Financial Performance - The company reported a significant increase in revenue, achieving a total of 10 billion RMB, representing a year-over-year growth of 15%[9]. - Total revenue and other income for 2023 amounted to RMB 35,446.2 million, a decrease of 5.2% compared to RMB 37,398.2 million in 2022[64]. - Net profit attributable to shareholders of the parent company for 2023 was RMB 6,156.1 million, representing a decline of 19.0% from RMB 7,597.5 million in 2022[64]. - Basic earnings per share for 2023 were RMB 1.138, a decrease of 22.0% compared to RMB 1.459 in 2022[64]. - The overall expenses increased slightly by 1.1% to RMB 28,657.8 million, indicating controlled cost management amidst declining revenues[145]. - The company achieved a net profit of RMB 6,163.6 million, down 18.8% from the previous year[145]. Market Position and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2024[9]. - The company aims to build a first-class investment bank, drawing on its 28 years of experience in the capital market[18]. - The company aims to enhance its core competitiveness and become a leading investment bank with international competitiveness, focusing on supporting the real economy and promoting capital market reforms[82]. - The company has established a strong brand image and reputation in the financial services industry, maintaining high standards and actively participating in capital market reforms[84]. Client and User Engagement - User data showed an increase in active users by 20%, reaching 5 million users in the latest quarter[9]. - The company serves nearly 7 million clients, providing professional investment advisory services to help them navigate market changes and understand economic cycles[27]. - The total number of wealth management clients increased by 17% year-on-year to 6.8038 million, with total client account assets valued at RMB 288 billion, up 4.3%[128]. Investment and Growth Initiatives - New product launches are expected to contribute an additional 1 billion RMB in revenue over the next fiscal year[9]. - Research and development investments increased by 30%, totaling 500 million RMB, focusing on innovative financial technologies[9]. - The company completed a strategic acquisition of a fintech startup for 2 billion RMB, enhancing its service offerings[9]. - The company is exploring new partnerships to enhance its investment banking services, aiming for a 10% increase in client base[9]. Sustainability and Social Responsibility - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 40% by 2025[9]. - The company emphasizes a "financial + public welfare" approach, actively engaging in social responsibility initiatives and rural revitalization projects[29]. Awards and Recognition - The company received multiple awards in 2023, including "Best Securities Company" and "Best Local Broker" in various categories[55]. - CICC ranked 1st in the Best National Fund and Best State-owned Direct Investment Institution categories in the 2023 Annual List by the Fund of Funds Research Center[58]. - CICC was awarded the ESG Pioneer Award and recognized among the Top 30 Brand Value of Listed Securities Companies in the 2023 Golden Ding Awards[59]. Financial Health and Risk Management - The total assets of the company reached RMB 624,306.6 million, with net assets amounting to RMB 104,603.3 million[20]. - The company emphasizes risk management across various dimensions, including market, credit, liquidity, operational, and compliance risks[17]. - The asset-liability ratio decreased by 1.5 percentage points to 80.6% in 2023 from 82.1% in 2022[64]. Digital Transformation and Innovation - The digital strategy has shown progress with the orderly advancement of key digital platforms, including wealth management and asset management research platforms[28]. - The company plans to strengthen its digital transformation and enhance its capabilities in the digital economy to support internationalization efforts[117]. Economic Context - China's GDP grew by 5.2% in 2023, significantly higher than the 3.0% growth in 2022, with final consumption expenditure contributing 82.5% to economic growth[73]. - The average daily trading volume of A-shares reached RMB 874.41 billion in 2023, indicating a stable market environment despite challenges[78].

证券代码：601995 证券简称：中金公司 公告编号：临 2024-019 中国国际金融股份有限公司 关于取消 2024 年第一次临时股东大会及相关后续安排的公告 中国国际金融股份有限公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 取消股东大会的相关情况 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | Ａ股 | 601995 | 中金公司 | 2024/2/19 | 二、 取消股东大会的原因 中国国际金融股份有限公司（以下简称"公司"或"中金公司"）于 2024 年 4 月 10 日召开第二届董事会第四十一次会议，董事会同意取消原定于 2024 年 4 月 19 日召开的 2024 年第一次临时股东大会，并将公司董事会及监事会换届选举相 关议案提交公司 2023 年年度股东大会审议。本次董事会的召开及决议情况请见 与本公告同日在上海证券交易所网站（www.sse.com.cn）披露的《中金公司第二 届董事会第四十一次会议决议暨高级管理人员变动公告》。 三 ...

证券代码：601995 证券简称：中金公司 公告编号：临 2024-017 中国国际金融股份有限公司 关于股东减持计划实施期限届满暨实施情况的公告 本次减持计划实施情况：在本次减持计划实施期限内，海尔金盈通过大 宗交易方式减持 96,517,000 股公司 A 股股份，约占公司总股本的 1.9994%。截至 本公告披露日，本次减持计划的实施期限已届满。 股东持股基本情况：截至本公告披露日，海尔金盈在中国证券登记结算 有限责任公司（以下简称"中国结算"）上海分公司登记的持有公司股份数量为 106,026,300 股，约占公司总股本的 2.1964%。 2024 年 4 月 10 日，公司收到股东海尔金盈出具的《关于减持计划实施期限 届满暨实施情况的通知》（以下简称"《通知》"），现将具体情况公告如下： 注：海尔金盈确认，截至《通知》出具之日，其在持有公司股份方面无一致行动人。 1 一、股东实施本次减持计划前的基本持股情况 股东名称 股东身份 持股数量（股） 持股比例 当前持股股份来源 海尔集团（青岛） 金盈控股有限公司 5%以下股东 202,543,300 4.20% IPO 前取得：202,543,300 股 ...

二、董事会会议审议及高级管理人员变动情况 （一）《关于调整第三届董事会执行董事提名人选及相关股东大会安排的议 案》 表决结果：8 票赞成，0 票反对，0 票弃权。 因工作变动，董事会同意如下调整： 证券代码：601995 证券简称：中金公司 公告编号：临 2024-018 中国国际金融股份有限公司 第二届董事会第四十一次会议决议暨高级管理人员变动公告 中国国际金融股份有限公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中国国际金融股份有限公司（以下简称"公司"）于 2024 年 4 月 8 日以书面 方式发出第二届董事会第四十一次会议（以下简称"本次会议"）通知，并于 2024 年 4 月 10 日完成书面投票并形成会议决议。本次会议应参与表决董事 8 名，实 际参与表决董事 8 名。全体董事同意豁免本次会议的通知期限。本次会议的召集、 召开及表决程序符合有关法律法规和《中国国际金融股份有限公司章程》的规定。 表决结果：8 票赞成，0 票反对，0 票弃权。该议案为分项表决。 1、撤销对吴波先生的第三届董事 ...

Investment Rating - The investment rating for the company is maintained at "Buy - A" [3][7]. Core Views - The company reported a total revenue of 23 billion yuan in 2023, representing a year-on-year increase of 11.87%, while the net profit attributable to shareholders was 6.2 billion yuan, down 18.97% year-on-year [1]. - The wealth management segment has shown resilience, with a total client base of 6.8 million, an increase of 17% year-on-year, and total client account assets reaching 2.88 trillion yuan, up 4% year-on-year [2]. - The company is expected to benefit as a leading brokerage amid tightening regulations and increasing industry competition [7]. Summary by Sections Financial Performance - In 2023, the company achieved a weighted average ROE of 6.43%, down 2.45 percentage points year-on-year, with an EPS of 1.138 yuan, a decrease of 21.99% year-on-year [1]. - The brokerage, investment banking, asset management, credit, and proprietary trading segments generated net revenues of 4.5 billion yuan, 3.7 billion yuan, 1.2 billion yuan, -1.3 billion yuan, and 10.6 billion yuan respectively, with declines in investment banking and credit segments [1]. Business Segments - The stock business revenue fell by 12% to 5.3 billion yuan, while fixed income revenue decreased by 19% to 2.5 billion yuan, primarily due to reduced commission income and increased interest expenses [1]. - The asset management division saw a contraction in scale, with total assets under management at 552.6 billion yuan, down 21% year-on-year, while the mutual fund segment grew by 25% to 138.5 billion yuan [1][2]. Wealth Management - The wealth management business has continued to grow, with a product holding scale of approximately 350 billion yuan, marking four consecutive years of positive growth [2]. - The company has established a strong international presence, with significant cross-border settlement volumes and a leading position in the Hong Kong IPO market [2]. Market Position - The company ranked fourth in the domestic IPO underwriting market with a scale of 32.2 billion yuan, down 39% year-on-year, and third in refinancing with 49.3 billion yuan, down 61% year-on-year [2]. - In the offshore market, the company led the market as a sponsor and global coordinator for Hong Kong IPOs, with a scale of 1.2 billion USD [2].

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of HKD 12.6 [1][3]. Core Views - The company's performance in 2023 met expectations, although both domestic and international market conditions have shown a decline in activity [1]. - The company's total revenue for 2023 was HKD 22.99 billion, a year-on-year decrease of 11.9%, while net profit attributable to shareholders was HKD 6.16 billion, down 19% year-on-year [1][4]. - The return on equity (ROE) was 6%, a decrease of 2.2 percentage points compared to the previous year [1]. Summary by Sections Revenue Composition - Light asset business contributed 52.6% of total revenue, down 8.5 percentage points year-on-year, while brokerage, investment banking, and asset management revenues fell by 13.4%, 47.2%, and 11.2% respectively [1]. - Heavy asset business accounted for 40.1% of total revenue, an increase of 3.4 percentage points year-on-year, with proprietary trading and credit business revenues decreasing by 0.5% and 30.5% respectively [1]. Brokerage Business - The average daily trading volume in the market was HKD 877.2 billion, a decline of 5.23% year-on-year, leading to a decrease in brokerage fee income to HKD 4.53 billion, down 13.4% [2]. - The company's A-share IPO underwriting amount was HKD 32.24 billion, a significant drop of 58.6% year-on-year, while refinancing underwriting fell by 34% to HKD 82.54 billion [2]. Asset Management - The asset management scale contracted to HKD 656.88 billion, a decrease of 19.5% year-on-year, with asset management fee income at HKD 1.21 billion, down 11.2% [2]. Heavy Asset Business - Proprietary trading assets slightly increased to HKD 350.3 billion, with a yield of 3.99%, while proprietary trading income remained stable at HKD 10.56 billion, down 0.5% [3]. - The company's margin financing balance grew to HKD 35.81 billion, an increase of 13.2% year-on-year, leading to a slight rise in market share to 2.17% [3]. Earnings Forecast - The report projects earnings per share (EPS) for 2024, 2025, and 2026 to be HKD 1.51, HKD 1.85, and HKD 2.16 respectively, with book value per share (BPS) expected to be HKD 19.33, HKD 20.76, and HKD 22.43 [3][4].

致：香港交易及結算所有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 公司名稱: 中國國際金融股份有限公司 呈交日期: 2024年4月2日 I. 法定/註冊股本變動 截至月份: 2024年3月31日 狀態: 新提交 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 03908 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,903,714,428 | RMB | | 1 RMB | | 1,903,714,428 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,903,714,428 | RMB | | 1 RMB | | 1,903,714,428 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [2][6] Core Views - The company maintains a solid leading position in the investment banking sector, with wealth management rapidly growing through product, service, and model innovation, as well as financial technology empowerment. The reasonable value range is estimated at HKD 14.25-16.29, maintaining the "Outperform the Market" rating [5][6]. Summary by Sections Financial Performance - In 2023, the company achieved operating revenue of CNY 22.99 billion, a year-on-year decrease of 11.9%, and a net profit attributable to shareholders of CNY 6.16 billion, down 19.0%. The corresponding EPS is CNY 1.28, with an ROE of 6.43%, a decrease of 2.45 percentage points year-on-year. In Q4, the company reported operating revenue of CNY 5.52 billion, down 17.5% year-on-year but up 9.5% quarter-on-quarter. The net profit for Q4 was CNY 1.55 billion, down 2.3% year-on-year but up 47.9% quarter-on-quarter, mainly due to increased investment banking and proprietary income, along with reduced management expenses [5][6]. Brokerage and Wealth Management - Brokerage income decreased to CNY 4.53 billion in 2023, down 13.4% year-on-year, accounting for 19.7% of total revenue. The average daily trading volume in the market was CNY 962.5 billion, down 4.0% year-on-year. Wealth management continues to grow, with a product retention scale of approximately CNY 350 billion, marking four consecutive years of positive growth. The income from selling financial products was CNY 1.26 billion, up 3.5% year-on-year, representing 27.7% of brokerage income, an increase of 4.5 percentage points year-on-year [5][6]. Investment Banking - The company ranks high in investment banking, with a significant increase in bond underwriting scale and a rich IPO pipeline. In 2023, investment banking revenue was CNY 3.70 billion, down 47.2% year-on-year. The bond underwriting scale reached CNY 1,155.9 billion, up 27.6% year-on-year, ranking third. The company has 43 IPO projects in reserve, ranking fourth [6][7]. Asset Management - The asset management income for 2023 was CNY 1.21 billion, down 11.2% year-on-year, with an asset management scale of CNY 552.6 billion, a decrease of 21.3% year-on-year [6][7]. Investment Returns - The company's total investment income (including fair value) for 2023 was CNY 10.56 billion, down 0.5% year-on-year. In Q4, investment income was CNY 3.58 billion, up 3.0% year-on-year and up 40.4% quarter-on-quarter [6][7]. Future Projections - The company expects EPS for 2024-2026 to be CNY 1.18, CNY 1.44, and CNY 1.53, respectively. The reasonable value range for 2024 is estimated at CNY 13.16-15.04, corresponding to HKD 14.25-16.29 [6][7].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 45.25 CNY [5] Core Viewpoints - The company's derivative business is steadily expanding, while fee-based businesses are under pressure [1] - The company's international business is leading, and its wealth management business is expected to recover with the rebound in the equity market [3] - The company's investment income has increased year-on-year, and the scale of derivatives has steadily grown [2] Financial Performance Summary - In 2023, the company achieved a total operating income of 23 billion CNY, a year-on-year increase of 12%, and a net profit attributable to the parent company of 6.2 billion CNY, a year-on-year decrease of 19% [1] - The ROE for 2023 was 6.43%, a decrease of 2.45 percentage points compared to the previous year [1] - The company's investment net income (including exchange gains) in 2023 was 11.9 billion CNY, a year-on-year increase of 9% [2] Business Segment Analysis - Brokerage business: Net fee income from brokerage business in 2023 was 4.5 billion CNY, a year-on-year decrease of 13% [1] - Asset management business: Net fee income from asset management business in 2023 was 1.2 billion CNY, a year-on-year decrease of 11% [1] - Investment banking business: Net fee income from investment banking business in 2023 was 3.7 billion CNY, a year-on-year decrease of 47% [1] - Investment business: The company's financial asset investment scale reached 362.3 billion CNY by the end of 2023, an increase of 2% compared to the beginning of the year [2] Financial Forecast - The company's revenue is expected to be 24 billion CNY, 26 billion CNY, and 27.5 billion CNY in 2024, 2025, and 2026, respectively [3] - The net profit attributable to the parent company is expected to be 6.6 billion CNY, 7.4 billion CNY, and 8.6 billion CNY in 2024, 2025, and 2026, respectively [3] - The EPS is expected to be 1.37 CNY, 1.52 CNY, and 1.78 CNY in 2024, 2025, and 2026, respectively [3] Valuation Metrics - The company's P/E ratio is expected to be 23.40, 21.02, and 17.97 in 2024, 2025, and 2026, respectively [4] - The company's P/B ratio is expected to be 1.42, 1.35, and 1.18 in 2024, 2025, and 2026, respectively [4]

Investment Rating - The report maintains an "Accumulate" rating for the company with a current price of 32.21 CNY [1] Core Views - The company's revenue and profit have significantly declined in 2023, with total revenue of 22.99 billion CNY, down 11.87% year-on-year, and net profit attributable to shareholders of 6.16 billion CNY, down 18.97% year-on-year [4][5] - The company is expected to benefit from the comprehensive registration system reform and the institutionalization of the A-share market, which may catalyze performance and valuation recovery [6] Summary by Sections Financial Performance - In 2023, the company achieved operating revenue of 22.99 billion CNY, a decrease of 11.87% year-on-year, and a net profit of 6.16 billion CNY, down 18.97% year-on-year [4][5] - The weighted average ROE for 2023 was 6.43%, a decrease of 2.45 percentage points year-on-year, with basic earnings per share of 1.138 CNY [4] Business Segments - The revenue contribution from proprietary trading, brokerage, investment banking, and asset management was 46.1%, 19.7%, 16.1%, and 5.3% respectively, with brokerage business revenue declining due to market conditions [5] - The investment banking segment saw a net income decline of 47.2%, with the company underwriting 17 A-share IPO projects totaling 32.25 billion CNY, holding a market share of 9% [5] Future Outlook - The company is projected to recover with expected net profits of 7.05 billion CNY in 2024, reflecting a growth rate of 14.57% [7] - The report anticipates a gradual recovery in the capital market, which may enhance the company's performance and valuation [6]