长江证券(000783) - 2020 Q4 - 年度财报

Financial Performance - Total operating revenue for 2020 was CNY 7,784,121,537.42, an increase of 10.68% compared to 2019[36] - Net profit attributable to shareholders for 2020 was CNY 2,085,377,418.25, representing a growth of 25.19% year-over-year[36] - The net profit after deducting non-recurring gains and losses was CNY 2,046,696,136.97, up 26.96% from the previous year[36] - Total assets as of the end of 2020 reached CNY 134,409,613,584.04, a 22.92% increase from 2019[36] - Total liabilities increased by 29.52% year-over-year, amounting to CNY 105,156,204,422.99[36] - Basic earnings per share for 2020 were CNY 0.38, a rise of 26.67% compared to 2019[36] - The weighted average return on equity was 7.58%, an increase of 1.23 percentage points from the previous year[36] Shareholder Returns - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares, totaling approximately 829.44 million RMB based on the total share capital of 5,529,623,307 shares as of December 31, 2020[2] - The cash dividend total (including other methods) accounted for 100% of the total profit distribution amount[159] - The company has committed to returning 50% of net profits to shareholders over the next three years (2020-2022)[150] - The cash dividend amount (including tax) was ¥829,443,496.05, representing 39.77% of the net profit attributable to ordinary shareholders of the listed company of ¥2,085,377,418.25[158] Business Operations - The company’s main business includes securities brokerage, proprietary trading, underwriting, and asset management, among others[9] - The company operates 279 branches across 158 cities in 31 provinces, with 247 of these being brokerage offices[32] - The company has established a total of 32 subsidiaries across various regions, including 2 in Hubei, 2 in Guangdong, and 2 in Liaoning[25] - The company added qualifications for securities investment fund custody and the ChiNext refinancing business during the reporting period[15] Risk Management - The company has a comprehensive risk management strategy in place to identify, assess, and monitor various types of risks including liquidity, market, credit, and operational risks[26] - The company implemented a comprehensive risk management mechanism to cover various risks, ensuring that overall risk is measurable, controllable, and bearable[134] - The company maintained a proactive approach to credit risk management, implementing a unified credit risk management system and enhancing the credit rating system to monitor and control exposure[137] - The liquidity risk management strategy included unified fund management, optimizing the maturity structure of liabilities, and maintaining a reasonable level of liquidity indicators[139] Compliance and Governance - The financial report has been audited by Zhongshen Zhonghuan Accounting Firm, which issued a standard unqualified opinion[2] - The company has established a comprehensive governance structure, including a board of directors, supervisory board, and specialized committees for strategic development, risk management, audit, and compensation[20] - The company has not faced any major administrative penalties during the reporting period, indicating a strong compliance culture[142] - The company has implemented a reputation risk management system, which includes real-time monitoring of potential reputation risks and has not experienced any significant reputation risk events[142] Investment and Financing - The company completed a non-public offering of 787 million shares, raising a net amount of 8.269 billion RMB in July 2016, increasing its registered capital to 5.529 billion RMB[18] - The company raised a total of RMB 1,089,824.20 million for operational funding, with the entire amount utilized by the end of the reporting period[106] - The company raised long-term operational funds through public issuance of corporate bonds, enhancing its financing capabilities[92] - The total amount raised in 2020 through three phases of bond issuance was RMB 10,898,242,000, with full utilization reported[101] Social Responsibility - The company actively engaged in social responsibility initiatives, donating CNY 10 million to hospitals in Wuhan during the pandemic[53] - The company completed poverty alleviation goals by helping 7 national-level poverty-stricken counties to exit the poverty list[180] - The company has launched over 400 financial poverty alleviation projects in 25 poverty-stricken counties since 2016, with a total financing scale exceeding 9 billion RMB[181] - The company invested CNY 103.31 million in supporting impoverished students, benefiting 4,898 students[185] Future Outlook - The company plans to enhance its investment management, wealth management, and corporate services platforms to strengthen its core competitiveness[125] - The company anticipates continued growth in its investment banking business, supported by over 2,000 companies currently undergoing listing guidance[123] - The wealth management market is expected to maintain a rapid compound growth rate, driven by increasing disposable income and a shift towards equity assets[122] - The company is focusing on improving its risk management system to ensure operational safety and compliance[124]