西部证券(002673) - 002673西部证券投资者关系管理信息20250519

Group 1: Financial Performance - As of December 31, 2024, the company's audited net assets were CNY 29.015 billion, with a loan balance of CNY 36.998 billion, which increased to CNY 51.558 billion by April 30, 2025, representing a cumulative increase of CNY 14.56 billion, accounting for 50.18% of the previous year's net assets, exceeding the 40% warning line [1] - In 2024, the company achieved operating income of CNY 6.712 billion, a year-on-year decrease of 2.64%, while net profit attributable to shareholders increased by 20.38% to CNY 1.403 billion [3] - The company's self-operated investment income rate was -3.2% in 2024, which was 5.1 percentage points lower than the industry average [2] Group 2: Business Operations - The company’s credit business revenue in 2024 was CNY 499 million, maintaining stability despite a year-on-year decrease of 25.8% in interest income [2] - The asset management business generated revenue of CNY 168.036 million in 2024, reflecting a year-on-year increase of 52.23% [4] - The company’s financing and securities business net income decreased by 19.7%, while customer deposit balances grew by 12.3% [3] Group 3: Market Position and Strategy - The company’s capital leverage ratio decreased to 11.7%, approaching the regulatory warning line, indicating potential risks from rapid business expansion or limited capital replenishment channels [5] - The company’s digital transformation efforts included a technology investment of CNY 285 million, accounting for 8.96% of 2023 revenue, with a digital penetration rate of less than 40% [5] - The company’s investment banking revenue decreased by 42.3%, with its IPO underwriting market share dropping out of the top 20 [6] Group 4: Risk Management and Compliance - In 2024, credit impairment losses surged by 217% to CNY 380 million, with 65% attributed to the impairment of repurchased financial assets [4] - The company’s operating expenses included business and management fees accounting for 71.3%, a 5 percentage point increase from the previous year [4] - The company has established a credit risk management system aligned with its strategic goals to balance risk and return [5]