Equity Transfer and Financial Transactions - The company completed the transfer of 100% equity of Shanghai Jinling Investment Co., receiving a total of 58,644,399.14 CNY and 41,051,079.40 CNY in two installments, which accounted for 51% of the total transfer amount, resulting in an increase in net profit of 110.24 million CNY[6]. - The company received the third installment of the equity transfer payment amounting to 95,785,851.92 CNY on March 27, 2023[6]. - The company approved the transfer of 100% equity in Shanghai Jinling Investment Co., Ltd. as part of related transactions[54]. - The company transferred 100% equity of Jinling Investment to Huaxin Real Estate, with the first payment of RMB 58,644,399.14 received on December 13, 2022[145]. - The second payment of RMB 41,051,079.40 was received on December 27, 2022, and the third payment of RMB 95,785,851.92 was received on March 27, 2023[145]. Business Strategy and Development - The company aims to enhance its business development through financial technology, focusing on empowering various business lines from the brokerage segment[10]. - The company plans to implement a dual focus strategy in equity investment business and promote a direct investment plus sponsorship model[12]. - The company is committed to actively serving the real economy through its investment banking business, steadily increasing its scale in key regions[12]. Risk Management - The company faces increasing credit risk due to the complexity of its bond investment and securities derivative trading businesses[17]. - The company is managing liquidity risk by ensuring a balanced asset-liability structure and meeting internal funding needs[17]. - The company is navigating a challenging environment with rising credit risk exposure and the need for improved risk management practices[17]. Talent Acquisition and Employee Development - The company is enhancing its talent acquisition strategy by integrating various recruitment channels to strengthen its workforce[13]. - The total number of employees in the company and its main subsidiaries is 1,761, with 34 in the parent company and 1,461 in major subsidiaries[34]. - The company has a total of 456 employees with a master's degree or above, and 1,100 with a bachelor's degree[34]. - The company emphasizes talent retention and development as part of its strategic initiatives to enhance operational efficiency and compliance awareness[58]. - The "Xin Sheng Li" program for fresh graduates was launched, consisting of a one-year training cycle with four stages to enhance employee integration and company culture[58]. Financial Reporting and Compliance - The company’s internal control system construction and implementation details are available in the internal control evaluation report disclosed on March 31, 2023[39]. - The company’s board of directors and senior management compensation is determined based on performance evaluations and industry benchmarks[26]. - The company has established a performance evaluation mechanism for senior management during the reporting period[39]. - The company guarantees that it will not engage in any business activities that compete with Huaxin Co. and its subsidiaries after the completion of the transaction, ensuring that any profits from such activities will be compensated to the listed company[103]. - The company commits to minimizing and regulating related party transactions with the listed company and its subsidiaries, adhering to market principles and fair pricing[103]. Social Responsibility and Environmental Initiatives - The company actively fulfills its social responsibility by donating to educational funds and charitable foundations, including a donation to East China Normal University for establishing a special education fund[78]. - The company has established a special scholarship fund to support impoverished medical students, demonstrating its commitment to social welfare[78]. - The company has implemented measures to reduce carbon emissions during the reporting period, although specific results are not detailed[75]. - The company has taken measures to minimize noise, dust, and waste pollution during construction projects[95]. - The company has reported on its social responsibility efforts in its 2022 Social Responsibility Report[97]. Financial Assets and Liabilities - Financial assets are initially measured at fair value, with transaction costs included in the initial recognition amount for certain categories[43]. - Subsequent measurement of financial assets will be based on amortized cost or fair value, with changes recognized in profit or loss or other comprehensive income[43]. - The company recognizes interest income using the effective interest method, calculated based on the carrying amount of financial assets[43]. - Expected credit losses are used for impairment accounting, affecting specific financial assets[44]. - Financial liabilities are classified as measured at amortized cost, except for those measured at fair value and whose changes are recognized in profit or loss, including trading financial liabilities and derivatives[74]. Shareholder Information - The total number of ordinary shareholders increased to 67,101 by the end of the reporting period, up from 65,229 at the end of the previous month[177]. - The top ten shareholders hold a total of 34.12% of the shares, with Shanghai Yidian (Group) Co., Ltd. holding 361,974,793 shares[179]. - The company approved a non-public offering of A-shares on February 10, 2023, during the first temporary shareholders' meeting of 2023[176]. Audit and Legal Compliance - The company has appointed Zhonghua Accounting Firm with an audit fee of 140.8 million, maintaining a continuous audit service for 2 years[109]. - The company has no significant litigation or arbitration matters pending during the reporting period[111]. - The company has ensured compliance with all legal obligations and has not defaulted on any significant debts during the reporting period[111].

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法律责任。 证券代码：600621 证券简称：华鑫股份 公告编号：临 2023-022 上海华鑫股份有限公司 关于召开 2022 年度业绩说明会的公告 重要内容提示： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 03 日(星期一) 至 04 月 10 日(星期一)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wangwei@shchinafortune.com 进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 上海华鑫股份有限公司（以下简称"公司"）已于 2023 年 3 月 31 日发布公 司2022年度报告，为便于广大投资者更全面深入地了解公司2022年度经营成果、 财务状况，公司计划于 2023 年 04 月 11 日 下午 13:00-14:00 举行 2022 年度业 绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动 ...

Financial Performance - Total operating revenue for Q3 2022 was ¥621,839,528.92, a decrease of 12.55% compared to the same period last year[6]. - Net profit attributable to shareholders for Q3 2022 was ¥50,097,349.36, down 83.74% year-on-year[9]. - Basic earnings per share for Q3 2022 was ¥0.05, a decrease of 82.76% compared to the same period last year[9]. - The net profit attributable to shareholders for the year-to-date period decreased by 49.85% to ¥244,273,612.74[16]. - Net profit for the third quarter was ¥245,419,493.52, a decrease of 50.0% from ¥490,106,300.85 in the same quarter of the previous year[36]. - The net profit attributable to the parent company shareholders was CNY 244,273,612.74, a decrease from CNY 487,085,296.12 in the previous year, representing a decline of approximately 50%[40]. - The total comprehensive income attributable to the parent company owners was CNY 241,193,348.63, down from CNY 485,061,222.99, reflecting a decline of about 50%[40]. Assets and Liabilities - Total assets at the end of Q3 2022 reached ¥37,817,102,967.93, an increase of 10.44% from the end of the previous year[9]. - As of September 30, 2022, the total current assets amounted to CNY 36,174,253,271.15, an increase from CNY 32,737,208,722.03 as of December 31, 2021, reflecting a growth of approximately 10.5%[28]. - The total liabilities increased to ¥30,364,348,711.19, up from ¥26,882,381,135.34, representing a rise of 12.3%[33]. - The total amount of short-term financing payable decreased to ¥1,676,652,463.18 from ¥2,451,295,525.63, a reduction of 31.5%[33]. Cash Flow - The company reported a net cash flow from operating activities of ¥1,570,876,212.32 for the year-to-date period[9]. - Cash inflows from operating activities totaled CNY 7,652,315,853.24, significantly higher than CNY 4,166,716,890.93 in the previous year, marking an increase of approximately 83%[42]. - Cash outflows from operating activities amounted to CNY 6,081,439,640.92, compared to CNY 5,197,988,012.07 in the previous year, resulting in a net cash flow from operating activities of CNY 1,570,876,212.32[45]. - Cash inflows from investing activities were CNY 479,161,726.20, down from CNY 1,352,636,938.90, indicating a decrease of about 65%[45]. - Cash inflows from financing activities totaled CNY 3,344,850,522.66, compared to CNY 9,585,933,266.33 in the previous year, reflecting a decline of approximately 65%[47]. - The net cash flow from financing activities was negative at CNY -1,010,104,504.44, contrasting with a positive flow of CNY 2,607,837,229.22 in the previous year[47]. - The cash and cash equivalents at the end of the period were CNY 13,342,966,364.68, slightly up from CNY 13,242,437,373.30 at the end of the previous year[47]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 70,985[17]. - The largest shareholder, Shanghai Yidian (Group) Co., Ltd., held 34.12% of the shares[17]. Strategic Developments - The company’s financial performance in the third quarter of 2022 reflects ongoing strategic adjustments and market conditions impacting revenue streams[24]. - The company’s subsidiary, Huaxin Securities, received approval for its sponsorship business qualifications, which may enhance its operational capabilities moving forward[24]. - The company is actively monitoring market trends and adjusting strategies to optimize performance in the upcoming quarters[24]. Research and Development - Research and development expenses rose to ¥29,145,363.06, compared to ¥16,529,432.98, marking an increase of 76.2% year-over-year[36].

Financial Performance - Total operating income for the first half of 2022 was CNY 1,276,256,206.59, an increase of 34.66% compared to CNY 947,792,150.12 in the same period last year[24]. - Net profit attributable to shareholders of the listed company reached CNY 194,176,263.38, up 8.53% from CNY 178,922,795.04 year-on-year[24]. - Net cash flow from operating activities was CNY 1,832,757,646.11, a significant improvement from a negative cash flow of CNY -1,332,899,797.01 in the previous year[24]. - The company reported a 16.01% increase in net profit after deducting non-recurring gains and losses, reaching CNY 182,074,036.83 compared to CNY 156,946,734.49 last year[24]. - Basic earnings per share for the first half of 2022 were CNY 0.18, a 5.88% increase from CNY 0.17 in the same period last year[26]. - The weighted average return on net assets was 2.67%, an increase of 0.08 percentage points compared to 2.59% in the previous year[26]. Asset and Liability Management - The company's total assets increased by 11.72% to CNY 38,255,269,566.11 from CNY 34,242,267,063.55 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 7,279,764,555.12, reflecting a slight increase of 0.55% from CNY 7,240,162,687.82[24]. - The company's total liabilities at the end of the reporting period were approximately ¥38.3 billion, with a significant increase in sell-back financial assets to ¥6.15 billion, accounting for 16.08% of total liabilities[59]. - The debt-to-asset ratio increased to 71.57%, up 3.85% from 67.72% at the end of the previous year[125]. Revenue Streams - The company achieved a 49.7% increase in commission and fee income, totaling 895.44 million RMB compared to 598.16 million RMB in the previous year[53]. - Interest income increased by 16.17% to 330.79 million RMB compared to 284.75 million RMB in the previous year[53]. - The total operating costs for the first half of 2022 were CNY 1,196,101,352.43, compared to CNY 943,740,842.51 in the previous year, marking an increase of approximately 26.8%[143]. Investment and Growth Strategies - The company has focused on enhancing its financial technology capabilities, which has positively impacted its brokerage business performance[40]. - The company’s self-operated business has adopted a cautious investment strategy, emphasizing risk management and diversification in its investment portfolio[41]. - The total asset management scale of Huaxin Securities reached 47.816 billion RMB, an increase of 47.05% year-on-year[42]. - The company issued 4 special asset management plans with a total issuance scale of 3.248 billion RMB in the first half of 2022[42]. Risk Management - The company faces potential policy risks that could adversely affect its operations, particularly in the highly regulated securities industry[69]. - Market risk is primarily associated with equity securities investment, fixed income securities investment, derivatives trading, and commodity investment, with increasing complexity due to the rapid development of the derivatives market[70]. - Credit risk is concentrated in bond investment, derivatives trading, and margin financing, with rising exposure due to increased leverage and market volatility[72]. - Liquidity risk arises from mismatched asset-liability structures and operational losses, necessitating proactive liquidity management to meet funding needs[73]. Corporate Governance and Compliance - The company has established a robust compliance and risk management system to ensure sustainable development[37]. - There were no significant non-operating fund occupation issues by controlling shareholders or related parties[10]. - The company guarantees that all related transactions with Huaxin Co. and its subsidiaries will be minimized and conducted at fair market prices, adhering to legal and regulatory requirements[88]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 73,793[108]. - The top shareholder, Shanghai Yidian (Group) Co., Ltd., holds 361,974,793 shares, representing 34.12% of total shares[112]. - The report indicates no changes in the controlling shareholder or actual controller during the reporting period[111]. Environmental and Social Responsibility - The company emphasizes environmental protection by adhering to low-carbon economy regulations and using green materials in new office constructions[81]. - The company continues to support poverty alleviation and rural revitalization efforts through professional assistance in finance and education[83]. Financial Reporting and Accounting - The financial statements are prepared based on the actual transactions and events in accordance with the Accounting Standards for Business Enterprises[2]. - The company’s accounting period runs from January 1 to December 31 each year[2]. - The scope of the consolidated financial statements includes the company and its subsidiaries, determined based on control[188].

Revenue and Profitability - Total revenue for Q1 2022 reached ¥632,875,451.10, an increase of 41.41% compared to the same period last year[6] - Operating income decreased to ¥27,797,468.89, down 18.48% year-over-year[6] - Net profit attributable to shareholders was ¥80,568,250.70, reflecting a slight increase of 2.16% year-over-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥79,266,717.69, up 34.01% compared to the previous year[6] - Basic and diluted earnings per share were both ¥0.08, representing a 14.29% increase[9] - Net profit for Q1 2022 was CNY 80,885,164.24, slightly up from CNY 80,061,561.33 in Q1 2021, indicating a growth of 1.0%[32] - Total comprehensive income for the first quarter of 2022 was CNY 79,180,424.23, compared to CNY 75,246,410.88 in the same period of 2021, representing an increase of approximately 2.5%[34] Cash Flow and Liquidity - Net cash flow from operating activities was ¥164,296,423.57, with significant inflows from lending and client funds[6] - Cash inflows from operating activities totaled CNY 3,557,807,501.78 in Q1 2022, significantly higher than CNY 980,662,089.03 in Q1 2021, marking an increase of approximately 262.5%[38] - The net cash flow from operating activities for Q1 2022 was CNY 164,296,423.57, a turnaround from a negative cash flow of CNY -378,175,169.78 in Q1 2021[39] - Cash inflows from financing activities reached CNY 2,246,638,301.89 in Q1 2022, compared to CNY 1,864,809,768.24 in Q1 2021, reflecting an increase of about 20.4%[39] - The total cash and cash equivalents at the end of Q1 2022 amounted to CNY 14,244,026,009.74, up from CNY 10,791,190,558.07 at the end of Q1 2021, indicating a growth of approximately 32.7%[39] - The company reported a significant increase in cash received from interest, fees, and commissions, totaling CNY 612,000,537.62 in Q1 2022, compared to CNY 421,904,557.95 in Q1 2021, which is an increase of about 45.1%[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥38,092,367,747.83, an increase of 11.24% from the end of the previous year[9] - The total assets of the company reached approximately ¥38.09 billion as of March 31, 2022, compared to ¥34.24 billion on December 31, 2021, reflecting an increase of about 11%[23] - The company's total liabilities reached CNY 30,654,246,395.39, an increase from CNY 26,882,381,135.34, reflecting a growth of 10.5%[26] - The company’s total liabilities were not explicitly stated, but the increase in current liabilities suggests a potential rise in financial obligations[23] Shareholders' Equity - Shareholders' equity attributable to the parent company was ¥7,319,026,198.51, up 1.09% from the previous year[9] - Shareholders' equity totaled CNY 7,438,121,352.44, up from CNY 7,359,885,928.21, representing a growth of 1.1%[28] Operating Costs and Expenses - Total operating costs increased to CNY 539,057,380.23, compared to CNY 442,190,440.02 in the previous year, marking a rise of 21.9%[28] - Research and development expenses increased to CNY 3,376,172.73 from CNY 2,465,109.95, a rise of 37.0% year-over-year[32] - The company reported a decrease in financial expenses to CNY 2,000,894.65 from CNY 2,914,137.30, a reduction of 31.3%[32] Investment and Growth - The increase in total revenue was primarily driven by growth in brokerage and investment banking services[11] - The company reported a net inflow of funds from repurchase transactions, contributing to the increase in cash flow from operating activities[11] - The company has not disclosed any significant new product launches or technological advancements during this reporting period[19] - There are no indications of market expansion or mergers and acquisitions mentioned in the current report[19] Current Assets and Receivables - The company's cash and cash equivalents amounted to ¥9.57 billion, up from ¥8.34 billion year-over-year, indicating a growth of approximately 14.8%[19] - The trading financial assets increased to ¥11.89 billion from ¥9.56 billion, representing a growth of around 24.4%[19] - The total current assets rose to ¥36.44 billion, compared to ¥32.74 billion in the previous year, marking an increase of about 11.8%[23] - The company reported accounts receivable of ¥100.04 million, which is an increase from ¥65.06 million, reflecting a growth of approximately 53.8%[19] - The company’s contract liabilities decreased to CNY 8,418,038.98 from CNY 12,711,729.10, a decline of 33.0%[26] Borrowings and Investments - The company’s short-term borrowings were reported at ¥217.74 million, slightly up from ¥207.72 million, showing a year-over-year increase of approximately 4.9%[23] - The company’s long-term equity investments were valued at ¥275.15 million, a slight decrease from ¥277.01 million, indicating a decline of about 0.67%[23] Sales and Services - Cash inflows from the sale of goods and services were CNY 24,996,830.49 in Q1 2022, down from CNY 37,079,584.43 in Q1 2021, representing a decrease of approximately 32.7%[38]

Financial Performance - Total revenue for 2021 reached ¥2,312,443,491.77, an increase of 29.07% compared to ¥1,791,635,946.30 in 2020[22] - Net profit attributable to shareholders was ¥494,717,885.13, a decrease of 30.15% from ¥708,287,090.76 in the previous year[22] - Net profit after deducting non-recurring gains and losses increased by 36.41% to ¥288,376,669.17 from ¥211,398,717.46 in 2020[22] - The net cash flow from operating activities was negative at -¥721,028,977.91, a decline of 239.85% compared to ¥515,567,188.07 in 2020[22] - Total assets increased by 25.58% to ¥34,242,267,063.55 from ¥27,266,933,188.69 in 2020[22] - Net assets attributable to shareholders rose by 4.83% to ¥7,240,162,687.82 from ¥6,906,819,751.92 at the end of 2020[22] - The basic earnings per share decreased by 29.85% to CNY 0.47 compared to CNY 0.67 in the previous year[24] - The weighted average return on equity decreased by 3.78 percentage points to 7.02% from 10.8% in the previous year[24] - The total amount of non-recurring gains in 2021 was CNY 206,341,215.96, compared to CNY 496,888,373.30 in 2020[28] Revenue Breakdown - Interest income increased by 8.82% to approximately ¥624.8 million, while commission and fee income rose significantly by 46.40% to approximately ¥1.557 billion[53] - Securities business revenue increased by 36.89% to ¥2,051,771,533.91, with costs rising by 39.38% to ¥906,131,710.66[57][60] - Revenue from property leasing and property services decreased by 17.98% to ¥52,527,374.72, with a gross margin reduction of 5.38 percentage points to 26.15%[57] - The company achieved a 70.42% increase in fair value gains, amounting to approximately ¥99.8 million, compared to the previous year[53] - The company reported a 31.07% increase in revenue from domestic financial services, totaling ¥2,217,052,572.61[57] Investment and Asset Management - The asset management business total scale reached CNY 44.1 billion, an increase of 99.65% compared to the end of 2020, with collective asset management plan scale growing by 298.78%[36] - The company completed the issuance of its first QDII product and its first insurance fund external product during the reporting period[36] - The company’s futures brokerage business saw an increase in client equity, reaching CNY 2.169 billion by the end of the reporting period[39] - The company has engaged in cash asset management, with structured deposits amounting to RMB 680.3 million and a remaining balance of RMB 40 million[179] Corporate Governance and Management - The company has established a governance structure that clarifies responsibilities among decision-making, execution, and supervisory bodies to enhance operational risk management and information disclosure[101] - The total pre-tax remuneration for senior management during the reporting period amounted to CNY 1,295.92 million, with individual compensation details provided for key executives[104] - The company has implemented measures to reduce environmental impact, including using green materials in new office constructions and promoting electronic documentation to save resources[149] - The company has committed to long-term communication and collaboration with independent directors to strengthen governance and oversight[144] Risks and Challenges - The company has identified various industry and market risks in its annual report, advising investors to review the relevant sections for detailed analysis[8] - The company faces potential risks including policy risks, market risks, and credit risks, which could impact its operations and financial performance[96] - Liquidity risk is defined as the inability to obtain sufficient funds in a timely manner to meet obligations, influenced by factors such as asset-liability mismatches and operational losses[97] - Regulatory authorities manage securities companies based on net capital as a core risk control indicator, with adverse changes potentially impacting business operations and market reputation[98] Future Plans and Strategies - The company aims to become a competitive financial technology-driven securities firm, focusing on core business development and increasing investment in financial technology[89] - In 2022, the company plans to enhance its core investment management capabilities and expand its asset management product line, emphasizing "stable returns and low volatility" as a core principle[92] - The company will actively expand its investment banking business and apply for equity underwriting licenses, focusing on the Yangtze River Delta region for collaborative development[92] Shareholder Information - The total number of common shareholders as of the end of the reporting period is 71,308, an increase from 68,766 at the end of the previous month[191] - The largest shareholder, Shanghai Yidian (Group) Co., Ltd., holds 361,974,793 shares, representing 34.12% of the total shares[194] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 56%[194] - The actual controller of the company is the Shanghai State-owned Assets Supervision and Administration Commission, established on August 1, 2003[200]

Financial Performance - Total operating income for Q3 2021 reached ¥711,046,336.65, an increase of 35.68% year-on-year[6] - Net profit attributable to shareholders for Q3 2021 was ¥308,162,501.08, a significant increase of 177.62% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date was ¥125,965,854.13, up 20.1% year-on-year[9] - Basic earnings per share for Q3 2021 was ¥0.29, reflecting a 190.00% increase compared to the previous year[9] - Operating revenue for the first three quarters of 2021 reached ¥1.66 billion, a 23.5% increase from ¥1.34 billion in the same period of 2020[34] - The company's net profit for the current period is approximately ¥490.11 million, a decrease of 25.5% compared to ¥658.07 million in the same period last year[36] - The total profit for the current period is ¥646.91 million, down from ¥871.40 million, reflecting a decline of 25.8% year-over-year[36] - The basic and diluted earnings per share are both ¥0.46, compared to ¥0.64 in the previous year, indicating a decrease of 28.1%[39] - The company reported a total comprehensive income of ¥488.08 million, down from ¥688.56 million, marking a decline of 29.1% year-over-year[39] Assets and Liabilities - Total assets as of the end of the reporting period amounted to ¥33,778,079,648.93, representing a 23.88% increase from the end of the previous year[9] - Total assets increased to ¥33.78 billion, up from ¥27.27 billion, representing a growth of approximately 24.5% year-over-year[30] - Total liabilities rose to ¥26.42 billion, compared to ¥20.24 billion, marking an increase of about 30.5% year-over-year[30] - The total liabilities were reported at 20,242,728,750.04 RMB, compared to 20,402,514,964.69 RMB previously, showing a decrease in liabilities[51] - The total equity stood at 7,024,204,438.65 RMB, indicating a stable equity position[51] - Total equity attributable to shareholders rose to ¥7.24 billion, compared to ¥6.91 billion, reflecting an increase of about 4.8% year-over-year[30] - Total equity (including minority interests) was approximately $7.02 billion[54] - Total liabilities and equity amounted to approximately $27.27 billion[54] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥1,031,271,121.14, a decrease of 815.82% compared to the same period last year[9] - The cash inflow from operating activities totaled ¥4.17 billion, an increase from ¥3.65 billion in the same period last year, representing a growth of 14.0%[43] - The net cash flow from operating activities is negative at -¥1.03 billion, contrasting with a positive cash flow of ¥144.07 million in the same period last year[43] - The company generated cash from investment activities amounting to ¥1.35 billion, significantly higher than ¥272.58 million in the previous year, indicating a growth of 394.5%[43] - The cash outflow for investment activities was ¥645.56 million, compared to ¥339.31 million in the same period last year, reflecting an increase of 90.1%[43] - The net cash flow from investing activities was 707,076,477.00 RMB, a significant improvement compared to -67,350,229.13 RMB in the previous period[45] - The total cash inflow from financing activities reached 9,585,933,266.33 RMB, up from 6,163,805,188.83 RMB year-over-year[45] - The net cash flow from financing activities was 2,607,837,229.22 RMB, compared to 821,031,557.86 RMB in the prior period, indicating strong financing performance[45] - The total cash and cash equivalents at the end of the period increased to 13,242,437,373.30 RMB, up from 10,469,491,250.94 RMB[45] Shareholder Information - The total number of common shareholders at the end of the reporting period is 70,064[18] - The largest shareholder, Shanghai Yidian (Group) Co., Ltd., holds 361,974,793 shares, accounting for 34.12% of the total shares[18] - The second-largest shareholder, Huaxin Real Estate (Group) Co., Ltd., holds 139,517,522 shares, representing 13.15% of the total shares[18] - The total number of shares held by the top ten shareholders includes significant stakes from state-owned enterprises, indicating a concentrated ownership structure[21] - The company has no reported financing or margin trading activities among the top ten shareholders[21] - There are no significant changes in the status of pledged, marked, or frozen shares among the major shareholders[18] Other Financial Metrics - Non-recurring gains and losses for Q3 2021 totaled ¥182,196,797.25, with a year-to-date total of ¥204,172,857.80[13] - The decline in net profit for the year-to-date was primarily due to a significant increase in investment income from the disposal of Morgan Securities' 2% equity in the previous period[14] - Research and development expenses increased significantly to ¥16.53 million, compared to ¥7.19 million in the previous year, showing a growth of approximately 130.5%[34] - The company reported a deferred tax asset of ¥132.19 million, up from ¥104.26 million, indicating a growth of approximately 27%[30] - The company recorded a decrease in other comprehensive income, with a net amount of -¥2.02 million compared to ¥30.48 million in the previous year[36] - Other comprehensive income reported a loss of approximately $65.33 million[54] - Minority interests accounted for approximately $117.38 million[54] - The company did not report any treasury stock or special reserves[54] - The general risk reserve and specific reserves were both reported as zero[54] Corporate Strategy - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[45] - The company has implemented new leasing standards starting from January 1, 2021, affecting the financial statements[45] - The earnings report was announced by the board of directors on October 28, 2021[54]

Financial Performance - Total revenue for the first half of 2021 reached ¥947,792,150.12, an increase of 15.65% compared to ¥819,540,389.76 in the same period last year[23]. - Net profit attributable to shareholders of the listed company was ¥178,922,795.04, a decrease of 68.25% from ¥563,487,718.15 in the previous year[23]. - Net profit excluding non-recurring gains and losses increased by 90.96% to ¥156,946,734.49 from ¥82,189,822.62 year-on-year[23]. - Basic earnings per share decreased by 67.92% to ¥0.17 from ¥0.53 in the same period last year[23]. - The weighted average return on net assets decreased by 6.09 percentage points to 2.59% from 8.68% year-on-year[23]. - The significant decline in net profit was primarily due to the previous year's substantial investment income from the disposal of a 2% stake in Morgan Securities[23]. - The company reported a net profit margin improvement, with net profit for the first half of 2021 being ¥4,051,307.61, compared to a net loss in the same period of 2020[138]. - The company's EBITDA decreased by 45.18% to approximately 474.55 million RMB, mainly due to the previous year's gain from the disposal of a subsidiary[120]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥1,332,899,797.01, a decline of 210.27% compared to ¥1,208,734,927.77 in the same period last year[23]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥1,685,832,639.09, compared to -¥173,431,849.90 in the previous year[48]. - The cash outflow for operating activities totaled 3,920,961,530.19 RMB, a decrease from 3,980,994,910.76 RMB in the same period of 2020[147]. - The total cash inflow from investment activities was 493,013,705.83 RMB, up from 148,365,825.57 RMB year-on-year[149]. - Cash interest coverage ratio fell by 174.12% to -7.01, attributed to a reduction in net cash flow from operating activities[120]. Assets and Liabilities - Total assets as of June 30, 2021, were ¥30,883,731,922.26, representing a 13.26% increase from ¥27,266,933,188.69 at the end of 2020[23]. - Total liabilities rose to ¥23,841,126,144.57, compared to ¥20,242,728,750.04, indicating an increase of about 12.9%[130]. - Current liabilities amounted to ¥20,593,292,864.00, an increase from ¥17,271,936,033.44, which is a growth of around 19.5%[130]. - Short-term financing payables surged by 95.35% to ¥3,686,135,334.40, attributed to increased issuance of short-term profit certificates and financing bonds[52]. - The company's debt-to-asset ratio increased by 6.93% to 65.61%, primarily due to an increase in the scale of liabilities[120]. Business Operations and Strategy - The company continues to optimize its business structure, leading to improved operational performance in its securities business[23]. - The company is transitioning its asset management business towards active management, while also expanding its investment banking capabilities[35]. - The company has implemented a comprehensive training system to enhance its financial technology capabilities[36]. - The company plans to expand its market presence and enhance product offerings in the upcoming quarters, focusing on strategic growth initiatives[138]. Market and Economic Conditions - In the first half of 2021, the A-share market saw a 2.52% increase in the Shanghai Composite Index and a 12.96% increase in the ChiNext Index, indicating a recovery in the domestic economy[29]. - The total market trading volume for equity funds increased by 17.70% year-on-year in the first half of 2021, with total assets of securities companies growing by 21.62%[29]. Risk Management - The company faces significant policy risks due to potential changes in macroeconomic regulations and securities industry laws, which could adversely affect operations[64]. - Market risks are heightened due to fluctuations in asset prices, particularly in equity and fixed-income securities, as well as the evolving derivatives market[65]. - Credit risk is concentrated in bond investments and securities derivatives trading, with increasing complexity due to innovative financing activities[68]. - Liquidity risk is a concern as the company needs to manage its financing and asset-liability structure effectively to meet operational demands[69]. Environmental and Social Responsibility - The company emphasizes environmental protection by implementing strict management during the construction of new offices, including dust reduction measures and the use of green materials[76]. - The company has invested in green office furniture and low-carbon facilities as part of its environmental investment strategy, allocating a portion of the total investment in office decoration projects completed in 2021[76]. - The company’s subsidiary, Huaxin Securities, continues to support poverty alleviation and rural revitalization efforts, providing professional assistance in industry and finance[78]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 75,538[103]. - The top ten shareholders held a total of 634,000,000 shares, representing 60.00% of the total shares[107]. - Shanghai Yidian (Group) Co., Ltd. held 361,974,793 shares, accounting for 34.12% of the total shares[107]. - The company has no new strategic investors or changes in major shareholders during the reporting period[108]. Compliance and Governance - The company has committed to maintaining independent operational management and financial systems for Huaxin Securities, ensuring compliance with relevant laws and regulations[86]. - The company has acknowledged historical issues regarding property rights for certain assets and has committed to addressing these issues without holding the listed company liable for any losses[86]. - The company has not reported any significant changes in its financial audit status[89].

Financial Performance - Net profit attributable to shareholders decreased by 19.28% to CNY 78,865,072.40 year-on-year[14] - Operating revenue rose by 7.63% to CNY 447,554,749.22 compared to the same period last year[14] - Basic earnings per share decreased by 22.22% to CNY 0.07[14] - The weighted average return on equity decreased by 0.42 percentage points to 1.14%[14] - The company's net profit for the year is expected to show significant changes compared to the previous year, with potential losses being warned[32] - The net profit attributable to shareholders of the parent company was 78,865,072.40, a decrease of 19.2% compared to 97,698,758.42 in the previous year[53] - The total comprehensive income attributable to the parent company was 74,049,921.95, down 22.4% from 95,427,468.31 in the previous year[53] - Net profit for Q1 2021 was CNY 80,061,561.33, slightly down from CNY 81,261,304.09 in Q1 2020, a decrease of 1.5%[51] - The company reported a net profit of 110,107,259.40 for the first quarter, a significant improvement from a loss of 2,038,295.31 in the previous year[59] Assets and Liabilities - Total assets increased by 3.55% to CNY 28,235,829,890.74 compared to the end of the previous year[14] - Total current assets increased to ¥26,516,623,697.36 as of March 31, 2021, up from ¥25,610,439,199.37 as of December 31, 2020, representing a growth of approximately 3.53%[36] - The company's total assets reached ¥28,235,829,890.74 as of March 31, 2021, compared to ¥27,266,933,188.69 at the end of 2020, indicating an increase of about 3.56%[39] - Total liabilities amounted to ¥21,136,156,573.82 as of March 31, 2021, up from ¥20,242,728,750.04 at the end of 2020, reflecting a rise of approximately 4.42%[41] - The company's total equity increased to ¥7,099,673,316.92 as of March 31, 2021, compared to ¥7,024,204,438.65 at the end of 2020, marking a growth of about 1.07%[41] - The company's accounts receivable rose to ¥30,056,081.21 as of March 31, 2021, compared to ¥20,487,432.17 at the end of 2020, representing an increase of about 46.73%[36] - The company’s total liabilities increased significantly, with accounts payable rising by 77.34% to RMB 149,008,165.59 from RMB 84,026,123.90, mainly due to increased securities settlement payments[27] Cash Flow - Net cash flow from operating activities decreased significantly by 116.68% to -CNY 378,175,169.78[14] - Operating cash flow net amount decreased by 116.68% to -RMB 378,175,169.78 from RMB 2,267,502,800.66, mainly due to a reduction in net funds from repurchase transactions[28] - The cash inflow from operating activities totaled 980,662,089.03, compared to 4,994,542,334.06 in the previous year, indicating a decrease[60] - The net cash flow from operating activities was -378,175,169.78 RMB, a significant decrease compared to 2,267,502,800.66 RMB in the previous year, indicating a decline of approximately 116.7%[63] - Total cash inflow from investment activities was 216,243,329.51 RMB, up from 77,394,349.50 RMB, representing an increase of about 179.5%[63] - The net cash flow from financing activities was 219,027,929.00 RMB, a recovery from -358,565,913.32 RMB in the previous year, marking a turnaround of approximately 161.0%[63] Shareholder Information - The number of shareholders at the end of the reporting period was 77,095[21] - The largest shareholder, Shanghai Yidian (Group) Co., Ltd., holds 34.12% of the shares[21] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 19,031,020.51[16] - Non-recurring gains and losses totaled CNY 19,716,471.48 after tax[20] - Other income surged by 543.55% to RMB 2,025,256.65 from RMB 314,702.07, primarily due to government subsidies and personal income tax refunds[28] - Financial assets held for trading increased by 530,803,497.87, compared to 2,195,059,403.86 in the previous year[60] - The company experienced a decrease in other comprehensive income, with a net amount of -4,815,150.45 compared to -2,271,290.11 in the previous year[53] - The company’s financial expenses increased to 2,203,006.49, compared to a negative financial expense of -1,263,226.42 in the previous year[58]

Financial Performance - Total operating income for 2020 was CNY 1,791,635,946.30, an increase of 39.86% compared to 2019[23] - Net profit attributable to shareholders was CNY 708,287,090.76, representing a significant increase of 1,002.60% year-on-year[23] - The net profit after deducting non-recurring gains and losses was CNY 211,398,717.46, up 186.38% from the previous year[23] - The company's total assets reached CNY 27,266,933,188.69, a growth of 20.21% compared to the end of 2019[23] - The company's net assets attributable to shareholders increased to CNY 6,906,819,751.92, reflecting an 11.25% growth year-on-year[23] - The company's basic earnings per share (EPS) for 2020 was CNY 0.67, a significant increase of 1,016.67% compared to CNY 0.06 in 2019[24] - The weighted average return on equity rose to 10.80% in 2020, up by 9.76 percentage points from 1.04% in 2019[24] - The total operating revenue for the year was CNY 179,163.59 million, reflecting a growth of 39.86% year-on-year[60] - Net profit attributable to shareholders surged to CNY 70,828.71 million, a remarkable increase of 1,002.60% year-on-year[60] Cash Flow and Dividends - The net cash flow from operating activities was CNY 515,567,188.07, a decrease of 44.44% compared to the previous year[23] - A cash dividend of CNY 1.41 per 10 shares was proposed, totaling CNY 149,586,800.17, which is 21.12% of the net profit attributable to shareholders[8] - The company has a remaining undistributed profit of CNY 1,116,593,062.12 to be allocated in future years[8] - The cash dividend ratio for 2020 was below 30% due to the need to retain sufficient liquidity for normal operations[113] - The company plans to use the retained earnings primarily for operational needs and debt repayment[113] Business Operations and Strategy - The company has identified various industry and market risks in its annual report, advising investors to review the relevant sections for detailed insights[10] - The company plans to continue leveraging financial technology to drive business transformation and efficiency improvements in the future[24] - Huaxin Securities has implemented a "financial technology leads business development" strategy, enhancing its operational capabilities through AI technology and various financial tech products[36] - The company aims to focus on its core business and develop into a financial technology-driven securities firm, enhancing its core competitiveness[98] - Huaxin Securities will focus on financial technology to enhance its core brokerage business and diversify its operations[99] Market and Industry Context - In 2020, the Shanghai Composite Index rose by 12.61%, and the ChiNext Index surged by 61.55%, contributing to a more than 50% year-on-year increase in stock trading volume[38] - The securities industry is entering a new phase of reform and development, with opportunities arising from IPO expansion and the migration of household financial assets[97] Risk Management - The company has strengthened its compliance and risk management systems, ensuring that overall risks remain within acceptable limits while supporting business expansion[45] - The company faces potential policy risks due to macroeconomic adjustments and regulatory changes that could adversely affect its operations[104] - Market risks include fluctuations in asset prices and the complexities of managing risks associated with derivatives and other financial instruments[105] - Credit risks are increasing due to the complexity of various financing and investment activities, particularly in bond investments and securities trading[106] - Liquidity risks may arise from mismatches in asset-liability structures and the need for effective management of funding requirements[107] Social Responsibility and Community Engagement - Huaxin Securities donated RMB 300,000 and anti-epidemic materials worth RMB 43,506 to support poverty-stricken areas in the fight against COVID-19[152] - The company reported a total investment of RMB 112.43 million in poverty alleviation efforts, with RMB 64.43 million specifically allocated to improving educational resources in impoverished areas[153] - Huaxin Securities actively engaged in investor education, conducting over 300 educational activities and reaching approximately 13,000 investors in 2020[158] - The company has maintained a strong commitment to social responsibility, donating RMB 3 million to support COVID-19 prevention efforts in Hubei Province[158] Governance and Management - The company has a structured board with a mix of experienced professionals from various industries[187] - The company’s independent directors have diverse experiences in finance, law, and management, enhancing governance[187] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 10.167 million yuan (before tax)[196] - The company conducted a performance evaluation for senior management based on the completion of annual operational goals[196] - The company has not faced any penalties from securities regulatory agencies in the past three years[199]