| 重要提示 | 3 | | --- | --- | | 董事長致辭 | 4 | | 釋義 | 6 | | 公司資料 | 13 | | 財務摘要 | 25 | 第二節 經營情況 | 管理層討論及分析 | 29 | | --- | --- | | 董事會報告 | 78 | 第三節 企業管治 | 重要事項 | 90 | | --- | --- | | 股份變動及主要股東情況 | 99 | | 董事、監事、高級管理人員和員工情況 | 103 | | 企業管治報告 | 120 | | 監事會報告 | 160 | 股份代號：03678.HK;001236.SZ 年度報告 目 錄 第一節 關於我們 第四節 財務資料 審計報告 164 本報告以中、英文編製。倘中英文版本有任何歧義，概以中文版本為準。 關於我們 01 2024年度報告 2 重要提示 本公司董事會、監事會及董事、監事、高級管理人員保證年度報告內容的真實、準確、完整，不存在虛假記 載誤導性陳述或重大遺漏，並就其承擔個別和連帶的法律責任。 本報告已經公司第五屆董事會第二次會議、第五屆監事會第二次會議審議通過，全體董事和全體監事出席了 會議，沒有董事、監事、高級管理 ...

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue reached RMB 2.876 billion, representing a year-on-year growth of 48%[14] - The net profit for the same period was RMB 29.8262 million, showing a significant increase of 283% compared to the previous year[14] - Total operating revenue for 2024 reached RMB 287,579 million, an increase of RMB 93,257 million or 48% compared to 2023[52] - Net profit attributable to shareholders for 2024 was RMB 2,983 million, up RMB 2,204 million or 283% from 2023[52] - The company's total assets as of December 31, 2024, amounted to RMB 1,169,937 million, reflecting a growth of RMB 238,629 million or 26% year-over-year[52] - The company's total liabilities increased to RMB 982,259 million, a rise of RMB 235,701 million or 32% compared to the previous year[52] - The debt-to-asset ratio for 2024 was reported at 34%, up from 25% in 2023[56] - The weighted average return on equity for 2024 improved to 1.60%, compared to 0.42% in 2023[54] - Net cash generated from operating activities for 2024 was RMB 234,808 million, a significant increase of RMB 396,523 million compared to a cash outflow in 2023[52] Business Strategy and Operations - The company has implemented a business strategy focused on "stabilizing income, controlling costs, preventing risks, and strengthening assessments" to navigate a complex market environment[14] - The company is actively expanding its innovative business areas, providing diversified supply chain integration services to physical enterprises[15] - The company is exploring new strategies for growth, including potential mergers and acquisitions, although specific targets or amounts were not mentioned[18] - The company is focused on innovation in asset management products, including FOF (Fund of Funds) strategies, to diversify investment opportunities[18] - The company is committed to serving the real economy while fostering innovation and collaboration for mutual benefits[16] Risk Management - The company emphasizes compliance and risk prevention to ensure stable operations[16] - The company emphasizes the importance of risk management, with a dedicated Chief Risk Officer overseeing compliance and risk strategies[18] - The company has implemented strict risk management measures, including monitoring market trends and adjusting investor margin standards to mitigate risks associated with market volatility[160] - The company has established a robust credit risk management system, ensuring thorough assessment of new clients' identities and creditworthiness[162] - The company is actively managing market risks through low volatility asset allocation and flexible high volatility asset adjustments[159] Market Expansion and Client Engagement - The company is actively involved in market expansion and has plans for new product development, although specific figures and timelines were not disclosed in the provided content[18] - The number of effective clients in the market exceeded 2.5 million, marking a historical high with a year-on-year growth of 13%, and the total amount of funds reached approximately 1.63 trillion RMB, up 8.3% year-on-year[70] - The company opened 38 business outlets and branches, with a 19.2% year-on-year increase in new account openings in 2024[78] - The company has enhanced customer service capabilities through a stable sales team and various communication channels, including a dedicated app[189] Governance and Compliance - The governance system is continuously improved, with a focus on team building and enhancing professional capabilities among employees[15] - The company is committed to enhancing its governance and compliance with the Corporate Governance Code as per the Hong Kong Listing Rules[20] - The company has maintained an "A Class A Grade" regulatory rating from the China Securities Regulatory Commission for 16 consecutive years, reflecting its effective risk management practices[168] Innovation and Technology - The company is committed to enhancing its technological capabilities through its Information Technology Committee[44] - The company has established a national-level postdoctoral workstation, providing value-added information such as macroeconomic analysis and industry research[189] - The company has successfully launched new services such as video reporting and live streaming through its online cloud service platform[188] Shareholder Structure and Capital - The company completed the issuance of 100,777,778 A-shares, listed on the Shenzhen Stock Exchange on August 5, 2022, with a total of 758,077,778 A-shares outstanding by the end of the reporting period[17] - The company has a significant shareholder structure, with Jiangsu Suhao Holding Group as the major shareholder, indicating strong backing from state-owned enterprises[18] - The shareholding structure post-2022 listing shows Suhao Holdings at 27.33%, Hongye Shares at 14.68%, and Hongsu Industrial at 14.24%[42] Awards and Recognition - The company received over 40 honors, including being named China's Best Futures Company and a Model for Corporate Social Responsibility in Jiangsu[77] - The company has received multiple awards, including the 2024 China Excellent Futures Risk Management Subsidiary Jun Ding Award and the 2024 China Excellent Rural Revitalization Futures Company Jun Ding Award[199] - The company has been recognized for its ESG practices, highlighting its commitment to sustainable development[199]

Financial Performance - For the third quarter of 2024, the company reported total operating revenue of RMB 959,041,567.16, representing a year-over-year increase of 432.68%[6] - The net profit attributable to shareholders for the same period was RMB 3,619,306.61, reflecting a significant increase of 158.22% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 3,161,660.89, up by 148.72% year-over-year[6] - The basic earnings per share for the quarter was RMB 0.0036, showing an increase of 158.06% compared to the same period last year[6] - The company’s total revenue for the year-to-date period was RMB 1,987,514,255.44, which is an increase of 82.17% compared to the same period last year[6] - Operating profit surged by 1342.03% to CNY 19,221,377.68, attributed to the growth in futures brokerage business profits[11] - The company’s total profit rose by 1101.19% to CNY 21,756,815.18, driven by the increase in operating profit[11] - Net profit for the period reached 16,419,986.60, a significant increase of 1702.66% compared to the previous year's profit of 910,875.82[12] - Total comprehensive income amounted to 15,093,914.36, reflecting a growth of 183.66% from 5,321,106.10 in the same period last year[12] Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 11,999,868,714.45, which is an increase of 28.85% from the end of the previous year[6] - The company's total assets increased significantly, with other equity instrument investments rising by 964.36% to CNY 19,723,681.94 due to new investments made during the year[8] - Total liabilities rose to ¥10,141,312,605.70 from ¥7,465,583,838.39, marking an increase of around 36.0%[24] Cash Flow - The cash flow from operating activities for the year-to-date period reached RMB 2,436,949,452.19, marking a 206.84% increase year-over-year[6] - Cash and cash equivalents increased by 43.32% to CNY 6,937,837,585.16, primarily due to growth in customer margin deposits[8] - Cash inflow from operating activities totaled 5,163,680,068.13, a substantial increase from 1,324,416,199.06 in the prior period, reflecting a growth of about 289%[29] - Net cash flow from operating activities was 2,436,949,452.19, a turnaround from a negative cash flow of -2,280,962,072.67 in the previous period[29] Shareholder Information - The top shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds 27.33% of shares, totaling 275,456,777 shares[13] - The second-largest shareholder, Hong Kong Central Clearing Limited, owns 24.78% of shares, amounting to 249,690,049 shares[13] - The company has a total of 56,500 common shareholders as of the end of the reporting period[13] Management Changes - The company appointed Mr. Chu Kai Rong as Chairman on July 4, 2024, and Mr. Zhao Wei Xiong as Executive Director on September 6, 2024[16] - Mr. Yu Hong resigned as Supervisor and Chair of the Supervisory Board effective September 6, 2024, with Mr. Huang Dong Yan appointed as the new Supervisor and Chair on the same date[17] Dividend and Tax Information - The company approved a cash dividend distribution plan during the 2023 Annual General Meeting, with dividends to be credited to shareholders' accounts on August 9, 2024[20] - The company reported a tax effect of -1,326,072.24 in other comprehensive income, a decrease of 130.07% from the previous year's income of 4,410,230.28, mainly due to currency fluctuations[12] Business Growth and Strategy - Total revenue for the period reached CNY 1,987,514,255.44, an increase of 82.17% compared to the previous year, driven by the expansion of the subsidiary Hongye Capital's business scale[10] - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the upcoming periods[27]

Financial Performance - The company achieved a revenue of RMB 500 million for the first half of 2024, representing a 10% increase compared to the same period last year[5]. - Total operating revenue for the first half of 2024 reached RMB 1.028 billion, representing a year-on-year increase of 13% compared to RMB 910.99 million in the same period of 2023[15]. - Total profit for the first half of 2024 was RMB 16.62 million, a significant increase of 62% from RMB 10.26 million in the first half of 2023[15]. - Net profit attributable to shareholders reached RMB 12.80 million, marking an 80% increase from RMB 7.13 million in the same period last year[15]. - The company reported basic earnings per share of 0.0127, up from 0.0071 in the previous period, indicating a significant increase in profitability[14]. - The diluted earnings per share also increased to 0.0127 from 0.0071, reflecting improved financial performance[14]. - The weighted average return on equity rose to 0.69% from 0.39%, demonstrating enhanced efficiency in generating profits from shareholders' equity[14]. - The company reported a total comprehensive income of RMB 13,991,237.32 for the first half of 2024, compared to RMB 12,340,076.34 in the same period of 2023[120]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1.282 billion, up 38% from RMB 931.31 million at the end of 2023[15]. - Total liabilities increased by 47% to RMB 1.097 billion from RMB 746.56 million at the end of 2023[15]. - The company's total assets as of June 30, 2024, amounted to RMB 12,187,685,937.02, up from RMB 8,818,784,917.82 at the beginning of the year, reflecting a growth of 38.5%[116]. - The total liabilities as of June 30, 2024, were RMB 10,299,222,602.95, compared to RMB 6,944,992,842.50 at the start of the year, indicating a growth of 48.5%[116]. - The company's net capital as of June 30, 2024, was RMB 723 million, down from RMB 841 million at the end of 2023[18]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces in China by the end of 2024[6]. - The company is exploring partnerships with international firms to enhance its service portfolio and expand its global reach[6]. - The company has set a performance guidance of RMB 1.2 billion in revenue for the full year 2024, aiming for a growth rate of 15%[4]. - The company is focusing on optimizing product structures and enhancing risk management capabilities in response to increasing market volatility and uncertainty[23]. - The company aims to strengthen its off-exchange business by enhancing pricing and service advantages, and collaborating with local governments and insurance companies to capture more market share[29]. Research and Development - Research and development expenses increased by 20% to RMB 200 million, focusing on new financial products and technologies[7]. - The company plans to enhance its research and development capabilities by collaborating with universities and increasing investment in technology innovation[32]. Risk Management - The company emphasizes compliance and risk management, particularly in light of new regulatory requirements, to ensure sustainable growth[35]. - The risk management system is designed to prevent ethical, market, and credit risks, ensuring the safety and integrity of client and company assets[73]. - The company is actively managing market risks by diversifying its portfolio with low-volatility financial assets and controlling risk exposure to financial assets[65]. - The company has implemented strict credit risk controls, including a rigorous client onboarding process and investor education to mitigate potential losses from client defaults[66]. Employee and Corporate Governance - The total number of employees in the group as of the reporting period was 659, with total employee costs (including director remuneration) amounting to approximately RMB 97.02 million for the six months ending June 30, 2024[57]. - The company has established social insurance and housing provident fund benefits for employees, along with supplementary benefits such as corporate annuities and additional medical insurance[59]. - The company has implemented training programs to enhance the professional capabilities of its employees, focusing on business knowledge and marketing skills[59]. - The company has adopted the Corporate Governance Code and has complied with most of its best practice recommendations during the reporting period[80]. Financial Health and Liquidity - The company has maintained a strong liquidity position with a significant increase in cash reserves, supporting future growth initiatives and market expansion strategies[115]. - The net cash inflow from operating activities was RMB 232.78 million, a remarkable turnaround from a cash outflow of RMB 145.34 million in the first half of 2023, representing a 260% increase[15]. - The company achieved total operating revenue of RMB 1.028 billion for the six months ended June 30, 2024, representing a year-on-year increase of 13%[36]. - The company reported a net investment income of RMB 22,861,026.33, recovering from a loss of RMB 1,535,871.97 in the first half of 2023[118]. Compliance and Regulatory Matters - The company is actively promoting compliance and rectification measures following the regulatory notice received[101]. - Jiangsu Securities Regulatory Bureau issued a corrective administrative measure to the company on June 25, 2024, requiring improvements in internal control and risk management[101]. - The company has maintained an "A Class A" regulatory rating from the China Securities Regulatory Commission for 15 consecutive years since 2009[72]. Shareholder Information - The company's controlling shareholder, Suhao Holdings, holds approximately 51.58% of the company's shares as of June 30, 2024[93]. - The public float for H shares is approximately 22.37% and for A shares is 32.39%, complying with the relevant regulations of the Hong Kong Stock Exchange[88]. - The company does not recommend the distribution of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[90].

Financial Performance - The company reported unaudited consolidated interim results for the six months ending June 30, 2024, with a comparison to the same period in 2023[2]. - For the first half of 2024, the company achieved operating revenue of RMB 1.028 billion, a year-on-year increase of 12.90%[21]. - Total profit for the same period was RMB 16.617 million, reflecting a growth of 61.92% compared to the previous year[21]. - Net profit attributable to shareholders reached RMB 12.8007 million, marking an 80% increase year-on-year[17]. - The weighted average return on equity improved to 0.69%, up from 0.39% in the same period last year[16]. - The company achieved total operating revenue of RMB 1.028 billion for the six months ended June 30, 2024, representing a year-on-year increase of 13%[38]. - Net profit attributable to shareholders reached RMB 12.8 million, marking an 80% year-on-year growth[38]. - The company reported a total comprehensive income of RMB 13,991,237.32 for the first half of 2024, compared to RMB 12,340,076.34 in the same period of 2023[122]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1.284 billion, a 38% increase from RMB 931.308 million at the end of 2023[17]. - The company's total liabilities increased to RMB 1.097 billion, a rise of 47% compared to RMB 746.558 million at the end of 2023[17]. - The net capital as of June 30, 2024, was RMB 723 million, down from RMB 841 million at the end of 2023[20]. - The company's total assets as of June 30, 2024, amounted to RMB 12,824,479,985.49, an increase from RMB 9,313,077,143.89 on January 1, 2024, reflecting a growth of approximately 37.0%[114]. - The total liabilities increased to RMB 10,967,026,553.78 as of June 30, 2024, compared to RMB 7,465,583,838.39 at the start of the year, indicating a rise of approximately 47.0%[115]. Cash Flow - The company's cash flow from operating activities showed a significant improvement, with a net inflow of RMB 232.779 million compared to a net outflow of RMB 145.341 million in the previous year[17]. - In the first half of 2024, the net increase in cash and cash equivalents was RMB 2.019 billion, compared to a net decrease of RMB 1.589 billion in the same period of 2023, representing an increase of RMB 3.608 billion year-on-year[44]. - The net cash flow from operating activities for the first half of 2024 was RMB 2.328 billion, a significant increase of RMB 3.781 billion compared to a net cash outflow of RMB 1.453 billion in the same period of 2023[44]. - The total cash and cash equivalents at the end of June 2024 amounted to RMB 6,831,604,177.41, up from RMB 4,727,059,232.57 at the end of June 2023[128]. Governance and Compliance - The board of directors includes various members, indicating a diverse governance structure, which may impact strategic decisions moving forward[2]. - The company’s governance practices are aligned with the Corporate Governance Code of the Hong Kong Stock Exchange, which may enhance investor confidence[6]. - The company is subject to the regulations of the China Securities Regulatory Commission, which may influence its operational strategies and compliance measures[6]. - The audit committee has reviewed and confirmed the interim results for the six months ended June 30, 2024, in accordance with Chinese accounting standards[85]. - The company’s board of directors acknowledges responsibility for the preparation of the financial statements, which are unaudited[86]. Risk Management - The company is focusing on risk management and compliance, emphasizing the importance of maintaining a strong risk control framework[37]. - The company faces various risks including policy risk, market risk, and internal control risk, and has implemented measures to manage these risks effectively[62]. - The risk management system is designed to prevent ethical, market, and credit risks, ensuring the safety and integrity of client and company assets[75]. - The company has implemented strict credit risk controls, including a rigorous client onboarding process and investor education to mitigate potential losses from client defaults[68]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided content[6]. - The company aims to enhance its core competitiveness by focusing on customer-centric strategies and optimizing its operational structure to improve risk management and service capabilities[29]. - The company plans to strengthen its brokerage business by leveraging exchange policies and conducting targeted activities to deepen enterprise services, aiming for significant growth in market share[30]. - The company will enhance its off-market business by improving pricing and service advantages, and by collaborating with local governments and insurance companies to capture more market share[31]. Employee and Talent Management - The total number of employees in the group is 659, with total employee costs (including director remuneration) amounting to approximately RMB 97.02 million for the six months ending June 30, 2024[59]. - The company emphasizes training programs for employees to enhance their professional skills and knowledge in the futures industry[61]. - The company plans to focus on talent acquisition and development, implementing a comprehensive talent management strategy to enhance innovation and operational effectiveness[33]. Shareholder Information - The board of directors does not recommend the distribution of an interim dividend for the six months ended June 30, 2024, consistent with the previous period[92]. - As of June 30, 2024, the major shareholder, Suhao Holdings, holds approximately 51.58% of the company's issued shares, totaling 519,827,256 shares[102]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period, and holds no treasury shares as of June 30, 2024[93]. Future Outlook - The company continues to monitor market conditions and adjust its strategies accordingly, although specific future outlooks were not detailed in the provided content[142]. - The company has not planned any major investments or fixed asset projects for the future[56].

Financial Performance - Total revenue for Q1 2024 was CNY 178,976,300.11, representing an increase of 8.27% compared to CNY 165,299,348.86 in the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 13,266,963.32, a decrease of 327.56% from a profit of CNY 5,830,109.25 in the previous year[7] - The total comprehensive income for the quarter was RMB -13,208,519.84, representing a decline of 622.68% compared to the previous year[26] - The company reported a net loss of ¥13,266,963.32 for the current period, compared to a net profit of ¥5,830,109.25 in the previous period, indicating a significant decline in profitability[49] - The company reported a total profit of CNY -16,515,066.36 for the current period, compared to a profit of CNY 7,747,001.17 in the previous period, indicating a significant decline[61] Cash Flow - Cash flow from operating activities improved significantly to CNY 1,699,286,889.02, a 194.44% increase from a negative cash flow of CNY 1,799,404,576.67 in the same period last year[7] - Operating cash flow generated was ¥1,699,286,889.02, a substantial improvement compared to a negative cash flow of ¥-1,799,404,576.67 in the previous period, indicating better cash management[51] - The company’s cash inflows from operating activities totaled ¥2,483,579,242.18, significantly higher than ¥168,028,309.98 in the previous period, indicating improved operational efficiency[51] - The company’s cash outflows for operating activities were ¥784,292,353.16, down from ¥1,967,432,886.65 in the previous period, suggesting better cost control measures[51] - The net increase in cash and cash equivalents for the period was approximately ¥1.36 billion, compared to a decrease of -¥1.89 billion in the previous period[71] Assets and Liabilities - Total assets increased by 23.51% to CNY 11,502,806,021.90 from CNY 9,313,077,143.89 at the end of the previous year[7] - Total liabilities increased to CNY 9,668,521,236.24 from CNY 7,465,583,838.39, representing an increase of about 29.4%[59] - The company's cash and cash equivalents amounted to CNY 6,200,027,276.60, compared to CNY 4,840,823,714.33 in the previous period, reflecting an increase of approximately 28.1%[56] - The company reported a significant increase in contract liabilities to CNY 2,636,928.00 from CNY 446,185.04, indicating a growth of approximately 492.5%[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,794[27] - The company plans to distribute a cash dividend of RMB 0.04 per share, totaling RMB 4,031,111.11, which accounts for 51.74% of the net profit attributable to shareholders for 2023[34] - The company’s basic and diluted earnings per share were both ¥-0.0132, compared to ¥0.0058 in the previous period, reflecting the impact of the net loss on shareholder value[50] Operational Highlights - Operating income decreased by 79.54% compared to the same period last year, primarily due to a significant drop in penalty income from subsidiaries[26] - Operating expenses increased by 1,055.84% year-on-year, mainly due to the company paying overdue social security contributions during the reporting period[26] - Revenue from sales of goods and services amounted to ¥122,682,099.33, up from ¥85,608,196.33 in the previous period, showing growth in operational activities[51] Investment Activities - Cash inflow from investment activities totaled approximately ¥1.97 billion, a significant increase from ¥183.67 million in the previous period[66] - Net cash outflow from investment activities was approximately -¥319.56 million, compared to -¥57.33 million in the prior period[66] Future Plans and Changes - The company plans to change its name to "Su Hao Hong Ye Futures Co., Ltd." and the stock abbreviation to "Su Hao Futures," pending approval at the 2023 annual shareholders' meeting[54] - The company will implement new accounting standards starting in 2024, affecting the financial statements[67] Miscellaneous - There were no other non-recurring profit and loss items reported during the period[21] - The first quarter report has not been audited[72] - The company has appointed Mr. Chu Kai-Rong as the acting chairman as of January 8, 2024[54]

Business Performance - The company reported a steady growth in brokerage business, with asset management business improving steadily and risk management business developing rapidly[4]. - The company's operating revenue for 2023 was RMB 194,322 million, representing a 27.20% increase compared to RMB 152,775 million in 2022[76]. - Net profit attributable to shareholders for 2023 was RMB 779 million, a decrease of 37.07% from RMB 1,238 million in 2022[76]. - The total trading volume for the company was RMB 5,173.92 billion, down 21.25% from RMB 6,570.01 billion in 2022[44]. - The cumulative trading volume in China's futures market for 2023 was 8.501 billion contracts, with a total transaction value of RMB 56.851 trillion, marking a year-on-year increase of 25.60% and 6.28% respectively[71]. - The company experienced a significant cash outflow from operating activities amounting to RMB -161,715 million in 2023, compared to an inflow of RMB 192,509 million in 2022, indicating a 184.00% decline[76]. - The company’s total trading volume was 83.54 million lots, a decrease of 8.32% from 91.13 million lots in 2022[44]. - The company’s debt-to-asset ratio was reported at 1.24[38]. Market and Regulatory Environment - The company’s business performance is closely related to the trends in the securities and futures markets, influenced by macroeconomic factors and regulatory policies[42]. - The company reported a challenging economic environment in 2023, characterized by insufficient effective demand and industry overcapacity, with a focus on high-quality development as a priority for 2024[99]. - The company emphasizes the importance of long-term strategic planning to enhance confidence and stability in its development amidst rising external uncertainties[99]. Product Development and Innovation - The company launched 21 new futures and options products in 2023, bringing the total number of products to 131, covering key sectors of the national economy[160]. - The introduction of lithium carbonate futures and options in July 2023 marked a significant innovation, being the first physical delivery futures product globally in this category[160]. - The company has successfully launched low-sulfur fuel oil futures to support the transition in the shipping fuel market, aligning with the "dual carbon" strategy[160]. - The company has established a comprehensive yield curve for government bonds, covering key maturities from 2 to 30 years with the introduction of 30-year government bond futures[160]. - The company is actively enhancing its product system and optimizing product rules to attract more participants and improve market quality[161]. Financial Management - The company’s net capital ratio to total risk capital reserves was 266% as of December 31, 2023, up from 244% in 2022[64]. - The asset-liability ratio as of December 31, 2023, was 25%, an increase from 24% in the previous year[175]. - The company’s net assets attributable to shareholders increased by 0.55% to RMB 18.47 billion[175]. - As of December 31, 2023, the company's net capital was RMB 841 million, a decrease of RMB 73 million compared to RMB 914 million at the end of 2022[158]. Corporate Governance and Strategy - The company emphasizes the importance of corporate governance and has undergone several structural changes since its establishment[22]. - The company is committed to ensuring the accuracy and completeness of its annual report, taking legal responsibility for any misleading statements or significant omissions[97]. - The company aims to enhance its core competitiveness and strengthen its core functions, focusing on three service ecosystems: industrial clients, institutional clients, and retail investors[125]. - The company plans to leverage historical opportunities during the new round of opening reforms to create greater value for clients and investors[125]. - The company is committed to high-quality development in 2024, which is a key year for completing the "14th Five-Year Plan" tasks[125]. - The company will adopt more pragmatic operational measures to achieve its strategic vision[125]. - The company emphasizes the importance of uniting all employees to accelerate the construction of a competitive domestic leading futures company[125]. - The company is focused on serving national strategies, local economies, and group development as its main work line[125]. - The company has established a platform filled with confidence and positive energy for its stakeholders[125]. Risk Management - The company is committed to risk management and financial innovation to support the real economy[4]. - The company acknowledges the need to address investment risks associated with its future plans and development strategies[98]. - The company’s risk control indicators are in compliance with regulatory requirements[158]. Shareholder Information - The company has a total of 249.7 million H shares outstanding[8]. - The company’s major shareholder is Jiangsu Suhao Holding Group Co., Ltd., a state-owned enterprise established in 1994[102]. - The company has a total of 227,000,000 H shares issued, with an additional 22,700,000 H shares sold by shareholders, listed on the Hong Kong Stock Exchange since December 30, 2015[102]. - The company issued 100,777,778 A shares, which were listed on the Shenzhen Stock Exchange on August 5, 2022, and has a total of 758,077,778 A shares outstanding as of the report date[101]. Honors and Recognition - The company received over 40 honors in 2023, including recognition as a "Leading Enterprise in High-Quality Development" in Jiangsu Province[88]. - The company received over 40 honors, including "Leading Enterprise in High-Quality Development" and "Outstanding Contribution Award for Rural Revitalization" in Jiangsu Province[162].

Financial Performance - The company's net cash flow from operating activities in 2023 was RMB -1.617 billion, a decrease of RMB 3.542 billion compared to RMB 1.925 billion in 2022[26]. - Operating revenue for 2023 reached RMB 194,322 million, an increase of 27.20% compared to RMB 152,775 million in 2022[139]. - Total profit for 2023 was RMB 1,047 million, a decrease of 34.17% from RMB 1,591 million in 2022[139]. - Net profit attributable to shareholders for 2023 was RMB 779 million, down 37.07% from RMB 1,238 million in 2022[139]. - Basic earnings per share for 2023 were RMB 0.0077, down from RMB 0.0132 in 2022[139]. - The weighted average return on net assets was 0.42% for 2023, compared to 4.84% in 2022[138]. - The company reported a net cash outflow from operating activities of RMB -161,715 million, a significant decline of 184.00% compared to RMB 192,509 million inflow in 2022[139]. - The company's total assets as of December 31, 2023, amounted to RMB 931,308 million, a decrease of RMB 117,085 million or 11.17% compared to 2022[159]. - The total liabilities were RMB 746,558 million, down by RMB 118,102 million or 13.66% from the previous year[159]. - The equity attributable to shareholders of the company was RMB 184,749 million, reflecting a slight increase of RMB 1,017 million or 0.55% year-on-year[159]. - The company's net capital as of December 31, 2023, was RMB 841 million, a decrease of RMB 73 million from RMB 914 million at the end of 2022[164]. - The company maintained a debt-to-asset ratio of 25% as of December 31, 2023, compared to 24% in 2022[159]. Business Operations - The company's securities brokerage business revenue increased by 164.73% year-on-year, with trading volume growing by 112.38%[36]. - The company has expanded its asset management business, becoming an investment advisor for multiple public funds and launching new fund products in collaboration with local brokers in Hong Kong[25]. - The group maintained its core business in futures brokerage, asset management, commodity trading, risk management, and financial asset investment without significant changes[40]. - The company launched over 20 new futures and options products in 2023, enhancing its service capabilities for risk management[172]. - The company reported a decrease in client equity payable of RMB 123,306 million or 15.27% year-on-year, totaling RMB 684,087 million[159]. - The company's market share in futures brokerage was 0.46%, with total trading volume of RMB 5.17392 trillion, down 21.25% from RMB 6.57001 trillion in 2022[173]. - The company’s commission rate for domestic comprehensive futures and options brokerage increased by 5.56% to 0.0038% in 2023[173]. - The company plans to expand its futures business scope and enhance its derivative trading capabilities following the anticipated release of the 2024 Futures Company Supervision and Management Measures[170]. Risk Management and Governance - The company has established a comprehensive risk management system covering all business processes and departments[12]. - The company has implemented strict investor suitability management to control credit risk and enhance investor education[6]. - The company actively enhances data security management and has implemented multiple security measures to protect customer information[10]. - The company’s governance structure includes a board of directors and a supervisory board, ensuring compliance with corporate governance codes[62]. - The company has established a comprehensive governance structure, including various specialized committees such as the Audit Committee and the Risk Management Committee[9]. - The company is subject to regulations from the China Securities Regulatory Commission, which oversees its operations[62]. - The company is committed to transparency and corporate governance, as evidenced by its compliance with public interest entity auditor regulations[100]. Strategic Initiatives - The company is committed to ESG responsibilities, laying a solid foundation for sustainable development and long-term value creation[10]. - The company aims to enhance core competitiveness and strengthen core functions, focusing on serving national strategies and local economies[82]. - The company is dedicated to promoting high-quality development and seizing new development opportunities[82]. - The company plans to create three service ecosystems targeting industrial clients, institutional clients, and retail investors[82]. - Emphasis on technological innovation to enhance customer experience and support rural revitalization initiatives[82]. - The company is actively pursuing market expansion and new product development, although specific figures were not disclosed in the provided content[62]. Capital Structure - The company issued a total of 100,777,778 A-shares, with a registered capital of RMB 1,007,777,778 after the IPO[18]. - The registered capital of the company increased to RMB 100,777.78 million, focusing on commodity futures brokerage, financial futures brokerage, and asset management services[116]. - The company completed a capital increase in January 2023, raising registered capital from RMB 39,000 million to RMB 50,000 million[131]. - The company has undergone several capital increases, with the registered capital reaching RMB 3.8 billion in 2011, maintaining the same equity structure[124]. - The company was renamed Jiangsu Holly Futures Co., Ltd. in 1999, with a registered capital of RMB 30 million after a capital increase[104]. - The company has a significant ownership structure, with Jiangsu Craft holding 94% and Pengcheng International holding 6% after the 1999 capital increase[104]. Awards and Recognition - The group received over 40 honors, including "Leading Enterprise in High-Quality Development" in Jiangsu Province[58].

Financial Performance - Total revenue for the reporting period was ¥180,039,956.97, a decrease of 17.33% compared to the same period last year[1] - Net profit attributable to shareholders was -¥6,216,092.79, an increase of 3.15% year-on-year, while year-to-date net profit decreased by 96.84% to ¥910,875.82[1] - Basic and diluted earnings per share were both -¥0.0062, reflecting an increase of 8.82% compared to the same period last year[1] - The company reported a significant decline in investment income, with a loss of -¥11,161,429.38 compared to a gain of ¥1,733,032.45 in the previous period[6] - Net profit fell by 96.84% to ¥910,875.82, primarily due to a decrease in total profit[41] - Total profit decreased by 95.14% to ¥1,811,265.89, attributed to a decline in net commission income and an increase in business and management expenses[41] - Other comprehensive income after tax decreased by 67.96% to ¥4,410,230.28, largely due to significant foreign exchange translation differences in the previous year[41] - Total comprehensive income for the period was 5,321,106.10, down from 42,603,462.04 in the previous period, representing a decline of approximately 87.5%[71] Cash Flow - The net cash flow from operating activities was -¥2,280,962,072.67, a significant decrease of 572.65% compared to the previous year[1] - Cash inflow from operating activities was ¥993,865,309.02, compared to ¥818,799,948.55 in the previous period[11] - Net cash flow from investment activities was -143,660,341.99, compared to -2,713,001.10 in the previous period, indicating a significant increase in cash outflow[73] - The company reported cash inflows from investment activities totaling 11,488,407,839.40, compared to 4,955,309,131.56 in the previous period, indicating a substantial increase[73] - Cash outflows from financing activities totaled 94,410,477.30, compared to 87,852,687.80 in the previous period, showing an increase in cash outflow[73] - The company experienced a foreign exchange impact on cash and cash equivalents of 4,559,973.19, compared to 18,641,250.72 in the previous period[73] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,467,243,864.02, a decrease of 19.24% from the end of the previous year[1] - Cash and cash equivalents decreased by 38.30% from RMB 6,348,666,153.74 at the end of 2022 to RMB 3,917,141,861.26[33] - Total liabilities decreased from 8,646,604,790.55 to 6,624,598,848.74, a reduction of approximately 23.4%[68] - Owner's equity increased from 1,837,323,909.18 to 1,842,645,015.28, reflecting a growth of about 0.3%[68] - The total assets reported were 8,467,243,864.02, down from 10,483,928,699.73, reflecting a decrease of approximately 19.3%[68] - The payable margin decreased to $6.05 billion from $7.09 billion, a reduction of about 14.6%[75] - The company reported a decrease in other payables from $149.44 million to $66.88 million, a decline of approximately 55.3%[75] Investments - Financial investments increased to $603.68 million as of September 30, 2023, from $558.85 million on January 1, 2023, representing an increase of approximately 8.2%[75] - Long-term equity investments rose slightly to $8.33 million from $8.25 million, showing a growth of about 1%[75] - The company reported a significant increase of 326.95% in funds lent, rising from RMB 5,953,971.21 to RMB 25,420,197.54[33] - Investment income turned negative at -¥11,161,429.38, a decline of 744.04% compared to the previous year, mainly due to losses from derivative financial instruments disposed of by Hongye Capital[41] Compliance and Reporting - The company guarantees the authenticity, accuracy, and completeness of the quarterly report[24] - The report is prepared in accordance with the relevant disclosure regulations applicable to listed companies on the Shenzhen Stock Exchange[15] - The company’s cash flow statement for the year-to-date period has not been audited[78] - The company has not applied the new accounting standards for the current reporting period[82]

Financial Performance - The company's operating revenue for the first half of 2023 was RMB 91,099 million, an increase of 21% compared to RMB 75,474 million in the same period of 2022[12] - Net profit attributable to shareholders for the first half of 2023 was RMB 713 million, a decrease of 80% from RMB 3,525 million in the same period of 2022[12] - In the first half of 2023, the company achieved operating revenue of RMB 793 million, a year-on-year increase of 31%, and a total profit of RMB 21.13 million, up 104% year-on-year[38] - The revenue for the first half of 2023 reached RMB 1.5 billion, representing a 20% growth compared to the same period last year[160] - The company has set a revenue guidance of RMB 3 billion for the full year 2023, which would mark a 30% increase from 2022[162] Asset and Liability Management - The total assets as of June 30, 2023, were RMB 961,687 million, down 8% from RMB 1,048,393 million at the end of 2022[15] - The company's total liabilities as of June 30, 2023, were RMB 776,720 million, a decrease of 10% from RMB 864,660 million at the end of 2022[15] - The company's net capital as of June 30, 2023, was RMB 746 million, a decrease of RMB 168 million from RMB 914 million at the end of 2022[22] - The asset structure remains stable, with current assets accounting for 95.59% of total assets, indicating strong liquidity[57] - The asset-liability ratio of the group was 24%, showing little change compared to the end of 2022[107] Client Engagement and Market Position - The company had a client equity of RMB 71.69 billion and an agency transaction volume of RMB 24,933.44 billion for the first half of 2023[27] - The average daily client equity increased by 7.03% year-on-year, indicating a stable growth in client engagement[60] - User data indicates a 25% increase in active clients, bringing the total to 500,000 as of June 30, 2023[161] - The company aims to achieve a client equity breakthrough of RMB 10 billion by enhancing market competitiveness and customer loyalty[45] Product Development and Innovation - The company launched 4 new asset management products during the reporting period, exceeding the industry average[37] - The company introduced 120 new fund products, increasing the total number of fund products to 2,020, with a sales scale of RMB 63.08 million[68] - The company is focusing on innovation in business models, particularly in futures and derivatives, to adapt to market changes and enhance profitability[61] - The company aims to enhance its asset management business by improving product diversity and strengthening active management capabilities, targeting sustainable asset value growth[72] Risk Management and Compliance - The company plans to optimize its risk management business by expanding coverage of basis trading and enhancing service depth for end enterprises, while controlling risks[74] - The company emphasizes liquidity management, focusing on the organic combination of safety, liquidity, and profitability of funds[110] - The company has implemented strict investor suitability management to assess new clients' identity, creditworthiness, and the adequacy of funds for futures trading[138] - The company actively manages market risks by adjusting hedging positions according to market changes[135] Strategic Initiatives and Future Plans - The company plans to expand its international business and enhance risk management while increasing the proportion of stable investments[46] - The company is exploring cross-border revenue swap business to enhance profitability and leverage its financial platforms[76] - The group plans to focus on the development of green low-carbon derivatives and enhance collaboration with industries such as chemicals, steel, textiles, and energy[104] - The company aims to increase its FOF (Fund of Funds) offerings, projecting a 40% growth in this segment by 2024[162] Employee and Organizational Structure - As of the reporting period, the total number of employees in the group was 671[129] - The total employee cost, including director remuneration, amounted to approximately RMB 83.37 million[145] - The company has established a comprehensive training program to enhance the professional skills and capabilities of its employees across various business lines[145] Legal and Regulatory Matters - There were no significant lawsuits or arbitration matters during the reporting period[195] - The company successfully defended against a lawsuit involving a claim for RMB 21 million in principal and RMB 5.04 million in interest, with the court ruling in favor of the company[196] - There were no unresolved significant lawsuits or arbitration matters during the reporting period[197] Financial Instruments and Investments - The company has not used financial instruments to hedge against exchange rate risks during the reporting period[112] - The total amount of funds raised from the public offering of A-shares was RMB 187.45 million, with a net amount of RMB 161.35 million after deducting issuance costs[122] - The company has allocated RMB 1.905 million of remaining funds for the purchase of IT equipment and software[120]