Capital Securities Co.LTD(SH:601136) Zheng Quan Ri Bao·2025-12-01 07:13Core Viewpoint - During the "14th Five-Year Plan" period, the capital market is undergoing profound changes and upgrades, with the brokerage industry transitioning from traditional channel services to comprehensive financial service providers. The company adheres to the principles of compliance, integrity, professionalism, and stability, contributing to national strategies and enhancing investor returns, achieving record highs in revenue and profit in 2024 [1]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 2.418 billion yuan, a year-on-year increase of 25.49%, and a net profit attributable to shareholders of 985 million yuan, up 40.49%, both hitting historical highs [1]. - In the first three quarters of 2025, the company continued to achieve growth in revenue and profit on the basis of last year's high base [1]. - Since its listing in 2022, the company has distributed a total of 1.189 billion yuan in dividends, maintaining a cash dividend ratio of over 30% [1]. Group 2: Business Philosophy - The company integrates the four-dimensional philosophy of "Integrity and Innovation, Transparent Operations, People-Oriented, and Win-Win Cooperation" into its operational development, providing a solid strategic support for quality improvement and efficiency enhancement [2]. - The company emphasizes compliance and risk control while innovating within the regulatory framework to explore new paths for serving the real economy [2]. - The company prioritizes customer interests and has achieved a higher ESG rating, reflecting market recognition of its transparent operations and social responsibility [2][3]. Group 3: Strategic Initiatives - The company aligns its financial resources with national strategic priorities, implementing a "quarterly supervision and annual assessment" mechanism to drive quality improvement and innovation in key areas such as technology, green finance, and inclusive finance [4]. - In the technology finance sector, the company assisted in issuing 22 technology innovation corporate bonds in 2024, raising 3.899 billion yuan, and continued to support the transformation of technological achievements into productive forces [4]. - In green finance, the company innovated a "stock-bond integration" model, supporting the issuance of a 500 million yuan bond for green warehousing facilities, effectively reducing financing costs for green industry entities [4]. Group 4: Business Collaboration - The company has optimized its organizational structure and resource integration to promote the simultaneous development of asset management, investment, investment banking, and wealth management, forming a competitive advantage [6]. - In 2024, the asset management business generated revenue of 909 million yuan, a year-on-year increase of 62.67%, with a product net value scale reaching 143.881 billion yuan [6]. - The investment banking business achieved a revenue of 196 million yuan in 2024, a growth of 65.59%, and completed the first corporate bond underwriting for the North Exchange [7]. Group 5: Social Responsibility and Investor Returns - The company emphasizes sharing development results with investors and society, maintaining a cash dividend of 410 million yuan in 2024, accounting for 41.63% of net profit attributable to shareholders [8]. - The company has invested nearly 8 million yuan in rural revitalization efforts in 2024, supporting industry upgrades in six counties and conducting various public welfare projects [8]. - The company is committed to enhancing financial services for the elderly, ensuring that financial development benefits all demographics [8]. Group 6: Future Outlook - As the company approaches its 25th anniversary in 2025, it aims to continue practicing Chinese financial culture, focusing on the "five major financial articles" to create distinctive core competitiveness and contribute to the construction of a financial power and Chinese-style modernization [9].