HTSC(601688)2024-10-30 11:09Financial Performance - Revenue for the third quarter of 2024 reached RMB 13,983,075,197.39, a year-on-year increase of 57.82%[4] - Net profit attributable to shareholders of the listed company for the third quarter of 2024 was RMB 7,210,611,150.55, a year-on-year increase of 137.98%[4] - Basic earnings per share for the third quarter of 2024 were RMB 0.78, a year-on-year increase of 143.97%[4] - Total operating revenue for the first three quarters of 2024 reached RMB 31.42 billion, a 15.4% increase compared to RMB 27.23 billion in the same period of 2023[20] - Net interest income for the first three quarters of 2024 was RMB 1.30 billion, a 52.1% increase from RMB 855.91 million in the same period of 2023[20] - Net fee and commission income for the first three quarters of 2024 was RMB 9.23 billion, a 16.7% decrease from RMB 11.08 billion in the same period of 2023[20] - Investment income for the first three quarters of 2024 was RMB 13.56 billion, a 13.4% increase compared to RMB 11.96 billion in the same period of 2023[20] - Net profit attributable to the parent company's shareholders for the first three quarters of 2024 was RMB 12.52 billion, a 30.6% increase from RMB 9.59 billion in the same period of 2023[21] - Basic earnings per share for the first three quarters of 2024 were RMB 1.33, a 30.4% increase from RMB 1.02 in the same period of 2023[21] - Total operating revenue for the first three quarters of 2024 was RMB 11.51 billion, a decrease of 23.5% compared to RMB 15.05 billion in the same period of 2023[29] - Net interest income increased by 4.1% to RMB 2.16 billion in the first three quarters of 2024, up from RMB 2.08 billion in 2023[29] - Net fee and commission income decreased by 10.9% to RMB 4.10 billion in the first three quarters of 2024, compared to RMB 4.60 billion in 2023[29] - Investment income dropped significantly by 53.8% to RMB 3.25 billion in the first three quarters of 2024, down from RMB 7.04 billion in 2023[29] - Net profit for the first three quarters of 2024 was RMB 6.17 billion, a decrease of 25.5% compared to RMB 8.28 billion in 2023[29] - Total comprehensive income for the first three quarters of 2024 was RMB 6.35 billion, down 23.7% from RMB 8.32 billion in 2023[30] Balance Sheet and Capital Structure - Total assets as of the end of the third quarter of 2024 were RMB 847,457,735,985.81, a decrease of 6.41% compared to the end of the previous year[4] - Net capital as of the end of the third quarter of 2024 was RMB 90,559,168,594.74, a decrease of 3.74% compared to the end of the previous year[5] - The company's total assets decreased to RMB 847.46 billion from RMB 905.51 billion at the end of the previous reporting period[17] - The company's total liabilities decreased to RMB 661.63 billion from RMB 723.29 billion at the end of the previous reporting period[18] - The company's total equity increased to RMB 185.83 billion from RMB 182.22 billion at the end of the previous reporting period[18] - The total assets of the company stood at 674.12 billion yuan, slightly down from 683.48 billion yuan at the end of 2023[26] - Total liabilities decreased to 518.75 billion yuan from 528.43 billion yuan at the end of 2023[27] - The company's equity (or shareholders' equity) totaled 155.37 billion yuan, showing a slight increase from 155.05 billion yuan at the end of 2023[27] Risk and Liquidity Metrics - Risk coverage ratio as of the end of the third quarter of 2024 was 340.75%, an increase of 92.95 percentage points compared to the end of the previous year[5] - Capital leverage ratio as of the end of the third quarter of 2024 was 15.87%, an increase of 1.89 percentage points compared to the end of the previous year[5] - Liquidity coverage ratio as of the end of the third quarter of 2024 was 148.21%, a decrease of 4.30 percentage points compared to the end of the previous year[5] - Net stable funding ratio as of the end of the third quarter of 2024 was 145.17%, an increase of 14.33 percentage points compared to the end of the previous year[5] - The company's net capital and other major risk control indicators met regulatory requirements during the reporting period, with no instances of triggering warning standards or non-compliance[5] Cash Flow and Liquidity - Net cash flow from operating activities for the first three quarters of 2024 was RMB 94.88 billion, a significant improvement from a negative RMB 20.06 billion in the same period of 2023[23] - Cash received from disposal of trading financial assets in the first three quarters of 2024 was RMB 71.75 billion, compared to no such activity in the same period of 2023[23] - Cash received from interest, fees, and commissions in the first three quarters of 2024 was RMB 20.48 billion, a 16.1% decrease from RMB 24.40 billion in the same period of 2023[23] - Cash paid for employee compensation and benefits in the first three quarters of 2024 was RMB 8.39 billion, a 2.5% decrease from RMB 8.60 billion in the same period of 2023[23] - Investment activities generated a net cash flow of 19.82 billion yuan, compared to a net outflow of 5.61 billion yuan in the previous period[24] - Financing activities resulted in a net cash outflow of 70.27 billion yuan, contrasting with a net inflow of 3.58 billion yuan in the prior period[24] - The company's monetary funds increased to 150.61 billion yuan as of September 30, 2024, up from 84.02 billion yuan at the end of 2023[26] - Client funds deposits rose to 127.39 billion yuan, a significant increase from 69.13 billion yuan at the end of 2023[26] - The cash and cash equivalents balance at the end of the period was 241.57 billion yuan, up from 193.86 billion yuan in the previous period[24] - Cash flow from operating activities in the first three quarters of 2024 was RMB 82.03 billion, a significant improvement from a negative RMB 13.11 billion in 2023[32] - Cash received from interest, fees, and commissions decreased by 18.5% to RMB 12.41 billion in the first three quarters of 2024, compared to RMB 15.23 billion in 2023[32] - Cash paid for employee compensation increased by 13.5% to RMB 4.45 billion in the first three quarters of 2024, up from RMB 3.93 billion in 2023[32] - Cash received from disposal of trading financial assets was RMB 31.35 billion in the first three quarters of 2024, compared to no such activity reported in 2023[32] - Investment activities generated a net cash flow of 8,071,056,021.74, compared to -3,156,407,810.29 in the previous period[33] - Financing activities resulted in a net cash outflow of -47,689,955,888.51, compared to -3,133,408,988.12 in the previous period[33] - The net increase in cash and cash equivalents was 42,506,075,435.55, compared to -19,812,824,248.38 in the previous period[33] - The ending balance of cash and cash equivalents was 180,394,503,066.59, compared to 139,696,335,124.31 in the previous period[33] Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 241,213[11] - Jiangsu Guoxin Group Co., Ltd. holds 15.21% of the company's shares, making it the largest shareholder[12] - Hong Kong Securities Clearing (Nominees) Limited holds 14.03% of the company's shares, primarily in H-shares[12] - Jiangsu High-tech Investment Group Co., Ltd. holds 3.95% of the company's shares, with a mix of A-shares and H-shares[12] - The actual shares held by Hong Kong Securities Clearing (Nominees) Limited, including those purchased through the Stock Connect program, amount to 1,715,955,648 shares, representing 19.01% of the company's total shares[13] - The total number of GDRs outstanding at the end of the reporting period was 106,755, accounting for 0.13% of the total number approved by the China Securities Regulatory Commission[14] - The company completed the repurchase and cancellation of 2,082,559 A-shares, resulting in a total share capital of 9,027,302,281 shares, with A-shares accounting for 81% and H-shares for 19%[14] Subsidiary and Investment Activities - The company sold all its equity in the US subsidiary AssetMark Financial Holdings, Inc. for a final transaction price of $1.793 billion, effective from September 5, 2024[14] - The total subscribed capital of the Nanjing Huatai New Industry Investment Fund increased from RMB 800 million to RMB 900 million, with Huatai Zijin Investment contributing RMB 250 million[15] - The company's subsidiary Huatai International Financial Holdings obtained a securities trading code in Vietnam, allowing direct trading on the Ho Chi Minh and Hanoi Stock Exchanges[14] - Huatai Securities (USA) Inc., a subsidiary of Huatai International, was approved as a limited underwriting member by the NASDAQ Stock Exchange[14] Debt and Financing Activities - The company issued bonds worth 5,684,508,563.00, compared to 41,510,470,659.64 in the previous period[33] - Debt repayment amounted to 45,705,829,455.60, compared to 38,745,182,037.00 in the previous period[33] - Dividend, profit, or interest payments totaled 7,406,820,249.81, compared to 8,125,648,525.23 in the previous period[33] Other Business Metrics - Interest income increased by 52.05% to 1,301,410,179.98 RMB, mainly due to a decrease in interest expenses on interest-bearing liabilities[10] - Other business income surged by 142.44% to 7,342,331,138.05 RMB, driven by an increase in bulk commodity sales[10] - Other business costs rose by 148.69% to 7,380,333,472.77 RMB, also due to the expansion of bulk commodity sales[10] - Contract liabilities grew by 88.44% to 334,481,483.47 RMB, primarily due to an increase in advance receipts[10] - Other liabilities increased by 75.90% to 3,676,372,421.61 RMB, mainly due to an increase in payable dividends[10] - The company's monetary funds increased to RMB 215.38 billion, with client deposits accounting for RMB 159.62 billion[17]