浙商证券2024年营收下滑10.33% 期货业务收入下降17.89%

Core Viewpoint - Zhejiang Securities reported a decline in revenue for 2024, while net profit increased, indicating a mixed financial performance amidst regulatory challenges [2][4]. Financial Performance - The company achieved a revenue of 15.82 billion yuan in 2024, a decrease of 10.33% compared to 2023 [3]. - Net profit attributable to shareholders was 1.93 billion yuan, reflecting a growth of 10.17% year-on-year [3]. - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling approximately 454 million yuan [2]. Business Segments - Futures business, the primary revenue source, generated 10.37 billion yuan, down 17.89% year-on-year [3]. - Investment banking revenue was 677 million yuan, a decline of 20.93% [3]. - Securities brokerage revenue increased by 3.53% to 3.64 billion yuan [3]. - Investment business revenue rose significantly by 35.93% to 1.15 billion yuan [3]. - Asset management revenue grew by 9.43% to 530 million yuan [3]. Regulatory Issues - The company holds a 34.25% stake in Guodu Securities, which reported a revenue of 1.80 billion yuan and a net profit of 928 million yuan in 2024 [4]. - Zhejiang Securities has faced multiple regulatory fines in 2025, including issues related to providing disguised financing services and non-compliance in internal controls [4][5]. - The China Securities Regulatory Commission mandated the company to rectify issues in its investment banking operations and issued warnings to two senior executives [5].