Dividend and Capital Structure - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares, totaling RMB 1,274,496,793.80, which accounts for 42.33% of the net profit attributable to the parent company in 2022[3]. - The total share capital at the end of 2022 was 8,496,645,292 shares[3]. - The registered capital at the end of the reporting period was RMB 8,496,645,292, an increase from RMB 6,993,655,803 at the end of the previous year[16]. - The company’s registered capital increased from RMB 2,139,791,800 to RMB 3,079,853,836 after a rights issue in May 2007, representing a 43.9% increase[29]. - The company's registered capital further rose to RMB 4,281,742,921 following a rights issue approved in November 2011[30]. - The company was listed on the Shanghai Stock Exchange in March 2015, with a registered capital of RMB 5,281,742,921[30]. - The company completed a non-public offering of A-shares totaling 778,203,792 shares, increasing its registered capital from RMB 6,215,452,011 to RMB 6,993,655,803[32]. - In May 2022, the company completed an A+H share offering, with 1,502,907,061 A-shares and 82,428 H-shares issued, raising its registered capital to RMB 8,496,645,292[33]. Financial Performance - The net profit attributable to shareholders was RMB 3,010,558, down 43.95% from RMB 5,371,496 in the previous year[41]. - The basic earnings per share decreased by 51.39% to RMB 0.35 from RMB 0.72 in the previous year[42]. - Total revenue for 2022 was RMB 23,107 million, a decrease from RMB 28,563 million in 2021, representing a decline of approximately 19.5%[43]. - Total expenses for 2022 were RMB 20,395 million, down from RMB 23,700 million in 2021, indicating a reduction of about 13.0%[43]. - Profit before tax for 2022 was RMB 3,378 million, compared to RMB 6,307 million in 2021, reflecting a decrease of approximately 46.5%[43]. - The return on equity for 2022 was 4.16%, significantly lower than 9.02% in 2021, reflecting a decline of about 53.8%[45]. - The company reported a total revenue of RMB 23.11 billion, a decrease of RMB 5.45 billion or 19.10% year-on-year, primarily due to reduced investment income and lower fees from asset management and commodity sales[159]. Risk Management - The company has implemented a comprehensive risk management system to address various risks, including market, credit, and liquidity risks[7]. - The company emphasizes that its business is influenced by macroeconomic conditions, including monetary policy and market trends[6]. - The company has established a mechanism for evaluating and reviewing innovative business risks, ensuring compliance and effective risk management throughout the process[193]. - The company actively monitors risk control indicators and takes corrective measures when warning thresholds are approached, including adjusting investment structures and utilizing hedging tools[197]. - The company has developed a comprehensive risk management system that incorporates innovative business activities, ensuring stable and manageable growth[194]. Business Operations and Strategy - The company operates in the securities business and securities investment consulting, as approved by the registration authority[16]. - The company is actively developing new technologies, including a digital trading platform expected to launch in Q3 2023[20]. - Market expansion efforts include entering the Hong Kong market, with plans to establish a local office by the end of 2023[21]. - The company is focusing on enhancing its customer service through the implementation of AI-driven support systems[20]. - The company is committed to improving its wealth management services and enhancing its professional capabilities in response to rising resident financial management needs[54]. - The company primarily engages in five major business areas: investment management, brokerage and securities finance, securities sales and trading, investment banking, and management headquarters and other businesses[57][58][61][63][64]. Regulatory Compliance - The company has not faced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - The company has not provided any guarantees in violation of regulatory decision-making procedures during the reporting period[5]. - The company has not encountered any issues with directors being unable to ensure the authenticity, accuracy, and completeness of the annual report[5]. - The financial report for 2022 was audited by Deloitte Huayong and Deloitte Guan Huang Chen Fang, both providing standard unqualified opinions[2]. Market Position and Growth - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active accounts[20]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by market expansion and new product launches[21]. - The company has established a strong focus on high-net-worth client services and family trust business, collaborating closely with over 10 leading trust companies[101]. - The company has received multiple awards for its wealth management services, including the "Best Fund Advisory Institution" and "Comprehensive Strength Securities Firm" awards[103]. - The company ranked second in net capital and third in net profit, operating profit, commission income, operating income, and customer equity among the industry leaders[106]. Subsidiaries and Investments - The company has established a wholly-owned subsidiary for asset management, approved by the CSRC[17]. - The company has a fully owned subsidiary, Shanghai Dongzheng Futures Co., Ltd., with a registered capital of RMB 3,800,000,000[37]. - The company’s subsidiary, Shanghai Dongfang Securities Capital Investment Co., Ltd., has a registered capital of RMB 4,000,000,000[37]. - The company’s subsidiary, Shanghai Dongfang Securities Asset Management Co., Ltd., has a registered capital of RMB 300,000,000[38]. - The company’s subsidiary, Shanghai Dongfang Securities Innovation Investment Co., Ltd., has a registered capital of RMB 7,200,000,000[38]. Awards and Recognition - The company received 41 industry awards, including the "Top Company Award" from Shanghai Securities Journal and the "Five-Year Golden Bull Fund Manager Award" from China Securities Journal[87]. - The company maintained an MSCI ESG rating of A for two consecutive years, the highest rating among publicly rated Chinese securities firms[68]. - The company received multiple awards, including "Core Trader" and "Bond Market Trader" from the China Foreign Exchange Trading Center, highlighting its strong market position[121]. - The company was recognized as one of the top ten merger service institutions in 2022 by Tianxin M&A List[144]. Digital Transformation and Innovation - The company is advancing its digital transformation strategy to drive high-quality development, focusing on integrating financial technology into its operations[153]. - The company has received several awards for its projects related to digital empowerment and risk management, highlighting its commitment to innovation[156]. - The company led several innovative projects, including the "Digital RMB Innovation Pilot Project" and "Integrated Industry Solutions Based on Cloud Services," which were recognized as the first batch of pilot projects for financial technology innovation in the capital market[191].
东方证券(03958) - 2022 - 年度财报