NSC(SH:601990) Sou Hu Cai Jing·2025-04-03 09:15Core Viewpoint - Nanjing Securities reported a significant increase in revenue and net profit for the year 2024, driven primarily by growth in securities investment and brokerage services [1][4]. Financial Performance - In 2024, Nanjing Securities achieved operating revenue of 3.147 billion yuan, a year-on-year increase of 27.12%, and a net profit attributable to shareholders of 1.002 billion yuan, up 47.95% year-on-year [1][4]. - The fourth quarter of 2024 saw revenue of 779 million yuan, reflecting a year-on-year increase of 10.86% and a quarter-on-quarter increase of 12.87%. Net profit for the same quarter was 306 million yuan, up 180.26% year-on-year and 103.89% quarter-on-quarter [4]. Business Segments - The revenue growth was primarily attributed to the securities investment business, which saw a revenue increase of 34.46% [1][4]. - The securities and futures brokerage business also contributed to revenue growth, with a year-on-year increase of 12.71% [6]. Profit Distribution - Nanjing Securities announced a profit distribution plan, proposing a cash dividend of 0.08 yuan per share (including tax), totaling 295 million yuan. Combined with the mid-year dividend, the total cash dividend for 2024 will be 472 million yuan, representing 47.11% of the net profit [1][7]. Asset and Capital Metrics - As of the end of 2024, total assets reached 69.768 billion yuan, a year-on-year growth of 19.25%. Core net capital was approximately 14.725 billion yuan, up 6.95% [4]. - Key risk indicators included a risk coverage ratio of 459.96%, a capital leverage ratio of 27.49%, a liquidity coverage ratio of 327.31%, and a net stable funding ratio of 229.45% [4]. Revenue Composition - Revenue sources included investment income and fair value changes (35.24%), net interest income (25.61%), net commission income (25.27%), and other business income (13.46%). Investment income and fair value changes saw a year-on-year increase of 143.48% [7].