CSC(601066)2024-10-30 09:26Financial Performance - Revenue for the third quarter was RMB 4.79 billion, a decrease of 2.69% year-over-year[2] - Net profit attributable to shareholders was RMB 1.44 billion, an increase of 4.05% year-over-year[2] - The company's total operating income for the first three quarters of 2024 was 14.31 billion yuan, down from 18.38 billion yuan in the same period of 2023[33] - Net profit attributable to the parent company's shareholders for the first three quarters of 2024 was 4.30 billion yuan, compared to 5.69 billion yuan in the same period of 2023[33] - Total operating income for the first three quarters of 2024 was RMB 10.99 billion, a decrease of 23.8% from RMB 14.42 billion in the same period of 2023[41] - Net profit for the first three quarters of 2024 was RMB 3.78 billion, a 21.1% decrease from RMB 4.79 billion in the same period of 2023[41] - Basic earnings per share (EPS) for Q3 2024 is 0.45 RMB per share[34] - Diluted earnings per share (EPS) for Q3 2024 is 0.45 RMB per share[34] - Total comprehensive income for Q3 2024 is 4,485,884,869.71 RMB[34] - Total comprehensive income for the first three quarters of 2024 was RMB 3.86 billion, a 23.5% decrease from RMB 5.05 billion in the same period of 2023[43] Assets and Liabilities - Total assets as of September 30, 2024, were RMB 554.74 billion, an increase of 6.12% compared to the end of the previous year[3] - Net capital at the end of the reporting period was RMB 65.70 billion, a decrease of 1.74% compared to the end of the previous year[4] - The company's total assets increased to 554.74 billion yuan as of September 30, 2024, compared to 522.75 billion yuan at the end of 2023[29] - The company's total liabilities rose to 453.52 billion yuan as of September 30, 2024, from 425.23 billion yuan at the end of 2023[29] - Total assets increased to RMB 491.85 billion as of September 30, 2024, up from RMB 469.94 billion at the end of 2023[38] - Total liabilities increased to RMB 396.91 billion as of September 30, 2024, up from RMB 378.08 billion at the end of 2023[39] - Shareholders' equity rose to RMB 94.94 billion, a 3.4% increase from RMB 91.86 billion at the end of 2023[39] Cash Flow - Operating cash flow for the first nine months of 2024 was RMB 18.17 billion, compared to a negative RMB 4.35 billion in the same period last year[8] - Financing cash flow for the first nine months of 2024 was a negative RMB 3.08 billion, a decrease of 240.51% year-over-year[8] - Net cash flow from operating activities for the first three quarters of 2024 is 18,169,674,519.47 RMB[35] - Net cash flow from investing activities for the first three quarters of 2024 is 2,063,530,837.31 RMB[35] - Net cash flow from financing activities for the first three quarters of 2024 is -3,080,730,201.85 RMB[37] - Cash and cash equivalents at the end of Q3 2024 is 146,332,892,302.58 RMB[37] - Operating cash flow increased significantly to 23.08 billion yuan in the first three quarters of 2024, compared to a negative 13.82 billion yuan in the same period of 2023[44] - Net cash from investment activities surged to 3.48 billion yuan in 2024, up from 440.45 million yuan in 2023[44] - Cash inflow from financing activities dropped to 43.51 billion yuan in 2024 from 65.39 billion yuan in 2023[44] - Net cash outflow from financing activities was 8.03 billion yuan in 2024, compared to 341.60 million yuan in 2023[45] - Cash and cash equivalents at the end of the period increased to 126.08 billion yuan in 2024 from 110.44 billion yuan in 2023[45] Income and Expenses - Fee and commission net income for the first nine months of 2024 was RMB 6.49 billion, a decrease of 31.60% year-over-year[8] - Interest net income for the first nine months of 2024 was RMB 447.77 million, a decrease of 70.31% year-over-year[8] - The company's net income from fees and commissions for the first three quarters of 2024 was 6.49 billion yuan, down from 9.49 billion yuan in the same period of 2023[33] - The company's net income from investment banking business for the first three quarters of 2024 was 1.50 billion yuan, compared to 3.89 billion yuan in the same period of 2023[33] - Net fee and commission income dropped to RMB 5.27 billion, down 36.9% from RMB 8.34 billion in the first three quarters of 2023[41] - Investment banking fee income declined significantly to RMB 1.40 billion, a 63.2% decrease from RMB 3.80 billion in the same period last year[41] - Fair value change gains increased to RMB 2.50 billion, up 20.2% from RMB 2.08 billion in the first three quarters of 2023[41] - Interest and commission income received in the first three quarters of 2024 is 17,293,022,351.49 RMB[35] - Net cash received from securities trading in the first three quarters of 2024 is 21,929,167,853.70 RMB[35] - Cash received from interest, fees, and commissions decreased to 14.04 billion yuan in 2024 from 17.87 billion yuan in 2023[44] - Cash received from securities trading was 22.09 billion yuan in 2024[44] - Cash paid for employee compensation decreased to 3.75 billion yuan in 2024 from 4.16 billion yuan in 2023[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 138,934[9] - Beijing Financial Holdings Group holds 2,777,389,017 shares, accounting for 35.81% of the total shares[9] - Central Huijin Investment holds 2,386,052,459 shares, representing 30.76% of the total shares[9] - Hong Kong Securities Clearing (Nominee) holds 816,022,928 shares, making up 10.52% of the total shares[9] - CITIC Securities holds 382,849,268 shares, accounting for 4.94% of the total shares[9] - Jinghu Holdings holds 351,647,000 shares, representing 4.53% of the total shares[9] - Tibet Tengyun Investment Management holds 109,556,553 shares, making up 1.41% of the total shares[9] - Hong Kong Securities Clearing holds 73,623,057 shares, accounting for 0.95% of the total shares[9] - Fujian Guian New World Tourism Culture Investment holds 38,861,000 shares, representing 0.50% of the total shares[9] - China Construction Bank - Guotai CSI All Share Securities ETF holds 24,073,586 shares, making up 0.31% of the total shares[9] Bond Issuance - The company completed the issuance of a perpetual subordinated bond and a corporate bond totaling RMB 4.5 billion in Q3 2024[23] - The corporate bond "24 Xintou G5" issued in July 2024 had a size of RMB 1 billion with a 3-year term and a coupon rate of 2.13%[23] - The corporate bond "24 Xintou G6" issued in July 2024 had a size of RMB 1 billion with a 5-year term and a coupon rate of 2.25%[23] - The perpetual subordinated bond "24 Xintou Y2" issued in August 2024 had a size of RMB 2.5 billion with an initial coupon rate of 2.16% for the first 5 years[23] - The company issued 7 billion yuan in perpetual bonds in 2024[44] Regulatory Issues - The company faced regulatory warnings from the Shanghai Stock Exchange in July 2024 for inadequate due diligence on R&D expenses[18][19] - The company received a written warning from the Shenzhen Stock Exchange in September 2024 for insufficient scrutiny of promotional activities and accounting practices[20] Branch Relocations - The company changed the registered addresses of 8 securities branches in Q3 2024[24][25] - The Shenzhen Meilin Zhongkang Road Zhuoyuehui Securities Branch relocated to Meilin Center Plaza (North Area), 3rd Building, 105 Shop, and Unit 1002[24] - The Beijing Sanyuanqiao Securities Branch relocated to Shuguang Xili, Chaoyang District, 1st Floor, 08-2, and 4th Floor, B-503[25] - The Beijing Deshengmen Securities Branch relocated to Xinfeng Street, Xicheng District, Tiancheng Technology Building, Tower A, Room 701[25] Risk and Funding Ratios - Risk coverage ratio was 159.08%, a decrease of 3.13 percentage points year-over-year[4] - Net stable funding ratio was 179.77%, an increase of 28.56 percentage points year-over-year[4] Monetary Funds and Deposits - The company's monetary funds increased to 124.88 billion yuan as of September 30, 2024, from 117.05 billion yuan at the end of 2023[29] - The company's client funds deposits grew to 98.21 billion yuan as of September 30, 2024, from 88.07 billion yuan at the end of 2023[29] - The company's settlement reserve funds increased to 21.98 billion yuan as of September 30, 2024, from 13.51 billion yuan at the end of 2023[29] - The company's financial investments in trading financial assets rose to 231.99 billion yuan as of September 30, 2024, from 214.19 billion yuan at the end of 2023[29] - Client funds deposits grew to RMB 81.56 billion, a 16.1% increase compared to RMB 70.27 billion at the end of 2023[38]