Shenwan Hongyuan Group Co (000166) Q4 2024 earnings summary

Executive summary

• 2024 revenue reached RMB 24.74 billion, up 15.04% year-over-year; net profit was RMB 6.25 billion, up 14.16%.

• Net profit attributable to shareholders was RMB 5.21 billion, up 13.12% year-over-year; basic EPS was RMB 0.21, up 16.67%.

• Total assets at year-end were RMB 697.60 billion, up 9.78%; net assets attributable to shareholders were RMB 104.78 billion, up 4.63%.

• ROE for the year was 5.08%, up 0.36 percentage points; operating expense ratio fell 4.17 percentage points to 56.80%.

• Board proposes total cash dividend of RMB 0.63 per 10 shares, with a payout ratio of 30.27%.

Financial highlights

• Operating income: RMB 24.74 billion (+15.04% YoY); net profit: RMB 6.25 billion (+14.16% YoY).

• Net profit attributable to shareholders: RMB 5.21 billion (+13.12% YoY); basic/diluted EPS: RMB 0.21 (+16.67% YoY).

• Total assets: RMB 697.60 billion (+9.78% YoY); total liabilities: RMB 564.25 billion (+11.37% YoY).

• Net cash from operating activities: RMB 26.42 billion (down 61.85% YoY).

• Adjusted net profit (excluding non-recurring items): RMB 5.07 billion (+15.63% YoY).

Outlook and guidance

• 2025 is the final year of the 14th Five-Year Plan; industry expected to see continued improvement in capital market environment.

• Company will focus on high-quality development, risk management, and digital transformation.

• Wealth management, investment banking, and asset management remain strategic priorities.

• Board proposes a continued focus on “investment + investment banking” and digital/AI-driven business innovation.