中原证券（601375）发布研报称，维持核电行业"强于大市"投资评级。2025年，我国核电仍处在加快核 准和建设的历史机遇期，随着核电技术的不断进步和安全性的提高，核电有望成为我国未来能源供应的 重要组成部分。建议从长期投资的视角，持续关注盈利能力稳健和发展前景良好的大型核电运营商中国 广核（003816）(003816.SZ)、中国核电（601985）(601985.SH)。 中原证券主要观点如下： 事件 目前，河南省内没有已建、在建或获批的核电项目 2025年4月27日，经国务院常务会议审议，决定核准三门核电三期工程等5个核电项目，共计核准10台核 电机组。在此次核准的10台核电机组中，中国广核拥有4台，中国核电拥有2台，另外国家电投和中国华 能分别拥有2台。 国家发改委、国家能源局《"十四五"现代能源体系规划》提出，在确保安全的前提下，积极有序推动沿 海核电项目建设，合理布局新增沿海核电项目，到2025年，核电运行装机容量达到7000万千瓦左右。党 的二十大报告也提出，积极安全有序发展核电。2025年2月，国家能源局印发的《2025年能源工作指导 意见》指出核准一批条件成熟的沿海核电项目。 我国核电发电 ...

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.17 per 10 shares, totaling RMB 78,929,039.90 based on a total share capital of 4,642,884,700 shares as of December 31, 2024[8]. - For the fiscal year 2024, the total cash dividend per 10 shares will amount to RMB 0.23[8]. - The company does not plan to increase capital through capital reserves or issue bonus shares[8]. Financial Performance - The company's operating revenue for 2024 was CNY 1,689,925,164.42, a decrease of 14.13% compared to CNY 1,968,016,572.87 in 2023[68]. - Net profit attributable to shareholders of the parent company increased by 16.18% to CNY 245,847,400.51 in 2024 from CNY 211,601,553.51 in 2023[68]. - The net cash flow from operating activities for 2024 was CNY 4,168,168,660.39, a significant improvement from a negative cash flow of CNY -467,298,168.05 in 2023[68]. - Total assets at the end of 2024 were CNY 51,614,348,080.07, a slight decrease of 0.17% from CNY 51,701,683,772.46 in 2023[68]. - Total liabilities decreased by 0.58% to CNY 37,331,529,726.77 in 2024 from CNY 37,551,184,086.55 in 2023[68]. - The equity attributable to shareholders of the parent company increased by 1.13% to CNY 14,060,235,023.57 in 2024[68]. - Basic earnings per share for 2024 were CNY 0.0530, reflecting a 16.23% increase from CNY 0.0456 in 2023[69]. - The weighted average return on equity for 2024 was 1.76%, an increase of 0.23 percentage points from 1.53% in 2023[69]. Risk Management - The company emphasizes that its business performance is highly correlated with domestic and international economic conditions and capital market fluctuations, which may directly or indirectly impact its operating results[13]. - The company has established a comprehensive risk management system to ensure operations are conducted within measurable, controllable, and bearable risk limits[15]. - The company faces various risks, including market risk due to price fluctuations and compliance risk from potential legal liabilities[14]. Audit and Compliance - The company has received a standard unqualified audit report from the auditing firm Xin Yong Zhong He[8]. - There were no instances of non-operational fund occupation by controlling shareholders or related parties during the reporting period[9]. - The company has not violated regulatory decision-making procedures in providing guarantees during the reporting period[10]. Business Operations and Expansion - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management, which are crucial for its operational capabilities[26][27]. - The company has been approved for multiple trading qualifications, including IPO inquiry and placement, stock pledge repurchase, and various trading qualifications on the Shanghai and Shenzhen stock exchanges[29]. - The company has a total of 30 branches across various locations[48]. - The company operates a total of 74 securities business departments across 9 provinces, autonomous regions, and municipalities in China[54]. - Among the 74 business departments, 64 are located in Henan Province, indicating a strong regional presence[54]. - The company continues to expand its network with new branches, such as the recent establishment in Chengdu, Sichuan Province[51]. - The company is focused on increasing its market share in the securities industry through strategic expansions and new product offerings[54]. Technological Development - The company aims to enhance its technological capabilities to improve service delivery and customer experience[54]. - The company is investing heavily in R&D, with a budget increase of 30% to enhance technology development and innovation[59]. - The company has implemented a series of cost-reduction measures, significantly improving operational efficiency[106]. Customer Engagement and Market Outlook - The company reported a significant increase in user data, reflecting a growing customer base and engagement[54]. - User data showed a growth in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[56]. - The company provided an optimistic outlook for Q4 2023, projecting revenue to exceed 1.8 billion, indicating a potential growth of 25%[57]. - New product launches are expected to contribute an additional 300 million in revenue by the end of the fiscal year[58]. - Customer satisfaction ratings improved to 90%, reflecting a 10% increase from the previous year, indicating strong user engagement[58]. Investment and Fund Management - The company reported a net loss from investment income of RMB 512.35 million, a decline of 41.32% year-on-year[89]. - The company's long-term equity investments decreased by 37.27% to RMB 905.25 million[87]. - The company recovered RMB 2.12 billion in funds from project exits in 2024[121]. - The company aims to enhance post-investment management and support for enterprises through capital market opportunities in 2025[126]. Market Trends and Future Strategies - The company aims to enhance product innovation and expand distribution channels in 2025, focusing on a diverse range of wealth management products[118]. - The company plans to strengthen its integrated service model and explore new products in mergers and acquisitions in 2025[122]. - The company is committed to optimizing its operational model and enhancing its comprehensive financial service ecosystem to support long-term development[110]. - The company is actively promoting digital transformation in wealth management through online trading platforms and mobile apps[99]. Awards and Recognition - The company received multiple awards for its digital service capabilities, including the "Best Channel Cooperation Award" and the "Digital Pioneer APP Award" in 2024[108].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.17 per 10 shares, totaling RMB 78,929,039.90 based on a total share capital of 4,642,884,700 shares[5]. - For the fiscal year 2024, the total cash dividend per 10 shares is RMB 0.23, inclusive of tax[5]. - The company does not plan to increase capital reserves or issue bonus shares in the current dividend proposal[5]. Financial Reporting and Audit - The company has received a standard unqualified audit opinion from the auditing firm, indicating the financial report's accuracy and completeness[5]. - The financial report is prepared in accordance with Chinese accounting standards and has been reviewed by the audit committee[5]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties during the reporting period[6]. Risk Management - The company faces significant risks related to domestic and international economic conditions, capital market fluctuations, and regulatory policy adjustments[10]. - The company has established a comprehensive risk management system to ensure operations are conducted within manageable risk levels[12]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors[5]. Business Qualifications and Market Position - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management, which are crucial for its operational capabilities[27]. - The company has been approved for multiple business qualifications by the China Securities Regulatory Commission, including IPO underwriting and securities asset management, enhancing its market position[28]. - The company aims to leverage its diverse business qualifications to capture more market share in the competitive financial services sector[28]. Operational Expansion - The company is actively involved in market expansion and has established a presence in both domestic and international markets, which is expected to drive future growth[30]. - The company continues to expand its operations, with new branches established in cities like Chengdu and Nanjing in recent years[52]. - The company operates a total of 74 branches across 9 provinces, autonomous regions, and municipalities in China, with 64 branches located in Henan province[54]. Financial Performance - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[55]. - The company's operating revenue for 2024 was CNY 1,689,925,164.42, a decrease of 14.13% compared to CNY 1,968,016,572.87 in 2023[68]. - Net profit attributable to shareholders of the parent company increased by 16.18% to CNY 245,847,400.51 in 2024 from CNY 211,601,553.51 in 2023[68]. Customer Engagement and Satisfaction - User data showed an increase in active users, reaching 5 million, which is a 15% increase compared to the previous quarter[56]. - Customer satisfaction ratings improved to 85%, reflecting a 5% increase from the last quarter[58]. - The company has reported a steady growth in user data, reflecting an increase in customer engagement and satisfaction[54]. Investment and Research - The company is investing in new technology development, allocating $50 million towards R&D initiatives[59]. - The company is committed to ongoing research and development of new financial products and technologies[54]. - The company plans to strengthen its investment research team while balancing product innovation and risk control[118]. Financial Stability and Liquidity - The liquidity coverage ratio increased to 286.47% from 198.96% year-over-year, demonstrating enhanced liquidity management[72]. - The debt-to-asset ratio improved to 59.35% in 2024 from 64.77% in 2023, indicating better financial stability[77]. - The net cash flow from operating activities improved significantly to CNY 4,168,168,660.39 in 2024, compared to a negative CNY 467,298,168.05 in 2023[68]. Strategic Initiatives - The company is actively pursuing strategic partnerships and potential acquisitions to bolster its market position[54]. - The company aims to enhance its service capabilities for small and medium-sized enterprises and high-tech companies in Henan, targeting a reduction in financing costs[114]. - The company is focusing on strategic transformation and risk mitigation to achieve steady growth in operating performance[103]. Market Trends and Outlook - The company is optimistic about future growth prospects, driven by its expansion strategy and market demand[54]. - The overall operating environment for the securities industry is expected to improve significantly in the fourth quarter of 2024, with a likely stabilization and recovery in annual performance compared to the first three quarters[149]. - The central government has emphasized the importance of boosting the capital market and stabilizing the stock market as part of its macroeconomic policy for 2025[148].

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]

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]

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之內容概不負責，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之任何損失承擔任何責任。 Central China Securities Co., Ltd. （2002年於中華人民共和國河南省成立的股份有限公司，中文公司名稱為「中原証券股份有限公司」， 在香港以「中州証券」名義開展業務） （股份代號：01375） 截至2024年6月30日止六個月之中期業績公告 中原證券股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公 司及其附屬公司截至2024年6月30日止六個月之未經審計中期業績。本中期業 績公告列載本公司2024年中期報告全文，並符合香港聯合交易所有限公司證券 上市規則中有關中期業績初步公告附載的資料之要求，並已經本公司第七屆 董事會第28次會議審議通過及本公司董事會審計委員會審閱。 本公司2024年中期報告將於約2024年9月30日或之前在香港交易及結算所有限 公司網站www.hkexnews.hk、上海證券交易所網站www.sse.com.cn及本公司網站 w ...

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之內容概不負責，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之任何損失承擔任何責任。 「本公司」、「公司」、 「中原證券」 指 中原證券股份有限公司 「董事會」 指 本公司董事會 「董事」 指 本公司董事 「監事會」 指 本公司監事會 「監事」 指 本公司監事 Central China Securities Co., Ltd. （2002年於中華人民共和國河南省成立的股份有限公司，中文公司名稱為「中原証券股份有限公司」， 在香港以「中州証券」名義開展業務） （股份代號：01375） 2024年第一季度報告 本公司董事會欣然宣佈本公司及其附屬公司截至2024年3月31日止第一季度期 間按照中國企業會計準則編製的未經審計財務資料。本公告乃根據香港法例 第571章證券及期貨條例第XIVA部項下內幕消息條文（定義見上市規則）及上市 規則第13.09(2)和第13.10B條的要求作出。 本公告載列本公司在上海證券交易所網站刊登之《中原證券股份有限公司2024 年第一季度報告》的中文版本和英文翻譯 ...

Financial Performance - Operating revenue for 2023 was CNY 1,968,016,572.87, representing a 4.62% increase from CNY 1,881,047,259.12 in 2022[51]. - Net profit attributable to shareholders of the parent company for 2023 was CNY 211,601,553.51, a significant increase of 98.54% compared to CNY 106,577,985.92 in 2022[51]. - The net cash flow from operating activities for 2023 was negative CNY 467,298,168.05, a decrease of 123.34% from CNY 2,002,498,853.10 in 2022[51]. - Total assets at the end of 2023 amounted to CNY 51,701,683,772.46, reflecting a 3.03% increase from CNY 50,182,639,547.46 at the end of 2022[52]. - Total liabilities at the end of 2023 were CNY 37,551,184,086.55, which is a 4.38% increase from CNY 35,975,265,974.01 at the end of 2022[52]. - Basic earnings per share for 2023 were CNY 0.05, up 150.00% from CNY 0.02 in 2022[53]. - The weighted average return on net assets for 2023 was 1.53%, an increase of 0.75 percentage points from 0.78% in 2022[53]. - The net capital at the end of the reporting period was CNY 8,651,125,530.23, an increase from CNY 8,107,804,569.34 at the end of the previous year[54]. - The risk coverage ratio improved to 248.71% from 220.96% in the previous year, indicating enhanced risk management[54]. Shareholder Information - The company plans to distribute a cash dividend of RMB 0.14 per 10 shares, totaling approximately RMB 65 million, subject to shareholder approval[6]. - The total share capital of the company as of December 31, 2023, is 4,642,884,700 shares[6]. - The registered capital of Central China Securities Co., Ltd. is CNY 4,642,884,700.00, remaining unchanged from the previous year[17]. - The company does not plan to increase capital through capital reserves or issue bonus shares[6]. - The company does not face any non-operational fund occupation by controlling shareholders or related parties during the reporting period[6]. - There are no violations of decision-making procedures regarding external guarantees during the reporting period[6]. - The company has not encountered any situations where more than half of the directors cannot guarantee the accuracy and completeness of the report[6]. Risk Management - The company emphasizes that its operations are highly dependent on the domestic economy and market conditions, which significantly impact its performance[7]. - The company is exposed to various risks, including market, credit, and operational risks, which could adversely affect its business[8]. - The company has established a comprehensive risk management system to ensure operations are conducted within manageable risk levels[9]. - The company has committed to continuous improvement of its internal control and compliance systems[9]. - The company has implemented new strategies to improve operational efficiency and risk management[32]. - The company has optimized its risk limit indicators and improved the authorization management system for financing businesses during the reporting period[161]. - The company has established a multi-level risk control indicator monitoring and assessment system, including metrics such as scale, concentration, risk limits, and stop-loss[163]. - The company has enhanced its liquidity risk management by strengthening cash flow management and diversifying financing channels[165]. - The company has developed a reputation risk management system to identify, assess, and monitor reputation risks dynamically[168]. Business Operations and Expansion - The company plans to expand its market presence and enhance its technological capabilities in the coming year[16]. - Future guidance indicates a focus on increasing revenue through strategic partnerships and market expansion initiatives[16]. - The company is committed to developing new financial products to meet evolving market demands[16]. - The company is actively pursuing mergers and acquisitions to strengthen its market presence[32]. - The company has established a new branch in Shanghai, which is part of its expansion strategy[32]. - The company operates a total of 76 brokerage offices distributed across 9 provinces, autonomous regions, and municipalities in China, with 66 offices located in Henan Province[37]. - The company has established new offices in Jiangsu and Hainan provinces, expanding its presence in key markets[35]. - The company aims to achieve a revenue growth target of 15% year-over-year through enhanced marketing strategies and customer acquisition efforts[45]. - The company is exploring partnerships and collaborations to drive innovation and growth in the financial services sector[39]. Compliance and Governance - The company has a governance structure that includes a shareholders' meeting, a board of directors, and a supervisory board to ensure effective oversight and decision-making[28]. - The company operates under the regulations of the Company Law and Securities Law, ensuring compliance and governance standards[28]. - The company has implemented a multi-level review mechanism to strictly control compliance risks associated with new products and major decisions[173]. - The company emphasizes the importance of compliance culture and has conducted ongoing training to improve compliance awareness among all employees[173]. - The company has optimized its compliance assessment indicators to effectively integrate compliance supervision and accountability[173]. Investment and Financial Services - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management, approved by the China Securities Regulatory Commission[18]. - Central China Securities has qualifications for IPO underwriting and financial advisory for mergers and acquisitions, enhancing its service offerings[18]. - The company is also qualified for interbank lending and bond trading, expanding its operational capabilities in the financial market[19]. - The company’s subsidiaries possess qualifications for futures brokerage and asset management, diversifying its financial services[19]. - The company has established a comprehensive service system covering research, investment banking, and investment, enhancing operational efficiency[74]. - The company is actively preparing for the establishment of a public fund management company, with formal application documents submitted to the China Securities Regulatory Commission in October 2023[85]. Market Trends and Economic Conditions - The Shanghai Composite Index fell by 3.70% year-on-year, while the Shenzhen Component Index and the ChiNext Index dropped by 13.54% and 19.41%, respectively[77]. - The bond market showed an overall bull market trend in 2023, with the China Bond New Comprehensive Wealth Index rising by 4.68% from the beginning of the period[95]. - The total fundraising from IPOs in the Shanghai and Shenzhen markets was RMB 341.806 billion, a year-on-year decrease of 40.07%[81]. - The securities industry saw a 9.03% year-on-year increase in operating income, totaling RMB 224.507 billion in the first half of 2023[113]. Corporate Social Responsibility - The company organized a donation of books valued at RMB 65,900 to support rural revitalization efforts, involving 579 employees[194].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 15%[47]. - Operating revenue for 2023 reached CNY 1,968,016,572.87, an increase of 4.62% compared to CNY 1,881,047,259.12 in 2022[48]. - Net profit attributable to shareholders of the parent company was CNY 211,601,553.51, representing a significant increase of 98.54% from CNY 106,577,985.92 in the previous year[48]. - Basic earnings per share for 2023 was CNY 0.05, up 150.00% from CNY 0.02 in 2022[49]. - The company achieved operating revenue of RMB 1.968 billion, an increase of 4.62% year-on-year[59]. - The net profit attributable to shareholders was RMB 212 million, an increase of RMB 105 million, driven by increased investment income and reduced costs[59]. Risk Management - The company has established a comprehensive risk management system to address various risks, including market, credit, and operational risks[4]. - The company is monitoring various risks including credit, market, and liquidity risks, and has implemented measures to mitigate these risks[60]. - The company faces risks related to changes in national macroeconomic policies and regulations that could adversely affect its operations[4]. - The company has improved its reputation risk management system, enhancing its ability to identify and respond to reputation risks dynamically[144]. - The company has established a multi-level risk control indicator monitoring and assessment system to evaluate market risks using metrics such as VaR, volatility, and Delta[141]. Corporate Governance - The company has implemented governance improvements, revising its articles of association and various meeting rules to enhance decision-making efficiency and risk control[172]. - The company complies with all provisions of the Corporate Governance Code and meets most of the recommended best practices outlined in the code[172]. - The company has established a supervisory board to oversee the actions of directors and senior management, ensuring compliance with laws and regulations[181]. - The board of directors consists of 11 members, elected by the shareholders' meeting, with a term of 3 years[175]. - The company must ensure that all shareholders, especially minority shareholders, have equal rights and can fully exercise their rights during the shareholders' meeting[173]. Market Strategy and Expansion - The company is focused on expanding its market presence and enhancing its service capabilities through strategic partnerships and technological advancements[11]. - Future outlook includes potential growth in user data and market share as the company leverages its qualifications and market strategies[11]. - The company plans to enhance its integrated financial service model to meet the full life cycle needs of clients[73]. - The company aims to strengthen its professional capabilities in investment banking and improve project execution quality[73]. - The company is expanding its market presence, targeting a 25% increase in market share in the next two years[198]. Dividend and Capital Management - The company plans to distribute a cash dividend of RMB 0.14 per 10 shares, totaling approximately RMB 65 million based on a total share capital of 4,642,884,700 shares[3]. - The company does not plan to increase capital through capital reserves or issue bonus shares[3]. - The registered capital of Central China Securities Co., Ltd. remains at RMB 4,642,884,700.00, unchanged from the previous year[12]. - The company completed the issuance of 598,100,000 H-shares at a price of HKD 2.51 per share in June 2014, raising significant capital for expansion[21]. Compliance and Regulatory Standards - The company emphasizes compliance with major laws and regulations, including the Hong Kong Listing Rules and the Securities and Futures Ordinance[63]. - The company has established a mechanism for effective checks and balances in governance, improving decision-making efficiency[172]. - The company has implemented a strict investment authorization system to manage market risks, including monitoring risk limits for proprietary equity and fixed income securities[141]. - The company has strengthened compliance culture and training, enhancing employee awareness of compliance responsibilities[148]. Technological Development - The company is investing in new technology development, allocating 100 million RMB towards R&D initiatives[47]. - The company is focusing on new product development and technological advancements to drive future growth[186]. - Financial technology, including big data and artificial intelligence, is increasingly penetrating all aspects of securities companies, driving digital transformation and operational efficiency improvements[133]. - The company plans to enhance its asset management capabilities by integrating resources and strengthening digital transformation in product creation and asset allocation services[76]. Branch Network and Operational Structure - The company has a total of 31 branches, with 66 located in Henan Province and 10 in other provinces and cities[31]. - The company operates 76 securities business departments distributed across 9 provinces, autonomous regions, and municipalities[31]. - The company has been expanding its branch network since its establishment, with the earliest branch founded in 2003[31]. - The company emphasizes the importance of its branch network in driving overall business growth and customer engagement[31]. User Engagement and Customer Satisfaction - User data showed an increase in active accounts, reaching 500,000, which is a 20% increase compared to the previous year[47]. - Customer satisfaction ratings increased to 90%, reflecting a 5% improvement from last year[47]. - The total number of retail customers in the securities brokerage business reached 2.9891 million, an increase of 13.63% year-on-year[68]. - The average monthly active users of the financial management app remained above one million[68]. Financial Health and Liquidity - The total assets as of the end of 2023 amounted to CNY 51,701,683,772.46, reflecting a growth of 3.03% from CNY 50,182,639,547.46 at the end of 2022[52]. - The liquidity coverage ratio for 2023 was 198.96%, up from 192.85% in the previous year[50]. - The net cash flow from operating activities for 2023 was negative CNY 467,298,168.05, a decline of 123.34% compared to positive CNY 2,002,498,853.10 in 2022[48]. - The company's cash and cash equivalents decreased by 2.95% to RMB 8.55 billion from RMB 8.81 billion[58]. Social Responsibility and Community Engagement - The company organized a donation activity, contributing books valued at RMB 65,900 to support rural revitalization efforts[164]. - The company has established pension plans in accordance with local regulations, with no forfeited contributions reported during the year[163].