2018 年年度报告 公司代码：601377 公司简称：兴业证券 兴业证券股份有限公司 2018 年年度报告 1 / 265 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 德勤华永会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人杨华辉、主管会计工作负责人夏锦良 及会计机构负责人（会计主管人 员）林红珍声明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 以公司分红派息股权登记日的股份数为基数，拟向全体股东每10股派送现金红利0.5元（含 税）。以公司2018年末股本6,696,671,674.00股计算，共分配现金红利334,833,583.70元，占2018 年当年归属于上市公司股东净利润的247.39%。本次分配后剩余可进行现金分红的未分配利润 5,161,482,332.07元转入下一年度。以上利润分配预案将提交公司股东大会审议 ...

Financial Performance - Operating revenue decreased by 26.26% to CNY 4.58 billion for the first nine months compared to the same period last year[5] - Net profit attributable to shareholders decreased by 63.34% to CNY 726.83 million for the first nine months compared to the same period last year[5] - Basic and diluted earnings per share decreased by 63.33% to CNY 0.11[7] - The weighted average return on equity decreased by 3.94 percentage points to 2.18%[5] - The company reported a net income from investment banking activities decreased by 46.93% to ¥508,660,590.97, primarily due to a decline in underwriting revenue compared to the previous year[13] - The company has not reported any significant changes in net profit or losses compared to the previous year, indicating stability in financial performance[20] Cash Flow - Net cash flow from operating activities was CNY 10.18 billion, a significant recovery from a negative cash flow of CNY -17.91 billion in the same period last year[5] - The net cash flow from financing activities decreased by 126.73% to -¥2,704,032,189.40, mainly due to a reduction in bond issuance compared to the previous year[14] - The company reported a net increase in cash flow from operating activities of approximately ¥28.82 billion for the first nine months of 2018[39] - The total cash inflow from financing activities was ¥45,665,452,816.03, while the cash outflow was ¥48,369,485,005.43, resulting in a net cash flow of -¥2,704,032,189.40 for the third quarter[40] - The net cash flow from investment activities was ¥763,068,004.45, a recovery from a net outflow of -¥62,599,096.50 in the same period last year[43] Assets and Liabilities - Total assets increased by 6.54% to CNY 163.07 billion compared to the end of the previous year[5] - The total liabilities of the company were CNY 127,065,761,231.04, compared to CNY 117,177,108,627.14 at the beginning of the year, which is an increase of about 8.0%[23] - The company's equity attributable to shareholders was CNY 33,221,862,749.00, a slight decrease from CNY 33,428,887,590.67 at the beginning of the year[23] - The company reported a total liability of ¥97,219,285,243.05 as of the end of the third quarter, an increase from ¥94,885,004,921.94 in the previous year[26] - The total equity attributable to shareholders was ¥30,961,516,665.19, slightly up from ¥30,894,342,117.45 year-over-year[26] Shareholder Information - The total number of shareholders reached 234,025 by the end of the reporting period[10] - The largest shareholder, Fujian Provincial Finance Department, holds 20.27% of the shares[10] - The total number of employees participating in the employee stock ownership plan decreased to 2,597 due to the expiration of the lock-up period for the first phase[16] - The employee stock ownership plan holds a total of 68,000,243 shares, representing 1.01% of the company's total equity[17] - The company is currently managing an employee stock ownership plan with 59,341,040 shares, accounting for 0.886% of the total share capital[18] Research and Development - Research and development expenses increased by 97.96% to ¥9,332,154.83, reflecting a rise in investment in R&D activities[13] - Research and development expenses for the first nine months totaled ¥9,332,154.83, with third-quarter R&D expenses of ¥3,302,743.60[29] Other Income and Expenses - The company reported a government subsidy income of CNY 167.24 million for the first nine months[9] - Non-operating income and expenses resulted in a net gain of CNY 196.68 thousand for the reporting period[9] - The company’s other business income grew by 689.69% to ¥124,829,611.81, driven by increased revenue from standard warehouse receipt services by the futures risk management subsidiary[13] Comprehensive Income - The company reported a total comprehensive income of ¥2,275,799,196.24 for the first nine months, with a third-quarter comprehensive income of ¥819,658,398.43[31] - The company recorded a total comprehensive income of approximately ¥240.19 million for Q3 2018, down from ¥480.29 million in the same period last year[36]

Financial Performance - The company's operating revenue for the first half of the year was ¥3,309,422,145.31, a decrease of 18.42% compared to ¥4,056,879,820.79 in the same period last year[23]. - Net profit attributable to the parent company was ¥686,576,447.47, down 47.56% from ¥1,309,346,644.20 year-on-year[23]. - Basic earnings per share decreased by 50.00% to ¥0.10 from ¥0.20 in the previous year[24]. - Total assets increased by 7.24% to ¥164,142,828,544.31 from ¥153,055,400,952.93 at the end of the previous year[23]. - Total liabilities rose by 9.66% to ¥128,496,194,422.29 from ¥117,177,108,627.14 at the end of the previous year[23]. - The company's net capital at the end of the reporting period was ¥34,038,708,554.05, down from ¥34,516,263,340.02 at the end of the previous year[25]. - The risk coverage ratio improved to 216.60% from 206.30% year-on-year[25]. - Non-operating income from government subsidies amounted to ¥165,139,962.45, primarily from fiscal support funds[26]. - The company reported a total of ¥103,476,245.28 in non-recurring gains and losses for the period[26]. - The liquidity coverage ratio decreased significantly to 424.74% from 780.17% at the end of the previous year[25]. Asset Management and Investment - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management[14]. - The asset management business maintained a strong investment management capability, with public fund management scale exceeding CNY 200 billion[41]. - The company's investment income rose by 5.38% to ¥1,706,173,578.64 from ¥1,619,048,265.35 year-on-year[29]. - The company's total assets under management in the asset management sector reached 99.6 billion yuan, with actively managed assets amounting to 64.3 billion yuan[53]. - The company achieved a net income of 1.041 billion yuan from financial product sales, reflecting an 84.04% year-on-year increase, surpassing the industry growth rate of 42.62%[51]. Risk Management - The company emphasizes the importance of risk management and has detailed potential risks in its report[5]. - The company faces various risks including market risk, liquidity risk, credit risk, and operational risk, and has established a comprehensive risk management system[80]. - Market risk includes equity price risk, interest rate risk, and exchange rate risk, with the company employing sensitivity analysis and value-at-risk (VaR) metrics to monitor these risks[82]. - The company has implemented a liquidity risk management system to ensure timely access to sufficient funds to meet obligations, with no significant liquidity risk events reported during the period[84]. - Credit risk arises from various sources, including brokerage business, bond investment defaults, and counterparty credit risk, with measures in place to mitigate these risks[85]. Legal and Compliance Issues - There is an ongoing major litigation involving the company, specifically a stock pledge repurchase transaction case with Industrial Securities[99]. - The company faced 26 lawsuits from investors claiming damages totaling approximately 294.72 million yuan due to false statements in the IPO application documents[101]. - The first-instance judgment in June 2018 supported the company's claims and dismissed the plaintiffs' requests[101]. - The company is currently appealing certain judgments, indicating a proactive legal strategy[101]. - The ongoing legal issues may impact the company's financial stability and market perception[101]. Corporate Governance - The board of directors and management have confirmed the authenticity and completeness of the financial report[6]. - The company appointed Liu Hongzhong as an independent director, replacing Zhu Ning, who resigned for personal reasons[161]. - The company has not disclosed any new product developments or market expansion strategies during this reporting period[101]. - The company has not provided any future performance guidance or outlook in the current report[163]. Social Responsibility and Community Engagement - The company actively participates in poverty alleviation efforts, focusing on education and industry investment in impoverished areas[118]. - The company signed a pairing assistance agreement with the People's Government of Changdu City, Tibet, to expand its poverty alleviation efforts[118]. - The company has established special poverty alleviation funds to support educational initiatives in impoverished regions[118]. - The total funding allocated for various projects amounts to 109.68 million[120]. - The company is committed to fulfilling its social responsibility by deepening poverty alleviation efforts in Fujian Province[129]. Capital Structure and Financing - The registered capital of Industrial Securities remains at RMB 6,696,671,674, unchanged from the previous year[13]. - The company is actively seeking multiple channels for net capital replenishment to meet strategic and business development needs[89]. - The company plans to non-publicly issue A-shares, with a total fundraising amount not exceeding 8 billion RMB, including a minimum subscription of 1.63 billion RMB from the controlling shareholder, Fujian Provincial Finance Department[133]. - The company issued a total of 15 billion CNY in bonds with a 6.00% interest rate, maturing on March 13, 2019[165]. - The company has maintained compliance with investor suitability regulations for its bond offerings[169]. Operational Performance - The company's operating costs decreased by 12.51% year-on-year, amounting to CNY 2.06 billion[44]. - The company's proprietary trading revenue dropped by 71.39% year-on-year, with a gross margin reduction of 132.19 percentage points, making up 9.72% of total revenue[49]. - The company's total profit was CNY 1.25 billion, a decline of 31.33% compared to the previous year, primarily due to the drop in revenue[46]. - The number of branches remained stable at 173, with total operating revenue from branches increasing to approximately CNY 1.08 billion in 2018 from CNY 1.03 billion in 2017, reflecting a growth of about 4.3%[57].

2018 年第一季度报告 公司代码：601377 公司简称：兴业证券 兴业证券股份有限公司 2018 年第一季度报告 1 / 16 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 2018 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | | 上年度末 | | 本报告 | | --- | --- | --- | --- | --- | | | | | | 期末比 | | | 本报告期末 | 调整后 | 调整前 | 上年度 | | | | | | 末增减 | | | | | | (%) | | 总资产 | 165,015,192,309.01 | 153,055,400,952.93 | 153,055,400,952.93 | 7.81 | | 归属于上市公司 | 33,722,859,172.68 | 33,428,887,590.67 | 33,428,887,590.67 | 0.88 | | 股东的净资 ...

Financial Performance - The company reported a total revenue of 500 million for the year 2017, maintaining a steady growth trajectory [29]. - The company reported a total revenue of 1.5 billion in Q3 2023, representing a year-over-year growth of 15% [30]. - The company reported a total revenue of 1.2 billion in 2017, representing a year-over-year growth of 15% [37]. - The company reported a total revenue of 1.5 billion in 2017, representing a year-over-year growth of 10% [35]. - The company reported a total revenue of 10 billion RMB for the fiscal year 2017, representing a year-over-year increase of 15% [41]. - The company reported a total revenue of 6,111,308,543.11, representing a year-on-year increase of 20.31% [56]. - The company achieved operating revenue of CNY 8.819 billion, with a year-on-year increase of 16.21% [78]. - The company reported a significant increase in investment income, which surged by 92.67% to ¥3,590,355,427.54, up from ¥1,863,496,738.86 in 2016 [53]. - The net profit for 2017 was ¥1,942,690,352.81, reflecting a growth of 25.70% compared to the previous year [56]. - The net profit attributable to shareholders of the parent company for 2017 was ¥2,284,896,126.79, an increase of 11.66% from ¥2,046,321,431.54 in 2016 [46]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares, totaling approximately 1,004,500,751.10 RMB, which represents 43.96% of the net profit attributable to shareholders for 2017 [5]. - The company’s profit distribution plan for 2017 is subject to approval at the shareholders' meeting [151]. - The company has a cash dividend policy that has been consistently applied over the past three years, with a cash dividend payout ratio of 43.96% in 2017 [149]. - The remaining undistributed profit after the dividend distribution is CNY 4,765,566,648.01, which will be carried forward to the next year [150]. - The company has committed to distributing at least 30% of the average annual distributable profit over the three years from 2015 to 2017 in cash dividends, provided that it is profitable and cash flow meets operational needs [153]. Capital Structure and Assets - The company’s registered capital remains unchanged at 6,696,671,674 RMB, indicating stability in its capital structure [15]. - The total assets at the end of 2017 reached ¥153,055,400,952.93, a 12.10% increase from ¥136,534,824,716.61 in 2016 [46]. - The total liabilities at the end of 2017 were ¥117,177,108,627.14, reflecting a 14.61% increase from ¥102,236,774,034.36 in 2016 [46]. - The total equity attributable to shareholders of the parent company at the end of 2017 was ¥33,428,887,590.67, a 5.48% increase from ¥31,692,855,997.57 in 2016 [46]. - The company’s total assets included CNY 14.334 billion in overseas assets, accounting for 9.37% of total assets [69]. Risk Management - The company has established a comprehensive risk management system to address various risks including market risk, liquidity risk, credit risk, and operational risk [130]. - The company’s market risk management includes sensitivity analysis, Value at Risk (VaR), and stress testing to ensure risks are measurable and controllable [132]. - The company established a liquidity risk limit and early warning system to monitor liquidity risk based on business scale and market changes [133]. - The company maintained a liquidity reserve pool to ensure the ability to meet cash flow gaps within normal settlement periods [134]. - The company has implemented a strict internal rating system for bond investments to mitigate default risks, with a focus on monitoring issuer credit ratings [136]. Business Expansion and Strategy - The company is actively involved in various financial services, including futures brokerage and asset management, enhancing its market presence [20]. - The company has been actively pursuing international expansion, with its subsidiary successfully listed on the Hong Kong Stock Exchange in 2017 [24]. - Market expansion plans include entering three new provinces, projected to increase market share by 10% [29]. - The company is considering strategic acquisitions to bolster its competitive position, with a budget of 200 million allocated for potential deals [29]. - The company is exploring strategic partnerships to enhance its market presence and expand its client base [73]. Compliance and Governance - The company has established a comprehensive compliance management system to ensure adherence to legal and regulatory requirements [140]. - The company has not faced any risks of suspension or termination of listing during the reporting period [161]. - The company has implemented a compliance management system in accordance with the requirements of the China Securities Regulatory Commission [142]. - The company has retained Deloitte Huayong as the external auditor for the seventh consecutive year, with a total audit fee of RMB 2.2 million for the 2017 fiscal year [160]. - The company has established third-party custody relationships for all trading and fund accounts, ensuring compliance and security [196]. Legal Matters - The company is facing a total claimed amount of RMB 2.816 million from ongoing lawsuits, with the first instance hearings already commenced [164]. - The company has initiated arbitration against Xintai Electric and related parties for a total claim of 21.38 million CNY due to breach of contract [166]. - The company has been involved in litigation concerning a bond repayment of 100 million yuan plus 2.2 million yuan in interest from Beijing Jingcai Unlimited Audio-Visual Co., Ltd. [167]. - The company has not disclosed any new major related party transactions during the reporting period [179]. - The company is actively seeking to resolve its legal disputes through various court proceedings [167]. Research and Development - The company is investing 50 million in research and development for new technologies aimed at improving service efficiency [29]. - The company invested 200 million in R&D for new technologies, focusing on enhancing user experience and product efficiency [35]. - The company’s research and institutional service capabilities ranked among the top in the industry, with a 3rd place in the New Fortune Best Research Team ranking [71]. - The company’s self-developed platform and component library won the highest achievement award at the Cloud Eagle Awards, showcasing its leadership in IT and cloud computing [96]. - The company plans to invest in technology to improve its asset management capabilities and enhance client services [73].

Financial Performance - In 2017, the company achieved operating revenue of RMB 884.86 million, an increase of 16.60% compared to the previous year[3] - The net profit attributable to shareholders of the listed company was RMB 231.26 million, reflecting a growth of 13.01% year-on-year[5] - Total assets at the end of 2017 reached RMB 1,530.45 billion, up 12.09% from the beginning of the year[5] - The net assets attributable to shareholders of the listed company were RMB 334.36 billion, increasing by 5.50% compared to the start of the year[5] - Basic earnings per share rose to RMB 0.35, a 12.90% increase from RMB 0.31 in the previous year[3] - The weighted average return on net assets improved to 7.12%, an increase of 0.23 percentage points from the previous year[3] Strategic Management - The company continues to implement its strategic plan to build a first-class securities financial group, adapting to market changes[4] - The company maintains a prudent management approach while effectively advancing its competitive strategies[4] Investor Awareness - The company emphasizes the importance of investor awareness regarding potential investment risks[6] - The financial data presented are preliminary and may differ from the final annual report, with expected discrepancies not exceeding 10%[6]

Financial Performance - Operating revenue for the first nine months reached CNY 6.21 billion, a 5.61% increase from the same period last year[6] - Net profit attributable to shareholders decreased by 3.04% to CNY 1.98 billion compared to the previous year[6] - Basic earnings per share were CNY 0.30, down 3.23% from CNY 0.31 in the previous year[6] - Total operating revenue for Q3 2017 was approximately ¥2.15 billion, a decrease of 8.2% compared to ¥2.34 billion in Q3 2016[25] - Net profit for Q3 2017 was approximately ¥770 million, a decrease of 24.7% compared to ¥1.02 billion in Q3 2016[26] - Comprehensive income totalled approximately ¥820 million, down 35.9% from ¥1.28 billion in Q3 2016[27] - Net profit for the first nine months of 2017 reached CNY 1,550,014,362.32, down 9% from CNY 1,701,793,330.56 in the same period last year[30] Assets and Liabilities - Total assets increased by 8.83% to CNY 148.59 billion compared to the end of the previous year[6] - Total liabilities increased to CNY 112.83 billion from CNY 102.24 billion, marking a rise of about 10.5%[20] - The company's cash and cash equivalents decreased to CNY 24.01 billion from CNY 26.71 billion, a decline of about 10.1%[19] - Client deposits fell to CNY 17.69 billion from CNY 19.53 billion, a decrease of approximately 9.4%[19] - The settlement reserve decreased by 62.34% to CNY 3.71 billion due to a reduction in client reserve funds[12] - Short-term borrowings increased by 34.38% to CNY 5.28 billion, primarily due to an increase in short-term borrowings by the Hong Kong subsidiary[12] Cash Flow - The company reported a net cash outflow from operating activities of CNY 17.91 billion for the first nine months, compared to CNY 15.90 billion in the same period last year[6] - Cash flow from operating activities for the first nine months of 2017 was negative at CNY -17,912,122,519.66, compared to CNY -15,901,237,626.37 in the same period last year[32] - Cash flow from investing activities showed a net outflow of CNY -953,778,623.13 for the first nine months of 2017, compared to a net inflow of CNY 1,605,987,645.60 in the previous year[33] - The total cash inflow from operating activities was 14,114,719,368.23, compared to 9,306,759,851.76 in the previous year, showing growth in operational revenue[36] Shareholder Information - The total number of shareholders reached 246,217 by the end of the reporting period[8] - The largest shareholder, Fujian Provincial Finance Department, holds 20.27% of the shares[8] Investment and Income - Investment income increased by 41.13% to CNY 2.48 billion, attributed to higher returns from trading financial instruments compared to the previous year[14] - The company reported a significant increase in buyback financial assets, which rose to CNY 36.35 billion from CNY 20.91 billion, an increase of approximately 73.9%[19] - The company reported a 5369.99% increase in foreign exchange gains to CNY 52.82 million, primarily due to currency fluctuations[14] Expenses - Total operating expenses increased to ¥1.26 billion, up 10.1% from ¥1.14 billion in Q3 2016[26] - The company incurred a tax expense of CNY 293,817,606.97 for the first nine months of 2017, compared to CNY 359,403,289.26 in the same period last year[30]

Capital Structure and Financial Position - The registered capital of Industrial Securities remains at CNY 6,696,671,674.00, unchanged from the previous year[11]. - The net capital increased to CNY 33,010,379,770.66, up from CNY 30,797,344,724.42, reflecting a growth of approximately 7.2%[11]. - Total assets at the end of the reporting period amounted to ¥149,624,495,154.85, a 9.59% increase from the end of the previous year[19]. - The total liabilities increased by 12.61% to ¥115,124,258,440.11 compared to the previous year-end[19]. - The company's equity attributable to shareholders was RMB 32.05 billion, showing a growth of RMB 357 million or 1% compared to the beginning of the year[69]. - The asset-liability ratio, excluding client funds, was 72%, an increase of 5 percentage points from the beginning of the year[69]. - The total equity at the end of the current period is RMB 34,500,236,714.74, compared to RMB 34,298,050,682.25 at the end of the previous period, indicating a total increase of RMB 202,186,032.49[192]. Revenue and Profitability - The company's operating revenue for the first half of the year reached ¥4,056,753,044.52, representing a 14.77% increase compared to the same period last year[19]. - Net profit attributable to shareholders was ¥1,309,346,644.20, up 17.79% year-on-year[19]. - The total profit reached 1.82 billion yuan, reflecting a year-on-year growth of 10.82%[35]. - Investment income increased significantly by 134.69% to 1.62 billion yuan, driven by strong returns from equity investments[39]. - The company's net profit for the current period was ¥1,462,856,031.64, a rise of 14.4% from ¥1,277,598,139.63 in the previous period[182]. - The total comprehensive income for the current period was ¥1,456,140,797.81, compared to ¥1,198,060,225.85 in the previous period, reflecting a growth of 21.5%[182]. Cash Flow and Liquidity - The company reported a significant increase in cash flow from operating activities, with a net cash flow of -¥10,447,323,498.90, indicating a stable cash flow management strategy despite the negative figure[19]. - The net cash flow from operating activities was -10,447,323,498.90 CNY, slightly worse than the previous period's -10,413,235,126.29 CNY[186]. - The cash inflow from financing activities reached 30,180,732,874.72 CNY, an increase from 26,375,127,508.10 CNY in the prior period[187]. - The company incurred a net cash outflow of 2,892,736,517.47 CNY in cash and cash equivalents during the period[187]. - The company maintained a quality liquidity reserve pool to ensure sufficient liquid assets are available to cover cash flow gaps[86]. Risk Management - The report includes a detailed risk disclosure section, highlighting potential risks faced by the company[5]. - The company faces various risks including market risk, liquidity risk, credit risk, and operational risk, and has established a comprehensive risk management system to monitor and control these risks[83]. - The company has established a comprehensive market risk key indicator system, utilizing methods such as risk exposure analysis and Value at Risk (VaR) analysis to assess various market risks, ensuring that overall market risk remains within measurable and controllable limits[85]. - The company has set liquidity risk limits and early warning systems, monitoring liquidity risk based on business scale and market changes, ensuring timely responses to cash flow anomalies[86]. Corporate Governance and Compliance - The board of directors and senior management confirmed the accuracy and completeness of the semi-annual report, assuming legal responsibility for any misstatements[2]. - The company has not made any changes to its board or supervisory board during the reporting period[96]. - The company has reappointed Deloitte Huayong as the external auditor for the 2017 financial year, with audit fees totaling RMB 2.2 million[100]. - The company has not encountered any major litigation or arbitration matters outside of the ongoing cases related to Xintai Electric[100]. Shareholder and Dividend Policy - The company has not proposed any profit distribution or capital reserve transfer plans for the reporting period[3]. - The company has committed to distributing at least 30% of the average annual distributable profits over the next three years (2015-2017) in cash, ensuring a stable profit distribution policy[98]. - The company has maintained a commitment to a cash dividend policy, prioritizing cash distributions when profits and cash flow allow[98]. Legal Matters and Contingent Liabilities - The company is involved in significant litigation related to the IPO of Xintai Electric, with claims totaling approximately RMB 2.9472 million, for which the company bears joint liability[100]. - The company reported a contingent liability of CNY 952.1 million related to a civil lawsuit involving a client, with the case still pending in court[104]. - The company is actively pursuing legal remedies to mitigate financial losses stemming from the fraudulent activities of Xintai Electric[101]. Community Engagement and Social Responsibility - The company has committed to donate up to 1% of the total profit of the parent company to the Xingye Charity Foundation annually[114]. - The company invested a total of 8.05 million RMB in targeted poverty alleviation efforts during the first half of 2017[115]. - The education poverty alleviation program directly benefited approximately 10,400 rural children through the establishment of 10 "Dream Centers" and training for 182 teachers[115]. - The company facilitated equity financing and other financial services for enterprises in national-level poverty-stricken counties, raising 462 million RMB for Shaanxi Zhongzai Resources Environmental Co., Ltd.[122]. Employee and Operational Developments - As of June 30, 2017, the company had a total of 5,627 employees, including 6 senior management personnel[199]. - The company established 47 branches and 128 business departments as of June 30, 2017[200].

兴业证券 2017 年第一季度报告 公司代码：601377 公司简称：兴业证券 兴业证券股份有限公司 2017 年第一季度报告 1 / 16 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 兴业证券 2017 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人兰荣、主管会计工作负责人郑苏芬及会计机构负责人（会计主管人员）林红珍保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 兴业证券 2017 年第一季度报告 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | 44,138.97 | 主要为固定资产处置收益 | | 计入当期损益的政府补助，但与公 ...

Financial Performance - The proposed cash dividend is 1.5 RMB per 10 shares, totaling approximately 994.3 million RMB, which accounts for 48.59% of the net profit attributable to shareholders for 2016 [2]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2016, representing a year-over-year increase of 15% [31]. - The net profit attributable to shareholders reached 300 million RMB, up 20% compared to the previous year [32]. - The company reported a year-on-year revenue growth of 15%, reaching a total revenue of 5 billion RMB for the fiscal year [34]. - The company reported a net profit margin of 30%, maintaining strong profitability despite market fluctuations [33]. - The company reported a total operating income of 758.91 million RMB, a decrease of 34.24% year-on-year, with significant declines across various regions [102]. - The total profit for the year was CNY 2.91 billion, down 50.87% year-on-year [81]. - The net profit attributable to shareholders was CNY 2.05 billion, reflecting a 50.89% decline from the previous year [81]. - The company reported a significant increase in user data, reflecting a growing customer base and enhanced market engagement [29]. Capital Structure and Investments - The registered capital increased to 6.7 billion RMB from 5.2 billion RMB in the previous year, reflecting a growth in capital structure [13]. - The net capital rose significantly to approximately 30.8 billion RMB, up from 16.9 billion RMB, indicating improved financial stability [13]. - The company completed a capital increase of RMB 1 billion for its wholly-owned subsidiary, and also raised HKD 1.5 billion for another subsidiary, indicating ongoing expansion efforts [122]. - The company invested a total of approximately RMB 889 million in direct equity investments during the reporting period [123]. - The company has a diverse portfolio of subsidiaries, including investment management firms with total assets under management reaching 7 billion yuan [29]. Market Expansion and Branch Network - The company has expanded its presence with multiple branches across China, including Shanghai, Beijing, and Shenzhen, all established with an operating capital of 500 million yuan each [27]. - The company aims to enhance its market reach by establishing new branches in provinces such as Jiangsu, Shandong, and Zhejiang, contributing to its overall growth strategy [27]. - The company is expanding its market presence by opening 5 new branches in key cities, aiming to increase market share by 5% [31]. - The company plans to expand its market presence by opening 10 new branches in key cities in 2017 [32]. - The company has launched a new financial product aimed at retail investors, which is anticipated to contribute an additional 200 million RMB in revenue [34]. Risk Management and Compliance - The company has outlined potential risks in its future development strategies, emphasizing the importance of risk management [6]. - The company has established a comprehensive risk management system to address market, liquidity, credit, and operational risks, ensuring risks are measurable, controllable, and bearable [148]. - The company has implemented a liquidity risk limit and early warning system to monitor liquidity risk and ensure timely responses to cash flow abnormalities [151]. - The company has focused on enhancing its internal control and risk management capabilities in response to regulatory requirements and past lessons learned [146]. - The company received an administrative penalty from the China Securities Regulatory Commission (CSRC) on July 27, 2016, resulting in a warning, confiscation of underwriting income of 12 million yuan, and a fine of 24 million yuan [192]. Legal Matters and Litigation - The company is involved in arbitration related to the fraudulent issuance of shares by Xintai Electric, seeking compensation of RMB 39.6 million [186]. - The company is seeking compensation of CNY 21.38 million due to losses from the fraudulent issuance by Xintai Electric [187]. - A lawsuit has been filed against Xintai Electric for CNY 37.93 million, claiming negligence in due diligence during the IPO process [188]. - The company is actively involved in legal proceedings to recover losses from various entities related to its investment activities [188]. - The company has taken measures to secure its claims through legal channels, including arbitration and civil lawsuits [187]. Research and Development - Research and development expenses increased by 25%, focusing on enhancing trading technology and user experience [31]. - The company’s new generation of self-controlled R&D system was awarded the "2016 Financial Industry Development Innovation Contribution Award," enhancing its R&D capabilities and operational efficiency [101]. - Research and development expenditures totaled CNY 45,331,129.08, representing 0.60% of total operating revenue, with 29.13% of R&D costs capitalized [109]. Corporate Governance and Audit - The company has engaged Deloitte Huayong as the external auditor for the sixth consecutive year, with a total audit fee of RMB 2.1 million for the 2016 fiscal year [184]. - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period [181]. - The company has a commitment to ensure that profits are distributed in a manner that aligns with long-term development needs and overall shareholder interests [180].