Industrial Securities(SH:601377) Xi Niu Cai Jing·2025-05-01 02:12Core Insights - The company reported a revenue increase of 16.25% in 2024, reaching 12.35 billion RMB, compared to 10.63 billion RMB in 2023 [3] - Net profit attributable to shareholders grew by 10.16% to 2.16 billion RMB in 2024, up from 1.96 billion RMB in the previous year [3] - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders [3] Financial Performance - In Q1 2025, the company achieved a revenue of 2.79 billion RMB, reflecting a year-on-year growth of 17.48%, and a net profit of 516 million RMB, which is a 57.32% increase [1] - Investment income surged to 2.30 billion RMB in 2024, marking a significant increase of 2939.75%, primarily due to gains from derivative financial instruments [2] - Other business income rose to 2.56 billion RMB, up 42.70%, driven by increased revenue from bulk commodity sales [2] Subsidiary Performance - As of the end of 2024, the total assets of the subsidiary, Xingsheng Global Fund, amounted to 10.38 billion RMB, with net assets of 7.73 billion RMB [2] - The subsidiary reported a revenue of 3.28 billion RMB, a decline of 9.19%, and a net profit of 1.41 billion RMB, down 3.21% year-on-year [2] Brokerage Business - The securities and futures brokerage business generated revenue of 3.11 billion RMB in 2024, a decrease of 3.55% compared to the previous year [2] - The company has implemented stricter signing standards for brokers, resulting in a reduction of the broker team from 241 at the beginning of 2024 to 97 by year-end, with only 2 new brokers added [2]