2023-11-24 08:49Group 1: Investor Relations Activities - The company held multiple investor relations activities, including strategy meetings and performance briefings, from June to November 2023 [1][2]. - Notable events include the half-year performance briefing on September 5, 2023, and the third-quarter performance briefing on November 6, 2023 [1][2]. Group 2: Company Strategy and Competitive Advantage - The company aims to enhance its political positioning and service capabilities to support national strategies and contribute to the construction of a high-quality capital market [3][4]. - It has established significant competitive advantages through steady operations, a robust risk management system, and a comprehensive service platform [3]. Group 3: Financial Performance - For the first three quarters of 2023, the company reported operating revenue of CNY 14.871 billion, a decrease of 2.79% year-on-year, while net profit attributable to shareholders was CNY 6.402 billion, an increase of 1.90% [3]. - The return on equity (ROE) was 5.82%, a decrease of 0.05 percentage points compared to the previous year [3]. Group 4: Wealth Management and Fund Advisory - The company has made significant progress in its fund advisory business, with approximately 50,000 clients signed up and a total signed scale of CNY 16.165 billion, a growth of 67.17% compared to the end of 2022 [4][5]. - The company is focusing on enhancing its wealth management capabilities and expanding its product offerings to meet diverse client needs [5]. Group 5: Market Trends and Challenges - The company anticipates continued impacts on its investment banking business due to a tightening of IPO and refinancing activities, with a projected decline in net income exceeding 30% [6][9]. - The rapid growth of the ETF market presents opportunities for the company to develop its ETF ecosystem and enhance its wealth management services [9]. Group 6: Future Development Plans - The company plans to leverage its internal resources and focus on differentiated development paths in the public fund sector, particularly in low-risk fixed-income products [8]. - It aims to strengthen its research capabilities and transition towards a "research-driven" model to support its core business development [9].