按照《上海证券交易所上市公司自律监管指引第 5 号——交易与 关联交易（2025 年 3 月修订） 料，并审阅京能财务的定期财务报告，对京能财务的经营资质、业务 和风险状况进行了收集、整理，具体情况如下： 一、京能财务基本情况 京能财务前身为"东北制药集团财务公司" ，经收购重组于 2006 》的要求，通过查验京能集团财务有限 公司(以下简称"京能财务")《金融许可证》 《营业执照》等证件资 年 3 月 7 日取得《企业法人营业执照》 ，2006 年 5 月 16 日取得《金 融许可证》，正式开业。目前注册资本为人民币 50.00 亿元，其中北 京能源集团有限责任公司出资比例为 60%，北京京能清洁能源电力股 份有限公司出资比例为 20%，北京京能电力股份有限公司出资比例为 经营范围：吸收成员单位存款；办理成员单位贷款；办理成员单 位票据贴现；办理成员单位资金结算与收付；提供成员单位委托贷款、 债券承销、非融资性保函、财务顾问、信用鉴证及咨询代理业务；从 事同业拆借；办理成员单位票据承兑；从事固定收益类有价证券投资。 二、京能财务内部控制基本情况 （一）内控环境 京能财务治理架构健全、有效，严格按照《公司法》 ...

Core Viewpoint - In the context of a cooling equity financing environment, mergers and acquisitions (M&A) have become a primary path for investment banks to seek new revenue streams, leading to a mixed performance in the financial advisory business among listed brokers [1][2]. Group 1: Financial Advisory Business Performance - Among 25 listed brokers, 11 achieved positive growth in financial advisory business net income, with the highest increase reaching 53%, while 14 experienced declines, with the largest drop at 61% [1][2]. - The total net income from financial advisory services for these brokers was 3.351 billion yuan, a slight decrease of 2% compared to 2023, indicating significant divergence among individual brokers [2]. - The top eight brokers captured a significant share of the financial advisory market, with their combined net income accounting for 79% of the total, an increase of 4 percentage points from the previous year [4]. Group 2: M&A Market Trends - The number of major asset restructuring announcements in the A-share market reached 112 in 2024, a year-on-year increase of 9.8%, largely influenced by the "M&A Six Guidelines" policy [2]. - However, the actual completion scale of major asset restructuring transactions fell to 81.241 billion yuan, a decline of 76% year-on-year, reflecting the complexities of M&A transactions [2]. - Despite the high concentration in the financial advisory market, there is a notable income stratification among the top brokers, with significant gaps in revenue between the leading firms [4][5]. Group 3: Future Outlook - The M&A market is expected to remain active, with projections indicating a double-digit growth in transaction volume in 2025, driven by ongoing state-owned enterprise reforms and increasing overseas investment demands [7]. - Several brokers have emphasized their commitment to seizing M&A opportunities, particularly in supporting technology companies and emerging industries [8].