Core Viewpoint - The nuclear power industry in China is expected to experience significant growth, with a strong investment rating maintained by Zhongyuan Securities, highlighting the importance of nuclear power in future energy supply [1][3] Group 1: Project Approvals - On April 27, 2025, the State Council approved five nuclear power projects, totaling ten nuclear units, with China General Nuclear Power Group (CGN) and China National Nuclear Power (CNNP) being the primary beneficiaries [1] - CGN received approval for four units, including two units in Guangdong and two in Guangxi, all utilizing Hualong One technology, with capacities of 1.2 million kW and 1.208 million kW respectively [1] - CNNP was approved for two units in the Zhejiang Sanmen project, also using Hualong One technology, with a capacity of 1.215 million kW each [2] Group 2: Industry Growth and Capacity - Nuclear power is recognized as a stable energy source in China's new power system, with a utilization hour rate of 7,805.74 hours in 2024, contributing 4.73% to the national power generation [3] - The "14th Five-Year Plan" aims for a nuclear power installed capacity of approximately 70 million kW by 2025, with a focus on coastal projects [3] - As of April 27, 2025, China has approved 28 new nuclear projects since 2022, with a total of 102 operational, under construction, and approved units, making it the world's largest nuclear power capacity at 113 million kW [3] Group 3: Regional Developments - Currently, there are no nuclear projects approved or under construction in Henan Province, which is not included in the national nuclear construction plan due to cautious evaluation policies for inland nuclear development [4]

Financial Performance - The company reported a net capital of RMB 9,468,635,644.80 at the end of the reporting period, an increase of 9.3% from RMB 8,651,125,530.23 at the end of the previous year[20]. - The company's operating revenue for 2024 was CNY 1,689,925,164.42, a decrease of 14.13% compared to CNY 1,968,016,572.87 in 2023[47]. - Net profit attributable to shareholders for 2024 increased by 16.18% to CNY 245,847,400.51 from CNY 211,601,553.51 in 2023[47]. - The total assets at the end of 2024 were CNY 51,614,348,080.07, a slight decrease of 0.17% from CNY 51,701,683,772.46 in 2023[47]. - The company's net capital increased to CNY 9,468,635,644.80 at the end of the reporting period, up from CNY 8,651,125,530.23 at the end of the previous year[49]. - Basic earnings per share for 2024 were CNY 0.0530, reflecting a 16.23% increase from CNY 0.0456 in 2023[48]. - The total equity attributable to shareholders increased to CNY 14,060,235,023.57 at the end of 2024, up 1.13% from CNY 13,902,762,596.08 in 2023[47]. - The company's cash and cash equivalents increased by 44.34% year-over-year, reaching CNY 14,400,984,039.97[57]. - The company's total operating revenue decreased by 14.13% to RMB 1.69 billion, with securities brokerage business revenue increasing by RMB 163 million to RMB 815 million[123]. Risk Management - The company emphasizes that its business performance is highly correlated with domestic and international economic conditions and capital market status, which may impact its operating results[9]. - The company has established a comprehensive risk management system to ensure operations are conducted within manageable risk levels[11]. - The company plans to maintain its focus on risk management and compliance to mitigate potential operational risks[11]. - The company has tightened credit risk management by refining access management for stock pledge financing and credit bond investment standards[167]. - The company has established a multi-level risk control indicator monitoring and evaluation system to manage market risks effectively[169]. - The company has improved its risk identification and monitoring mechanisms for investment strategies[170]. - The company has established a three-tier decision-making system to enhance credit risk management[167]. Business Operations and Strategy - The company has established a strong presence in the financial services sector, with qualifications for various trading and brokerage activities, enhancing its market competitiveness[21][24][25]. - The company aims to enhance its service capabilities for small and medium-sized enterprises and high-tech companies in Henan Province, focusing on direct financing and reducing financing costs[69]. - The company plans to expand its asset management business by advancing into ETF and public fund sectors while maintaining a solid "fixed income+" foundation[74]. - The company is focused on optimizing the performance of existing business departments to drive revenue growth[43]. - The company is actively pursuing a strategic transformation to become a leading modern investment bank in the region[62]. - The company aims to enhance its internal management capabilities and streamline operations to improve overall efficiency and effectiveness[162]. Corporate Governance - The company is committed to enhancing its corporate governance and has complied with all provisions of the Corporate Governance Code[187]. - The company has a clear plan for future governance improvements and compliance with regulatory requirements[187]. - The company maintains independence from its controlling shareholder, with no interference in decision-making or operations during the reporting period[188]. - The company has established a performance assessment and incentive system for senior management, including a performance assessment implementation plan for 2023[187]. - The total pre-tax remuneration for the chairman was RMB 554,500, while independent directors received RMB 250,000 each[192]. Market Expansion and Client Engagement - The company is exploring potential acquisitions to further strengthen its market position, with a budget of $100 million allocated for this purpose[197]. - Market expansion efforts have led to a 20% increase in market share in the Asia-Pacific region[197]. - The company is actively working to strengthen its presence in both A-share and Hong Kong capital markets, enhancing service offerings for clients[114]. - The company aims to optimize its asset allocation structure and expand its bond sales business in 2025[84]. - The company is focusing on the strategic development of the Henan capital market, leveraging its position as a key financial entity in the region[111]. Financial Products and Services - The company has a diverse range of subsidiaries with qualifications in futures brokerage, private equity investment, and securities trading, indicating a broad service offering[26]. - The company achieved a 4.6% year-on-year growth in market share for equity funds[63]. - The company's wealth management business revenue surged by 354%, with financial product sales exceeding CNY 10 billion[63]. - The company plans to implement four strategic initiatives: professionalization, integration, platformization, and base construction, to drive development[158]. - The company is committed to building a diversified financial product and service system to better serve various market participants[155]. Technology and Innovation - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[197]. - The company is focusing on enhancing its investment banking capabilities and wealth management skills in response to regulatory changes in the industry[154]. - The company will leverage technology, such as artificial intelligence and big data, to enhance business development and operational efficiency[159]. Operational Efficiency - The company has reduced operational costs by 5%, resulting in improved profit margins[197]. - The company reported a significant increase in other operating income, which rose by 485.53% to RMB 367 million, primarily from the disposal of debt assets[119]. - The company is committed to improving its asset management quality by developing a "fixed income plus" product layout to meet client needs[164].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.17 per 10 shares, totaling RMB 78,929,039.90 based on a total share capital of 4,642,884,700 shares as of December 31, 2024[8]. - For the fiscal year 2024, the total cash dividend per 10 shares will amount to RMB 0.23[8]. - The company does not plan to increase capital through capital reserves or issue bonus shares[8]. Financial Performance - The company's operating revenue for 2024 was CNY 1,689,925,164.42, a decrease of 14.13% compared to CNY 1,968,016,572.87 in 2023[68]. - Net profit attributable to shareholders of the parent company increased by 16.18% to CNY 245,847,400.51 in 2024 from CNY 211,601,553.51 in 2023[68]. - The net cash flow from operating activities for 2024 was CNY 4,168,168,660.39, a significant improvement from a negative cash flow of CNY -467,298,168.05 in 2023[68]. - Total assets at the end of 2024 were CNY 51,614,348,080.07, a slight decrease of 0.17% from CNY 51,701,683,772.46 in 2023[68]. - Total liabilities decreased by 0.58% to CNY 37,331,529,726.77 in 2024 from CNY 37,551,184,086.55 in 2023[68]. - The equity attributable to shareholders of the parent company increased by 1.13% to CNY 14,060,235,023.57 in 2024[68]. - Basic earnings per share for 2024 were CNY 0.0530, reflecting a 16.23% increase from CNY 0.0456 in 2023[69]. - The weighted average return on equity for 2024 was 1.76%, an increase of 0.23 percentage points from 1.53% in 2023[69]. Risk Management - The company emphasizes that its business performance is highly correlated with domestic and international economic conditions and capital market fluctuations, which may directly or indirectly impact its operating results[13]. - The company has established a comprehensive risk management system to ensure operations are conducted within measurable, controllable, and bearable risk limits[15]. - The company faces various risks, including market risk due to price fluctuations and compliance risk from potential legal liabilities[14]. Audit and Compliance - The company has received a standard unqualified audit report from the auditing firm Xin Yong Zhong He[8]. - There were no instances of non-operational fund occupation by controlling shareholders or related parties during the reporting period[9]. - The company has not violated regulatory decision-making procedures in providing guarantees during the reporting period[10]. Business Operations and Expansion - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management, which are crucial for its operational capabilities[26][27]. - The company has been approved for multiple trading qualifications, including IPO inquiry and placement, stock pledge repurchase, and various trading qualifications on the Shanghai and Shenzhen stock exchanges[29]. - The company has a total of 30 branches across various locations[48]. - The company operates a total of 74 securities business departments across 9 provinces, autonomous regions, and municipalities in China[54]. - Among the 74 business departments, 64 are located in Henan Province, indicating a strong regional presence[54]. - The company continues to expand its network with new branches, such as the recent establishment in Chengdu, Sichuan Province[51]. - The company is focused on increasing its market share in the securities industry through strategic expansions and new product offerings[54]. Technological Development - The company aims to enhance its technological capabilities to improve service delivery and customer experience[54]. - The company is investing heavily in R&D, with a budget increase of 30% to enhance technology development and innovation[59]. - The company has implemented a series of cost-reduction measures, significantly improving operational efficiency[106]. Customer Engagement and Market Outlook - The company reported a significant increase in user data, reflecting a growing customer base and engagement[54]. - User data showed a growth in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[56]. - The company provided an optimistic outlook for Q4 2023, projecting revenue to exceed 1.8 billion, indicating a potential growth of 25%[57]. - New product launches are expected to contribute an additional 300 million in revenue by the end of the fiscal year[58]. - Customer satisfaction ratings improved to 90%, reflecting a 10% increase from the previous year, indicating strong user engagement[58]. Investment and Fund Management - The company reported a net loss from investment income of RMB 512.35 million, a decline of 41.32% year-on-year[89]. - The company's long-term equity investments decreased by 37.27% to RMB 905.25 million[87]. - The company recovered RMB 2.12 billion in funds from project exits in 2024[121]. - The company aims to enhance post-investment management and support for enterprises through capital market opportunities in 2025[126]. Market Trends and Future Strategies - The company aims to enhance product innovation and expand distribution channels in 2025, focusing on a diverse range of wealth management products[118]. - The company plans to strengthen its integrated service model and explore new products in mergers and acquisitions in 2025[122]. - The company is committed to optimizing its operational model and enhancing its comprehensive financial service ecosystem to support long-term development[110]. - The company is actively promoting digital transformation in wealth management through online trading platforms and mobile apps[99]. Awards and Recognition - The company received multiple awards for its digital service capabilities, including the "Best Channel Cooperation Award" and the "Digital Pioneer APP Award" in 2024[108].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.17 per 10 shares, totaling RMB 78,929,039.90 based on a total share capital of 4,642,884,700 shares[5]. - For the fiscal year 2024, the total cash dividend per 10 shares is RMB 0.23, inclusive of tax[5]. - The company does not plan to increase capital reserves or issue bonus shares in the current dividend proposal[5]. Financial Reporting and Audit - The company has received a standard unqualified audit opinion from the auditing firm, indicating the financial report's accuracy and completeness[5]. - The financial report is prepared in accordance with Chinese accounting standards and has been reviewed by the audit committee[5]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties during the reporting period[6]. Risk Management - The company faces significant risks related to domestic and international economic conditions, capital market fluctuations, and regulatory policy adjustments[10]. - The company has established a comprehensive risk management system to ensure operations are conducted within manageable risk levels[12]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors[5]. Business Qualifications and Market Position - The company holds various business qualifications, including securities brokerage, investment consulting, and asset management, which are crucial for its operational capabilities[27]. - The company has been approved for multiple business qualifications by the China Securities Regulatory Commission, including IPO underwriting and securities asset management, enhancing its market position[28]. - The company aims to leverage its diverse business qualifications to capture more market share in the competitive financial services sector[28]. Operational Expansion - The company is actively involved in market expansion and has established a presence in both domestic and international markets, which is expected to drive future growth[30]. - The company continues to expand its operations, with new branches established in cities like Chengdu and Nanjing in recent years[52]. - The company operates a total of 74 branches across 9 provinces, autonomous regions, and municipalities in China, with 64 branches located in Henan province[54]. Financial Performance - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[55]. - The company's operating revenue for 2024 was CNY 1,689,925,164.42, a decrease of 14.13% compared to CNY 1,968,016,572.87 in 2023[68]. - Net profit attributable to shareholders of the parent company increased by 16.18% to CNY 245,847,400.51 in 2024 from CNY 211,601,553.51 in 2023[68]. Customer Engagement and Satisfaction - User data showed an increase in active users, reaching 5 million, which is a 15% increase compared to the previous quarter[56]. - Customer satisfaction ratings improved to 85%, reflecting a 5% increase from the last quarter[58]. - The company has reported a steady growth in user data, reflecting an increase in customer engagement and satisfaction[54]. Investment and Research - The company is investing in new technology development, allocating $50 million towards R&D initiatives[59]. - The company is committed to ongoing research and development of new financial products and technologies[54]. - The company plans to strengthen its investment research team while balancing product innovation and risk control[118]. Financial Stability and Liquidity - The liquidity coverage ratio increased to 286.47% from 198.96% year-over-year, demonstrating enhanced liquidity management[72]. - The debt-to-asset ratio improved to 59.35% in 2024 from 64.77% in 2023, indicating better financial stability[77]. - The net cash flow from operating activities improved significantly to CNY 4,168,168,660.39 in 2024, compared to a negative CNY 467,298,168.05 in 2023[68]. Strategic Initiatives - The company is actively pursuing strategic partnerships and potential acquisitions to bolster its market position[54]. - The company aims to enhance its service capabilities for small and medium-sized enterprises and high-tech companies in Henan, targeting a reduction in financing costs[114]. - The company is focusing on strategic transformation and risk mitigation to achieve steady growth in operating performance[103]. Market Trends and Outlook - The company is optimistic about future growth prospects, driven by its expansion strategy and market demand[54]. - The overall operating environment for the securities industry is expected to improve significantly in the fourth quarter of 2024, with a likely stabilization and recovery in annual performance compared to the first three quarters[149]. - The central government has emphasized the importance of boosting the capital market and stabilizing the stock market as part of its macroeconomic policy for 2025[148].

证券代码： 601375 证券简称： 中原证券 公告编号：2024-059 中原证券股份有限公司 关于签署日常关联/持续关连交易框架协议 及设定年度交易上限的公告 中原证券股份有限公司（以下简称"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 确性和完整性承担个别及连带责任。 重要内容提示： 本次日常关联/持续关连交易事项无需提交股东大会审议。 本次日常关联/持续关连交易不会构成公司业务对关联/连人的依赖， 不影响公司的独立性，没有损害公司和公司全体股东的整体利益。 本次日常关联/持续关连交易协议尚未签署，存在不确定性。 一、 日常关联/持续关连交易基本情况 （一）日常关联/持续关连交易的审议程序 2024 年 12 月 23 日，公司第七届董事会第三十二次会议审议通过了《关于 签署日常关联/持续关连交易框架协议及设定年度交易上限的议案》，同意公司 与河南投资集团有限公司（以下简称"投资集团"）、中原股权交易中心股份有 限公司（以下简称"股权中心"）分别续签《证券和金融服务框架协议》《证券 和金融产品交易及服务框架协议》并设定 2025 年至 202 ...

Financial Performance - Operating revenue for Q3 2024 was RMB 93,701,464.79, a decrease of 78.28% compared to the same period last year[5] - Net profit attributable to shareholders of the listed company for Q3 2024 was a loss of RMB 38,095,532.80, down 193.97% year-on-year[5] - The net profit after deducting non-recurring gains and losses was a loss of RMB 54,443,386.76, a decrease of 241.05% compared to the previous year[5] - Basic earnings per share for the reporting period decreased by 194.25%, attributed to the decrease in operating revenue leading to a reduction in net profit attributable to shareholders[9] - Diluted earnings per share for the reporting period also decreased by 194.25%, reflecting the same reasons as basic earnings per share[9] - The weighted average return on equity decreased by 0.56 percentage points, primarily due to the decline in operating revenue[9] - Total operating revenue for the first three quarters of 2024 was RMB 1,292,372,031.84, a decrease of 12.5% compared to RMB 1,477,099,253.79 in the same period of 2023[22] - Net profit for the first three quarters of 2024 was RMB 141,298,246.47, down 30% from RMB 201,831,266.45 in 2023[23] - The company reported a total comprehensive income of RMB 142,333,648.83, down from RMB 209,727,345.80, a decrease of 32%[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 51,671,270,746.01, a slight decrease of 0.06% from the end of the previous year[5] - The total liabilities decreased slightly to ¥37,469,499,524.37 from ¥37,551,184,086.55, a reduction of approximately 0.22%[21] - The company's total equity, including minority interests, was reported at ¥14,201,771,221.64, compared to ¥14,150,499,685.91, showing a slight increase of about 0.36%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 123,202, with 123,166 being A-share holders[11] - The largest shareholder, Hong Kong Central Clearing Limited, holds 1,195,156,550 shares, representing 25.74% of the total shares[11] - Henan Investment Group Co., Ltd. is the second-largest shareholder, holding 822,983,847 shares, which is 17.73% of the total shares[11] - The company is unaware of any related party relationships or concerted actions among the top shareholders[14] Cash Flow and Investments - Cash flow from operating activities generated a net cash inflow of RMB 5,219,709,646.41, a significant recovery from a net outflow of RMB 1,191,543,618.38 in the previous year[25] - Cash inflow from investment activities for the first three quarters of 2024 was $259.36 million, a decrease of 83.83% compared to $1.60 billion in the same period of 2023[26] - Net cash flow from investment activities for the first three quarters of 2024 was $182.32 million, down 87.58% from $1.47 billion in 2023[26] - Cash inflow from financing activities for the first three quarters of 2024 was $6.00 billion, a decrease of 22.14% compared to $7.72 billion in 2023[26] - The net increase in cash and cash equivalents for the first three quarters of 2024 was $6.80 billion, contrasting with a decrease of $641.44 million in 2023[26] - The ending balance of cash and cash equivalents as of September 2024 was $20.19 billion, an increase from $12.66 billion in the same period of 2023[26] Operational Metrics - The risk coverage ratio improved to 302.58%, up from 248.71% at the end of the previous year[6] - The liquidity coverage ratio increased to 269.94%, compared to 198.96% at the end of the previous year[6] - Non-recurring gains and losses totaled RMB 16,347,853.96 for the current period, with government subsidies contributing significantly[7] - The company plans to focus on enhancing its investment banking and asset management services to drive future growth[22]

Financial Performance - Operating revenue for Q3 2024 was CNY 93,701,464.79, a decrease of 78.28% compared to the same period last year[2] - Net profit attributable to shareholders was a loss of CNY 38,095,532.80, representing a decline of 193.97% year-on-year[2] - Net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 54,443,386.76, down 241.05% from the previous year[2] - Basic and diluted earnings per share were both CNY -0.0082, a decrease of 194.25% compared to the same period last year[2] - The company experienced a significant decrease in operating income primarily due to reduced investment income and fair value changes[7] - Total operating revenue for the first three quarters of 2024 was CNY 1,292,372,031.84, a decrease of 12.5% compared to CNY 1,477,099,253.79 in the same period of 2023[15] - Operating profit for the first three quarters of 2024 was CNY 130,631,054.15, compared to CNY 205,327,868.52 in 2023, representing a decline of 36.4%[15] - The total profit for the third quarter of 2024 was approximately CNY 143.47 million, a decrease from CNY 206.46 million in the same period of 2023, representing a decline of about 30.5%[16] - The net profit attributable to shareholders of the parent company was CNY 163.17 million, down from CNY 207.82 million year-on-year, reflecting a decrease of approximately 21.5%[16] - The comprehensive income attributable to shareholders of the parent company totaled CNY 164.20 million, compared to CNY 215.72 million in the previous year, indicating a decline of around 23.8%[16] Assets and Liabilities - Total assets at the end of the reporting period were CNY 51,671,270,746.01, a slight decrease of 0.06% from the end of the previous year[3] - Total assets as of the end of Q3 2024 were CNY 51,671,270,746.01, slightly down from CNY 51,701,683,772.46 at the end of 2023[14] - Total liabilities decreased to CNY 37,469,499,524.37 from CNY 37,551,184,086.55, a reduction of 0.2%[14] - Shareholders' equity increased to CNY 14,201,771,221.64 from CNY 14,150,499,685.91, reflecting a growth of 0.4%[14] Cash Flow - The net cash flow from operating activities was CNY 5.22 billion, a significant improvement compared to a net outflow of CNY 1.19 billion in the same period last year[17] - The total cash and cash equivalents at the end of the period reached CNY 20.19 billion, an increase from CNY 12.66 billion at the end of the third quarter of 2023, representing a growth of approximately 59.3%[18] - The cash inflow from financing activities was CNY 6.00 billion, while the cash outflow was CNY 4.60 billion, resulting in a net cash flow of CNY 1.40 billion from financing activities[17] - The company received CNY 1.43 billion in interest, fees, and commissions during the quarter, slightly up from CNY 1.43 billion in the same period last year[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 123,202, with the largest shareholder holding 25.74% of the shares[8] - As of September 30, 2024, Henan Investment Group Co., Ltd. holds a total of 1,023,556,847 shares, representing 22.05% of the company's total issued shares[11] - The top 10 shareholders include Anshan Iron and Steel Group Co., Ltd. with 177,514,015 shares (3.82%) and Jiangsu Suhao Holding Group Co., Ltd. with 149,864,507 shares (3.23%) as of September 30, 2024[10] - The total number of shares held by the top 10 unrestricted shareholders amounts to 1,195,156,550 shares, with Hong Kong Central Clearing Limited being the largest holder[10] - The company has not reported any significant changes in the shareholding structure of the top 10 shareholders compared to the previous period[12] - The report indicates that there are no changes in the lending and borrowing of shares among the top shareholders compared to the previous period[11] Non-Recurring Gains and Other Information - The company reported non-recurring gains of CNY 5,986,499.61 from government subsidies during the reporting period[5] - The company reported a net decrease in trading financial instruments amounting to CNY 6.03 billion during the quarter[17] - The financial statements as of September 30, 2024, are unaudited, indicating that the company is still in the process of finalizing its financial results for the quarter[12] - The report does not indicate any new strategies or market expansions during the quarter[12] - There are no significant reminders or additional important information regarding the company's operational performance during the reporting period[12] - The company has not disclosed any new product or technology developments in the current report[12] Investment Income - Net interest income increased to CNY 122,982,456.75 from CNY 106,943,845.02, reflecting a growth of 15.5% year-over-year[15] - Investment income rose to CNY 899,787,556.26, up from CNY 754,765,091.74, marking an increase of 19.2% year-over-year[15] Market Presence and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge in the financial services sector[19]

会议内容：中原证券股份有限公司 2024 年半年度业绩说明会 会议召开时间：2024 年 10 月 08 日(星期二)下午 14:00-15:00 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 证券代码：601375 证券简称：中原证券 公告编号：2024-038 中原证券股份有限公司 关于召开 2024 年半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： 参加本次业绩说明会的人员包括公司总经理、执行委员会主任委员李昭欣先 生，执行委员会委员、财务总监、董事会秘书郭良勇先生和独立董事张东明女士 等公司领导及相关部门工作人员。 四、投资者参加方式 欢迎有意向参加本次说明会的投资者于 2024 年 09 月 24 日(星期二)至 09 月 30 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 目或通过公司投资者关系邮箱：investor@ccn ...

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling RMB 27,857,308.20 based on a total share capital of 4,642,884,700 shares as of June 30, 2024[4] - The cash dividend per 10 shares is CNY 0.06, with no stock bonus or capital increase planned[125] - The total cash dividend amount represents 13.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[125] Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,198,670,567.05, representing a 14.62% increase compared to ¥1,045,764,808.74 in the same period last year[40] - Net profit attributable to shareholders of the parent company was ¥201,265,120.05, up 20.31% from ¥167,282,207.98 year-on-year[40] - The net cash flow from operating activities was ¥856,846,780.21, a significant recovery from a negative cash flow of -¥564,121,298.87 in the previous year[40] - Total assets increased by 2.90% to ¥53,198,797,130.31 from ¥51,701,683,772.46 at the end of the previous year[41] - Total liabilities rose by 3.66% to ¥38,923,940,463.36 compared to ¥37,551,184,086.55 at the end of the previous year[41] - The weighted average return on net assets increased to 1.44%, up from 1.21% in the previous year, reflecting improved profitability[42] - The company's net capital at the end of the reporting period was ¥9,796,971,098.20, an increase from ¥8,651,125,530.23 at the end of the previous year[44] - The risk coverage ratio improved to 326.23%, up from 248.71% in the previous year, indicating stronger risk management[44] Market Conditions - The A-share market indices showed a decline as of June 28, 2024, with the Shanghai Composite Index down by 0.25%, Shenzhen Component Index down by 7.10%, and ChiNext down by 10.99% compared to the beginning of the year[46] - The total trading volume of stock funds in the first half of 2024 was RMB 230.34 trillion, a year-on-year decrease of 7.62%[46] - The scale of equity financing in the first half of 2024 was RMB 173 billion, a significant year-on-year decline of 61.82%, with IPOs raising RMB 32.49 billion, down 74.57%[46] Business Expansion and Strategy - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[5] - The company has been approved for multiple qualifications by the China Securities Regulatory Commission, including IPO underwriting and financial advisory for mergers and acquisitions[29] - Central China Securities has expanded its business scope to include futures brokerage and private equity investment through its subsidiaries[33] - The company is actively involved in the interbank bond market and has qualifications for various financial product sales, indicating a diversified revenue stream[32] - The company has a strong focus on expanding its market presence and enhancing its service offerings through strategic qualifications and partnerships[31] - Central China Securities aims to leverage its diverse qualifications to capture growth opportunities in the evolving financial landscape[30] Risk Management - The company maintains a robust risk management strategy, balancing capital, risk, and returns to provide stable profit returns to shareholders[105] - The risk management framework consists of four layers, including the board of directors, risk control committees, and various management departments[106] - The company has established a comprehensive risk management information system covering all risk types and departments, enhancing risk identification and monitoring[108] - Key risks identified include credit risk, market risk, liquidity risk, and operational risk, with specific measures in place to manage each[109] - Credit risk management focuses on entry management, credit limits, due diligence, and ongoing monitoring of significant investments[110] - Market risk management includes strict investment authorization, risk limit monitoring, and the use of quantitative models for risk assessment[111] Legal and Compliance Issues - The company is involved in several ongoing legal disputes, with estimated liabilities including CNY 20 million related to Shenwu Technology Group and CNY 43,165.83 related to Kewen Food Group[130] - The company has faced regulatory scrutiny from the Henan Securities Regulatory Bureau regarding compliance issues and has been mandated to implement corrective measures[135] - The company has completed relevant rectification work and submitted a report to the Henan Securities Regulatory Bureau[136] Employee and Corporate Governance - As of the end of the reporting period, the group employed 2,627 people, with 2,304 in the company and 323 in subsidiaries[119] - The company has implemented a performance evaluation mechanism to motivate employees, with compensation including base salary, allowances, performance bonuses, and benefits[119] - The company has adhered to the Corporate Governance Code and has implemented measures to enhance corporate governance practices[143] Asset Management and Investment - The company is focusing on enhancing its asset management and investment banking services to drive future growth[198] - The company plans to enhance professional capabilities and expand the asset management product line to meet diverse client needs, focusing on fixed income products[62] - The company aims to recover RMB 22.0854 million from risk projects in the first half of 2024[65] Financial Instruments and Debt Management - The company has established a repayment working group to ensure timely payments to bondholders[166] - The total amount raised from the bond issuance was RMB 7.00 billion, with no remaining balance at the end of the reporting period[168] - The company has maintained strict compliance with legal regulations and has engaged multiple securities firms as trustees to protect bondholders' interests[167]

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,198,670,567.05, representing a 14.62% increase compared to ¥1,045,764,808.74 in the same period last year[31]. - Net profit attributable to shareholders of the parent company was ¥201,265,120.05, up 20.31% from ¥167,282,207.98 year-on-year[31]. - The net profit after deducting non-recurring gains and losses was ¥197,291,564.12, reflecting a 26.44% increase from ¥156,041,312.09 in the previous year[31]. - The total assets at the end of the reporting period amounted to ¥53,198,797,130.31, a 2.90% increase from ¥51,701,683,772.46 at the end of the previous year[32]. - The total liabilities increased by 3.66% to ¥38,923,940,463.36 from ¥37,551,184,086.55 year-on-year[32]. - The weighted average return on net assets rose to 1.44%, an increase of 0.23 percentage points compared to 1.21% in the previous year[33]. - The company's total comprehensive income attributable to the parent company for the first half of 2024 was RMB 208,225,465.23, an increase from RMB 181,166,706.89 in the same period of 2023, representing a growth of approximately 14.9%[179]. - The net profit for the first half of 2024 was RMB 179,401,440.76, up from RMB 163,729,512.49 in the first half of 2023, representing a growth of 9.9%[178]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling approximately RMB 27,857,308.20 (including tax) based on a total share capital of 4,642,884,700 shares as of June 30, 2024[3]. - The company plans to distribute a cash dividend of 0.06 CNY per 10 shares, totaling 27,857,308.20 CNY, which represents 13.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[116]. Risk Management - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[4]. - Major risks faced by the company include credit risk, market risk, liquidity risk, reputation risk, operational risk, compliance risk, and information technology risk[101]. - The company maintains a robust risk management strategy, focusing on balancing capital, risk, and returns to provide stable profit returns to shareholders[97]. - A four-tier risk management structure is established, including the board of directors, risk control committees, risk management headquarters, and frontline risk control systems[98]. - The company has developed a comprehensive risk management information system covering various risk types and departments, facilitating risk identification, measurement, assessment, monitoring, and reporting[100]. Market Conditions - As of June 28, 2024, major A-share market indices showed declines: Shanghai Composite Index -0.25%, Shenzhen Component Index -7.10%, ChiNext Index -10.99%, and STAR Market -16.42%[37]. - In the first half of 2024, the total trading volume of stock funds in the two markets was RMB 230.34 trillion, a year-on-year decrease of 7.62%[37]. - The scale of equity financing in the industry was RMB 173 billion, down 61.82% year-on-year, with IPOs totaling 44 and raising RMB 32.49 billion, declines of 74.57% and 84.50% respectively[37]. Client and Revenue Growth - In the first half of 2024, the total number of clients in the securities brokerage business reached 3.055 million, an increase of 2.20% year-on-year[45]. - The company's public fund sales amounted to RMB 2.491 billion, representing an increase of 85.00% compared to the same period last year[45]. - The company aims to enhance its wealth management services by integrating online and offline operations, focusing on customer satisfaction and personalized services[45]. - The company achieved a cumulative underwriting/distribution amount of RMB 7.491 billion from 130 bond projects[49]. Compliance and Governance - The board of directors guarantees the truthfulness, accuracy, and completeness of the semi-annual report, with no false records or misleading statements[3]. - The company has been subject to regulatory scrutiny by the Henan Securities Regulatory Bureau for various compliance issues, including improper management of subsidiary investments and risk assessments[124]. - The company has maintained compliance with the Corporate Governance Code and has adopted relevant standards for directors and supervisors during the reporting period[132][133]. Operational Efficiency - The company is committed to optimizing its cost structure and enhancing operational efficiency as part of its strategic initiatives[56]. - The company plans to enhance its professional service capabilities by expanding its stock custody business and enhancing customer resources in the brokerage business[73]. - The company is focusing on compliance culture building and has conducted extensive compliance training for employees[108]. Future Strategies - The company plans to enhance its investment banking capabilities and expand project reserves, particularly around the "7+28+N" industrial chain in Henan[39]. - The company aims to support local enterprises in utilizing overseas capital markets for development, enhancing its strategic role in the Henan capital market[41]. - The company plans to enhance its influence in the Hong Kong capital market by actively expanding various financial advisory and placement projects in the second half of 2024[73]. - The company aims to leverage new technologies in its financial services to improve operational efficiency and customer experience[195].