FCSC(SZ:002797)2025-04-25 12:15Financial Performance - Total revenue for 2024 reached ¥3,531,605,346.33, an increase of 41.91% compared to ¥2,488,689,449.42 in 2023[34]. - Net profit attributable to shareholders was ¥903,629,183.85, representing a significant increase of 173.28% from ¥330,655,551.54 in the previous year[34]. - The net profit after deducting non-recurring gains and losses was ¥896,298,335.02, up 177.83% from ¥322,610,853.27 in 2023[34]. - The company generated operating cash flow of ¥4,580,359,959.06, a 26.42% increase from ¥3,623,216,628.00 in the previous year[34]. - Basic earnings per share rose to ¥0.22, reflecting a 175.00% increase from ¥0.08 in 2023[35]. - Total assets increased by 16.48% to ¥52,742,456,894.57 from ¥45,281,204,701.96 in 2023[35]. - Total liabilities grew by 19.82% to ¥35,930,378,034.76 compared to ¥29,988,124,647.91 in the previous year[35]. - The weighted average return on equity increased to 5.80%, up 3.55 percentage points from 2.25% in 2023[35]. - Total revenue for the first quarter was ¥673.43 million, increasing to ¥1,130.52 million by the fourth quarter, representing a growth of approximately 67.9%[37]. - Net profit attributable to shareholders rose from ¥143.20 million in the first quarter to ¥262.52 million in the fourth quarter, marking an increase of about 83.6%[37]. Capital Structure and Growth - The company reported a total registered capital of 4.2024 billion RMB and a net capital of 10.513 billion RMB[15]. - The company completed its initial public offering in May 2016, issuing 21.9 million shares, increasing its registered capital from CNY 1.97 billion to CNY 2.189 billion[26]. - In July 2020, the company conducted a non-public offering of 700 million shares, raising its registered capital from CNY 3.5024 billion to CNY 4.2024 billion[26]. - The company underwent multiple capital increases, with registered capital rising from CNY 1 billion in 1993 to CNY 4.2024 billion by 2020, reflecting significant growth over the years[25][26]. - The company has consistently increased its capital through various rounds of financing, demonstrating strong investor confidence and market positioning[26]. Risk Management - The company emphasizes the importance of risk management and internal control systems to ensure stable and sustainable business development[6]. - The company faces significant risks due to the cyclical nature of the securities industry, which can lead to substantial fluctuations in operating performance[5]. - The company has a comprehensive risk management framework to address market, credit, operational, liquidity, reputational, and money laundering risks[5]. - The risk coverage ratio improved to 224.67% in 2024, up from 215.28% in 2023, reflecting enhanced risk management capabilities[41]. - The company has implemented a comprehensive risk prevention framework, including stricter delisting regulations and enhanced disclosure requirements for major shareholders[49]. Business Operations and Services - The company has not changed its main business since its listing, maintaining a focus on securities and futures operations[18]. - The company has a total of 57 branches, all holding the necessary licenses issued by the China Securities Regulatory Commission[19]. - The company is a member of the national interbank lending market and has qualifications for various financial services, including asset management and bond underwriting[20]. - The company has a comprehensive qualification portfolio that supports its strategic goals in market expansion and service diversification[21][23]. - The company has established a strong presence in the interbank bond market, with qualifications for self-owned fund investments approved by the People's Bank of China[23]. - The company is actively participating in the development of new financial technologies and services, positioning itself for future growth in the financial sector[22][24]. - The company has established a green finance framework to guide capital towards renewable energy and low-carbon technologies, promoting sustainable development[48]. - The company has a comprehensive range of financial services, including asset management, fixed income, investment banking, and alternative investments, positioning it as a leading integrated securities firm[51]. Corporate Governance - The company has established a robust corporate governance structure, ensuring independent operation and mutual checks among the shareholders' meeting, board of directors, supervisory board, and management[27]. - The company has a diverse organizational structure, with a focus on compliance with relevant laws and regulations, ensuring operational integrity[27]. - The company emphasizes the protection of minority shareholders' rights and interests through transparent communication and governance practices[191]. - The board of directors consists of 9 members, including 3 independent directors, and held 6 meetings to make decisions on significant matters, maintaining compliance with legal and regulatory requirements[193]. - The supervisory board, composed of 5 members, held 5 meetings during the reporting period, effectively overseeing the legality and compliance of the board and management's actions[194]. Market Trends and Industry Outlook - The securities industry is experiencing increased competition in brokerage services, with a focus on wealth management transformation and differentiated institutional services[44]. - The A-share market saw a significant recovery with the Shanghai Composite Index rising by 12.67% and the Shenzhen Component Index increasing by 9.34% in 2024[45]. - The company is actively pursuing market opportunities and adapting to regulatory changes to support high-quality development in the securities industry[46]. - The company aims to enhance its trading-driven transformation strategy and become a leading bond trading service provider in China[96]. - The application of artificial intelligence in the securities industry is anticipated to drive high-quality development and improve service efficiency across various business scenarios[180]. Future Strategies - The company aims to maintain strategic focus and enhance core competitiveness by prioritizing customer-centric services and developing a unique operational model[59]. - The company plans to strengthen its investment research capabilities and improve market assessment and pricing abilities[96]. - The company will continue to focus on providing high-quality financial services and enhancing investor experience in 2025[87]. - The company plans to implement a "Quality Return Dual Improvement" action plan, focusing on enhancing service quality for the real economy and promoting sustainable development[186]. - In 2025, the company aims to enhance its comprehensive financial service capabilities, focusing on customer-centric strategies and strengthening client service capabilities[181].