2024-08-30 11:29Financial Performance - Total revenue for the reporting period was ¥11,778,118,635.19, a decrease of 11.02% compared to the same period last year [22]. - Net profit attributable to shareholders was ¥4,362,371,717.16, down 3.88% year-on-year [22]. - Net profit excluding non-recurring gains and losses increased by 8.25% to ¥4,367,352,588.63 [22]. - Other comprehensive income surged by 113.72% to ¥1,511,200,273.75 [22]. - The net cash flow from operating activities was negative at -¥33,573,962,859.97, compared to positive cash flow of ¥7,875,651,466.63 in the previous year [22]. - Total assets increased by 1.05% to ¥689,327,990,130.48 compared to the end of the previous year [22]. - Total liabilities rose by 0.40% to ¥543,677,492,942.36 [22]. - The company's net assets attributable to shareholders increased by 3.67% to ¥140,702,952,766.47 [22]. - The company's total operating profit decreased by 14.13% to CNY 5,130,040,928.99 from CNY 5,973,993,090.45 year-on-year [110]. - The total revenue from wealth management decreased by 3.53 percentage points, with a total income of CNY 5.22 billion [102]. Risk Management - The company emphasizes the importance of risk management, including compliance, liquidity, market, credit, operational, information technology, and reputational risks [4]. - The company has established a comprehensive risk management system to ensure stable operations within controllable risk limits [4]. - The risk coverage ratio improved to 250.09%, an increase of 16.73 percentage points [31]. - The company faces liquidity risk due to factors such as asset-liability mismatch and operational losses, necessitating effective liquidity management strategies [138]. - Market risk is primarily concentrated in equity price risk and interest rate risk, exacerbated by the company's expanding international operations and market volatility [139]. - Credit risk has increased due to higher default rates and complex financial products, particularly in bond trading and financing activities [140]. - The company has established a comprehensive risk management system to address various risk types across all business lines and subsidiaries [145]. - Liquidity risk management includes strategies for daily liquidity management and multi-tiered liquidity reserves to ensure sufficient funding under normal and stressed conditions [146]. - Market risk management involves setting risk limits and employing advanced risk measurement models to monitor potential losses in investment activities [147]. - The company implements comprehensive credit risk management through effective risk identification, prudent assessment, and dynamic monitoring to maximize risk-adjusted returns within acceptable limits [149]. Corporate Governance - The company has implemented a governance structure that ensures compliance with the Corporate Governance Code, with a board comprising 11 members, including 4 independent non-executive directors [171]. - The company is focused on maintaining compliance with both domestic and international governance standards, ensuring no significant discrepancies exist [170]. - The company has a clear separation of roles between the chairman and the CEO to ensure balanced power and responsibilities within the board [171]. - The company is committed to continuous improvement in corporate governance and internal management systems [170]. - The company has adopted the Standard Code and Corporate Governance Code to regulate the trading of its listed securities [171]. - The company reported a net profit attributable to shareholders of the parent company of CNY 4,362,371,717.16 for the first half of 2024, with a total net profit of CNY 4,628,800,375.60 [180]. Shareholder Returns - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on the number of shares after deducting 15,242,153 shares held in the company's repurchase account [5]. - The cash dividend distribution plan was approved by the shareholders' meeting and will be implemented within two months [181]. - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, amounting to a total cash dividend of CNY 760,584,551.10, which represents 17.44% of the net profit for the first half of 2024 [179]. - As of June 30, 2024, the company's undistributed profits amounted to CNY 31,134,229,822.98 [180]. Business Operations - The company operates four main business segments: Investment Banking, Wealth Management, Trading and Institutional Business, and Investment Management [39]. - The company has established a full-service investment banking system that caters to client needs throughout the investment lifecycle [48]. - The company completed 105 equity financing projects in the A-share market, with a total financing amount of CNY 99.315 billion, representing a year-on-year decrease of 71.93% and 81.48% respectively [55]. - The company underwrote a total of 293 bond issues during the reporting period, with a total underwriting amount of CNY 152.428 billion, a year-on-year increase of 64.63% [60]. - The company ranked 7th in the scale of major credit bonds underwritten, an increase of 1 position compared to the end of the previous year [60]. - The company completed 2 IPO projects in the Hong Kong market, with an issuance scale of HKD 1.046 billion, ranking 3rd among underwriters [57]. Investor Relations - The company has a dedicated contact for investor relations, ensuring effective communication with stakeholders [17]. - In the first half of 2024, the company engaged in 7 investor relations activities, receiving approximately 100 investors, focusing on business development and strategic discussions [155]. - The company is committed to improving the quality of information disclosure and enhancing communication with investors to fulfill its responsibilities as a listed company [158]. Social Responsibility and Sustainability - The company’s public welfare expenditure totaled CNY 12.05 million, with CNY 7.36 million specifically allocated to various charitable initiatives [194]. - The company invested CNY 6.3 million in poverty alleviation efforts over three years, linking social welfare funds of CNY 2.55 million and implementing 80 assistance projects [196]. - The company donated CNY 5 million to support rural revitalization efforts in Guangdong Province during the reporting period [197]. - The company actively promoted green office practices, including waste sorting and electronic procurement systems to enhance resource efficiency [192]. - The company achieved a 0.55 kWh/m² reduction in electricity consumption per unit area in its office building compared to the previous year, while total waste generation decreased by 14.80% [191]. - The company established a comprehensive electronic device lifecycle management system, processing approximately 23 tons of recyclable waste during the reporting period [192]. - The company’s commitment to ESG governance was highlighted by its focus on compliance and risk management, ensuring sustainable growth and shareholder value [194].