Huaxi Securities(SZ:002926)2022-04-25 16:00Financial Overview - The registered capital of Huaxi Securities is 2.625 billion yuan, and the net capital is 17.66 billion yuan[9]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2021, representing a growth of 15% year-over-year[28]. - The total operating revenue for 2021 was ¥5,121,995,492.55, representing a 9.38% increase from ¥4,682,755,761.60 in 2020[37]. - The net profit attributable to shareholders for 2021 was ¥1,632,123,985.51, a decrease of 14.11% compared to ¥1,900,327,802.56 in 2020[37]. - The total assets at the end of 2021 reached ¥95,794,913,997.16, an increase of 24.04% from ¥77,228,644,030.80 at the end of 2020[39]. - The total liabilities increased by 31.38% to ¥73,390,611,406.86 in 2021 from ¥55,861,535,862.12 in 2020[39]. - The basic earnings per share for 2021 was ¥0.62, a decrease of 13.89% from ¥0.72 in 2020[39]. - The company reported a significant increase in revenue, reaching 1.5 billion yuan, representing a 20% year-over-year growth[152]. - The company reported a total revenue of 1.2 billion yuan for the fiscal year 2021, representing a year-over-year increase of 15%[164]. Shareholder Returns - The company plans to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares based on a total of 2.625 billion shares, with no bonus shares issued[4]. - The total cash dividend amount for the year was ¥262,500,000, representing 100% of the distributable profit of ¥933,648,175.47[200]. - The company has a share capital base of 2,625,000,000 shares for the distribution plan[200]. - The company prioritizes cash dividends, with stock dividends proposed only under favorable operating conditions[182]. - The company ensures that minority shareholders have ample opportunities to express their opinions and protect their legal rights[183]. Business Operations and Strategy - The company operates in the securities industry, which is subject to cyclical changes in the Chinese securities market[2]. - The company has undergone significant restructuring and capital increases since its establishment, reflecting its growth strategy and market expansion efforts[19]. - The company is focusing on market expansion strategies, including the establishment of new branches in key cities[23]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and expand its service capabilities[23]. - The company aims to enhance its comprehensive strength and industry ranking through a "325" strategy focusing on three core business pillars: wealth management, investment banking, and investment management[119]. Risk Management - The company emphasizes the increased legal responsibilities and risks associated with the new Securities Law and the implementation of the registration system[4]. - The company is subject to various risks, including policy, operational, market, credit, liquidity, and operational risks[4]. - The company has established a risk management model focusing on Value at Risk (VaR), sensitivity indicators, and stress testing to manage market risks, with a 95% confidence interval for VaR calculations[124]. - The company has implemented a comprehensive credit risk management framework, including a set of risk control indicators for margin trading and stock pledge repurchase transactions[125]. Subsidiaries and Branches - The company has multiple branches, including Shenzhen, Shanghai, and various locations in Sichuan province, enhancing its market presence[22]. - The company has established two wholly-owned subsidiaries under Huaxi Futures, with registered capital of ¥10 million and ¥5 million respectively[33]. - The company has a total of 115 securities business departments distributed across 18 provinces, 4 municipalities, and 1 autonomous region, with 57 located in Sichuan Province and 58 outside[25]. - The company has expanded its market presence with the establishment of multiple branches, including a new branch in Guangzhou opened on May 26, 2021[23]. Technology and Innovation - The company plans to invest 100 million yuan in research and development for new technologies in the upcoming fiscal year[167]. - The company is investing heavily in R&D, with a budget increase of 25% to enhance technology development[30]. - The company’s intelligent investment research platform is being developed to optimize fixed income business processes and respond quickly to new business demands[57]. - The company is committed to advancing financial technology initiatives, including the development of a data management platform and investment data center[122]. Compliance and Governance - The company has established a complete and independent financial management system, ensuring no shared bank accounts with the controlling shareholder[135]. - The company has maintained a fully independent business structure, with no overlap in personnel or assets with the controlling shareholder[134]. - The company has revised its articles of association to align with regulatory requirements, enhancing governance and accountability mechanisms[132]. - The company has established specialized committees, including an audit committee and a risk control committee, led by independent directors[172]. Market Performance and User Engagement - User data showed a total of 5 million active users by the end of 2021, an increase of 20% compared to the previous year[29]. - The company reported a significant increase in user data, with a total of 115 business departments enhancing customer engagement[25]. - Customer satisfaction ratings improved to 90%, reflecting a strong commitment to service quality[152]. - The company is exploring partnerships with international firms to enhance its global footprint and diversify revenue streams[152].