CGS(601881)2025-03-28 16:35Dividend Distribution - The company plans to distribute a cash dividend of RMB 2,143,142,842.18 (including tax), which translates to RMB 1.96 per 10 shares based on a total share capital of 10,934,402,256 shares as of the end of 2024[5]. - After considering the interim cash dividend of RMB 0.84 per 10 shares distributed in 2024, the total proposed cash dividend for the reporting period is RMB 3,061,632,631.68 (including tax), equating to RMB 2.80 per 10 shares[5]. - The proposed cash dividend distribution is subject to approval at the shareholders' meeting[5]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Huaming and Ernst & Young for the 2024 financial report[3]. - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. Risk Management - The company faces various risks including legal and compliance risks due to regulatory changes, strategic risks from market fluctuations, and operational risks from business model transformations[7]. - The company has established an integrated risk prevention system to manage operational, market, and credit risks through regular monitoring and process optimization[7]. - The company emphasizes the importance of risk awareness regarding future plans and strategic developments, advising investors to be cautious[6]. Shareholder Information - The company’s major shareholder, China Galaxy Financial Holdings, held 47.43% of the issued share capital at the end of the reporting period[12]. Financial Performance - The company's operating revenue for 2024 reached ¥35.47 billion, an increase of 5.43% compared to ¥33.64 billion in 2023[49]. - Net profit attributable to shareholders was ¥10.03 billion, reflecting a significant growth of 27.31% from ¥7.88 billion in the previous year[49]. - The net cash flow from operating activities improved dramatically to ¥34.80 billion, a 178.62% increase from a negative cash flow of ¥44.26 billion in 2023[49]. - Total assets at the end of 2024 amounted to ¥737.47 billion, up 11.20% from ¥663.21 billion in 2023[49]. - The total liabilities increased by 12.06% to ¥596.97 billion, compared to ¥532.71 billion in the previous year[49]. - Basic earnings per share rose to ¥0.81, a 20.90% increase from ¥0.67 in 2023[50]. - The weighted average return on equity improved to 8.30%, up from 7.52% in the previous year[50]. Capital and Asset Management - The registered capital increased to RMB 10,934,402,256, up from RMB 10,137,258,757 at the end of the previous year, reflecting a growth of approximately 7.85%[20]. - The net capital reached RMB 111,090,346,133, compared to RMB 100,100,154,912.51 at the end of the last year, indicating an increase of about 10.00%[20]. - The company’s net capital at the end of the reporting period was ¥111.09 billion, an increase from ¥100.10 billion at the end of the previous year[51]. Business Operations and Expansion - The company holds various business qualifications, including open-ended securities investment fund sales and securities investment fund custody, enhancing its operational capabilities[21][22]. - The company is a member of both the Shanghai Stock Exchange and the Shenzhen Stock Exchange, which facilitates its trading activities[24]. - The company has been approved for multiple business qualifications by regulatory bodies, including the China Securities Regulatory Commission and the People's Bank of China, expanding its service offerings[25]. - The company has a comprehensive range of services, including margin trading and securities lending, which supports its revenue generation[23]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the upcoming fiscal year[19]. - The company aims to leverage new technologies in its operations to improve efficiency and customer service[19]. - The company is focused on expanding its product offerings in the financial services sector to meet diverse client needs[19]. Branch and Network Development - As of the report date, the company has 461 securities business departments distributed across 31 provinces, autonomous regions, and municipalities in China[41]. - The company has established 37 branches, each with operating capital of RMB 5 million[43]. - The branches are distributed across various provinces, including Shenzhen, Zhejiang, Guangdong, and Beijing, established between 2011 and 2014[44]. - The company has expanded its presence in key regions, including Shanghai, Hunan, and Tianjin, enhancing its market reach[43]. - The company has made adjustments to its branch network, including the relocation of 49 branches during the reporting period[152]. - The relocation strategy is part of a broader market expansion initiative, targeting key economic regions in China[153][155]. Investment Banking and Advisory Services - The company completed one IPO project and four financial advisory projects for mergers and acquisitions, with a transaction amount of RMB 18.667 billion, ranking 8th in the industry[73]. - In 2024, the company completed 23 Hong Kong IPO projects and underwrote 278 offshore bond projects, enhancing its competitiveness in investment banking[84]. - The company was awarded multiple accolades, including the "Best ESG Practice Research Institution" and "Best Offshore RMB Bond Investment Institution" in Hong Kong[85]. Technology and Innovation - The company is focusing on digital platform construction and embracing new opportunities in information technology transformation[63]. - The company aims to advance its financial technology strategy, integrating AI and big data into its operations, and improving IT infrastructure and risk management capabilities[168]. Risk Control and Compliance - The company has established a centralized account management system to ensure compliance with account standards[157]. - The company has implemented a well-defined operational risk management system, enhancing the collection of loss data and self-assessment of risks and controls[182]. - The company has established a risk management organization system with a three-line defense structure, integrating subsidiary risk management[196]. Strategic Development - The strategic development plan for 2023-2025 aims to position the company as a leader in wealth management and a service provider for the real economy[163]. - The company plans to adhere to five strategic principles, including serving the real economy and ensuring compliance and risk control[163]. - The company is committed to improving its core competitiveness and achieving high-quality development[163].