CGWS(SZ:002939)2022-04-11 16:00Financial Performance - Total operating revenue for 2021 was CNY 7,756,796,088.56, an increase of 12.93% compared to 2020[29]. - Net profit attributable to shareholders for 2021 was CNY 1,765,610,928.44, representing a growth of 17.58% year-over-year[29]. - The net profit after deducting non-recurring gains and losses was CNY 1,761,903,298.90, up 17.68% from the previous year[29]. - The total assets as of the end of 2021 reached CNY 92,696,887,190.63, a 28.37% increase from 2020[29]. - Total liabilities increased by 35.20% year-over-year, amounting to CNY 72,583,850,428.44 at the end of 2021[29]. - The basic earnings per share for 2021 was CNY 0.57, an increase of 18.75% compared to 2020[29]. - The weighted average return on equity rose to 9.38%, an increase of 0.80 percentage points from the previous year[29]. - The company reported a net cash flow from operating activities of -CNY 1,229,285,409.09 for 2021, an improvement from -CNY 4,766,011,920.29 in 2020[29]. - The company reported a liquidity coverage ratio of 312.07% at the end of 2021, up from 230.58% at the end of 2020[39]. - The company’s core net capital increased by 7.77% to ¥14,585,634,977.56 at the end of 2021 from ¥13,533,730,173.02 at the end of 2020[39]. Business Operations and Expansion - The company operates 118 securities business departments across various regions in China[25]. - The company has established 14 domestic branches, with no overseas branches as of the end of 2021[23]. - The company has expanded its branch network to cover 26 provinces and municipalities, enhancing its market presence and growth potential[45]. - The company completed five IPO projects in 2021, focusing on industries such as new materials, TMT, and high-end manufacturing[53]. - The company is actively pursuing a "digital broker" strategy, implementing a financial technology development plan to enhance digital capabilities and improve operational efficiency[47]. - The company plans to deepen its focus on the power, energy, and technology innovation sectors in its investment banking business in 2022[53]. Risk Management - The company faces various risks including market risk, credit risk, liquidity risk, operational risk, and compliance risk[4]. - The company has established a comprehensive risk management framework covering market, credit, liquidity, operational, compliance, and reputational risks[199]. - The risk management organization structure is led by the board's risk control and compliance committee, ensuring effective oversight[200]. - The company implemented various stress testing methods to manage business scale risks and ensure capital adequacy[196]. - The company maintained sufficient high-quality liquid assets to meet liquidity demands in stress scenarios[107]. Corporate Governance - The board of directors consists of 12 members, including 8 non-independent directors and 4 independent directors, with a term of 3 years[118]. - The company has established a robust governance structure with clear responsibilities and effective decision-making processes[114]. - The company actively engaged with independent directors to ensure their professional advice is considered in significant matters affecting minority shareholders[116]. - The company disclosed a total of 207 announcements during the reporting period, ensuring transparency and compliance with information disclosure regulations[126]. - The company has a structured decision-making process for profit distribution that includes independent directors' opinions[180]. Shareholder Engagement and Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders[3]. - The company has implemented a cash dividend policy, aiming for a minimum of 30% of the average distributable profit over three consecutive years to be distributed in cash, provided there are no major investment plans[178]. - The company actively engages with minority shareholders to gather their opinions on profit distribution plans[181]. - The cash dividend distribution is based on the company's financial performance and shareholder return planning[182]. Employee Management and Development - The total number of employees at the end of the reporting period was 3,290, with 3,029 in the parent company and 261 in major subsidiaries[171]. - The company established the "Great Wall Talent Development Institute" in 2021 to enhance employee training and development[173]. - The company employs a performance-based salary system, combining fixed salaries with performance bonuses and business rewards[172]. - The total remuneration paid to 26 directors, supervisors, and senior management personnel during the reporting period amounted to CNY 29.1144 million, with 17 individuals receiving compensation[161]. Financial Health and Investments - The company has a total of RMB 30.1 billion in other securities investments, with a year-end book value of RMB 30.8 billion[86]. - The company’s total investment in its operating capital was RMB 900 million, fully aligned with the planned investment[90]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15%[144]. - The company is investing in new technology development, allocating 100 million yuan for R&D in the upcoming year[144]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[144]. - The company plans to implement a new digital platform aimed at improving user experience and operational efficiency, set to launch in Q3 2022[151]. - The company aims to enhance its capital strength through refinancing and improve its core competitiveness in various business sectors[102]. - The company anticipates a continuous increase in national investment and wealth management demand, driving innovation in financial products[99].