国新证券欲甩“历史包袱”，一次性抹平逾60亿亏损，频频调整人事、组织架构

Core Viewpoint - The company, Guoxin Securities, is utilizing risk reserves, statutory surplus reserves, and capital reserves to offset a cumulative loss of 6.121 billion yuan, effectively resetting its retained earnings to zero, which is seen as a move to shed the historical burdens from its predecessor, Huarong Securities [1][3][4]. Financial Summary - As of the end of 2024, Guoxin Securities reported a cumulative retained earnings deficit of -6.121 billion yuan, with general risk reserves, trading risk reserves, and surplus reserves each at 707 million yuan, and capital reserves at 9.628 billion yuan [2]. - The company plans to use 707 million yuan from each of the general risk reserves, trading risk reserves, and surplus reserves, along with 3.999 billion yuan from capital reserves, totaling 6.121 billion yuan to cover the losses [2]. - Post-loss compensation, the general risk reserve will be reduced to 170.78 yuan, trading risk reserve to 0 yuan, surplus reserve to 0 yuan, and capital reserve to 5.629 billion yuan, resulting in a retained earnings balance of 0 yuan [2]. Strategic Moves - The recent actions of Guoxin Securities, including the loss compensation, are part of a broader strategic reset following its rebranding and change of ownership, which includes two rounds of capital increases and significant adjustments in management and organizational structure within a year [1][5][10]. - The company has initiated two rounds of capital increases since last August, with plans to raise up to 1 billion shares in 2024 and an additional 2.4 billion shares in 2025, indicating a focus on strengthening its capital base [8][9]. - Guoxin Securities has also made significant changes in its management team, including the appointment of new executives and restructuring of key business departments, aimed at enhancing operational efficiency and adapting to market changes [9][10]. Performance Overview - Despite a gradual increase in revenue from 597 million yuan in 2022 to 1.751 billion yuan in 2024, the net profit has declined from 502 million yuan to 32 million yuan during the same period, highlighting ongoing financial challenges [4]. - The decision to clear historical losses is viewed as a necessary step for financial health and is expected to improve investor confidence and market perception, facilitating future business expansion and financing opportunities [4][10].