2018-03-27 16:00Financial Performance - The company's operating revenue for 2017 was CNY 13,353,213,641.86, representing a year-on-year increase of 14.17% compared to CNY 11,695,453,558.82 in 2016[45]. - The net profit attributable to shareholders of the parent company for 2017 was CNY 5,785,955,137.26, up 7.08% from CNY 5,403,450,595.57 in 2016[45]. - The total assets at the end of 2017 reached CNY 285,643,555,039.46, reflecting a growth of 17.52% from CNY 243,058,427,505.06 at the end of 2016[45]. - The total liabilities increased by 12.65% to CNY 206,309,850,626.72 in 2017 from CNY 183,143,388,785.88 in 2016[45]. - The basic earnings per share for 2017 was CNY 0.7753, a decrease of 14.54% compared to CNY 0.9071 in 2016[46]. - The weighted average return on equity for 2017 was 8.39%, down 2.19 percentage points from 10.58% in 2016[46]. - The net profit for the fourth quarter of 2017 was CNY 1,614,687,115.32, showing a strong performance compared to previous quarters[49]. - The total non-operating income for 2017 amounted to CNY 1,972,358.40, a significant decrease from CNY 49,588,366.20 in 2016[51]. Capital and Equity - The registered capital at the end of the reporting period was CNY 6,699,409,329, an increase from CNY 5,808,135,529 at the end of the previous year[16]. - The company's total share capital as of 2017 is 6,699,409,329 shares, with a registered capital of RMB 6.699 billion[34]. - The company's net capital at the end of 2017 was CNY 54,180,986,692.26, an increase from CNY 45,524,144,216.62 at the end of the previous year[47]. - The equity attributable to shareholders rose to CNY 79.23 billion, a 32.43% increase from CNY 59.83 billion in 2016[55]. - The net profit attributable to the parent company for 2017 was CNY 5.786 billion, with dividends distributed to shareholders amounting to CNY 1.266 billion[157]. Business Qualifications and Services - The company holds membership qualifications with the China Securities Association and has obtained core dealer qualifications for credit risk mitigation tools in January 2017[16]. - The company has been actively involved in various financial services, including margin trading and securities lending qualifications obtained in June 2010[19]. - The company achieved a significant expansion in its business qualifications, including the qualification for private fund comprehensive custody services in October 2012[18]. - The company has established a strong presence in the Hong Kong market with its subsidiary 招商国际 obtaining futures contract trading qualifications in June 2014[19]. - The company has been recognized for its various business qualifications, including the qualification for private investment fund management in August 2014[20]. Risk Management - The company faces various risks including regulatory changes, market risks, and operational risks, which may impact its business strategies and outlook[7]. - The company emphasizes the importance of compliance with legal regulations to mitigate potential legal and operational risks[7]. - The company is committed to optimizing its business processes and enhancing its risk management culture to address identified risks[7]. - The company's risk management system received an AA rating from the CSRC, marking the 10th consecutive year of achieving this rating[76]. Market Position and Share - The company's market share in stock underwriting ranked 7th, improving by 4 positions, while bond underwriting ranked 2nd, improving by 2 positions[68]. - The number of private investment funds under custody reached 9,490, a year-on-year increase of 58.06%, with a market share of 26.89% in the industry[71]. - The total amount of stock and bond underwriting ranked in the top 3 of the industry, indicating a strong position in investment banking services[73]. - The company completed a series of influential IPO projects, including those for Electric Connection Technology Co., Ltd. and Guangzhou Shangpin Home Furnishing Co., Ltd.[105]. Future Plans and Strategic Developments - The company’s future plans and strategic developments are subject to market conditions and regulatory environments, highlighting the need for investor caution[5]. - The company aims to enhance its wealth management services and expand its capital intermediary business in 2018, focusing on optimizing risk pricing and improving credit management capabilities[130]. - The company plans to strengthen its investment management capabilities and product design in 2018, aiming for breakthroughs in product scale and revenue generation[132]. - The company will actively pursue internationalization and strategic cooperation opportunities in 2018, particularly in relation to the "Belt and Road" initiative[132]. Subsidiaries and Investments - The company has five wholly-owned subsidiaries, including 招证国际 and 招商期货, with a total registered capital of RMB 180 million for 招商致远资本[39]. - The company holds a 49% stake in Bosera Asset Management, which reported a net profit of CNY 93.874 million in 2017, an increase from CNY 70.163 million in 2016[185]. - The company’s subsidiary, China Merchants International, reported a revenue of HKD 103.278 million in 2017, significantly up from HKD 72.419 million in 2016, with net profit rising to HKD 29.952 million from HKD 8.940 million[172]. - The company’s subsidiary, China Merchants Futures, achieved a revenue of CNY 37.153 million in 2017, compared to CNY 35.243 million in 2016, with net profit increasing to CNY 16.858 million from CNY 15.238 million[175].