2025-09-11 08:00Financial Performance - Revenue and other income for the first half of 2025 reached RMB 7,480,828,000, representing a 17.67% increase compared to RMB 6,357,645,000 in the same period of 2024[20]. - Profit before tax increased by 29.74% to RMB 2,039,905,000 from RMB 1,572,294,000 year-on-year[20]. - Net profit attributable to shareholders rose by 21.03% to RMB 1,682,932,000 compared to RMB 1,390,527,000 in the previous year[20]. - Basic and diluted earnings per share increased by 23.08% to RMB 0.32 from RMB 0.26[20]. - Total assets as of June 30, 2025, amounted to RMB 295,116,777,000, a 0.74% increase from RMB 292,959,018,000 at the end of 2024[20]. - Total liabilities increased by 0.62% to RMB 225,127,020,000 from RMB 223,735,548,000[20]. - The company's net capital as of June 30, 2025, was RMB 43,215,622,617.49, down from RMB 45,572,211,225.65 at the end of 2024[22]. - The liquidity coverage ratio improved to 237.43% from 216.14%[22]. - The company achieved total revenue and other income of RMB 7.48 billion, an increase of 18% year-on-year[31]. - The net profit attributable to shareholders reached RMB 1.68 billion, reflecting a year-on-year increase of 21%[31]. Risk Management - The company maintains a robust risk management framework to address various operational risks and ensure sustainable business development[116]. - The risk management structure includes a four-tier organization, with the board of directors ultimately responsible for comprehensive risk management[117]. - The company has established a multi-level risk limit system for market risk, including risk tolerance and business risk limits, to manage potential losses effectively[121]. - Credit risk management includes internal credit ratings, unified credit management, and close monitoring of bond issuers' operational conditions[124]. - The company has implemented a liquidity risk management framework, ensuring overall liquidity risk is controllable through centralized management of short-term financing tools[126]. - A liquidity risk emergency plan has been developed, outlining levels, trigger standards, and response measures to prevent liquidity risk[127]. - The company employs a proactive management approach to operational risk, enhancing internal controls and risk awareness among all employees[125]. - Stress testing is a key component of the company's market risk management, assessing potential losses under pressure scenarios[121]. Compliance and Governance - The company has complied with the corporate governance code and met the majority of the best practice recommendations during the reporting period[192]. - Since 2025, the company's compliance management has been stable and orderly, with no major compliance risk events or regulatory penalties reported[133]. - The company has implemented a compliance management system that includes pre-approval, monitoring, and post-check mechanisms to mitigate compliance risks[132]. - The company has integrated compliance culture into its corporate culture to promote adherence to compliance management principles[133]. - The audit and related party transaction control committee has reviewed and confirmed the interim financial information without raising objections to the accounting policies adopted by the company[191]. Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.095 per 10 shares to all A-share and H-share shareholders, totaling RMB 504,881,246.47[4]. - The proposed cash dividend for 2024 is RMB 918,007,818.92, with a distribution of RMB 1.086 per 10 shares for A and H shareholders[149]. - The cash dividend ratio remained above 30%, enhancing shareholder value and investor confidence[155]. Business Development and Strategy - The company aims to enhance its wealth management business and expand its high-net-worth client base in the second half of 2025[43]. - The company plans to enhance its institutional trading services and expand its client coverage in the second half of 2025, focusing on technology-driven efficiency improvements[62]. - The company aims to deepen cooperation with investment institutions and expand business channels in the second half of 2025, particularly in debt financing and brand project development[53]. - The company plans to increase bond investments in strategic areas such as technological innovation and green finance in the second half of 2025[68]. - The company aims to enhance its investment management capabilities and diversify its product offerings to meet wealth management needs in the second half of 2025[75]. Customer and Market Growth - The total number of customers reached 6.87 million, a 6% increase compared to the end of the previous year[36]. - New account openings totaled 435,000, representing a 49% year-on-year growth[36]. - The total customer assets amounted to RMB 14.6 trillion, a 7% increase from the end of the previous year[36]. - The A-share market saw a total trading volume of RMB 163 trillion in the first half of 2025, a 60% increase year-on-year[35]. Legal Matters - The company is involved in a lawsuit regarding a breach of purchase agreement, with a claim amount of approximately 835 million CNY[194]. - The company has initiated litigation related to equity transfer disputes, with a claim amount of approximately 114.03 million CNY[197]. - A lawsuit concerning investment contract disputes has been filed, with a claim amount of approximately 29.15 million CNY[197]. - The company is facing arbitration related to labor disputes, with a claim amount of approximately 17.52 million CNY[197]. - A financing agreement dispute has led to litigation with a claim amount of approximately 10 million USD[198]. - The company has filed lawsuits related to margin trading disputes, with a total claim amount of approximately 435 million CNY across fourteen cases[199].