Financial Performance - The company's operating revenue for the first half of 2024 reached ¥1,198,670,567.05, representing a 14.62% increase compared to ¥1,045,764,808.74 in the same period last year[31]. - Net profit attributable to shareholders of the parent company was ¥201,265,120.05, up 20.31% from ¥167,282,207.98 year-on-year[31]. - The net profit after deducting non-recurring gains and losses was ¥197,291,564.12, reflecting a 26.44% increase from ¥156,041,312.09 in the previous year[31]. - The total assets at the end of the reporting period amounted to ¥53,198,797,130.31, a 2.90% increase from ¥51,701,683,772.46 at the end of the previous year[32]. - The total liabilities increased by 3.66% to ¥38,923,940,463.36 from ¥37,551,184,086.55 year-on-year[32]. - The weighted average return on net assets rose to 1.44%, an increase of 0.23 percentage points compared to 1.21% in the previous year[33]. - The company's total comprehensive income attributable to the parent company for the first half of 2024 was RMB 208,225,465.23, an increase from RMB 181,166,706.89 in the same period of 2023, representing a growth of approximately 14.9%[179]. - The net profit for the first half of 2024 was RMB 179,401,440.76, up from RMB 163,729,512.49 in the first half of 2023, representing a growth of 9.9%[178]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per 10 shares, totaling approximately RMB 27,857,308.20 (including tax) based on a total share capital of 4,642,884,700 shares as of June 30, 2024[3]. - The company plans to distribute a cash dividend of 0.06 CNY per 10 shares, totaling 27,857,308.20 CNY, which represents 13.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[116]. Risk Management - The company has established a comprehensive risk management system to identify, assess, and respond to various risks, ensuring operations remain within controllable limits[4]. - Major risks faced by the company include credit risk, market risk, liquidity risk, reputation risk, operational risk, compliance risk, and information technology risk[101]. - The company maintains a robust risk management strategy, focusing on balancing capital, risk, and returns to provide stable profit returns to shareholders[97]. - A four-tier risk management structure is established, including the board of directors, risk control committees, risk management headquarters, and frontline risk control systems[98]. - The company has developed a comprehensive risk management information system covering various risk types and departments, facilitating risk identification, measurement, assessment, monitoring, and reporting[100]. Market Conditions - As of June 28, 2024, major A-share market indices showed declines: Shanghai Composite Index -0.25%, Shenzhen Component Index -7.10%, ChiNext Index -10.99%, and STAR Market -16.42%[37]. - In the first half of 2024, the total trading volume of stock funds in the two markets was RMB 230.34 trillion, a year-on-year decrease of 7.62%[37]. - The scale of equity financing in the industry was RMB 173 billion, down 61.82% year-on-year, with IPOs totaling 44 and raising RMB 32.49 billion, declines of 74.57% and 84.50% respectively[37]. Client and Revenue Growth - In the first half of 2024, the total number of clients in the securities brokerage business reached 3.055 million, an increase of 2.20% year-on-year[45]. - The company's public fund sales amounted to RMB 2.491 billion, representing an increase of 85.00% compared to the same period last year[45]. - The company aims to enhance its wealth management services by integrating online and offline operations, focusing on customer satisfaction and personalized services[45]. - The company achieved a cumulative underwriting/distribution amount of RMB 7.491 billion from 130 bond projects[49]. Compliance and Governance - The board of directors guarantees the truthfulness, accuracy, and completeness of the semi-annual report, with no false records or misleading statements[3]. - The company has been subject to regulatory scrutiny by the Henan Securities Regulatory Bureau for various compliance issues, including improper management of subsidiary investments and risk assessments[124]. - The company has maintained compliance with the Corporate Governance Code and has adopted relevant standards for directors and supervisors during the reporting period[132][133]. Operational Efficiency - The company is committed to optimizing its cost structure and enhancing operational efficiency as part of its strategic initiatives[56]. - The company plans to enhance its professional service capabilities by expanding its stock custody business and enhancing customer resources in the brokerage business[73]. - The company is focusing on compliance culture building and has conducted extensive compliance training for employees[108]. Future Strategies - The company plans to enhance its investment banking capabilities and expand project reserves, particularly around the "7+28+N" industrial chain in Henan[39]. - The company aims to support local enterprises in utilizing overseas capital markets for development, enhancing its strategic role in the Henan capital market[41]. - The company plans to enhance its influence in the Hong Kong capital market by actively expanding various financial advisory and placement projects in the second half of 2024[73]. - The company aims to leverage new technologies in its financial services to improve operational efficiency and customer experience[195].
中州证券(01375) - 2024 - 中期业绩