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国盛金控(002670) - 2020 Q4 - 年度财报

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2020, reflecting a year-on-year increase of 15%[7]. - The company's operating revenue for 2020 was ¥2,205,985,257.07, representing a 32.12% increase compared to ¥1,669,714,290.97 in 2019[12]. - The net profit attributable to shareholders for 2020 was -¥365,875,868.24, a decrease of 573.14% from ¥95,206,095.24 in 2019[12]. - The basic earnings per share for 2020 was -¥0.1891, a decline of 572.75% from ¥0.0492 in 2019[12]. - The company achieved total operating revenue of approximately CNY 2.206 billion, representing a year-on-year growth of 32.12%, but reported a net loss of approximately CNY 366 million, a decline of 573.14% year-on-year[29]. - The company reported a significant increase in commission and fee income, reaching approximately 1.412 billion, which accounted for 63.32% of total revenue[35]. - The company reported a significant decrease in securities proprietary business revenue, which fell by 75.31% year-on-year to CNY 140,317,431.05[48]. - The company reported a total of ¥14,085,508.28 in government subsidies related to its business for 2020[20]. Management and Governance - The company underwent a management takeover by the China Securities Regulatory Commission on July 17, 2020, due to governance issues at Guosheng Securities and Guosheng Futures[3]. - The company maintains stable operations for Guosheng Securities post-takeover, with no impact on business qualifications[3]. - The company emphasizes compliance and risk management as fundamental to its business development, aiming to enhance risk control awareness among all employees[69]. - The company has committed to maintaining stable operations and complying with takeover arrangements[72]. - The company has established a complete and independent corporate governance structure for the listed company[82]. - The company’s board restructuring included the election of new independent directors, enhancing governance and oversight[135]. - The company’s management team saw the departure of Lin Chienher, the former Deputy General Manager and Chief Information Officer, as part of the leadership changes[135]. Financial Position - The total assets at the end of 2020 were ¥31,319,119,533.76, a decrease of 7.55% from ¥33,730,601,085.13 at the end of 2019[13]. - The net assets attributable to shareholders at the end of 2020 were ¥11,294,754,545.58, down 3.66% from ¥11,576,618,119.25 at the end of 2019[13]. - The company's total liabilities decreased from CNY 22,151,492,915.78 to CNY 20,021,988,569.60, a reduction of approximately 9.6%[193]. - The asset-liability ratio was 63.93%, a decrease of 1.46% compared to the previous year[55]. - The company's cash and cash equivalents at the end of the period were 10.127 billion CNY, up 38.15% from the previous year[25]. - The company's total current liabilities decreased from CNY 20,964,000,005.49 to CNY 20,007,531,735.65, a reduction of about 4.6%[192]. Operational Highlights - The company is focusing on wealth management transformation and increasing business investment, leading to significant growth in major business scales compared to the previous year[23]. - The brokerage business saw a daily average trading amount of CNY 7.631 billion, a 66.87% increase compared to the previous year's daily average of CNY 4.573 billion, outperforming the market growth rate of 62.37%[30]. - The investment banking segment achieved a main underwriting scale of CNY 15.008 billion, a year-on-year increase of 35.63%, with underwriting income growing by 34.49%[30]. - The company added 32 new foreign clients in 2020, bringing the total number of cooperative clients to 72, indicating strong market recognition of its research capabilities[30]. Risks and Challenges - The company faces significant risks including policy, operational, management, liquidity, and litigation risks, which could impact its business operations[69]. - The company is facing liquidity risks due to the takeover of a subsidiary, which may impact future operations[72]. - The company reported a total of 6.33 billion CNY in pending litigation, with 5.29 billion CNY as the plaintiff and 1.04 billion CNY as the defendant[94]. Social Responsibility - The company donated 5 million CNY to the Jiangxi Red Cross for pandemic relief and provided 12,500 sets of medical protective equipment during the COVID-19 pandemic[107]. - The company invested over 1 million CNY to purchase agricultural products from impoverished areas to alleviate sales difficulties during the pandemic[109]. - The company plans to continue its social responsibility initiatives, focusing on poverty alleviation and community support[108]. - In 2020, Guosheng Financial Holdings donated 300,000 yuan to build a smart classroom in Pengshui County, benefiting over 200 students[110]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on market expansion strategies and new product launches[139]. - The company plans to enhance its operational efficiency, aiming for a 10% reduction in operational costs by the end of 2021[143]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[139]. - The company aims to focus on "stability in operations and risk control" in 2021, aiming for steady growth while optimizing business structure and reducing costs[68].