Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2][4]. Core Views - The company is a state-owned financial holding platform with strong shareholder industrial background, with over 60% of its revenue coming from securities business. The reasonable value range is estimated to be between 7.42 and 8.07 yuan per share [4][5]. - In 2023, the company achieved operating revenue of 17.46 billion yuan, a year-on-year increase of 1.9%, while the net profit attributable to the parent company was 2.36 billion yuan, a year-on-year decrease of 19.9% [4][6]. - The company is actively transforming its wealth management business, with a total of 55.9 billion yuan in various financial products sold in 2023, representing a year-on-year growth of 11% [4][5]. Summary by Sections Financial Performance - The company reported operating revenue of 17.46 billion yuan in 2023, with a slight increase of 1.9% year-on-year. The net profit attributable to the parent company was 2.36 billion yuan, down 19.9% year-on-year, resulting in an EPS of 0.37 yuan and an ROE of 4.7%, a decrease of 1.37 percentage points year-on-year [4][6][15]. - In Q4 2023, the company achieved operating revenue of 4.63 billion yuan, a year-on-year decrease of 0.7% but a quarter-on-quarter increase of 5.2% [4]. Business Segments - The securities brokerage business generated revenue of 3 billion yuan in 2023, down 7.8% year-on-year, accounting for 17.2% of total operating revenue. The average daily trading volume in the market was 962.5 billion yuan, a decrease of 4.0% year-on-year [4][5]. - The investment banking segment generated revenue of 1.49 billion yuan, a decrease of 10.8% year-on-year, with stock underwriting revenue of 690 million yuan, ranking ninth in the industry [4][5]. Asset Management - The asset management business reported revenue of 380 million yuan, a year-on-year increase of 1.3%, with total assets under management reaching 151.7 billion yuan, up 11.5% year-on-year [5]. - The company has been focusing on product innovation in asset management, launching new products to meet market demands [5]. Future Projections - The company expects EPS for 2024-2026 to be 0.30, 0.32, and 0.33 yuan, respectively, with BVPS projected at 8.45, 8.71, and 8.97 yuan [5][15]. - The estimated reasonable market value for 2024 is between 47.69 billion and 51.88 billion yuan, corresponding to a reasonable value range of 7.42 to 8.07 yuan per share [5][10].

Financial Performance - As of the end of 2023, the total assets of the company reached CNY 280.11 billion, a year-on-year increase of 5.07%[13] - The net profit attributable to the parent company for 2023 was CNY 2.357 billion, with a cash dividend distribution plan amounting to approximately CNY 706.22 million, representing 30.0% of the net profit[3] - The company achieved total operating revenue of CNY 17.459 billion in 2023, reflecting the challenges faced in a turbulent capital market[13] - Total operating income for 2023 was approximately ¥17.46 billion, a 1.89% increase from ¥17.14 billion in 2022[25] - Operating revenue increased by 29.75% to ¥2.51 billion in 2023, compared to ¥1.94 billion in 2022[25] - Net profit attributable to shareholders decreased by 19.88% to ¥2.36 billion in 2023 from ¥2.94 billion in 2022[25] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2.30 billion, down 18.33% from ¥2.82 billion in 2022[25] - Cash flow from operating activities decreased significantly by 67.05% to ¥3.60 billion in 2023, compared to ¥10.93 billion in 2022[25] - Net assets attributable to shareholders increased by 3.55% to ¥53.03 billion at the end of 2023, up from ¥51.21 billion at the end of 2022[25] - Basic earnings per share decreased by 18.18% to ¥0.36 in 2023 from ¥0.44 in 2022[26] - The weighted average return on equity was 4.67% in 2023, down from 6.04% in 2022, a decrease of 1.37 percentage points[26] Wealth Management and Investment - The company’s wealth management subsidiary sold various financial products totaling CNY 55.9 billion, marking an 11% year-on-year growth[13] - The company’s public fund management scale reached CNY 271.8 billion, a 15% increase year-on-year, ranking it among the top 30 in the industry[13] - Wealth management assets under management grew to CNY 899.28 billion, a 14.2% increase year-on-year[45] - The wealth management income was CNY 3.47 billion, up 4% from the previous year, with a wealth management ratio of 19.85%[46] - The company successfully raised CNY 5.99 billion for eight high-tech enterprises, enhancing its role in technology finance[41] - The family trust business scale exceeded CNY 35 billion, with over 70 cooperative channels established[47] Risk Management and Compliance - The company’s risk management system is being optimized, with a focus on enhancing compliance and risk control capabilities[10] - Guotou Securities optimized annual risk management limits and enhanced risk management efficiency, achieving a significant improvement in risk control and compliance management[49] - The company has established a comprehensive risk management system, ensuring that all business lines operate smoothly and align with risk preferences[97] - The company emphasizes a strong risk management framework, integrating risk management into all business processes to ensure compliance and operational safety[105] Digital Transformation and Technology Investment - Guotou Taikang Trust invested CNY 86.55 million in information technology, a 63% year-on-year increase, to enhance digital transformation and management efficiency[54] - Guotou Ruijin Fund invested CNY 78 million in information technology, focusing on digital transformation to improve operational efficiency and reduce operational risks[55] - Guotou Anxin Futures' information technology investment reached CNY 61.45 million, accounting for 8.66% of revenue, with an 11.26% year-on-year increase[56] - Guotou Securities' information technology investment was CNY 1.091 billion, a year-on-year increase of 8.99%, supporting the digital transformation process[53] - The company completed the first phase of its data warehouse project and plans to advance to the second phase in 2024, alongside ongoing digital transformation initiatives[89] Corporate Governance and Shareholder Engagement - The company held 2 shareholder meetings and 10 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[161] - The company received an A-level rating for information disclosure work from the Shanghai Stock Exchange for four consecutive years[160] - The company has implemented measures to optimize operational processes and enhance risk management efficiency through information technology[155] - The company has a structured approach to remuneration, ensuring compliance with established guidelines for compensation[171] - The company continues to expand its governance structure with new appointments and changes in leadership roles[173] Market Trends and Strategic Initiatives - The GDP growth rate for China in 2023 was reported at 5.2%, indicating a steady economic recovery amidst global uncertainties[39] - The A-share market experienced a decline, with the Shanghai Composite Index down 3.70% and the Shenzhen Component Index down 13.54% in 2023[39] - The company aims to deepen resource integration and enhance its competitive advantage in the financial services sector, aligning with national financial development strategies[14] - The company plans to enhance its market expansion strategies and invest in new technologies to drive future growth[118] - The company is focusing on expanding its market presence and exploring potential mergers and acquisitions as part of its strategic initiatives[163] Employee Development and Training - The total number of employees at the parent company and major subsidiaries is 7,851, with 6,075 in sales and 1,063 in technical roles[188] - The company has a total of 2,705 employees with postgraduate degrees, indicating a strong educational background among its workforce[188] - The company conducted 93 training sessions with over 13,000 participants, totaling 280,000 hours of training throughout the year[192] - The company has implemented a talent cultivation system focusing on leadership, professional skills, and general capabilities, enhancing training effectiveness[192] Future Outlook and Goals - In 2024, the company aims to build a leading domestic industrial financial management platform, focusing on core business and risk compliance[138] - The company will actively pursue opportunities in mergers and acquisitions while strengthening its service capabilities for small and medium-sized enterprises and technology innovation companies[141] - The company is committed to maintaining compliance and balancing risk control with business development to ensure high-quality growth[141] - The fund aims to enhance its research capabilities by increasing the coverage and depth of industry research, thereby establishing a sustainable competitive advantage[143]

国投资本股份有限公司 内部控制审计报告 2023 年 12 月 31 日 ShineWing certified public accountants 9/F. Block A. Fu Hua No.8 Chaovangmen Be Donachena District Rei 100027 P R China 联系申话: telenhone: 内部控制审计报告 XYZH/2024BJAB1B0160 国投资本股份有限公司 国投资本股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了 国投资本股份有限公司(以下简称国投资本)2023年12月 31 日的财务报告内部控制的 有效性。 信永中和会计师事务所 北京市东城区朝阳门北大街 8 号富华大厦 A 座 9 月 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指 引》的规定,建立健全和有效实施内部控制,并评价其有效性是国投资本董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意 见,并对注意到的非财务报告内部 ...

国投资本股份有限公司 2023 年度 审计报告 | 索引 | | 页码 | | --- | --- | --- | | 审计报告 | | 1-5 | | 公司财务报表 | | | | — | 合并资产负债表 | 1-2 | | — | 母公司资产负债表 | 3-4 | | — | 合并利润表 | 5 | | — | 母公司利润表 | 6 | | — | 合并现金流量表 | 7 | | — | 母公司现金流量表 | 8 | | — | 合并股东权益变动表 | 9-10 | | — | 母公司股东权益变动表 | 11-12 | | — | 财务报表附注 | 13-119 | 信永中和会计师事务所 北京市东城区朝阳门北大街 联系申话: 8 号官 华大厦 A 应 9 目 telephone: +86 (010) 6554 2288 No.8. Chaovangmen Donachena District. oublic accountants 100027 P R China 审计报告 . XYZH/2024BJAB1B0159 国投资本股份有限公司 国投资本股份有限公司全体股东: 一、审计意见 我们审计了国投资本股 ...

证券代码：600061 证券简称：国投资本 公告编号：2024-014 国投资本股份有限公司 关于注册发行不超过 30 亿元超短期融资券的议案 本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个别及连带责任。 为拓宽融资渠道、降低公司融资成本、补充流动资金， 国投资本股份有限公司（以下简称公司）于 2022 年 5 月在 银行间交易商协会取得超短期融资券发债额度 30 亿元的批 文，该批文将于 2024 年 5 月 27 日到期。公司拟向中国银行 间市场交易商协会申请注册发行不超过 30 亿元超短期融资 券用于接续到期批文。 一、 前次批文使用情况 公司获得批文至今，累计发行八期超短期融资券，总计 规模 34 亿元，均按照相关法律法规及监管要求，用于补充流 动资金及偿还有息债务。 二、本次发行方案 1、发行规模：拟注册规模不超过人民币 30 亿元（含 30 亿元），最终发行规模将以公司在中国银行间市场交易商协 会取得的注册通知书载明的额度为准； 2、发行时间：根据实际资金需求情况，在中国银行间市 场交易商协会注册有效期内择机一次或分期发行 ...

国投资本股份有限公司 董事会审计与风险管理委员会 对会计师事务所履行监督职责情况报告 国投资本股份有限公司（以下简称"公司"）聘请信永中和会 计师事务所（特殊普通合伙）（以下简称"信永中和"）作为公司 2023 年度财务报表及内部控制审计机构。根据《公司法》、《国有 企业、上市公司选聘会计师事务所管理办法》、《上市公司治理准 则》、《上海证券交易所上市公司自律监管指引第 1 号——规范运 作》及其他相关规定，现将公司董事会审计与风险管理委员会对会 计师事务所履行监督职责情况报告如下： 一、会计师事务所基本情况 执业资格：具有财政部门颁发的会计师事务所执业资格；具有 财政部、中国证监会备案的从事证券服务业务会计师事务所资格； 具有中国证券监督管理委员会获准从事 H 股企业审计资格； （二）人员及业务信息 - 1 - 截止 2023 年 12 月 31 日，信永中和合伙人（股东）245 人，注 册会计师 1656 人。签署过证券服务业务审计报告的注册会计师人 数超过 660 人。 信永中和 2022 年度业务收入为 39.35 亿元，其中，审计业务 收入为 29.34 亿元，证券业务收入为 8.89 亿元。202 ...

证券代码：600061 证券简称：国投资本 公告编号：2024-015 国投资本股份有限公司 2024 年 3 月 29 日 附件： 关于选举职工监事和提名董事候选人的公告 本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个别及连带责任。 一、选举职工监事情况 为保证监事会的正常运作，公司工会于 2024 年 3 月 18 日召开职工大会，通过无记名投票并进行结果公示，选举于 瑞宁同志为国投资本股份有限公司第九届监事会职工监事 （简历见附件），任期自选举通过之日起至第九届监事会届 满时止。 二、提名董事候选人情况 2024 年 3 月 28 日，公司九届九次董事会审议通过《国 投资本股份有限公司关于提名董事候选人的议案》，同意提 名王方先生（简历见附件）为公司第九届董事会董事候选人， 任期自本议案经股东大会审议通过之日起，至本届董事会任 期届满时止。此事项尚需提交股东大会审议。 特此公告。 国投资本股份有限公司董事会 于瑞宁先生简历 于瑞宁，男，1984 年出生，经济学硕士。现任国投资本 股份有限公司风险合规部总经理。曾任国投财务有限公司 ...

证券代码：600061 证券简称：国投资本 公告编号：2024-010 国投资本股份有限公司 九届五次监事会决议公告 本公司监事会及全体监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个别及连带责任。 表决结果：同意 5 票，反对 0 票，弃权 0 票。此议案尚需提 交股东大会审议。 3.审议《国投资本股份有限公司 2023 年度利润分配的预案》 一、监事会会议召开情况 国投资本股份有限公司（以下简称"公司"）九届五次监事会 于 2024 年 3 月 28 日以现场和通讯相结合方式在深圳召开。会议 通知和材料已于 2024 年 3 月 15 日通过电子邮件方式发出。应出 席会议的监事 5 人，实际出席会议的监事 5 人。会议召开符合《中 华人民共和国公司法》及《公司章程》的规定。监事会主席曲立新 先生主持本次监事会，公司高级管理人员列席会议。 二、监事会会议审议情况 1.《国投资本股份有限公司 2023 年度监事会工作报告》 表决结果：同意 5 票，反对 0 票，弃权 0 票。此议案尚需提 交股东大会审议。 2.《国投资本股份有限公司 2023 年度报告及 ...

证券代码：600061 证券简称：国投资本 公告编号：2024-009 国投资本股份有限公司 九届九次董事会决议公告 本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个别及连带责任。 一、董事会会议召开情况 国投资本股份有限公司（以下简称"公司"）九届九次董事会 的召开符合《公司法》及《公司章程》的规定。会议通知和材料 已于 2024 年 3 月 15 日通过电子邮件方式发出。本次会议于 2024 年 3 月 28 日以现场与通讯相结合的方式召开，会议应参会董事 7 人，实际参会董事 7 人。公司董事长段文务主持本次会议，公司 监事、高级管理人员列席会议。 二、董事会会议审议情况 会议审议并通过了以下议案： 1.《国投资本股份有限公司 2023 年度董事会工作报告》 表决结果：同意 7 票，反对 0 票，弃权 0 票。 3.《国投资本股份有限公司 2023 年度报告及其摘要》 1 表决结果：同意 7 票，反对 0 票，弃权 0 票。此议案已于 2024 年 3 月 27 日经董事会审计与风险管理委员会 2024 年第一次会议 审议通过。此 ...

国投资本股份有限公司 2023 年度对会计师事务所履职情况评估报告 国投资本股份有限公司（以下简称"公司"）聘请信永中和会 计师事务所（特殊普通合伙）（以下简称"信永中和"）作为公司 2023 年度财务报表及内部控制审计机构。根据《公司法》《国有企 业、上市公司选聘会计师事务所管理办法》《上市公司治理准则》 《上海证券交易所上市公司自律监管指引第 1 号规范运作》及其他 相关规定，公司对信永中和 2023 年度审计过程中的履职情况进行 了评估。经评估，公司认为，信永中和具备相应执业资质，内部质 量管理体系能够确保其在履职过程中保持独立性，勤勉尽责，公允 表达意见。具体情况如下： 一、会计师事务所资质条件 1. 基本信息 具有中国证券监督管理委员会获准从事 H 股企业审计资格； 2. 人员信息 截止 2023 年 12 月 31 日，信永中和合伙人（股东）245 人，注 册会计师 1656 人。签署过证券服务业务审计报告的注册会计师人 数超过 660 人。 审计机构：信永中和会计师事务所（特殊普通合伙） 成立日期：2012 年 3 月 2 日 组织形式：特殊普通合伙企业 注册地址：北京市东城区朝阳门北大街 8 ...