Financial Performance - The company achieved operating revenue of RMB 13,754,570,045.36, representing a decrease of 10.38% compared to the same period last year[3] - Net profit attributable to shareholders of the parent company was RMB 4,958,574,616.76, down 8.47% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 4,905,307,059.69, a decrease of 7.97%[3] - Basic and diluted earnings per share were both RMB 0.32, reflecting an 11.11% decrease[3] - The weighted average return on equity was 1.88%, a decrease of 0.19 percentage points[3] - Total operating revenue for Q1 2024 was RMB 13,754,570,045.36, a decrease of 10.36% from RMB 15,348,206,851.13 in Q1 2023[22] - Net profit for Q1 2024 was RMB 5,162,144,371.10, a decrease of 8.32% compared to RMB 5,630,244,490.29 in Q1 2023[23] - Earnings per share for Q1 2024 was RMB 0.32, down from RMB 0.36 in Q1 2023[23] - Net profit for Q1 2024 was RMB 4.33 billion, a decrease of 9.2% from RMB 4.77 billion in Q1 2023[29] - Investment income for Q1 2024 was RMB 1.12 billion, a decrease of 68.9% from RMB 3.59 billion in Q1 2023[28] - The company reported a decrease in commission income, with net commission income for Q1 2024 at RMB 2.65 billion, down 40.0% from RMB 4.42 billion in Q1 2023[28] Cash Flow and Assets - The net cash flow from operating activities was RMB 70,495,179,857.14, an increase of 3,296.98% year-on-year[3] - The company reported a significant increase in cash flow from operating activities, attributed to changes in liabilities and financial asset valuations[5] - In Q1 2024, the net cash flow from operating activities was RMB 70.50 billion, a significant improvement compared to a net outflow of RMB 2.21 billion in Q1 2023[24] - Total cash inflow from operating activities reached RMB 144.17 billion, up from RMB 125.86 billion in the same period last year, representing a year-over-year increase of approximately 14.5%[24] - The company reported a net increase in cash and cash equivalents of RMB 32.31 billion in Q1 2024, compared to RMB 21.45 billion in Q1 2023, indicating a growth of about 50.6%[25] - The cash and cash equivalents of CITIC Securities increased to RMB 334,349,441,328.58 from RMB 302,792,491,927.58, reflecting a growth of approximately 10.4%[20] - The total assets as of March 31, 2024, amounted to RMB 1,134.29 billion, an increase from RMB 1,046.95 billion at the end of 2023, reflecting a growth of approximately 8.3%[26] - The company’s financial assets held for trading increased to RMB 489.48 billion as of March 31, 2024, up from RMB 446.32 billion at the end of 2023, showing a growth of about 9.7%[26] - The total assets of CITIC Securities amounted to RMB 1,567,330,467,626.26, an increase from RMB 1,453,359,126,043.71 as of December 31, 2023, representing a growth of approximately 7.9%[20] Liabilities and Equity - Total liabilities increased to RMB 1,281,425,588,671.87 as of March 31, 2024, compared to RMB 1,179,159,917,980.10 as of December 31, 2023, reflecting an increase of 8.66%[21] - Total equity increased to RMB 285,904,878,954.39 as of March 31, 2024, from RMB 274,199,208,063.61 as of December 31, 2023, an increase of 4.67%[21] - Total liabilities increased to RMB 901.96 billion as of March 31, 2024, up 9.1% from RMB 826.19 billion as of December 31, 2023[27] - Total equity increased to RMB 232.33 billion as of March 31, 2024, up 5.7% from RMB 220.77 billion as of December 31, 2023[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 544,164[6] - As of March 31, 2024, the total number of shareholders is 544,164, with 544,007 A-share shareholders and 157 H-share registered shareholders[8] - China CITIC Financial Holdings Co., Ltd. holds 2,299,650,108 A-shares and 640,182,604 H-shares, totaling 2,939,832,712 shares, accounting for 19.84% of the company[8] - The total number of shares held by the top ten unrestricted shareholders includes significant holdings from various investment funds and banks[9] Corporate Actions and Developments - The company issued a short-term corporate bond of RMB 3 billion with a coupon rate of 2.53% on January 11, 2024, which was listed on the Shanghai Stock Exchange[10] - The company issued a corporate bond of RMB 1.5 billion with a coupon rate of 2.68% and RMB 2.3 billion with a coupon rate of 2.74% on January 17, 2024, both listed on the Shanghai Stock Exchange[10] - The company issued perpetual subordinated bonds of RMB 3 billion with a coupon rate of 3.01% on January 29, 2024, listed on the Shanghai Stock Exchange[10] - The company issued a corporate bond of RMB 4 billion with a coupon rate of 2.69% on March 8, 2024, listed on the Shanghai Stock Exchange[11] - The company issued a corporate bond of RMB 3.6 billion with a coupon rate of 2.54% on March 25, 2024, listed on the Shanghai Stock Exchange[11] - The company established one new securities business department and completed the relocation of four departments during the reporting period[12] - The company has a total of 45 branches and 223 securities business departments as of the end of the reporting period[13] - CITIC Securities (Shandong) completed the relocation of 3 securities business departments during the reporting period, maintaining a total of 59 securities business departments[14] - CITIC Securities is in the process of transferring 21 branches in five provinces to its wholly-owned subsidiary, CITIC Securities South China, with the transfer price not less than the latest audited net asset value[18] - CITIC Securities has taken corrective actions in response to regulatory warnings regarding the performance of a sponsored convertible bond project[18] Operational Efficiency - Total operating expenses for Q1 2024 were RMB 7,120,341,943.31, down 11.21% from RMB 8,017,667,773.07 in Q1 2023[22] - The company’s total operating expenses for Q1 2024 were RMB 3.39 billion, a decrease of 21.9% from RMB 4.34 billion in Q1 2023[28] - The cash paid to employees decreased to RMB 2.56 billion in Q1 2024 from RMB 3.00 billion in Q1 2023, reflecting a reduction of approximately 14.7%[30] - The cash paid for taxes in Q1 2024 was RMB 1.25 billion, up from RMB 0.83 billion in Q1 2023, indicating a year-over-year increase of approximately 50.0%[30] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[22]
中信证券(06030) - 2024 Q1 - 季度业绩