2014-07-29 16:00Financial Performance - The company's operating income for the first half of 2014 was CNY 1,922,140,670.23, a decrease of 19.66% compared to CNY 2,392,423,286.96 in the same period of 2013[16]. - Net profit for the first half of 2014 was CNY 408,306,130.19, down 51.32% from CNY 838,688,693.73 in the first half of 2013[16]. - The basic earnings per share for the first half of 2014 was CNY 0.1115, a decrease of 53.01% from CNY 0.2373 in the same period of 2013[17]. - Operating profit for the first half of 2014 was CNY 43,728.83 million, down 59.89% from CNY 109,027.19 million in the first half of 2013[61]. - The company's total comprehensive income attributable to shareholders of the parent company increased by 155.38% to CNY 721 million, compared to CNY 282 million in the previous year[34]. - Total profit decreased to ¥283,556,261.63 from ¥1,053,637,723.74, a decline of around 73.1% year-over-year[119]. - Net profit for the period was ¥298,361,170.12, down from ¥834,994,298.78, reflecting a decrease of approximately 64.3%[119]. Assets and Liabilities - The total assets as of June 30, 2014, reached CNY 72,198,626,702.55, representing a 34.08% increase from CNY 53,845,735,978.45 at the end of 2013[16]. - The total liabilities increased by 58.51% to CNY 47,932,341,741.32 as of June 30, 2014, compared to CNY 30,239,708,084.14 at the end of 2013[16]. - The company's total equity attributable to shareholders increased by 2.86% to CNY 23,489,312,232.95 as of June 30, 2014, compared to CNY 22,836,227,220.91 at the end of 2013[16]. - The company's net capital as of June 30, 2014, was CNY 16.24 billion, an increase of 15.29% from CNY 14.09 billion at the end of 2013[31]. - The total liabilities reached CNY 2,427,353.20 million, a substantial increase from CNY 858,738.57 million in the previous year[67]. - The total assets of the company increased by 33.93% to CNY 63.09 billion from CNY 47.11 billion year-on-year[28]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 4,535,327,455.77 in the first half of 2014, an improvement from a net outflow of CNY 5,732,318,311.35 in the same period of 2013[16]. - The company's net cash outflow from operating activities was 4.535 billion CNY, with cash inflows primarily from repurchase business and interest income[42]. - The net cash flow from operating activities was -4,535,327,455.77 yuan, an improvement from -5,732,318,311.35 yuan in the same period last year, indicating a reduction in cash outflow[125]. - Cash inflow from financing activities totaled 8,415,973,457.82 yuan, down from 12,662,170,000.00 yuan year-on-year, representing a decrease of about 33.5%[125]. Revenue Streams - The brokerage business generated 889 million CNY in revenue, down 6% year-on-year, with a market share of 3.01%, ranking 11th in the industry[43]. - The credit business saw a significant increase in revenue, reaching 640 million CNY, a growth of 121% compared to the previous year[48]. - The investment business reported a loss of 163 million CNY, with historical asset disposals amounting to 390 million CNY[46]. - The asset management business achieved revenue of 100 million CNY, reflecting a year-on-year growth of 22%[50]. Market Position - The company’s market share in margin financing and securities lending was 3.61%, ranking 11th in the industry[35]. - The company’s trading volume in equity transactions was 3.01%, also ranking 11th in the industry[35]. - The company managed a total of 1.634 trillion CNY in entrusted assets, with collective financial products amounting to 155 billion CNY, ranking 6th in the industry[50]. Shareholder Information - The total number of shareholders at the end of the reporting period was 122,339[103]. - The largest shareholder, China Everbright (Group) Company, held 33.92% of the shares, while China Everbright Holdings Limited held 33.33%[105]. - The company distributed a cash dividend of CNY 0.2 per 10 shares, totaling CNY 68.36 million, based on a total of 3.418 billion shares[87]. Regulatory and Compliance - The company faced an administrative penalty from the China Securities Regulatory Commission, resulting in a warning, the confiscation of business income of RMB 2.15 million, and a fine of RMB 4.3 million[98]. - The company received 89 civil lawsuits related to the "8.16" incident, with the total amount in dispute approximately RMB 12.02 million[100]. - The company was rated C class in the annual classification evaluation of securities companies, which will increase the contribution ratio to the investor protection fund[100]. Operational Changes - The number of operating departments increased to 151 in 2014 from 125 in 2013, but revenue per department decreased significantly[58]. - The company appointed new executives, including a new president and several directors, during the reporting period[109]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[106]. Investment and Financial Instruments - The company recognizes financial liabilities at amortized cost using the effective interest method after initial recognition[157]. - The company assesses the impairment of financial assets and recognizes impairment losses when objective evidence indicates a decline in value[161]. - The company recognizes interest income and expenses from repurchase and reverse repurchase agreements using the effective interest method[166].