2024-03-28 16:00Financial Performance - The company's operating revenue for 2023 was approximately RMB 22.95 billion, a decrease of 11.54% compared to RMB 25.95 billion in 2022[50]. - The net profit attributable to shareholders for 2023 was approximately RMB 1.01 billion, down 84.59% from RMB 6.55 billion in 2022[50]. - The net cash flow from operating activities for 2023 was approximately RMB 3.05 billion, a decline of 65.38% compared to RMB 8.82 billion in 2022[50]. - The total assets at the end of 2023 were approximately RMB 754.59 billion, a slight increase of 0.13% from RMB 753.61 billion at the end of 2022[50]. - The total liabilities at the end of 2023 were approximately RMB 579.79 billion, an increase of 0.66% from RMB 575.99 billion at the end of 2022[50]. - The basic earnings per share for 2023 were RMB 0.08, down 84.00% from RMB 0.50 in 2022[51]. - The weighted average return on equity for 2023 was 0.61%, a decrease of 3.38 percentage points from 3.99% in 2022[51]. - The company's cash and cash equivalents decreased by 9.99% from CNY 158.58 billion to CNY 142.73 billion[59]. - The net interest income fell by 34.16% to CNY 4.09 billion from CNY 6.21 billion[60]. - The investment income increased by 130.60% to CNY 6.48 billion from CNY 2.81 billion[60]. - The net income from fees and commissions decreased by 19.27% to CNY 9.35 billion[60]. - The company reported a comprehensive income total of CNY -183.56 million, a decline of 103.63% compared to the previous year[60]. Shareholder Returns - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares, totaling approximately 1.3 billion RMB, which accounts for 128.96% of the net profit attributable to shareholders for 2023[8]. - The company has repurchased shares totaling nearly 600 million RMB, positively impacting shareholder confidence and stabilizing market expectations[16]. Client and Market Engagement - As of the end of 2023, the company has served over 24 million clients, enhancing its comprehensive financial service capabilities[14]. - In 2023, the company's wealth management client base grew to 18.09 million, an increase of 6.20% year-over-year, with managed client assets reaching CNY 3 trillion, up 0.60% from the previous year[66]. - The company's total trading volume for stocks was CNY 12.50 trillion, down 8.60% from CNY 13.68 trillion in the previous year, while fund trading volume increased to CNY 3.50 trillion, up 3.52%[67]. - The company signed strategic cooperation agreements with over 80 government and enterprise partners to enhance regional coverage and service capabilities[68]. Innovation and Product Development - The company has successfully issued multiple market-first products, including the first "green + low-carbon transition-linked" asset-backed securities in the country[13]. - The company is advancing its digital transformation with the goal of building a "Digital Haitong 2.0" platform, focusing on agile, platform-based, intelligent, and ecological financial technology[15]. - The company launched new structured products for high-net-worth clients, enhancing investment options and risk management strategies[73]. - The company launched the first vertical large model in the industry, "Pan Hai Yan Dao," enhancing financial services through advanced AI technologies[138]. Regulatory Compliance and Risk Management - The company is committed to strengthening compliance and risk management in response to increased regulatory scrutiny[17]. - The company has established a comprehensive risk management system, including a performance assessment framework for risk management effectiveness and a complete information technology system for data quality control[147]. - The company has identified various risks including compliance risk, money laundering and terrorist financing risk, credit risk, market risk, operational risk, liquidity risk, and reputation risk[149]. - The company has strengthened its compliance management framework, designating 2023 as the "Compliance Internal Control Culture Consolidation Year" to enhance compliance practices[151]. Strategic Initiatives and Future Outlook - The company emphasizes the importance of deepening reforms to drive high-quality development amidst a challenging external environment[17]. - The company aims to enhance its role as a service provider for direct financing and a gatekeeper for the capital market[17]. - The company plans to explore a collaborative operational model integrating investment banking, investment, and research[17]. - The company is focusing on supporting advanced manufacturing, digital economy, green development, and technology innovation as key business transformation directions[99]. - The company is committed to improving its asset quality and risk management capabilities in its leasing services, while promoting inclusive finance[144]. Organizational Structure and Governance - The company has a transparent governance structure with a clear separation of powers among the shareholders' meeting, board of directors, and supervisory board[177]. - The company completed the election of the eighth board of directors on October 12, 2023, consisting of 11 members, including 3 executive directors, 4 non-executive directors, and 4 independent non-executive directors[198]. - The company has emphasized the importance of compliance and risk management in its operations, appointing a new Chief Risk Officer in June 2023[197]. - The company has established a dedicated human resources department, ensuring independent personnel management and compliance with legal procedures for appointing directors and senior management[179].