BOCIC(SH:601696)2022-03-29 16:00Financial Performance - The total operating income for 2021 was ¥3,333,518,749.21, representing a 2.75% increase from ¥3,244,172,276.95 in 2020[33]. - The net profit attributable to shareholders of the parent company for 2021 was ¥961,625,314.57, an increase of 8.88% compared to ¥883,226,868.37 in 2020[33]. - The total assets as of the end of 2021 amounted to ¥62,672,287,069.09, reflecting a 16.15% increase from ¥53,959,761,529.19 at the end of 2020[33]. - The company reported a net cash flow from operating activities of ¥7,185,945,479.07 in 2021, a significant increase of 141.46% from ¥2,976,032,141.38 in 2020[33]. - The company's net profit for 2021 was approximately ¥963.13 million, reflecting an 8.84% increase compared to ¥884.92 million in 2020[45]. - The total comprehensive income for 2021 reached approximately ¥970.62 million, which is an increase of 11.06% from ¥873.99 million in 2020[45]. - The company's cash and cash equivalents increased by 24.97% to ¥18.25 billion as of December 31, 2021, compared to ¥14.61 billion in 2020[44]. - The company's total liabilities reached ¥46,963,297,005.97 at the end of 2021, which is a 20.56% increase from ¥38,953,432,593.20 in 2020[33]. - The company's total operating revenue of CNY 33.34 billion in 2021, with a year-on-year increase of 2.75%[89]. - The net cash increase for the year was CNY 5.03 billion, with net cash flow from operating activities amounting to CNY 7.19 billion[93]. Dividend Distribution - The company plans to distribute a cash dividend of 0.36 RMB per 10 shares, totaling 100,008,000 RMB based on a total share capital of 2.778 billion shares as of December 31, 2021[4]. - The board of directors has approved the profit distribution plan, pending shareholder approval[4]. Risk Management - The company faces several risks, including market risk, credit risk, operational risk, liquidity risk, and reputational risk, which are detailed in the management discussion section[6]. - The company has established a comprehensive risk management system, including operational management policies and a structured organizational framework[116][117]. - The risk management framework includes three lines of defense: business units, compliance and risk management departments, and the audit department[118]. - The company has invested in a reliable risk management information technology system to enhance risk monitoring and management capabilities[119][120]. - The company has established a robust anti-money laundering framework, including customer identification and monitoring of large and suspicious transactions[127]. Compliance and Governance - The company emphasizes the importance of accurate and complete financial reporting, with key management personnel affirming the integrity of the annual report[3]. - The company has established a robust corporate governance structure, including a board of directors, supervisory board, and management team, ensuring clear responsibilities and operational norms[133]. - The company has maintained transparency in its remuneration practices, providing detailed disclosures to shareholders[155]. - The company has been compliant with regulatory requirements regarding risk control indicators throughout 2021[160]. Business Expansion and Services - The company has received approval for various securities asset management and brokerage services, enhancing its operational capabilities[14]. - The company is now qualified to conduct private fund comprehensive custody business, expanding its service offerings[15]. - The company has been authorized to provide comprehensive services to insurance institutional investors, tapping into a new client segment[14]. - The company is focusing on technology-enabled personal wealth management transformation and enhancing client service capabilities[48]. - The company aims to strengthen its financial advisory and new third board business, focusing on state-owned enterprises and green dual-carbon strategies[56]. Market Position and Client Growth - The company added approximately 760,000 new clients in its wealth management business, a year-on-year increase of 73%[60]. - The monthly active users of the company's APP reached 1.28 million, ranking 20th in the industry, an increase of 3 places from the previous year[60]. - The company achieved total operating revenue of CNY 33.34 billion in 2021, with a year-on-year increase of 2.75%[89]. Technology and Innovation - The company is investing in new technology development with a budget of RMB 1 billion for R&D initiatives[142]. - The company plans to enhance its digital services, aiming for a 30% increase in digital transactions by the end of the year[142]. - The company is exploring partnerships with tech firms to leverage new technologies, aiming for a pilot project launch by Q4 2022[146]. Social Responsibility and Sustainability - The company actively supports carbon neutrality initiatives, having assisted in the issuance of the first carbon-neutral green bonds in the exchange market, with at least 70% of the raised funds allocated to carbon reduction projects[192]. - The company donated 1.5 million yuan for the reconstruction of a primary school in Longsheng County, improving educational conditions[196]. - The company has committed to research and investment in green and low-carbon industries, focusing on clean energy and carbon capture technologies[193]. Employee Management and Development - The total number of employees in the parent company and major subsidiaries is 3,007, with 2,869 in the parent company and 138 in major subsidiaries[172]. - The company has developed targeted training programs for employees to enhance their skills and promote self-improvement[174]. - The company has a structured approach to employee compensation, which includes fixed salaries, benefits, and annual bonuses based on performance[173].