2023-03-30 16:00Financial Performance - In 2022, the company achieved an operating income of RMB 27.565 billion, a year-on-year decrease of 7.72%, and a net profit attributable to shareholders of RMB 7.507 billion, down 26.68%[11]. - The company's total revenue for 2022 was ¥27,565,197,901.59, a decrease of 7.72% compared to ¥29,872,018,672.13 in 2021[45]. - Net profit attributable to shareholders for 2022 was ¥7,507,303,538.16, down 26.68% from ¥10,238,703,346.84 in the previous year[45]. - The company's registered capital remains at RMB 7,756,694,797.00 as of December 31, 2022, unchanged from the previous year[18]. - The net capital decreased to RMB 65,197,727,449.69 from RMB 66,931,599,813.72, reflecting a decline of approximately 2.6% year-over-year[18]. - The company reported a basic earnings per share of ¥0.86 for 2022, a decrease of 31.20% compared to ¥1.25 in 2021[46]. - The weighted average return on equity for 2022 was 9.99%, down 5.81 percentage points from 15.80% in 2021[46]. Asset Management and Growth - As of the end of 2022, the total assets of CITIC Securities reached RMB 509.955 billion, and the net assets attributable to shareholders increased by 16.82% to RMB 93.244 billion[11]. - The asset management scale, especially for equity products, showed significant growth, with the management scale of CITIC Securities Fund exceeding RMB 100 billion[11]. - The total scale of asset custody and operation services was RMB 795.405 billion, a year-on-year growth of 5.88%[92]. - The company managed a total of 4,774.51 billion RMB in assets under management, representing a year-on-year increase of 11.74%[98]. - The total number of asset management products reached 5,809, with a year-on-year growth of 30.01%[98]. Business Segments and Performance - The investment banking segment achieved operating revenue of RMB 5.838 billion, an increase of 5.60% year-on-year[64]. - The wealth management segment generated operating revenue of RMB 6.140 billion, a decrease of 3.82% year-on-year[64]. - The trading and institutional client services segment reported operating revenue of RMB 6.724 billion, down 25.17% year-on-year[64]. - The asset management segment's operating revenue was RMB 1.680 billion, a decrease of 6.07% year-on-year[64]. - The company maintained its leading position in fixed income business, ranking 2nd in credit bond sales among domestic financial institutions, and has been the top in bond underwriting amount for 8 consecutive years[87]. Market Position and Strategy - The company aims to become a first-class investment bank in China, focusing on high-quality development in the securities industry following the implementation of the comprehensive registration system in February 2023[13]. - The company plans to deepen its "industry + region + product" matrix layout in 2023, focusing on supporting strategic emerging industries and technology innovation enterprises[69]. - The company aims to enhance its comprehensive service capabilities and strengthen collaboration with other business sectors in 2023[69]. - The company plans to enhance services for high-net-worth clients and strengthen technology empowerment in 2023[82]. - The company aims to maintain a steady and prudent approach to stock pledge repurchase business while enhancing asset quality through refined internal management[84]. Risk Management and Compliance - The company has established a comprehensive risk management and compliance system, being one of the first pilot enterprises for consolidated supervision in the domestic securities industry[112]. - The risk management framework is overseen by the board of directors, with dedicated departments for risk management, legal compliance, and auditing[150]. - The company has implemented a liquidity risk limit management system, maintaining liquidity coverage and net stable funding ratios within compliant and stable ranges[160]. - The company has established a crisis management mechanism to address liquidity crises and trading system failures, with regular drills conducted[154]. - The company has a compliance management system that includes compliance consultation, audits, and monitoring to mitigate legal and compliance risks[155]. Corporate Governance - The company has established a comprehensive corporate governance structure, including a board of directors, supervisory board, and executive committee, ensuring clear responsibilities and compliance with regulations[169]. - The company emphasizes high-quality development and has improved its governance standards, ensuring timely and accurate information disclosure to protect investor rights[169]. - The board consists of 14 members, including 2 executive directors and 5 independent non-executive directors[194]. - The independent non-executive directors maintain independence and have equal access to information, ensuring the protection of minority shareholders' rights[196]. - The company has a structured approach to remuneration decision-making, aligning with industry standards and performance metrics[187]. Technological Advancements - The company is focusing on integrating emerging technologies such as AI, big data, and blockchain into its business operations[111]. - The company plans to implement a new customer loyalty program aimed at increasing user retention by 15%[179]. - The company is investing heavily in research and development, allocating 1 billion RMB for new technology initiatives in the upcoming year[181]. - The company aims to improve operational efficiency, targeting a 10% reduction in costs through digital transformation[182]. - The company has established a Data Management Department on December 29, 2022, to enhance data governance[199]. Shareholder Engagement - The company held three shareholder meetings in 2022, including the annual meeting on June 28, where multiple resolutions were passed, including the approval of the 2021 financial statements and profit distribution plan[173]. - The total pre-tax remuneration for the chairman, Wang Changqing, was CNY 395.51 million, while the general manager, Li Ge Ping, received CNY 393.51 million[174]. - The company continues to focus on enhancing investor relations and ensuring the protection of minority shareholder rights[169]. - The company has not faced any penalties from securities regulatory authorities in the past three years[189]. - The company has seen changes in its board composition, with several independent non-executive directors being elected and others leaving due to term expiration or age reasons[188].