CGWS(002939)2025-04-28 14:45Financial Performance - Total operating revenue for 2024 reached ¥4,020,172,277.70, a 0.73% increase from ¥3,991,223,756.79 in 2023[38] - Net profit attributable to shareholders increased by 9.82% to ¥1,579,705,498.18 in 2024 from ¥1,438,472,745.34 in 2023[38] - Basic earnings per share rose by 8.33% to ¥0.39 in 2024 compared to ¥0.36 in 2023[38] - Total assets as of the end of 2024 amounted to ¥123,255,771,604.91, reflecting a 6.58% increase from ¥115,642,457,784.90 in 2023[38] - Total liabilities increased by 7.15% to ¥92,766,165,420.93 in 2024 from ¥86,573,129,564.84 in 2023[38] - The weighted average return on equity improved to 5.38% in 2024, up 0.26 percentage points from 5.12% in 2023[38] - The company reported a significant cash flow from operating activities of ¥13,270,056,144.64 in 2024, a recovery from negative cash flow in the previous year[38] - Net profit for 2024 was ¥1,499,056,041.37, reflecting a growth of 12.44% from ¥1,333,197,662.34 in 2023[39] - Basic earnings per share increased to ¥0.37, up 12.12% from ¥0.33 in the previous year[39] Capital Structure and Shareholder Information - The company plans to distribute a cash dividend of 0.92 RMB per 10 shares to all shareholders, totaling approximately 3.71 billion RMB based on the total share capital of 4,034,426,956 shares[4] - The company’s registered capital stands at 4.03 billion RMB, reflecting its financial stability and capacity for growth[13] - The registered capital of the company increased from 206,700 million to 279,306.4815 million on November 30, 2015[30] - The company completed its initial public offering on October 26, 2018, with 310,340,536 shares listed on the Shenzhen Stock Exchange, raising the registered capital to 310,340.5351 million[30] - The company conducted a non-public offering of 931,021,605 shares on August 22, 2022, increasing the registered capital to 403,442.6956 million[30] - The company has not experienced any changes in its controlling shareholders since its establishment[17] Business Operations and Services - The company has expanded its securities business scope to include securities brokerage, investment consulting, financial advisory related to securities transactions, underwriting and sponsorship, proprietary trading, margin financing and securities lending, public securities investment fund sales, and fund custody services[17] - The company holds various qualifications for brokerage services, including membership in both the Shanghai and Shenzhen Stock Exchanges, and has been authorized for margin financing and securities lending by the China Securities Regulatory Commission[19] - The company holds various qualifications for investment banking, asset management, and OTC business, approved by relevant regulatory bodies[22][24][26] - The company has multiple subsidiaries with qualifications in private equity fund management and securities business[27][28] - The company operates a total of 111 securities business departments across various regions[36] - The company has established 16 domestic branches with no overseas branches as of the end of 2024[33] Risk Management - The company acknowledges potential risks including market risk, credit risk, liquidity risk, operational risk, and compliance risk, which may significantly impact its business and financial performance[4] - The company maintains a strong risk control and compliance framework, ensuring stable operations and high-quality development[60] - The liquidity risk management framework includes setting liquidity risk limits and conducting regular assessments to ensure sufficient cash flow under normal and stressed conditions[126] - The company plans to enhance its operational risk management by refining business processes and implementing a closed-loop management mechanism[128] Strategic Initiatives and Future Plans - The company plans to enhance its investment banking services focusing on strategic emerging industries and high-tech sectors to support new quality productivity[50] - The launch of "Cross-border Wealth Management Connect 2.0" is expected to strengthen the company's international expansion efforts[50] - The company aims to strengthen its investment banking business by focusing on regional and industry-specific strategies in 2025[67] - The company plans to enhance its digital transformation and optimize its wealth management platform in 2025[65] - The company is committed to integrating financial services with real economy needs, emphasizing responsibility and value[119] Governance and Compliance - The company has established a governance structure that includes a general meeting of shareholders, a board of directors, and a supervisory board, ensuring clear responsibilities and coordination[134] - The company actively considers independent directors' opinions on significant matters affecting minority shareholders[135] - The board of directors consists of 12 members, including 8 non-independent directors and 4 independent directors, with a term of 3 years for each director[138] - The company has established 7 specialized committees to enhance decision-making professionalism and compliance[146] - The company disclosed a total of 191 announcements during the reporting period, ensuring transparency and compliance with information disclosure regulations[149] Management Changes - The company reported a resignation letter from Wang Zhangwei on August 23, 2024, due to work adjustments, and he officially left the board on November 15, 2024[159] - Ma Boyin also submitted his resignation on August 23, 2024, and officially left the supervisory board on November 15, 2024[160] - Wu Lixin resigned as the board secretary on April 9, 2024, and will continue to serve as chairman in several subsidiaries[160] - The company is expanding its leadership team with new appointments, including two vice chairpersons and several new directors elected on June 28, 2024[163] - The company is focusing on strategic adjustments in its management structure to enhance operational efficiency[162] Investor Relations - The company engaged with investors through 89 inquiries on the "Interactive Easy" platform and provided responses via a dedicated consultation phone and email[132] - The company emphasized its commitment to high-quality development and investor value sharing in its future outlook[133] - The company held its annual general meeting with an investor participation rate of 69.6456% on June 26, 2024[157]