2025-03-27 14:15Financial Performance - The company achieved an annual revenue of 20.891 billion CNY and a net profit of 10.386 billion CNY, marking a significant growth with net profit exceeding 10 billion CNY for the second consecutive year[3]. - The company's operating revenue for 2024 reached ¥20,891,398,043.11, representing a 5.40% increase compared to ¥19,821,213,073.58 in 2023[65]. - Net profit attributable to shareholders of the parent company was ¥10,385,872,410.71 in 2024, an 18.51% increase from ¥8,763,959,184.96 in 2023[65]. - The net cash flow from operating activities surged by 101.91% to ¥54,726,248,578.68 in 2024, compared to ¥27,103,725,895.06 in 2023[65]. - The company's total assets as of the end of 2024 amounted to ¥721,160,331,448.06, a 3.64% increase from ¥695,852,990,280.62 at the end of 2023[65]. - The company's total liabilities increased by 2.98% to ¥590,908,098,061.63 in 2024, up from ¥573,816,058,013.50 in 2023[65]. - Basic earnings per share for 2024 were ¥1.13, reflecting a 20.21% increase from ¥0.94 in 2023[66]. - The weighted average return on equity rose to 8.82% in 2024, an increase of 0.91 percentage points from 7.91% in 2023[66]. Strategic Development - The company is focused on a new five-year strategic plan emphasizing "intelligent, digital, technology-driven, and international" development paths, with a commitment to serving national technological self-reliance and social wealth preservation[4]. - The company plans to enhance its core competitiveness and achieve high-quality development by implementing its five-year strategic plan in 2025[195]. - The company aims to concentrate financial resources on technological innovation, with a strategic focus on "intensive, intelligent, technology-driven, and international" development from 2024 to 2028[194]. - The company anticipates that the capital market will play a more significant role in supporting high-quality development of the real economy, presenting new historical opportunities for strategic development[13]. Risk Management - The company emphasizes the importance of risk management across its organizational structure, system framework, and information technology systems[19]. - The company has established a comprehensive risk management system to address various risks, including market, credit, operational, and liquidity risks[196]. - The board and the risk management committee are responsible for approving the comprehensive risk management system, risk appetite, risk tolerance, and various risk limit indicators, meeting quarterly to review risk reports[199]. - Senior management is fully responsible for risk management in business operations, regularly reviewing risk assessment reports and determining risk control measures[199]. - The risk management department leads market, credit, and operational risk management efforts[200]. Business Expansion and Qualifications - The company has been actively involved in market expansion, with qualifications for various financial services, including ETF options and cross-border business since 2018[36][37]. - The company has obtained new business qualifications, including participation in carbon emission trading and swap convenience business, expected to be effective by December 2024 and October 2024 respectively[36]. - The company has expanded its business qualifications in derivatives, including standard interest rate swap and standard bond forward quoting, both approved in November 2023[36]. - The company aims to leverage its existing qualifications to explore new market opportunities and enhance its service offerings[36][37]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.77 per 10 shares to all shareholders, totaling approximately RMB 3.28 billion based on 8,696,526,806 shares outstanding[15][16]. - The company will not allocate statutory surplus reserves for the fiscal year 2024, maintaining the total distribution amount unchanged even if the total share capital changes[16]. - The company does not plan to issue bonus shares or convert capital reserves into share capital in the upcoming dividend distribution[15][16]. Market Position and Recognition - The company has been recognized as a "benchmark" enterprise in the annual assessment by the State-owned Assets Supervision and Administration Commission for two consecutive years[10]. - The company ranked 4th in the industry with a client equity scale of 58.804 billion yuan, reflecting a year-on-year growth of 16.50%[92]. - The company was recognized as a benchmark enterprise in the 2023 annual assessment by the State-owned Assets Supervision and Administration Commission (SASAC) for the second consecutive year[86]. Financial Technology and Innovation - The company has made significant investments in financial technology, enhancing its digital capabilities and service offerings[140]. - The company has established a leading enterprise-level cloud-native digital infrastructure, enhancing its technological capabilities in the cloud era[186]. - The company launched an integrated advisory service platform in the wealth management sector, enhancing operational management capabilities[185]. Client and Market Engagement - The number of normal trading clients reached approximately 19.298 million, a year-on-year growth of 8.68%, with managed client assets totaling 4.27 trillion yuan, up 14.78%[90]. - The average monthly active users (MAU) of the company's app ranked 5th among securities firms, with the highest daily usage time per user[90]. - The company launched cross-border wealth management services in December 2024, enhancing its ability to meet global asset allocation needs[90]. Financial Performance Metrics - The wealth management and institutional business generated revenue of 10.233 billion yuan, accounting for 48.98% of total revenue, while investment banking and investment management contributed 858 million yuan and 924 million yuan, respectively[87]. - The investment banking segment saw a significant decline in revenue, down 33.75% to CNY 857.64 million, contributing 4.11% to total revenue[146][147]. - The investment and trading segment experienced a remarkable growth of 79.14%, with revenue reaching CNY 6.33 billion, representing 30.32% of total revenue[146][147].