弥补亏损

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突然出手!一次性抹平
中国基金报· 2025-07-17 13:13
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].
一次性甩掉“历史包袱” 国新证券61亿元填平累计亏损 未分配利润归零
Mei Ri Jing Ji Xin Wen· 2025-07-14 09:50
Core Viewpoint - Guoxin Securities plans to use risk reserves, statutory surplus reserves, and capital reserves to cover a cumulative loss of 6.121 billion yuan, aiming to eliminate negative retained earnings by the end of 2024 [1][2][5]. Financial Summary - As of December 31, 2024, Guoxin Securities reported a negative retained earnings of 6.121 billion yuan, with risk reserves and capital reserves amounting to 707 million yuan each, and capital reserves totaling 9.628 billion yuan [2]. - The company will utilize 707 million yuan from each of the general risk reserve, trading risk reserve, and surplus reserve, along with 3.999 billion yuan from capital reserves, totaling 6.121 billion yuan to offset the cumulative losses [2]. - After the 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 of 0 yuan [2]. Historical Context - Guoxin Securities, previously known as Huarong Securities, incurred a significant loss of 8.235 billion yuan in 2020 due to risk asset management issues exacerbated by the COVID-19 pandemic and market volatility [5]. - The company's operating revenue in 2020 was 1.186 billion yuan, a decrease of 63.66% year-on-year, leading to a retained earnings of -7.859 billion yuan by the end of that year [5]. - Despite a decline in net profit from 5.01 billion yuan in 2022 to 3.20 billion yuan in 2024, the company has remained profitable in recent years, gradually reducing its negative retained earnings from -7.859 billion yuan in 2020 to -6.121 billion yuan in 2024 [5]. Ownership Changes - In early 2022, China Huarong announced the transfer of 71.99% of Huarong Securities' shares to Guoxin Capital, resulting in Huarong Securities no longer being a subsidiary of China Huarong [6]. - Following regulatory approval, the company changed its name from Huarong Securities to Guoxin Securities in July 2022 [6].