Founder Securities(SH:601901) Zhong Guo Jing Ji Wang·2025-12-29 07:10Core Viewpoint - In the first half of 2020, Founder Securities reported a decline in revenue and net profit, indicating challenges in its financial performance amidst a competitive market environment [1][2]. Financial Performance - The company achieved an operating income of 3.393 billion yuan, a year-on-year decrease of 5.45% [1]. - The net profit attributable to shareholders was 642 million yuan, down 15.95% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 663 million yuan, a decrease of 14.13% [1]. - The net cash flow from operating activities was 4.988 billion yuan, a significant drop of 76.64% [1]. - Total assets amounted to 128.088 billion yuan, a decrease of 6.23% from the end of the previous year [1]. - Total liabilities were 88.450 billion yuan, down 8.92% from the end of the previous year [1]. - The asset-liability ratio was 55.59%, a reduction of 6.64 percentage points compared to the end of the previous year [1]. - The weighted average return on equity was 1.66%, down 0.34 percentage points year-on-year [1]. Business Segments - Brokerage and credit trading income was 2.659 billion yuan, a decrease of 1.75% year-on-year, with an operating profit margin of 58.69%, up 6.81% [2]. - Proprietary investment income was 596 million yuan, down 12.93%, with an operating profit margin of 110.78%, an increase of 23.74% [2]. - Asset management income was 175 million yuan, a significant decrease of 47.44%, with an operating profit margin of 70.58%, down 6.58% [2]. - Investment banking income was 298 million yuan, an increase of 9.61%, with an operating profit margin of 47.39%, up 25.06% [2]. - The company completed 98 bond underwriting projects with a total scale of 36.554 billion yuan, ranking 17th in company bond underwriting [2]. Employee and Compensation - As of June 30, 2020, the company had 6,734 employees, including 12 senior management personnel [4]. - The average salary per employee for the first half of 2020 was 218,800 yuan [4]. - The company paid 1.757 billion yuan to employees during the reporting period, compared to 1.466 billion yuan in the same period last year [4]. Legal Matters - The company reported 14 ongoing litigation or arbitration matters, none of which exceeded 10% of the latest audited net assets [4][5]. - Significant legal disputes include a financing dispute involving 16.53 million yuan and a contract dispute with Zhengquan Holdings involving 427 million yuan [8][9].