其履历显示，此次获推荐为该公司董事长人选的女士张秋云，生于1972年，个人简历比较丰富，存在着较多"跨界"的印 记。张秋云目前为中原证券的董事、河南投资集团副总经理。过往履历来看，她最早担任过开封市第一中学教师、河南 省发改委财政金融处任副调研员、副处长，河南省宏观经济研究院党支部书记，中国（河南）自由贸易试验区郑州片区 管委会常务副主任，自2019年6月至今任河南投资集团有限公司金融管理部主任，自2022年9月至今任河南中原金融控股 有限公司董事长，2020年6月至2021年11月任中原证券监事。 张秋云目前是河南投资集团副总经理，而河南投资集团直接和间接持有中原证券有表决权股份占中原证券总股份的 22.05%，是中原证券的控股股东。 从教师到券商董事长，中原证券新任70后女掌门能否扭转业 绩颓势？ 又一家券商要更换董事长了。 3月25日晚间，中原证券公告，近日，该公司收到中共河南省委相关文件，推荐张秋云为中原证券董事长人选。 其中，第三季度实现营业收入9370.15万元，同比下降78.28%，归属于上市公司股东的净利润亏损3809.55万元。据悉， 中原证券第三季度发生亏损，主要是受到自营业务的影响，投资 ...

Group 1 - Zhang Qiuyun has been recommended as the chairman of Zhongyuan Securities, previously a teacher at Kaifeng No. 1 Middle School [2][4] - Before the election of the new chairman, Lu Zhilin will continue to perform the duties of chairman [3] - Zhongyuan Securities was established on November 8, 2002, with a registered capital of 4.643 billion yuan, and its major shareholders include Hong Kong Central Clearing Limited and Henan Investment Group [4] Group 2 - In the first half of 2024, Zhongyuan Securities achieved operating income of 1.199 billion yuan, a year-on-year increase of 14.62% [4] - The net profit attributable to shareholders was 201 million yuan, reflecting a year-on-year growth of 20.31% [4] - The net cash flow from operating activities was 857 million yuan [4]

Financial Performance - Operating revenue for Q3 2024 was RMB 93,701,464.79, a decrease of 78.28% compared to the same period last year[5] - Net profit attributable to shareholders of the listed company for Q3 2024 was a loss of RMB 38,095,532.80, down 193.97% year-on-year[5] - The net profit after deducting non-recurring gains and losses was a loss of RMB 54,443,386.76, a decrease of 241.05% compared to the previous year[5] - Basic earnings per share for the reporting period decreased by 194.25%, attributed to the decrease in operating revenue leading to a reduction in net profit attributable to shareholders[9] - Diluted earnings per share for the reporting period also decreased by 194.25%, reflecting the same reasons as basic earnings per share[9] - The weighted average return on equity decreased by 0.56 percentage points, primarily due to the decline in operating revenue[9] - Total operating revenue for the first three quarters of 2024 was RMB 1,292,372,031.84, a decrease of 12.5% compared to RMB 1,477,099,253.79 in the same period of 2023[22] - Net profit for the first three quarters of 2024 was RMB 141,298,246.47, down 30% from RMB 201,831,266.45 in 2023[23] - The company reported a total comprehensive income of RMB 142,333,648.83, down from RMB 209,727,345.80, a decrease of 32%[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 51,671,270,746.01, a slight decrease of 0.06% from the end of the previous year[5] - The total liabilities decreased slightly to ¥37,469,499,524.37 from ¥37,551,184,086.55, a reduction of approximately 0.22%[21] - The company's total equity, including minority interests, was reported at ¥14,201,771,221.64, compared to ¥14,150,499,685.91, showing a slight increase of about 0.36%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 123,202, with 123,166 being A-share holders[11] - The largest shareholder, Hong Kong Central Clearing Limited, holds 1,195,156,550 shares, representing 25.74% of the total shares[11] - Henan Investment Group Co., Ltd. is the second-largest shareholder, holding 822,983,847 shares, which is 17.73% of the total shares[11] - The company is unaware of any related party relationships or concerted actions among the top shareholders[14] Cash Flow and Investments - Cash flow from operating activities generated a net cash inflow of RMB 5,219,709,646.41, a significant recovery from a net outflow of RMB 1,191,543,618.38 in the previous year[25] - Cash inflow from investment activities for the first three quarters of 2024 was $259.36 million, a decrease of 83.83% compared to $1.60 billion in the same period of 2023[26] - Net cash flow from investment activities for the first three quarters of 2024 was $182.32 million, down 87.58% from $1.47 billion in 2023[26] - Cash inflow from financing activities for the first three quarters of 2024 was $6.00 billion, a decrease of 22.14% compared to $7.72 billion in 2023[26] - The net increase in cash and cash equivalents for the first three quarters of 2024 was $6.80 billion, contrasting with a decrease of $641.44 million in 2023[26] - The ending balance of cash and cash equivalents as of September 2024 was $20.19 billion, an increase from $12.66 billion in the same period of 2023[26] Operational Metrics - The risk coverage ratio improved to 302.58%, up from 248.71% at the end of the previous year[6] - The liquidity coverage ratio increased to 269.94%, compared to 198.96% at the end of the previous year[6] - Non-recurring gains and losses totaled RMB 16,347,853.96 for the current period, with government subsidies contributing significantly[7] - The company plans to focus on enhancing its investment banking and asset management services to drive future growth[22]

Financial Performance - Operating revenue for Q3 2024 was CNY 93,701,464.79, a decrease of 78.28% compared to the same period last year[2] - Net profit attributable to shareholders was a loss of CNY 38,095,532.80, representing a decline of 193.97% year-on-year[2] - Net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 54,443,386.76, down 241.05% from the previous year[2] - Basic and diluted earnings per share were both CNY -0.0082, a decrease of 194.25% compared to the same period last year[2] - The company experienced a significant decrease in operating income primarily due to reduced investment income and fair value changes[7] - Total operating revenue for the first three quarters of 2024 was CNY 1,292,372,031.84, a decrease of 12.5% compared to CNY 1,477,099,253.79 in the same period of 2023[15] - Operating profit for the first three quarters of 2024 was CNY 130,631,054.15, compared to CNY 205,327,868.52 in 2023, representing a decline of 36.4%[15] - The total profit for the third quarter of 2024 was approximately CNY 143.47 million, a decrease from CNY 206.46 million in the same period of 2023, representing a decline of about 30.5%[16] - The net profit attributable to shareholders of the parent company was CNY 163.17 million, down from CNY 207.82 million year-on-year, reflecting a decrease of approximately 21.5%[16] - The comprehensive income attributable to shareholders of the parent company totaled CNY 164.20 million, compared to CNY 215.72 million in the previous year, indicating a decline of around 23.8%[16] Assets and Liabilities - Total assets at the end of the reporting period were CNY 51,671,270,746.01, a slight decrease of 0.06% from the end of the previous year[3] - Total assets as of the end of Q3 2024 were CNY 51,671,270,746.01, slightly down from CNY 51,701,683,772.46 at the end of 2023[14] - Total liabilities decreased to CNY 37,469,499,524.37 from CNY 37,551,184,086.55, a reduction of 0.2%[14] - Shareholders' equity increased to CNY 14,201,771,221.64 from CNY 14,150,499,685.91, reflecting a growth of 0.4%[14] Cash Flow - The net cash flow from operating activities was CNY 5.22 billion, a significant improvement compared to a net outflow of CNY 1.19 billion in the same period last year[17] - The total cash and cash equivalents at the end of the period reached CNY 20.19 billion, an increase from CNY 12.66 billion at the end of the third quarter of 2023, representing a growth of approximately 59.3%[18] - The cash inflow from financing activities was CNY 6.00 billion, while the cash outflow was CNY 4.60 billion, resulting in a net cash flow of CNY 1.40 billion from financing activities[17] - The company received CNY 1.43 billion in interest, fees, and commissions during the quarter, slightly up from CNY 1.43 billion in the same period last year[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 123,202, with the largest shareholder holding 25.74% of the shares[8] - As of September 30, 2024, Henan Investment Group Co., Ltd. holds a total of 1,023,556,847 shares, representing 22.05% of the company's total issued shares[11] - The top 10 shareholders include Anshan Iron and Steel Group Co., Ltd. with 177,514,015 shares (3.82%) and Jiangsu Suhao Holding Group Co., Ltd. with 149,864,507 shares (3.23%) as of September 30, 2024[10] - The total number of shares held by the top 10 unrestricted shareholders amounts to 1,195,156,550 shares, with Hong Kong Central Clearing Limited being the largest holder[10] - The company has not reported any significant changes in the shareholding structure of the top 10 shareholders compared to the previous period[12] - The report indicates that there are no changes in the lending and borrowing of shares among the top shareholders compared to the previous period[11] Non-Recurring Gains and Other Information - The company reported non-recurring gains of CNY 5,986,499.61 from government subsidies during the reporting period[5] - The company reported a net decrease in trading financial instruments amounting to CNY 6.03 billion during the quarter[17] - The financial statements as of September 30, 2024, are unaudited, indicating that the company is still in the process of finalizing its financial results for the quarter[12] - The report does not indicate any new strategies or market expansions during the quarter[12] - There are no significant reminders or additional important information regarding the company's operational performance during the reporting period[12] - The company has not disclosed any new product or technology developments in the current report[12] Investment Income - Net interest income increased to CNY 122,982,456.75 from CNY 106,943,845.02, reflecting a growth of 15.5% year-over-year[15] - Investment income rose to CNY 899,787,556.26, up from CNY 754,765,091.74, marking an increase of 19.2% year-over-year[15] Market Presence and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge in the financial services sector[19]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling RMB 27,857,308.20 based on a total share capital of 4,642,884,700 shares as of June 30, 2024[4] - The cash dividend per 10 shares is CNY 0.06, with no stock bonus or capital increase planned[125] - The total cash dividend amount represents 13.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[125] Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,198,670,567.05, representing a 14.62% increase compared to ¥1,045,764,808.74 in the same period last year[40] - Net profit attributable to shareholders of the parent company was ¥201,265,120.05, up 20.31% from ¥167,282,207.98 year-on-year[40] - The net cash flow from operating activities was ¥856,846,780.21, a significant recovery from a negative cash flow of -¥564,121,298.87 in the previous year[40] - Total assets increased by 2.90% to ¥53,198,797,130.31 from ¥51,701,683,772.46 at the end of the previous year[41] - Total liabilities rose by 3.66% to ¥38,923,940,463.36 compared to ¥37,551,184,086.55 at the end of the previous year[41] - The weighted average return on net assets increased to 1.44%, up from 1.21% in the previous year, reflecting improved profitability[42] - The company's net capital at the end of the reporting period was ¥9,796,971,098.20, an increase from ¥8,651,125,530.23 at the end of the previous year[44] - The risk coverage ratio improved to 326.23%, up from 248.71% in the previous year, indicating stronger risk management[44] Market Conditions - The A-share market indices showed a decline as of June 28, 2024, with the Shanghai Composite Index down by 0.25%, Shenzhen Component Index down by 7.10%, and ChiNext down by 10.99% compared to the beginning of the year[46] - The total trading volume of stock funds in the first half of 2024 was RMB 230.34 trillion, a year-on-year decrease of 7.62%[46] - The scale of equity financing in the first half of 2024 was RMB 173 billion, a significant year-on-year decline of 61.82%, with IPOs raising RMB 32.49 billion, down 74.57%[46] Business Expansion and Strategy - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[5] - The company has been approved for multiple qualifications by the China Securities Regulatory Commission, including IPO underwriting and financial advisory for mergers and acquisitions[29] - Central China Securities has expanded its business scope to include futures brokerage and private equity investment through its subsidiaries[33] - The company is actively involved in the interbank bond market and has qualifications for various financial product sales, indicating a diversified revenue stream[32] - The company has a strong focus on expanding its market presence and enhancing its service offerings through strategic qualifications and partnerships[31] - Central China Securities aims to leverage its diverse qualifications to capture growth opportunities in the evolving financial landscape[30] Risk Management - The company maintains a robust risk management strategy, balancing capital, risk, and returns to provide stable profit returns to shareholders[105] - The risk management framework consists of four layers, including the board of directors, risk control committees, and various management departments[106] - The company has established a comprehensive risk management information system covering all risk types and departments, enhancing risk identification and monitoring[108] - Key risks identified include credit risk, market risk, liquidity risk, and operational risk, with specific measures in place to manage each[109] - Credit risk management focuses on entry management, credit limits, due diligence, and ongoing monitoring of significant investments[110] - Market risk management includes strict investment authorization, risk limit monitoring, and the use of quantitative models for risk assessment[111] Legal and Compliance Issues - The company is involved in several ongoing legal disputes, with estimated liabilities including CNY 20 million related to Shenwu Technology Group and CNY 43,165.83 related to Kewen Food Group[130] - The company has faced regulatory scrutiny from the Henan Securities Regulatory Bureau regarding compliance issues and has been mandated to implement corrective measures[135] - The company has completed relevant rectification work and submitted a report to the Henan Securities Regulatory Bureau[136] Employee and Corporate Governance - As of the end of the reporting period, the group employed 2,627 people, with 2,304 in the company and 323 in subsidiaries[119] - The company has implemented a performance evaluation mechanism to motivate employees, with compensation including base salary, allowances, performance bonuses, and benefits[119] - The company has adhered to the Corporate Governance Code and has implemented measures to enhance corporate governance practices[143] Asset Management and Investment - The company is focusing on enhancing its asset management and investment banking services to drive future growth[198] - The company plans to enhance professional capabilities and expand the asset management product line to meet diverse client needs, focusing on fixed income products[62] - The company aims to recover RMB 22.0854 million from risk projects in the first half of 2024[65] Financial Instruments and Debt Management - The company has established a repayment working group to ensure timely payments to bondholders[166] - The total amount raised from the bond issuance was RMB 7.00 billion, with no remaining balance at the end of the reporting period[168] - The company has maintained strict compliance with legal regulations and has engaged multiple securities firms as trustees to protect bondholders' interests[167]

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,198,670,567.05, representing a 14.62% increase compared to ¥1,045,764,808.74 in the same period last year[31]. - Net profit attributable to shareholders of the parent company was ¥201,265,120.05, up 20.31% from ¥167,282,207.98 year-on-year[31]. - The net profit after deducting non-recurring gains and losses was ¥197,291,564.12, reflecting a 26.44% increase from ¥156,041,312.09 in the previous year[31]. - The total assets at the end of the reporting period amounted to ¥53,198,797,130.31, a 2.90% increase from ¥51,701,683,772.46 at the end of the previous year[32]. - The total liabilities increased by 3.66% to ¥38,923,940,463.36 from ¥37,551,184,086.55 year-on-year[32]. - The weighted average return on net assets rose to 1.44%, an increase of 0.23 percentage points compared to 1.21% in the previous year[33]. - The company's total comprehensive income attributable to the parent company for the first half of 2024 was RMB 208,225,465.23, an increase from RMB 181,166,706.89 in the same period of 2023, representing a growth of approximately 14.9%[179]. - The net profit for the first half of 2024 was RMB 179,401,440.76, up from RMB 163,729,512.49 in the first half of 2023, representing a growth of 9.9%[178]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling approximately RMB 27,857,308.20 (including tax) based on a total share capital of 4,642,884,700 shares as of June 30, 2024[3]. - The company plans to distribute a cash dividend of 0.06 CNY per 10 shares, totaling 27,857,308.20 CNY, which represents 13.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[116]. Risk Management - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[4]. - Major risks faced by the company include credit risk, market risk, liquidity risk, reputation risk, operational risk, compliance risk, and information technology risk[101]. - The company maintains a robust risk management strategy, focusing on balancing capital, risk, and returns to provide stable profit returns to shareholders[97]. - A four-tier risk management structure is established, including the board of directors, risk control committees, risk management headquarters, and frontline risk control systems[98]. - The company has developed a comprehensive risk management information system covering various risk types and departments, facilitating risk identification, measurement, assessment, monitoring, and reporting[100]. Market Conditions - As of June 28, 2024, major A-share market indices showed declines: Shanghai Composite Index -0.25%, Shenzhen Component Index -7.10%, ChiNext Index -10.99%, and STAR Market -16.42%[37]. - In the first half of 2024, the total trading volume of stock funds in the two markets was RMB 230.34 trillion, a year-on-year decrease of 7.62%[37]. - The scale of equity financing in the industry was RMB 173 billion, down 61.82% year-on-year, with IPOs totaling 44 and raising RMB 32.49 billion, declines of 74.57% and 84.50% respectively[37]. Client and Revenue Growth - In the first half of 2024, the total number of clients in the securities brokerage business reached 3.055 million, an increase of 2.20% year-on-year[45]. - The company's public fund sales amounted to RMB 2.491 billion, representing an increase of 85.00% compared to the same period last year[45]. - The company aims to enhance its wealth management services by integrating online and offline operations, focusing on customer satisfaction and personalized services[45]. - The company achieved a cumulative underwriting/distribution amount of RMB 7.491 billion from 130 bond projects[49]. Compliance and Governance - The board of directors guarantees the truthfulness, accuracy, and completeness of the semi-annual report, with no false records or misleading statements[3]. - The company has been subject to regulatory scrutiny by the Henan Securities Regulatory Bureau for various compliance issues, including improper management of subsidiary investments and risk assessments[124]. - The company has maintained compliance with the Corporate Governance Code and has adopted relevant standards for directors and supervisors during the reporting period[132][133]. Operational Efficiency - The company is committed to optimizing its cost structure and enhancing operational efficiency as part of its strategic initiatives[56]. - The company plans to enhance its professional service capabilities by expanding its stock custody business and enhancing customer resources in the brokerage business[73]. - The company is focusing on compliance culture building and has conducted extensive compliance training for employees[108]. Future Strategies - The company plans to enhance its investment banking capabilities and expand project reserves, particularly around the "7+28+N" industrial chain in Henan[39]. - The company aims to support local enterprises in utilizing overseas capital markets for development, enhancing its strategic role in the Henan capital market[41]. - The company plans to enhance its influence in the Hong Kong capital market by actively expanding various financial advisory and placement projects in the second half of 2024[73]. - The company aims to leverage new technologies in its financial services to improve operational efficiency and customer experience[195].

Financial Performance - For the first half of 2024, the company reported operating revenue of CNY 1,198,670,567.05, a 14.62% increase compared to CNY 1,045,764,808.74 in the same period last year[24]. - The net profit attributable to shareholders of the parent company rose by 20.31% to CNY 201,265,120.05 from CNY 167,282,207.98 year-on-year[24]. - The net cash flow from operating activities improved significantly to CNY 856,846,780.21, compared to a negative cash flow of CNY -564,121,298.87 in the previous year[24]. - Total assets increased by 2.90% to CNY 53,198,797,130.31 from CNY 51,701,683,772.46 at the end of the previous year[24]. - Total liabilities rose by 3.66% to CNY 38,923,940,463.36 from CNY 37,551,184,086.55[24]. - The company's total equity attributable to shareholders increased to CNY 14,048,983,256.41, up from CNY 13,902,762,596.08, marking a growth of 1.05%[24]. - Basic earnings per share remained stable at CNY 0.04, while the diluted earnings per share also held at CNY 0.04[25]. - The weighted average return on net assets improved to 1.44%, an increase of 0.23 percentage points from 1.21% in the previous year[25]. - The total comprehensive income for the first half of 2024 was RMB 186,361,785.94, compared to RMB 177,614,011.40 in the same period of 2023, reflecting an increase of 4.9%[169]. - The company's net profit for the first half of 2024 was RMB 179,401,440.76, up from RMB 163,729,512.49 in the first half of 2023, reflecting a growth of 9.9%[169]. Risk Management - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[7]. - The company faces significant risks from changes in national macroeconomic policies and regulatory measures that could adversely affect its operations[6]. - The company's management team is committed to maintaining compliance with legal and regulatory standards to mitigate operational risks[7]. - The risk coverage ratio improved to 326.23% from 248.71%, indicating enhanced risk management capabilities[26]. - The company has implemented a comprehensive reputation risk management system, focusing on proactive monitoring and response to potential reputation risks[97]. - The company has strengthened liquidity risk management by establishing a monitoring mechanism linked to liquidity risk indicators and optimizing asset allocation structures[95]. - The company aims to maintain market risk within the limits authorized by the board, ensuring effective risk control measures are in place[94]. - The company has established a robust information technology risk management framework, ensuring system stability and security through monitoring and testing[101]. Corporate Governance - The company's board of directors and supervisory board members have all attended the board meeting, ensuring governance and oversight[3]. - The annual shareholders' meeting held on June 20, 2024, approved multiple resolutions including the 2023 annual financial report and profit distribution plan[104]. - The company has appointed new executives, including Li Feng and Wang Xiaogang as deputy general managers, and Guo Liangyong as financial director[106]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[110]. - The company has not experienced any changes in controlling shareholders or actual controllers during the reporting period[133]. Dividend and Capital Management - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling RMB 27,857,308.20 based on a total share capital of 4,642,884,700 shares as of June 30, 2024[4]. - The company does not plan to increase capital through capital reserves or issue bonus shares during this reporting period[4]. - The registered capital remains unchanged at CNY 4,642,884,700.00, while net capital increased to CNY 9,796,971,098.20 from CNY 8,651,125,530.23, reflecting a growth of approximately 13.2%[13]. - The company has committed to invest at least 3% of the previous year's revenue in compliance and risk control, and at least 6% in information technology from 2022 to 2024[115]. Market and Industry Context - The securities industry is facing significant pressure on overall profitability, with a notable decline in equity financing by 61.82% year-over-year[29]. - The company is focusing on integrating its asset management and wealth management services to enhance client offerings[31]. - The firm is actively expanding its project reserves in the bond business, particularly around the "7+28+N" industrial chain in Henan[31]. - The total trading volume of stock funds in the two markets was RMB 230.34 trillion, a year-on-year decrease of 7.62%[35]. - In the first half of 2024, the total amount raised by IPOs in the Shanghai and Shenzhen markets was RMB 32.493 billion, a year-on-year decline of 84.50%[38]. Legal and Compliance Issues - The company is involved in multiple ongoing legal disputes, with a total amount involved in litigation reaching CNY 20 million for several cases, including disputes with Zhongyuan Securities[117]. - The company received a warning letter from the Henan Securities Regulatory Bureau regarding inadequate due diligence on long-term prepayments during the listing process of Funike[121]. - The company is facing regulatory scrutiny from the Henan Securities Regulatory Bureau for compliance issues related to its subsidiary Zhongzhou Blue Ocean and its investment practices[120]. - The company has engaged in strategic litigation to recover debts from various parties, demonstrating a proactive approach to financial management[1]. Asset Management and Investment - The company managed a total of CNY 4.194 billion in asset management products, including CNY 2.501 billion in a large collective money market asset management plan and CNY 1.658 billion in seven collective asset management plans[41]. - The company aims to enhance its wealth management capabilities by integrating AI and big data into its service offerings[36]. - The company plans to enhance its asset management scale by deepening the integration of wealth management systems and expanding its product line to meet diverse client needs in the second half of 2024[42]. - The company has consistently strengthened its wealth management, investment banking, and securities self-operated businesses, resulting in strong debt repayment and cash acquisition capabilities[141]. Financial Instruments and Accounting - The company follows the accounting policies and estimates based on actual production and operational characteristics, including revenue recognition and financial instruments[187]. - Financial instruments are recognized at fair value upon initial recognition, with transaction costs accounted for based on the asset classification[193]. - The company recognizes expected credit losses based on a three-stage model, assessing whether credit risk has significantly increased since initial recognition[198]. - The company measures expected credit losses for financial instruments by considering unbiased probability-weighted amounts and the time value of money[198]. Client and Market Engagement - In the first half of 2024, the total number of clients in the securities brokerage business reached 3.055 million, an increase of 2.20% year-on-year[36]. - The company achieved public fund sales of RMB 2.491 billion, representing an increase of 85.00% compared to the same period last year[36]. - The number of new clients in the futures brokerage business was 1,462, with a total client base of 38,300, representing a 13.97% year-on-year increase in corporate clients[56].

医药 分析师：李琳琳 登记编码：S0730511010010 lill@ccnew.com 021-50586983 证券研究报告-行业月报 强于大市(维持) 医药相对沪深 300 指数表现 发布日期：2024 年 04 月 30 日 投资要点： -30% -25% -21% -17% -12% -8% -4% 1% 2023.05 2023.09 2023.12 2024.04 医药 沪深300 资料来源：聚源，中原证券研究所 相关报告 《医药行业月报：关注年报和一季报超预期 相关机会》 2024-02-23 《医药行业月报：行业政策面未发生变化， 建议关注防御属性较强的子板块》 2024-01- 16 《医药行业月报：新版医保目录调整落地， 集采稳步推进 》 2023-12-17 联系人： 马嵚琦 电话： 021-50586973 地址： 上海浦东新区世纪大道 1788 号 16 楼 邮编： 200122 ⚫ 市场行情回顾。2024 年 2 月 20 日至 4 月 29 日，中信生物医药行 业指数上涨 5.84%（按照流通市值加权平均计算），同期沪深 300 上涨 7.59%，（按照流通市值加权平均计算） ...

Financial Performance - The company's operating revenue for Q1 2024 reached RMB 643,976,990.46, representing a year-on-year increase of 38.93%[5] - Net profit attributable to shareholders for the same period was RMB 130,790,222.34, an increase of 85.53% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 126,639,434.81, reflecting a significant increase of 98.49% year-on-year[5] - Basic earnings per share for Q1 2024 were RMB 0.03, up by 50.00% from the same period last year[5] - Total revenue for Q1 2024 reached RMB 643.98 million, a 38.9% increase from RMB 463.52 million in Q1 2023[20] - Net profit for Q1 2024 was RMB 124.25 million, up 87.5% from RMB 66.19 million in Q1 2023[21] - Investment income for Q1 2024 significantly increased to RMB 427.81 million, compared to RMB 135.77 million in Q1 2023, marking a 214.5% rise[20] - Total operating expenses for Q1 2024 were RMB 512.77 million, an increase of 30.6% from RMB 392.61 million in Q1 2023[20] - The company reported a total comprehensive income of RMB 126.43 million for Q1 2024, compared to RMB 50.93 million in Q1 2023[21] - Other comprehensive income after tax attributable to shareholders was RMB 2.18 million for Q1 2024, recovering from a loss of RMB 15.26 million in Q1 2023[21] Assets and Liabilities - The total assets at the end of the reporting period were RMB 49,034,481,893.72, showing a decrease of 5.16% compared to the end of the previous year[5] - As of March 31, 2024, the total assets of the company amounted to ¥49,034,481,893.72, a decrease from ¥51,701,683,772.46 as of December 31, 2023, representing a decline of approximately 5.15%[17] - The total liabilities decreased to ¥34,757,549,210.89 from ¥37,551,184,086.55, indicating a reduction of approximately 7.5%[18] - The company's total liabilities and equity amounted to RMB 49.03 billion as of March 31, 2024, down from RMB 51.70 billion at the end of 2023[19] Shareholder Information - The equity attributable to shareholders increased to RMB 14,035,734,191.30, marking a 0.96% rise from the previous year[5] - The company's total equity attributable to shareholders reached RMB 14.04 billion as of March 31, 2024, up from RMB 13.90 billion at the end of 2023[19] - The number of ordinary shareholders at the end of the reporting period was 123,148, indicating a stable shareholder base[10] - The company has a significant shareholder, 河南投资集团有限公司, holding 822,983,847 shares, which accounts for 22.05% of the total issued shares[14] Cash Flow - The net cash flow from operating activities was RMB 752,016,707.44, with significant cash inflow due to the recovery of investments in financial instruments[5][8] - In Q1 2024, the net cash flow from operating activities was RMB 752,016,707.44, a significant improvement compared to a net outflow of RMB 1,887,075,641.20 in Q1 2023[23] - Total cash inflow from operating activities reached RMB 5,488,737,615.94, up from RMB 3,334,272,374.56 in the same period last year, indicating a growth of approximately 64.5%[23] - The net cash flow from investment activities was negative at RMB 16,746,114.43, a decline from a positive cash flow of RMB 1,067,209,310.84 in Q1 2023[23] - Cash inflow from financing activities totaled RMB 1,468,023,372.70, compared to RMB 3,350,946,699.51 in Q1 2023, reflecting a decrease of about 56.2%[24] - The net cash flow from financing activities was negative at RMB 398,210,473.38, contrasting with a positive cash flow of RMB 1,224,697,087.48 in the previous year[24] - The ending balance of cash and cash equivalents was RMB 13,730,862,030.87, slightly up from RMB 13,703,621,599.81 at the end of Q1 2023[24] - Cash received from interest, fees, and commissions was RMB 471,423,845.79, a slight increase from RMB 462,578,524.04 in Q1 2023[23] - The company reported a decrease in cash paid to employees, totaling RMB 253,849,337.35, down from RMB 502,878,589.89 in the same quarter last year[23] - The cash received from other operating activities increased significantly to RMB 321,129,441.56, compared to RMB 62,412,800.99 in Q1 2023[23] Other Information - The company's cash and cash equivalents increased to ¥11,117,494,031.31 from ¥9,977,189,628.79, reflecting a growth of about 11.43%[17] - The company's short-term financing payables rose to ¥5,146,847,523.85 from ¥4,075,723,383.58, an increase of about 26.4%[18] - The financial investments in trading assets decreased to ¥21,057,245,599.03 from ¥24,271,207,692.01, a decline of approximately 13.3%[18] - The company reported customer deposits of ¥9,276,164,559.03, up from ¥8,158,103,606.55, which is an increase of about 13.7%[17] - The company's derivative financial assets increased significantly to ¥89,774,595.52 from ¥27,910,148.17, marking a growth of approximately 221.5%[17] - The company has engaged in margin financing activities, with notable holdings in various financial instruments, indicating active market participation[15] - The company did not apply new accounting standards or interpretations for the first time in 2024[25]

Financial Performance - Operating revenue for Q1 2024 reached ¥643,976,990.46, an increase of 38.93% compared to the same period last year[5] - Net profit attributable to shareholders was ¥130,790,222.34, reflecting an increase of 85.53% year-on-year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥126,639,434.81, up 98.49% from the previous year, mainly due to increased investment income[5] - Basic earnings per share for the quarter were ¥0.03, a 50.00% increase compared to the same period last year[5] - Diluted earnings per share also stood at ¥0.03, marking a 50.00% increase year-on-year[5] - Net profit for Q1 2024 was ¥124,251,624.04, compared to ¥66,192,766.10 in Q1 2023, indicating an increase of about 87.6%[26] - Total comprehensive income for Q1 2024 was ¥126,432,996.92, compared to ¥50,932,502.41 in Q1 2023, indicating a year-over-year increase of approximately 148.5%[32] Cash Flow - The net cash flow from operating activities was ¥752,016,707.44, with significant cash inflow from the recovery of investments in trading financial instruments[5] - The net cash flow from operating activities for Q1 2024 was ¥752,016,707.44, a significant improvement from a net outflow of ¥1,887,075,641.20 in Q1 2023[28] - The total cash inflow from operating activities in Q1 2024 was ¥5,488,737,615.94, compared to ¥3,334,272,374.56 in Q1 2023, marking a 64.5% increase[28] - The cash outflow from operating activities in Q1 2024 was ¥4,736,720,908.50, down from ¥5,221,348,015.76 in Q1 2023, indicating improved cash management[28] - The net cash flow from investing activities for Q1 2024 was -¥16,746,114.43, a decline from a net inflow of ¥1,067,209,310.84 in Q1 2023[34] - The net cash flow from financing activities for Q1 2024 was -¥398,210,473.38, compared to a net inflow of ¥1,224,697,087.48 in Q1 2023, reflecting a decrease in financing activities[34] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥49,034,481,893.72, a decrease of 5.16% from the end of the previous year[13] - The company's total assets decreased to ¥49,034,481,893.72 from ¥51,701,683,772.46, reflecting a decline of about 5.2%[23] - Total liabilities decreased to ¥34,757,549,210.89 from ¥37,551,184,086.55, a reduction of approximately 7.5%[23] - The company's trading financial assets decreased to approximately ¥21.06 billion from ¥24.27 billion, a decline of 13.67%[21] Shareholder Information - Shareholders' equity attributable to the parent company was ¥14,035,734,191.30, reflecting a slight increase of 0.96% year-on-year[13] - The company's customer funds deposits reached ¥9.28 billion, up from ¥8.16 billion, reflecting a growth of 13.68%[21] - The company reported a total of 1,195,156,550 shares held by Hong Kong Central Clearing Limited, accounting for 25.74% of total shares[16] - Henan Investment Group holds 822,983,847 shares, representing 17.73% of the total shares, with additional holdings through subsidiaries[17] - The company has a total of 123,112 A-share shareholders and 123,148 H-share shareholders as of the reporting period[16] - The company has no significant changes in major shareholders due to the transfer of shares or lending activities during the reporting period[17] Investment and Income - Investment income surged to ¥427,807,610.26 in Q1 2024, up from ¥135,768,106.91 in Q1 2023, marking a growth of approximately 214.5%[26] - The net interest income for Q1 2024 was ¥28,467,598.95, down from ¥39,689,917.61 in Q1 2023, representing a decline of about 28.2%[25] - The net commission and fee income was ¥152,861,490.42, compared to ¥175,921,184.98 in Q1 2023, indicating a decrease of approximately 13.1%[26] - The company's long-term equity investments stood at approximately ¥1.45 billion, slightly increasing from ¥1.44 billion[21] - The company’s derivative financial assets increased significantly to ¥89.77 million from ¥27.91 million, marking a growth of 221.73%[21] Tax and Expenses - The company reported a tax expense of ¥7,171,638.01 for Q1 2024, up from ¥4,756,390.81 in Q1 2023, representing an increase of about 50.8%[26] - The company's total equity increased to ¥14,276,932,682.83 from ¥14,150,499,685.91, reflecting a growth of about 0.9%[23]