Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 1,585,380,000, a decrease of 9.1% from RMB 1,744,483,000 in 2021[5]. - Total income and net investment income for the same period was RMB 1,586,889,000, down 36.5% from RMB 2,504,011,000 in 2021[5]. - The company reported a net loss attributable to owners of RMB (563,792,000) for the year, compared to a profit of RMB 1,624,362,000 in 2021[6]. - The pre-tax loss for the year was RMB (598,428,000), a significant decline from a profit of RMB 1,855,904,000 in the previous year[5]. - The company reported a total loss for the year of RMB 587,750,000, with a pre-tax loss of RMB 598,428,000[76]. - The company reported a net loss of RMB 587,750,000 for the year, compared to a profit of RMB 1,645,385,000 in the previous year[67]. - The company incurred operating expenses of RMB 354,860,000 across various segments, with significant costs in salaries and benefits[76]. - The company reported an operating loss of RMB 319.3 million in 2022, down from an operating profit of RMB 862.8 million in 2021[38]. Investment Management - The investment management business contributed 53% to the total revenue, with assets under management increasing to RMB 26.9 billion, primarily from new fundraising in USD and RMB funds[9]. - The company recorded a significant increase in realized carried interest income, amounting to RMB 400 million, which accounted for 47% of the investment management segment's revenue during the reporting period[9]. - The net investment loss in the investment management segment was RMB 70.3 million, compared to a gain of RMB 473.7 million in 2021[19]. - The investment management segment experienced a net loss of RMB 227,618,000, while the investment banking segment reported a loss of RMB 76,152,000[76]. - The investment management segment's unrealized equity income was reported at a negative RMB 424,313,000, highlighting the volatility in the investment landscape[1]. Investment Banking - The investment banking segment generated RMB 422.8 million in revenue, a decline of 61.6% from RMB 1.1 billion in 2021[12]. - Investment banking revenue and net investment income for the year ended December 31, 2022, was RMB 422.8 million, a decrease of 61.6% compared to RMB 1,100.7 million in 2021[16]. - Total transaction value in investment banking decreased by 81.5% to RMB 41.4 million from RMB 223.5 million in 2021[15]. - The company reported a segment operating loss of RMB 76.2 million in investment banking for the year ended December 31, 2022, compared to a profit of RMB 309.3 million in 2021[18]. Operating Expenses - Operating expenses totaled RMB (1,906,176,000), an increase of 16.2% from RMB (1,641,207,000) in 2021[5]. - Operating expenses rose by 16.1% from RMB 1,641.2 million in 2021 to RMB 1,906.2 million in 2022[37]. - Total operating expenses for the year ended December 31, 2022, amounted to RMB 354,860,000, a decrease from RMB 371,659,000 in 2021, with professional service fees decreasing from RMB 98,274,000 to RMB 77,155,000[90]. Assets and Liabilities - Total assets under management decreased to RMB 42.9 billion from RMB 48.9 billion in the previous year[21]. - Total assets decreased to RMB 13,004,633 thousand from RMB 14,164,166 thousand in 2021[68]. - Current liabilities rose to RMB 3,954,055 thousand, compared to RMB 4,457,356 thousand in the previous year[69]. - The company's equity attributable to owners decreased to RMB 6,367,598 thousand from RMB 6,826,032 thousand in 2021[69]. - The group recognized an impairment loss provision of RMB 351,223,000 for receivables as of December 31, 2022, compared to RMB 898,000 in 2021[121]. Governance and Compliance - The company has complied with all applicable corporate governance codes as per the listing rules, except for the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Bao Fan[58]. - The company has established an audit committee consisting of three independent non-executive directors, with Ms. Yao Jue as the chairperson[60]. - The company has established several other committees, including the nomination committee, remuneration committee, executive committee, and environmental, social, and governance committee[61]. Dividends and Shareholder Returns - The company did not declare a final dividend for the year ended December 31, 2022, while the total dividend paid for the previous year was RMB 201.1 million[55][56]. - The company declared a final dividend of RMB 201,114 thousand for the year ended December 31, 2022, compared to RMB 197,319 thousand in 2021[102]. Employee and Compensation - Total employee compensation expenses, including share-based payments, were RMB 827.1 million for the year ended December 31, 2022[51]. - The company employed a total of 754 full-time employees as of December 31, 2022, with 42% based in Beijing and 33% in Shanghai[53]. - The group’s payable for salaries, bonuses, and other benefits was RMB 459,404,000, down from RMB 712,435,000 in 2021, reflecting a decrease of 35.4%[126]. Debt and Financing - As of December 31, 2022, the company's bank borrowings amounted to RMB 2,115.0 million, with total credit facilities of RMB 5,073.4 million[47]. - The company's debt-to-asset ratio was 32.4% as of December 31, 2022, down from 35.3% as of December 31, 2021[48]. - The company has initiated repayment of syndicated loans in Q1 2023 to further reduce debt levels and financial costs[11].
华兴资本控股(01911) - 2022 - 年度业绩