Content
Overview
Markets | Results Review
Financial Review
Revenue Breakdown | Balance Sheet | Liquidity Management Investor Return | Credit Ratings
Business Development
Wealth Management | Product Innovation | Corporate Finance | Institutional Services | Regional Collaboration | Sustainable and Green Finance | Outlook
Appendix
Organizational Structure | Milestone | Shareholding Structure Licenses | Awards
Markets: Recovery and Volatility Coexist
▪ Continuous impacts from uncertainties
▪ Certain industries showed signs of recovery, yet market remained cautious
Data sources: Bloomberg, Guotai Junan International, for reference only 1: Data for 2024
▪ Investment-grade bond issuance price index rose 1.5%
▪ Global interest rates remained high
Results Overview: Overall Growth in Revenue and Profit, Maintain High Dividend Payout Ratio
Revenue (By Income Nature)
Revenue (By Segment)
Assets
Commission and fee income
increased by 26% to HK$872 million.
Commission from brokerage business
2022
2023
2024
Profit after tax increased by 73%
348
201
80
increased by 17% to HK$512 million, commission from placing, underwriting and sub-underwriting increased by 80% to HK$255 million
Interest income increased 28% to
HK$2,314 million. Interest income from
fixed income securities increased by
188% to HK$553 million
Net trading and investment income
rose 72% to HK$1,236 million. Net
income from financial products increased
by 20% to HK$912 million, trading and
investment business showed outstanding
performance with net income of HK$324
million
Revenue from wealth management segment up 3% to HK$1,919 million.
Assets under custody and commission income both increased significantly
Revenue from institutional investor services up 90% to HK$1,921 million.
Interest income and net income from financial products increased
Revenue from corporate finance services up 61% to HK$319 million.
Commission from placing, underwriting
and sub-underwriting increased
Revenue from up 72% to HK$264 million. Increased the holdings in fixedincome securities with low risk, high ratings and liquidity with reasonable returns, resulting in a net investment income of HK$221 million, an increase
of 60% YOY
Total assets increased by 21% to HK$130.2 billion
Total equity increased
to HK$15 billion
Financial Assets Held for Trading and Investment: the balance increased
significantly by 96% to HK$39.1 billion
2022
2023
2024
Revenue Breakdown (By Nature): Diversified Development Has Achieved Remarkable Results Revenue Breakdown (By Segment): Dual Driving of Wealth Management and Institutional Finance
Institutional Finance: 51%
Institutional finance focuses in two key areas: institutional investor services and corporate finance services, which include:
(1) Institutional investor services provide market making, investments, structured product solutions, financing and other services to corporations, governments and financial institutions, and include Group investments to support the above services;
(2) Corporate finance services provide advisory services, placing and underwriting services of debts and equity securities.
Revenue reached HK$2.239 billion, up 85%
Investment Management: 6%
Investment management provides asset management and fund management services to institutions and individuals, and also includes investment in funds, debts and equity securities
Revenue reached HK$ 264 million, up 72%
2023
2024
2023
2024
2023
2024
Balance Sheet: Client Demand Driven, Asset Quantity and Quality Rise Together
HKD'000
Assets
Loans and advances to customers
Receivable from agreements Accounts receivable reverse repurchase
Prepayments, deposits and other receivables
Financial products held on behalf of clients
Financial assets
Derivative financial instruments Tax recoverable
Client trust bank balances Cash and cash equivalents Other assets
Total assets Liabilities Accounts payable
Other payable and accrued liabilities Derivative financial instrument Interest bearing borrowings Debt securities in issue
- At amortized cost
- Designated as at fair value through P&L Financial liabilities at fair value through P&L Obligations under repurchase agreements Tax payable
Total liabilities
Equity
Ordinary shareholders' equity
Non-controlling interest
31 December 2024
Contribution1
7,746,401
31 December 2023
Contribution1
5.95%
9,982,509
5,761,594 5.36%
7.67%
11,096,370
739,579 0.69%
8.53%
218,937
8,391,475 7.80%
0.17%
40,253,876
219,685 0.20%
30.92%
39,057,188
48,535,137 45.13%
30.01%
1,756,540
19,970,416 18.57%
1.35%
29,821
1,935,260 1.80%
0.02%
12,054,082
70,5250.07%
9.26%
7,204,149
13,750,018 12.79%
5.53%
773,276 130,173,149
7,407,815 6.89%
0.59% 100.00%
19,714,804
753,649 0.70%
107,535,153 100.00%
17.12%
818,305
0.71%
18,048,359 19.50%
663,647 0.72%
2,058,129
1.79%
1,693,575 1.83%
5,956,800
5.17%
9,939,421 10.74%
48,358,252
41.99%
45,763,712 49.44%
10,589,604
9.20%
5,953,747 6.43%
37,768,648
32.79%
39,809,965 43.00%
3,122,085
2.71%
2,432,272 2.63%
35,113,555
30.50%
14,027,595 15.15%
4,516 115,146,446
0.00% 100%
4,574 0.00%
92,573,155 100.00%
14,914,657
99.25% 0.75%
14,839,473 99.18%
112,046
122,525 0.82%
Total equity
15,026,703
100.00%
14,961,998 100.00%
1. Rounded; 2.Including cash, accounts receivable and receivable from reverse repurchase agreements, etc.
Assets Distribution 31 Dec 2024
Total Assets
Liquidity Management: Sufficient Credit Lines to Maintain Sound and Stable Liquidity
Investor Return: Investor-oriented Approach, All-Cash Dividends Since Listing, Share Repurchase Plan
profit attributable to ordinary equity holders
*Excludes special dividend paid in 2022, totaling HK$287 million
dividend payout ratio
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