SITI(SZ:000563) Xin Hua Wang·2025-08-12 05:47Core Viewpoint - Shaanxi Guotou A reported significant growth in revenue and net profit for the year 2023, driven by transformation and innovation in its business model [1] Company Performance - The company achieved total operating revenue of 2.735 billion yuan, a year-on-year increase of 42.03% [1] - Net profit attributable to shareholders reached 1.089 billion yuan, up 30.05% year-on-year [1] - Net profit after deducting non-recurring gains and losses was 1.045 billion yuan, reflecting a 39.56% increase [1] - The company’s trust asset scale reached 543.261 billion yuan, with a year-on-year growth of 91.73% [1] Business Strategy - The company utilized the additional capital from its private placement to enhance the return on its own assets and promote the development of its core business towards specialization [2] - The asset management trust scale surpassed 200 billion yuan, while the asset service trust focused on core clients reached 300 billion yuan [2] - The company provided 49.62 billion yuan in funding for key projects in Shaanxi Province, supporting various significant infrastructure initiatives [2] Industry Overview - The trust industry showed stable performance, with the total trust asset scale reaching 22.64 trillion yuan by the end of Q3 2023, an increase of 7.45% year-on-year [3] - Trust companies reported a total operating income of 65.123 billion yuan for the first three quarters of 2023, a decrease of 3.31% year-on-year, while total profit increased by 6.61% to 40.620 billion yuan [3] - The income structure indicated a decline in trust business revenue, which accounted for 59.48% of total income, down 21.84% year-on-year, highlighting the need for improvement in the main business [3]