Hongta Securities(SH:601236)2022-11-19 02:40Group 1: Financial Performance - In 2020, the company's securities investment business achieved revenue of 222,130.01 million yuan, a year-on-year increase of 48.12% [3] - The asset management business generated revenue primarily from product management fees [3] - The retail and online financial business realized revenue of 21,876.66 million yuan, growing by 35.64% [4] - The fund management business achieved revenue of 23,112.43 million yuan, with a year-on-year growth of 64.52% [5] - The investment banking business generated revenue of 15,881.48 million yuan, an increase of 264.31% year-on-year [5] Group 2: Business Strategy and Development - The company aims to transform into a comprehensive securities firm with a diverse range of services and stable profitability within three years [4] - The self-operated business contributed approximately 70% of the total operating profit in 2020 [4] - The company is focusing on high-quality development and expanding new business areas in line with regulatory policies and industry experience [4] - The company is currently in the process of establishing a securities research institute, which has not yet covered the entire industry [3] Group 3: Risk Management and Response - Following the default of Yongmei Coal's bonds, the company actively communicated with the bond issuer and participated in bondholder meetings to negotiate an extension agreement [1] - The company has received 50% of the principal and all interest for the Yongmei CP001 bonds, with no risk events reported for other bonds to date [3] Group 4: Future Outlook - The company plans to disclose its Q1 2021 report on April 29, 2021 [3] - The company is preparing for a significant IPO year, with several ongoing IPO projects [5] - The company currently has 60 brokerage branches and will continue to open new branches as needed [6]