Dividend Distribution - The company plans to distribute a cash dividend of RMB 3,142,550,214.67, which translates to RMB 3.10 per share based on a total share capital of 10,137,258,757 shares[3]. Risk Management - The company faces significant risks due to reliance on the overall economic and market conditions in China and other regions, with potential impacts from major fluctuations in capital markets[5]. - The company has implemented risk management strategies focusing on organizational structure, management mechanisms, and information technology to mitigate various risks[5]. - The company emphasizes the importance of compliance with national laws and regulations to avoid legal and compliance risks[5]. - The company is committed to optimizing business processes to control operational risks and manage market and credit risks effectively[5]. - The company’s overall risk management is effective, with no significant risks occurring during the reporting period[146]. - The group’s Value at Risk (VaR) is reported at RMB 145 million, indicating controlled market risk exposure[148]. - The average maintenance guarantee ratio for margin financing clients is 286%, while the average performance guarantee ratio for stock pledge repurchase clients is 355%, reflecting low credit risk[150]. - The company has established a liquidity risk indicator system, with sufficient high-quality liquid assets and reserves, ensuring liquidity risk remains controllable[151]. - The company has implemented a comprehensive operational risk management system, with no significant operational risk events reported during the period[152]. - The company has developed a robust cybersecurity management system, ensuring the stability and security of critical information technology systems[154]. - The company has established a comprehensive risk management framework, including risk preference, tolerance, and major risk limits to ensure effective implementation[163]. Financial Performance - The company’s total revenue for 2021 reached ¥35,983,985,285.28, representing a 51.52% increase compared to ¥23,749,151,575.19 in 2020[36]. - Net profit attributable to shareholders of the parent company was ¥10,430,238,562.65, a 43.99% increase from ¥7,243,654,385.20 in the previous year[36]. - The net cash flow from operating activities was ¥57,084,741,157.32, up 51.40% from ¥37,703,981,462.14 in 2020[36]. - Total assets at the end of 2021 were ¥560,135,032,623.76, a 25.67% increase from ¥445,730,215,827.42 at the end of 2020[37]. - Total liabilities increased by 26.79% to ¥461,156,981,445.01 from ¥363,722,158,087.51 in 2020[37]. - Basic earnings per share for 2021 were ¥0.97, reflecting a 36.62% increase from ¥0.71 in 2020[38]. - The weighted average return on equity rose to 12.29%, an increase of 2.45 percentage points from 9.84% in 2020[38]. Business Expansion and Qualifications - The company holds various qualifications, including being a member of both the Shanghai and Shenzhen Stock Exchanges, which enhances its operational capabilities[17]. - The company has expanded its business qualifications to include internet securities business pilot qualifications and private fund management qualifications[18]. - The company has established a comprehensive service framework for insurance institutional investors, indicating a strategic focus on diversifying its service offerings[19]. - The company is actively involved in cross-border business pilot qualifications, reflecting its commitment to expanding its market reach[19]. - The company has maintained a strong position in the market with various trading qualifications, including for gold spot contracts and crude oil futures[19]. - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[1]. Corporate Governance - The company has established a comprehensive corporate governance structure to support its strategic development[27]. - The company has revised 17 governance documents to ensure compliance with legal and regulatory requirements, enhancing governance mechanisms[170]. - The company emphasizes timely and accurate information disclosure to protect investor rights and interests[171]. - The company has a clear organizational structure with distinct responsibilities among departments, independent from its controlling shareholders[173]. Shareholder Meetings and Management Changes - In 2021, the company held four shareholder meetings, including the annual meeting on June 29, where key reports and financial resolutions were approved[175]. - The company approved the issuance of A-share convertible bonds during the temporary shareholder meeting on October 19, 2021, to raise funds for future projects[176]. - The company has seen a significant turnover in its management team, with multiple executives leaving during the reporting period, including the Vice President and Chief Risk Officer[179]. - The company’s board of directors and supervisory board underwent a restructuring process during the annual general meeting[196]. Investment and Strategic Plans - The company plans to enhance multi-channel customer acquisition and develop ecological partnerships in 2022, focusing on comprehensive financial services[50]. - The company aims to optimize its credit business by increasing the supply of securities and expanding its professional client base in 2022[50]. - The company plans to expand its investment in strategic emerging industries and new infrastructure projects in line with the national "14th Five-Year Plan" strategy[81]. - The company aims to enhance its merger and acquisition capabilities and leverage state-owned enterprise integration opportunities in 2022[72]. - The company is committed to building a comprehensive financial service provider in the securities industry, focusing on wealth management and investment banking services[92]. Sustainability and Future Outlook - The company is committed to sustainability, with plans to invest $100 million in green technologies over the next five years[185]. - Future guidance indicates a commitment to sustainable practices, with a goal of reducing carbon emissions by J% over the next five years[181]. - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[190].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥10,963,209,880.83, representing a year-on-year increase of 59.65%[3] - Net profit attributable to shareholders for the same period was ¥3,145,750,500.23, up 49.93% compared to the previous year[3] - The net profit after deducting non-recurring gains and losses was ¥3,147,667,027.26, reflecting a growth of 49.76% year-on-year[3] - Basic earnings per share for Q3 2021 were ¥0.29, an increase of 38.10% compared to the same period last year[4] - The company's total revenue for the first three quarters of 2021 was RMB 26.10 billion, up 44.4% from RMB 18.08 billion in the same period of 2020[16] - Net income attributable to shareholders reached ¥7,400,639,134.02, up from ¥5,650,638,803.29, representing a growth of approximately 31% year-over-year[18] - Total operating income was ¥10,027,358,217.27, compared to ¥4,431,180,656.65 in the previous year, indicating a significant increase of about 126%[17] - Operating profit increased to ¥9,333,553,973.84 from ¥7,287,666,831.46, reflecting a growth of approximately 28%[17] - The company achieved a total comprehensive income of ¥7,918,545,755.48, compared to ¥4,984,371,227.66 in the previous year, indicating an increase of about 59%[18] Assets and Liabilities - Total assets as of September 30, 2021, amounted to ¥529,166,037,252.54, an increase of 18.72% from the end of the previous year[4] - The company reported a total liability of RMB 432.15 billion as of September 30, 2021, an increase from RMB 363.72 billion at the end of 2020, which is a rise of approximately 18.8%[16] - The company's total equity attributable to shareholders reached ¥96,143,375,412.57, up 18.32% from the previous year[4] - The company's cash and cash equivalents amounted to RMB 106.36 billion as of September 30, 2021, compared to RMB 92.73 billion at the end of 2020, indicating a growth of 14.7%[15] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥45,132,830,266.46, showing a growth of 47.87%[3] - The net cash flow from operating activities for the first three quarters was ¥45,132,830,266.46, compared to ¥30,521,383,596.40 in the same period last year, marking an increase of about 48%[19] - Cash inflow from financing activities totaled approximately ¥78.77 billion, a decrease from ¥122.32 billion in the previous period, resulting in a net cash outflow of approximately ¥4.85 billion[20] - The net increase in cash and cash equivalents for the period was approximately ¥10.57 billion, down from ¥23.27 billion in the previous period[20] Income Sources - Net interest income increased by 30.96% year-on-year to CNY 4,125,790,629.42, driven by the expansion of margin financing and other debt investment businesses[7] - The company reported a total revenue of ¥20,683,944,974.60 from interest, fees, and commissions, up from ¥18,278,581,547.20, which is an increase of approximately 12%[19] - The company reported a significant increase in brokerage fees, with net income from brokerage business reaching ¥6,684,258,243.62, up from ¥5,615,743,511.03, which is an increase of approximately 19%[17] Other Financial Metrics - The weighted average return on equity for Q3 2021 was 3.68%, an increase of 0.82 percentage points year-on-year[4] - The company reported a significant increase in client settlement reserves, which rose by 47.60% to ¥25,954,063,770.46[6] - Other business income rose by 126.29% to CNY 10,027,358,217.27, primarily due to increased sales revenue from subsidiaries in bulk commodities[7] - Fair value changes in income surged by 966.02% to CNY 518,949,067.02, attributed to the growth in financial investments and value fluctuations[7] - Credit impairment losses were reversed, resulting in a gain of CNY 51,160,283.29, compared to a loss of CNY 108,161,492.06 in the previous year[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,959, with no preferred shareholders restoring voting rights[8] - The top ten shareholders held a combined 51.16% of the shares, with China Galaxy Financial Holdings Limited being the largest shareholder[9] Corporate Actions - The company plans to publicly issue A-share convertible bonds totaling no more than RMB 11 billion, which was approved at the first extraordinary general meeting on October 19, 2021[13] - The company completed the change of its registered address on October 8, 2021, updating its corporate documents accordingly[14] - The company has elected a new supervisor to the fourth supervisory board during the extraordinary general meeting held on October 19, 2021[14]

Financial Performance - China Galaxy Securities reported a net profit of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[2]. - Revenue for the first half of 2021 reached RMB 19,457,793 thousand, a 34.00% increase compared to RMB 14,520,567 thousand in the same period of 2020[10]. - Profit before tax increased by 16.77% to RMB 5,349,340 thousand from RMB 4,581,071 thousand year-on-year[10]. - Net profit attributable to shareholders rose by 19.77% to RMB 4,254,888 thousand, up from RMB 3,552,441 thousand in the previous year[10]. - The firm reported a return on equity (ROE) of 8.5% for the first half of 2021, up from 7.8% in the same period last year[2]. - The company's operating income and net profit for the reporting period were RMB 19.458 billion and RMB 4.255 billion, respectively, representing year-on-year growth of 34.00% and 19.77%[42]. - The company achieved a net income of RMB 2.47 billion in the first half of 2021, a year-on-year increase of 6.94%[44]. - The company's net profit attributable to owners was RMB 4.26 billion, representing a year-on-year increase of 19.77%[76]. Asset and Liability Management - The company's total assets reached RMB 150 billion as of June 30, 2021, up 10% compared to the end of 2020[2]. - Total assets as of June 30, 2021, were RMB 487,195,720 thousand, reflecting a 9.30% increase from RMB 445,730,215 thousand at the end of 2020[11]. - Total liabilities increased by 8.24% to RMB 393,710,588 thousand from RMB 363,722,157 thousand at the end of 2020[11]. - Equity attributable to shareholders rose by 14.11% to RMB 92,719,761 thousand from RMB 81,254,531 thousand at the end of 2020[11]. - The asset-liability ratio slightly decreased to 75.25%, down 1.19 percentage points from the end of 2020[73]. - The total scale of equity financing activities, including IPOs and other methods, reached RMB 7,832.30 billion, a 20.75% increase year-on-year[29]. Market Position and Growth - The brokerage's market share in the securities trading sector increased to 6.5%, reflecting a growth of 0.5 percentage points from the previous year[5]. - User accounts grew to 1.5 million, an increase of 20% year-on-year, indicating strong customer acquisition efforts[5]. - Future guidance indicates a projected revenue growth of 12% for the full year 2021, driven by increased trading volumes and new service offerings[2]. - The firm aims to launch three new financial products in the next quarter, focusing on fixed income and equity derivatives[2]. - The company has initiated discussions for potential mergers and acquisitions to strengthen its market position in the Asia-Pacific region[2]. Investment and Technology - China Galaxy Securities is investing in new technology platforms to enhance trading efficiency, with an expected budget of RMB 200 million for 2021[2]. - The company has established a strong channel network with 499 securities business outlets across 31 provinces, autonomous regions, and municipalities in China[39]. - The company has a strategy to expand its market presence through the issuance of various types of bonds, including perpetual and short-term financing bonds[97]. Risk Management - The company emphasizes a robust risk management culture, continuously enhancing its comprehensive risk management system and internal control mechanisms[108]. - The company has implemented a comprehensive risk management framework that integrates risk management across all business processes, including pre-business risk assessments and ongoing monitoring[125]. - The company actively monitors liquidity risk, with all financial indicators remaining strong and liquidity risk regulatory indicators continuously meeting regulatory requirements[117]. - The company has established a disaster recovery system with local and remote backups to ensure network physical environment security[119]. Corporate Governance - The company maintains a strong commitment to corporate governance, ensuring compliance with laws and regulations[160]. - The board of directors consists of 11 members, including 2 executive directors, 5 non-executive directors, and 4 independent non-executive directors[162]. - The company strictly adheres to the Corporate Governance Code, complying with all provisions except for A.4.2, which relates to the nomination of board members[160]. Social Responsibility - The company plans to invest RMB 48.1 million in poverty alleviation efforts in 2021, with RMB 35.5 million already allocated to Gansu Province's Jingning County[144]. - The company has established a carbon neutrality research team to promote carbon neutrality strategies and has published approximately 20 reports related to carbon neutrality[141]. - The company has implemented measures to reduce carbon emissions, including optimizing office resource consumption and encouraging public transportation for employees[142].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥15,139,762,170.28, representing a 35.01% increase compared to the same period last year[22]. - The net profit attributable to shareholders of the parent company was ¥4,254,888,633.79, up 19.77% year-on-year[22]. - The net cash flow from operating activities decreased by 13.25% to ¥28,276,053,814.89 compared to the previous year[22]. - Total assets at the end of the reporting period amounted to ¥487,195,718,644.85, reflecting a 9.30% increase from the end of the previous year[22]. - Total liabilities increased by 8.24% to ¥393,710,587,360.10 compared to the previous year[22]. - The equity attributable to shareholders of the parent company rose by 14.11% to ¥92,719,761,370.67[22]. - The earnings per share attributable to shareholders of the parent company was ¥7.68, an increase of 1.99% from the previous year[22]. - Basic earnings per share for the reporting period (January to June) increased to CNY 0.40, up 14.29% from CNY 0.35 in the same period last year[23]. - The weighted average return on equity rose to 5.11%, an increase of 0.22 percentage points compared to 4.89% in the same period last year[23]. - The total scale of equity financing activities, including IPOs and private placements, was CNY 783.23 billion, reflecting a year-on-year growth of 20.75%[34]. Risk Management - The company faces various risks including legal and compliance risks, strategic planning risks, operational and management risks, market risks, credit risks, and liquidity risks[4]. - The company has implemented risk prevention measures across organizational structure, management mechanisms, and information technology[4]. - The company emphasizes the importance of monitoring risks associated with innovative businesses and products[4]. - The company has implemented a comprehensive risk management system, enhancing risk management tools and information systems to support sustainable business development[89]. - The company actively monitors liquidity risk, with all financial indicators remaining strong and compliant with regulatory requirements[86]. - The company has adopted various measures to manage market risks, including portfolio construction and the use of financial derivatives for effective hedging[85]. - The company emphasizes compliance risk management, establishing a comprehensive internal control mechanism to ensure legal and regulatory compliance[86]. - The company has a robust approach to operational risk management, including regular evaluations of internal controls and compliance management effectiveness[86]. Corporate Governance - The board of directors and senior management have confirmed the accuracy and completeness of the financial report[2]. - The company held its 2020 Annual General Meeting on June 29, 2021, where multiple resolutions were passed, including the approval of the 2020 annual report and financial statements[99]. - The company elected new members to its fourth board of directors and supervisory board during the 2021 Annual General Meeting[101]. - The company’s board of directors established several committees, including the Strategic Development Committee and the Audit Committee, to enhance governance[102]. - The company has adopted the Corporate Governance Code and confirmed compliance by all directors and supervisors during the reporting period[149]. Environmental and Social Responsibility - The company plans to invest RMB 48.1 million in poverty alleviation efforts in 2021, with RMB 35.5 million already allocated to Gansu Province's Jingning County[112]. - The company has underwritten a total of RMB 60.4 billion in green bonds, with its share amounting to RMB 18.21 billion[108]. - The company has published approximately 20 reports related to carbon neutrality, including strategy research and market policy interpretations[109]. - The company has established a carbon neutrality research team to support national goals of carbon peak and carbon neutrality[109]. - The company has received national and provincial recognition for its poverty alleviation efforts, including awards for its contributions in Jingning County[114]. Operational Highlights - The number of brokerage clients reached 12.83 million, a year-on-year increase of 10.2%[48]. - The revenue from brokerage, sales, and trading business was RMB 11.441 billion, up 45.39% year-on-year[47]. - The company’s derivative financial assets increased by 43.40% to RMB 1.247 billion, driven by the growth in equity derivatives[38]. - The company achieved a weighted average return on equity of 5.11%, an increase of 0.22 percentage points year-on-year[46]. - The company’s alternative asset investment segment generated operating revenue of RMB 1.57 billion, with a net profit of RMB 0.97 billion[58]. Financial Position - The company's total assets reached RMB 487.196 billion, an increase of 9.30% compared to the end of 2020[71]. - Cash and cash equivalents amounted to RMB 100.123 billion, accounting for 20.55% of total assets[71]. - The company's total liabilities reached RMB 490.000 billion, with a notable increase in other liabilities by 65.84%[71]. - The company's total debt, including bonds payable, was RMB 62.31 billion, down from RMB 65.67 billion, indicating a decrease of approximately 5.4%[187]. - The company reported a significant increase in other equity instruments to RMB 14.89 billion from RMB 4.96 billion, reflecting a growth of approximately 200%[187]. Cash Flow Analysis - Net cash inflow from operating activities was RMB 77.416 billion, accounting for 50.08% of total cash inflows, with cash received from interest, fees, and commissions at RMB 11.315 billion, representing 14.62%[66]. - Cash outflow from operating activities was RMB 49.140 billion, with net cash outflow for financial assets held for trading at RMB 12.764 billion, accounting for 25.98%[66]. - The company reported a net increase in cash and cash equivalents of RMB 15.88 billion, compared to RMB 25.19 billion in the same period last year, indicating a decrease of approximately 37%[200]. - The ending balance of cash and cash equivalents stood at RMB 110.01 billion, up from RMB 96.10 billion year-on-year, representing an increase of about 14%[200]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 105,747[154]. - The top ten shareholders hold a total of 5,186,538,364 shares, representing 51.16% of the company[156]. - The largest shareholder, China Galaxy Financial Holdings, holds 5,186,538,364 shares, with no restricted shares[156]. - The report indicates no changes in the major shareholders or actual controllers during the reporting period[160].

Financial Performance - Operating revenue rose by 35.65% to CNY 7.58 billion compared to the same period last year[4] - Net profit increased by 13.20% to CNY 1.99 billion year-on-year[4] - Basic earnings per share increased by 17.65% to CNY 0.20 per share[4] - Total operating revenue for Q1 2021 was CNY 7,579,622,186.24, a 35.7% increase from CNY 5,587,610,547.01 in Q1 2020[18] - Net profit attributable to shareholders was CNY 1,985,123,766.89, a 13.2% increase from CNY 1,753,641,667.60 in Q1 2020[19] - Total profit was CNY 2,492,950,477.08, an increase from CNY 2,283,529,613.82 in the previous year[18] Assets and Liabilities - Total assets increased by 2.83% to CNY 458.36 billion compared to the end of the previous year[4] - The company’s total liabilities increased by 11.07% to ¥97,865,936,233.11, primarily due to the growth in pledged repurchase business[10] - The total liabilities as of March 31, 2021, were ¥369.51 billion, compared to ¥363.72 billion at the end of 2020, showing an increase of about 1.1%[14] - The equity attributable to shareholders rose to ¥88.08 billion from ¥81.25 billion, marking an increase of approximately 8.5%[14] - The total cash and cash equivalents at the end of Q1 2021 amounted to CNY 95,055,320,596.54, slightly down from CNY 98,966,980,475.66 at the end of Q1 2020[23] Cash Flow - Net cash flow from operating activities decreased by 56.68% to CNY 9.14 billion compared to the previous year[4] - Cash inflow from operating activities totaled CNY 35,614,031,260.02 in Q1 2021, down from CNY 45,538,336,500.22 in Q1 2020, representing a decline of about 21.8%[22] - The net cash flow from operating activities was CNY 9,144,476,447.12, significantly lower than CNY 21,111,502,558.03 in the previous year, indicating a decrease of approximately 56.7%[22] - Cash inflow from investment activities reached CNY 9,650,314,315.93, an increase from CNY 7,094,657,282.36 in Q1 2020, marking an increase of about 36.0%[22] - The net cash flow from financing activities was negative CNY 5,769,509,283.35, compared to a positive CNY 11,502,627,406.74 in Q1 2020, indicating a significant shift in financing strategy[23] Shareholder Information - The total number of shareholders reached 106,318, with the largest shareholder holding 51.16%[6] - The company reported a rise in unallocated profits to ¥24.27 billion from ¥22.30 billion, an increase of approximately 8.8%[14] Investment and Income - The company reported a net cash flow from investment activities of CNY -2.46 billion, an improvement of 46.56% year-on-year[4] - Investment income reached CNY 1,758,000,983.66, an increase of 21.8% from CNY 1,443,835,003.62 in the previous year[18] - The company reported a significant increase of 449.39% in other income to ¥38,398,164.50, attributed to personal income tax refunds[10] Other Financial Metrics - The weighted average return on net assets increased by 0.13 percentage points to 2.57%[4] - Total operating expenses for Q1 2021 were CNY 5,049,405,491.01, up from CNY 3,298,590,690.01, reflecting a 53.2% increase[18] - Other comprehensive income after tax was CNY -122,956,857.90, compared to CNY 123,007,663.46 in Q1 2020[19]

Financial Performance - China Galaxy Securities reported a total revenue of RMB 10.5 billion for the year 2020, representing a year-on-year increase of 15%[1]. - The company achieved a net profit of RMB 3.2 billion in 2020, which is a 20% increase compared to the previous year[1]. - Total revenue for 2020 reached RMB 31,267,233, an increase of 33.09% compared to RMB 23,493,492 in 2019[41]. - Total expenses for 2020 amounted to RMB 22,171,139, reflecting a growth of 32.97% from RMB 16,674,249 in 2019[41]. - Profit before tax for 2020 was RMB 9,156,733, up 34.06% from RMB 6,830,129 in 2019[41]. - Net profit attributable to owners of the company for 2020 was RMB 7,243,654, representing a 38.54% increase from RMB 5,228,429 in 2019[41]. - The company achieved a net profit of RMB 7.31 billion in 2020, representing a year-on-year growth of 39.27%[130]. - Total revenue and other income reached RMB 31.27 billion, an increase of 33.09% compared to the previous year[132]. Client Growth and Market Presence - User data indicated that the number of active clients increased by 25% year-on-year, reaching 1.5 million clients by the end of 2020[1]. - The company plans to expand its market presence by opening 30 new branches in 2021, aiming for a 10% increase in market share[1]. - As of the end of the reporting period, the company operates 491 securities business outlets across 31 provinces, autonomous regions, and municipalities in China[31]. - The company has established a strong channel network with 491 securities business outlets across 31 provinces, autonomous regions, and municipalities in China[69]. - The number of brokerage clients reached 12.14 million by the end of 2020, with total client securities under custody valued at RMB 3.15 trillion, holding a market share of 5.29%[68]. Asset Management and Investment Banking - The company reported a significant increase in its asset management business, with total assets under management reaching RMB 200 billion, up 18% from the previous year[1]. - The asset management business achieved revenue of RMB 556 million, a year-on-year decrease of 19.08% due to regulatory impacts on existing business[83]. - The investment banking business generated revenue of RMB 810 million, a year-on-year increase of 89.32%, attributed to the gradual realization of the effects of major investment banking reforms[88]. - The company’s stock underwriting amount reached RMB 41.823 billion, a year-on-year increase of 362.80%, ranking 8th in the market[90]. - The total bond underwriting amount was RMB 120.672 billion, a year-on-year increase of 85.05%, with 735 bonds underwritten during the reporting period[94]. Risk Management and Compliance - The company is committed to improving corporate governance and has implemented new compliance measures in line with regulatory requirements[1]. - The company faces various risks, including legal and compliance risks due to regulatory changes, strategic risks from market fluctuations, and operational risks from business model transformations[9]. - The company has a comprehensive risk management strategy that includes organizational structure and management mechanisms to mitigate market and credit risks[9]. - The company continues to comply with regulatory requirements for risk control indicators, ensuring financial stability[47]. Technology and Innovation - Investment in new technology and product development increased by 30% in 2020, focusing on enhancing digital trading platforms[1]. - The company is actively involved in the development of new technologies and innovative business models to adapt to market changes[9]. - The firm has launched a new ETF product, which has already attracted RMB 1 billion in investments within the first month of its launch[1]. Future Plans and Strategic Developments - The company has set a performance guidance for 2021, targeting a revenue growth of 12% and a net profit increase of 15%[1]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market reach[1]. - The company aims to expand its investment banking and asset management services, focusing on becoming a leading financial institution in the Asian capital markets[51]. - In 2021, the company aims to enhance its service capabilities for innovative SMEs through diversified financing needs, focusing on quality enterprises with potential for transfer to the main board[99]. - The company plans to strengthen internal business collaboration and improve its comprehensive financial service capabilities in investment and financing integration[99]. Financial Stability and Capital Structure - The company's net capital as of the end of 2020 was RMB 70.52 billion, up from RMB 69.01 billion in 2019, reflecting a stable financial position[48]. - The liquidity coverage ratio improved to 280.88% in 2020 from 221.03% in 2019, indicating enhanced liquidity management[49]. - The company's debt-to-asset ratio for 2020 was 76.44%, up from 69.42% in 2019[43]. - The company's total assets reached RMB 445.73 billion as of December 31, 2020, an increase of 41.20% compared to the previous year[63]. - Total liabilities as of December 31, 2020, reached RMB 363,722,157, which is a 49.22% increase from RMB 243,744,179 in 2019[42].

Dividend Distribution - The proposed cash dividend distribution is RMB 2,230,196,926.54 (including tax), equating to RMB 2.20 per share based on a total share capital of 10,137,258,757 shares [4]. - The company’s cash dividend proposal requires approval from the shareholders' meeting after being reviewed by the board of directors [4]. Risk Management - The company faces significant risks including market volatility, legal compliance, strategic planning, operational management, market price fluctuations, credit risk, liquidity risk, and operational risk due to internal process management [7]. - The company is committed to optimizing risk management through organizational structure, management mechanisms, and information technology to mitigate market and credit risks [7]. - The company has identified market risk, credit risk, liquidity risk, operational risk, and cybersecurity risk as key operational risks [171]. - The company has implemented a comprehensive risk management system to enhance its risk management capabilities [170]. - The company has established a comprehensive liquidity risk indicator system and conducts daily monitoring of liquidity conditions [179]. - The company emphasizes the importance of risk management and continuously improves its risk management framework and tools [182]. - The company has built a risk management information system that includes a market risk measurement platform and a credit internal rating system [185]. - The company actively employs risk hedging and limit management strategies to monitor and manage securities holding risks [174]. - The company has a controlled overall liquidity risk with sufficient high-quality liquid assets and reserves [179]. - The risk management organization is structured based on a "three lines of defense" model, integrating subsidiary risk management into a unified system [189]. Financial Performance - The company reported a total revenue of RMB 500 million for the year 2020, reflecting a year-on-year increase of 10% [36]. - The company’s operating revenue for 2020 was approximately ¥23.75 billion, representing a year-over-year increase of 39.37% compared to ¥17.04 billion in 2019 [39]. - The net profit attributable to shareholders for 2020 was approximately ¥7.24 billion, up 38.54% from ¥5.23 billion in 2019 [39]. - The total assets of the company reached RMB 5 billion, marking a 15% increase compared to the previous year [36]. - The company achieved total assets of RMB 445.73 billion and net profit attributable to the parent company of RMB 7.244 billion, representing a year-on-year growth of 39.37% and 38.54% respectively [74]. - The company’s total assets reached RMB 445.73 billion, an increase of 41.20% compared to the previous year [64]. - The net profit for the reporting period was RMB 15.75 billion, representing a year-on-year growth of 27.98% [61]. - The company reported a significant increase in customer satisfaction scores, rising to 90% in 2020, attributed to improved service quality and support [36]. Business Expansion and Strategy - The company is committed to expanding its market presence and enhancing its service capabilities through strategic qualifications and partnerships [20]. - The company plans to expand its market presence by opening 10 new branches across key cities in China by the end of 2021 [36]. - The company aims to strengthen its position as a leading investment bank in the Asian capital markets, focusing on comprehensive securities services including brokerage, investment banking, and asset management [52]. - The company aims to enhance its market position in Southeast Asia and expand into Russia and Africa in its international business strategy [121]. - The company plans to enhance its wealth management and investment financing business systems in 2021, focusing on standardized services and professional talent training [169]. Corporate Governance - The company is committed to enhancing its corporate governance structure in accordance with relevant laws and regulations [29]. - The board of directors is the highest decision-making body for risk management, supported by the Risk Management Committee and the Audit Committee [190]. - The Audit Committee supervises the company's financial decisions, internal control systems, and compliance with major accounting policies [192]. Subsidiaries and Capital Structure - The company has five subsidiaries, including Galaxy Futures and Galaxy Innovation Capital [30]. - The registered capital of Galaxy Futures was increased from RMB 1.2 billion to RMB 2.3 billion in January 2021 [32]. - The company completed the acquisition of 100% equity in Galaxy Futures, increasing its investment in subsidiaries [146]. Market Presence - The company holds multiple business qualifications, including ETF primary dealer qualification and various trading qualifications on both Shanghai and Shenzhen stock exchanges [19]. - China Galaxy Securities has maintained its stock listings on both the Shanghai Stock Exchange (A-shares) and the Hong Kong Stock Exchange (H-shares) under the ticker codes 601881 and 06881 respectively [24]. - The company has established 36 branches and 491 securities business offices as of the end of the reporting period [158]. Investment and Technology - Investment in new technology development increased by 20%, with a focus on enhancing digital trading platforms and improving user experience [36]. - The company plans to increase investment scale in equity investments while focusing on core assets and low-risk strategies in 2021 [110]. Awards and Recognition - The company received multiple awards in 2020, including "Active Trader of the Year" in the interbank market and "Outstanding Bond Investment Institution" from the Shanghai Stock Exchange [107].

Financial Performance - Revenue and other income for the first half of 2020 reached RMB 14,520,567 thousand, representing a 36.55% increase compared to RMB 10,633,551 thousand in the same period of 2019[11] - Profit before tax increased by 34.89% to RMB 4,581,071 thousand from RMB 3,396,200 thousand year-on-year[11] - Net profit attributable to owners of the company rose by 36.90% to RMB 3,552,441 thousand, up from RMB 2,595,002 thousand in the previous year[11] - Basic earnings per share increased by 34.62% to RMB 0.35 from RMB 0.26 in the same period last year[11] - The company achieved a net income of RMB 14.52 billion from brokerage services, a year-on-year increase of 5.72%[43] - The brokerage business generated revenue of RMB 6.39 billion, reflecting a year-on-year growth of 5.72%[71] - The futures business saw a revenue increase of 246.32%, reaching RMB 3.18 billion[71] - The company reported a profit for the period of RMB 3,552,441 thousand for the six months ended June 30, 2020[169] - The total comprehensive income for the period was RMB 3,344,270 thousand, reflecting the company's performance during the first half of 2020[169] Assets and Liabilities - Total assets increased by 22.07% to RMB 385.35 billion compared to RMB 315.67 billion at the end of 2019[12] - Total liabilities rose by 27.91% to RMB 311.77 billion from RMB 243.74 billion at the end of 2019[12] - The company's equity attributable to owners increased by 2.71% to RMB 72.82 billion from RMB 70.90 billion at the end of 2019[12] - The company's asset-liability ratio increased by 4.96 percentage points to 74.38%[12] - The total assets, excluding customer funds, increased by RMB 52.07 billion to RMB 287.22 billion, a growth of 22.14% compared to the end of 2019[68] - Total liabilities amounted to RMB 311,766,211 thousand as of June 30, 2020, compared to RMB 243,744,179 thousand at the end of 2019, reflecting a significant rise of approximately 28%[168] Cash Flow - Cash flow from operating activities improved by 34.79%, totaling RMB 10,602,937 thousand compared to RMB 7,866,120 thousand in the first half of 2019[11] - Operating cash flow before changes in working capital for the six months ended June 30, 2020, was RMB 6,762,276 thousand, an increase of 50.7% compared to RMB 4,484,716 thousand for the same period in 2019[171] - Net cash from operating activities for the six months ended June 30, 2020, was RMB 10,602,937 thousand, compared to RMB 7,866,120 thousand for the same period in 2019, reflecting a growth of 34.9%[171] - The net cash inflow from financing activities for the six months ended June 30, 2020, was RMB 8,946,671 thousand, compared to a net outflow of RMB 1,247,010 thousand for the same period in 2019[172] Market Position and Strategy - The company aims to enhance its market position and public image by accelerating overseas business development and achieving its strategic goal of becoming a leading comprehensive securities firm[27] - The company plans to accelerate the development of wealth management and investment banking services centered on customer and enterprise needs[65] - The company aims to strengthen its international business, focusing on Southeast Asia and expanding into Russia and Africa[65] - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming quarters[196] Risk Management - The company actively manages market risks, with measures including risk hedging and limit management to monitor securities holding risks[100] - The company has implemented a comprehensive liquidity risk management system, with all financial indicators meeting regulatory requirements[102] - The company has established a unified risk management system for subsidiaries, focusing on key risk areas such as major investment decisions and new product developments[113] - The company conducts regular stress tests to analyze and evaluate liquidity risk levels[102] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 93,648, including 92,909 A-share shareholders and 739 H-share registered shareholders[128] - The largest shareholder, China Galaxy Financial Holdings, held 5,186,538,364 shares, representing 51.16% of the total shares[130] - The company has not experienced any changes in its total number of shares or capital structure during the reporting period[127] Regulatory Compliance - The company submitted a written rectification report to the Beijing Securities Regulatory Bureau within 30 days of receiving the administrative penalty decision[125] - The company is committed to strengthening risk control measures and improving the management processes for its custody business[125] - The company strictly adheres to the Corporate Governance Code, complying with all provisions except for A.4.2, which requires directors to retire at least once every three years[142] Segment Performance - The group operates in various segments, including securities brokerage, futures brokerage, investment banking, asset management, private equity, and overseas operations, with no single customer contributing over 10% of revenue[183] - Investment income from various segments reached RMB 711,483,000, highlighting the effectiveness of the company's investment strategies[188] - Total revenue from commodity trading surged to RMB 2,559,213 thousand, significantly higher than RMB 514,536 thousand in the same period last year, reflecting a growth of 397.5%[199]