CGWS(SZ:002939)2024-04-22 13:47Financial Performance - Total operating revenue for 2023 reached ¥3,991,223,756.79, an increase of 27.66% compared to ¥3,126,774,195.92 in 2022[27]. - Net profit attributable to shareholders for 2023 was ¥1,438,472,745.34, reflecting a 60.00% increase from ¥898,824,572.73 in 2022[27]. - The net profit after deducting non-recurring gains and losses was ¥1,434,515,199.11, up 60.69% from ¥892,486,114.21 in the previous year[27]. - Basic earnings per share for 2023 were ¥0.36, a 38.46% increase from ¥0.26 in 2022[27]. - Total assets as of the end of 2023 amounted to ¥115,642,457,784.90, representing a 15.36% increase from ¥100,240,824,204.01 at the end of 2022[27]. - Total liabilities increased by 19.97% to ¥86,573,129,564.84 in 2023 from ¥72,163,915,728.18 in 2022[27]. - The weighted average return on equity rose to 5.12% in 2023, an increase of 1.09 percentage points from 4.03% in 2022[27]. - The company reported a net cash flow from operating activities of -¥4,720,915,760.81 for 2023, an improvement from -¥6,771,225,571.09 in 2022[27]. Capital Structure - The company reported a total registered capital of 4,034,426,956 RMB[7]. - The net capital of the company stands at 20,940,925,033.25 RMB[7]. - The company's registered capital increased to CNY 403,442.6956 million after a non-public offering of 931,021,605 shares[19]. - The company has a history of capital increases, with registered capital rising from CNY 15,700 million at inception to CNY 403,442.6956 million[19]. - The company’s retained earnings at the end of 2023 amount to CNY 4,254,675,696.11 after accounting for the cash dividends[182]. Risk Management - The company has faced risks related to market fluctuations, credit risk, liquidity risk, operational risk, and compliance risk[3]. - The company emphasizes the importance of investors being aware of investment risks related to forward-looking statements[2]. - The company has established a liquidity risk stress testing mechanism to analyze its ability to withstand short-term and medium-term pressures[106]. - The company is enhancing its compliance risk management through preemptive measures and post-event checks to prevent legal violations[108]. - The company has developed a comprehensive risk management framework covering market, credit, liquidity, operational, compliance, and reputational risks[193]. Business Operations - The company expanded its securities and futures business scope to include "securities investment fund custody" as of March 2021[9]. - The company operates under the Shenzhen Stock Exchange and is subject to its regulations[7]. - The company holds various qualifications for securities and futures business, including brokerage, investment consulting, and asset management[10]. - The company has qualifications for investment banking, including general underwriting for non-financial corporate debt financing instruments[13]. - The company has trading permissions for both the Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect[12]. Subsidiaries and Branches - The company has a total of 15 domestic branches, with no overseas branches as of the end of 2023[21]. - The company operates 109 securities business departments across various provinces and regions in China[24]. - The company has established a new subsidiary, Changcheng Securities Asset Management Co., Ltd., with a registered capital of 1 billion RMB as of June 9, 2023[23]. - The company has a 49.059% stake in Changcheng Fund Management Co., Ltd.[23]. Governance and Compliance - The company is committed to improving its governance structure by adhering to relevant laws and regulations, ensuring transparency and accountability[112]. - The board of directors consists of 12 members, with 8 non-independent directors and 4 independent directors, serving a term of 3 years[115]. - The company has implemented a comprehensive internal management system to monitor and manage operational risks effectively[107]. - The company has established a robust framework for cash flow measurement and analysis to manage liquidity under normal and stressed scenarios[106]. - The company has a dedicated compliance officer and chief risk officer, ensuring adherence to regulations and risk management[134]. Future Strategies - The company aims to enhance its financial services in support of the "3060" dual carbon goals, emphasizing green finance and technological innovation[40]. - The company plans to enhance its wealth management business by building a digital operation system centered on "digital customers, digital employees, digital products, and digital advisory" in 2024[50]. - The company aims to achieve its annual profit target and avoid major risk events in 2024, focusing on talent development and brand building[48]. - Future strategies include expanding market presence and exploring potential mergers and acquisitions to drive growth[68]. Shareholder Engagement - The company conducted 3 shareholder meetings, 9 board meetings, and 5 supervisory meetings during the reporting period, ensuring compliance with legal and regulatory requirements[112]. - The company actively engaged with investors through various channels, including hosting online performance briefings and responding to 84 investor inquiries[124]. - The annual shareholders' meeting had a participation rate of 69.0474% on June 16, 2023[132]. Employee Management - The total number of employees at the end of the reporting period is 3,170, with 2,930 from the parent company and 240 from major subsidiaries[167]. - The professional composition includes 1,885 brokerage business personnel, 268 investment banking personnel, and 155 technical personnel[168]. - The company has a strict salary policy that includes basic salary, performance bonuses, and various benefits, ensuring competitive salary levels[170]. Dividend Policy - The profit distribution plan approved by the board is a cash dividend of 1.15 RMB per 10 shares, totaling approximately 463,000,000 RMB[2]. - The total cash dividend distributed is CNY 463,959,099.94, with a payout of CNY 1.15 per 10 shares[181]. - The company has a stable profit distribution policy, prioritizing cash dividends when conditions allow[175].