Financial Performance - The company reported a total revenue of 1.5 billion CNY for the fiscal year 2022, representing a year-over-year increase of 15%[32] - The company reported a total revenue of 1.2 billion in 2022, representing a year-over-year growth of 15%[33] - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[164] - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2022, representing a 20% growth compared to the previous year[165] - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 12%[32] - The company provided a positive outlook for the next quarter, projecting revenue growth of 10% to 12%[164] - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately 1.32 billion[162] - The company has set a future outlook with a revenue guidance of 1.5 billion for the next fiscal year, indicating a growth target of 25%[171] Profit Distribution - The proposed profit distribution plan for 2022 includes a cash dividend of RMB 0.05 per share, totaling RMB 161,622,276.00, which accounts for 31.25% of the net profit attributable to shareholders[4] - The company’s profit distribution plan for 2022 was approved, considering internal and external factors, current status, development plans, future funding needs, and long-term interests of shareholders[192] - The company distributed cash dividends of CNY 468,853,311.69 for the 2020 fiscal year, representing 30.45% of the net profit attributable to shareholders[200] - For the 2021 fiscal year, the cash dividends distributed amounted to CNY 840,435,835.20, which accounted for 50.87% of the net profit attributable to shareholders[200] Risk Management - The company faces significant risks related to macroeconomic conditions and capital market fluctuations, which could impact its operational performance[6] - The company has implemented measures to mitigate various risks, including legal, market, credit, operational, liquidity, and reputational risks[7] - The company emphasizes the importance of compliance with laws and regulations to avoid legal and compliance risks[7] - The company has established a comprehensive risk management framework that covers all business activities and processes[144] - The company has developed a clear risk control indicator system to monitor various types of risks, including market, credit, liquidity, operational, compliance, money laundering, and reputational risks[144] - The company has established a reputation risk management strategy to enhance communication with external media and improve response capabilities[142] - The company has maintained a strong credit rating and has a comprehensive external credit line exceeding RMB 100 billion[124] - The company has established a comprehensive liquidity risk management system, including various management policies and emergency plans[123] Organizational Structure - The company has a diverse organizational structure with multiple subsidiaries and branch offices to enhance market presence[24] - The company operates 75 securities business departments across various regions, with the highest concentration in Fujian (34 departments) and Beijing (6 departments)[30] - As of December 31, 2022, the company has 5 wholly-owned subsidiaries, including Dongxing Futures with a registered capital of 51,800,000 RMB and Dongxing Investment with 200,000,000 RMB[24] - The company has established a complete governance structure with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and senior management[149] - The board of directors consists of 15 members, including 5 independent directors and 4 executive directors, ensuring compliance with legal requirements[149] - The supervisory board comprises 4 members, including 2 shareholder representatives and 2 employee representatives, effectively overseeing financial status and risk management[150] Market Expansion and Strategy - The company has expanded its business scope to include internet securities and financial product distribution, indicating a strategic move towards digital finance[15] - Market expansion plans include entering three new provinces, targeting a 5% market share within the first year[32] - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 500 million CNY allocated for this purpose[32] - The company plans to enhance its bond financing business by leveraging its full licensing advantages and focusing on innovative products like AMC+ABS/Reits[82] - The company aims to expand its services in the North Exchange and continue to develop its financial advisory business, particularly in debt restructuring and asset reorganization[83] - The company is focused on expanding its market reach through strategic mergers and acquisitions, as evidenced by its historical activities[21] Compliance and Governance - The company has not faced any administrative penalties or regulatory measures related to its role as a sponsor for a specific IPO[8] - The company’s management structure includes 274 management personnel, 90 research staff, and 1,293 brokerage staff among others[193] - The company’s compliance and risk management personnel totaled 147, ensuring effective internal controls[193] - The company’s board of directors and management adhered to legal and regulatory requirements, with no violations reported[191] - The company has implemented various internal regulations to enhance governance and operational efficiency, aligning with regulatory standards[149] Financial Position - The net profit attributable to shareholders for 2022 was CNY 517,197,649.74, down 68.70% from CNY 1,652,243,606.93 in the previous year[38] - The company's operating revenue for 2022 was CNY 3,429,193,721.41, a decrease of 36.21% compared to CNY 5,375,748,343.46 in 2021[38] - The total assets as of December 31, 2022, were CNY 101,753,397,289.12, reflecting a 2.82% increase from CNY 98,965,019,340.87 at the end of 2021[39] - The total liabilities increased by 4.69% to CNY 75,664,746,197.04 in 2022, compared to CNY 72,271,904,877.92 in 2021[39] - The company's debt-to-asset ratio was 69.49%, an increase of 3.35 percentage points from the previous year[110] Technology and Innovation - The company is investing 200 million CNY in research and development for new technologies aimed at enhancing user experience[32] - The company is investing in new technology development, allocating $50 million towards R&D initiatives[164] - The company is exploring partnerships with tech firms to leverage AI capabilities, aiming to increase operational efficiency by 20%[165] - The company is committed to absolute returns in investments, expanding cross-border investment scale, and improving comprehensive service capabilities in OTC derivatives[132] Customer Engagement - The company has a dedicated customer service hotline (95309) to enhance client engagement and support[18] - The company reported a 20% increase in customer retention rates due to improved service quality and support[32] - Customer satisfaction ratings improved to 90%, up from 85% last year, reflecting better service and product quality[33] Management Changes - In 2022, the company appointed Li Juan as the new chairman and legal representative after the resignation of Wei Qinghua[167] - The company reported significant management changes, including the appointment of Liu Liang as the compliance officer and chief risk officer[168] - The company is actively seeking new independent directors to maintain compliance with board composition requirements[168] - The company has experienced turnover in key management positions, indicating potential shifts in strategic direction[167]

证券代码：601198 证券简称：东兴证券 公告编号：2023-008 东兴证券股份有限公司 关于召开 2022 年度业绩说明会的公告 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法律责任。 重要内容提示： 会议召开时间：2023 年 04 月 06 日（星期四）下午 16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： 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 03 月 30 日（星期四）至 04 月 04 日（星期二）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 dshms@dxzq.net.cn 进行提问。公司将在 2022 年度业绩说明会上就投资者普遍关 注的问题进行回答。 东兴证券股份有限公司（以下简称"公司"）将于 2022 年 03 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 ...

Financial Performance - Operating revenue decreased by 18.04% year-on-year to CNY 2,803,410,242.44, and decreased by 26.71% year-to-date[4] - Net profit attributable to shareholders decreased by 39.11% year-on-year to CNY 547,100,169.71, and decreased by 53.65% year-to-date[4] - Basic earnings per share decreased by 47.85% year-on-year to CNY 0.169[4] - Total revenue for the first three quarters of 2022 was ¥2,803,410,242.44, a decrease of 26.6% compared to ¥3,824,878,302.18 in the same period of 2021[21] - Net profit for the third quarter was ¥547,066,485.13, a decrease of 53.7% compared to ¥1,180,662,408.63 in the same quarter of 2021[22] - Net profit for the third quarter of 2022 was ¥723.45 million, down 27.8% from ¥1.00 billion in the same quarter of 2021[31] Assets and Liabilities - Total assets decreased by 4.90% compared to the end of the previous year, amounting to CNY 94,113,722,321.07[6] - Total assets as of September 30, 2022, were ¥94,113,722,321.07, down from ¥98,965,019,340.87 at the end of 2021, a reduction of 4.3%[20] - Total liabilities decreased to ¥67,575,571,172.45 from ¥72,271,904,877.92, reflecting a decline of 6.5%[20] - The total liabilities as of September 30, 2022, included short-term financing payables of CNY 2,418,703,638.63, slightly down from CNY 2,487,518,431.44 at the end of 2021[26] - The company's equity attributable to shareholders was ¥26,500,158,363.49, down from ¥26,658,735,548.01, a decrease of 0.6%[20] Cash Flow - Cash flow from operating activities increased by 34.91% year-on-year to CNY 8,722,201,716.44[10] - The net cash flow from operating activities for the first three quarters of 2022 was CNY 8,722,201,716.44, compared to CNY 6,465,404,810.36 in the same period of 2021, representing a 35% increase[24] - The net cash flow from investment activities was CNY -7,069,732,779.65, reflecting increased cash outflows for investments[10] - The net cash flow from investing activities for Q3 2022 was -CNY 7,069,732,779.65, a significant decrease from CNY 1,984,290,872.85 in Q3 2021[24] - The net cash flow from financing activities for Q3 2022 was -CNY 6,455,697,741.04, compared to -CNY 5,938,471,397.60 in Q3 2021[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 96,106[11] - The largest shareholder, China Orient Asset Management Co., Ltd., holds 1,454,600,484 shares, accounting for 45.00% of the total shares[11] - Jiangsu Railway Group Co., Ltd. holds 128,194,061 shares, representing 3.97% of the total shares[11] - The company distributed a cash dividend of RMB 0.26 per share, totaling RMB 840,435,835.20, based on a total share capital of 3,232,445,520 shares[14] Corporate Changes and Legal Matters - The company changed its business scope and reissued its business license in August 2022 to adapt to operational development needs[15] - The chairman of the board, Wei Qinghua, resigned on September 26, 2022, and Li Juan was elected as the new chairman on October 18, 2022[16] - The company is currently involved in ongoing litigation, including a loan contract dispute and a stock pledge repurchase dispute[17] Investment and Income - Net interest income increased to ¥1,068,319,620.09 from ¥738,183,239.62, reflecting a growth of 44.7% year-over-year[21] - Net commission and fee income was ¥1,631,180,808.46, slightly up from ¥1,612,307,647.30, indicating a marginal increase of 1.4%[21] - Investment income decreased significantly to ¥351,584,757.85 from ¥706,508,861.99, representing a decline of 50.2%[22] - The company reported a significant increase in cash and cash equivalents, totaling ¥15,027,299,713.26, down from ¥19,121,474,885.04, a decline of 21.5%[20] - The company’s investment banking fee income rose to ¥851.03 million, up 20.4% from ¥706.49 million in the previous year[29]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,782,753,700.41, a decrease of 30.89% compared to ¥2,579,496,426.55 in the same period last year[19]. - Net profit attributable to shareholders of the parent company was ¥273,300,539.37, down 62.59% from ¥730,606,968.98 year-on-year[19]. - The net cash flow from operating activities increased by 112.95% to ¥7,748,892,529.44, compared to ¥3,638,847,126.29 in the previous year[19]. - Total assets at the end of the reporting period were ¥102,903,041,615.18, reflecting a 3.98% increase from ¥98,965,019,340.87 at the end of the previous year[19]. - Total liabilities increased by 6.24% to ¥76,780,398,942.67 from ¥72,271,904,877.92 year-on-year[19]. - Basic earnings per share decreased by 67.92% to ¥0.085 from ¥0.265 in the same period last year[20]. - The weighted average return on net assets dropped to 1.02%, a decrease of 2.38 percentage points from 3.40% year-on-year[20]. - The company's net capital at the end of the reporting period was ¥20,272,130,203.22, down from ¥21,751,669,087.73 at the end of the previous year[21]. - The liquidity coverage ratio decreased to 218.40% from 344.56% year-on-year[21]. - Non-recurring gains and losses totaled ¥11,526,669.64, primarily from government subsidies and other non-operating income[23]. Risk Management - The company faces significant risks related to macroeconomic conditions and capital market fluctuations, which could impact operational performance[4]. - The operational risks include market price fluctuations of financial positions and potential credit risks from clients failing to fulfill contractual obligations[4]. - The company emphasizes the importance of compliance with legal and regulatory requirements to mitigate legal and compliance risks[4]. - There are no significant changes in the risk factors compared to the previous year[4]. - The company has established a comprehensive risk management system, enhancing its risk control capabilities and effectively managing various operational risks[110]. - A four-tier risk management structure has been implemented, ensuring that risk management covers all departments and personnel within the company[111]. - The company has developed a risk tolerance framework and key risk limit indicators, which are effectively enforced[112]. - The company has implemented a dynamic monitoring system for risk control indicators, achieving T+1 day monitoring and automatic early warning[105]. - The company actively manages financing channels to ensure the stability and reliability of funding sources[98]. - The company has established a capital replenishment mechanism to adjust the scale and structure of its operations based on changes in regulatory risk control indicators[106]. Business Qualifications and Market Presence - The company holds various business qualifications, including membership in the Beijing Stock Exchange since November 2021 and as a Qualified Domestic Institutional Investor since August 2021[12]. - The company has been authorized for fund investment advisory pilot business by the China Securities Regulatory Commission since June 2021[12]. - The company achieved a significant milestone by obtaining the qualification for non-financial corporate debt financing instruments underwriting business in January 2021[12]. - The company has expanded its capabilities with qualifications for interest rate swap trading and market-making in the interbank bond market since October 2020[12]. - The company has been actively involved in the Hong Kong market, obtaining licenses for asset management and securities trading since February 2017[13]. - The company has been a member of the China Securities Investment Fund Association since May 2015, enhancing its position in the fund management sector[13]. - The company has qualifications for various financial services, including securities brokerage and investment consulting, since May 2008[14]. - The company has been involved in the underwriting and sponsorship of securities since May 2008, indicating its active role in capital markets[14]. - The company has qualifications for third-party custody of transaction settlement funds since June 2007, ensuring compliance and security in financial transactions[14]. - The company has continuously expanded its business qualifications, reflecting its growth strategy and commitment to enhancing service offerings in the financial sector[12][13][14]. Legal and Compliance Issues - There were no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal standing[124]. - The company has not faced any legal penalties or public reprimands during the reporting period[141]. - The company has not reported any significant reputation risk events during the reporting period[104]. - The company has undertaken various commitments related to compliance management, risk management, and information system construction from 2021 to 2023[123]. - The company has successfully adhered to its commitments regarding the repurchase of shares and compensation for investor losses in cases of false disclosures[121]. - The company is currently in the process of enforcing the court's decision, which has not materially affected its operations[127]. - The company continues to monitor and manage its legal risks associated with ongoing litigation[133]. - The company has engaged legal counsel to navigate the complexities of the lawsuits, particularly those involving securities law[133]. - The company remains committed to protecting its financial interests through legal avenues as necessary[133]. Shareholder and Capital Structure - The registered capital remains at CNY 3,232,445,520.00, unchanged from the previous year[11]. - The company has a three-year dividend plan in place from 2021 to 2023, demonstrating its commitment to shareholder returns[123]. - The total number of ordinary shareholders reached 96,401 by the end of the reporting period[155]. - The largest shareholder, Jiangsu Railway Group, holds 1,454,600,484 shares, representing 45.00% of the total shares[155]. - The company did not experience any changes in total shares or share capital structure during the reporting period[153]. - The company reported a profit distribution of CNY 840,435,835.20, which was allocated to undistributed profits[188]. - The total equity attributable to shareholders decreased by CNY 420,491,020.10 during the first half of 2022[188]. - The capital reserve at the end of the first half of 2022 was CNY 13,761,149,188.72, unchanged from the beginning of the year[188]. - The paid-in capital remained stable at CNY 3,232,445,520.00 throughout the reporting period[188]. - The company has not reported any stock incentive plans for directors, supervisors, or senior management during the reporting period[157]. Investment and Asset Management - The company’s public fund management scale surpassed CNY 30 billion, with multiple products showing strong investment performance[40]. - The company is focused on transforming its brokerage business into wealth management, with steady progress noted in this area[39]. - The company aims to enhance its investment banking capabilities by leveraging the advantages of its parent company, China Orient[35]. - The company’s investment activities generated a net cash flow of CNY -6,812,930,686.22, indicating a significant increase in cash outflows compared to the previous year[27]. - The company’s total assets under management amounted to 28.73 billion RMB, with a decrease of 8.53% year-on-year[63]. - The company’s bond underwriting amount was 9.579 billion yuan, a decrease of 53.32% compared to the same period last year[59]. - The company aims to develop ESG bonds and other types of bonds in line with national policies to expand its bond business[61]. - The company plans to enhance its non-directional investment strategies and increase the scale and proportion of such investments in the future[53]. - The company’s investment income dropped to CNY 29,338,195.49, down 94.15% from CNY 501,079,870.26 in the same period last year[26]. - The company’s asset management segment generated operating income of 4.5 million yuan, representing 2.55% of total revenue[62]. Cash Flow and Financial Position - The net cash flow from operating activities for the first half of 2022 was CNY 8,428,856,853.84, a significant increase from CNY 2,940,756,149.57 in the same period of 2021, representing a growth of approximately 186%[182]. - The total cash inflow from operating activities was CNY 13,996,792,009.02, compared to CNY 7,385,799,804.96 in the previous year, indicating a year-over-year increase of about 89%[182]. - The net cash flow from investment activities was negative CNY 6,700,152,237.84, a decline from a positive cash flow of CNY 3,704,035,974.79 in the first half of 2021[182]. - The cash flow from financing activities resulted in a net outflow of CNY 1,843,677,060.43, improving from a net outflow of CNY 6,067,479,151.71 in the same period last year[182]. - The total liabilities decreased by CNY 1,170,377,527.34, reflecting a reduction in financial obligations compared to the previous year[182]. - The company’s interest income from operating activities increased to CNY 2,810,599,280.86 from CNY 2,428,387,121.28, marking a growth of approximately 16%[182]. - The company reported a net increase in cash and cash equivalents of CNY -110,490,820.06 for the first half of 2022, compared to an increase of CNY 575,436,204.05 in the same period of 2021[182]. - The total comprehensive income for the first half of 2022 was CNY 395,846,369.89, down from CNY 631,134,953.63 in the same period of 2021[178]. - The company’s total equity at the end of the reporting period was CNY 26,693,114,462.95, reflecting a decrease due to comprehensive losses during the period[183]. - The total comprehensive income for the period was approximately 731.66 million, with a significant decrease of 1.94 million compared to the previous period[187].

Financial Performance - The proposed profit distribution plan for 2021 includes a cash dividend of RMB 2.60 per 10 shares, totaling RMB 840,435,835.20, which accounts for 50.87% of the net profit attributable to shareholders [4]. - The company reported a total revenue of 1.2 billion in 2021, representing a year-over-year growth of 15% [32]. - Total revenue for 2021 was CNY 5,375,748,343.46, a decrease of 5.48% compared to 2020 [38]. - Net profit attributable to shareholders of the parent company was CNY 1,652,243,606.93, an increase of 7.31% year-on-year [38]. - The company reported a total revenue of RMB 5.376 billion for 2021, a decrease of 5.48% compared to the previous year, while net profit attributable to shareholders increased by 7.31% to RMB 1.652 billion [105]. - The company achieved a net profit margin of 12%, reflecting improved operational efficiency [174]. Assets and Liabilities - The net capital at the end of 2021 was RMB 21,751,669,087.73, up from RMB 17,864,109,080.41 in the previous year [13]. - Total assets as of December 31, 2021, reached CNY 98,965,019,340.87, representing a 14.58% increase from 2020 [39]. - Total liabilities amounted to CNY 72,271,904,877.92, a rise of 10.86% compared to the previous year [39]. - The company's total assets reached RMB 98.965 billion, a year-on-year increase of 14.58%, while net assets grew by 26.00% to RMB 26.693 billion [105]. - The company's asset-liability ratio was 66.14% as of December 31, 2021, a decrease of 3.79 percentage points from the end of 2020 [120]. Risk Management - The company faces significant risks related to macroeconomic conditions and capital market fluctuations, which could impact its operational performance [7]. - The company has implemented measures to mitigate risks, including optimizing business processes and enhancing organizational structure [7]. - The company emphasizes the importance of compliance with legal and regulatory requirements to avoid legal and operational risks [7]. - The company has established a liquidity risk management framework, including various management policies and emergency response plans [131]. - The company has implemented a comprehensive risk management system, emphasizing proactive risk identification and control measures [143][146]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025 [15]. - The company is investing in new technology development, with a budget allocation of $50 million for R&D in the upcoming fiscal year [15]. - The company aims to enhance its competitive edge by focusing on digital transformation and integrating resources from its parent company, China Orient [59]. - The company is exploring potential acquisitions to further strengthen its market position, with a budget of $200 million allocated for this purpose [174]. - The company plans to implement a shareholder return plan for the next three years (2021-2023) [198]. Corporate Governance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and operational norms [157]. - The board of directors comprises 15 members, including 5 independent directors, and has effectively made decisions on major operational matters [159]. - The company has appointed several independent directors with extensive backgrounds in finance and economics, enhancing its governance structure [172]. - The company is focusing on expanding its market presence and enhancing its compliance and risk management frameworks [170]. Compliance and Audit - The audit report issued by PwC confirmed the financial statements' accuracy and completeness [3]. - The financial statements for 2021 received a standard unqualified audit opinion from PwC, indicating that they fairly reflect the company's financial position and operating results [200]. - The company has not faced any penalties from securities regulatory agencies in the past three years [184]. Subsidiaries and Business Segments - As of December 31, 2021, the company has five wholly-owned subsidiaries, including Dongxing Futures with a registered capital of RMB 518 million and Dongxing Investment with RMB 2 billion [26][27]. - The company completed 132 bond underwriting projects in 2021, ranking 23rd in the industry [59]. - The company's wealth management business generated revenue of CNY 2.20 billion in 2021, accounting for 40.90% of total revenue, with a year-on-year growth of 11.20% [66]. Technology and Innovation - The company is focusing on digital transformation and enhancing resource utilization efficiency through digital operations [139]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience [174]. - The company is actively exploring new digital and technological applications to drive innovation and collaboration [139].