投行、机构业务营收降幅超20% 光大证券退出“百亿营收俱乐部”

Core Viewpoint - In 2024, the overall performance of listed securities firms is recovering, but there is still significant internal differentiation, with some firms exiting the "100 billion revenue" club [1] Group 1: Financial Performance - In 2024, Everbright Securities achieved operating revenue of 9.598 billion yuan, a year-on-year decrease of 4.32%, and a net profit attributable to shareholders of 3.06 billion yuan, down 28.39% [1] - The decline in net profit is primarily due to a non-recurring gain of 2.15 billion yuan from a previous settlement agreement by a subsidiary [1] - The wealth management business, which is the largest contributor to revenue, showed relatively stable performance despite declines in investment banking and institutional business revenues [1] Group 2: Business Segment Performance - The corporate financing business cluster's revenue decreased by 23% to 900 million yuan, while the institutional client business cluster's revenue fell by 21% to 1.1 billion yuan [2][5] - The A-share equity financing market saw a significant decline in 2024, with total equity financing of 288.072 billion yuan, down 72.88%, and IPO financing down 81.24% [2] - The debt financing business, however, grew by 20.50% to 86.126 billion yuan, with notable increases in technology and green industry underwriting [3] Group 3: Wealth Management and Brokerage - The wealth management business cluster accounted for 49% of total revenue, generating 4.8 billion yuan, a slight decrease of 1% [9] - The number of clients reached 6.46 million, an increase of 10%, with total client assets growing by 8.5% to 13.7 trillion yuan [9] - Brokerage fee income increased by 8.0% to 2.99 billion yuan, and income from selling financial products rose by 8.4% to 530 million yuan [9] Group 4: Future Outlook - For 2025, the company plans to focus on customer-centric strategies to enhance asset preservation and growth, while also improving professional service capabilities [10] - The company aims to strengthen its client base and enhance its wealth management transformation, particularly in overseas markets [10]