2024-10-30 10:58Dividend Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares, totaling approximately 1,335,559,593 RMB, which represents 26.63% of the net profit attributable to the parent company for the first half of 2024[16]. - The company has a total share capital of 8,903,730,620 shares as of June 30, 2024, which serves as the basis for the dividend distribution[136]. Financial Performance - The company reported a revenue of CNY 17.07 billion for the first half of 2024, a decrease of 6.89% compared to the same period last year[34]. - The net profit attributable to shareholders was CNY 5.02 billion, down 12.64% year-on-year[34]. - The net profit after deducting non-recurring gains and losses was CNY 4.56 billion, reflecting a 15.78% decline from the previous year[34]. - The total assets at the end of the reporting period were CNY 898.06 billion, a decrease of 2.95% from the end of the previous year[34]. - The total liabilities amounted to CNY 723.25 billion, down 3.83% year-on-year[34]. - The basic earnings per share for the first half of 2024 were CNY 0.52, a decrease of 14.75% compared to the same period last year[35]. - The weighted average return on equity was 3.11%, down 0.64 percentage points from the previous year[35]. - The company's net capital at the end of the reporting period was CNY 91.73 billion, a slight decrease from CNY 92.60 billion at the end of the previous year[36]. Risk Management - The company has established an effective internal control system and dynamic risk control indicators to manage market, credit, liquidity, operational, and reputational risks[19]. - The company is committed to maintaining a risk-aware operational environment through its compliance management system[19]. - The company has established a comprehensive risk management system, maintaining an AA rating from the China Securities Regulatory Commission for 17 consecutive years[51]. - The company emphasizes a robust risk management culture, focusing on compliance risk management as a core strategy to ensure long-term stability[107]. - The company has established a four-tier risk management system, including the board of directors, supervisory board, management team, and risk management departments[108]. - The company has implemented a market risk limit management system, including business scale, loss limits, and risk value (VaR) metrics[115]. - The company has revised its risk management policies in accordance with the latest regulatory requirements, including operational risk management guidelines[112]. Business Segments - The company operates a diversified business model including wealth management, investment banking, and international business, focusing on client-driven services[42]. - Wealth management revenue decreased by 10.05% to 4.698 billion yuan, contributing 27.52% to total revenue[44]. - Investment banking revenue fell by 27.84% to 1.062 billion yuan, accounting for 6.22% of total revenue[44]. - Institutional and trading revenue decreased by 5.86% to 7.150 billion yuan, contributing 41.89% to total revenue[44]. - International business revenue increased by 45.56% to 1.396 billion yuan, representing 8.18% of total revenue[44]. Corporate Governance - The company continues to adhere to corporate governance codes and has confirmed compliance by all directors and senior management during the reporting period[139]. - The company has implemented a stricter management approach for securities trading by directors and senior management, ensuring compliance with regulatory standards[139]. - The company is in the process of nominating two new board candidates, Wang Tao and Chen Yijiang, pending shareholder approval[135]. - The company has seen changes in its executive team, with several key personnel resigning or being appointed throughout 2024[134]. Employee and Training - As of June 30, 2024, the company has a total of 14,762 employees, with 11,702 in the parent company[140]. - The average training hours per employee during the reporting period was 39 hours, focusing on international and digital talent development[140]. Investor Relations - The company plans to enhance investor returns through regular dividends and improved investor relations management[141]. - The company has established a comprehensive investor relations management platform, including various communication channels[141]. - The company has actively participated in multiple investor events, enhancing transparency and communication with investors[141]. Environmental and Social Responsibility - The company has participated in carbon trading with a cumulative transaction volume of 80.4987 million tons as of June 2024, with 4.8238 million tons transacted in the first half of 2024[148]. - The company has invested 19.1064 million yuan in poverty alleviation and rural revitalization projects, benefiting 70,000 people[157]. - The company has implemented energy-saving measures, resulting in a total energy consumption of 7,213.92 tons of standard coal in Shanghai for the first half of 2024[151]. Regulatory Compliance - The company has received a warning letter from the China Securities Regulatory Commission for failing to supervise the issuer's timely disclosure of information[166]. - The company’s Jinan Victory Street Securities Office was also issued a warning letter for providing clients with answers to risk assessment questions[167]. - The company has enhanced its internal training and responsibility measures following regulatory warnings to improve compliance and risk management[166].