group 29 - Xingyuan Zhuomei received a notification to supply magnesium alloy components worth 2.021 billion yuan to a new energy vehicle manufacturer [34] - The project is expected to start mass production in the third quarter of 2026 [34] Group 30 - Landai Technology's subsidiary plans to sell electric drive assembly assets for 110 million yuan [35] - The company specializes in power transmission and display technology [35] Group 31 - Yuexiu Capital plans to distribute a cash dividend of 0.90 yuan per share [36] - The company is involved in asset management and private equity [36] Group 32 - Northeast Securities plans to distribute a cash dividend of 1.00 yuan per share, totaling 234 million yuan [37] - The company focuses on wealth management and investment banking [37] Group 33 - Jinguang Electric won a bid for a project from the State Grid worth 21.7976 million yuan [38] - The company specializes in the research and manufacturing of power distribution equipment [39] Group 34 - Huarong Co. plans to repurchase shares worth between 40 million and 125 million yuan [40] - The company focuses on the production and sales of explosion-proof electrical equipment [40] Group 35 - Baiyang Pharma signed a distribution agreement for a blood product, gaining exclusive rights in specific markets [41] - The company specializes in the development and commercialization of medical innovations [41] Group 36 - Li Qun Co.'s director plans to reduce his stake by up to 71,000 shares due to personal financial needs [42] - The company is involved in retail and logistics services [42] Group 37 - Su Li Co.'s shareholder plans to reduce his stake by up to 0.48% of the company's shares [43] - The company specializes in the production and sales of fine chemical products [43] Group 38 - Shenzhen Ruijie obtained a commitment letter for a stock repurchase loan of up to 15.3 million yuan [44] - The company provides project management and evaluation services [44] Group 39 - Fudan Zhangjiang's shareholder plans to reduce his stake by up to 1% of the company's shares [45] - The company focuses on biopharmaceutical research and development [45] Group 40 - Ningbo Zhongbai's shareholder plans to reduce his stake by up to 1% of the company's shares [46] - The company is involved in retail and wholesale operations [46] Group 41 - Jingyi Co. announced a change in control due to a judicial auction of shares [47] - The company specializes in copper processing and digital carbon services [47] Group 42 - Luoping Zinc Electric's subsidiary obtained a new safety production license for mining operations [48] - The company focuses on hydropower and mining activities [48]

Market Overview - The participatory fund sector experienced a decline of 0.14% on November 5, with Daheng Technology leading the drop [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Stock Performance - Notable gainers in the participatory fund sector included: - Guomai Technology (Code: 002093) with a closing price of 11.89, up 3.93% and a trading volume of 627,700 shares, totaling 741 million yuan [1] - Suzhou High-tech (Code: 600736) with a closing price of 6.00, up 1.01% and a trading volume of 202,700 shares, totaling 121 million yuan [1] - Daheng Technology (Code: 600288) was the biggest loser, closing at 16.14, down 2.06% with a trading volume of 320,300 shares, totaling 512 million yuan [2] Capital Flow - The participatory fund sector saw a net outflow of 1.24 billion yuan from institutional investors, while retail investors contributed a net inflow of 690 million yuan [2] - The capital flow for specific stocks showed: - Industrial and Commercial Bank of China (Code: 601398) had a net inflow of 15.1 million yuan from institutional investors [3] - Guomai Technology experienced a net outflow of 73.65 million yuan from retail investors [3]

Core Viewpoint - Yuexiu Capital (000987.SZ) announced its 2025 semi-annual equity distribution plan, detailing a cash dividend of RMB 0.09 per share for all shareholders, with specific amounts for different investor categories [1] Summary by Categories Equity Distribution Plan - The equity distribution plan is based on a total share capital of 4.999 billion shares, excluding 18.27 million repurchased shares [1] - The cash dividend of RMB 0.09 per share is inclusive of tax, while the net amount for certain investors, including those holding shares through the Shenzhen-Hong Kong Stock Connect and foreign institutions, will be RMB 0.081 per share after tax [1] Key Dates - The record date for the equity distribution is set for November 11, 2025, and the ex-dividend date is November 12, 2025 [1]

Group 1 - The core point of the announcement is that Yuexiu Capital has declared a cash dividend of 0.90 yuan per 10 shares (including tax) for the first half of 2025, with no bonus shares or capital reserve transfers [1] - The record date for the dividend distribution is set for November 11, 2025, and the ex-dividend date is November 12, 2025 [1]

Core Viewpoint - The company has announced the approval of its 2025 semi-annual equity distribution plan by the shareholders' meeting, which includes a cash dividend distribution to shareholders [1] Summary by Relevant Sections Dividend Distribution - The company will distribute a cash dividend of 0.90 yuan per 10 shares (including tax) to all shareholders, based on a total share capital of 4.999 billion shares after excluding repurchased shares of 18.269991 million [1] - The total amount of the actual dividend distribution is 450 million yuan [1] Key Dates - The record date for the shareholding is set for November 11, 2025, and the ex-dividend date is November 12, 2025 [1] - The company has entrusted China Securities Depository and Clearing Corporation Limited Shenzhen Branch to distribute cash dividends to A-share shareholders, while some shareholders will receive their cash dividends directly [1]