Company Overview - The audited annual performance report for China Galaxy Securities Co., Ltd. for the year ended December 31, 2023, has been announced[1]. - The company is listed on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange, with stock codes 06881 and 601881 respectively[4]. - The controlling shareholder, China Galaxy Financial Holdings, held 47.43% of the issued share capital as of the reporting period end[4]. - The report will be sent to shareholders by the end of April 2024 and will be available on the Hong Kong Stock Exchange and the company's website[1]. - The report period covers from January 1, 2023, to December 31, 2023[5]. - The company is subject to the regulations of the China Securities Regulatory Commission and the Beijing Securities Regulatory Bureau[4]. - The company’s H shares are traded in Hong Kong dollars, while A shares are traded in Renminbi[5]. - The company has a 100% ownership of several subsidiaries, including Galaxy Innovation Capital and Galaxy Futures[5]. Financial Performance - Total revenue for 2023 reached RMB 44,962,115 thousand, an increase of 2.70% compared to RMB 43,781,051 thousand in 2022[25]. - Total expenses amounted to RMB 36,826,150 thousand, reflecting a 2.83% increase from RMB 35,811,056 thousand in the previous year[25]. - Profit before tax was RMB 8,133,649 thousand, up by 2.04% from RMB 7,970,867 thousand in 2022[25]. - Net profit attributable to shareholders was RMB 7,878,769 thousand, representing a 1.43% increase from RMB 7,767,550 thousand in 2022[25]. - The company reported a net profit attributable to shareholders of RMB 104.30 billion for the year 2023, up from RMB 100 billion in 2022[29]. - The total equity attributable to shareholders reached RMB 126.59 billion in 2023, compared to RMB 99.25 billion in 2022[32]. - The total assets of the group as of December 31, 2023, amounted to RMB 663.205 billion, an increase of 6.08% compared to the end of the previous year[39]. - The net cash flow from operating activities in 2023 was RMB -30,193 million, a decrease of RMB 59,019 million compared to RMB 28,826 million in 2022[66]. Risk Management - The company emphasizes that its business performance is highly dependent on the overall economic and market conditions in China and other regions, indicating potential risks from significant fluctuations in capital markets[7]. - The company has outlined various risks including legal and compliance risks, strategic risks due to market changes, operational risks from business model transformations, and market risks from price fluctuations of held securities[7]. - The company is focused on optimizing risk management processes, particularly in innovative business and product areas, to mitigate operational and market risks[7]. - The company has established a comprehensive risk management system to address potential risks, ensuring overall risk remains controllable without significant business risks occurring during the reporting period[128]. - The company has implemented strict risk limit management to control exposure, scale, concentration, loss limits, VaR, and sensitivity indicators[132]. Corporate Governance - The company emphasizes compliance with corporate governance codes as per the Hong Kong Stock Exchange listing rules[4]. - The board of directors and senior management have confirmed the authenticity and accuracy of the financial data presented in the report, taking joint responsibility for its content[7]. - The company’s governance structure complies with relevant laws and regulations, ensuring a scientific and standardized operation mechanism[18]. - The company has established a multi-level compliance management system to ensure adherence to legal and regulatory requirements[190]. Business Operations - The company operates under a wide range of business qualifications, including securities brokerage, investment consulting, and financial advisory services, among others[10]. - The company has expanded its business scope to include internet securities and private equity fund management qualifications[12]. - The company has established a presence in the interbank bond market and has qualifications for interbank lending[11]. - The company has a strategic focus on market expansion and new product development, as indicated by its various business qualifications[11]. Shareholder Information - The company distributed a cash dividend of CNY 2,405,568,496.32, which accounts for 30.53% of the net profit attributable to ordinary shareholders in the consolidated financial statements[160]. - The cash dividend per 10 shares is CNY 2.20, with no stock dividends or capital increases reported[160]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends when conditions allow[159]. Future Outlook - Future plans and strategic developments are subject to market conditions, and the company warns investors to be aware of investment risks associated with these plans[7]. - The company anticipates a complex international macroeconomic environment in 2024, with a focus on stabilizing economic growth and enhancing the attractiveness of the A-share market[123]. - The company has initiated a comprehensive implementation of the 2023-2025 strategic development plan, aiming to become a modern investment bank that is respected domestically and internationally[124]. Compliance and Legal Matters - The company has established a compliance monitoring system to detect and warn against abnormal trading behaviors, effectively preventing customer fraud[190]. - The company has no significant litigation or arbitration matters involving amounts exceeding RMB 10 million, accounting for more than 10% of the latest audited net assets during the reporting period[194]. - The company and its controlling shareholders maintained good credit and integrity, with no significant debts or court judgments outstanding[197].
中国银河(06881) - 2023 - 年度业绩