TF Securities(SH:601162)2021-04-27 16:00Capital and Financial Performance - The registered capital of Tianfeng Securities increased to CNY 6,665,967,280.00 at the end of the reporting period, up from CNY 5,180,000,000.00 at the end of the previous year, representing a growth of approximately 28.7%[15]. - The net capital of the company reached CNY 9,840,771,799.18, an increase from CNY 8,751,580,558.96, reflecting a growth of about 12.4%[15]. - The company completed a rights issue of 1,554,000,000 new shares, increasing its registered capital from 518,000 million to 666,596.73 million RMB[27]. - The company reported a total revenue of 10 billion RMB for the fiscal year 2020, representing a year-over-year growth of 15%[32]. - The company provided guidance for the next fiscal year, projecting a revenue increase of 20% to reach approximately 12 billion RMB[32]. - The company reported a net profit margin of 12%, an improvement from 10% in the previous year, reflecting better cost management[32]. - The company reported a net profit attributable to shareholders of the parent company reached approximately ¥454.87 million, a significant increase of 47.80% from ¥307.77 million in 2019[41]. - The company's total assets at the end of 2020 amounted to approximately ¥81.41 billion, reflecting a 35.86% increase from ¥59.92 billion at the end of 2019[41]. - The company's total revenue for 2020 reached ¥4,359,629,544.39, representing a 13.35% increase compared to ¥3,846,100,730.48 in 2019[53]. - The company's total equity attributable to shareholders of the parent company increased by 44.02% to ¥17,460,091,857.72 from ¥12,123,150,062.81 in 2019[53]. Risk Management and Compliance - Tianfeng Securities has not identified any significant risk events during the reporting period, indicating a stable operational environment[8]. - The company has outlined potential risks in its report, emphasizing the importance of comprehensive risk management and compliance measures[8]. - The company faces various risks including market risk, credit risk, operational risk, liquidity risk, reputation risk, compliance and legal risk, and anti-money laundering risk[120][121][122][123][124][125][126][127]. - The company has established a comprehensive risk management framework aligned with its business strategy and risk appetite, covering all departments and subsidiaries[129]. - The company ensures credit risk management by maintaining a balance between safety, liquidity, and profitability in its operations[133]. - The company has established a comprehensive reputation risk management system, monitoring potential risks and assessing their impact on business and financial status[137]. - The compliance and legal risk management departments are responsible for ensuring the company's operations adhere to legal and regulatory requirements, including new business and product compliance reviews[138]. Business Expansion and Strategy - The company is focused on expanding its market presence and enhancing its service offerings through strategic initiatives and regulatory compliance[16]. - The company has established a total of 106 securities business departments across various regions[31]. - The company is investing 500 million RMB in R&D for new technologies aimed at enhancing user experience and operational efficiency[32]. - Market expansion efforts are underway, with plans to enter three new provinces by the end of 2021, targeting an additional 2 million users[33]. - The company aims to strengthen its investment banking capabilities by focusing on high-quality projects and enhancing collaboration with local branches in key regions[118]. - The company is committed to expanding its asset management business by increasing the proportion of equity products and applying for public fund management qualifications[118]. Corporate Governance - The company operates under a structured governance framework, with a board of directors and several specialized committees[28]. - The company has committed to ensuring the accuracy and completeness of its financial reports, with all board members present at the meeting to guarantee this[7]. - The company has not violated any decision-making procedures regarding external guarantees, ensuring compliance with regulations[7]. Shareholder and Profit Distribution - The company plans to proceed with a non-public issuance of A-shares, which will affect the profit distribution plan for the 2020 fiscal year, as no profit distribution will occur until after the issuance is completed[5]. - The company has not proposed a cash profit distribution plan for the reporting period, citing the ongoing non-public issuance of A-shares as the reason[148]. - In 2020, the company did not distribute any cash dividends, while in 2019 and 2018, it distributed 0.06 and 0.07 RMB per share respectively, representing 13.00% and 11.97% of the net profit attributable to ordinary shareholders[146]. Social Responsibility and Community Engagement - The company has established financial poverty alleviation workstations in impoverished areas to support local enterprises[179]. - The company has implemented a "war against poverty" initiative, providing aid packages to families affected by the pandemic[184]. - The company has launched a new poverty alleviation product tailored to specific local conditions[185]. - The company has set up a charity foundation to enhance public welfare efforts in impoverished regions[183]. - The company has been actively involved in educational support for impoverished students through scholarships and mentorship programs[183]. - The company aims to consolidate poverty alleviation achievements in counties that have been lifted out of poverty within three years[181]. Legal Matters and Disputes - The company is involved in a loan contract dispute with Fang Jincheng, claiming a principal amount of RMB 241,914,200.75 and associated interest and penalties[164]. - The court ruled in favor of the company, requiring Fang Jincheng to pay the principal and interest, with a total interest amount of RMB 2,707,636.05 for the period from March 21, 2018, to August 12, 2018[164]. - The company has completed payment obligations related to a labor arbitration case with Guo Min, totaling RMB 342,336 for economic compensation[165]. - The Shanghai court ruled that the company must pay Guo Min an additional RMB 64,055 as a year-end bonus and RMB 15,757.43 for unpaid annual leave[166]. - The company has maintained compliance with regulatory requirements and has no significant risks reported[161]. Environmental Responsibility - The company has disclosed its environmental responsibility performance in its 2020 Environmental, Social, and Governance report available on the Shanghai Stock Exchange and its official website[197]. - The company is not classified as a key pollutant discharge unit, and thus does not have specific environmental information disclosures applicable to such units[198].