Core Viewpoint - Huatai Securities has demonstrated impressive performance in recent years, achieving significant revenue and profit growth, driven primarily by its international business expansion and wealth management services [1][2][5]. Financial Performance - In 2024, Huatai Securities reported operating revenue of 41.466 billion yuan, a year-on-year increase of 13.37%, and a net profit attributable to shareholders of 15.351 billion yuan, up 20.40% year-on-year [1][5]. - The company has outperformed the industry average for three consecutive years, with revenue growth rates exceeding the industry average by 5.88 percentage points in 2022 and 11.42 percentage points in 2023 [1][2]. - The operating revenue in 2023 was 36.578 billion yuan, reflecting a 14.19% increase from the previous year, while the net profit for the same year was 12.751 billion yuan, also up 14.19% [5]. Market Position - Huatai Securities has improved its ranking in the industry, moving from fourth place in 2022 to third place in 2024 in terms of operating revenue [2][5]. - The company’s international business has become a significant driver of its revenue growth, contributing 14.34 billion yuan in 2024 [6][7]. International Business Expansion - The international business strategy has been a long-term effort, with Huatai Securities establishing a comprehensive financial service system across multiple regions, including mainland China, Hong Kong, Europe, the United States, and Singapore [7][8]. - The company has made significant strides in the U.S. and London markets, obtaining various licenses and expanding its service offerings, including FICC business and underwriting for companies entering the U.S. capital market [9]. Wealth Management Services - Wealth management services generated revenue of 16.939 billion yuan in 2024, marking a 7.75% increase from 2023, and are the largest revenue source for Huatai Securities [12]. - The company has leveraged its brokerage strengths to enhance its wealth management capabilities, focusing on personalized investment advisory services and a diversified product offering [12][16]. Technological Integration - Huatai Securities has integrated technology into its operations, enhancing its international business and wealth management services through self-developed platforms and AI capabilities [11][16]. - The company has focused on improving customer service and operational efficiency through AI-driven solutions, including smart investment research and automated client onboarding processes [16].

Core Viewpoint - The company aims to leverage technology and customer-centric strategies to enhance wealth management and institutional services, while capitalizing on opportunities from capital market reforms and financial openness in 2024 [1][2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 41.466 billion yuan and a net profit attributable to shareholders of 15.351 billion yuan [1]. - The company announced a dividend of 3.7 yuan per 10 shares, totaling 5.237 billion yuan for the year [1]. Group 2: Service to Technology Innovation - The company has served over 270 technology innovation enterprises since 2012, with a total market value of approximately 9.47 trillion yuan [2]. - In 2024, the company ranked second in A-share IPO underwriting with a scale of 8.5 billion yuan, while leading in the underwriting scale for the Sci-Tech Innovation Board and the Growth Enterprise Market [2]. - The total bond underwriting scale reached 1.296 trillion yuan, ranking third in the industry [2]. Group 3: Global Financial Services Expansion - The company has maintained a strong position in the Hong Kong market, ranking third in the number of IPO sponsorships and underwriting scale among Chinese brokers [3]. - The company is expanding its international business, having obtained new underwriting qualifications in various global markets, including the Tokyo PRO-BOND market and the Nasdaq [3]. Group 4: Technological Support for International Business - The company has launched a global trading platform (GTP) to support its international operations, connecting major markets 24/7 [4]. - In 2024, the research department produced 587 overseas research reports, a 96% increase year-on-year, covering multiple regions [4]. Group 5: Business Transformation Driven by Technology - The company is focusing on technology to drive business transformation, enhancing its service capabilities for institutional clients [5]. - By the end of 2024, the company ranked second in the industry for various fund sizes, including equity funds and non-monetary market funds [5][6]. - The company has become one of the first brokers to participate in the "Cross-Border Wealth Management Connect 2.0" pilot program [6]. Group 6: Commitment to Sustainable Development - The company improved its MSCI ESG rating from AA to AAA in 2024, achieving the highest rating in the global investment banking industry [6]. - The company actively invests in social initiatives, including rural revitalization and environmental protection, and received a 5A rating in a social organization evaluation [6].