Group 1 - The core point of the article is the resignation of Cheng Fei from Guosen Securities after four years, and his subsequent move to a leading asset management firm, Shanghai Dongfang Securities Asset Management Co., Ltd [1] - Cheng Fei held the position of Vice President at Guosen Securities before his departure [1] - The article also mentions the recent resignation of Zhang Feng, the former General Manager of Dongfang Hong Asset Management, who left for personal reasons, with Yang Bin, the company's Party Secretary and Chairman, taking over the role temporarily [1]

Core Viewpoint - The departure of Cheng Fei from Guosen Securities to join Dongfang Hong Asset Management marks a significant shift in the asset management landscape, highlighting the ongoing changes and challenges within the industry [2][10]. Group 1: Cheng Fei's Departure and Background - Cheng Fei resigned from his position as Vice President of Guosen Securities after nearly four years, with plans to join Dongfang Hong Asset Management [2][3]. - He has nearly 20 years of experience in the asset management industry, particularly in fixed income investment research, having previously worked at Guotai Junan [3][4]. - During his tenure at Guosen Securities, Cheng aimed to enhance the performance of the asset management business and establish a subsidiary, which he successfully accomplished [6][8]. Group 2: Performance and Achievements at Guosen Securities - Under Cheng's leadership, the asset management revenue at Guosen Securities increased from 2.27% of total revenue in 2021 to 4.23% in 2024, with a revenue of 850 million yuan in the last year, reflecting a year-on-year growth of 60.55% [6][7]. - The ranking of Guosen Securities' asset management business improved from 22nd in 2021 to 13th in the first half of 2024 in terms of net income from fees among 43 listed brokerages [7]. - Cheng emphasized a focus on high-net-worth clients and the development of distinctive products during his time at Guosen [8]. Group 3: Challenges Facing Dongfang Hong Asset Management - Dongfang Hong Asset Management, which has faced a decline in its asset management scale and brand reputation, reported a revenue of 1.435 billion yuan and a net profit of 333 million yuan for 2024 [11]. - The company's assets under management (AUM) have decreased from a peak of 269.72 billion yuan in 2021 to 166.17 billion yuan by the end of 2024, dropping its ranking from 24th to 41st among public fund institutions [11][12]. - The firm has experienced significant turnover in its investment research team, with 13 fund managers leaving since 2020, which poses a challenge for maintaining investment performance and client trust [12][13].

Core Insights - Guosen Securities reported a strong financial performance for 2024, achieving operating revenue of 20.167 billion yuan, a year-on-year increase of 16.46%, and a net profit of 8.217 billion yuan, up 27.84%, outperforming the industry and large brokerages [2][3][4] Business Performance - The investment and trading segment saw remarkable growth, with revenue increasing by 68.86%, contributing 44.64% to total revenue [5][6] - Wealth management and institutional business generated 8.810 billion yuan in revenue, a 17.97% increase, supported by a digital transformation strategy [4][6] - Asset management revenue rose to 0.852 billion yuan, reflecting a 60.55% increase, with total net asset management scale reaching 144.764 billion yuan [6] Market Position - Guosen Securities maintained a strong market position, with brokerage client assets exceeding 2.4 trillion yuan, an 11% increase year-on-year, and a market share in the stock and fund market of 2.75%, up approximately 15% [4][6] - The company completed 11.17 underwriting projects, ranking ninth in the industry, and raised 12.605 billion yuan, ranking sixth [4] Regional Focus - As a major player in the Guangdong-Hong Kong-Macao Greater Bay Area, Guosen Securities has supported 92 IPOs and 64 refinancing projects, with a total financing scale of approximately 125.6 billion yuan [7] - The company is actively involved in cross-border financial services, participating in the "Cross-Border Wealth Management Connect" pilot program [7][8]

Core Viewpoint - The company has demonstrated strong financial performance in 2024, with significant growth in revenue and net profit, while maintaining a leading position in the securities industry amidst a favorable market environment [3][18][25]. Company Overview - In 2024, the company achieved operating revenue of 20.167 billion yuan and net profit of 8.217 billion yuan, representing year-on-year increases of 16.46% and 27.84% respectively [18][25]. - The company has maintained a strong market position, with total assets reaching 501.506 billion yuan and net assets of 118.692 billion yuan by the end of 2024, reflecting growth of 8.33% and 7.45% compared to the previous year [18][25]. Industry Performance - The securities industry experienced a significant increase in trading volume, with total trading volume in the Shanghai and Shenzhen markets reaching 254.8 trillion yuan, a year-on-year increase of 20.1% [3]. - The industry saw a rise in operating income to 451.169 billion yuan and net profit to 167.257 billion yuan, with increases of 11.15% and 21.35% respectively compared to the previous year [3]. Business Segments - Wealth management and institutional business generated operating revenue of 8.810 billion yuan, up 17.97% year-on-year, reflecting the company's focus on providing comprehensive financial services [27]. - The investment and trading business reported operating revenue of 9.002 billion yuan, a substantial increase of 68.86% year-on-year, indicating strong performance in trading activities [53]. Competitive Advantages - The company benefits from a strong shareholder base, with over 80% of shares held by state-owned enterprises, providing a stable foundation for growth [9]. - The company has established a robust digital financial ecosystem, leveraging technology to enhance service delivery and operational efficiency [12][13]. Future Outlook - The company aims to continue enhancing its service capabilities and expanding its market presence, particularly in the context of ongoing reforms in the capital market and the growing demand for diversified financial services [21][31].

国信证券股份有限公司 第五届监事会第二十三次会议（定期）决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：002736 证券简称：国信证券 公告编号：2025-022 国信证券股份有限公司（以下简称"公司"）于2025年4月8日以电子邮件的 方式发出第五届监事会第二十三次会议（定期）通知。会议于2025年4月18日在 深圳以现场方式召开，应出席监事3名，实际出席监事3名。公司部分高级管理人 员列席了会议。监事会召集人洪伟南主持会议。本次会议的召开符合《公司法》 等相关法律法规和《公司章程》的规定。监事会审议了会议通知所列明的议案， 并通过决议如下： 一、审议通过《2024 年度利润分配方案》 全体监事认为，公司 2024 年度利润分配方案符合《公司法》《证券法》、 中国证监会关于上市公司现金分红的有关规定以及《公司章程》的规定，符合公 司目前的实际经营状况，有利于公司的长期发展，不存在损害公司中小投资者利 益的情形。 议案表决情况：三票赞成、零票反对、零票弃权。 《2024 年度利润分配方案》尚需提交股东大会审议。 《关于 2024 年度利润 ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 国信证券股份有限公司（以下简称"公司"）于2025年4月8日以电子邮件 的方式发出第五届董事会第四十次会议（定期）书面通知，2025年4月16日和4 月17日发出本次会议的书面补充通知。会议于2025年4月18日在深圳以现场方式 召开，应出席董事9名，实际出席董事9名，姚飞董事因工作原因未能参会，委 托邓舸董事代为出席并表决，其余8位董事以现场方式出席，全体监事及部分高 级管理人员列席了会议。张纳沙董事长主持会议。本次会议的召开符合《公司法》 等相关法律法规和《公司章程》的规定。 一、董事会审议通过以下事项并同意提交股东大会审议： 证券代码：002736 证券简称：国信证券 公告编号：2025-021 国信证券股份有限公司 第五届董事会第四十次会议（定期）决议公告 1、《2024 年度财务决算报告》 议案表决情况：九票赞成、零票反对、零票弃权。 本议案已经公司第五届董事会审计委员会 2025 年第三次会议审议通过。 2、《2024 年度利润分配方案》 经容诚会计师事务所（特殊普通合伙）审计，母公司 2024 年度 ...

证券代码：002736 证券简称：国信证券 编号：2025-026 国信证券股份有限公司 经容诚会计师事务所（特殊普通合伙）审定，公司 2024 年度母公司实现净 利润 8,144,891,519.42 元。根据《公司法》《证券法》《金融企业财务规则》 及《国信证券股份有限公司章程》（以下简称《公司章程》）等有关规定，从公 司发展和股东利益等综合因素考虑，制订利润分配方案如下： 按照《公司章程》规定，提取 10%的一般风险准备金、10%的交易风险准 备金共计 1,628,978,303.88 元，因法定盈余公积金累计额已达到注册资本的 50% 以上，本年不再提取；根据《公开募集证券投资基金风险准备金监督管理暂行办 法》的规定，按照公募基金托管费收入的 2.5%提取一般风险准备金 416,396.92 元；根据《证券公司大集合资产管理业务适用<关于规范金融机构资产管理业务 的指导意见>操作指引》的规定，按不低于大集合资产管理业务管理费收入的 10% 计提一般风险准备金 24,259,662.28 元；根据《重要货币市场基金监管暂行规定》 的规定，按照不低于从重要货币市场基金取得的全部销售收入的 20%计提一般 ...

RSM 容诚 非经营性资金占用及其他关联资金 往来情况专项说明 国信证券股份有限公司 容诚专字[2025]518Z0095 号 容诚会计师事务所(特殊普通合伙) 中国 北京 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（bttp://a.co.nof.gov.cn））"进行 ："社干 目 | 序号 | | 内 | 容 | 页码 | | --- | --- | --- | --- | --- | | | 专项说明 | | | 1-2 | | 2 | 非经营性资金占用及其他关联资金往来情况汇总表 | | | | yy - 关于国信证券股份有限公司 非经营性资金占用及其他关联资金往来情况专项说明 容诚专字[2025]518Z0095 号 国信证券股份有限公司全体股东: 我们接受委托,依据中国注册会计师审计准则审计了国信证券股份有限公司 (以下简称国信证券)2024年12月31日的合并及母公司资产负债表,2024年度 的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所有者权益变 动表以及相关财务报表附注,并于 2024年4月18日出具了容诚审字 [2025]518Z0533 号的无保留意见审计报 ...

国信证券股份有限公司 2024 年年度报告摘要 证券代码：002736 证券简称：国信证券 公告编号：2025-020 国信证券股份有限公司 2024 年年度报告摘要 第一节 重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资 者应当到中国证监会指定媒体仔细阅读年度报告全文。 本年度报告摘要经公司第五届董事会第四十次会议（定期）审议通过。所有董事均已出席了审议本报 告的董事会会议。未有董事、监事、高级管理人员对本报告提出异议。 公司2024年度财务报告已经容诚会计师事务所（特殊普通合伙）审计，并出具了标准无保留意见的审 计报告。 经公司第五届董事会第四十次会议（定期）审议通过的利润分配预案为：以2024年12月31日总股本 9,612,429,377股为基数，向全体股东每10股派发现金红利3.50元（含税），不进行送股或以公积金转增 股本。 第二节 公司基本情况 一、公司简介 | 股票简称 | 国信证券 | 股票代码 | 002736 | | --- | --- | --- | --- | | 股票上市交易所 | 深圳证券交易所 | | | | 联系人和联系方式 ...

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