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Everbright Securities Company Limited 光大證券股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 6178)

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Everbright Securities Company Limited 光大證券股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 6178) 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. Everbright Securities Company Limited 光大證券股份有限公司 (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 6178) ANNOUNCEMENT OF annual RESULTS FOR THE YEAR ENDED DECEMBER 31, 2018 The board of directors (the “Board”) of Everbright Securities Company Limited (the “Company”) hereby announces the audited annual results of the Company and its subsidiaries (the “Group”) for the year ended December 31, 2018. This announcement, containing the full text of the 2018 annual report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of annual results. The Group’s final results for the year ended December 31, 2018 have been reviewed by the audit committee of the Company. This results announcement will be published on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company’s website (www.ebscn.com). The Company’s 2018 annual report will be dispatched to the holders of H shares of the Company and published on the websites of The Stock Exchange of Hong Kong Limited and the Company in due course. By order of the Board Everbright Securities Company Limited Yan Jun Executive Director Shanghai, the PRC March 27, 2019 As at the date of this announcement, the Board of the Company comprises Mr. Xue Feng (Chairman, Executive Director), Mr. Yan Jun (Vice-chairman-elect, Executive Director), Mr. Ju Hao (Non- executive Director), Mr. Song Bingfang (Non-executive Director), Mr. Yin Lianchen (Non-executive Director), Mr. Chan Ming Kin (Non-executive Director), Mr. Xue Keqing (Non-executive Director), Mr. Meng Xiangkai (Non-executive Director), Mr. Xu Jingchang (Independent Non-executive Director), Mr. Xiong Yan (Independent Non-executive Director), Mr. Li Zheping (Independent Non- executive Director), Mr. Au Sing Kun (Independent Non-executive Director) and Mr. Wang Yong (Independent Non-executive Director). / Everbright Securities Company Limited / 2018 Annual Report CONTENTS SECTION I DEFINITIONS AND WARNING OF MATERIAL RISKS 3 SECTION II COMPANY PROFILE AND KEY FINANCIAL INDICATORS 8 SECTION III SUMMARY ON THE BUSINESS OF THE COMPANY 22 SECTION IV REPORT OF THE BOARD 27 SECTION V SIGNIFICANT EVENTS 88 SECTION VI CHANGES IN ORDINARY SHARES AND 112 PARTICULARS ABOUT SHAREHOLDERS SECTION VII PARTICULARS ABOUT DIRECTORS, SUPERVISORS, 124 SENIOR MANAGEMENT AND EMPLOYEE SECTION VIII CORPORATE GOVERNANCE 145 SECTION IX RELEVANT INFORMATION ON CORPORATE BONDS 191 SECTION X FINANCIAL REPORT [•••] APPENDIX A-1 / Everbright Securities Company Limited / IMPORTANT NOTICE I. The Board, the Supervisory Committee, Directors, Supervisors and senior management of the Company warrant that this annual report is true, accurate and complete and does not contain any false records, misleading statements or material omission and jointly and severally assume legal responsibility as to the contents herein. II. This report was reviewed and passed at the 13th meeting of the fifth session of the Board of the Company. The number of Directors that should attend the Board meeting was 13 and the number of Directors having voted at the Board meeting was 13. Mr. Xue Feng, the chairman and an executive Director of the Company, appointed Mr. Yan Jun, an executive Director, to attend the meeting on his behalf due to work reasons. None of the Directors or Supervisors has made any objection to this report. III. Unless otherwise specified, the financial data disclosed in this report are prepared in accordance with the International Financial Reporting Standards and have been audited by Ernst & Young, whom then issued a standard unqualified audit report thereon. Unless otherwise stated, the financial data set out in this report are denominated in RMB. IV. Zhou Jiannan, the legal representative of the Company and the person-in-charge of accounting affairs, and Mr. He Mannian, the head of accounting department, declare that they warrant the truthfulness, accuracy and completeness of the financial statements contained in this annual report. V. The profit distribution proposal or proposal on transfer of capital reserve into share capital reviewed by the Board for the Reporting Period: The Company's profit distribution proposal for 2018 that was considered and approved at the 13th meeting of the fifth session of the Board of the Company is set forth as follows: On the basis of a total share capital of 4,610,787,639 A Shares and H Shares in issue as of December 31, 2018, cash dividend of RMB1.00 per 10 shares (tax inclusive) will be distributed to all holders of A Shares and H Shares, with total cash dividend amounting to RMB461,078,763.90. The above distribution proposal will be proposed at the general meeting of the Company for consideration and is subject to the approval by the Company's shareholders at the general meeting before implementation. VI. Forward-looking statements included in this report, including future plans and development strategies, do not constitute substantial commitment of the Company to investors. Investors should be reminded of the investment risk. VII. There was no appropriation of funds on a non-recurring basis by the Company's controlling shareholders or their related parties during the Reporting Period. VIII. The Company has not provided any external guarantees in violation of the prescribed decision-making procedures during the Reporting Period. IX. The Company prepared this annual report in both English and Chinese versions. In the event of any discrepancies in interpretation between the English version and Chinese version, the Chinese version shall prevail. 2 2018 Annual Report SECTION I DEFINITIONS AND WARNING OF MATERIAL RISKS I Definitions In this annual report, unless the context otherwise requires, the following terms and expressions shall have the meanings set forth below: China or PRC the People’s Republic of China excluding, for the purpose of this annual report, Hong Kong, Macau and Taiwan CDR China Depository Receipt CMBN Commercial mortgage – backed notes Company, our Company or Everbright Securities Company Limited (光大證券股份有限公司) Everbright Securities Everbright Group China Everbright Group Ltd. (中國光大集團股份公司), the largest shareholder of the Company Everbright Limited China Everbright Limited (中國光大控股有限公司), the second largest shareholder of the Company Everbright Capital Everbright Capital Investment Co., Ltd. (光大資本投資有限公司), a wholly-owned subsidiary of the Company Everbright Fortune Everbright Fortune Investment Co., Ltd. (光大富尊投資有限公司), a wholly-owned subsidiary of the Company Everbright Futures Everbright Futures Co., Ltd. (光大期貨有限公司), a wholly-owned subsidiary of the Company Everbright Asset Management Shanghai Everbright Securities Asset Management Co., Ltd. (上海光 大證券資產管理有限公司), a wholly-owned subsidiary of the Company EBSHK Everbright Securities Financial Holdings Limited (光大證券金融控股有 限公司), a wholly-owned subsidiary of the Company Everbright Pramerica Everbright Pramerica Fund Management Co., Ltd. (光大保德信基金管 理有限公司), a controlling subsidiary of the Company 3 / Everbright Securities Company Limited / SECTION I DEFINITIONS AND WARNING OF MATERIAL RISKS Everbright Leasing Everbright Fortune International Leasing Co., Ltd. (光大幸福國際租賃 有限公司), a subsidiary of the Company Everbright Easecreate Everbright Easecreate Network Technology Co., Ltd. (光大易創網絡科 技股份有限公司) Everbright Yunfu Everbright Yunfu Internet Co., Ltd. (光大雲付互聯網股份有限公司) Everbright Development Everbright Development Investment Co., Ltd. (光大發展投資有限公 司), a wholly-owned subsidiary of the Company ESIL Everbright Securities (International) Limited (光大證券（國際）有限公 司), a wholly-owned subsidiary of EBSHK SHKFGL Sun Hung Kai Financial Group Limited (新鴻基金融集團有限公司), whose equity interest is held 70% and 30% by EBSHK and Sun Hung Kai & Co. Limited, respectively Everbright SHK Everbright Sun Hung Kai Company Limited (光大新鴻基有限公司), a wholly-owned subsidiary of SHKFGL Dacheng Fund Dacheng Fund Management Co., Ltd. (大成基金管理有限公司), a joint venture of the Company Reporting Period the year of 2018 (January 1, 2018 to December 31, 2018) Directors the directors of the Company Board, Board of Directors the board of Directors of the Company Supervisors the supervisors of the Company Supervisory Committee the supervisory committee of the Company 4 2018 Annual Report SECTION I DEFINITIONS AND WARNING OF MATERIAL RISKS NEEQ National Equities Exchange and Quotations (全國中小企業股份轉讓系 統) MOF Ministry of Finance of the PRC (中華人民共和國財政部) Huijin Central Huijin Investment Ltd. (中央匯金投資有限責任公司) PBOC People’s Bank of China, the central bank of the PRC REITs Real estate investment trusts Science and technology The science and technology innovation board to be launched by the innovation board Shanghai Stock Exchange SAFE State Administration of Foreign Exchange of the PRC (中華人民共和 國國家外匯管理局) PB Prime brokerage PPP Public-private Partnership FICC Fixed-income, Currencies and Commodities QFII Qualified foreign institutional investor securitization, ABS financing through issuance of tradable securities backed by specific asset portfolios or cash flows margin financing
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