[HK]广发证券(01776):海外监管公告 - 广发证券股份有限公司2026年面向专业投资者公开发行次级债券（第二期）信用评级报告
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） 海外監管公告 本公告乃根據香聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，廣發証券股份有限公司（「本公司」）在深圳證券交易所網站( http://www.szse.cn )刊發的《廣發証券股份有限公司2026年面向專業投資公開發行次級債券（第二期）信用評級報告》。茲載列如下，僅供參閱。 承董事會命 廣發証券股份有限公司 林傳輝 董事長 中國，廣州 2026年6月1日 於本公告日期，本公司董事會成員括執行董事林傳輝先生、秦力先生、孫曉燕女士及肖雪生先生；非執行董事李秀林先生、尚書志先生及郭敬誼先生；獨立非執行董事梁碩玲女士、黎文靖先生、張闖先生及王大樹先生。 ??? z ?????????????????????о??????????н????????????????? ????↓?????? z ???????????????↓?????????????????????????????????? ?????????????????????????????????????????????????? ??н?????? z ??????亩?????????????????????????????????????↓???? z ?????????????????????????????????????????????????? ??????????й???亴???? z ???????????????????????????????????н?????????????? ??????????????????????н???????????????????????? z ?????н??????????????????????????????н????????????? ????????????й?????????????? z ?????????????亩????????亩??????????????н???????????? ??????????????????????????→???? z ?????????????????н?????????????ъ?????????????????? ???????????н??????? ?????? z ????????????????????????????????????????? z ????????????????????仾????????????????????????≤???? ?亩???????????????????????????????????????亩???????? ????亩?????????????????????????????????????????? ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? 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EBITDA????к????? EBITDA?????????????2025??? EBITDA????????к???к?????/EBITDA?к???л????????л?? 2025????????????????????????????????????????? 2026?1-3?????????????↓????????????????仍?????? ???????ъ??? ?11???????????? ?? 2023 2024 2025 2026.3/2026.1-3 ?????(%) 74.43 73.76 78.28 78.70 ???????????? (89.19) 99.71 (277.81) 189.23 EBITDA???? 195.04 225.34 286.35 -- EBITDA??????(X) 1.98 2.33 2.99 -- ???/EBITDA(X) 17.03 16.22 15.65 -- ??EBITDA??????????????? ????????????????? ???亯 ???????????2025???????????????2,373.96?????????? 仍????24.34%?к?????????????????????ъ?????????? ????????ъ?????? ?????????2025?????н??????????????????????? ??????亩??????2024?12?17??????????????????????? ???????????ь???????????2024?12?13???????????? ??????????????????????? 12???????????仍???? 950,202.89??2024?12?20???????????????л??ā????ā????? ?????????????????????????????????????????? ??????????????????????????????儈??????????? ????????仈???????ǒ2020ǔ5??????????50??к??50??? ?????????????????????2024?12?31??????????ь???????????????????1,135???????о??????????????? ?94???????仍????90.48???????????1,041???????仍??? ?35.98???????????к???????亩????????0.27?????? ????????2023?4?17?????????????????????0382023005 ?????????????????????л??ā????ā?2018????????? ??ъ??????????????????????????????????????? ?????????????????????2023?7?17?????????????? ????????????ǒ2023ǔ40????????????????????↓???? ??????ъ???94.34з?????94.34з??????????????783.02з?? ???50з????2023?9?22????????????к??亩??????????? 2025? 8????????????????????????????????????? ??????[2025]307????????????????????2018????????? ??ъ???????????????????????? ???亯 ????? ???????θ???????θ??ж???????????????????? ?????????????2026?3????????????????仍?424.75??? ?к???? 17.25%???????????????仍? 5.08%??к??к? 0.23??? ??????仾?????к????2026?3?????????????っ??????к ????к??儈?????? ????????????????????????????????ъ?????仍??? ?2025??????????????仍???8,000??????????????1,500? ????????????? ?к?????????????а?????????????????????ъ???? ?????????????а?????? 4 ?????28???????????к?????ь??????????????????????ъ ?????????????仇????侞????????????????伏??伏??? ?????亶??????ā??+??+???ā??傡????????? 2025????? ?ь????344.18?????????308.87???2025????ъ??23.35????? ?23.61??? ?????1991?3????????????????????к??1993?6????? ????1996?8??к????????к??????ъ??????????????? ???????????????????ā???????ъо????ā??傡?????? ???ъ??っ??????2025???????????490.71?????????324.77 ???2025????ъ??99.02??????3.30???2025?3?1????????? ????????????????ь????????????????????ь???? ?????????????並?儈?????????????????????????? ??????????2025?3?4?????????????????????????? ?????????????????????2025?2?28?????а????ь???? ?????????????????????????????????????????? ?????????н?????????3%?A???????2025?11?4????? ???уъ???????????????????а????????ā25??E1ā??? ???ā117242ā?????????18????????3?????????24.58?/?? ????????????????????┑6?????а?????????????? ?????а???→?2025?12?29????????уъ?????????????? ??????????????ā25??E2ā??????ā117247ā?????????10 ????????3?????????24.58?/???????????????????? ??┑6?????а???????????????????а???→?2025????? ?????????????????130,000,000??75,000,000?????A?????? ??о????????????????????????????????ˉ????? ?ˉ25??E1???????у??????ˉ??????ˉ25??E2???????у ??2026?4?28????????????5%?к?ь?????????????уъ? ??????????????????а?????????????2026?5?6??2028 ?11?3???????ā25??E1ā??????????????????????2026???ъ????????????????????????????????????ㄎ? ????2025???????????365.95?????????192.74???2025???? ъ??46.12??????18.76??? ???ь???ь?????????? 26??а?????й??ь???н?俉???? ??????っ?????????????????????っ????????????? ?????????????????????????????????????????? ???A???????????у??????っ?????????????й??ь?? ??????????????????????????????????ь??????学 ???????????????????儈??????????а???? ????? ?к???????????????????????????AAA??????っ???? ā?????????? 2026???уъ????????????????ā?????? AAA? ??жφ?????????????????????δ??2026?3??ε ?ь?? ????(%) 俉?????????????? 24.53 ???ь?ъ???????? 16.01 ?????????? 13.36 ?????ъ???????? 8.78 俉????????? 2.86 ???????????? 2.50 ????ˉ??????ˉ25??E1???????у? 1.66 ????????????ˉ???????????????????????? 1.11 ????ˉ??????ˉ25??E2???????у? 0.96 ??????аай?? 0.84 ?? 72.61 ????2026?3??????ь?ъ??????????а?????????????????а??????????ъ????? ?????а????????A??H?????????????19.55%?17.47%?10.27%?????????? ???φ?????????????????????δ????ε ?????????з?? 2023 2024 2025 2026.3/2026.1-3 ?????????? 153,325.60 204,583.87 245,605.42 303,389.92 ??????????????? 28,839.22 39,630.67 36,225.46 42,474.90 ???????? 19,720.90 20,565.24 27,414.10 18,836.44 ??????? 216,074.35 242,824.24 362,399.52 449,332.98 ???? 129.71 35.65 1.43 1.40 ?????? 139,295.12 104,334.35 90,423.73 74,106.73 ???????? 5,696.95 22,317.78 30,509.88 38,794.92 ?????? 9,225.27 11,006.92 11,985.39 11,921.39 ???? 91,107.90 108,939.93 144,023.51 153,404.76 ??? 682,181.68 758,745.11 975,484.25 1,122,227.20 ??????? 132,010.53 175,339.65 227,638.76 285,350.15????ъ???? 566.32 778.25 884.10 164.81 ????ъ???? 7,355.86 6,464.12 7,157.38 2,460.98 ????ъ???? 371.79 421.11 546.01 -- ????? 3,136.02 2,348.45 2,224.57 445.85 ????????????? 4,289.64 8,520.04 13,768.74 5,607.22 ?ъ?? 23,299.53 26,422.06 35,492.78 11,681.98 ъ????? (13,885.24) (14,791.69) (16,456.28) (5,365.95) ?ъ?? 8,794.80 11,467.79 18,793.26 6,243.70 ??? 7,862.92 10,544.67 14,952.11 5,112.19 ?????仍 8,464.82 13,040.39 14,488.45 5,109.95 EBITDA 19,504.17 22,534.44 28,635.23 -- ???? 2023 2024 2025 2026.3/2026.1-3 ????????? ???????(%) 1.53 1.86 2.25 -- ???????(%) 5.92 7.18 9.48 -- ?ъ???(%) 59.59 55.98 46.37 45.93 ???????????????? 仾????(%) 233.36 276.22 231.61 244.32 ?????(%) 12.03 13.29 11.32 11.50 ??????(%) 222.43 183.17 185.72 202.34 ?っ????(%) 129.57 153.18 145.32 152.70 ???/???(%) 77.48 72.88 71.60 74.39 ???/??(%) 24.99 25.06 20.00 20.11 ???/??(%) 32.25 34.38 27.93 27.03 ????学???????/???(%) 31.10 31.55 44.13 44.49 ?????学???????/???(%) 294.25 296.51 364.24 357.31 ????? ?????(%) 74.43 73.76 78.28 78.70 EBITDA??????(X) 1.98 2.33 2.99 -- ???/EBITDA(X) 17.03 16.22 15.65 -- ??[1]2026?1-3?????ъ??????????ъ?????[2]???????????????о??????????????пφ??????????? ?? ???? 仾???? ???/?亩仾??????? ????? ?????/??????仍 ????? ???? ?????? ???????/??30??????? ?っ???? ??っ???/??っ??? ?????ъ?? ?ъ??-??ъ??? ??????? ???/[(??????-??????????+к?????-к?????????)/2] ??????? ???/[(????????+к???????)/2] ?ъ??? ъ?????/?ъ?? ???? ????-???????ъ????-???????????????+??????? ????? ?+??????????+????????+??????????????+??? ????????????φ?????????? ?????? ?? ?BCA?????? aaa ????????л?????????????????н?н???????????仾???? aa ????????л????????????????н?????????????仾???? a ????????л??????????????????н???????????仾???? bbb ????????л????????????а???н????????????仾?а?? bb ????????л????????????????н????????????儈??仾?? b ????????л????????????????????????????仾??儈? ccc ????????л???????????????????????????仾??儈? cc ????????л???????н??????????????? c ????????л?????н?????? ??[1]?aaa??ccc???л?????а???????āˇāāˉā??????????儈???????? [2]??????????????????仾????仾???н??????????л????????????????????? ?ь??????????????????????ъ????????? [3]????????????л????????????????āgāоāgrā??????[2]???????、?学?????????????????л?āstiā????? ????亩???? ?? AAA ??????????н?н???????????仾???? AA ?????????н?????????????仾???? A ???????????н???????????仾???? BBB ?????а???н????????????仾?а?? BB ?????????н????????????儈??仾?? B ?????????????????????仾??儈? CCC ????????????????????仾??儈? CC ??н???????? C н?????? ???AAA??CCC???л?????а???????ā+ā?ā-ā??????????儈???????????亩???? ?? A-1 ??儈??????????仾????????儈? A-2 ?????????????儈? A-3 ??????а???????н????????? B ???????????儈??仾?? C ???????????仾??儈? D н???????? ???а??????н????? ???·??·щ? ??????ь?????????ㄩ???2???SOHO5?? ???100010 ???86?10?66428877 ???86?10?66426100 ???www.ccxi.com.cn Address:Building5,GalaxySOHO,No.2NanzhuganLane,ChaoyangmenneiAvenue,DongchengDistrict,Beijing PostalCode 100010 Tel 86?10?66428877 Fax 86?10?66426100 Web:www.ccxi.com.cn OB电竞体育APP
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