Core Viewpoint - The article highlights the significant growth and competitive advantage of Guotai Junan International (01788.HK) in the context of the evolving financial market in China, showcasing its strong performance compared to peers in the brokerage sector. Group 1: Performance Highlights - The company reported a revenue increase of 37% to HKD 4.422 billion and a net profit surge of 73% to HKD 348 million, outperforming the industry average where the fastest-growing peer had a profit increase of only 48% [1][2]. - The company maintained a high dividend payout ratio of 88%, with a total annual dividend of HKD 0.032 per share, reflecting its commitment to shareholder returns [3][4]. - Total assets grew by 21% to HKD 130.17 billion, indicating robust business expansion and capital strength amidst industry challenges [5]. Group 2: Future Opportunities - The company is expected to benefit from industry trends and policy incentives, particularly with the anticipated recovery in the Hong Kong stock market and the launch of the "Cross-Border Wealth Management Connect" program [6][7]. - Guotai Junan International participated in 232 bond issuance underwriting deals in 2024, a 59% increase year-on-year, with a total issuance amount of approximately HKD 389.1 billion, reflecting its strong position in the market [8]. - The company’s business structure has been optimized, with significant growth in various segments, including a 90% increase in institutional investor services revenue to HKD 1.921 billion, which now accounts for over 40% of total revenue [12][13]. Group 3: Strategic Developments - The company is actively expanding its capabilities in virtual asset brokerage and has launched new investment products, positioning itself to attract high-net-worth clients and institutional investors [12]. - The firm has increased its holdings in high-rated, high-liquidity fixed-income assets, which has contributed to substantial interest income and enhanced its wealth management offerings [12][13]. - Overall, Guotai Junan International is transitioning from a traditional brokerage to a comprehensive cross-border financial service provider, with a notable contrast in growth and dividend policies compared to its peers [14].

Core Viewpoint - The company demonstrated strong resilience and vitality in a complex market environment, achieving a significant after-tax profit increase of 73% year-on-year, with all business segments showing notable revenue growth, maintaining its leading position in the industry [1] Group 1: Wealth Management Performance - The company expanded its high-quality customer base and developed a balanced and robust diversified product matrix, resulting in a 13% year-on-year increase in commission and fee income to HKD 439 million [2] - The company received regulatory approval to conduct virtual asset brokerage services, enhancing its offerings to clients [2] - The launch of the investment-grade bond fund aligns with investors' varying risk preferences and investment goals [2] Group 2: Cross-Border Financial Services - The company focused on customer needs, leading to a 20% year-on-year increase in net income from financial products to HKD 912 million [3] - It leveraged strategic opportunities from the deepening interconnectivity between mainland China and Hong Kong, providing seamless cross-border financial services [3] Group 3: Corporate Financing Business - The company participated in 232 bond issuance underwriting projects, a 59% increase year-on-year, with a total issuance amount of approximately HKD 389.1 billion, up 85% [4] - In equity business, the company completed three IPO sponsorship projects, raising approximately HKD 1.7 billion [4] Group 4: ESG Initiatives - The company completed 78 ESG bond issuance projects, a 123% increase year-on-year, with an issuance scale of nearly HKD 163.6 billion, marking a 125% increase [5] - The company achieved carbon neutrality for the second consecutive year through its participation in carbon offset projects [5] - The company received high praise for its sustainable development efforts, improving its ESG ratings to A-level from multiple rating agencies [5] Group 5: Future Outlook - The company aims to enhance its cross-border financial service capabilities and assist high-net-worth clients in global asset allocation and wealth preservation [6] - It will focus on maintaining stable and growing market value through effective capital operations and transparent information disclosure [6]

国泰君安国际(1788.HK)公布2024年业绩：收入利润全面上升，保持高 派息比率 2024年全年业绩摘要： 按收益性质： 按业务分部： 【香港，2025年3月26日】国泰君安国际控股有限公司("国泰君安国际"或"公司"，股份代号：1788.HK，与其子公司合称"集团") 公布2024年全 年业绩。年内，集团坚持把金融服务实体经济作为根本宗旨，满足客户需求作为业务发展方向，凭借敏锐的市场洞察力与稳健、务实的经营风 格，在严格把控风险的基础上，全面提升多元化业务能力，积极推动业务创新，在复杂的市场环境中展现出强大的韧性与活力，全年经营业绩 取得优异成绩，税后利润同比大幅增长73%，各业务板块收入均显着增长，稳居行业领先地位。公司持续关注投资者回报与市值表现，保持高 派息比率，以回馈投资者的长期认可和支持。 多元驱动，财富管理创佳绩 面对不断变化的市场环境，国泰君安国际以丰富多元的产品与服务为基石，全力协助客户实现财富的保值与增值。2024年，集团大力拓展优质 客户资源，构建均衡且稳固的多元化产品矩阵，财富管理平台保持股票、债券、基金、衍生品等各类产品协同发展，推动平台迈向新高度，佣 金及费用收益同比增长13% ...