2025 is a crucial year for China's sustainable development information disclosure standards to move towards "deepening application". The sustainable development reporting guidelines of the Shanghai, Shenzhen, and Beijing stock exchanges have entered their first year of mandatory application, and the new climate disclosure regulations of the Hong Kong Stock Exchange's "Environmental, Social, and Governance Reporting Code" have officially come into effect. After the release of the "Enterprise Sustainable Disclosure Standards - Basic Standards (Trial)", nine ministries including the Chinese Ministry of Finance have added the "Enterprise Sustainable Disclosure Standards No. 1- Climate (Trial)" and "Application Guidelines for the" Enterprise Sustainable Disclosure Standards - Basic Standards (Trial) ". The sustainable practices and information disclosure of listed companies are facing their first "big test" under multiple regulatory frameworks.

Dongfang Securities recently officially released the "2025 Sustainable Development Report", which presents many highlights in responding to ESG disclosure requirements with high standards and comprehensively presenting sustainable management achievements, providing a demonstration sample of high-quality sustainable development information disclosure for the market.

High standard compliance: debut of the first "answer sheet"

The "2025 Sustainable Development Report" (referred to as the "Report") continues the professional and rigorous style of previous years, with detailed and rich content. With solid information disclosure, it comprehensively showcases the latest practical achievements of Dongfang Securities in serving the "five major articles" of finance, supporting the "dual carbon" goal, optimizing customer service, promoting digital transformation, and assisting rural revitalization. It also systematically sorts out the practical process of Dongfang Securities' sustainable development from top-level design to daily operation, and from strategic concept implementation to specific actions during the "14th Five Year Plan" sustainable development planning period.

As the first response submitted by Orient Securities after the new regulations on sustainable information disclosure officially came into effect on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, the "Report" strictly follows the regulatory requirements of the two exchanges, focuses on implementing the two key points of the A-share "Guidelines" - "dual importance analysis" and "four core content disclosure", clarifies the process of disclosing the importance of issues, establishes a detailed list of issues, and carries out specific practices such as "impact importance assessment" and "financial importance assessment"; Applying the "Governance Strategy Impact, Risk and Opportunity Management Indicators and Objectives" disclosure framework for financial importance issues, comprehensively elaborating on the management practices of enterprises on key issues related to their business models and financial performance, and effectively enhancing the value of sustainable development reports for stakeholder decision-making.

At the same time, in response to the new climate regulations of the Hong Kong Stock Exchange, Orient Securities has comprehensively benchmarked its disclosure requirements. In the "Anchoring Targets and Responding to Climate Change" section, it has established a detailed process for managing climate related risks and opportunities, conducted identification and analysis of climate related risks and opportunities, and implemented specific progress in implementing climate related management indicators and goals.It is not difficult to see from the disclosure of the report that Orient Securities has established a solid climate related management system, integrated climate related risk management into a comprehensive risk management system, and implemented a series of management measures in 2025, including further optimizing the assessment and ranking of climate related risks and opportunities, forming a three-dimensional matrix of climate related risks and opportunities, conducting climate related adaptation analysis using tools such as scenario analysis, and sorting out climate key actions and transformation plans based on the latest practices. Another noteworthy highlight is that in the index table of the report, Oriental Securities System displays its response to the new climate disclosure regulations of the Hong Kong Stock Exchange, and strictly follows the principle of "no disclosure, explain", clearly listing the specific exemption principles and next action plans for the application of the terms in the index table, and responding to the mandatory requirements of the Hong Kong Stock Exchange's climate disclosure regulations with high standards and high quality.

Successful conclusion: Sustainable development goals achieved

With the deepening of the concept of sustainable development and the rapid development of regulatory environment, the disclosure of sustainable development information by listed companies is accelerating its transformation from "compliance and standardization" to "value creation". As early as 2021, Dongfang Securities made a forward-looking layout for its sustainable development management and practice, releasing the first batch of systematic sustainable development plans in the industry, involving three dimensions of the company's own operation, business development, and brand culture construction. It clarified the goals in governance, economy, environment, and society, formulated a roadmap for the implementation of the plan, and clarified the main tasks for each stage of the planning layout period (2021-2022), comprehensive promotion period (2023-2024), and target sprint period (2025), providing a clear direction for its sustainable development work in 2021-2025.

2025 is the final year of Dongfang Securities' sustainable development plan. The report comprehensively summarizes and discloses the progress of planning implementation in the form of a special topic. The report shows that over the past five years, Orient Securities has overcome core difficulties year by year, promoting sustainable development from concept to concrete action. Through investment and financing business, it has guided over 600 billion yuan of funds into the field of sustainable development, with an average annual growth rate of sustainable investment and financing exceeding 10%?We have invested 143 million yuan in public welfare funds in the social sector, with a volunteer service coverage rate of 34.52% among employees. We aim to achieve carbon neutrality at the operational level by 2025 and successfully achieve various sustainable development planning goals. The successful conclusion of Dongfang Securities' "14th Five Year Plan" for sustainable development vividly illustrates the importance of a systematic management system and measurable management goals in leading enterprise actions and improving management efficiency. It also provides a reference and model for sustainable development management and practice in the securities industry.

Based on our profession: providing comprehensive services to a strong financial country

In February 2025, the China Securities Regulatory Commission issued the "Implementation Opinions on Doing a Good Job in the Capital Market's Financial 'Five Major Articles'", and in March, the General Office of the State Council issued the "Guiding Opinions on Doing a Good Job in the Financial' Five Major Articles'", clarifying departmental requirements for financial institutions to implement the "Five Major Articles".

The "Report" system presents the highlights of Dongfang Securities' efforts to serve the national strategy, fully implement the development path of Chinese characteristic finance, continuously promote the aggregation of factor resources to major strategies, key areas, and weak links, as well as the practical achievements of applying financial technology to empower high-quality development. By 2025, Dongfang Securities will serve 14 enterprises that meet national strategies to complete equity financing, with a total fundraising scale of 18.431 billion yuan and a cumulative underwriting scale of 10.821 billion yuan; Lead underwriting of 74 issues of technology innovation corporate bonds, with a total lead underwriting scale of 21.774 billion yuan; Completed equity financing for 14 private enterprises, with a total fundraising scale of 8.659 billion yuan. Led the underwriting of 2 phases of corporate bonds supporting small and medium-sized enterprises, with a total underwriting scale of 600 million yuan; Lead underwriting of 7 green corporate bonds with a total lead underwriting scale of 1.572 billion yuan, and 11 green financial bonds with a total lead underwriting scale of 10.817 billion yuan; Through market making business, a total trading volume of 240.224 billion yuan was provided for green bonds and technology innovation bonds. As of the end of 2025, Dongfang Securities has introduced 51 personal pension fund managers, listed 263 pension products (including 88 broad-based index funds), with a total pension product retention scale of 13.0531 million yuan, and opened a total of 53674 personal pension fund accounts.

Ten Years of Cultivation: Exploring the Path of Sustainable Public Welfare

The Shanghai Stock Exchange's "Guidelines" have included "social contribution" and "rural revitalization" in 21 topics, focusing on the practice of enterprises in participating in the national rural revitalization strategy and carrying out public welfare actions. Dongfang Securities initiated the establishment of the Shanghai Dongfang Securities Experience Enhancement Public Welfare Foundation (referred to as the "Experience Enhancement Public Welfare Foundation") in 2015. Based on the protection and promotion of cultural heritage, it focuses on children's art education and is committed to sowing cultural seeds in rural children's hearts through aesthetic education, exploring a sustainable public welfare path that promotes inheritance through education.

The report presents the public welfare achievements of the foundation over the past decade. Over the past decade, the Experience Enhancement Public Welfare Foundation has expanded its projects to remote rural areas and cultural heritage sites in more than ten provinces including Xinjiang, Gansu, Yunnan, Zhejiang, Anhui, Hubei, Hunan, and Shaanxi. It has launched the "Cultural Protection: 'Encountering Beauty in the West | Dunhuang' and Intangible Cultural Heritage Inheritance Series" and "Art Education Sowing: 'Experience Enhancement Art Classroom' Series" projects, forming a public welfare network connecting cultural heritage sites and rural schools. Dongfang Securities showcases its brand image of "responsibility and accountability" through solid public welfare practices.

Dongfang Securities' long-term investment and actions in sustainable development have been widely recognized by external authoritative institutions. By 2025, the MSCI ESG rating of Orient Securities will be upgraded to the highest level in the global industry, ranking in the top 10% of the global industry; The S&P CSA score has further broken through to 53 points, ranking among the leading levels of domestic securities companies; Hang Seng A-share Sustainable Development Index maintains an A rating and has been included in the Hang Seng Sustainable Development Enterprise Series Index for five consecutive years.

From "voluntary disclosure" to "mandatory regulation", from "single reporting" to "integrated management", the ESG practices of securities firms are undergoing profound changes. Entering the "15th Five Year Plan" period, how to deeply integrate ESG management into company strategy may become an important proposition for high-quality development of securities firms. Dongfang Securities stated that it will always adhere to the original intention of serving the country through finance, fulfill the mission of finance for the people, focus on the coordinated development strategy of energy and finance, truly permeate sustainable development from top-level design to daily operation, and translate strategic concepts into concrete actions. It will stride forward on the road of serving national strategies, empowering the real economy, and enhancing people's well-being, and strive to build a first-class modern investment bank.