差异化路线下核心业务线暴增 第一创业、北京国管业务协同度或还将上升

Core Viewpoint - In 2024, the company focuses on its core responsibilities and business collaboration, enhancing its functional positioning and financial service capabilities, leading to a comprehensive improvement in operational performance [1] Business Performance - The total assets of the company reached 52.742 billion yuan, an increase of 16.48% year-on-year, while the net assets attributable to shareholders grew by 10.02% to 16.306 billion yuan [4] - The company achieved total operating revenue of 3.532 billion yuan, a year-on-year increase of 41.91%, and a net profit attributable to shareholders of 904 million yuan, up 173.28% [4] - The significant growth in revenue is attributed to surges in self-operated and investment banking businesses, with investment income increasing by 175.75% [4] Business Segments - The self-operated investment and trading business saw total revenue increase by 688 million yuan, driven by higher investment returns [3] - Fixed income business revenue also rose by 207 million yuan, primarily due to increased net income from bond trading [3] - Investment banking revenue surged by 92.56%, mainly from underwriting and sponsorship services [3] Strategic Focus - The company emphasizes a differentiated development strategy, particularly in fixed income and investment banking, with a focus on the North Exchange [5][6] - In 2024, the company completed two IPO projects on the North Exchange and one on the Growth Enterprise Market, with an underwriting scale of 1.071 billion yuan, ranking 14th in the industry [6] - The company’s bond trading volume reached 7.4 trillion yuan, with a market-making volume of 2.29 trillion yuan in the interbank market [5] Management and Personnel Changes - The company appointed Qing Meiping as the Executive Vice President and Chen Xingzhu as Vice President, both bringing extensive experience in investment banking [1][2] Future Outlook - The company aims to enhance its comprehensive financial service capabilities driven by asset management and investment banking, aligning with national strategies such as the Beijing-Tianjin-Hebei coordinated development [8]