Dongxing Securities (601198) H2 2024 earnings summary

Executive summary

• Revenue reached RMB 9.37 billion, up 97.89% year-over-year; net profit attributable to shareholders was RMB 1.54 billion, up 88.39%.

• Total assets at year-end were RMB 105.23 billion, up 5.99% from the previous year; net assets were RMB 28.40 billion, up 4.76%.

• Major business lines saw strong growth, especially in investment trading and futures; period marked by robust risk management and compliance.

• Cash dividend payout for the year was RMB 465.47 million, representing 30.14% of net profit.

• Audit opinion was standard unqualified; no material misstatements or regulatory violations.

Financial highlights

• Operating income: RMB 9.37 billion, up 97.89% year-over-year.

• Net profit attributable to shareholders: RMB 1.54 billion, up 88.39% year-over-year.

• Basic and diluted EPS: RMB 0.478, up 88.19% year-over-year.

• Net capital at year-end: RMB 23.89 billion, risk coverage ratio 285.19%.

• Cash flow from operations: -RMB 10.16 billion, mainly due to increased trading activity.

Outlook and guidance

• 2025 focus on high-quality growth, digital transformation, and deepening group synergy.

• Strategic emphasis on “Big Investment Banking, Big Asset Management, Big Wealth Management.”

• Plans to further develop cross-border business, strengthen risk management, and enhance product innovation.