Financial Performance - Total revenue for 2021 was HKD 5,252,184,000, a decrease of 37.5% from HKD 8,329,747,000 in 2020[8]. - Commission and fee income increased to HKD 3,257,464,000 from HKD 2,864,575,000, representing a growth of 13.7%[8]. - Interest income decreased to HKD 1,741,000,000 from HKD 2,464,585,000, a decline of 29.3%[8]. - Net trading and investment income dropped significantly to HKD 253,720,000 from HKD 3,000,587,000, a decrease of 91.6%[8]. - Shareholders' profit attributable to the company was HKD 300,826,000, down 84.5% from HKD 1,932,877,000 in 2020[8]. - Haitong International achieved a total revenue of HKD 5.252 billion in 2021, with a net profit of HKD 301 million, marking a significant decline of approximately 84% in annual profit attributable to shareholders compared to the previous year[37]. - The total cost decreased by 28% to HKD 3.76 billion, reflecting effective cost control measures implemented by the company[90]. - The total cost-to-income ratio increased to 72% from 62% in the previous year, indicating a rise in operational costs relative to income[89]. Asset Management and Investment - The asset management scale of Haitong International reached approximately HKD 54 billion by the end of 2021, with both management fees and performance fees increasing[43]. - Haitong International's asset management team is exploring opportunities for ESG product issuance and management in the European and American markets[43]. - The asset management division's commission and fee income was HKD 384,380 thousand in 2021, a 4% increase from HKD 370,651 thousand in 2020[132]. - The total assets under management in the asset management division were HKD 54 billion as of December 2021, down from HKD 60.8 billion in December 2020[132]. - The investment division focused on improving the quality of its investment portfolio and exited several investment funds during the year[137]. Market Position and Achievements - The company ranked second in Hong Kong's equity financing project underwriting by issuance volume and completed 10 equity financing projects in the US and India, enhancing its project execution capability and brand influence[32]. - Haitong International's research team achieved first place in 15 categories during the 2021 Asia Money broker rankings, reflecting its strong performance in the industry[32]. - The company ranked second globally in the issuance of G3 high-yield corporate bonds, excluding Japan, based on the number of issuances[39]. - The company completed 39 IPO projects in the Hong Kong market in 2021, ranking second among all investment banks by issuance volume[40]. - The company was involved in six of the top ten IPOs in the Hong Kong market by capital size, including notable projects like JD Logistics and SenseTime[40]. Risk Management and Financial Stability - The company emphasized a diversified income source and risk management strategy, maintaining its industry-leading position amid market uncertainties[32]. - The company maintained a "prudent and conservative" risk appetite, with key risk, capital, and liquidity indicators at their best levels in recent years[46]. - In 2021, Haitong International proactively reduced its asset-liability scale and adjusted its risk asset structure to ensure stable business operations amid a challenging global economic environment[46]. - The company aims to enhance its risk management framework, maintaining key risk indicators at optimal levels to improve overall risk resilience[59]. Corporate Governance - The board is committed to high standards of corporate governance and has complied with the corporate governance code throughout the fiscal year[176]. - The company has established governance policies and procedures, including compliance with legal and regulatory requirements[194]. - The board consists of 12 members, including 5 executive directors and 4 independent non-executive directors, ensuring a diverse composition[182]. - The company has a procedure for directors to seek independent professional advice, with costs covered by the company[187]. - The company encourages directors to participate in continuous professional development, with training records maintained for each director[192]. Sustainability and ESG Initiatives - Haitong International aims to achieve its carbon neutrality goal by 2025, demonstrating its commitment to sustainable finance[47]. - The company achieved an MSCI ESG rating upgrade to A and was included in the FTSE4Good Index, reflecting its outstanding performance in ESG practices[46]. - The company is focusing on ESG investments as a new benchmark in the asset management industry, aligning with global trends and regulatory requirements[75]. - The company launched the world's first ESG-themed Asian high-yield dollar bond ETF in Europe, which quickly gained popularity among overseas investors, leading to rapid growth in asset scale[32]. Future Outlook - The global economic outlook for 2022 is highly uncertain, with potential inflation and supply chain disruptions posing risks to financial market stability[33]. - The outlook for 2022 indicates a challenging global environment with potential capital outflows from emerging markets due to tightening monetary policies[47]. - The company plans to explore new business models and diversify fee income in response to the anticipated negative impact on the primary market in 2022 due to global uncertainties[74]. - Haitong International plans to enhance its flagship asset management products and strengthen its leadership in ESG investments while seeking opportunities in Southeast Asia and overseas markets in 2022[78].
海通国际(00665) - 2021 - 年度财报