SINOLINK SECURITIES(SH:600109)2023-04-25 16:00Financial Performance - The total operating revenue for 2022 was ¥5,733,079,420.05, a decrease of 21.04% compared to ¥7,260,828,394.10 in 2021[40]. - The net profit attributable to shareholders of the parent company was ¥1,198,294,039.81, down 48.28% from ¥2,316,760,799.43 in the previous year[40]. - The basic earnings per share for 2022 was ¥0.343, representing a decline of 55.22% from ¥0.766 in 2021[41]. - The total assets at the end of 2022 reached ¥102,180,479,055.02, an increase of 15.47% from ¥88,489,493,016.22 in 2021[40]. - Total liabilities rose by 10.92% to CNY 70.85 billion compared to CNY 63.87 billion in the previous year[51]. - Net profit attributable to shareholders decreased by 48.28% to CNY 1.20 billion from CNY 2.32 billion year-on-year[51]. - Operating revenue declined by 21.04% to CNY 5.73 billion from CNY 7.26 billion in the previous year[51]. - The company's cash flow from operating activities was CNY 6.66 billion, a significant improvement from a negative CNY 3.60 billion in the previous year[52]. Capital and Investment - As of the end of 2022, the registered capital of Sinolink Securities reached CNY 3,724,359,310, an increase from CNY 3,024,359,310 at the end of the previous year[17]. - The net capital of the company was CNY 24,056,951,187.49, compared to CNY 21,010,428,699.59 at the end of the previous year, reflecting a growth of approximately 14.5%[17]. - The company issued A-share convertible bonds totaling RMB 2.5 billion in May 2014, which were fully redeemed by December 2014[34]. - The company has established several subsidiaries, including Sinolink Futures and Sinolink Fund Management, to diversify its service portfolio[4]. - The company completed the acquisition of 51% of Guojin Fund Management Co., Ltd. in October 2022, consolidating it into the company's financial statements[42]. Market Presence and Operations - Sinolink Securities operates over 70 securities business departments across 24 provinces and municipalities in China, indicating a broad market presence[4]. - The company has a workforce of over 5,000 employees, supporting its extensive operations and service offerings[4]. - The company has established a new securities business department in Xi'an, which officially opened in January 2023, and two additional departments in Guangzhou and Beijing, also opening in March 2023[159]. - The company aims to enhance its comprehensive financial services for high-growth enterprises, positioning itself as a financial advisor for clients[5]. - The company has been granted qualifications for various financial services, including futures trading and asset management[19]. Risk Management and Compliance - The company emphasizes compliance and risk management, acknowledging potential impacts from macroeconomic conditions and regulatory changes[10]. - The company has established a comprehensive risk management system, including various risk management policies and procedures, to ensure effective risk control[177]. - The company has implemented measures to manage credit risk, ensuring that financial assets are held with reputable banks and that collateral is sufficient for financing transactions[175]. - The company has successfully conducted anti-money laundering and anti-terrorist financing measures, effectively controlling internal and external money laundering risks[175]. - The company has developed a risk management organizational structure with the board of directors overseeing comprehensive risk management and establishing a risk control committee[177]. Wealth Management and Client Services - The company's wealth management services improved efficiency and quality, enhancing integrated operational capabilities[56]. - The wealth management business saw a 26% increase in the number of clients compared to the end of 2021, while total client assets remained stable[75]. - The company launched innovative products such as shadow accounts and segment trading strategies, enhancing its digital transformation in wealth management[73]. - The company aims to strengthen its full lifecycle service capabilities, focusing on customer-centric agile team development[73]. - The company plans to enhance digital and intelligent investments in wealth management, focusing on personalized and data-driven services[81]. Governance and Management - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring transparency for investors[6]. - The company has established a comprehensive insider information management system, with no reported insider trading incidents during the year[194]. - The management team comprises 11 senior executives, including a general manager and 7 deputy general managers, ensuring effective daily operations[193]. - The company held 2 shareholder meetings during the reporting period, ensuring compliance with legal procedures and protecting the rights of minority shareholders[189]. - The company has a robust governance structure in place, continuously improving its operational compliance and management practices[196].