"Securities giant" Oriental Fortune's revenue and net profit both fell in the first half of the year, and investment income increased by 30% year-on-year
2024-08-10
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
The "Securities King" Eastmoney Information Co., Ltd. (hereinafter referred to as "Eastmoney", 300059) saw a year-on-year (compared with the same period of the previous year) decline in both operating income and net profit attributable to shareholders of the listed company (hereinafter referred to as "net profit") in the first half of the year.
On August 9, Oriental Fortune released its 2024 semi-annual report, stating that during the reporting period, the company achieved total operating revenue of 4.945 billion yuan, a year-on-year decrease of 14%; and achieved net profit of 4.056 billion yuan, a year-on-year decrease of 4%.
During the reporting period, Eastmoney's basic earnings per share was 0.26 yuan/share, a year-on-year decrease of 3.60%. As of the end of the reporting period, the company's total assets were 263.113 billion yuan, an increase of 9.82% from the end of 2023.
In terms of main business, Oriental Fortune's 2024 semi-annual report shows that during the reporting period, based on the industry in which the customers are located, the company's securities industry operating income was 3.422 billion yuan, a year-on-year decrease of 5.20%; the information technology service industry revenue was 1.520 billion yuan, a year-on-year decrease of 28.91%, and the gross profit margin decreased by 3.62% year-on-year.
In terms of services, Oriental Fortune's financial e-commerce service revenue in the first half of the year was 1.411 billion yuan, a year-on-year decrease of 29.72%, and the gross profit margin decreased by 1.67% year-on-year.
However, in the first half of this year, due to the increase in income from securities proprietary fixed-income business, Oriental Fortune's investment income increased significantly, reaching 1.277 billion yuan, a year-on-year increase of 30.48%; the gain from changes in fair value was 362 million yuan, a year-on-year increase of 107.61%.
"During the reporting period, the company realized investment income and fair value change income totaling 1.639 billion yuan, a year-on-year increase of 42.14%. Overall, the investment style of the company's proprietary business is relatively stable. On the basis of consolidating investment allocation capabilities, the fixed income business will accelerate the development of non-directional trading and market-making services to enhance stable profitability." Oriental Fortune pointed out.
Eastmoney further stated that in the first half of 2024, Eastmoney Securities' interbank bond spot trading volume increased by 110% year-on-year, trading activity increased significantly, and market trading opportunities were effectively seized. As a comprehensive market maker in the interbank market, Eastmoney Securities has invested heavily in building bond market trading service capabilities, expanding customer channels, and empowering financial technology, and continuously broadened the breadth and depth of market-making services.
In terms of subsidiaries, the 2024 semi-annual report of Oriental Fortune shows that during the reporting period, Oriental Fortune Securities had operating income of 4.705 billion yuan and net profit of 3.074 billion yuan; Tiantian Fund had operating income of 1.417 billion yuan and net profit of 0.64 billion yuan.
"During the reporting period, East Fortune Securities deepened the construction of the wealth management ecosystem, fully utilized the advantages of digital technology, improved user experience and stickiness, enhanced its asset scale and capital strength, achieved rapid year-on-year growth in operating income and net profit, and achieved stock fund trading volume of 9.21 trillion yuan. The market share of brokerage business increased steadily year-on-year, the scale of asset management further increased, the fixed income business developed rapidly, and the market influence was further enhanced." East Fortune pointed out.
Eastmoney further pointed out that during the reporting period, Tiantian Fund launched 19,400 fund products from 156 public fund managers. During the reporting period, the company's Internet financial e-commerce platform achieved a total of 86.0331 million fund subscription (subscription) (including fixed investment) transactions, with fund sales of 851.382 billion yuan, of which non-monetary funds achieved a total of 54.3279 million subscription (subscription) (including fixed investment) transactions, with sales of 499.664 billion yuan. As of the end of the reporting period, Tiantian Fund's cumulative fund sales amounted to 10.86 trillion yuan.
During the reporting period, Eastmoney continued to increase its investment in research and development, including financial big models. In the first half of 2024, Eastmoney invested 556 million yuan in research and development, a year-on-year increase of 9.85%, accounting for 11.2% of total operating income, an increase of 2.44% over the same period last year.
"Since the beginning of this year, the company's AI layout has continued to deepen, and the company's independently developed 'Miaoxiang' financial model has made new breakthroughs in technical capabilities and product application effects." Eastmoney said, "On the one hand, the company keeps up with the forefront of technology and continuously promotes the iteration and upgrading of model capabilities. During the reporting period, the company has made positive progress in multimodal derivatives and financial intelligent body construction. On the other hand, the company is firmly application-oriented and continues to deepen AI empowerment of financial scenarios."
In addition, in terms of repurchase, the 2024 semi-annual report of Eastmoney shows that the company has repurchased its shares since August 2023. As of February 26, 2024, the company has completed the share repurchase, with a cumulative repurchase of nearly 1 billion yuan. During the reporting period, with the approval of the shareholders' meeting, the company has cancelled all the repurchased shares and reduced the company's registered capital.
Tian Zhongfang, senior reporter of The Paper
(This article is from The Paper. For more original information, please download the "The Paper" APP)
