Orient Securities Company (600958) Q4 2023 earnings summary

Executive summary

• 2023 operating revenue was RMB17.09bn and net profit RMB2.754bn; revenue and profit declined YoY, while total assets increased 4.24%.

• Strategic priorities include transforming the three core business lines, improving business quality and management, and pursuing stable, high-quality development.

Financial highlights

• Operating revenue was RMB17.09bn in 2023, down 8.75% YoY; net profit was RMB2.754bn, down 8.53% YoY.

• Total assets reached RMB383.69bn at Dec. 31, 2023, up 4.24%; net assets were RMB78.746bn, up 1.76%.

Outlook and guidance

• Next-phase priorities are integrated financial services, upgrading the three main business lines, improving business quality, and strengthening core capabilities and management systems.

• The operating approach emphasizes customer-, goal-, development- and problem-oriented execution, stronger traditional advantages, and stable, high-quality development.