Financial Performance - Total revenue for 2021 was HKD 5,252,184,000, a decrease of 37.5% from HKD 8,329,747,000 in 2020[8]. - Commission and fee income increased to HKD 3,257,464,000 from HKD 2,864,575,000, representing a growth of 13.7%[8]. - Interest income decreased to HKD 1,741,000,000 from HKD 2,464,585,000, a decline of 29.3%[8]. - Net trading and investment income dropped significantly to HKD 253,720,000 from HKD 3,000,587,000, a decrease of 91.6%[8]. - Shareholders' profit attributable to the company was HKD 300,826,000, down 84.5% from HKD 1,932,877,000 in 2020[8]. - Haitong International achieved a total revenue of HKD 5.252 billion in 2021, with a net profit of HKD 301 million, marking a significant decline of approximately 84% in annual profit attributable to shareholders compared to the previous year[37]. - The total cost decreased by 28% to HKD 3.76 billion, reflecting effective cost control measures implemented by the company[90]. - The total cost-to-income ratio increased to 72% from 62% in the previous year, indicating a rise in operational costs relative to income[89]. Asset Management and Investment - The asset management scale of Haitong International reached approximately HKD 54 billion by the end of 2021, with both management fees and performance fees increasing[43]. - Haitong International's asset management team is exploring opportunities for ESG product issuance and management in the European and American markets[43]. - The asset management division's commission and fee income was HKD 384,380 thousand in 2021, a 4% increase from HKD 370,651 thousand in 2020[132]. - The total assets under management in the asset management division were HKD 54 billion as of December 2021, down from HKD 60.8 billion in December 2020[132]. - The investment division focused on improving the quality of its investment portfolio and exited several investment funds during the year[137]. Market Position and Achievements - The company ranked second in Hong Kong's equity financing project underwriting by issuance volume and completed 10 equity financing projects in the US and India, enhancing its project execution capability and brand influence[32]. - Haitong International's research team achieved first place in 15 categories during the 2021 Asia Money broker rankings, reflecting its strong performance in the industry[32]. - The company ranked second globally in the issuance of G3 high-yield corporate bonds, excluding Japan, based on the number of issuances[39]. - The company completed 39 IPO projects in the Hong Kong market in 2021, ranking second among all investment banks by issuance volume[40]. - The company was involved in six of the top ten IPOs in the Hong Kong market by capital size, including notable projects like JD Logistics and SenseTime[40]. Risk Management and Financial Stability - The company emphasized a diversified income source and risk management strategy, maintaining its industry-leading position amid market uncertainties[32]. - The company maintained a "prudent and conservative" risk appetite, with key risk, capital, and liquidity indicators at their best levels in recent years[46]. - In 2021, Haitong International proactively reduced its asset-liability scale and adjusted its risk asset structure to ensure stable business operations amid a challenging global economic environment[46]. - The company aims to enhance its risk management framework, maintaining key risk indicators at optimal levels to improve overall risk resilience[59]. Corporate Governance - The board is committed to high standards of corporate governance and has complied with the corporate governance code throughout the fiscal year[176]. - The company has established governance policies and procedures, including compliance with legal and regulatory requirements[194]. - The board consists of 12 members, including 5 executive directors and 4 independent non-executive directors, ensuring a diverse composition[182]. - The company has a procedure for directors to seek independent professional advice, with costs covered by the company[187]. - The company encourages directors to participate in continuous professional development, with training records maintained for each director[192]. Sustainability and ESG Initiatives - Haitong International aims to achieve its carbon neutrality goal by 2025, demonstrating its commitment to sustainable finance[47]. - The company achieved an MSCI ESG rating upgrade to A and was included in the FTSE4Good Index, reflecting its outstanding performance in ESG practices[46]. - The company is focusing on ESG investments as a new benchmark in the asset management industry, aligning with global trends and regulatory requirements[75]. - The company launched the world's first ESG-themed Asian high-yield dollar bond ETF in Europe, which quickly gained popularity among overseas investors, leading to rapid growth in asset scale[32]. Future Outlook - The global economic outlook for 2022 is highly uncertain, with potential inflation and supply chain disruptions posing risks to financial market stability[33]. - The outlook for 2022 indicates a challenging global environment with potential capital outflows from emerging markets due to tightening monetary policies[47]. - The company plans to explore new business models and diversify fee income in response to the anticipated negative impact on the primary market in 2022 due to global uncertainties[74]. - Haitong International plans to enhance its flagship asset management products and strengthen its leadership in ESG investments while seeking opportunities in Southeast Asia and overseas markets in 2022[78].

Financial Performance - Total revenue for the three months ended March 31, 2022, was HKD 380,647,000, a decrease of 58% compared to HKD 910,581,000 for the same period in 2021[2] - Net trading and investment income for the same period was HKD 392,433,000, down from HKD 583,293,000, reflecting a significant decline[2] - The company reported a loss attributable to shareholders of HKD 640,280,000 for the three months ended March 31, 2022, compared to a profit of HKD 557,595,000 in the prior year[3] - Basic loss per share was HKD (10.81) for the current period, compared to earnings of HKD 9.51 per share in the same quarter of the previous year[3] - The company recorded a net loss before tax of HKD 766,802,000 for the three months ended March 31, 2022, compared to a profit of HKD 663,645,000 in the same period last year[3] - The total expenses for the three months ended March 31, 2022, were HKD 1,867,931,000, an increase from HKD 1,160,119,000 in 2021[11] - The net loss of investment securities measured at fair value amounted to HKD 874,778,000, compared to a net gain of HKD 45,568,000 for the three months ended March 31, 2021[15] - The net loss from financial assets held for trading and market-making activities was HKD 82,572,000, down from a net gain of HKD 201,442,000 for the same period in 2021[15] Assets and Liabilities - Total assets as of March 31, 2022, were HKD 103,489,558,000, a decrease of 1% from HKD 104,991,595,000 as of December 31, 2021[2] - Total liabilities as of March 31, 2022, were HKD 76,574,260, compared to HKD 77,465,150 as of December 31, 2021, indicating a decrease of about 1.15%[5] - Shareholders' equity decreased to HKD 26,915,298,000, down 2% from HKD 27,526,445,000 at the end of 2021[2] - The net asset value per share as of March 31, 2022, was HKD 4.46, down from HKD 4.56 at the end of 2021[2] - The total current assets were HKD 19.95 billion as of March 31, 2022, compared to HKD 20.39 billion as of December 31, 2021, reflecting a decrease of approximately 2.2%[23] - The total non-current investments decreased slightly from HKD 28.09 billion as of December 31, 2021, to HKD 27.85 billion as of March 31, 2022, a decline of about 0.9%[23] Revenue Sources - Commission and fee income for the same period was HKD 150,903,000, down 42% from HKD 261,158,000 in 2021[13] - Interest income from margin financing was HKD 182,915,000, a decline of 24% from HKD 241,780,000 in the previous year[13] - The wealth management segment reported revenue of HKD 45,090,000 for the three months ended March 31, 2022, compared to HKD 176,549,000 in 2021[11] - The global markets segment's revenue for the same period was HKD 150,399,000, down from HKD 136,139,000 in 2021[11] - The company has no single customer contributing more than 10% of total revenue, indicating a diversified revenue base[9] Customer Financing and Investments - The company reported a significant increase in customer financing to HKD 13,015,122, up from HKD 12,087,797, which is an increase of approximately 7.7%[5] - The company's margin financing provided to clients amounted to HKD 96.38 billion as of March 31, 2022, up from HKD 91.60 billion on December 31, 2021, indicating an increase of about 8.5%[30] - The total amount of regular financing provided was HKD 3.38 billion as of March 31, 2022, compared to HKD 2.93 billion as of December 31, 2021, marking an increase of approximately 15.4%[32] - The total current portion of margin financing was HKD 12.57 billion as of March 31, 2022, compared to HKD 11.46 billion as of December 31, 2021, showing an increase of about 9.7%[29] - The total non-current portion of margin financing was HKD 13.02 billion as of March 31, 2022, up from HKD 12.09 billion as of December 31, 2021, representing an increase of approximately 7.6%[29] Impairment and Provisions - The impairment provision for margin financing increased to HKD 104,503,000 from HKD 52,044,000 year-on-year[16] - The company reported a provision for impairment of HKD 67 million related to certain margin clients due to a decline in the market value of pledged listed stocks[31] Strategic Initiatives - The company plans to enhance its market expansion strategies and product development in response to the current financial performance[10] - The company decided not to declare an interim dividend for the year ended December 31, 2021, and proposed a stock dividend subject to shareholder approval[21] Governance and Risk Management - The board of directors includes a mix of executive and independent non-executive members, ensuring diverse oversight[34] - The risk management department regularly reviews the status of term financing and the financial condition of borrowers to minimize credit risk[33]