Founder Securities(SH:601901)2024-03-19 16:00Financial Performance - The company achieved operating revenue of 7.119 billion yuan and a net profit attributable to shareholders of 2.152 billion yuan, marking a continuous growth for five years and reaching a seven-year high[5]. - The net profit attributable to shareholders reached 2.152 billion yuan, marking a continuous growth for five years and the highest in nearly seven years[8]. - The company's operating revenue for 2023 was approximately ¥7.12 billion, a decrease of 8.46% compared to ¥7.78 billion in 2022[41]. - The net profit attributable to shareholders for 2023 was approximately ¥2.15 billion, showing a slight increase of 0.21% from ¥2.15 billion in 2022[41]. - The total assets of the company at the end of 2023 reached approximately ¥222.44 billion, an increase of 22.48% from ¥181.61 billion at the end of 2022[42]. - The total liabilities at the end of 2023 were approximately ¥176.35 billion, reflecting a growth of 28.04% from ¥137.74 billion at the end of 2022[42]. - The company's cash flow from operating activities for 2023 was negative at approximately -¥8.31 billion, worsening from -¥5.41 billion in 2022[41]. - The company's total registered capital is ¥8.23 billion, unchanged from the previous year[42]. - The company's total assets, excluding client transaction settlement funds, were 169.889 billion RMB, reflecting a growth of 41.454 billion RMB or 32.28%[126]. Customer Growth and Market Share - The number of customers exceeded 16 million, with a market share in securities trading net income rebounding to a three-year high; margin financing and securities lending balance market share increased from 1.70% to 1.87%[5]. - The company added 1.24 million new clients, bringing the total client base to over 16 million[9]. - The market share for securities trading net income in Q4 2023 rose to approximately 2.90%, the highest in three years[70]. - The number of institutional clients opened and new assets increased by nearly 200% year-on-year, with institutional clients accounting for over 50% of the company's new account trading volume[78]. Investment and Asset Management - The company’s futures subsidiary, Fangzheng Zhongqi Futures, reported a daily average customer equity scale of 28.9 billion yuan, a historical high, and was recognized as an excellent case for serving the real economy[5]. - The fixed income investment yield reached 11.39%, with trading income from stocks and bonds both growing by 30% year-on-year[5]. - The private equity subsidiary, Fangzheng Hesheng Investment, invested in over 40 high-quality enterprises in 2023, with three companies completing their IPOs[6]. - The asset management scale increased significantly, with public fund management scale reaching 61.2 billion yuan, both revenue and net profit for public funds hitting new highs[9]. - The company’s investment income rose by 19.71% to ¥1,135,903,713.96 from ¥948,864,216.93 in the previous year[46]. - The public fund management business managed a total of 611.67 billion CNY in assets, an increase of 111.82 billion CNY year-on-year, representing a growth rate of 22.37%[96]. Risk Management - The company has established a comprehensive risk management system covering various risk types, including credit risk, market risk, liquidity risk, operational risk, and compliance risk[150]. - A multi-level risk management system has been implemented, ensuring that risk management responsibilities are clearly defined across all departments and subsidiaries[150]. - The company has developed a risk monitoring mechanism, including a risk early warning system and a comprehensive risk management platform for centralized monitoring of risk information[151]. - The company has established emergency response mechanisms for significant risks, including liquidity risk and information system failures, with defined trigger conditions and procedures[153]. - The company aims to enhance its risk management capabilities through continuous training and development of risk management personnel[150]. Digital Transformation and Innovation - The company is focused on enhancing service efficiency through a digitalized management model, targeting retail and institutional clients[70]. - The monthly active peak of the Xiaofang APP increased by 7.6%, daily average visits rose by 16.2%, and average daily visit duration grew by 12.1% year-on-year, indicating significant improvement in user engagement and satisfaction[73]. - The company has successfully implemented a cloud-native architecture system, improving system stability and reducing business interruption risks[167]. - The company has optimized its operational processes and enhanced customer service efficiency through digital transformation initiatives[168]. Corporate Governance and Leadership - The company held a total of 5 shareholder meetings during the reporting period[175]. - All proposals at the 2023 First Extraordinary General Meeting were approved, including the election of independent directors[175]. - The company has expanded its board with new directors elected in June 2023, enhancing governance[175]. - The current chairman, Shi Hua, has been in position since September 2018 and is also the president and executive committee director[178]. - The company’s senior management compensation structure includes a deferred payment of over 40% of their performance-based salary, with a minimum deferral period of 3 years[177].