Financial Performance - Total operating revenue for the first half of 2020 was CNY 574,334,506.45, representing a 26.71% increase compared to CNY 453,266,899.55 in the same period last year[12]. - Net profit attributable to shareholders was CNY 284,606,973.31, a 55.74% increase from CNY 182,744,875.10 year-on-year[12]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 256,253,778.65, up 43.12% from CNY 179,044,258.34 in the previous year[12]. - Basic earnings per share rose to CNY 0.11, a 57.14% increase from CNY 0.07 in the previous year[12]. - Total revenue for the first half of 2020 was CNY 560.94 million, an increase of 24.28% compared to the same period last year[13]. - Net profit for the first half of 2020 reached CNY 273.85 million, representing a growth of 48.92% year-on-year[13]. - Basic and diluted earnings per share increased by 42.86% to CNY 0.10 per share[13]. - The total operating profit for the reporting period reached CNY 324,356,063.29, representing a 59.70% increase compared to CNY 203,102,685.48 in the same period last year[46]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 31,489,832,426.36, a 90.74% increase from CNY 16,509,632,681.04 at the end of the previous year[12]. - Total liabilities increased to CNY 25,871,711,781.53, reflecting a 131.59% rise from CNY 11,171,270,964.54 year-on-year[12]. - Net assets attributable to shareholders were CNY 5,618,120,644.83, a 5.24% increase from CNY 5,338,361,716.50 at the end of the previous year[12]. - Total assets at the end of the reporting period amounted to CNY 31.36 billion, a 73.40% increase from the previous year[13]. - Total liabilities rose to CNY 25.82 billion, marking a significant increase of 101.49% compared to the end of the previous year[13]. - The company's cash and cash equivalents amounted to CNY 7,986,080,588.40, accounting for 25.36% of total assets, down from 35.28% in the previous year[47]. Cash Flow - Net cash flow from operating activities was CNY 1,294,717,671.90, an increase of 16.07% compared to CNY 1,115,421,867.31 in the same period last year[12]. - Cash flow from operating activities decreased by 44.43% to CNY 678.70 million[13]. - The net cash flow from operating activities for the first half of 2020 was CNY 1,294,717,671.90, compared to CNY 1,221,422,599.72 in the same period of 2019, showing an increase of approximately 6%[126]. - The total cash inflow from operating activities reached CNY 15,815,815,435.29, significantly up from CNY 4,731,694,311.59 in the previous year, representing a growth of over 235%[128]. Investment and Business Operations - The investment income for the period was CNY 178.86 million, indicating the company's active engagement in securities investment[16]. - The self-operated business revenue reached 128,725,832.94 CNY, up 65.54% year-on-year, primarily due to the expansion of bill investments[30]. - The asset management business revenue decreased by 51.51% to 25,980,281.43 CNY, attributed to a decline in asset management scale[31]. - The investment banking business has been transformed to include comprehensive services such as financial advisory, IPOs, and mergers and acquisitions, enhancing its market competitiveness[23]. - The company has established 18 branches and 133 securities business departments, enhancing its market presence in major cities[34]. Risk Management - The company has maintained a robust risk management framework, with net capital and risk control indicators consistently exceeding regulatory standards[24]. - The company has established a comprehensive risk management system to address market, credit, liquidity, operational, compliance, and reputational risks[68]. - The company has implemented a comprehensive operational risk management system, focusing on identifying risks through self-assessment and key risk indicators[72]. - The company utilizes financial derivatives such as index futures and interest rate swaps to hedge against market risks[69]. Regulatory Compliance and Governance - The company has completed rectifications related to regulatory measures imposed by the China Securities Regulatory Commission, allowing it to resume all business activities as of June 30, 2020[89]. - The company has faced administrative regulatory measures due to internal control deficiencies, including a lack of clear responsibilities among internal control departments[88]. - The company has not issued any non-standard audit reports for the current reporting period[84]. - The company has not disclosed any major litigation or arbitration matters that could significantly impact its financial position[84]. Social Responsibility and Community Engagement - The company established a special fund of ¥10 million for donations and procurement of medical supplies in response to the COVID-19 pandemic[96]. - The company donated ¥5 million to the Tibet Charity Association to support COVID-19 prevention and control efforts in Tibet[96]. - The company signed a continuous assistance agreement for poverty alleviation with the Serin District of Naqu City, Tibet, in June 2020[96]. - The company invested ¥600,000 in healthcare resources for impoverished areas as part of its poverty alleviation initiatives[98]. Shareholder and Equity Information - The total number of shares before the change was 2,700,000,000, with 90.00% being restricted shares[100]. - The number of restricted shares decreased by 484,789,089, resulting in 1,945,210,911 restricted shares after the change, which is 72.04% of the total[100]. - The total number of shareholders at the end of the reporting period was 74,726[103]. - Major shareholders have pledged to limit their share reduction to no more than 25% of their total holdings within two years after the lock-up period expires, with a minimum selling price not lower than the issue price[78]. Accounting and Financial Reporting - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the financial status as of June 30, 2020[147]. - The company recognizes financial instruments upon entering into a contract, with specific criteria for derecognition of financial assets[154]. - The company applies the expected credit loss model for impairment of financial assets measured at amortized cost and debt instruments measured at fair value through other comprehensive income[157]. - The company assesses the carrying value of deferred tax assets at each balance sheet date, adjusting if it is unlikely to obtain sufficient taxable profits to utilize the deferred tax assets[188].

Financial Performance - Total revenue for 2018 was ¥1,000,843,794.61, a decrease of 6.22% compared to ¥1,067,185,983.74 in 2017[34]. - Net profit attributable to shareholders was ¥344,672,483.70, down 25.58% from ¥463,150,384.86 in the previous year[34]. - Net profit after deducting non-recurring gains and losses was ¥317,252,741.66, a decline of 25.41% compared to ¥425,354,901.13 in 2017[34]. - Basic earnings per share decreased by 26.32% to ¥0.14 from ¥0.19 in 2017[34]. - Total assets at the end of 2018 were ¥11,870,748,335.54, an 18.19% decrease from ¥14,510,849,143.23 in 2017[34]. - Net cash flow from operating activities improved to ¥63,492,802.19 from a negative cash flow of ¥973,403,724.28 in 2017[34]. - The weighted average return on equity was 8.84%, down from 12.91% in the previous year[34]. - The company achieved operating revenue of 1,000.84 million yuan in 2018, a decrease of 6.22% compared to the previous year[65]. - The net profit attributable to shareholders was 344.67 million yuan, down 25.58% year-on-year[65]. - The company’s total operating profit for 2018 was CNY 360,615,765.17, down 24.84% from CNY 479,796,942.95 in 2017[92]. Capital Structure - The company reported a total registered capital of RMB 2,430,000,000 as of December 31, 2018[12]. - The net capital of the company reached RMB 3,651,982,456.98 by the end of 2018[12]. - The company has a total of 2,700,000,000 shares outstanding as of the report date[5]. - The registered capital of the company increased from RMB 126 million to RMB 208 million in August 2015[22]. - The company was transformed into a joint-stock company in March 2016, with a registered capital of RMB 243 million[22]. - The company proposed a cash dividend of 0.39 yuan per 10 shares, totaling 105,300,000.00 yuan, which represents 30.55% of the net profit attributable to shareholders for 2018, amounting to 344,672,483.70 yuan[148]. Business Operations - The company operates under strict market access regulations and has obtained all necessary licenses for its business activities[17]. - The company has not reported any changes in its main business operations since its listing[16]. - The company engaged in various business activities including brokerage, investment banking, credit, asset management, and proprietary trading[46]. - The company has established a presence in key markets with branches in Beijing, Shanghai, and Jiangsu[24]. - The company has been actively expanding its business scope, including internet securities and private fund custody services[19]. Risk Management - The company acknowledges significant risks associated with market fluctuations, credit risks, operational risks, and liquidity risks due to the cyclical nature of the securities industry[4]. - The company emphasizes compliance and risk management, aiming to become a nationally recognized comprehensive securities firm with distinctive features[53]. - The company has developed a comprehensive risk management system covering market, operational, credit, and liquidity risks[121]. - Risk control indicators such as net capital and liquidity coverage ratio are continuously monitored and reported to regulatory authorities, ensuring compliance with regulatory requirements[116]. Market Expansion and Strategy - The company plans to enhance its market expansion strategy by increasing the number of branches in key cities across China[28]. - The company is focusing on developing new financial products to meet the evolving needs of its clients[28]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service offerings[28]. - The company aims to enhance its presence in Tibet, leveraging capital market tools to support local economic development and provide financial services to small and medium-sized enterprises[54]. Corporate Governance - The board of directors and management have confirmed the accuracy and completeness of the financial report[4]. - The company’s independent directors have fulfilled their responsibilities and played a necessary role in the decision-making process regarding the cash dividend policy[141]. - The company has completed the required compliance rectification work as mandated by the regulatory authorities, including submitting special compliance inspection reports[152]. Social Responsibility - A total of over RMB 5 million was spent on poverty alleviation efforts in 2018, supporting 15 various public welfare projects[160]. - The company has actively engaged in the "One Company, One County" poverty alleviation initiative, establishing partnerships with three national-level poverty-stricken counties in 2018[160]. - The company has contributed a total of RMB 503.83 million (approximately USD 75 million) towards poverty alleviation efforts[172]. - The company has supported ecological poverty alleviation projects, including one project related to green energy construction[160]. Leadership and Shareholding - The controlling shareholder, Lin Li, has been the chairman of the company since March 2016 and is also the chairman of Shenzhen Liyue Group[186]. - The company has maintained a stable leadership team with no recent changes in management positions[192]. - The total number of shareholders at the end of the reporting period was 3, with the largest shareholder, Shenzhen Liyue Group Co., Ltd., holding 71.62% of shares, equating to 1,740,397,076 shares[182].