2022-12-06 01:40Group 1: Company Overview and Strategic Goals - The company's strategic goal is to become a globally competitive financial service provider, relying on capital markets [1][3] - In 2016, the company invested approximately $100 million in Zhejiang Commercial Bank H shares and is optimizing its investment platform layout [3] - Despite not achieving the target of supplementing the securities company's capital this year, the company remains committed to strengthening its main securities business [3] Group 2: Financial Performance and Market Challenges - The company's securities performance fluctuated throughout the year due to market influences, but the profit foundation remains solid [3] - The company has not conducted any refinancing since its listing, and its net capital strength is below that of larger brokers, which limits its development [4] - The company aims to enhance its profitability through capital market supplementation and is focused on aligning its capital needs with market demands [4] Group 3: Business Structure and Integration - Following the merger, the company has established a dual structure of a listed company and a securities subsidiary, aiming to become a leading investment holding group [5][7] - The integration of the two companies is progressing smoothly, with business coordination and resource integration gradually showing results [5] - The company is enhancing its management structure to optimize its investment platform and actively promote capital market financing [5] Group 4: Investment and Financial Services - The company is focusing on private equity fund management and utilizing its own funds to support its securities capital and diversify its financial layout [4][7] - The company is developing a comprehensive financial service platform by leveraging its securities business resources and enhancing its investment capabilities [7] - The company maintains a strong position in underwriting and financial advisory services, with a solid pipeline of IPOs and refinancing projects [6] Group 5: Future Outlook and Performance Expectations - The company anticipates that both the industry and its performance may be at a relatively low point due to market volatility [6] - Future financing efforts will primarily focus on enhancing the net capital strength of the securities company and expanding business scale [6] - The company aims to improve its overall profitability by addressing capital constraints and optimizing its information systems [6]