ANNUAL REPORT 2024 年報 穩健領先 Guotai Junan International Holdings Limited Find us 關注我們 國泰君安國際控股有限公司 ANNUAL REPO R T 年報 2 0 2 4 持續強化核心業務能力， 鑄造綜合性金融服務平台 Continuously Enhancing Core Business Capabilities, Forging Integrated Financial Service Platform 數智化財富管理 Digital Intelligent Wealth Management 高質量機構服務 High-Quality Institutional Services 全週期企業融資 Full-Cycle Corporate Finance 多元化產品創新 Diversified Products Innovation 個性化區域聯動 Featured Regional Collaboration 可持續綠色金融 Sustainable and Green Finance 目錄 財務報表 | 獨立核數師報告 | 10 ...

Summary of Conference Call Company Overview - The conference call was held by Guotai Junan International, focusing on the financial performance and business development for the year 2024 [1][2]. Key Industry Insights - The Hang Seng Technology Index showed strong performance, with a cumulative increase of 18.7% for the year, indicating a significant rise in market activity [2]. - The Hong Kong stock market saw an increase in daily trading volume, with a year-on-year growth of over 25% [2]. - In the IPO market, 71 companies were listed, raising a total of HKD 87.5 billion, marking a nearly 90% increase from 2023 [2]. Financial Performance Highlights - The company reported a 73% year-on-year increase in net profit, reaching HKD 3.48 billion [3]. - Total assets at the end of 2024 amounted to HKD 130.17 billion, a 21% increase from the end of 2023 [3][13]. - The company maintained a dividend payout ratio of 88%, with a total dividend of HKD 3.2 per share for the year [3][7]. Revenue Breakdown - Commission income rose by 11% to HKD 512 million, driven by increased trading volumes in the Hong Kong stock market [4]. - Revenue from fixed income securities increased significantly, with interest income rising by 188% to HKD 553 million [4]. - The company’s trading and investment net income grew by 72% to HKD 1.236 billion [4]. Asset Management and Investment Strategy - The company has shifted its asset allocation strategy to focus on high-rated, high-liquidity fixed income securities, resulting in a 96% increase in financial assets to HKD 39.1 billion [3][4]. - The company’s financial products business saw a 20% increase in net income, reaching HKD 912 million [4]. Cost Management and Financial Health - The company acknowledged an increase in costs, particularly in financing and employee expenses, but emphasized ongoing efforts to manage these costs effectively [14][15]. - The company’s liquidity position remains strong, with over HKD 62.7 billion in funding resources and a bank credit balance of HKD 38.682 billion at year-end [6]. Future Outlook and Strategic Initiatives - The management expressed confidence in the long-term performance and plans to continue expanding its wealth management services, particularly in response to market conditions [17][21]. - The company is focusing on digital wealth management solutions and has developed a system offering 120 different financial products [21][22]. - The management anticipates a favorable market environment for 2024, driven by increased demand for financial services and products [24]. Additional Insights - The company is positioned as a leading issuer of structured products and has maintained a strong credit rating, receiving stable outlooks from Moody's and S&P [7][10]. - The management highlighted the importance of market conditions and investor sentiment in shaping future business strategies, particularly in light of potential interest rate changes by the Federal Reserve [19][20]. This summary encapsulates the key points discussed during the conference call, providing insights into the company's performance, strategic direction, and market outlook.

國泰君安國際控股有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附屬公司（「本 集團」）截至2024年12月31日止年度的經審核綜合業績，連同上一財政年度的比較數據如下： 財務摘要 | | 2024年 | 2023年 | 變動 | | --- | --- | --- | --- | | 業績 | | | | | 收入（千港元） | 4,421,609 | 3,217,372 | 37% | | －佣金及費用收益 | 871,755 | 689,574 | 26% | | －利息收益 | 2,314,006 | 1,810,154 | 28% | | －交易及投資淨收益 | 1,235,848 | 717,644 | 72% | | 普通股股東應佔溢利（千港元） | 347,783 | 201,261 | 73% | | 股息（千港元） | 305,260* | 191,078 | 60% | | 派息比率 | 88% | 95% | (7個百分點) | | 股東權益回報率 | 2.3% | 1.4% | 0.9個百分點 | | 每股 | | | | | 每股基本盈利（港仙） | 3.6 | 2.1 ...

安國際 成示 GUOTAI JUNAN INTERNATIONAL Stock Code 股份代號 = 1788 HK ● ● ● : - - ● ● ", " . . ● ● ● ● ● . . ● - : . @ . . . . . . ..... . . ● ● ● ● � ● ● ● � ● . ● l ● 0 . . ● ● o ● ● the sub . EADY 穩健發展 IROWT INTERIM REPORT 2024 中期報告 目錄 公司資料 2 財務摘要 3 管理層討論與分析 4 其他資料 14 中期財務報告審閱報告 38 綜合損益及其他全面收益表 40 綜合財務狀況表 41 綜合權益變動表 44 簡明綜合現金流量表 46 中期財務報告附註 48 詞彙 98 ● . 國泰君安國際 | 2024中期報告 公司資料 | --- | --- | |-----------------------------------------------------|--------------------------------------------| | 董事會 | ESG 委員會成員 傅廷美博士 （ ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示概不就因本公告全部或任何部分內容而產生，或因依賴該等內容而引致的任何損失承擔任何責任。 * 按2024年6月30日已發行9,553,994,707股本公司股份減去截至本公告日期已購回但尚未被註銷的6,019,000股本 國泰君安國際控股有限公司 （於香港註冊成立之有限公司 ） （股份代號：1788） 截至2024年6月30日止6個月 未經審核中期業績公告 國泰君安國際控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司（連同其附屬公司統 稱「本集團」）截至2024年6月30日止6個月的未經審核綜合業績，連同去年同期的比較數字如下： 財務摘要 | --- | --- | --- | --- | |------------------------------|------------------------|------------------------|------------------| | | 截至 6 月 30 \n2024 年 | 日止 6 個月 \n2023 年 | 變動 ...

國泰 guotai junan International Stock Code 股份代號：1788 HK EAD 領先 ANNUAL REPORT 年報 2023 KEEP AHEAD 保持領先 持續強化核心業務能力， 鑄造綜合性金融服務平台 Continuously Enhancing Core Business Capabilities, Forging Integrated Financial Service Platform 數智化財富管理 Digital Intelligent Wealth Management 高質量機構服務 High-Quality Institutional Services 全週期企業融資 Full-Cycle Corporate Finance 多元化產品創新 Diversified Products Innovation 個性化區域聯動 Featured Regional Collaboration 可持續綠色金融 Sustainable and Green Finance 關於我們 公司概況 003 獎項 004 主席報告 006 業績及經營分析 財務摘要 008 ...

Revenue and Profit Growth - Revenue increased by 39% to HKD 3,217,372 thousand in 2023 compared to HKD 2,314,917 thousand in 2022[3] - Net profit attributable to ordinary shareholders surged by 150% to HKD 201,261 thousand in 2023 from HKD 80,381 thousand in 2022[3] - Total revenue for 2023 reached 3,217,372 thousand HKD, compared to 2,314,917 thousand HKD in 2022, representing a significant increase[23] - Revenue increased by 39% year-on-year to HKD 3.217 billion, with net profit attributable to ordinary shareholders surging 150% to HKD 201 million[43] - Net profit for the group rose to HKD 206.11 million in 2023, compared to HKD 83.04 million in 2022, reflecting improved performance across most segments[17][18] Segment Performance - Wealth Management segment revenue increased to HKD 1,855.91 million in 2023, up from HKD 1,271.27 million in 2022, driven by higher interest income and commission fees[17][18] - Institutional Investor Services segment revenue decreased to HKD 1,010.41 million in 2023 from HKD 1,329.51 million in 2022, primarily due to lower trading and investment gains[17][18] - Corporate Finance Services segment revenue declined to HKD 197.69 million in 2023 from HKD 287.02 million in 2022, reflecting reduced commission and fee income[17][18] - Investment Management segment turned profitable with revenue of HKD 153.36 million in 2023, compared to a loss of HKD 572.87 million in 2022, driven by improved trading and investment performance[17][18] - Wealth management division revenue increased by 46% to HKD 1.856 billion (2022: HKD 1.271 billion), while institutional investor division revenue decreased by 24% to HKD 1.01 billion (2022: HKD 1.33 billion)[52] - Corporate finance division revenue decreased by 31% to HKD 198 million (2022: HKD 287 million), and investment management division turned a profit of HKD 153 million (2022: loss of HKD 573 million)[52] Interest Income and Financial Products - Interest income rose by 22% to HKD 1,810,154 thousand in 2023 from HKD 1,486,261 thousand in 2022[3] - Bank and other interest income surged to 1,166,075 thousand HKD in 2023, up from 391,854 thousand HKD in 2022[23] - Interest income increased by 22% to HKD 1.81 billion (2022: HKD 1.486 billion), driven by a 198% surge in interest income from banking and other sources to HKD 1.166 billion[51] - Net revenue from financial products rose 85% year-on-year to HKD 760 million, driven by global interest rate hikes and increased client demand[43] - Trading and investment turned a profit of HKD 718 million (2022: loss of HKD 37.49 million), with financial product income up 85% to HKD 760 million[51] Assets and Liabilities - Total assets grew by 14% to HKD 107,535,153 thousand in 2023 from HKD 94,455,086 thousand in 2022[3] - Total current assets increased to HKD 89,812,402 thousand in 2023 from HKD 77,672,831 thousand in 2022[5] - Total liabilities rose to HKD 77,926,518 thousand in 2023 from HKD 66,492,350 thousand in 2022[6] - Total assets increased by 14% to HKD 107.53 billion (2022: HKD 94.46 billion), while total liabilities increased by 16% to HKD 92.57 billion (2022: HKD 79.52 billion)[54][55][56] - Current assets increased by 16% to HKD 89.81 billion, with cash and cash equivalents at HKD 7.408 billion (2022: HKD 7.757 billion)[58] Dividends and Shareholder Returns - Total dividends doubled to HKD 191,078 thousand in 2023 from HKD 95,608 thousand in 2022[3] - The company proposed a final dividend of 0.01 HKD per ordinary share for 2023, totaling 95,539 thousand HKD[27] - The company proposed a final dividend of HKD 0.010 per share for the year ending December 31, 2023, bringing the total annual dividend to HKD 0.020 per share[62] Earnings and Share Performance - Earnings per share (basic and diluted) increased by 163% to HKD 2.1 cents in 2023 from HKD 0.8 cents in 2022[3] - Basic earnings per share for 2023 were calculated based on a profit attributable to ordinary shareholders of 201,261 thousand HKD, up from 80,381 thousand HKD in 2022[30] Financial Statements and Compliance - The financial data for 2023 and 2022 is extracted from the statutory consolidated financial statements[8] - The company has submitted financial statements for the year ended December 31, 2022, and will submit for 2023 in due course[8] - The financial data is prepared in accordance with Hong Kong Financial Reporting Standards (HKFRS)[9] - The company has not applied any new standards or interpretations that are not yet effective[10] - The adoption of revised HKFRS has no significant impact on the financial statements[10] - The company will disclose information related to Pillar Two income taxes when relevant tax laws are enacted or substantially enacted[14] - The audit committee reviewed the company's accounting principles, internal controls, and financial reporting, including the annual results announcement and consolidated financial statements for the year ending December 31, 2023[66] - The external auditor, KPMG, confirmed that the financial data in the annual results announcement matched the audited consolidated financial statements for the year ending December 31, 2023[67] Operational and Strategic Highlights - The company successfully obtained key qualifications such as the first batch of overseas eligible participants for "Swap Connect" and the first batch of eligible market makers for the "HKD-RMB Dual Counter Model"[45] - Launched the "Junhong Global Connect" app and created the HKD/USD money market fund and cash management product "Wealth Treasure" to cater to client needs[46] - Completed 4 IPO sponsorship projects in Hong Kong, including Beijing SinoHytec Co., Ltd. and UBTECH Robotics Corp., and assisted 26 companies in raising funds in the stock market[48] - Issued over HKD 80 billion in sustainable finance-related projects, including 35 ESG-related bonds, and achieved operational carbon neutrality for the first time[50] - The company expects continued global economic pressure in 2024 but plans to focus on wealth management, cross-border financial services, and digital transformation to expand customer resources and diversify revenue sources[61] Costs and Expenses - Employee costs increased to 781,340 thousand HKD in 2023 from 721,499 thousand HKD in 2022[24] - Financing costs rose significantly to 1,495,006 thousand HKD in 2023 from 676,664 thousand HKD in 2022[25] - Total costs increased by 32% to HKD 3.039 billion, with financing costs up 1.2 times due to rising global interest rates[53] Loans and Receivables - Margin loans decreased to HKD 7,631,029 thousand in 2023 from HKD 8,120,943 thousand in 2022, a decline of 6.0%[32] - Term loans to customers dropped significantly to HKD 235,365 thousand in 2023 from HKD 467,662 thousand in 2022, a decrease of 49.7%[32] - Total receivables increased to HKD 8,461,351 thousand in 2023 from HKD 5,674,142 thousand in 2022, a growth of 49.1%[33] - Brokerage and dealer receivables surged to HKD 6,660,076 thousand in 2023 from HKD 3,630,107 thousand in 2022, an increase of 83.5%[33] Payables and Borrowings - Total payables rose to HKD 18,048,359 thousand in 2023 from HKD 16,726,328 thousand in 2022, an increase of 7.9%[37] - Unsecured bank borrowings increased to HKD 9,918,099 thousand in 2023 from HKD 9,305,775 thousand in 2022, a rise of 6.6%[39] Capital Commitments and Underwriting - Capital commitments for system upgrades and property renovations amounted to HKD 11,614 thousand in 2023, up from HKD 9,798 thousand in 2022[40] - No underwriting commitments were recorded as of December 31, 2023, compared to HKD 1,755 million in 2022[41] Corporate Governance and Shareholder Meetings - The company complied with all corporate governance code provisions except for the absence of the board chairman at the 2023 annual general meeting due to other official duties[64] - The company will suspend share transfer registration from May 17 to May 22, 2024, to determine shareholders' rights to attend and vote at the annual general meeting[63] - No repurchase, sale, or redemption of listed securities was conducted by the company or its subsidiaries during the year ending December 31, 2023[64] Accounting Policy Changes - The company changed its accounting policy for long service payment liabilities following the HKICPA guidance on the cancellation of the MPF-LSP offset mechanism, effective from May 1, 2025[15] - The accounting policy change resulted in a compensatory profit adjustment for service costs up to June 2022, with no material impact on the consolidated financial position as of December 31, 2022 and 2023[15] Leverage and Debt Ratios - Nominal leverage ratio increased to 6.39x (2022: 5.44x), and debt-to-equity ratio decreased to 1.06x (2022: 1.09x)[57] Foreign Exchange and Risk Management - The company's foreign exchange risk is primarily managed through back-to-back transactions with external counterparties, with minimal impact from other foreign currencies[60] Share Issuance and Capital Structure - The company's issued shares remained unchanged at 9,553,994,707 shares for the year ending December 31, 2023[59] - The company has a HKD 35 billion medium-term note program and a USD 15 billion guaranteed structured note program, with outstanding notes of HKD 7.9 billion and USD 6 billion respectively[58] Acquisitions and Disposals - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures were made during the year ending December 31, 2023[59] Commission and Fee Income - Commission and fee income decreased by 20% to HKD 690 million (2022: HKD 866 million), with brokerage income down 9% to HKD 437 million (2022: HKD 481 million) and corporate finance income down 39% to HKD 142 million (2022: HKD 233 million)[51] - Brokerage commission revenue decreased to 436,777 thousand HKD in 2023 from 481,265 thousand HKD in 2022[23] - Placement, underwriting, and sub-underwriting commission revenue dropped to 141,754 thousand HKD in 2023 from 233,437 thousand HKD in 2022[23] - Financial product fee income declined to 55,224 thousand HKD in 2023 from 79,392 thousand HKD in 2022[23] - Interest income from customer and counterparty financing decreased to 452,244 thousand HKD in 2023 from 524,366 thousand HKD in 2022[23] Comprehensive Income and Equity - Total comprehensive income for the year was HKD 225,880 thousand in 2023, a significant increase from HKD 33,847 thousand in 2022[4] - Equity increased to 14,961,998 thousand HKD in 2023 from 14,936,196 thousand HKD in 2022[7] - Retained earnings rose to 5,135,203 thousand HKD in 2023 compared to 5,114,186 thousand HKD in 2022[7] - Non-controlling interests decreased to 122,525 thousand HKD in 2023 from 129,497 thousand HKD in 2022[7] Return on Equity - Return on equity improved by 0.9 percentage points to 1.4% in 2023 from 0.5% in 2022[3] Listing and Historical Information - The company's shares were listed on the Hong Kong Stock Exchange on July 8, 2010[8]

國泰君安國際 GUOTAI JUNAN INTERNATIONAL PROGRESSIVE APPROACH INTERIM REPORT 2023 中期報告 Stock Code 股份代號 : 1788.HK 穩中求進 | --- | --- | |-------|--------------------------| | | | | | | | | 目錄 | | | 公司資料 | | | 財務摘要 | | | 管理層討論與分析 | | | 其他資料 | | | 中期財務報告審閱報告 | | | 綜合損益及其他全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 簡明綜合現金流量表 | | | 中期財務報告附註 | | | | 2 3 4 11 34 36 37 40 42 44 002 國泰君安國際 | 2023中期報告 公司資料 | --- | --- | |-----------------------------------------------|--------------------------------------------------------------- ...

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 1,543,055,000, representing a 28% increase from HKD 1,207,792,000 in the same period of 2022[3] - The net profit attributable to ordinary shareholders decreased by 26% to HKD 119,420,000 from HKD 161,251,000 year-on-year[3] - Operating profit for the period was HKD 824,294,000, up from HKD 501,245,000 in the same period last year[4] - Total comprehensive income for the period was HKD 135,618,000, compared to HKD 120,654,000 in the previous year[5] - The group reported a net profit of HKD 122,177,000 for the period, compared to HKD 163,483,000 in the previous year, indicating a decrease of about 25%[14] - The group's profit before tax for the six months ended June 30, 2023, was HKD 119,420,000, a decrease from HKD 161,251,000 in the same period of 2022, representing a decline of approximately 26%[22] Income and Revenue Sources - Interest income increased by 29% to HKD 1,189,534,000 compared to HKD 924,606,000 in the previous year[3] - Commission and fee income decreased to HKD 341,975,000 in 2023 from HKD 451,312,000 in 2022, a decline of about 24%[16] - Interest and coupon income increased significantly to HKD 1,189,534,000 in 2023, up from HKD 924,606,000 in 2022, marking a rise of approximately 29%[16] - Wealth management segment revenue rose by 59% to HKD 893 million, primarily due to increased interest and coupon income in a rising interest rate environment[43] Dividends and Payouts - The interim dividend remained stable at HKD 95,540,000, with a payout ratio of 80%, up 21 percentage points from 59% in the previous year[3] - The group declared an interim dividend of approximately HKD 95,540,000 or HKD 0.01 per share for the period ended June 30, 2023, compared to HKD 95,878,000 or HKD 0.01 per share in 2022, indicating stability in dividend distribution[21] - The company maintained a high dividend payout ratio of approximately 80%, with an interim dividend of HKD 0.01 per share[37] Assets and Liabilities - Total assets as of June 30, 2023, increased by 9% to HKD 102,803,973,000 from HKD 94,455,086,000 at the end of 2022[3] - Total current liabilities increased to HKD 74,572,711 thousand as of June 30, 2023, compared to HKD 66,492,350 thousand as of December 31, 2022, representing an increase of approximately 16.0%[7] - Total liabilities rose by 10% to HKD 87.83 billion, up from HKD 79.52 billion at the end of 2022, primarily due to an increase in issued debt securities[47] - The company’s issued debt securities increased to HKD 34,292,775 thousand from HKD 28,719,537 thousand, representing a significant rise of approximately 19.5%[7] Cash and Liquidity - Cash and cash equivalents increased to HKD 11,970,928,000 from HKD 7,756,580,000, indicating improved liquidity[6] - Cash and cash equivalents rose by 54% compared to the end of 2022, amounting to HKD 11.97 billion, indicating strong liquidity[37] - The company’s cash and cash equivalents were not explicitly detailed in the provided data, but the overall financial position indicates a focus on maintaining liquidity amidst rising liabilities[9] Expenses and Costs - Total expenses for the group included professional and consulting fees of HKD 32,826,000, down from HKD 43,006,000 in 2022, a reduction of about 23%[19] - Employee costs increased to HKD 371,535,000 in 2023 from HKD 337,345,000 in 2022, reflecting a rise of approximately 10%[17] - Financing costs surged to HKD 712,145,000 in 2023, compared to HKD 330,149,000 in 2022, representing a significant increase of about 116%[18] - Total costs increased by 38% to HKD 1.44 billion, largely due to a significant rise in financing costs, with the average Hong Kong Interbank Offered Rate (HIBOR) increasing 12.58 times to approximately 3.52%[44] Market and Strategic Initiatives - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[13] - The company aims to enhance its wealth management services by leveraging a rich overseas product line and improving customer experience through financial technology[53] - The company plans to actively promote external asset management (EAM) services and strengthen cooperation with family offices to capitalize on market opportunities in Hong Kong[53] - The company will continue to focus on risk management and improving risk-adjusted returns as a core objective for sustainable growth[53] Governance and Compliance - The company has complied with all principles and code provisions of the corporate governance code during the reporting period, except for one instance of absence at the annual general meeting[56] - The interim financial information has been reviewed by external auditors, ensuring compliance with accounting principles and internal controls[58]

JUNAN INTERNATIONAL Stock Code 殷份代號：1788.HK STEADILY STRENGTHENING 持 濃便 葡 ANNUAL REPORT 年報 2022 | --- | --- | |-------|-------| | | | | | | | | | | | | | --- | --- | --- | |------------------|--------------------------|-------| | | | | | | | | | | | | | | | 目錄 | | | | | | | | | | | | | | | | | | 關於我們 | | | | 公司概況 | | 005 | | 獎項 | | 006 | | 主席報告 | | 008 | | | | | | | | | | | 業績及經營分析 | | | | | | | 財務摘要 | | 012 | | | | | | 管理層討論與分析 | | 014 | | | | | | | | | | 企業管治 | | | | | | | | | | | | 企業管治報告 | | 024 | | | 董 ...