DFZQ — Interim / Quarterly Report 2026

Apr 29, 2026

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock company incorporated in the People’s Republic of China with limited liability under the Chinese corporate name “ 東方證券股份有限公司 ” and carrying on business in Hong Kong as “ 東方證券 ” (in Chinese) and “DFZQ” (in English))

(Stock Code: 03958)

THE FIRST QUARTERLY REPORT FOR THE YEAR 2026

The board (the “ Board ”) of directors (the “ Directors ”) of 東方證券股份有限公司(the “ Company ”) hereby announces the unaudited results of the Company and its subsidiaries for the first quarter ended March 31, 2026, prepared in accordance with China Accounting Standards for Business Enterprises. This announcement is made pursuant to the Inside Information Provisions (as defined in The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Hong Kong Stock Exchange ”) (the “ Listing Rules ”)) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rules 13.09(2) and 13.10B of the Listing Rules.

This announcement contains the Chinese original version and English translation of “The First Quarterly Report for the Year 2026 of 東方證券股份有限公司” as published on the website of the Shanghai Stock Exchange, and is provided for your reference only. In case of discrepancy between the Chinese version and the English version, the Chinese version shall prevail.

By order of the Board of Directors ZHOU Lei Chairman

Shanghai, PRC April 29, 2026

As at the date of this announcement, the Board of Directors comprises Mr. ZHOU Lei, Mr. LU Weiming and Mr. LU Dayin as executive Directors; Mr. LIU Wei, Mr. YANG Bo, Mr. SHI Lei, Ms. LI Yun, Mr. XU Yongmiao, Mr. REN Zhixiang and Mr. SUN Weidong as non-executive Directors; and Mr. WU Hong, Mr. FENG Xingdong, Mr. LUO Xinyu, Mr. CHAN Hon and Mr. ZHU Kai as independent nonexecutive Directors.

1

東方證券股份有限公司

The First Quarterly Report for the Year 2026

2

CONTENTS

IMPORTANT NOTICE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	IMPORTANT NOTICE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4
I.	KEY FINANCIAL DATA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5
II.	SHAREHOLDERS INFORMATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	10
III.	OTHER REMINDERS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	11
IV.	QUARTERLY FINANCIAL STATEMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	12

3

IMPORTANT NOTICE

The Board of the Company and its Directors and senior management warrant that the information contained herein is true, accurate and complete and there are no false representations, misleading statements contained in or material omissions from this quarterly report, for which they will assume joint and several liabilities.

The person-in-charge of the Company, the accounting chief and person-in-charge of the accounting department (head of the accounting department), warrant the truthfulness, accuracy and completeness of the financial statements set out in this quarterly report.

Whether the first quarterly financial statements are audited

□ Yes ✓ No

4

I. KEY FINANCIAL DATA

(i) Key accounting data and financial indicators

Unit: Yuan Currency: RMB

				Increase/decrease
				in the range of
				changes in this
				reporting period
				over the same
				period of the
	This reporting	Same period of	the previous year	previous year (%)
Items	period	Before adjustment	After adjustment	After adjustment
Operating income	4,090,179,175.27	5,381,713,789.37	3,884,727,756.24	5.29
Total profit	2,006,057,583.39	1,750,608,677.63	1,750,608,677.63	14.59
Net profit attributable to the shareholders
of the Company	1,587,119,915.99	1,435,653,008.94	1,435,653,008.94	10.55
Net profit attributable to the shareholders
of the Company after deducting
non-recurring profit or loss	1,489,678,985.61	1,407,602,697.37	1,407,602,697.37	5.83
Net cash flows from operating activities	11,266,022,686.39	-4,738,016,790.52	-4,738,016,790.52	Not applicable
Basic earnings per share (RMB/share)	0.19	0.16	0.16	18.75
Diluted earnings per share (RMB/share)	Not applicable	Not applicable	Not applicable	Not applicable
Weighted average returns on net				Increase of 0.15
assets (%)	1.94	1.79	1.79	percentage point
				Increase/decrease
				in the range of
				changes recorded
				at the end of this
				reporting period as
				compared with the
				end of the previous
	At the end of this	At the end of the previous year		year (%)
	reporting period	Before adjustment	After adjustment	After adjustment
Total assets	516,475,099,499.17	486,875,986,848.20	486,875,986,848.20	6.08
Owner’s equity attributable to the
shareholders of the Company	84,822,825,107.70	82,685,656,693.40	82,685,656,693.40	2.58

Note: In July 2025, the Accounting Department of the Ministry of Finance issued the Q&A on the Implementation of Accounting Treatment for Standard Warehouse Receipt Transactions (標準倉單交易相關會計處理實施問答). In accordance with the Q&A, the Company has implemented the relevant provisions since January 1, 2025, and adjusted the financial data for the first quarter of 2025. Such adjustments have no material impact on the results of the Company’s balance sheet and income statement.

5

(ii) Net capital and risk control indicators of the parent company

	Unit: Yuan	Currency: RMB
	At the end of this	At the end of the
Item	reporting period	previous year
Net capital	59,103,368,836.04	53,549,615,958.16
Net assets	77,647,821,669.69	75,965,800,610.19
Risk coverage rate (%)	424.47	372.89
Capital gearing ratio (%)	16.18	16.12
Liquidity coverage ratio (%)	224.40	173.04
Net stable funding ratio (%)	143.34	136.24
Net capital/net assets (%)	76.12	70.49
Net capital/liabilities (%)	25.00	22.19
Net assets/liabilities (%)	32.84	31.49
Proprietary equity-based securities and
its derivatives/net capital (%)	36.24	36.80
Proprietary non-equity securities and
its derivatives/net capital (%)	310.42	355.44

6

(iii) Non-recurring profit or loss items and amounts

• ✓ Applicable □ Not Applicable

Unit: Yuan Currency: RMB

Non-recurring profit or loss items

Amounts for this reporting period Remarks

531,080.71 131,397,979.37 Financial support

Gains or losses from disposals of non-current 531,080.71 assets, including the write-off of provision for asset impairment Government grants recognized in current profit 131,397,979.37 or loss, but excluding those closely related to the Company’s normal operations, in line with national policies and regulations, received in accordance with specific standards and impacting the Company’s gain or loss on a continuous basis Other non-operating income and expenses except -2,007,819.57 items above Less: Effect of income tax 32,480,310.13 Total 97,440,930.38

Explanation on the reasons for the Company’s identification of the items not listed under the Explanatory Announcement No. 1 on Disclosure of Information by Companies Offering Securities to the Public – Non-Recurring Profit or Loss (《公開發行證券的公司信息披露解釋性公告第 1 號－非經常性損益》) as non-recurring items of profit or loss with significant amount, and the definition of non-recurring items of profit or loss listed in the Explanatory Announcement No. 1 on Disclosure of Information by Companies Offering Securities to the Public – Non-Recurring Profit or Loss (《公開發行證券的公司信息披露解釋性公告第 1 號－非經常性損益》) as recurring items of profit or loss.

□ Applicable ✓ Not Applicable

(iv) Changes in key accounting data and financial indicators and reasons for such changes

• Applicable ✓ Not Applicable

7

(v) Changes in major accounting statement items

Unit: Yuan Currency: RMB

	As at the	As at the
	end of this	end of the	Increase/
Balance sheet items	reporting period	previous year	Decrease (%)	Reasons
Clearing settlement funds	34,624,072,314.12	23,461,482,486.08	47.58	Increase in clearing
				settlement funds held on
				behalf of clients
Derivative financial assets	2,418,289,185.89	7,898,025,870.68	-69.38	Decrease in assets
				arising from derivative
				instruments
Receivables	3,381,951,872.63	2,472,312,092.48	36.79	Increase in liquidation
				receivables
Financial assets acquired under	3,649,608,090.18	1,338,404,400.64	172.68	Increase in the balance of
resale agreements				bond reverse repurchase
Debt investment	1,090,112,983.79	1,583,742,858.92	-31.17	Decrease in the scale of debt
				investments measured at
				amortized cost
Short-term financial bills	12,541,393,572.41	6,520,874,811.66	92.33	Increase in short-term bonds
payable				payable
Derivative financial liabilities	2,316,777,255.10	7,286,263,285.07	-68.20	Decrease in liabilities
				arising from derivative
				instruments
Funds payable to securities	0.00	14,000,000.00	-100.00	Decrease in funds payable to
issuers				stock issuers
Taxes payable	741,626,042.02	511,249,253.29	45.06	Mainly due to the increase in
				income tax payable

8

		Same period
	This reporting	of the	Increase/
Income statement items	period	previous year	Decrease (%)	Reasons
Net interest income	402,019,721.31	220,373,574.30	82.43	Decrease in interest expenses
				for business financing
Other income	146,921,961.87	13,197,860.25	1,013.23	Increase in government
				grants credited to other
				income
Gains from changes in fair value	-257,713,704.88	442,881,408.51	-158.19	Increase in losses from
				changes in fair value of
				financial assets
Foreign exchange gains	-80,535,007.63	-11,154,406.97	Not applicable	Effect of exchange rate
				changes
Other business income	30,988,425.04	15,906,224.48	94.82	Increase in revenue from
				information system
				services
Gains from asset disposal	584,730.49	-193,737.35	Not applicable	Increase in gains on disposal
				of real estate
Credit impairment loss	21,754,067.78	-71,629,672.27	Not applicable	Reversal of provision for
				impairment of stock-
				backed lending business
				in the same period of the
				previous year
Other business cost	81,187.32	160,252.99	-49.34	Decrease in depreciation
				expenses of investment
				properties
Non-operating income	186,480.95	37,056,652.12	-99.50	Decrease in government
				grants credited to non-
				operating income
Income tax expenses	419,038,017.49	315,012,109.12	33.02	Increase in profit before tax
Other comprehensive income	555,708,875.67	-179,739,637.62	Not applicable	Increase in fair value
after tax, net				changes of investments in
				other equity instruments

9

II. SHAREHOLDERS INFORMATION

• (i) Total number of ordinary shareholders and the number of preferred shareholders whose voting rights have been restored and the top ten shareholders’ shareholdings

Unit: Share

Total number of preference shareholders Total number of ordinary shareholders whose voting rights were restored at the Not at the end of the reporting period 183,876 end of the reporting period (if any) applicable

Top 10 shareholders’ shareholdings (excluding lending shares through refinancing business)

				Number of
	Nature of	Number of	Shareholding	restricted	Pledged,	marked
Name of shareholders	shareholders	shares held	ratio (%)	shares held	or frozen
					Status of	Number of
					shares	shares
Shenergy (Group) Company	State-owned	2,262,428,700	26.63	0	Nil	–
Limited	legal person
Hong Kong Securities Clearing	Foreign legal	1,026,934,644	12.09	0	Unknown	–
Company Nominees Limited	person
Shanghai Haiyan Investment	State-owned	423,186,126	4.98	0	Nil	–
Management Company Limited	legal person
Shanghai United Media Group	State-owned	309,561,060	3.64	0	Nil	–
	legal person
China Post Group Corporation	State-owned	228,791,342	2.69	0	Nil	–
	legal person
Zheneng Capital Holdings	State-owned	177,625,600	2.09	0	Nil	–
Limited	legal person
China Construction Bank	Others	153,392,046	1.81	0	Nil	–
Corporation – Guotai CSI All
Share Securities Company
Trading Index Securities
Investment Open-ended Fund
National Social Security Fund –	Others	148,298,898	1.75	0	Nil	–
Portfolio 118
Shanghai Jinqiao Export	State-owned	124,328,872	1.46	0	Nil	–
Processing Zone Development	legal person
Co., Ltd.
China Construction Bank	Others	104,333,227	1.23	0	Nil	–
Corporation – Huabao CSI
All Share Securities Company
Trading Index Securities
Investment Open-ended Fund

10

Shareholdings of the top ten shareholders of non-restricted shares (excluding lending shares through refinancing business)

Number

	Number
	of circulating
	non-restricted	Type and number
Name of shareholders	shares held		of shares
		Type of shares	Number of shares
Shenergy (Group) Company Limited	2,262,428,700	RMB ordinary	shares	2,262,428,700
Hong Kong Securities Clearing Company	1,026,934,644	Overseas listed	foreign	1,026,934,644
Nominees Limited		shares
Shanghai Haiyan Investment Management	423,186,126	RMB ordinary	shares	423,186,126
Company Limited
Shanghai United Media Group	309,561,060	RMB ordinary	shares	309,561,060
China Post Group Corporation	228,791,342	RMB ordinary	shares	228,791,342
Zheneng Capital Holdings Limited	177,625,600	RMB ordinary	shares	177,625,600
China Construction Bank Corporation – Guotai	153,392,046	RMB ordinary	shares	153,392,046
CSI All Share Securities Company Trading
Index Securities Investment Open-ended Fund
National Social Security Fund – Portfolio 118	148,298,898	RMB ordinary	shares	148,298,898
Shanghai Jinqiao Export Processing Zone	124,328,872	RMB ordinary	shares	124,328,872
Development Co., Ltd.
China Construction Bank Corporation – Huabao	104,333,227	RMB ordinary	shares	104,333,227
CSI All Share Securities Company Trading
Index Securities Investment Open-ended Fund
Related party relationship or parties acting in		Not applicable
concert among above shareholders
Description of the participation of the top ten		Not applicable
shareholders and the top ten non-restricted
shareholders in margin trading and short
selling business and refinancing business (if
any)

Share lending by shareholders interested in more than 5% of the shares, top ten shareholders and top ten non-restricted shareholders under refinancing business

□ Applicable ✓ Not Applicable

The top ten shareholders and top ten non-restricted shareholders changed from the previous period due to the lending/repayment of refinancing

□ Applicable ✓ Not Applicable

III. OTHER REMINDERS

Other important information on the Company’s operations during the reporting period that need to be brought to the attention of investors

✓ Applicable □ Not Applicable

11

On April 19, 2026, the Company issued an announcement on suspension of trading in relation to contemplation of material matters of the Company. The Company is currently contemplating a possible acquisition of 100% equity interests in Shanghai Securities Company Limited by way of issuance of A Shares and payment of cash consideration (the “ Transaction ”). In view of the uncertainties associated with the relevant matters of the Transaction, and in order to ensure fair information disclosure, protect the interests of investors, and avoid abnormal fluctuations in the Company’s share price, the Company’s A Shares have been suspended from trading upon the opening of the market on April 20, 2026, at the request of the Company and in accordance with the relevant regulations of the Shanghai Stock Exchange. The suspension is expected to last for no more than 10 trading days.

The Transaction is currently at a preliminary planning stage and remains subject to uncertainties. There is no assurance that the Transaction will proceed to implementation or be ultimately completed, as it may be affected by various factors, including changes in market conditions, regulatory review and approvals, and whether the parties are able to reach consensus on the relevant terms. The Company will comply with its information disclosure obligations in a timely manner based on the progress of the relevant matters. Investors are advised to pay attention to subsequent announcements and be aware of investment risks.

IV. QUARTERLY FINANCIAL STATEMENTS

(i) Type of audit opinion

□ Applicable ✓ Not Applicable

(ii) Financial statements

CONSOLIDATED BALANCE SHEET

March 31, 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items	March 31, 2026	December 31, 2025
Assets:
Cash and bank balances	136,671,253,068.92	111,953,849,015.33
Of which: Deposits held on behalf of customers	107,612,048,679.70	93,733,353,118.30
Clearing settlement funds	34,624,072,314.12	23,461,482,486.08
Of which: Settlement funds held on behalf of customers	25,999,787,481.26	13,131,520,202.69
Precious metal
Placements to banks and financial institutions
Advance to customers	40,756,103,045.67	39,042,998,274.05
Derivative financial assets	2,418,289,185.89	7,898,025,870.68
Deposits with exchanges and financial institutions	49,930,636,098.09	45,058,043,856.42
Receivables	3,381,951,872.63	2,472,312,092.48

12

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items

March 31, 2026 December 31, 2025

Receivables financing
Contract assets
Financial assets acquired under resale agreements	3,649,608,090.18	1,338,404,400.64
Assets held for sale
Financial investment:
Transactional financial assets	106,994,412,224.05	110,159,868,433.15
Debt investment	1,090,112,983.79	1,583,742,858.92
Other debt investment	89,181,666,913.43	95,979,972,027.20
Other equity instruments investment	32,194,915,521.70	32,567,835,522.37
Long-term equity investments	6,080,747,467.85	6,189,653,955.42
Investment properties	4,353,570.95	4,434,758.27
Fixed assets	1,717,423,992.64	1,705,930,683.09
Construction in progress	763,050,659.09	761,638,064.26
Right-of-use assets	902,319,118.08	961,071,675.58
Intangible assets	216,538,629.40	238,634,212.79
Including: Data resources	5,221,156.37	5,871,786.38
Goodwill	32,135,375.10	32,135,375.10
Deferred income tax assets	1,248,119,687.48	1,433,004,632.83
Other assets	4,617,389,680.11	4,032,948,653.54
Total assets	516,475,099,499.17	486,875,986,848.20
Liabilities:
Short-term borrowings	1,993,209,247.58	1,801,697,674.44
Short-term financial bills payable	12,541,393,572.41	6,520,874,811.66
Due to banks and other financial institutions	17,431,763,045.01	24,670,509,223.69
Transactional financial liabilities	31,877,993,958.66	27,852,339,525.29
Derivative financial liabilities	2,316,777,255.10	7,286,263,285.07
Financial assets sold under repurchase agreements	92,781,468,838.64	102,133,869,632.37
Account payable to brokerage clients	177,703,490,232.98	147,190,042,484.73
Funds payable to securities issuers		14,000,000.00
Accrued staff costs	3,317,949,047.27	3,266,700,942.66
Taxes payable	741,626,042.02	511,249,253.29
Payables	1,594,732,276.74	1,311,346,712.96
Contract liability	50,663,078.42	44,631,027.65
Liabilities held for sale
Estimated liabilities	35,035,478.31	35,035,478.31
Long-term borrowings
Bonds payable	79,323,095,534.63	72,450,028,789.60
Including: Preference shares
Perpetual bonds
Lease liabilities	889,136,883.73	948,379,015.20
Deferred income
Deferred income tax liabilities	78,521,988.64	84,168,377.34
Other liabilities	8,972,350,368.58	8,066,026,027.70
Total liabilities	431,649,206,848.72	404,187,162,261.96

13

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items				March 31, 2026	December 31, 2025
Equity of owners (or equity of shareholders):
Paid-in capital (or share capital)				8,496,645,292.00	8,496,645,292.00
Other equity instruments				3,000,000,000.00	3,000,000,000.00
Including: Preference shares
Perpetual bonds				3,000,000,000.00	3,000,000,000.00
Capital reserve			39,415,792,235.22		39,421,452,612.58
Less: Treasury stock				561,001,970.29	561,001,970.29
Other comprehensive income				2,711,264,295.19	2,232,531,868.21
Surplus reserve				5,094,809,697.30	5,094,809,697.30
General risk reserve			14,451,886,815.36		14,428,060,911.99
Undistributed profits			12,213,428,742.92		10,573,158,281.61
Total equity attributable to the owners (or shareholders)
of the parent company			84,822,825,107.70		82,685,656,693.40
Non-controlling interests				3,067,542.75	3,167,892.84
Total equity of owners (or equity of shareholders)			84,825,892,650.45		82,688,824,586.24
Total liabilities and equity of owners (or equity
of shareholders)			516,475,099,499.17		486,875,986,848.20
Person-in-charge	Accounting chief:			Person-in-charge of the
of the Company:				accounting department:
Zhou Lei		Shu Hong			You Wenjie

14

CONSOLIDATED INCOME STATEMENT

January – March 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
I.	Total operating income	4,090,179,175.27	3,884,727,756.24
	Net interest income	402,019,721.31	220,373,574.30
	Of which: Interest income	1,463,361,855.55	1,412,793,074.89
	Interest expense	1,061,342,134.24	1,192,419,500.59
	Net fee and commission income	1,790,668,593.64	1,459,635,988.35
	Of which: Net fee income from brokerage business	862,228,127.08	702,763,893.62
	Net fee income from investment banking
	business	348,729,240.59	319,842,878.20
	Net fee income from asset management
	business	428,100,833.12	301,475,626.78
	Investment gains (“-” indicating losses)	2,057,244,455.43	1,744,080,844.67
	Of which: Gains from investments in associates
	and joint ventures	197,682,221.65	98,984,921.70
	Income generated from the derecognition
	of financial assets measured at
	amortized cost (“-” indicating losses)
	Net open hedging gains (“-” indicating losses)
	Other income	146,921,961.87	13,197,860.25
	Gains from changes in fair value (“-” indicating losses)	-257,713,704.88	442,881,408.51
	Foreign exchange gains (“-” indicating losses)	-80,535,007.63	-11,154,406.97
	Other business income	30,988,425.04	15,906,224.48
	Gains from asset disposal (“-” indicating losses)	584,730.49	-193,737.35
II.	Total operating expenses	2,082,087,377.18	2,169,301,905.96
	Tax and surcharges	32,173,292.05	26,395,581.12
	Business and administrative expenses	2,028,078,830.03	2,214,375,744.12
	Credit impairment loss	21,754,067.78	-71,629,672.27
	Other asset impairment loss
	Other business cost	81,187.32	160,252.99

15

Unit: Yuan Currency: RMB Type of audit: Unaudited

			First quarter of	First quarter of
Items			2026	2025
III.	Operating profit (“-” indicating loss)		2,008,091,798.09	1,715,425,850.28
	Add: Non-operating income		186,480.95	37,056,652.12
	Less:	Non-operating expenses	2,220,695.65	1,873,824.77
IV.	Total	profit (“-” indicating total loss)	2,006,057,583.39	1,750,608,677.63
	Less:	Income tax expenses	419,038,017.49	315,012,109.12
V.	Net profit (“-” indicating net loss)		1,587,019,565.90	1,435,596,568.51
	(i)	Classified based on continuing operation
		1. Net profit from continuing operation
		(“-” indicating net loss)	1,587,019,565.90	1,435,596,568.51
		2. Net profit from discontinued operation
		(“-” indicating net loss)
	(ii)	Classified based on the nature of ownership
		1. Net profit attributable to shareholders of
		the parent company (“-” indicating net
		loss)	1,587,119,915.99	1,435,653,008.94
		2. Profit or loss attributable to non-
		controlling interests (“-” indicating net
		loss)	-100,350.09	-56,440.43
VI.	Other comprehensive income after tax, net		555,708,875.67	-179,739,637.62
	Other	comprehensive income attributable to the
	owners of the parent company after tax, net		555,708,875.67	-179,739,637.62
	(i)	Other comprehensive income that cannot be
		reclassified to profit or loss	758,742,442.96	144,512,116.33
		1. Re-measurement of amount of changes in
		defined benefit scheme
		2. Other comprehensive income that cannot
		be transferred to profit or loss under the
		equity method	-3,195,401.94	-4,173,542.07
		3. Changes in fair value of other equity
		instruments investment	761,937,844.90	148,685,658.40
		4. Changes in the fair value of the Company’s
		own credit risk

16

Unit: Yuan Currency: RMB Type of audit: Unaudited

			First quarter of	First	quarter of
Items			2026		2025
	(ii)	Other comprehensive income that will be
		reclassified to profit or loss	-203,033,567.29	-324,251,753.95
		1. Other comprehensive income that can
		be transferred to profit or loss under the
		equity method	-4,792,413.25	-1,893,308.92
		2. Changes in fair value of other debt
		investments	-132,768,157.90	-324,937,117.90
		3. The amount of financial assets
		reclassified into other comprehensive
		income
		4. Credit impairment provisions of other
		debt investment	-3,253,686.76	1,493,922.53
		5. Cash flow hedge reserve
		6. Exchange differences from translation
		of financial statements denominated in
		foreign currencies	-55,502,835.10	1,084,750.34
		7. Others	-6,716,474.28
	Other comprehensive income after tax attributable to
	non-controlling interests, net
VII.	Total comprehensive income		2,142,728,441.57	1,255,856,930.89
	Total comprehensive income attributable to owners
	of	the parent company	2,142,828,791.66	1,255,913,371.32
	Total comprehensive income attributable to
	non-controlling interests		-100,350.09		-56,440.43
VIII.	Earnings per share:
	(i)	Basic earnings per share (RMB/share)	0.19		0.16
	(ii)	Diluted earnings per share (RMB/share)	Not applicable	Not	applicable
		Person-in-charge Accounting chief:	Person-in-charge of the
		of the Company:	accounting department:
		Zhou Lei Shu Hong		You Wenjie

17

CONSOLIDATED STATEMENT OF CASH FLOWS

January – March 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
I.	Cash flows from operating activities:
	Net decrease in financial assets held for transaction
	purposes	5,085,900,798.46
	Net increase in transactional financial liabilities	3,944,725,436.34	2,477,893,534.42
	Cash received from sales of goods and provision of
	services
	Net increase in placements from other financial
	institutions
	Cash received for interests, fees and commissions	4,728,908,852.62	3,596,637,130.80
	Net increase in amount due to banks and other
	financial institutions
	Net increase in cash from repurchase business		5,148,069,524.17
	Net cash received from securities trading agency
	services	30,552,456,175.87
	Cash received relating to other operating activities	4,889,335,254.80	10,330,957,620.38
	Sub-total of cash inflows from operating activities	49,201,326,518.09	21,553,557,809.77
	Net increase in financial assets held for transaction
	purposes		5,501,754,026.11
	Net decrease in amount due to banks and other
	financial institutions	7,238,746,178.68	8,955,259,040.55
	Net decrease in cash from repurchase business	11,573,232,681.89
	Net increase in advances to customers	1,703,105,037.93	48,600,959.87
	Net cash paid for securities trading agency services		5,331,651,958.20
	Net cash paid for securities underwriting agency
	services	14,000,000.00	114,400,002.80
	Net increase in placements to banks and other
	financial institutions
	Net increase in cash from resale business
	Cash paid for interests, fees and commissions	2,395,826,567.35	1,733,126,525.45
	Cash paid to and paid for staff	1,343,712,250.48	1,358,509,125.13
	Taxes paid	516,026,462.01	264,267,891.80
	Cash paid relating to other operating activities	13,150,654,653.36	2,984,005,070.38
	Sub-total of cash outflows from operating activities	37,935,303,831.70	26,291,574,600.29
	Net cash flows from operating activities	11,266,022,686.39	-4,738,016,790.52

18

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
II.	Cash flows from investing activities:
	Cash received from disposal of investment	14,027,450.24	108,469,291.96
	Cash received from investment gains	1,129,738,897.11	970,205,503.11
	Net decrease in other debt investment	6,838,595,282.07	9,423,579,117.29
	Net decrease in other equity instruments investment	1,385,020,121.36
	Net decrease in debt investment	480,003,000.00
	Net cash received from disposal of fixed assets,
	intangible assets and other long-term assets	648,897.65
	Net cash received for disposal of subsidiaries and
	other operating units
	Cash received relating to other investing activities
	Sub-total of cash inflows from investing activities	9,848,033,648.43	10,502,253,912.36
	Cash paid for investments	43,688,910.90	2,476,819.54
	Net increase in other transactional financial assets	835,727,435.28	60,249,879.76
	Cash paid for purchase and construction of fixed
	assets, intangible assets and other long-term assets	89,704,370.10	97,221,518.82
	Net increase in other equity instruments investment		4,947,480,098.67
	Net cash paid for acquisition of subsidiaries and
	other operating units
	Cash paid for other investing activities
	Sub-total of cash outflows from investing activities	969,120,716.28	5,107,428,316.79
	Net cash flows from investing activities	8,878,912,932.15	5,394,825,595.57
III.	Cash flows from financing activities:
	Cash received from capital contributions
	Of which: Cash received by subsidiaries from
	investments from non-controlling shareholders
	Cash received from borrowings	8,905,360,580.48	1,113,879,548.22
	Cash received from issue of bonds	22,199,243,004.90	4,264,985,345.96
	Cash received relating to other financing activities
	Sub-total of cash inflows from financing activities	31,104,603,585.38	5,378,864,894.18
	Cash repayment of debts	18,218,169,761.66	6,730,799,419.01
	Cash paid for distribution of dividends, profits or
	interest payment	341,855,200.69	353,426,379.02
	Of which: Dividends and profits paid to
	non-controlling interests by subsidiaries
	Cash paid relating to other financing activities	89,280,388.17	94,140,552.96
	Sub-total of cash outflows from financing activities	18,649,305,350.52	7,178,366,350.99
	Net cash flows from financing activities	12,455,298,234.86	-1,799,501,456.81

19

Unit: Yuan Currency: RMB Type of audit: Unaudited

				First quarter of	First quarter of
Items				2026	2025
IV.	Effect of foreign exchange rate changes on		cash and
	cash equivalents			-138,312,140.20	46,965,438.60
V.	Net increase in cash and cash equivalents			32,461,921,713.20	-1,095,727,213.16
	Add: Balance of cash and cash equivalents at		the
	beginning of the period			97,707,596,080.59	74,506,442,721.61
VI.	Balance of cash and cash equivalents at the end of
	the period		130,169,517,793.79		73,410,715,508.45
	Person-in-charge	Accounting chief:		Person-in-charge of the
	of the Company:			accounting department:
	Zhou Lei		Shu Hong		You Wenjie

20

BALANCE SHEET OF THE PARENT COMPANY

March 31, 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items	March 31, 2026	December 31, 2025
Assets:
Cash and bank balances	56,287,841,613.60	44,594,667,989.57
Of which: Deposits held on behalf of customers	37,909,285,031.88	34,237,833,962.46
Clearing settlement funds	27,497,678,495.84	20,650,518,656.00
Of which: Settlement funds held on behalf of customers	18,919,085,267.76	10,935,337,948.17
Precious metal
Placements to banks and financial institutions
Advance to customers	39,678,259,955.14	37,988,175,133.50
Derivative financial assets	2,413,232,122.78	6,744,290,967.65
Deposits with exchanges and financial institutions	3,002,966,831.99	2,424,381,588.37
Receivables	1,444,800,493.62	1,097,823,954.51
Receivables financing
Contract assets
Financial assets acquired under resale agreements	3,460,856,844.38	1,127,143,071.78
Assets held for sale
Financial investment:
Transactional financial assets	88,959,620,070.16	92,166,785,083.88
Debt investment	1,090,112,983.79	1,583,742,858.92
Other debt investment	84,065,009,774.02	90,987,046,680.53
Other equity instruments investment	32,108,929,536.65	32,482,253,402.84
Long-term equity investments	24,879,001,964.36	23,962,103,818.46
Investment properties	4,353,570.95	4,434,758.27
Fixed assets	1,579,996,990.24	1,581,246,002.65
Construction in progress	18,601,701.62	17,810,811.48
Right-of-use assets	648,170,803.74	689,413,268.02
Intangible assets	146,338,385.24	160,490,662.57
Including: Data resources	5,171,218.76	5,814,358.13
Goodwill	18,947,605.48	18,947,605.48
Deferred income tax assets	982,406,256.42	1,195,057,289.28
Other assets	2,651,030,568.42	2,969,074,912.14
Total assets	370,938,156,568.44	362,445,408,515.90

21

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items

March 31, 2026 December 31, 2025

Liabilities:

Liabilities:
Short-term borrowings
Short-term financial bills payable		12,541,393,572.41	6,520,874,811.66
Due to banks and other financial institutions		17,431,763,045.01	24,670,509,223.69
Transactional financial liabilities		31,164,682,656.35	27,274,979,683.99
Derivative financial liabilities		1,974,381,394.91	6,117,740,922.66
Financial assets sold under repurchase agreements		88,013,038,028.95	97,926,940,381.46
Account payable to brokerage clients		56,873,111,082.46	45,194,757,659.37
Funds payable to securities issuers			14,000,000.00
Accrued staff costs		2,474,498,054.19	2,433,503,728.87
Taxes payable		555,767,806.62	449,239,777.53
Payables		241,312,204.16	138,027,779.75
Contract liability		40,498,245.82	39,089,755.24
Liabilities held for sale
Estimated liabilities		35,035,478.31	35,035,478.31
Long-term borrowings
Bonds payable		77,054,402,475.26	70,346,679,275.88
Including: Preference shares
Perpetual bonds
Lease liabilities		636,263,988.24	678,931,640.77
Deferred income
Deferred income tax liabilities
Other liabilities		4,254,186,866.06	4,639,297,786.53
Total liabilities	293,290,334,898.75		286,479,607,905.71
Equity of owners (or equity of shareholders):
Paid-in capital (or share capital)		8,496,645,292.00	8,496,645,292.00
Other equity instruments		3,000,000,000.00	3,000,000,000.00
Including: Preference shares
Perpetual bonds		3,000,000,000.00	3,000,000,000.00
Capital reserve		39,223,996,668.65	39,229,657,046.01
Less: Treasury stock		561,001,970.29	561,001,970.29
Other comprehensive income		2,783,329,113.96	2,154,562,247.26
Surplus reserve		5,090,509,497.30	5,090,509,497.30
General risk reserve		10,851,238,524.66	10,851,188,525.21
Undistributed profits		8,763,104,543.41	7,704,239,972.70
Total equity of owners (or equity of shareholders)		77,647,821,669.69	75,965,800,610.19
Total liabilities and equity of owners (or equity of
shareholders)	370,938,156,568.44		362,445,408,515.90
Person-in-charge	Accounting chief:	Person-in-charge of the
of the Company:		accounting department:
Zhou Lei	Shu Hong		You Wenjie

22

INCOME STATEMENT OF THE PARENT COMPANY

January – March 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
I.	Total operating income	2,526,968,057.08	3,311,403,134.77
	Net interest income	223,616,686.70	105,734,049.59
	Of which: Interest income	1,205,307,301.37	1,202,662,762.35
	Interest expense	981,690,614.67	1,096,928,712.76
	Net fee and commission income	1,040,437,058.44	831,489,332.93
	Of which: Net fee income from brokerage
	business	617,933,868.92	476,120,765.83
	Net fee income from investment
	banking business	342,095,851.75	298,791,063.06
	Net fee income from asset
	management business
	Investment gains (“-” indicating losses)	1,234,810,155.64	2,005,389,144.66
	Of which: Gains from investments in
	associates and joint ventures	87,656,338.00	87,088,717.88
	Income generated from the
	derecognition of financial assets
	measured at amortized cost
	(“-” indicating losses)
	Net open hedging gains (“-” indicating losses)
	Other income	105,036,250.68	9,192,945.51
	Gains from changes in fair value (“-” indicating
	losses)	-13,558,299.42	371,265,392.13
	Foreign exchange gains (“-” indicating losses)	-74,578,829.28	-17,453,214.67
	Other business income	10,621,012.68	5,979,221.97
	Gains from asset disposal (“-” indicating losses)	584,021.64	-193,737.35
II.	Total operating expenses	1,340,243,403.09	1,653,160,937.96
	Tax and surcharges	27,130,688.35	22,882,374.44
	Business and administrative expenses	1,296,145,172.87	1,701,830,347.67
	Credit impairment loss	16,886,354.55	-71,712,037.14
	Other asset impairment loss
	Other business cost	81,187.32	160,252.99

23

Unit: Yuan Currency: RMB Type of audit: Unaudited

			First quarter of	First quarter of
Items			2026	2025
III.	Operating profit (“-” indicating loss)		1,186,724,653.99	1,658,242,196.81
	Add:	Non-operating income	132,095.24	375,904.62
	Less:	Non-operating expenses	1,038,272.06	1,570,532.40
IV.	Total	profit (“-” indicating total loss)	1,185,818,477.17	1,657,047,569.03
	Less:	Income tax expenses	203,880,355.70	200,035,675.62
V.	Net profit (“-” indicating net loss)		981,938,121.47	1,457,011,893.41
	(i)	Net profit from continuing operation (“-”
		indicating net loss)	981,938,121.47	1,457,011,893.41
	(ii)	Net profit from discontinued operation (“-”
		indicating net loss)
VI.	Other comprehensive income after tax, net		705,743,315.39	-223,324,189.51
	(i)	Other comprehensive income that cannot be
		reclassified to profit or loss	758,772,191.37	148,565,795.19
		1. Re-measurement of amount of changes
		in defined benefit scheme
		2. Other comprehensive income that
		cannot be transferred to profit or loss
		under the equity method
		3. Changes in fair value of other equity
		instruments investment	758,772,191.37	148,565,795.19
		4. Changes in the fair value of the
		Company’s own credit risk
	(ii)	Other comprehensive income that will be
		reclassified to profit or loss	-53,028,875.98	-371,889,984.70
		1. Other comprehensive income that can
		be transferred to profit or loss under the
		equity method	-4,075,303.01	-623,246.97
		2. Changes in fair value of other debt
		investments	-38,983,411.93	-372,771,301.09
		3. The amount of financial assets
		reclassified into other comprehensive
		income
		4. Credit impairment provisions of other
		debt investment	-3,253,686.76	1,504,563.36
		5. Cash flow hedge reserve
		6. Exchange differences from translation
		of financial statements denominated in
		foreign currencies
		7. Others	-6,716,474.28

24

Unit: Yuan Currency: RMB Type of audit: Unaudited

Items

VII. Total comprehensive income

First quarter of First quarter of 2026 2025 1,687,681,436.86 1,233,687,703.90

VIII. Earnings per share:

• (i) Basic earnings per share (RMB/share)

• (ii) Diluted earnings per share (RMB/share)

Person-in-charge Accounting chief: Person-in-charge of the of the Company: accounting department: Zhou Lei Shu Hong You Wenjie

25

STATEMENT OF CASH FLOWS OF THE PARENT COMPANY

January – March 2026

Prepared by: 東方證券股份有限公司

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
I.	Cash flows from operating activities:
	Cash received from sales of goods and provision
	of services
	Net increase in placements from other financial
	institutions
	Net decrease in financial assets held for transaction
	purposes	5,089,029,081.94
	Net increase in transactional financial liabilities	3,766,410,311.03	2,596,513,755.47
	Cash received for interests, fees and commissions	1,846,382,029.57	1,572,547,922.11
	Net increase in amount due to banks and other
	financial institutions
	Net increase in cash from repurchase business		4,634,230,652.28
	Net decrease in advances to customers		94,247,337.88
	Net cash received from securities trading
	agency services	11,678,353,423.09	24,369,016.79
	Cash received relating to other operating activities	721,699,368.57	1,686,972,443.51
	Sub-total of cash inflows from operating activities	23,101,874,214.20	10,608,881,128.04
	Net increase in financial assets held for transaction
	purposes		4,583,340,893.60
	Net decrease in amount due to banks and other
	financial institutions	7,238,746,178.68	8,955,259,040.55
	Net increase in placements to banks and other
	financial institutions
	Net decrease in cash from repurchase business	12,242,208,333.95
	Net increase in advances to customers	1,656,150,931.82
	Net cash paid for securities underwriting
	agency services	14,000,000.00	114,400,002.80
	Cash paid for interests, fees and commissions	804,772,485.82	860,997,520.08
	Cash paid to and paid for staff	951,916,444.56	913,375,144.76
	Taxes paid	390,932,813.17	167,203,451.87
	Cash paid relating to other operating activities	1,590,115,977.91	1,907,272,856.51
	Sub-total of cash outflows from operating activities	24,888,843,165.91	17,501,848,910.17
	Net cash flows from operating activities	-1,786,968,951.71	-6,892,967,782.13

26

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
II.	Cash flows from investing activities:
	Cash received from disposal of investment
	Cash received from investment gains	1,148,243,643.11	1,287,368,181.41
	Net cash received from disposal of fixed assets,
	intangible assets and other long-term assets	649,736.49
	Net decrease in other transactional financial assets		526,753,943.68
	Net decrease in other debt investment	7,169,511,049.52	9,768,877,098.30
	Net decrease in debt investment	480,003,000.00
	Net decrease in other equity instruments investment	1,385,020,121.36
	Cash received relating to other investing activities
	Sub-total of cash inflows from investing activities	10,183,427,550.48	11,582,999,223.39
	Cash paid for investments	1,000,000,000.00
	Cash paid for purchase and construction of fixed
	assets, intangible assets and other long-term assets	49,548,666.43	80,226,761.23
	Net increase in other transactional financial assets	806,996,956.28
	Net increase in other equity instruments investment		4,925,819,978.08
	Cash paid for other investing activities
	Sub-total of cash outflows from investing activities	1,856,545,622.71	5,006,046,739.31
	Net cash flows from investing activities	8,326,881,927.77	6,576,952,484.08

27

Unit: Yuan Currency: RMB Type of audit: Unaudited

		First quarter of	First quarter of
Items		2026	2025
III.	Cash flows from financing activities:
	Cash received from accepting investments
	Cash received from borrowings
	Cash received from issue of bonds	21,984,397,313.93	4,256,860,242.13
	Cash received relating to other financing activities
	Sub-total of cash inflows from financing activities	21,984,397,313.93	4,256,860,242.13
	Cash repayment of debts	9,525,175,551.55	5,619,581,760.30
	Cash paid for distribution of dividends, profits or
	interest payment	305,561,305.63	333,711,401.61
	Cash paid relating to other financing activities	64,411,968.60	67,473,229.03
	Sub-total of cash outflows from financing activities	9,895,148,825.78	6,020,766,390.94
	Net cash flows from financing activities	12,089,248,488.15	-1,763,906,148.81
IV.	Effect of foreign exchange rate changes on cash and
	cash equivalents	-74,578,829.28	6,918,796.08
V.	Net increase in cash and cash equivalents	18,554,582,634.93	-2,073,002,650.78
	Add: Balance of cash and cash equivalents at the
	beginning of the period	65,165,524,488.34	53,905,381,270.22
VI.	Balance of cash and cash equivalents at the end of the
	period	83,720,107,123.27	51,832,378,619.44
	Person-in-charge Accounting chief:	Person-in-charge of the
	of the Company:	accounting department:
	Zhou Lei Shu Hong		You Wenjie

(iii) Adjustment made to the financial statements of the beginning of the year due to implementing the new accounting standards and interpretation of standards for the first time since 2026

□ Applicable ✓ Not Applicable

28