2023-03-30 16:00Financial Performance - In 2022, CITIC Securities achieved an operating revenue of RMB 65.109 billion and a net profit attributable to shareholders of RMB 21.317 billion, with total assets reaching RMB 1.31 trillion[6]. - The company's operating revenue for 2022 was ¥65,108,507,999.21, a decrease of 14.92% compared to ¥76,523,716,526.93 in 2021[46]. - The net profit attributable to shareholders of the parent company for 2022 was ¥21,317,422,282.16, down 7.72% from ¥23,099,624,927.77 in 2021[46]. - The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was ¥20,948,320,173.28, a decrease of 10.15% from ¥23,313,845,883.89 in 2021[46]. - The net cash flow from operating activities for 2022 was ¥78,522,711,376.43, an increase of 175.92% compared to ¥28,458,125,358.77 in 2021[46]. - The basic earnings per share for 2022 were ¥1.42, a decrease of 15.98% from ¥1.69 in 2021[47]. - The weighted average return on equity for 2022 was 8.67%, a decrease of 3.40 percentage points from 12.07% in 2021[47]. - The total operating revenue for the year was RMB 65.11 billion, a decrease of 14.92% compared to the previous year[104]. Asset and Liability Management - Total assets at the end of 2022 were ¥1,308,289,281,705.92, an increase of 2.32% from ¥1,278,664,775,096.62 at the end of 2021[46]. - Total liabilities at the end of 2022 were ¥1,049,917,243,243.36, a decrease of 1.40% from ¥1,064,856,988,915.04 at the end of 2021[46]. - The equity attributable to shareholders of the parent company increased by 21.01% to ¥253,118,087,048.10 at the end of 2022 from ¥209,171,333,355.47 at the end of 2021[46]. - The asset-liability ratio, excluding agency trading and underwriting securities, was 74.51%, a decrease of 4.67 percentage points compared to the previous year[111]. - The group’s overseas subsidiaries had total assets of RMB 231.61 billion, accounting for 17.70% of the group’s total assets[112]. Business Operations and Services - The company facilitated financing for 68 enterprises on the Sci-Tech Innovation Board and the Growth Enterprise Market, with a total financing scale of RMB 149.7 billion[6]. - CITIC Securities issued 129 green bonds, raising a total of RMB 273.7 billion, and enhanced its MSCI ESG rating to BBB[7]. - The company provided comprehensive financial services to various institutional clients, achieving an A-level rating in the annual assessment by the National Social Security Fund Council for its social security and pension portfolios[7]. - The investment banking segment continues to provide a range of services including equity financing and financial advisory, contributing to the overall growth strategy of the company[55]. - In 2022, the company completed 166 A-share underwriting projects with a total underwriting scale of RMB 376.32 billion, a year-on-year increase of 13.38%, holding a market share of 22.31%[57]. - The company maintained its leading position in debt financing, underwriting 3,555 bonds with a total scale of RMB 1,578.58 billion, a year-on-year increase of 0.93%[61]. Corporate Governance and Compliance - The company has established a transparent remuneration policy linked to performance and positions, which is continuously improved based on regulatory requirements[183]. - The company maintained a governance structure that separates powers among the shareholders' meeting, board of directors, supervisory board, and management, ensuring effective oversight[143]. - The company has implemented a risk management framework, which includes regular assessments and compliance reports, to mitigate potential risks[194]. - The company has committed to maintaining independent oversight by ensuring that independent directors constitute one-third of the board[193]. - The company emphasized the importance of compliance management and updated its internal regulations in line with new legal requirements[199]. Social Responsibility and ESG Initiatives - CITIC Securities supported rural revitalization efforts with a total donation of RMB 55.97 million, including RMB 50.47 million specifically for rural revitalization projects[7]. - The company emphasized the integration of ESG principles into its business operations, renaming its board committee to include ESG considerations[7]. - The company has established nine ESG management policies as part of its governance framework[198]. Market Position and Strategic Goals - The company aims to enhance its role in supporting industrial innovation and transformation, contributing to the high-quality development of the economy[8]. - The company is committed to becoming a trusted domestic leader and an internationally first-class investment bank, focusing on creating greater value for shareholders[8]. - The company plans to enhance its service capabilities in mergers and acquisitions and expand its market share in 2023[66]. - The company aims to strengthen its offshore bond issuance capabilities and increase its market share in 2023[63]. Risk Management - The company has established a comprehensive risk management system, enhancing its governance structure and internal controls to monitor financial, operational, compliance, and legal risks[127]. - The company utilizes Value at Risk (VaR) as a primary indicator for assessing overall market risk, conducting stress tests to evaluate potential losses under extreme conditions[134]. - The company has implemented a three-tier risk management framework involving the board, management, and business units to ensure effective risk oversight and control[128]. Employee and Talent Development - The company has implemented a talent strategy focusing on internationalization and professional training to build a competitive workforce[100]. - The company actively engaged in talent development and optimized its incentive mechanisms during the reporting period[195].