Notice of the 2025 Annual Shareholders' Meeting
Proposals for the 2025 Annual Board Report
Dear Shareholders:
In accordance with the requirements of the "Guidelines for the Content and Format of Information Disclosure by Companies Issuing Securities to the Public No. 2 - Content and Format of Annual Reports," "Guidelines for the Content and Format of Annual Reports for Securities Companies," and the "Securities Listing Rules of the Hong Kong Stock Exchange," as well as relevant provisions of the Articles of Association, we hereby report the "2025 Annual Board Report" as follows:
- Industry Situation of the Group
In 2025, China's capital market continued to stabilize and improve, demonstrating resilience and vitality despite multiple challenges. The market showed signs of recovery, with major indices rising significantly. The Wind All A Index, Shanghai Composite Index, Shenzhen Component Index, ChiNext Index, and Sci-Tech Innovation 50 Index increased by 27.65%, 18.41%, 29.87%, 49.57%, and 35.92%, respectively. The trading volume of Shanghai and Shenzhen stock markets reached 499 trillion yuan, a year-on-year increase of 70.39%. The bond market operated steadily, with moderate monetary policy easing and a decrease in funding rates. The issuance of bonds increased, with notable performance in government bonds and a recovery in financing for credit bonds. The China Bond - New Comprehensive Wealth Index rose by 0.65% in 2025.