香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 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。 截至二零二三年六月三十日止六個月之中期業績 申萬宏源（香港）有限公司（「本公司」）之董事局（「董事局」）欣然公佈，本公司及其附屬 公司（「本集團」）截至二零二三年六月三十日止六個月之未經審核簡明綜合業績連同上年度同 期之比較數字。 簡明綜合損益表 截至六月三十日止六個月 二零二三年 二零二二年 (未經審核) (未經審核) 附註 千港元 千港元 收入 3 361,010 281,338 — 使用實際利率法計算之利息收入 111,837 55,297 — 於香港財務報告準則第 15號範圍內之客戶合約收入 121,268 136,814 — 源自其他來源收入 127,905 89,227 其他虧損，淨額 3 (45,594) (35,166) 佣金費用 (19,739) (29,770) 僱員福利費用 (133,624) (134,405) 折舊 (25,123) (30,615) 利息費用 (89,629) ...

Economic Performance - In 2022, the company's actual GDP growth in mainland China fell to 3.0%, with a CPI increase of 2.0%[6] - For 2023, the company expects actual GDP growth in mainland China to rebound to around 5.2%-5.3%[11] - The Hong Kong stock market saw a decline, with the Hang Seng Index dropping by 15.5% in 2022, while southbound capital inflow was HKD 336.4 billion, slightly down from 2021[7] - The total amount raised in the Hong Kong stock market in 2022 was HKD 251.9 billion, a 67% decrease from HKD 773.3 billion in 2021, reflecting a significant slowdown in IPO trends[19] Financial Performance - In 2022, the company's revenue decreased by 42% year-on-year to HKD 426.34 million, down from HKD 730.29 million in 2021, primarily due to a weak offshore Chinese dollar bond market and significant fluctuations in the securities market[15] - The company recorded a pre-tax loss of HKD 871 million in 2022, compared to a pre-tax loss of HKD 118 million in 2021, with a shareholder loss of HKD 880 million versus HKD 96 million in the previous year[15] - Commission and fee income fell by 42% year-on-year to HKD 235.51 million, while interest income decreased by 4% to HKD 197.05 million[16] - Wealth management business revenue decreased by 26% to HKD 273.14 million, with commission and fee income down 44% to HKD 101.43 million and interest income from customer loans down 40% to HKD 105.53 million[19] - The company's investment business revenue decreased by 95% year-on-year to HKD 0.05 billion, primarily due to poor trading portfolio performance[34] Business Strategy and Development - The company plans to accelerate business expansion and enhance its cross-border business capabilities in the Guangdong-Hong Kong-Macao Greater Bay Area[12] - The company aims to deepen its business transformation, focusing on light capital operations and building a comprehensive financial service platform[12] - The company intends to optimize its talent structure and enhance human resource management to improve professional capabilities[12] - The company plans to enhance its wealth management services by expanding its product platform and improving its financial technology capabilities[22] - The company aims to continue expanding its private equity business and enhance its product matrix to meet diverse market client needs[40] Risk Management - The company will implement risk-adjusted return assessments and improve its risk control system to enhance overall asset allocation risk management[12] - The company will continue to focus on risk management while pursuing growth opportunities in margin financing and other interest income businesses[22] - The company has implemented a "three lines of defense" model for effective risk management and internal control systems[198] - The risk management department operates independently from business units, ensuring objective oversight of risk management practices[200] Human Resources and Employee Management - The total number of full-time employees increased to 315 in 2022 from 303 in 2021, with total employee costs amounting to approximately HKD 298 million, up from HKD 266 million in 2021[56] - The employee turnover rate increased to 36% in 2022, up from 28% in 2021[88] - The total number of employees receiving training was 294 in 2022, a slight decrease from 303 in 2021[95] - The average training hours per employee in 2022 was 28.5 hours, compared to 25 hours in 2021[95] - The percentage of employees receiving training was 10.5% in 2022, down from 12.0% in 2021[95] Environmental Impact - In 2022, the direct greenhouse gas emissions from company vehicles were 5.72 tons of CO2, a reduction of approximately 4.7% compared to the previous year[70] - The total greenhouse gas emissions (Scope 1 and 2) for 2022 were 555.97 tons, down from 609.20 tons in 2021, representing a decrease of about 8.8%[73] - The company aims to reduce direct greenhouse gas emissions from company vehicles by 15% by the end of 2025, targeting a total of 12.48 tons[71] - Total energy consumption decreased to 797.08 MWh in 2022 from 890.15 MWh in 2021, a reduction of approximately 10.4%[76] - The company has set a mid-term energy reduction target for 2022-2025, focusing on resource efficiency and waste management[70] Corporate Governance - The company adheres to high standards of corporate governance, complying with the relevant codes and regulations as mentioned in section 139[140] - The board of directors is responsible for corporate governance duties and may delegate responsibilities to committees as necessary[141] - The company has established a code of conduct and compliance manual for employees and directors[143] - The board has mechanisms in place to obtain independent views and opinions, including annual meetings with independent non-executive directors[150] - The company has adopted a board diversity policy, considering factors such as skills, knowledge, professional experience, gender, age, and cultural background in board composition[157] Community Engagement and Social Responsibility - The company sponsored and donated a total of HKD 18,800 in 2022, slightly down from HKD 18,900 in 2021 and up from HKD 16,000 in 2020[117] - The company continues to engage in charitable activities to support those in need and achieve environmental goals[116] - The company has prioritized sustainable and efficient products in its supply chain management, focusing on suppliers with environmental certifications[99] - The company has established policies to prevent child labor and forced labor, ensuring compliance with relevant laws and regulations as described in section 4.5[129] Compliance and Legal Matters - The company has not identified any significant violations of applicable laws and regulations affecting its operations in 2022[110] - The company maintained zero corruption litigation cases in 2022, 2021, and 2020[114] - The company reported no significant violations of relevant laws and regulations regarding emissions and waste management during the reporting period[119] - The company has implemented strict internal policies to prevent fraud and corruption, with no major risks identified in the current year[111]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 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。 截至二零二二年十二月三十一日止年度之全年業績 業績 申萬宏源（香港）有限公司（「本公司」）之董事局（「董事局」）欣然公告，本公司及其附屬公司 （「本集團」）截至二零二二年十二月三十一日止年度綜合業績連同上個財政年度之比較數字如下: 綜合損益表 截至十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收入 4 426,340 730,287 — 使用實際利率法計算之利息收入 97,141 170,061 — 於香港財務報告準則第 15號範圍內之客戶合約收入 235,506 409,191 — 源自其他來源收入 93,693 151,035 其他(虧損)/收益，淨額 4 (119,535) 12,092 佣金費用 (56,006) (150,541) 僱員薪酬和福利費用 (297,992) (265,890) 折舊 (66,197) (53,110) 利息費用 (108,118) (94,7 ...

Financial Performance - The company reported a revenue of HKD 281,338,000 for the six months ended June 30, 2022, a decrease of 37.5% compared to HKD 450,052,000 in the same period last year[7]. - The net loss for the period was HKD 123,430,000, compared to a profit of HKD 53,666,000 in the previous year, indicating a significant decline in performance[11]. - Total comprehensive loss for the period amounted to HKD 157,036,000, compared to a total comprehensive income of HKD 46,751,000 in the previous year[11]. - The company reported a basic and diluted loss per share of HKD 7.91, compared to earnings per share of HKD 3.44 in the previous year[7]. - The company reported a loss before tax of HKD (127,526) thousand for the six months ended June 30, 2022, compared to a profit of HKD 60,437 thousand in the same period last year[19]. - For the six months ended June 30, 2022, the total revenue from external customers was HKD 246,172,000, a decrease from HKD 455,829,000 for the same period in 2021, representing a decline of approximately 46%[28]. - The company reported a significant decrease in investment income, with total investment business income dropping to HKD 281,338,000 in 2022 from HKD 450,052,000 in 2021, a decline of approximately 37%[36]. - The company recorded a pre-tax loss of HKD 128 million in the first half of 2022, compared to a pre-tax profit of HKD 60.44 million in the first half of 2021[87]. - Shareholders' loss for the first half of 2022 was HKD 123 million, while in the same period of 2021, shareholders' profit was HKD 53.67 million[87]. Asset and Liability Management - The company’s non-current assets decreased to HKD 724,747,000 as of June 30, 2022, from HKD 1,095,833,000 at the end of the previous year[13]. - Current assets increased slightly to HKD 21,981,269,000 from HKD 21,811,450,000, indicating stable liquidity[13]. - The company’s total liabilities remained relatively stable, with current liabilities totaling HKD 18,924,682,000 as of June 30, 2022[13]. - The company’s cash and bank balances were HKD 571,227,000, showing a slight decrease from HKD 576,706,000 at the end of the previous year[13]. - The company’s total financial assets amounted to HKD 1,015,622,000 as of June 30, 2022, down from HKD 1,782,711,000 at the end of 2021[44]. - The total amount of accounts payable as of June 30, 2022, included HKD 9,330,335 as of June 30, 2022, from HKD 8,333,954 as of December 31, 2021, representing a growth of approximately 12%[56]. - The company reported overdue receivables from cash clients of HKD 48 million as of June 30, 2022 (December 31, 2021: HKD 27 million) and margin loans of HKD 1.789 billion (December 31, 2021: HKD 2.556 billion)[130]. Credit and Risk Management - The company’s expected credit loss expense increased to HKD 70,775,000, up from HKD 19,650,000 in the prior year, reflecting a deterioration in asset quality[7]. - The expected credit loss for financial assets measured at amortized cost was HKD 46,890,000 as of June 30, 2022, compared to HKD 19,206,000 at the beginning of the year[46]. - The company has no significant credit risk concentration due to a diverse customer base, with no collateral held for cash client receivables[53]. - The company believes that no impairment provision is necessary for overdue but not impaired accounts receivable, as they are backed by securities that can offset debts[53]. Operational Highlights - The company plans to focus on improving asset quality and exploring new market opportunities to enhance future performance[6]. - The company is actively promoting light capital business and implementing a "investment + investment banking" development strategy to create new growth points[86]. - The company aims to enhance its wealth management brand "Wynner" and improve its service offerings through financial technology[96]. - The company aims to expand its underwriting project reserves and actively participate in merger and acquisition advisory projects[100]. Corporate Governance - The company has complied with all applicable code provisions in the Corporate Governance Code as of June 30, 2022[144]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the interim results announcement and report for the six months ended June 30, 2022[146]. - The company aims to maintain high levels of corporate governance to enhance transparency and accountability to shareholders[144].

Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 730 million, a decrease of 13% compared to HKD 835 million in 2020[6] - The company recorded a pre-tax loss of HKD 118 million in 2021, compared to a pre-tax profit of HKD 209 million in 2020, primarily due to increased expected credit loss provisions for bond products[6] - The loss attributable to shareholders was HKD 95.75 million in 2021, compared to a profit of HKD 176 million in 2020, with a loss per share of HKD 0.0613[6] - The company’s board has proposed not to declare a final dividend for the year ended December 31, 2021, compared to a dividend of HKD 0.04 per share in 2020[7] - In 2021, the company's revenue decreased by 13% year-on-year to HKD 730 million, down from HKD 835 million in 2020, primarily due to weak performance in the offshore Chinese dollar bond market[21] - The company recorded a pre-tax loss of HKD 118 million in 2021, compared to a pre-tax profit of HKD 209 million in 2020, largely due to increased expected credit loss provisions in institutional services and trading business[21] Market Overview - The A-share IPO market was active in 2021, with 493 new listings raising RMB 547.8 billion, marking a year-on-year increase of 25% and 17% respectively[11] - The Hang Seng Index fell by 14.1% in 2021, while southbound capital inflows totaled HKD 454.4 billion, a slight decrease from 2020[11] - The company anticipates that the global monetary environment will accelerate tightening in 2022, influenced by high inflation and geopolitical risks from the Russia-Ukraine conflict[13] Revenue Sources - Commission and fee income increased by 34% year-on-year to HKD 409 million, driven by improved quality and volume in bond and equity underwriting projects[22] - Interest income rose by 9% year-on-year to HKD 206 million, benefiting from timely business strategies[22] - Investment business income decreased by 66% year-on-year to HKD 115 million, significantly impacted by volatility in the Chinese dollar bond market[22] - Wealth management business commission and fee income was HKD 181 million, slightly down from HKD 201 million in 2020, affected by a sluggish IPO market and reduced trading volume[25] - Interest income from customer loans increased by 18% year-on-year to HKD 175 million, while other interest income fell to HKD 10.78 million, a decrease of 67%[25] Business Strategy - The company plans to enhance risk management and optimize its asset-liability structure to improve operational coordination and strengthen its wealth management platform[16] - The outlook for the A-share market is expected to be upward with value stocks like financials and real estate likely to perform well in 2022[15] - The company aims to expand its cross-border business and enhance its market influence by leveraging overseas resources and competitive advantages[16] - The company plans to continue expanding its underwriting project reserves and participate in more financial advisory projects related to mergers and acquisitions[32] Operational Highlights - The company completed 64 bond projects in 2021, assisting clients in raising a total of USD 94.37 billion from state-owned and municipal investment platform projects[34] - The stock capital market team completed 9 IPO underwriting projects in 2021, including 1 exclusive sponsorship project[33] - The company launched a new generation online trading platform, enhancing trading functions and reducing cross-border transaction delays[28] - The financial innovation team has accelerated business development, with leveraged note financing growing nearly 100% year-on-year, contributing to diversified revenue sources[40] - Institutional services and trading business recorded investment income of HKD 114 million, a decrease of 65% year-on-year, primarily due to poor trading portfolio performance[40] Employee and Workforce - Total full-time employees increased to 303 in 2021 from 269 in 2020, with employee costs amounting to approximately HKD 266 million, down from HKD 280 million in 2020[62] - The employee turnover rate decreased from 32% in 2020 to 28% in 2021, indicating improved employee retention[100] - The average training hours per employee increased from 9.6 hours in 2020 to 12.0 hours in 2021, reflecting a focus on employee development[107] - The company maintained a zero fatality rate due to work-related incidents for three consecutive years[103] - The gender distribution of employees in 2021 was 147 females and 156 males, maintaining a balanced workforce[100] Environmental Impact - In 2021, the total greenhouse gas emissions amounted to 640.50 tons, a decrease of approximately 3.85% from 666.05 tons in 2020[87] - Direct greenhouse gas emissions from company vehicles were 6.00 tons, an increase of about 21% compared to 4.94 tons in 2020[82] - Indirect greenhouse gas emissions from electricity consumption were 603.20 tons, a reduction of approximately 3.34% from 624.00 tons in 2020[86] - The total amount of recycled paper increased to 2.43 tons, a rise of approximately 23% from 1.97 tons in 2020[93] - The company achieved a 99% usage rate of FSC-certified paper in 2021, maintaining the same level as in 2020[94] Governance and Compliance - The company held six board meetings and one annual general meeting during the fiscal year ending December 31, 2021[154] - The chairman, Fang Qingli, attended 5 out of 5 board meetings before resigning on October 26, 2021[154] - The new CEO, Liang Jun, was appointed on June 12, 2021, and attended 2 out of 2 board meetings since his appointment[160] - The company has established a policy for directors to seek independent professional advice at the company's expense when necessary[156] - The board of directors has ensured effective communication with shareholders, maintaining a shareholder communication policy available on the company's website[163]

Financial Performance - The company reported a total revenue of HKD 528,821,000 for the six months ended June 30, 2021, representing a 28.7% increase from HKD 410,755,000 in the same period of 2020[7]. - Net profit for the period was HKD 53,666,000, down 33.5% from HKD 80,697,000 in the previous year[7]. - Earnings per share (basic and diluted) decreased to HKD 3.44 from HKD 5.17, reflecting a decline of 33.5%[7]. - Total comprehensive income for the six months ended June 30, 2021, was HKD 46,751,000, down from HKD 60,395,000 in the same period of 2020, reflecting a decline of approximately 22.5%[15]. - The company reported a significant increase in interest expenses, totaling HKD 133,756,000 for the first half of 2021, compared to HKD 59,001,000 in the same period of 2020, representing an increase of approximately 126%[17]. - Pre-tax profit decreased by 35% year-on-year to HKD 60.44 million, down from HKD 92.83 million, primarily due to increased commission expenses and interest costs related to structured notes[81]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 26,478,329,000, an increase from HKD 15,353,324,000 at the end of 2020[11]. - The company's total liabilities increased to HKD 23,276,028,000 from HKD 12,236,255,000, indicating a significant rise in financial obligations[11]. - The net asset value was reported at HKD 4,022,971,000, slightly down from HKD 4,038,666,000 at the end of 2020[12]. - The total expected credit loss for financial assets as of June 30, 2021, was HKD 44,722,000, up from HKD 17,491,000 as of June 30, 2020[43]. - The total accounts payable as of June 30, 2021, was HKD 9,462,734, resulting in a net amount of HKD 9,237,834 after offsetting[70]. Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2021, showed a net outflow of HKD 4,084,369,000, compared to a net outflow of HKD 3,532,869,000 in the same period of 2020, indicating a worsening cash flow situation[17]. - The net cash inflow from financing activities for the six months ended June 30, 2021, was HKD 4,189,792,000, compared to HKD 3,486,044,000 in the same period of 2020, indicating an increase of approximately 20.1%[20]. - The company held cash and bank deposits of HKD 5.21 billion as of June 30, 2021, an increase from HKD 4.15 billion as of December 31, 2020[111]. - The liquidity ratio was 114% as of June 30, 2021, down from 125% as of December 31, 2020, while the capital debt ratio increased to 216% from 106%[111]. Revenue Sources - The company generated commission income from securities trading of HKD 93,314,000 for Hong Kong stocks, an increase from HKD 75,957,000 in the previous year, reflecting a growth of approximately 23.0%[30]. - Commission and fee income rose by 46% year-on-year to HKD 214.33 million, driven by the growth in wealth management and institutional services[83]. - Interest income increased by 30% year-on-year to HKD 139.15 million, compared to HKD 110.94 million in the previous year[86]. - Investment income net amount reached HKD 175.35 million, a 33% increase from HKD 152.72 million in the same period last year[86]. Receivables and Credit Management - The company experienced a significant increase in receivables, with accounts receivable rising by HKD 3,853,518,000 in the first half of 2021, compared to HKD 574,775,000 in the same period of 2020[17]. - Accounts receivable from cash clients rose to HKD 3,026,219,000 as of June 30, 2021, compared to HKD 1,382,825,000 as of December 31, 2020, indicating a significant growth of 118.8%[45]. - The aging analysis of accounts receivable showed that receivables over three months increased to HKD 12,668,000 as of June 30, 2021, from HKD 6,190,000 as of December 31, 2020[47]. - The overdue receivables from cash clients amounted to HKD 3.09 billion as of June 30, 2021, compared to HKD 0.28 billion as of December 31, 2020[116]. Dividends and Shareholder Information - The company declared and paid dividends of HKD 62,446,000 for the year-end 2020, an increase from HKD 46,834,000 for the year-end 2019, representing a growth of approximately 33.4%[20]. - The board of directors resolved not to declare an interim dividend for the six months ended June 30, 2021[126]. - As of June 30, 2021, Shenwan Hongyuan Holdings (B.V.I.) holds 402,502,312 shares, representing 25.78% of the company's issued shares[129]. - Shenwan Hongyuan Securities Co., Ltd. and Shenwan Hongyuan Group Co., Ltd. collectively hold 1,170,808,569 shares, accounting for 75.00% of the company's issued shares[131]. Management and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the interim report for the six months ended June 30, 2021[136]. - There was a change in the CEO position on June 12, 2021, with Mr. Liang Jun appointed as the new CEO, receiving a monthly salary of HKD 240,000[137]. - The board of directors consists of nine members, including five executive directors and three independent non-executive directors[138].

Financial Performance - For the year ended December 31, 2020, the company reported a revenue of HKD 835.3 million, an increase of 24% compared to HKD 675.6 million in 2019[11] - The company's net profit attributable to ordinary shareholders was HKD 175.6 million, up 29% from HKD 136.7 million in 2019[24] - Basic and diluted earnings per share increased by 20% to HKD 11.25 from HKD 9.37 in the previous year[24] - Total assets as of December 31, 2020, reached HKD 16.3 billion, a 59% increase from HKD 10.2 billion in 2019[11] - The company proposed a final dividend of HKD 0.04 per share for 2020, compared to HKD 0.03 per share in 2019, reflecting an increase of 33%[25] - Interest income rose by 61% to HKD 243.0 million from HKD 151.1 million in 2019[11] - Investment income net increased by 74% to HKD 287.8 million from HKD 165.4 million in 2019[11] - The company’s total equity increased to HKD 4.0 billion, a 3% rise from HKD 3.9 billion in 2019[11] - The company’s commission and fee income decreased by 15% to HKD 304.4 million from HKD 359.1 million in 2019[11] - The group's profit before tax rose by 32% to HKD 209.0 million in 2020, compared to HKD 158.0 million in 2019[36] - Shareholders' profit increased by 29% to HKD 176.0 million in 2020, up from HKD 137.0 million in 2019[36] Business Operations - The company experienced a significant market rebound in the second quarter of 2020, with the overall market trend returning to normal after the initial impact of the COVID-19 pandemic[27] - The average daily trading volume of the Hong Kong stock market reached HKD 129.5 billion in 2020, a 49% increase from HKD 87.2 billion in 2019[40] - The group plans to optimize its asset-liability structure and enhance operational coordination capabilities in 2021[33] - The group aims to strengthen its "investment + investment banking" competitive strategy to provide integrated financial services[33] - The group will focus on expanding cross-border business and leveraging resources from its parent company to enhance competitiveness in the Greater Bay Area[33] - Wealth management business line revenue increased by 67% year-on-year to HKD 390 million, with commission income rising by 96% to HKD 201 million and interest income growing by 43% to HKD 188 million[44] - Corporate finance business line saw a 70% decrease in commission income to HKD 38.84 million, while net investment income was HKD 5.93 million[50] - The bond capital market completed 23 projects, assisting clients in raising USD 2.091 billion for state-owned enterprises, USD 1.743 billion for real estate companies, and USD 520 million for industrial projects[53] - Institutional services and trading business line recorded revenue of HKD 388 million, representing a 45% year-on-year growth[58] - The trading portfolio size expanded from approximately HKD 2.2 billion to HKD 3.4 billion, achieving stable profit growth[58] - The company completed 8 IPO underwriting projects during the year, enhancing its service quality in the stock capital market[52] - The company plans to strengthen its bond capital market business by recruiting talented personnel and expanding its market share[53] - The company aims to enhance its wealth management platform by integrating internet technology and expanding its service offerings for high-net-worth clients[44] - The institutional sales team improved trading service quality through the implementation of a high-end trading system and enhanced algorithmic trading capabilities[61] - The company will continue to leverage the trend of international capital inflow into the A-share market and the return of Chinese concept stocks to the Hong Kong market[61] Financial Position - As of December 31, 2020, the group held cash of HKD 415 million, down from HKD 938 million in 2019, and financial assets at fair value of HKD 3.618 billion, up from HKD 2.189 billion in 2019[68] - The group’s total unutilized bank credit amounted to HKD 4.417 billion as of December 31, 2020, compared to HKD 3.523 billion in 2019[68] - The current ratio was 125% as of December 31, 2020, down from 153% in 2019, while the debt-to-equity ratio increased to 106% from 20% in 2019[68] - The group had no significant investments, acquisitions, or disposals during the year[70] - The total number of full-time employees was 269 as of December 31, 2020, with total employee costs amounting to approximately HKD 280 million, up from HKD 250 million in 2019[79] - The group’s overdue receivables from cash clients amounted to HKD 28 million as of December 31, 2020, down from HKD 32 million in 2019[72] - Margin loan balances increased to HKD 2.356 billion as of December 31, 2020, compared to HKD 873 million in 2019, with 27% of the margin loans lent to corporate clients[73] - The group is actively transforming towards fixed income and quasi-fixed income actively managed businesses, focusing on developing active management products to meet diverse market client needs[64] - The group has no significant contingent liabilities as of December 31, 2020[77] Environmental Impact - The direct greenhouse gas emissions from company vehicles amounted to 4.94 tons of CO2 in 2020[131] - The indirect greenhouse gas emissions from electricity and paper consumption in Hong Kong operations totaled 691.78 tons of CO2 in 2020[131] - The company implemented various energy-saving measures to improve operational efficiency and reduce energy consumption in 2020[131] - The company continues to use high-efficiency office equipment as part of its energy-saving initiatives from 2019[131] - The company is committed to improving its environmental performance by seeking opportunities to reduce energy and resource usage[129] - The main environmental impacts of the company's operations are concentrated in its offices and branches in Hong Kong, particularly in energy use and related greenhouse gas emissions[130] - The company aims to reduce greenhouse gas emissions through enhanced operational efficiency[131] - The company has policies in place to minimize significant impacts on the environment and natural resources[93] - The company focuses on sustainable practices, including paper usage and information technology equipment management[93] - The company is actively managing its supply chain to address environmental and social risks[110] - The total greenhouse gas emissions for 2020 were 657.94 tons, an increase of 6.9% from 615.68 tons in 2019[142] - The total energy consumption in 2020 was 955.8 MWh, up from 925.8 MWh in 2019, indicating a growth of 3.2%[147] - The total paper usage in 2020 was 8.08 tons, slightly up from 8.07 tons in 2019[147] - The company achieved a 99% usage rate of FSC certified paper in 2020, compared to 98% in 2019[147] - The total amount of paper recycled to avoid greenhouse gas emissions was 9.44 tons in 2020, an increase from 8.88 tons in 2019[142] - The energy consumption per employee was 3.55 MWh in 2020, compared to 3.37 MWh in 2019, reflecting a rise of 5.3%[147] - The company plans to continue implementing energy-saving measures to further reduce electricity consumption in 2021[138] - The company has received a "Waste Reduction Certificate" from a Hong Kong green organization for its ongoing efforts to minimize office waste[140] - The company has committed to donating obsolete IT equipment to non-profit organizations to extend the lifespan of the devices[136] - The company has not generated any hazardous waste in its operations[137] Corporate Governance - The company has not encountered any violations of advertising and privacy regulations regarding its products and services during the year[162] - There were no significant risks related to bribery identified during the year, and no confirmed corruption incidents involving the company or its employees[166] - The company actively participated in community investment, including donations of masks and antiviral coatings to low-income families during the COVID-19 pandemic[167] - The company received the "Caring Company" recognition for over five consecutive years, highlighting its commitment to corporate social responsibility[168] - The company held four board meetings and one annual general meeting during the fiscal year ending December 31, 2020[172] - All advertising and promotional materials must be truthful, with no complaints received regarding customer information leaks during the year[162] - The company has established a robust internal control framework to prevent fraud and unethical behavior[166] - The company prioritizes sustainable and high-efficiency products to minimize environmental and social impacts[161] - The company has implemented a "Know Your Customer" procedure to assess new clients' backgrounds and financial situations[166] - The company has established a policy for independent professional advice for directors, ensuring that costs are covered by the company[181] - The board of directors consists of a balanced mix of executive and non-executive directors, ensuring strong independent judgment[187] - The chairman and CEO roles are clearly separated to maintain a balance of power and authority within the company[181] - All directors are required to be re-elected at least every three years, ensuring accountability and transparency in governance[192] - The company has appropriate insurance arrangements for potential legal actions faced by its directors, reviewed annually[178] - The board meetings are conducted with sufficient notice, allowing all directors the opportunity to attend[177] - The company maintains effective communication with shareholders, ensuring their opinions are conveyed to the board[184] - The board has a structured process for appointing new directors, ensuring transparency and careful consideration[192] - The chairman ensures that all directors receive timely and accurate information for effective decision-making[183] - The company has a clear record-keeping process for board meetings, documenting discussions and decisions made[177] - The Nomination Committee was established in March 2012 and has held two meetings in the fiscal year ending December 31, 2020[196] - The committee reviewed the board's structure, size, composition, and diversity levels during the fiscal year[199] - The committee assessed the independence of each independent non-executive director and made recommendations for the re-election of retiring directors at the 2020 Annual General Meeting[199] - The committee proposed the appointment of Mr. Fang Qingli as the new executive director and chairman of the board, succeeding Mr. Chen Xiaosheng[199] - The company has adopted a board diversity policy, considering various factors such as skills, knowledge, experience, gender, age, and cultural background in board member selection[199] - The Nomination Committee has sufficient resources to fulfill its responsibilities and can seek independent professional advice when necessary[199] - The company has implemented a director nomination policy outlining the main selection criteria and procedures for director appointments and reappointments[199] - The board's appointments are based on merit, with objective standards considering the benefits of diversity[199] - The committee's meeting attendance record shows full participation from its members, indicating active engagement in governance matters[196] - The company ensures that new directors receive guidance on their responsibilities and the company's operations upon appointment[200]

SHENWAN HONGYUAN (H.K.) LIMITED 申 萬 宏 源 （ 香 港 ） 有 限 公 司 (Incorporated in Hong Kong with limited liability)(於香港註冊成立之有限公司) (Stock Code 股份代號 : 218) 20 2020 忠期報告 2020 忠觀 報 告 2020 RTERIM REPORT 頁次 | --- | |----------------------| | | | 公司資料 | | 業績 | | 簡明綜合損益表 | | 簡明綜合全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜合財務報表附註 | | 管理層探討與分析 | | 其他資料 | 2 3 3 4 5 7 9 11 29 40 申萬宏源（香港）有限公司 1 二零二零年中期報告 目錄 公司資料 | --- | --- | |---------------------|--------------------------------------| | 董事 | 主要往來銀行 | | 執行董事 | 中國銀行 ...

Financial Performance - The company reported a revenue of HKD 675,584,000 for 2019, representing a 30% increase from HKD 519,619,000 in 2018[6]. - Profit attributable to ordinary shareholders was HKD 136,664,000, up 42% from HKD 96,228,000 in the previous year[6]. - The company’s total assets increased by 30% to HKD 10,231,699,000 compared to HKD 7,863,656,000 in 2018[6]. - The net asset value rose by 77% to HKD 3,919,317,000 from HKD 2,208,110,000 in 2018[6]. - The basic and diluted earnings per share decreased by 22% to HKD 0.0937 from HKD 0.1209 in 2018[6]. - The company’s investment income turned positive at HKD 165,354,000 compared to a loss of HKD 9,757,000 in 2018[6]. - In 2019, the group's total revenue increased by 30% year-on-year to HKD 676 million, up from HKD 520 million in 2018, primarily driven by significant growth in corporate finance and institutional services[35]. - The group's pre-tax profit rose by 55% year-on-year to HKD 158 million, compared to HKD 102 million in 2018[35]. - Shareholders' profit attributable increased by 42% year-on-year to HKD 137 million, up from HKD 96 million in 2018[35]. - Commission and fee income, the group's main revenue source, increased by 5% year-on-year to HKD 359 million, despite a general market environment affecting brokerage commission income[36]. - Interest income decreased by 19% year-on-year to HKD 151 million due to regulatory impacts on margin financing[36]. - The net investment income reached HKD 165 million, a significant recovery from a net loss of HKD 9.8 million in the previous year[36]. Dividend and Shareholder Returns - The company declared a final dividend of HKD 0.03 per share, an increase from HKD 0.02 per share in 2018, reflecting a 94% increase in payout ratio[24]. Business Strategy and Market Focus - The company is shifting focus from traditional brokerage services to comprehensive wealth management, enhancing its wealth management platform and expanding product offerings[41]. - The group plans to accelerate the development of a one-stop comprehensive wealth management platform, leveraging internet technology to enhance service categories and expand product lines[41]. - The company aims to strengthen its capital scale and expand institutional client sales and trading services, enhancing its competitive strategy of "investment + investment banking" to provide integrated financial services[31]. Operational Highlights - The company completed 4 IPO sponsorships in 2019, including the largest H-share IPO in Hong Kong for Shenwan Hongyuan Group, showcasing improved execution capabilities in capital market projects[45]. - The stock capital market team completed 9 IPO underwriting projects in 2019, a significant increase from 3 projects in 2018, with a market share of approximately 6.35%[47]. - The company facilitated 16 fixed income financing projects in 2019, raising over USD 2.475 billion, including USD 1.07 billion from city investment platform projects[48]. - The structural financing services were enhanced in 2019, providing customized financing solutions to clients, thereby diversifying revenue streams[49]. - The institutional services and trading segment saw an 8% increase in stock business income to HKD 115 million, despite a general downturn in the Hong Kong financial market[52]. Environmental and Social Responsibility - The company implemented a series of environmentally friendly measures and participated in various community charity activities in 2019, demonstrating its commitment to corporate social responsibility[81]. - The total greenhouse gas emissions were reported, with specific metrics on emissions types and related data provided in the environmental performance overview[82]. - The company reported no hazardous waste generation, indicating a focus on sustainable practices and waste management[82]. - The total amount of non-hazardous waste generated was documented, with a focus on sustainable paper usage and IT equipment management[82]. - The company has policies in place for effective resource usage, including energy and water, as part of its environmental performance strategy[83]. - The company has outlined plans for energy efficiency and water usage improvements, although specific water consumption data was not applicable due to operational constraints[83]. - The company has taken actions to manage significant environmental impacts from its business activities, as detailed in its environmental performance report[85]. Governance and Compliance - The company has established a robust internal control framework to prevent fraud and unethical behavior, with no significant bribery risks reported during the year[118]. - The company has established compliance policies and procedures to manage compliance and legal risks, including customer identity verification and anti-money laundering checks[173]. - The board of directors is responsible for overseeing the effectiveness of the risk management and internal control systems, ensuring adequate resources and training are available[180]. - The audit committee, consisting of three independent non-executive directors, ensures the integrity of financial statements and monitors risk management and internal control procedures[182]. Employee Development and Community Engagement - The company has committed to enhancing employee knowledge and skills through training programs, contributing to workforce development[88]. - The company has conducted 14 continuous professional training seminars for all licensed employees as of December 31, 2019[113]. - The company received recognition as a "Family-Friendly Employer" by the Family Council, promoting family-friendly employment practices[113]. - The company actively engages in community investment, partnering with organizations like the Hong Kong Christian Youth Association for charitable activities[119]. Risk Management - The company has established a risk management and internal control system, structured around a three-line defense model to effectively manage risks[163]. - The Risk Management Department, Compliance Department, and Legal Department form the second line of defense in risk management, providing guidance and training on risk management to employees[166]. - The Internal Audit Department operates as the third line of defense, conducting independent audits of the group's risk management and internal control systems, reporting directly to the Audit Committee at least biannually[167]. - The Risk Management Committee is responsible for formulating risk strategies and policies, and for implementing a comprehensive risk management framework[171]. - The group has established a robust internal audit system to ensure compliance with policies, procedures, and regulatory requirements[168].

are in the state WAN HONGYUAN SHENWAN HONGYUAN (H.K.) LIMITED 申 萬 宏 源 ( 香 港 ) 有 限 公 司 (Incorporated in Hong Kong with limited liability)(於香港註冊成立之有限公司) (Start Cases III (Desecons) (Stock Code 股份代號 : 218) 019 中期報告 INTERIM REPORT 目錄 頁次 | --- | |----------------------| | | | 公司資料 | | 業績 | | 簡明綜合損益表 | | 簡明綜合全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜合財務報表附註 | | 管理層探討與分析 | | 其他資料 | 2 3 3 4 5 7 9 11 36 42 二零一九年中期報告 1 申萬宏源（香港）有限公司 公司資料 | --- | --- | |---------------------|------------------------------- ...