突然出手！一次性抹平

Core Viewpoint - Guoxin Securities has announced a plan to use 61.21 billion yuan to cover its losses, addressing historical issues from its predecessor, Huarong Securities [2][5]. Financial Recovery - As of the end of 2024, Guoxin Securities reported an undistributed profit of -61.21 billion yuan. The company plans to utilize general risk reserves (7.07 billion yuan), trading risk reserves (7.07 billion yuan), surplus reserves (7.07 billion yuan), and capital reserves (39.99 billion yuan) to fully cover this loss [2][5]. - After the implementation of this loss compensation plan, the general risk reserve will decrease to 170.78 million yuan, while trading risk reserves and surplus reserves will be zeroed out, leaving a capital reserve of 56.29 billion yuan [2]. Historical Context - Guoxin Securities, formerly Huarong Securities, reported a significant decline in revenue and a net loss of 82.35 billion yuan in 2020, with undistributed profits at -78.59 billion yuan [5]. - In 2022, a transfer of 71.99% equity from China Huarong to Guoxin Capital was approved, leading to a name change from Huarong Securities to Guoxin Securities [5]. Operational Improvement - Since its transformation, Guoxin Securities has shown improved financial performance, with net profits of 5.01 billion yuan, 4.84 billion yuan, and 3.2 billion yuan from 2022 to 2024 [6]. - The decision to address the historical losses in a single move is seen as a significant turning point for the company's financial health, allowing for better future profit distribution and shareholder returns [6]. Capital Increase Initiatives - Guoxin Securities has initiated two rounds of capital increases since August of the previous year, with plans to raise up to 1 billion shares in 2024 and an additional 2.4 billion shares in May 2025 [8][9]. - The capital increases aim to enhance the company's registered capital and capital adequacy ratio, improving its resilience against market risks [9]. Asset Trends - The total assets of Guoxin Securities have shown a declining trend over the last three years, with total assets at 361.22 billion yuan at the end of 2022, down 8.63% year-on-year, and further decreasing to 354.76 billion yuan by the end of 2024 [9].