CGS(SH:601881)2021-03-29 16:00Dividend Distribution - The proposed cash dividend distribution is RMB 2,230,196,926.54 (including tax), equating to RMB 2.20 per share based on a total share capital of 10,137,258,757 shares [4]. - The company’s cash dividend proposal requires approval from the shareholders' meeting after being reviewed by the board of directors [4]. Risk Management - The company faces significant risks including market volatility, legal compliance, strategic planning, operational management, market price fluctuations, credit risk, liquidity risk, and operational risk due to internal process management [7]. - The company is committed to optimizing risk management through organizational structure, management mechanisms, and information technology to mitigate market and credit risks [7]. - The company has identified market risk, credit risk, liquidity risk, operational risk, and cybersecurity risk as key operational risks [171]. - The company has implemented a comprehensive risk management system to enhance its risk management capabilities [170]. - The company has established a comprehensive liquidity risk indicator system and conducts daily monitoring of liquidity conditions [179]. - The company emphasizes the importance of risk management and continuously improves its risk management framework and tools [182]. - The company has built a risk management information system that includes a market risk measurement platform and a credit internal rating system [185]. - The company actively employs risk hedging and limit management strategies to monitor and manage securities holding risks [174]. - The company has a controlled overall liquidity risk with sufficient high-quality liquid assets and reserves [179]. - The risk management organization is structured based on a "three lines of defense" model, integrating subsidiary risk management into a unified system [189]. Financial Performance - The company reported a total revenue of RMB 500 million for the year 2020, reflecting a year-on-year increase of 10% [36]. - The company’s operating revenue for 2020 was approximately ¥23.75 billion, representing a year-over-year increase of 39.37% compared to ¥17.04 billion in 2019 [39]. - The net profit attributable to shareholders for 2020 was approximately ¥7.24 billion, up 38.54% from ¥5.23 billion in 2019 [39]. - The total assets of the company reached RMB 5 billion, marking a 15% increase compared to the previous year [36]. - The company achieved total assets of RMB 445.73 billion and net profit attributable to the parent company of RMB 7.244 billion, representing a year-on-year growth of 39.37% and 38.54% respectively [74]. - The company’s total assets reached RMB 445.73 billion, an increase of 41.20% compared to the previous year [64]. - The net profit for the reporting period was RMB 15.75 billion, representing a year-on-year growth of 27.98% [61]. - The company reported a significant increase in customer satisfaction scores, rising to 90% in 2020, attributed to improved service quality and support [36]. Business Expansion and Strategy - The company is committed to expanding its market presence and enhancing its service capabilities through strategic qualifications and partnerships [20]. - The company plans to expand its market presence by opening 10 new branches across key cities in China by the end of 2021 [36]. - The company aims to strengthen its position as a leading investment bank in the Asian capital markets, focusing on comprehensive securities services including brokerage, investment banking, and asset management [52]. - The company aims to enhance its market position in Southeast Asia and expand into Russia and Africa in its international business strategy [121]. - The company plans to enhance its wealth management and investment financing business systems in 2021, focusing on standardized services and professional talent training [169]. Corporate Governance - The company is committed to enhancing its corporate governance structure in accordance with relevant laws and regulations [29]. - The board of directors is the highest decision-making body for risk management, supported by the Risk Management Committee and the Audit Committee [190]. - The Audit Committee supervises the company's financial decisions, internal control systems, and compliance with major accounting policies [192]. Subsidiaries and Capital Structure - The company has five subsidiaries, including Galaxy Futures and Galaxy Innovation Capital [30]. - The registered capital of Galaxy Futures was increased from RMB 1.2 billion to RMB 2.3 billion in January 2021 [32]. - The company completed the acquisition of 100% equity in Galaxy Futures, increasing its investment in subsidiaries [146]. Market Presence - The company holds multiple business qualifications, including ETF primary dealer qualification and various trading qualifications on both Shanghai and Shenzhen stock exchanges [19]. - China Galaxy Securities has maintained its stock listings on both the Shanghai Stock Exchange (A-shares) and the Hong Kong Stock Exchange (H-shares) under the ticker codes 601881 and 06881 respectively [24]. - The company has established 36 branches and 491 securities business offices as of the end of the reporting period [158]. Investment and Technology - Investment in new technology development increased by 20%, with a focus on enhancing digital trading platforms and improving user experience [36]. - The company plans to increase investment scale in equity investments while focusing on core assets and low-risk strategies in 2021 [110]. Awards and Recognition - The company received multiple awards in 2020, including "Active Trader of the Year" in the interbank market and "Outstanding Bond Investment Institution" from the Shanghai Stock Exchange [107].