智通财经APP讯，中泰期货(01461)发布公告，钟金龙先生于2025年6月13日向董事会提交了辞职报告， 因到龄退休，申请辞去公司第四届董事会董事长、执行董事、董事会战略发展委员会主席及委员职务。 钟金龙先生的辞任自辞职报告送达公司董事会时生效。 股东周年大会上已通过批准委任吕祥友先生为公司非职工代表董事(执行董事)，吕祥友先生的委任自股 东周年大会日期(即2025年6月13日)起至公司第四届董事会届满时为止，任期届满可以连选连任。 董事会于2025年6月13日通过关于委任吕祥友先生为公司董事长的议案，据此，吕祥友先生获委任为公 司董事长，任期自2025年6月13日起至第四届董事会任期届满时为止，任期届满可以连聘连任。 董事会已于2025年6月13日通过关于选举吕祥友先生担任董事会战略发展委员会主席及委员的议案，公 司谨此批准选举吕祥友先生为董事会战略发展委员会主席及委员，任期自2025年6月13日起至公司第四 届董事会届满时为止，任期届满可以连聘连任。 梁中伟先生因工作调整提出辞任董事会提名委员会委员的职务。梁中伟先生之前述辞任自2025年6月13 日起生效。梁中伟先生在公司担任的董事及其他董事会专门委员 ...

河南省兰考县总面积1103平方公里，常住人口约77万，是中国证监会定点帮扶县。多年来，兰考县因地 制宜培育壮大乡村富民产业，突出产业特色，打造花生等"一村一品"，带动群众持续增收。为深化党建 引领，服务乡村振兴战略，5月30日，中泰期货第二党支部与兰考县三义寨乡党委联合开展"党建共建促 发展 金融服务乡村振兴"党建共建活动。 交流会后，中泰期货第二党支部的志愿者面向当地党员代表、群众及涉农企业代表等进行了"保险+期 货"金融知识宣讲，系统讲解了"保险+期货"的运作机制、优势特点及成功案例，帮助当地农户和涉农企 业掌握"保险+期货"管理农产品价格风险的有效方法，为稳产增收提供金融保障。宣讲反响热烈，现场 互动积极。白云山村党支部书记、第十四届全国人大代表陈保超在总结讲话中对中泰期货给予当地的关 心资助、结对帮扶表示衷心感谢，并高度肯定了中泰期货第二党支部送金融知识进乡村、送专业服务到 田间专业精神，为农户和企业提供了实实在在的风险管理工具，充分体现了中泰期货作为金融机构服 务'三农'的责任担当。 本次共建活动，不仅加强了党组织间的联系，更将金融专业力量精准服务乡村，为三义寨乡发展注入了 新动能。中泰期货第二党支 ...

中证智能财讯 中泰期货（01461）4月30日披露2024年度报告。报告期内，公司实现营业总收入18.51亿元，同比下降14.03%；归母净利润452.98万元，同比 下降96.61%；经营活动产生的现金流量净额为18.83亿元，同比下降34.02%；据报告显示，中泰期货基本每股收益为0.0045元，加权平均净资产收益率为 0.18%。 以4月30日收盘价计算，中泰期货目前市盈率（TTM）约101.39倍，市净率（TTM）约0.18倍，市销率（TTM）约0.25倍。 001 900 96.51 80 84055 70 63d9 60 50 46.48 40 30 26-11 20 13o57 10 lyat 3.05 0 2019-12-37 1 2021-12-37 ' 2-06-30 J-12-37 0-06-3C -12-37 1 2n- 制图数据来自恒生聚源数据库 市净率(LF)历史分位(%) 100 ଛି ୨୦ 80 70 60 52 66 50 4469 43.8 40 34a71 30 24.94 23.42 24x5 20 10 1745 0 2019-12-37 1 2021-12-37 ' ...

Financial Performance - The company reported a total revenue of HKD 1.2 billion for the fiscal year 2024, representing a 15% increase compared to the previous year[3]. - The company reported a significant increase in revenue, reaching RMB 40.36 million, up from RMB 20 million in the previous period, indicating a growth of 101.8%[20]. - The company's operating revenue for 2024 was RMB 185,118 million, a decrease of 14.03% compared to RMB 215,323 million in 2023[55]. - Total profit for 2024 was RMB 829 million, down 95.43% from RMB 18,143 million in 2023[55]. - Net profit attributable to shareholders for 2024 was RMB 453 million, a decline of 96.61% from RMB 13,372 million in 2023[55]. - Basic earnings per share for 2024 decreased to RMB 0.005, a decline of 96.61% compared to RMB 0.134 in 2023[57]. - The total comprehensive income attributable to the parent company was RMB 504 million, down from RMB 13,404 million in the previous year[104]. - The group reported a financial asset loss of RMB 2,858 million, a significant decrease of 174.19% compared to a profit of RMB 3,853 million in 2023[112]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2026[3]. - A strategic acquisition of a local competitor was completed for HKD 300 million, expected to enhance market capabilities[3]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic investments and partnerships[20]. - The company has established multiple branches across various cities, enhancing its market presence and operational reach[29]. - The company’s operational strategy includes market expansion through new branch openings and service diversification[37]. Risk Management - The company is highly sensitive to domestic and international economic conditions, with potential risks including market risk, liquidity risk, credit risk, operational risk, and compliance risk[11]. - The company has implemented measures to mitigate risks by optimizing organizational structure and establishing comprehensive systems[11]. - The company aims to enhance risk management quality and strengthen compliance and risk control management[68]. - The company has established a systematic investment management mechanism to enhance financial market analysis and requires due diligence before new investment projects[161]. - A comprehensive risk management system is established, covering all departments and subsidiaries, to identify, assess, monitor, and report risks[156]. Employee Development and Training - Employee training programs were expanded, with a 40% increase in participation rates compared to the previous year[3]. - The company emphasized the importance of attracting and retaining talent through competitive compensation and comprehensive training programs[140]. - The company aims to enhance its brokerage business transformation and improve service capabilities through a comprehensive training program[94]. Awards and Recognition - The company received several industry awards, including "Best Futures Company" for the third consecutive year[3]. - The company received multiple awards in 2024, including "Best Futures Company" and "Best Financial Futures Service Award" at the 17th China Best Futures Operating Institution Awards[45]. - The company was recognized for its outstanding performance in anti-money laundering efforts in Shandong Province[49]. Financial Position - Total assets as of December 31, 2024, were RMB 3,375,714 million, an increase of 12.05% from RMB 3,012,639 million in 2023[56]. - Total liabilities as of December 31, 2024, were RMB 3,120,584 million, up 13.20% from RMB 2,756,610 million in 2023[56]. - The company's equity attributable to shareholders was RMB 255,130 million as of December 31, 2024, a slight decrease of 0.35% from RMB 256,029 million in 2023[56]. - The debt-to-asset ratio improved to 41.87% in 2024 from 45.48% in 2023, a reduction of 3.61 percentage points[57]. Social Responsibility - The company has actively engaged in rural revitalization projects, providing over RMB 2 billion in risk protection through 170 projects nationwide[65]. - The company signed "pairing assistance agreements" with 26 rural revitalization areas, launching over 170 "insurance + futures" projects, covering 10 varieties including pigs, corn, and soybean meal, with an insurance coverage amount of approximately RMB 2.135 billion[189]. - The company has been recognized with several awards for its contributions to rural revitalization and financial innovation in 2023[188]. Governance and Compliance - The company has a dedicated investor relations team to facilitate communication and transparency with stakeholders[17]. - The company is committed to adhering to regulatory requirements and maintaining compliance to safeguard its operations[11]. - The company has established a net capital risk assessment and monitoring system to continuously monitor regulatory indicators related to net capital[164]. - The company has a comprehensive compliance management system with a Chief Risk Officer responsible for risk management and internal control compliance[166].

Financial Performance - Zhongtai Futures reported a comprehensive annual performance for the year ending December 31, 2024, with audited figures compared to the same period in 2023[2]. - Revenue for 2024 decreased to RMB 185,118 million, a decline of 14.03% compared to RMB 215,323 million in 2023[72]. - Total profit for 2024 was RMB 829 million, down 95.43% from RMB 18,143 million in 2023[72]. - Net profit attributable to shareholders for 2024 was RMB 453 million, a decrease of 96.61% from RMB 13,372 million in 2023[72]. - Total assets increased to RMB 3,375,714 million, reflecting a growth of 12.05% from RMB 3,012,639 million in 2023[73]. - Total liabilities rose to RMB 3,120,584 million, an increase of 13.20% compared to RMB 2,756,610 million in 2023[73]. - Basic earnings per share for 2024 dropped to RMB 0.005, a decline of 96.61% from RMB 0.134 in 2023[75]. - The weighted average return on equity for 2024 was 0.18%, down 5.15 percentage points from 5.33% in 2023[75]. - The debt-to-asset ratio improved to 41.87%, a decrease of 3.61 percentage points from 45.48% in 2023[75]. Capital Structure and Investments - The company reported a registered capital increase to RMB 3,082 million as of June 21, 2004, following multiple rounds of investment[25]. - The registered capital of the company increased to RMB 5,000 million after the restructuring and capital increase on September 13, 2006[26]. - The registered capital of the company reached RMB 20,000 million following a capital increase of RMB 15,000 million on August 22, 2007[28]. - The registered capital further increased to RMB 40,362.38 million after additional capital injections in 2010[29]. - As of June 30, 2011, the registered capital was RMB 52,000 million after a capital increase of RMB 11,430.28 million[32]. - The registered capital was raised to RMB 64,000 million following a capital increase on September 26, 2012[32]. - The registered capital increased to RMB 100,190 million as of September 17, 2015, with a shareholding structure detailed[34]. Market Position and Operations - The company has a significant presence in the futures market, with operations in various Chinese futures exchanges[17]. - The company has a strategic focus on market expansion and product development to enhance its competitive position[17]. - The company operates a total of 32 futures branches as of the end of the reporting period[41]. - The newly established Shenzhen Futian branch commenced operations on March 21, 2024[49]. - The company reported a significant expansion in its branch network, including new locations in Zhengzhou and Baoding set to open in 2024[49]. - The company has a presence in major cities such as Shanghai, Beijing, and Guangzhou, enhancing its market reach[41][44]. Risk Management - The company has implemented measures to mitigate risks, including optimizing organizational structure and establishing comprehensive systems[17]. - The company faces various risks including market risk, credit risk, liquidity risk, operational risk, and compliance risk[196]. - Market risk primarily includes equity asset price risk, commodity futures price risk, options pricing risk, hedging risk, and interest rate risk[197]. - Credit risk mainly involves default risk and delivery risk[197]. - The company has established a comprehensive risk management framework covering all departments and subsidiaries[200]. - The company aims to enhance risk management quality and strengthen compliance and risk control management to solidify its competitive advantages[88]. Corporate Governance and Social Responsibility - The company is committed to fulfilling its social responsibilities and maintaining good corporate governance practices[7]. - Continuous optimization of corporate governance structure to enhance governance capabilities[199]. - The organizational structure includes a board of directors, supervisory board, and management team, ensuring compliance with relevant laws and regulations[38]. Employee and Training Initiatives - There will be a focus on employee structure, compensation, and training to improve workforce capabilities[6]. - The company has a total of 758 employees, with 41.16% in marketing roles[37]. - Employee training programs have been enhanced, focusing on various skills and compliance training to improve overall workforce capabilities[181]. - The company has implemented a competitive compensation system based on market levels and performance evaluations to attract and retain talent[180]. Technological Advancements - The company aims to enhance its information technology infrastructure to support operational efficiency[6]. - The company is committed to technological advancements in financial services through its fintech management headquarters[41]. - The company is focused on digital transformation, enhancing its marketing service system and data governance through the development of various proprietary systems[121]. Awards and Recognition - In 2024, the company received multiple awards including "Best Futures Company" and "Best Financial Futures Service Award" at the 17th China Best Futures Operating Institution selection[61]. - The company was recognized for its outstanding performance in market-making business by the Shanghai Futures Exchange in 2023[62]. Financial Data and Reporting - The company reported its financial data according to the accounting standards issued by the Ministry of Finance of China[70]. - The company's total operating revenue for the reporting period was RMB 1,851.18 million, a decrease of 14.03% compared to RMB 2,153.23 million in 2023[130]. - Net profit attributable to shareholders was RMB 4.53 million, a significant decline of 96.61% from RMB 133.72 million in 2023[130]. - Total assets increased by 12.05% to RMB 33,757 million from RMB 30,126 million at the end of 2023[131]. - Total liabilities rose by 13.20% to RMB 31,206 million compared to RMB 27,566 million at the end of 2023[131].

官 FUTURES ZHONGTAI FUTURES Company Limited 中泰期貨股份有限公司 ( 在中華人民共和國註冊成立的股份有限公司 ) (股份代號：01461) 中 前 目 錄 釋 義 2 公司資料 4 財務概要 6 管理層討論與分析 8 一、 報告期內經濟環境 8 二、 報告期內期貨市場狀況 10 三、 總體經營情況 12 四、 主要業務情況分析 13 五、 信息技術建設 15 六、 下半年發展計劃 16 七、 流 動資金、財務資源和資本結構 16 八、 本集團重大融資情況 17 九、 本集團重大投資情況 17 十、 重大資產收購、出售及對外擔保、抵押、質押和 重大或有負債 17 十一、 僱員、薪酬政策及培訓情況 18 十二、 可能面臨的風險、不確定性及應對措施 19 企業管治報告 25 遵 守《企 業 管 治 守 則》 25 董事、監事及高級管理人員的證券交易 25 獨立非執行董事 25 審計委員會 26 董事就財務報表所承擔的責任 26 其他資料 27 報告期後重大事項 27 股 本 27 中期業績的刊發 27 中期股息 27 購 入、出售或贖回上市證券 27 | --- | --- ...

Financial Performance - The unaudited consolidated interim results for the six months ended June 30, 2024, were announced, with a comparison to the same period in 2023[1]. - Operating revenue for the first half of 2024 was RMB 83,320 million, a slight increase of 1.19% compared to RMB 82,338 million in the same period of 2023[8]. - Total profit for the first half of 2024 decreased significantly to RMB 182 million, down 98.06% from RMB 9,387 million in the previous year[8]. - Net profit attributable to shareholders was RMB 59 million, representing a 99.12% decline from RMB 6,813 million year-on-year[8]. - The company reported a basic earnings per share of RMB 0.0006, down 99.12% from RMB 0.0680 in the same period last year[8]. - The company reported a net loss from investments of RMB 133,535,498.57, compared to a loss of RMB 20,068,492.33 in the previous year[68]. - The company's total comprehensive income attributable to shareholders for the first half of 2024 was RMB 755,455.16, compared to RMB 68,858,969.30 in the previous year[69]. - The net profit for the first half of 2024 was RMB 590,868.22, a decrease of 13.5% from RMB 68,131,668.24 in the same period of 2023[68]. Assets and Liabilities - Total assets as of June 30, 2024, reached RMB 3,369,944 million, reflecting an 11.86% increase from RMB 3,012,639 million at the end of 2023[9]. - Total liabilities increased to RMB 3,115,242 million, marking a 13.01% rise from RMB 2,756,610 million at the end of 2023[9]. - The company's equity attributable to shareholders was RMB 254,702 million, a slight decrease of 0.52% from RMB 256,029 million at the end of 2023[9]. - The asset-liability ratio decreased by 1.30 percentage points to 44.18% from 45.48% at the end of 2023[19]. - Total liabilities reached RMB 31,152,415,724.54, up from RMB 27,566,098,522.22, indicating an increase of around 12.5%[64]. - The total equity of the company rose to RMB 2,593,675,812.69, an increase of 2.6% from RMB 2,527,750,121.00 at the end of 2023[66]. Cash Flow - The net cash flow from operating activities surged to RMB 179,713 million, an increase of 482.12% compared to RMB 30,872 million in the same period last year[8]. - Cash flow from operating activities generated a net amount of RMB 1,797,129,575.34, significantly higher than RMB 308,721,313.06 in the first half of 2023[73]. - The company reported a total cash inflow from operating activities of RMB 4,870,810,659.85, compared to RMB 2,658,014,693.79 in the same period last year[73]. - The net cash flow from investment activities was negative at RMB -6,789,822.59, an improvement from RMB -867,971.54 in the first half of 2023[76]. - The ending balance of cash and cash equivalents as of June 30, 2024, was RMB 19,867,501,599.07, up from RMB 15,844,009,597.67 at the end of June 2023, reflecting an increase of about 25.7%[76]. Economic Environment - In the first half of 2024, China's GDP reached RMB 61.7 trillion, reflecting a year-on-year growth of 5.0%[12]. - The urban surveyed unemployment rate averaged 5.1% in the first half of 2024, a decrease of 0.2 percentage points compared to the same period last year[12]. - The consumer price index (CPI) rose by 0.1% year-on-year in the first half of 2024, with a 0.3% increase in the second quarter[12]. - The total import and export volume in the first half of 2024 reached RMB 21.2 trillion, marking a historical high for the same period[12]. Risk Management - The company is actively managing risks and uncertainties that may impact its operations and financial performance[2]. - The company faces various risks, including market risk, credit risk, liquidity risk, operational risk, and compliance risk[36]. - A comprehensive risk management structure is in place, with the board of directors overseeing risk management activities[37]. - The company emphasizes the cultivation of risk control awareness among all employees through internal training, enhancing their ability to identify and prevent risks[40]. - The company conducts regular stress tests on risk management indicators to observe the impact of market volatility and macroeconomic changes on cash flow[43]. Corporate Governance - The board of directors has reviewed the interim results, ensuring compliance with the relevant listing rules[1]. - The company has established a "one committee and three layers" corporate governance structure to enhance governance levels and mitigate operational risks[45]. - The company has strictly adhered to the Corporate Governance Code during the reporting period, meeting the majority of the recommended best practice provisions[46]. - The Audit Committee, consisting of four directors, has reviewed and confirmed the company's interim financial results for the six months ending June 30, 2024[49]. - The company has confirmed that all directors and supervisors have complied with the Standard Code regarding securities trading during the reporting period[47]. Future Plans - Future development plans for the second half of 2024 have been outlined, focusing on market expansion and new strategies[2]. - The company aims to enhance customer service capabilities and increase market share in brokerage business in the second half of 2024[27]. - The company plans to optimize risk management business quality and revenue capabilities in the upcoming period[27]. - The company is focusing on digital transformation across its operations, marketing, and management systems to improve efficiency[26]. Employee Management - The total number of employees in the company is 734, with employee costs amounting to approximately RMB 140.28 million during the reporting period[34]. - Over 90% of the employees hold a bachelor's degree or higher, and 78% are under the age of 40[34]. - The company organized 36 training sessions and produced 37 micro-courses to enhance employee skills and knowledge[35]. Investment Activities - The group has significant financing and investment activities, which are detailed in the report[2]. - No significant financing or investment activities occurred during the reporting period, and there are no future plans for major investments or acquisitions[32][33]. - The company has launched 119 "insurance + futures" projects across 11 provinces, with an insurance coverage amount of RMB 1.049 billion[25]. Financial Instruments and Assets - The group classifies financial assets into three categories: 1) financial assets measured at amortized cost; 2) financial assets measured at fair value with changes recognized in other comprehensive income; 3) financial assets measured at fair value with changes recognized in profit or loss[99]. - The company recognizes buy-back financial assets at the actual payment amount and records the trading difference as interest income using the effective interest method during the resale period[109]. - The company has receivables from margin deposits and payables for margin deposits related to clients' futures trading activities[110]. - The company holds long-term equity investments in all subsidiaries and joint ventures, measured at cost in the financial statements[115]. Compliance and Internal Controls - The company has implemented strict internal control systems and workflows across all business lines to mitigate operational risks[43]. - A compliance management system has been established, with a Chief Risk Officer overseeing risk management and internal compliance[44]. - Regular audits are conducted to ensure the legality, compliance, and effectiveness of the company's internal control systems and business processes[44].

Company Overview and History - The company's historical evolution and employee basic information are outlined in the company's basic situation section[2] - The company's predecessor, Shandong Quanxin Futures Brokerage Co., Ltd., was established on June 5, 1995, with an initial registered capital of RMB 10.2 million[45] - In 2000, Jinan Energy Investment Co., Ltd. invested RMB 20 million, increasing the registered capital to RMB 30.20 million[20] - In 2006, the company underwent restructuring and increased registered capital to RMB 50 million[21] - In 2007, Zhongtai Securities increased capital by RMB 150 million, raising the registered capital to RMB 200 million[22] - In 2010, Zhongtai Securities increased capital by RMB 200 million, raising the registered capital to RMB 403.62 million[23] - In 2012, the company introduced new shareholders and increased registered capital by RMB 120 million, with Zhongtai Securities subscribing RMB 49.11 million[24] - The company's registered capital increased to RMB 52 million in 2011 after a capital injection of RMB 114.302826 million by Zhongtai Securities and RMB 2.0733383 million by Jinan Energy Investment[50] - The company's registered capital was further increased to RMB 750 million in 2012 following a share split and restructuring[51] - Registered capital increased to RMB 100.19 million in 2015, with Zhongtai Securities holding 63.10% of the total shares[26] - In 2015, the company listed on the Hong Kong Stock Exchange, issuing 275 million H shares at HKD 3.32 per share[25] - The company's name was changed from "Luzheng Futures Co., Ltd." to "Zhongtai Futures Co., Ltd." on March 29, 2022[53] Financial Performance and Indicators - The company's financial status over the past 5 years is summarized in the financial summary section[3] - The company's major accounting data and financial indicators are provided in the financial summary section[3] - Total assets increased by 4.39% to RMB 3,012,639 million as of December 31, 2023, compared to RMB 2,885,916 million in the previous year[73] - Total liabilities rose by 4.35% to RMB 2,756,610 million as of December 31, 2023, from RMB 2,641,688 million in 2022[73] - The company's equity attributable to shareholders grew by 4.83% to RMB 256,029 million as of December 31, 2023, compared to RMB 244,228 million in 2022[73] - The company's total share capital remained unchanged at 100,190 million shares as of December 31, 2023[73] - The company's payable monetary margin increased by 12.05% to RMB 2,313,802 million as of December 31, 2023, compared to RMB 2,064,957 million in 2022[73] - Basic earnings per share decreased by 23.53% to RMB 0.13 in 2023 compared to RMB 0.17 in 2022[75] - Net profit attributable to shareholders decreased to RMB 13,372 million in 2023 from RMB 16,610 million in 2022, a decline of 19.5%[78] - Weighted average return on equity decreased by 1.69 percentage points to 5.33% in 2023 from 7.02% in 2022[75] - Total revenue decreased by 12.02% to RMB 215,323 million in 2023 from RMB 244,763 million in 2022[78] - Total profit decreased to RMB 18,143 million in 2023 from RMB 22,539 million in 2022, a decline of 19.5%[78] - Asset-liability ratio slightly decreased by 0.04 percentage points to 45.48% in 2023 from 45.52% in 2022[75] - Revenue for 2023 decreased by 12.03% to RMB 21.53 billion compared to RMB 24.48 billion in 2022[98] - Net profit attributable to shareholders dropped by 19.50% to RMB 1.34 billion in 2023 from RMB 1.66 billion in 2022[98] - Total assets increased to RMB 30.13 billion in 2023, up from RMB 28.86 billion in 2022[103] - The company's net capital stood at RMB 1.43 billion as of December 31, 2023, with a net capital to risk capital ratio of 191.17%[101] Organizational Structure and Operations - The company's organizational structure and branch institutions are described in the business basic situation section[2] - The company operates multiple branches, including Shanghai, Wuhan, Jinan, Nanjing, Hangzhou, and Ningbo, with the Shanghai branch established on February 29, 2016[33] - The company operates 31 futures branch institutions as of the reporting period[59] - The company's business scope includes commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management, and other activities permitted by the China Securities Regulatory Commission[65] - The company's subsidiary, Zhongtai Huirong Capital, engages in investment activities, sales of agricultural products, metal products, and other commodities, as well as warehousing services[66] Employee Information and Structure - The company's employee structure, compensation, and training situation are detailed in the management discussion and analysis section[3] - Total number of employees is 767, with 302 in marketing (39.37%) and 101 in Zhongtai Huirong Capital (13.17%)[28][29] - The company's employee base consists of 767 individuals, with 60.50% male and 39.50% female employees[56] - 32.33% of the company's employees are under 30 years old, while 28.55% hold a master's degree or higher[56] Risk Management and Compliance - The company's net capital and related risk control indicators are detailed in the financial summary section[3] - The company faces risks including market, liquidity, credit, operational, and compliance risks, with detailed mitigation measures outlined in the report[12] - The company's net capital and related risk control indicators complied with the regulatory standards set by the China Securities Regulatory Commission[77] Market and Industry Trends - The cumulative trading volume of China's futures market in 2023 reached 8.501 billion contracts, with a cumulative trading value of RMB 568.51 trillion, representing year-on-year growth of 25.60% and 6.28% respectively[38] - 14 new options and 7 new futures products were launched in 2023, bringing the total number of futures and options products in China's futures market to 131 by the end of the reporting period[38] - The company's internationalization efforts include the approval of specific domestic products such as rapeseed oil, rapeseed meal, and peanut futures and options, as well as the establishment of Morgan Stanley Futures (China) Co., Ltd.[38] - China's GDP exceeded RMB 126 trillion in 2023, with a growth rate 2.2 percentage points higher than in 2022[84] - China's contribution to global economic growth in 2023 is expected to exceed 30%, making it the largest engine of global economic growth[85] - The company's futures market saw a trend reversal in mid-2023 due to domestic favorable policies and improved international conditions, with prices rebounding after a period of correction[137] - The company's futures market experienced increased volatility and structural differentiation in Q4 2023 due to the impact of the Israel-Hamas conflict and its spillover effects on the Red Sea region[137] Investment and Financing Activities - The company's major investment and financing activities are outlined in the management discussion and analysis section[3] - The company's major asset disposals, acquisitions, and restructuring activities are described in the management discussion and analysis section[3] - Zhongtai Securities, a major shareholder, holds 32.62% of Zaozhuang Mining, which in turn holds 86.31% of the company[10] Awards and Recognition - The company was awarded multiple honors in 2023, including "China's Best Futures Company" and "Best Financial Futures Service Award"[68] - The company's case was selected as an exemplary case of futures institutions serving the real economy by the China Futures Association[69] - The company was awarded the "Best Rural Revitalization Service and Social Responsibility Public Welfare Award" at the 16th China Best Futures Institution Awards[105] Social Responsibility and Rural Revitalization - The company completed over 200 "insurance + futures" projects nationwide in 2023, providing insurance coverage of over RMB 3 billion and compensating farmers with over RMB 120 million[105] - The company actively promoted rural revitalization through the "insurance + futures" model, providing price and income insurance services to farmers and agricultural enterprises[123] Future Plans and Strategy - The company plans to focus on transformation and steady progress in 2024, aiming to become a top-tier futures company[106] - The company's futures brokerage business benefited from the implementation of China's Futures and Derivatives Law, with 21 new futures and options products launched in 2023, bringing the total number of products to 131, covering major sectors such as agriculture, metals, energy, chemicals, shipping, and finance[140] Technology and Innovation - The company's information technology construction and annual development plans are discussed in the management discussion and analysis section[3] - The company's R&D expenditure in 2023 reached RMB 3,327.82 billion, with an R&D intensity of 2.64%, an increase of 0.08 percentage points from the previous year[134] Economic and Industry Contributions - The contribution rate of final consumption expenditure to economic growth in 2023 reached 82.5%, an increase of 43.1 percentage points from the previous year[134] - The company's service industry added value accounted for 54.6% of GDP in 2023, an increase of 1.2 percentage points from the previous year[134] - The company's grain output in 2023 increased by 1.3% year-on-year, while the output of raw coal, crude oil, and natural gas increased by 2.9%, 2%, and 5.8% respectively[134] - The company's per capita disposable income of residents nationwide increased by 6.1% in real terms year-on-year in 2023[134] Client and Market Performance - The company's futures client equity increased by 4.45% year-on-year, while stock options (including spot) client equity grew by 15.49%[117] - The company's fee income decreased by 1.98% year-on-year during the reporting period[117] - The scale of China's futures asset management business was approximately RMB 2,743 billion at the end of 2023, a year-on-year decrease of about 13%[120] - The company's over-the-counter derivatives business saw a 10.12% year-on-year increase in new nominal principal, providing comprehensive risk management services to industrial and financial institution clients[123] - In 2023, 21 new futures and options products were launched, bringing the total number of domestic futures and options products to 131[114] - The cumulative funding support for SMEs through warehouse receipt services reached RMB 5.142 billion, serving 684 SMEs[114] - The cumulative trade volume for SMEs through basis trade services reached RMB 236.253 billion, serving 31,058 SMEs[114] - The cumulative trade volume for SMEs through option-included trade services reached RMB 3.657 billion, serving 426 SMEs[114] - The total nominal amount of over-the-counter commodity derivatives for SMEs reached RMB 924.149 billion in 2023[114] - The company's customer equity scale at the end of 2023 was RMB 1,422.743 billion, a year-on-year decrease of 3.92%[136] - In 2023, the total trading volume of the national futures market reached 85.01 billion contracts, a year-on-year increase of 25.60%, while the total trading value reached RMB 568.51 trillion, a year-on-year increase of 6.28%[136]

Capital Structure and Shareholder Information - The company reported a registered capital increase to RMB 75 million after restructuring and renaming in December 2012[25]. - In 2023, the company issued 275 million H-shares at an issue price of HKD 3.32 per share, marking its listing on the Hong Kong Stock Exchange[32]. - The company has a major shareholder, Zaozhuang Mining, holding an 86.31% stake, indicating strong backing in its operations[8]. - The registered capital of the company increased to RMB 1,001.90 million, with the total share capital structure showing that Zhongtai Securities holds 632,176,078 shares, accounting for 63.10% of the total ordinary shares[33]. - The company has a total of 277,090,000 H shares, accounting for 27.66% of the total ordinary shares[33]. - The total number of shares remained unchanged at 100,190,000 shares[81]. Financial Performance - The company's operating revenue for 2023 was RMB 215,323 million, a decrease of 12.03% compared to RMB 244,763 million in 2022[73]. - Total profit for 2023 was RMB 18,143 million, down 19.51% from RMB 22,539 million in the previous year[73]. - Net profit attributable to shareholders was RMB 13,372 million, reflecting a 19.50% decline from RMB 16,610 million in 2022[73]. - Basic earnings per share for 2023 were RMB 0.13, a decrease of 23.53% compared to RMB 0.17 in 2022[75]. - The weighted average return on net assets was 5.33%, down from 7.02% in the previous year, a reduction of 1.69 percentage points[75]. - The company's net cash flow from operating activities was RMB 285,333 million, a significant decrease of 51.55% from RMB 588,864 million in 2022[73]. - The company's asset-liability ratio was 45.48%, slightly down from 45.52% in the previous year[75]. - The company reported a total operating expenditure of RMB 196,873 million, down from RMB 222,199 million in 2022, a decrease of 11.4%[110]. Assets and Liabilities - Total assets as of December 31, 2023, reached RMB 3,012,639,000, an increase of 4.39% compared to RMB 2,885,916,000 in 2022[81]. - Total liabilities increased by 4.35% to RMB 2,756,610,000 from RMB 2,641,688,000 in the previous year[81]. - The equity attributable to shareholders rose by 4.83% to RMB 256,029,000 from RMB 244,228,000 in 2022[81]. - The net capital as of December 31, 2023, was RMB 1,430,583,496.42, up from RMB 1,386,802,098.38 in 2022[84]. - The ratio of net capital to total risk capital reserves was 191.17%, slightly down from 192.01% in the previous year[84]. - The ratio of current assets to current liabilities was 522.03%, compared to 554.70% in 2022[84]. - The amount of settlement reserves increased significantly to RMB 520,037,118.86 from RMB 150,615,499.01 in 2022[84]. - The debt-to-equity ratio increased to 16.16% from 14.41% in the previous year[84]. Employee and Organizational Structure - The company has a total of 767 employees, with a gender distribution of 60.50% male (464) and 39.50% female (303)[35]. - Employee age structure indicates that 32.33% are under 30 years old, while 25.03% are aged 31-35, and 23.60% are aged 36-40[35]. - Educational background shows that 28.55% of employees hold a master's degree or above, while 63.49% have a bachelor's degree[35]. - The organizational structure includes various departments such as financial technology management, compliance and risk control, and customer service[42]. - The company has a significant market marketing team, comprising 39.37% of the total workforce[40]. - The company has a diverse professional structure, with 11.73% in brokerage business management and 13.17% in Zhongtai Huirong Capital Investment[40]. - The company maintained a focus on talent development and compliance risk management, enhancing operational effectiveness[173]. - The company focused on talent development and training, conducting 69 training sessions and producing 72 micro-courses during the reporting period[190]. Market and Industry Insights - The company faced significant risks including market risk, liquidity risk, credit risk, operational risk, and compliance risk, which are detailed in the report[4]. - The company has implemented measures to mitigate risks by optimizing organizational structure and establishing comprehensive systems[4]. - The overall economic environment in 2023 has shown signs of recovery, with a focus on high-quality development and risk management in the futures market[55]. - The futures market's growth trajectory is expected to continue, driven by increasing demand for risk management solutions and the introduction of new products[56]. - The total trading volume in the national futures market for 2023 was 8.501 billion contracts, a year-on-year increase of 25.60%[148]. - The total transaction value in the futures market reached RMB 56.851 trillion, up 6.28% from the previous year[148]. - The number of futures and options varieties in China's domestic market reached 131 by the end of 2023, including 71 commodity futures and 40 commodity options[161]. - The company is involved in various business activities, including commodity futures brokerage, financial futures brokerage, and asset management, contributing to its diversified revenue streams[59]. Awards and Recognition - The company received multiple awards in 2023, including "Best Futures Company" and "Best Management Team" at the 16th China Best Futures Operating Institution Awards[70]. - The company was recognized as a "Provincial Civilized Unit" by the Shandong Provincial Committee for Spiritual Civilization Construction[71]. - The company's research team received multiple accolades, including "China's Gold Medal Futures Research Institute" and "Best Macro Financial Futures Research Team"[147]. Future Plans and Strategic Initiatives - The company plans to enhance its research and investment capabilities and accelerate the development of a comprehensive customer service system in 2024[129]. - The company aims to maintain compliance and risk management effectiveness while adapting to policy changes in 2024[129]. - The company is focused on enhancing its market position through strategic initiatives and potential mergers and acquisitions in the future[93].

Financial Performance - The weighted average return on equity decreased to 2.76%, down by 1.15 percentage points from 3.91%[24] - The company reported a significant decline in net profit, with a year-on-year decrease of 15%[24] - Operating revenue for the first half of 2023 was RMB 82,338 million, a decrease of 38.97% compared to RMB 134,912 million in the same period of 2022[26] - Total profit for the first half of 2023 was RMB 9,387 million, down 24.02% from RMB 12,355 million year-on-year[26] - Net profit attributable to shareholders for the first half of 2023 was RMB 6,813 million, representing a decline of 24.84% compared to RMB 9,065 million in the previous year[26] - Basic and diluted earnings per share for the first half of 2023 were both RMB 0.07, down 22.22% from RMB 0.09 in the same period of 2022[26] - The company reported a significant decline in cash flow, indicating potential liquidity challenges moving forward[26] Market Expansion and Growth Strategies - User data showed a 10% increase in active accounts compared to the previous period[24] - The company plans to expand its market presence in Southeast Asia, targeting a 20% growth in that region over the next year[24] - Future guidance indicates a revenue growth target of 10% for the next fiscal year[24] - The company plans to enhance its market expansion strategies and invest in new technologies to improve future performance[138] Investment and Financing - The company has secured a new financing round of RMB 500 million to support its growth strategies[24] - A strategic acquisition is in progress, which is anticipated to increase market share by 5%[24] - The company is investing in advanced technology to improve risk management systems, with a budget allocation of RMB 100 million[24] Economic Environment - The overall economic environment in China showed signs of recovery, with GDP growth of 5.5% in the first half of 2023, which may impact future performance positively[29] - Final consumption expenditure drove economic growth by 4.2 percentage points in the first half of 2023, highlighting the significant role of consumer spending[42] Risk Management - The company is facing potential regulatory risks that may impact operations, with mitigation strategies being developed[24] - The group faces various risks including market risk, credit risk, liquidity risk, operational risk, and compliance risk[90] - The company has established a comprehensive risk management and internal control system, with a Chief Risk Officer responsible for risk management, compliance, and audit functions[123] - The company has implemented a customer credit assessment system to manage credit risk, adjusting credit ratings based on financial conditions and cooperation history[120] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 3,004,748 million, an increase of 4.12% from RMB 2,885,916 million at the end of 2022[26] - Total liabilities as of June 30, 2023, were RMB 2,755,237 million, up 4.30% from RMB 2,641,688 million at the end of 2022[26] - The debt-to-asset ratio increased to 50.25% as of June 30, 2023, compared to 45.52% at the end of 2022, reflecting an increase of 4.73 percentage points[26] Operational Efficiency - The company maintained a strong focus on talent development, conducting 25 training sessions and producing 28 micro-courses during the reporting period[84] - Employee costs for the period were approximately RMB 126.76 million, with a total of 733 employees, an increase of 48 from the previous year[81] Financial Reporting and Compliance - The company emphasizes effective corporate governance as a crucial part of creating shareholder value and has adopted the Corporate Governance Code as its governance standard[116] - The audit committee consists of five directors, with Mr. Luo Xinhua serving as the chairman, ensuring oversight of financial reporting[114] - The company’s financial statements were approved by the board on August 24, 2023, indicating timely reporting practices[191]