2024-03-28 16:00Financial Performance - The company achieved a net profit of RMB 10,466,720,027.50 for the fiscal year 2023, with a distributable profit of RMB 7,326,704,019.25 after statutory reserves[11]. - A cash dividend of RMB 0.43 per share (including tax) is proposed, totaling RMB 3,882,635,481.20, which represents 30.45% of the net profit attributable to shareholders for 2023[11]. - The company reported an ending undistributed profit of RMB 26,560,767,758.75 as of December 31, 2023[11]. - The company achieved an operating income of RMB 36.578 billion and a net profit attributable to shareholders of RMB 12.751 billion in 2023[17]. - The company achieved operating income of RMB 36.578 billion, a year-on-year increase of 14.19%[39]. - Net profit attributable to shareholders reached RMB 12.751 billion, reflecting a growth of 15.35% year-on-year[39]. - The company's operating revenue for 2023 reached approximately ¥36.58 billion, representing a 14.19% increase compared to ¥32.03 billion in 2022[75]. - The net profit attributable to shareholders for 2023 was approximately ¥12.75 billion, up 15.35% from ¥11.05 billion in 2022[75]. - The total assets of the company as of the end of 2023 amounted to approximately ¥905.51 billion, a 6.96% increase from ¥846.57 billion at the end of 2022[75]. - The total liabilities increased by 6.57% to approximately ¥723.29 billion in 2023, compared to ¥678.71 billion in 2022[75]. - The net assets attributable to shareholders increased by 8.49% to approximately ¥179.11 billion in 2023, up from ¥165.10 billion in 2022[75]. Risk Management - The company faces various risks including policy risks, compliance risks, market risks, and operational risks that could impact its business operations[13]. - The company has established a risk management framework to address potential impacts from macroeconomic changes and regulatory shifts in the financial sector[13]. - The company is committed to building a comprehensive risk management system that aligns with its international development strategy[99]. - The company emphasizes digital compliance and risk management to improve operational efficiency and ensure sustainable growth[99]. International Expansion - The company has a strategic focus on international expansion, entering markets such as the United States, the United Kingdom, Singapore, and Hong Kong[13]. - The company has made significant strides in international expansion, with operations in major global markets through subsidiaries in Hong Kong, the UK, and Singapore[58]. - The international business is primarily driven by wealth management income, investment banking income, investment income, and asset management income[95]. - The company has established subsidiaries in major overseas markets, including the US and Singapore, to strengthen its international presence[99]. Client Services and Market Position - The company serves over 21 million clients, with client account assets nearing RMB 5 trillion[17]. - The customer base exceeded 21 million, with total customer account assets nearing RMB 5 trillion[39]. - The company maintains a strong market position in the securities industry, with key financial indicators ranking among the top in the sector, despite the cyclical and volatile nature of the market[92]. - The company's core businesses in wealth management, investment banking, and trading are leading in the industry, with international business strength ranking among the top Chinese brokers in Hong Kong[98]. Technology and Innovation - The company is committed to supporting the transformation of traditional industries and the development of innovative enterprises, focusing on disruptive innovation opportunities[17]. - The company has established a technology-driven business model with advanced digital platforms and extensive client resources, positioning itself as a leading investment bank with both local advantages and global influence[93]. - The company initiated a comprehensive digital transformation in 2019, focusing on business platform development and integrating digital operations across all levels[98]. - The company is actively exploring AI frontier technologies to enhance business-related application scenarios[98]. Awards and Recognition - The company received multiple awards in 2023, including "Best Analyst Team (Mainland) - 3rd Place" and "Best Sales Team (Mainland) - 1st Place" at the 2023 China Securities Industry Jun Ding Awards[87]. - The company was recognized as the "Best Private Debt Investment Institution (Asia-Pacific)" and "Best Real Estate Private Debt Investment Fund Manager (Asia-Pacific)" at the 2022 awards by Private Debt Investor[89]. - The company maintained the highest MSCI ESG rating among domestic securities firms since 2021 and was the first to upgrade from A to AA in the domestic securities industry during the reporting period[98]. Financial Services and Products - The company has established a comprehensive financial service system integrating wealth management, investment banking, and asset management[94]. - The investment banking segment includes domestic and foreign equity financing, bond financing, and financial advisory services, with revenue driven by underwriting fees and advisory fees[94]. - The wealth management market is evolving with a focus on personalized services, requiring enhanced investment research and asset allocation capabilities[103]. - The company aims to enhance its wealth management capabilities through a platform-based, integrated, and ecological development model[102]. Capital and Share Structure - The company's registered capital has changed to RMB 9,029,384,840.00 after the reporting period[45]. - The company's stock structure consists of 81% A shares and 19% H shares after recent capital adjustments[53]. - The company has undergone several capital increases, with the registered capital reaching RMB 907,665 million after the issuance of GDRs in June 2019[52]. Market Trends and Challenges - The overall market environment saw the CSI All A-share index decline by 5.19% in 2023, while the bond market showed an upward trend with the CSI All Bond Index rising by 5.23%[120]. - The total amount of equity financing in China decreased by 34.66% year-on-year to RMB 1,064.61 billion in 2023, with IPOs raising RMB 358.97 billion (down 31.27%) and refinancing raising RMB 705.63 billion (down 36.26%)[121]. - The bond issuance market saw a total issuance of RMB 71,046.47 billion, an increase of 15.46% year-on-year, with corporate bonds accounting for RMB 3,855.40 billion (up 24.43%)[121].