TF Securities(SH:601162)2023-04-27 16:00Financial Performance - The net profit attributable to the parent company for 2022 was -1,508,969,578.78 RMB, with a basic earnings per share of -0.18 RMB[4] - The parent company's net profit for the year was -1,655,985,577.05 RMB, indicating a loss for the period[4] - The company will not implement a cash dividend for 2022 due to the lack of profitability, as required by regulatory guidelines[4] - Total revenue for 2022 was ¥1,720,988,732.54, a decrease of 60.94% compared to ¥4,405,719,313.76 in 2021[34] - Net profit attributable to shareholders was -¥1,508,969,578.78, a decline of 357.35% from ¥586,354,789.34 in the previous year[34] - The company's total assets increased by 1.71% to ¥98,208,310,131.14 at the end of 2022, compared to ¥96,559,066,140.19 at the end of 2021[34] - Total liabilities rose by 5.12% to ¥74,359,447,723.25 in 2022, up from ¥70,736,368,393.43 in 2021[35] - Basic earnings per share for 2022 was -¥0.18, a decrease of 357.14% from ¥0.07 in 2021[36] - The weighted average return on equity was -6.26% in 2022, down 8.82 percentage points from 2.56% in 2021[36] - Cash flow from operating activities was -¥12,449,445,166.18, a significant decline from ¥5,244,841,534.51 in the previous year[34] Capital Structure and Shareholder Information - The registered capital remained unchanged at 8,665,757,464.00 RMB compared to the previous year[12] - The registered capital of Tianfeng Securities reached 866.6 million RMB following a non-public offering of up to 1.99 billion shares approved in March 2021[22] - Tianfeng Securities' registered capital increased from 518 million RMB to 666.6 million RMB after a rights issue in March 2020, with 1.48 billion shares effectively subscribed[22] - As of December 31, 2022, the company had no controlling shareholder, but on February 15, 2023, Hongtai Group became the controlling shareholder, holding 1,199,447,290 shares (13.84% of total shares) and together with its acting in concert party, Commerce Group, holding a total of 1,960,436,232 shares (22.62% of total shares)[106] - The total number of ordinary shareholders as of the end of the reporting period was 196,345[200] Risk Management and Compliance - The company faces various risks, including legal compliance risks, credit risks from defaults, market risks from price fluctuations, and liquidity risks[6] - The company has acknowledged the existence of non-operational fund occupation by controlling shareholders and other related parties[5] - The company is committed to improving its internal processes and risk management to mitigate operational risks[6] - A comprehensive risk management framework is being established to align with the company's operational strategy and risk appetite, covering all business areas[94] - The compliance legal department oversees the company's adherence to legal and regulatory requirements, ensuring proper governance and risk management[98] - The company has established a reputation risk management system that analyzes potential risks and their impact on business and financial status[98] Business Operations and Strategy - The company has been actively expanding its service offerings, including entering the interbank lending market and engaging in private placement bond underwriting since 2012[14] - The company has established a presence in the Hong Kong stock market through the Stock Connect program, gaining trading permissions in November 2016[13] - The company has engaged in strategic partnerships and collaborations to enhance its service offerings and market reach, particularly in the area of private equity and asset management[14] - The company aims to strengthen its comprehensive financial services and enhance its asset management capabilities to meet diverse client needs[58] - The company plans to enhance its digital marketing efforts, targeting a 40% increase in online engagement over the next year[27] Research and Development - Research and development investments have increased by 20%, focusing on advanced technologies and product enhancements[27] - The company is investing 200 million yuan in R&D for new technologies aimed at enhancing product efficiency[117] - The number of R&D personnel was 52, representing 1.63% of the total workforce[72] Corporate Governance - The company has a structured governance framework involving a general meeting of shareholders, a board of directors, and a supervisory board[101] - The board consists of 15 members, including 5 independent directors, ensuring compliance with governance regulations[103] - The supervisory board monitors the legality and compliance of the actions of directors and senior management, safeguarding the interests of the company and its shareholders[104] - The company has a structured compensation policy that includes basic salary, allowances, performance bonuses, and benefits, aligning with performance and compliance requirements[142] Environmental and Social Responsibility - The company invested 2.52 million yuan in environmental protection during the reporting period[152] - The company reduced carbon emissions by 429 tons through various measures, including the use of solar energy and energy-efficient products[155] - Total donations and public welfare project investments amounted to 3.87 million yuan, benefiting 26,227 individuals[158] - The company actively promotes green finance and ESG research to support sustainable development[154] Future Outlook - The company has set a future outlook with a revenue guidance of $1.7 billion for the next fiscal year, indicating a growth target of approximately 13%[27] - The company is expanding its market presence in Southeast Asia, aiming for a 30% increase in market share within the next two years[27] - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 1.32 billion, driven by new product launches and market expansion[120]