ZJOFHC(SH:600120)2025-04-24 14:45Financial Performance - Total operating revenue for 2024 was CNY 8,195,936,778.95, a decrease of 49.44% compared to CNY 16,211,474,305.53 in 2023[21] - Net profit attributable to shareholders for 2024 reached CNY 936,338,938.13, an increase of 74.84% from CNY 535,531,885.42 in 2023[21] - The company reported a significant decline in operating income, which was CNY 7,458,537,654.90, down 51.70% from CNY 15,441,635,743.92 in 2023[21] - The net profit after deducting non-recurring gains and losses was CNY 260,236,430.96, down 49.36% from CNY 513,922,361.25 in 2023[21] - Basic earnings per share rose to 0.28 CNY, a 75.00% increase from 0.16 CNY in 2023[23] - The net profit attributable to shareholders increased by 75.00% compared to the previous year, reaching 1,000,000,000 CNY[24] - The net profit attributable to shareholders for the fourth quarter was 529,863,373.31 CNY[26] - The company achieved a net profit of 1,021 million, successfully turning a profit after losses, with a year-on-year growth of 34.7% in original premium income to 3.207 billion[36] Dividends and Share Capital - The company plans to distribute a cash dividend of CNY 0.84 per 10 shares, totaling CNY 281,152,694.84, subject to shareholder approval[4] - The company does not plan to increase capital reserves or issue bonus shares for the current year[4] - The total share capital as of December 31, 2024, was 3,347,055,891 shares after accounting for repurchased shares[4] - The cash dividend amount represents 30.03% of the net profit attributable to ordinary shareholders, which was CNY 936,338,938.13[133] - Over the last three fiscal years, the cumulative cash dividend amounted to CNY 745,097,074.39, with an average cash dividend ratio of 94.39%[135] - The company has maintained a consistent cash dividend policy, with no adjustments made during the reporting period[130] Assets and Liabilities - Total assets increased by 22.14% year-on-year, amounting to 48,153,548,395.89 CNY[22] - The company's total assets reached 134.91 billion yuan in 2024, reflecting a 5.0% increase compared to the previous year[42] - Total liabilities increased by 32.34% to ¥6,304,787,433.08 from ¥4,764,214,484.46, driven by an increase in client margin deposits[72] - Insurance contract liabilities rose by 52.81% to ¥10,816,066,658.60 from ¥7,078,211,924.42, reflecting an increase in existing insurance contracts and reserves[72] Investment and Financing Activities - The company acquired a 3.24% stake in Hangzhou United Rural Commercial Bank, generating an extraordinary income of 66,017,230 CNY[24] - The company’s financing model has diversified, issuing a total of 3 phases of corporate bonds amounting to 3 billion, with the first phase at a record low interest rate in the province[33] - The company issued bonds totaling CNY 11 billion at an interest rate of 2.25% on October 21, 2024, with a maturity date of October 23, 2027[181] - The company also issued bonds totaling CNY 4 billion at an interest rate of 2.23% on July 26, 2024, maturing on July 30, 2029[181] Risk Management and Compliance - The company has no significant risks affecting normal operations during the reporting period[7] - The audit report for the financial statements was issued without reservation by Lixin Certified Public Accountants[3] - The company has established a sound governance structure and mechanism, ensuring compliance with legal and regulatory requirements without significant discrepancies[98] - The company has implemented a mechanism for information disclosure that emphasizes timeliness, accuracy, and completeness, adhering to relevant regulations[98] Corporate Governance - The company held its annual general meeting on May 20, 2024, where 16 resolutions were passed without any objections[99] - The company has a diverse board with independent directors receiving a total of 45.00 million yuan in remuneration collectively[103] - The company’s independent directors play a crucial role in decision-making and supervision, leveraging their expertise in internal control and financial management[98] - The company has established a leadership group for energy conservation and emission reduction, implementing responsibility agreements with subsidiaries to ensure accountability in energy-saving measures[145] Strategic Initiatives and Future Outlook - The company plans to continue its market expansion and investment strategy in the financial sector, focusing on long-term equity investments[86] - The company aims to build a high-quality financial holding group with comprehensive financial aggregation and investment management innovation capabilities, focusing on "large asset management" as its core[89] - By 2025, the company plans to enhance its development quality and efficiency, aligning with national and provincial strategies while promoting bank acquisitions and expanding financial licenses[90] - The company is focusing on digital transformation and risk control to achieve high-quality development in the financing leasing sector[45] Social Responsibility and Sustainability - The company has committed CNY 2.3709414 billion to poverty alleviation and rural revitalization projects, benefiting approximately 43,000 people[151] - The company has conducted various public welfare activities, with a total investment of CNY 56.37 million, benefiting over 15,000 individuals[148] - The company has actively engaged in green culture promotion, setting the 12th of each month as "Zhejiang Oriental Low Carbon Day" to encourage employees to adopt low-carbon practices[146] - Dongfang Jiafu Life Insurance has integrated ESG investment concepts into its decision-making, with a green finance investment balance of CNY 780 million by the end of the reporting period[142]