Guosen Securities (002736) Q2 2024 earnings summary

Executive summary

• Operating revenue for H1 2024 was ¥7.76 billion, down 5.49% year-over-year; net profit attributable to shareholders was ¥3.14 billion, down 12.56% year-over-year.

• Cash flow from operating activities surged 1,491.21% year-over-year to ¥22.55 billion, mainly due to increased net inflow from proprietary investment.

• The company maintained industry-leading positions in core business areas and continued to expand its comprehensive financial services, despite a challenging capital market environment.

• No interim dividend, bonus shares, or capital increase from reserves for the half-year period.

Financial highlights

• Operating revenue: ¥7.76 billion, down 5.49% year-over-year; net profit attributable to shareholders: ¥3.14 billion, down 12.56%.

• Basic and diluted EPS: ¥0.26, down from ¥0.31 year-over-year.

• Net assets attributable to shareholders: ¥112.62 billion, up 1.96% from year-end 2023.

• Total assets: ¥465.68 billion, up 0.59% from year-end 2023.

• Other comprehensive income: ¥2.88 billion, up 109.03% year-over-year.

Outlook and guidance

• The company will focus on high-quality development, digital transformation, and comprehensive financial services, aiming to seize opportunities from economic recovery and market reforms in H2 2024.

• Plans to strengthen regional and industry layouts, support national strategies, and maintain a stable dividend policy.