Sinolink Securities (600109) Q4 2024 earnings summary

Executive summary

• Achieved total revenue of RMB 6.66 billion in 2024, down 0.98% year-over-year; net profit attributable to shareholders was RMB 1.67 billion, down 2.80% year-over-year.

• Total assets reached RMB 120.12 billion, up 2.63% from the previous year; shareholders' equity increased 3.58% to RMB 33.73 billion.

• Proposed cash dividend of RMB 1.20 per 10 shares, totaling RMB 442.85 million, with a payout ratio of 26.51%.

• Maintained a stable business structure and strong risk control, with a capital adequacy ratio and liquidity coverage well above regulatory requirements.

Financial highlights

• Operating income: RMB 6.66 billion, down 0.98% year-over-year; net profit: RMB 1.67 billion, down 2.80%.

• Basic and diluted EPS: RMB 0.452, down 2.16% year-over-year.

• ROE: 5.04%, down 0.35 percentage points; net asset per share: RMB 9.14.

• Total assets: RMB 120.12 billion; total liabilities: RMB 86.16 billion; asset-liability ratio: 58.90%.

• Cash flow from operating activities: RMB 11.78 billion, a significant increase due to reduced investment in trading financial assets.

Outlook and guidance

• Plans to further strengthen investment banking in hard technology and new productive forces, focusing on strategic emerging industries and regional market advantages.

• Will continue to expand bond business, enhance risk management, and promote digital transformation in wealth management and institutional services.

• Expects to maintain prudent risk control, optimize capital structure, and pursue high-quality growth in 2025.