SWHY(000166)2024-03-28 16:00Financial Performance - Revenue for the year reached 21.501 billion yuan, a year-on-year increase of 4.32%[2] - Total assets at the end of the year amounted to 635.437 billion yuan, a year-on-year increase of 3.64%[2] - Net profit for the year was 5.475 billion yuan, a year-on-year increase of 74.39%[2] - ROE for the year was 4.72%, an increase of 1.79 percentage points year-on-year[2] - Shenwan Hongyuan Securities achieved a net profit attributable to the parent company of 5.524 billion yuan, a year-on-year increase of 58.44%[2] - The board proposed an annual cash dividend of 0.56 yuan per 10 shares, with a dividend payout ratio of 30.44%[2] - The company plans to distribute a cash dividend of RMB 0.56 per share for both A-shares and H-shares, totaling RMB 1,402,236,895.36[7] - Revenue for 2023 reached RMB 21.5 billion, a 4.32% increase compared to 2022[29] - Net profit for 2023 was RMB 5.475 billion, a significant 74.39% increase from 2022[29] - Net profit attributable to shareholders of the listed company increased by 65.16% to RMB 4.606 billion in 2023[29] - Operating cash flow surged by 86.24% to RMB 69.247 billion in 2023[29] - Basic earnings per share (EPS) rose by 63.64% to RMB 0.18 in 2023[29] - Total assets grew by 3.64% to RMB 635.437 billion at the end of 2023[29] - Total liabilities increased by 2.06% to RMB 506.643 billion at the end of 2023[29] - Net assets attributable to shareholders of the listed company increased by 5.37% to RMB 100.145 billion at the end of 2023[29] - Parent company's revenue in 2023 was RMB 965.32 million, a 68.25% decrease compared to 2022[30] - Parent company's net profit in 2023 was RMB 732.47 million, a 72.99% decrease from 2022[30] - Core net capital increased by 11.45% to RMB 61.48 billion in 2023[34] - Subsidiary net capital rose by 15.91% to RMB 30.02 billion in 2023[34] - Total net capital grew by 12.88% to RMB 91.50 billion in 2023[34] - Total assets increased by 7.35% to RMB 558.55 billion in 2023[34] - Risk coverage ratio improved by 43.47 percentage points to 300.77% in 2023[34] - Capital leverage ratio increased by 0.39 percentage points to 11.28% in 2023[34] - Liquidity coverage ratio decreased by 42.51 percentage points to 169.61% in 2023[34] - Net stable funding ratio decreased by 6.27 percentage points to 130.47% in 2023[34] - Net capital to net assets ratio increased by 1.09 percentage points to 76.54% in 2023[34] - Net capital to liabilities ratio increased by 2.42 percentage points to 26.44% in 2023[34] - The company achieved consolidated operating revenue of RMB 21.501 billion, a year-on-year increase of 4.32%[73] - Net profit attributable to shareholders of the listed company was RMB 4.606 billion, a year-on-year increase of 65.16%[73] - Basic earnings per share were RMB 0.18 per share, a year-on-year increase of 63.64%[73] - Weighted average return on equity was 4.72%, an increase of 1.79 percentage points year-on-year[73] - The enterprise financial business segment achieved operating revenue of RMB 3.331 billion, a year-on-year increase of 6.87%[75] - Investment banking business revenue was RMB 1.953 billion, while principal investment business revenue was RMB 1.378 billion[75] - The company's personal financial business achieved revenue of RMB 7.686 billion, a year-on-year increase of 12.04%[90] - The company's securities brokerage business achieved net income of RMB 2.82 billion from agency trading, with the number of new clients increasing by 34.66% year-on-year, and client custody assets reaching RMB 3.96 trillion, a year-on-year increase of 3.94%[92] - The company's principal investment business added 8 new equity investment projects and 1科创板 follow-on investment project, with 1 existing equity project achieving IPO on the科创板[89] - The company's financial advisory business completed 12 domestic financial advisory projects, ranking 5th in the industry, and added 15 overseas financial advisory projects[86] - The company's investment management business achieved revenue of RMB 11.68 billion, a year-on-year decrease of 24.37%[126] - The company's asset management scale reached RMB 2,017.45 billion, with active management assets accounting for RMB 1,816.87 billion, representing 90.06% of the total[128] - The company issued 45 "fixed income + derivatives" asset management plans with a total issuance scale of RMB 5.772 billion, an increase of 87.4% year-on-year[128] - The company's ABS business added management scale increased by 37.10% year-on-year, ranking 13th in the market by issuance count[128] - The company's public fund management business operates in a market with 145 public fund management institutions managing 11,528 public fund products, with a total net value of RMB 27.60 trillion[130] - The company's public fund investment advisory service has accumulated over 70,000 signed clients with a cumulative reinvestment rate exceeding 85%, and the average client usage duration is over 989 days[131] - Shenwan Lingxin's public fund management scale reached RMB 78.931 billion, a year-on-year increase of 7.04%, with non-monetary public fund management scale at RMB 71.161 billion, up 1.21% year-on-year[131] - Fullgoal Fund's total managed assets reached RMB 1.4 trillion, with public fund assets exceeding RMB 890 billion[131] - The company's private fund management scale exceeded RMB 15 billion, with Shenwan Investment's cumulative management scale surpassing RMB 17.5 billion and an average annualized return rate of approximately 12% for exited projects[134] - The company achieved total operating revenue of RMB 21.501 billion in 2023, with investment income accounting for 36.25% of total revenue, a significant increase of 74.85% year-on-year[138] - Brokerage business commission income decreased by 16.82% year-on-year to RMB 4.334 billion, accounting for 20.16% of total revenue[138] - Investment banking business commission income dropped by 23.14% year-on-year to RMB 1.445 billion, representing 6.72% of total revenue[138] - Asset management and fund management business commission income declined by 22.08% year-on-year to RMB 975.46 million, making up 4.54% of total revenue[138] - Net interest income surged by 259.16% year-on-year to RMB 331.5 million, accounting for 1.54% of total revenue[138] - Fair value change gains increased by 28.31% year-on-year to RMB 1.758 billion, representing 8.18% of total revenue[138] - Net fee and commission income decreased by RMB 1.527 billion (17.89%) to RMB 7.007 billion, with brokerage fee income dropping by RMB 877 million (16.82%) due to market decline and reduced trading activity[139] - Investment income and fair value change income increased by RMB 3.724 billion (63.91%) to RMB 9.551 billion, driven by improved performance in investment business[139] - Net interest income surged by RMB 240 million (259.16%) to RMB 332 million, primarily due to increased bond interest income[139] - Other income decreased by RMB 1.545 billion (25.10%) to RMB 4.611 billion, mainly due to reduced bulk commodity sales[139] - Operating expenses totaled RMB 15.344 billion, with business and management fees increasing by RMB 413 million (4.07%) to RMB 10.553 billion, driven by higher human resource costs[141] - Net cash flow from operating activities increased by RMB 32.066 billion to RMB 69.247 billion, mainly due to increased cash inflows from financial instruments held for trading purposes[145] - Net cash flow from investing activities saw a net outflow of RMB 75.417 billion, an increase of RMB 57.478 billion in net outflow, primarily due to increased cash payments for investments[146] - Net cash flow from financing activities decreased by RMB 9.165 billion in net outflow to RMB 8.820 billion, mainly due to reduced cash payments for debt repayment[147] - Corporate finance segment achieved a 45.22% operating profit margin, with investment banking revenue decreasing by 14.87%[148] - Personal finance segment revenue increased by 12.04% to RMB 7.686 billion, with an operating profit margin of 30.96%[148] - Total revenue for 2023 reached RMB 215.01 billion, a year-on-year increase of 4.32%[149] - Revenue from overseas subsidiaries surged by 150.10% to RMB 537.44 million[149] - Operating profit in the Southwest region increased by 4.60% to RMB 2.69 billion[150] - The company's total operating profit for 2023 was RMB 61.57 billion, a significant increase of 96.98% compared to 2022[150] - Monetary funds decreased by 1.01 percentage points to 17.46% of total assets, primarily due to reduced customer funds[152] - Derivative financial assets increased by 0.27 percentage points to 1.61% of total assets, driven by changes in the scale and fair value of equity and interest rate derivatives[152] - Other equity instrument investments saw a substantial increase of 10.78 percentage points, reaching 11.11% of total assets[152] - The scale of other debt investments increased by 2.66 percentage points to 11.55% of total assets, mainly due to the growth in financial bonds, government bonds, and local bonds held for interest income and sale purposes[152] - Short-term borrowings decreased to 835,592,442.12, accounting for 0.16% of total liabilities, down by 0.19 percentage points compared to the previous year[153] - Short-term financing payables increased to 28,055,960,610.30, accounting for 5.54% of total liabilities, up by 1.10 percentage points due to the issuance of short-term corporate bonds and income certificates[153] - Repurchase financial assets sold increased to 163,215,332,852.98, accounting for 32.22% of total liabilities, up by 1.30 percentage points due to the growth in pledged repurchase and outright repurchase business[153] - Client margin deposits decreased to 96,870,504,341.28, accounting for 19.12% of total liabilities, down by 1.09 percentage points[153] - Bonds payable decreased to 137,228,904,790.73, accounting for 27.09% of total liabilities, down by 3.36 percentage points due to a reduction in the scale of corporate bonds issued[153] - The fair value of trading financial assets increased to 279,019,040,241.37, with a fair value change of 487,880,997.10 during the period[155] - The fair value of derivative financial assets increased to 8,197,281,520.04, with a fair value change of 1,616,913,111.37 during the period[155] - The fair value of other debt investments increased to 54,510,847,491.05, with a cumulative fair value change of 673,467,156.73 included in equity[155] - The fair value of other equity instrument investments increased to 2,029,729,506.75, with a cumulative fair value change of 1,368,871,802.47 included in equity[155] - The fair value of trading financial liabilities increased to 5,694,306,280.79, with a fair value change of -42,443,317.84 during the period[155] - Settlement reserves decreased by 30.67% to RMB 20.46 billion in 2023 from RMB 29.51 billion in 2022 due to reduced settlement reserves in futures and proprietary securities businesses[157] - Buyback financial assets dropped by 73.54% to RMB 4.61 billion in 2023 from RMB 17.44 billion in 2022, mainly due to a decline in bond and stock pledge repurchase business[157] - Other debt investments increased by 34.65% to RMB 73.40 billion in 2023 from RMB 54.51 billion in 2022, driven by growth in holdings of financial bonds, government bonds, and local bonds[157] - Other equity instrument investments surged by 3,377.99% to RMB 70.59 billion in 2023 from RMB 2.03 billion in 2022, reflecting an increase in non-trading equity investments[157] - Short-term borrowings decreased by 51.40% to RMB 835.59 million in 2023 from RMB 1.72 billion in 2022, due to reduced bank short-term loans[157] - Interest income rose by 259.16% to RMB 331.50 million in 2023 from RMB 92.30 million in 2022, driven by higher bond interest income[157] - Investment income increased by 74.85% to RMB 7.79 billion in 2023 from RMB 4.46 billion in 2022, mainly due to gains from trading financial assets and other equity instruments[157] - Total liabilities as of December 31, 2023, amounted to RMB 168.56 billion, with 61.02% of the debt having a maturity of over one year and 38.98% within one year[159] - The company maintained sufficient liquidity reserves, with liquidity coverage and net stable funding ratios of its securities subsidiaries meeting regulatory standards[160] - The company's long-term and short-term financing capabilities remain strong, supported by diverse financing channels and good credit records[160] - The company's initial investment cost for the 21 Bank of Communications bond (2128013.IB) was 3,070,000,000.00 RMB, with a fair value of 3,317,947,528.29 RMB, resulting in a cumulative fair value change of 77,372.35 RMB[162] - The initial investment cost for the 21 Agricultural Bank bond (2128015.IB) was 2,960,000,000.00 RMB, with a fair value of 3,028,770,606.82 RMB, and a cumulative fair value change of -843,549.82 RMB[162] - The 20 China Development Bank bond (200205.IB) had an initial investment cost of 2,589,639,720.00 RMB, with a fair value of 2,729,138,170.17 RMB, and a fair value change of 24,513,180.00 RMB[162] - The 22 China Development Bank bond (220208.IB) had an initial investment cost of 2,288,714,692.70 RMB, with a fair value of 2,445,083,732.64 RMB, and a fair value change of 9,746,467.30 RMB[162] - The 23 Interest-bearing bond (230015.IB) had an initial investment cost of 2,129,771,550.00 RMB, with a fair value of 2,154,280,719.84 RMB, and a cumulative fair value change of 2,299,083.11 RMB[162] - The 21 China Everbright Bank bond (2128010.IB) had an initial investment cost of 1,590,000,000.00 RMB, with a fair value of 1,636,251,874.92 RMB, and a cumulative fair value change of 206,954.77 RMB[162] - The company's total assets for its wholly-owned subsidiary, Shenwan Hongyuan Securities Co., Ltd., were 556,529,828,871.02 RMB, with operating income of 128,881,324,985.49 RMB and a net profit of 19,099,378,794.00 RMB[166] - The total assets for Hongyuan Futures Co., Ltd., another wholly-owned subsidiary, were 15,555,089,951.13 RMB, with operating income of 1,346,688,503.78 RMB and a net profit of -206,315,816.52 RMB[166] - The total assets for Hongyuan Huifu Venture Capital Co., Ltd. were 603,509,591.96 RMB, with operating income of 123,908,088.83 RMB and a net profit of 42,001,908.96 RMB[166] - The total assets for Shenwan Hongyuan Western Securities Co., Ltd. were 259,670,007.35 RMB, with operating income of 38,856,067.67 RMB and a net profit of 29,261,908.80 RMB[166] - Total assets of Shenwan Hongyuan Securities underwriting and sponsorship reached RMB 1,866,467,275.12, with operating income of RMB 804,205,174.20[167] - Shenwan Hongyuan Futures' total assets amounted to RMB 30,411,061,973.74, with operating income of RMB 286,476,217.52[167] - Shenwan BNP Paribas Fund Management's total assets were RMB 1,626,206,422.00, with operating income of RMB 549,954,214.00[167] - Shenwan Hongyuan Innovation Investment's total assets reached RMB 2,840,808,889.22, with operating income of RMB 139,428,888.89[167] - Shenwan Hongyuan Investment's total assets were RMB 1,203,356,202.50, with a net loss of RMB 22,