SINOLINK SECURITIES(SH:600109)2020-04-01 16:00Financial Performance - The total operating revenue for 2019 was CNY 4,349,514,734, representing a 15.49% increase from CNY 3,766,119,304.82 in 2018[35]. - The net profit attributable to shareholders of the parent company reached CNY 1,298,539,701.33, up 28.51% from CNY 1,010,492,527.44 in the previous year[35]. - The total assets increased by 7.46% to CNY 50,151,031,164.73 from CNY 46,667,401,967.04 at the end of 2018[35]. - The basic earnings per share for 2019 was CNY 0.429, reflecting a 28.44% increase from CNY 0.334 in 2018[36]. - The total liabilities increased by 8.32% to CNY 29,362,617,956.88 from CNY 27,106,523,520.01 at the end of 2018[35]. - The company reported a significant increase in lending funds by 47.75% to CNY 9,178,386,106.25 in 2019 from CNY 6,212,306,528.79 in 2018[45]. - The company achieved a net profit of 1,230.95 billion yuan in 2019, with 120 out of 133 securities firms reporting profitability[53]. Capital Structure and Dividends - The company plans to distribute a cash dividend of RMB 0.50 per 10 shares, totaling RMB 151,217,965.50, based on a total share capital of 3,024,359,310 shares as of December 31, 2019[3]. - The registered capital remains at RMB 3,024,359,310.00, unchanged from the previous year[10]. - The cash dividend for the fiscal year 2018 was RMB 0.40 per 10 shares, amounting to RMB 120,974,372.40, representing 11.97% of the net profit attributable to ordinary shareholders[121]. - The company has established a three-year shareholder return plan (2018-2020) to ensure stable and continuous returns to investors[119]. Risk Management - The company has established a comprehensive risk management system, including various risk management policies and procedures[107]. - The company actively tracks monetary policy and market interest rate trends to manage interest rate risks effectively[110]. - The company has effectively controlled money laundering and terrorist financing risks, with no significant incidents reported during the year[106]. - The company promotes a risk management culture, encouraging participation from all employees and facilitating communication[109]. - The company has implemented liquidity risk management measures, including monitoring liquidity coverage ratios and net stable funding ratios[109]. Business Operations and Strategy - The company has a comprehensive range of business qualifications, including securities brokerage, investment consulting, and asset management, among others[10]. - The company is focused on expanding its operational capabilities through the establishment of new branches[33]. - The company is committed to maintaining a strong financial position with significant operating capital across its branches[33]. - The company is actively pursuing new investment opportunities and partnerships to enhance its service offerings and market reach[189]. - The company plans to leverage its research and consulting capabilities to drive its brokerage and investment banking businesses in 2020[100]. Corporate Governance - The company’s governance structure and organizational framework are in place to support its operational efficiency and strategic objectives[28]. - The management team includes key figures such as the Chairman, who has extensive experience in the financial sector, and the CEO, who has held various leadership roles in the company[189]. - The board of directors includes independent members with diverse backgrounds, contributing to robust governance practices[189]. - The company is committed to maintaining transparency and accountability in its financial reporting and management practices[188]. Social Responsibility and Community Engagement - In 2019, Guojin Securities participated in the sale of 600 million yuan in targeted debt financing tools for Akesu Green Industry Development Co., aimed at water-saving irrigation projects[168]. - The company has allocated approximately RMB 2.3 million for annual health check-ups for disabled students, totaling RMB 20.55 million over the entire compulsory education period[154]. - The company received a "Poverty Alleviation Honor Certificate" from the China Securities Association and the China Poverty Alleviation Foundation[163]. - The company plans to enhance its poverty alleviation efforts in 2020, focusing on targeted assistance and regional development[164]. Market Position and Competitive Landscape - The company’s main business is significantly affected by macroeconomic conditions, regulatory policy adjustments, and fluctuations in the securities market, which are detailed in the risk disclosures[5]. - The trend of increasing concentration in the securities industry is evident, with leading firms gaining more competitive advantages in profitability[98]. - The company is actively participating in the capital market's opening-up, which is expected to attract significant foreign investment[98]. Audit and Compliance - The company’s financial report has been audited by Tianjian Certified Public Accountants, which issued a standard unqualified opinion[2]. - The company appointed Tianjian Accounting Firm as the financial and internal control auditor for 2019, with total audit fees amounting to RMB 800,000[128]. - The company has implemented a third-party custody system for all new accounts and compliant accounts, enhancing account management mechanisms[117].