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Public company info - China International Capital Corporation Ltd. - H Shares , 03908.HK
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China International Capital Corporation Ltd. - H Shares, 03908.HK - Company Profile
Chairman Shen Rujun
Share Issued (share) 1,904,000,000
Par Currency Renminbi
Par Value 1.0
Industry Securities
Corporate Profile Business Summary: The group is principally engaged in investment banking business, equities business, fixed-income, currency and commodity (“FICC”) business, investment management business, wealth management business and other business activities. Performance for the year: In 2019, the Group realized total revenue and other income of RMB22,782.5 million, representing a yearon-year increase of RMB4,242.9 million or 22.9%. The Group realized profit attributable to shareholders of the Company and holders of other equity instruments of RMB4,238.7 million, representing a year-on-year increase of RMB746.6 million or 21.4%. The Group realized earnings per share of RMB0.990 in 2019, representing a year-on-year increase of 19.4%. The weighted average return on net assets was 9.6%, representing a year-on-year increase of 0.8 percentage point. Business Review In 2019, to cope with the complicated and changing macro and market environment, The group maintained sound business momentum. In line with the missions of “serving the real economy, preventing and controlling financial risks and advancing financial reforms”, The group promoted the healthy development of various businesses, further expanded The group’s international presence and continued to improve The group’s institution, so as to achieve steady and rapid growth and generate sound returns for shareholders. Financial Performance As at the end of 2019, the total assets of the Group amounted to RMB344,971.2 million, representing an increase of 25.3% compared with that at the end of 2018; net assets(note) amounted to RMB48,293.8 million, representing an increase of 14.5% compared with that at the end of 2018. The group’s Group recorded total revenue and other income of RMB22,782.5 million, increasing by 22.9% year on year; and net profit(note) of RMB4,238.7 million, increasing by 21.4% year on year, with a weighted average return on net assets of 9.6%. Business Achievements With the guidance of national policies and The group’s own expansion, The group have comprehensively reinforced the structure of “two bases and six pillars” and continued to improve The group’s business capabilities and consolidated The group’s advantages in institutional, high-end and cross-border businesses. Maintaining a leading position in core businesses The group’s investment banking business fully supported the development of the real economy. In 2019, The group’s Company ranked first acting as sponsor in terms of underwriting amount achieved in A share IPOs and the Hong Kong stock market, second in terms of underwriting amount in US IPOs of PRC-based companies, and first acting as sponsor in terms of underwriting amount of IPOs on the science and technology innovation board. The group’s Company ranked third among securities firms in terms of onshore bond offerings with an increase of approximately 40% in aggregate underwriting amount compared with the same period of last year. As for the M&A business, The group’s Company has remained No.1 on the league table, and played a lead role in a number of milestone large-scale industrial restructuring and debt restructuring projects. Through consolidating The group’s business advantages in the primary market, The group have supported the development of the new economy with diversified financial means, so as to contribute to supply-side structural reforms, drive the financial industry to service the real economy and prevent and mitigate risks. The group’s equities business embraced opportunities for institutionalization, productization, and internationalization. With institutional client focus,, The group’s equities business capitalized on opportunities from the reform, innovation, and opening-up of the capital market to promote product innovation, enhance cross-border business capabilities, and enhance the rapid development of businesses such as prime brokerage business and derivative products business. The group were committed to developing the exchange and OTC business in domestic and overseas markets, and contributed The group’s share to bolstering areas of weaknesses and further improving trading functionality. In 2019, the prime brokerage business and derivative products business in mainland China showed continuous growth in terms of scale, and the Hong Kong prime brokerage business ranked among the top in overseas markets in terms of business size. These results contributed to The group’s leading position and steady growth in the Connect business in terms of coverage of clients and market share. The group’s FICC trading and comprehensive service capabilities continued to grow. Relying on The group’s comprehensive trading qualifications, industry-leading trading capabilities and extensive dealer networks, The group’s trading teams continued to demonstrate strong trading and risk control capabilities and achieved stable investment income, which have won us honors and awards in terms of inter-bank market trading and market-making. The group have steadily improved The group’s client service capabilities in the FICC business, and gradually built an integrated platform that covers interest rate, credit, foreign exchange, commodities, securitization, derivatives and futures to provide sales, research, trading, financing and cross-border services. Capturing opportunities from the opening-up of the bond market, The group ramped up The group’s international strategy, and were honored the “Opening-up Award” in the interbank local currency market. Achieving growth in the size of emerging businesses The group maintained industry-leading position in terms of the total assets under management of private equity investment. CICC Capital has built a comprehensive and integrated platform for private equity investment fund with multi-layered risk diversification, becoming one of China’s largest platforms for private equity investment. In 2019, with close focus on the national strategy and in order to support China’s economic transformation and upgrading, CICC Capital has actively deployed large funds in key areas of strategic significance, continued to enrich product lines and cultivated cross-border business capabilities, with the aim to support industrial reshuffle, regional development and the growth of new economy through vigorously mobilizing social resources. At the end of 2019, the total size of assets under the management of private equity investment business of the Group amounted to over RMB300 billion, with a year-on-year growth rate of nearly 10%. The group’s asset management business continued to make breakthroughs. Relying on The group’s advantages as a comprehensive investment banking platform, The group have been committed to building a comprehensive asset management platform with multiple assets, multiple strategies and cross-market capacities. In 2019, seizing opportunities from institutionalization and the offering of NAV-based products, The group focused on strengthening The group’s investment research teams. As a result, The group have achieved stable investment performance, made breakthrough progress in corporate annuities, bank wealth management subsidiaries and insurance outsourcing business, and steadily improved The group’s active management capabilities for cross-border businesses. The group’s mutual fund business achieved breakthroughs in the number of clients and institutional access, and launched new products such as strategic placement on the science and technology innovation board. At the end of 2019, The group’s total assets under management exceeded RMB500 billion, representing a year-on-year increase of nearly 50%. The group’s wealth management forged ahead with business integration and transitioning. The group unified the brand name with CICC Wealth Management, which marked a major milestone in terms of integration since the merger three years ago. The group managed to gain new ground in transformation, laying a sound foundation for forward growth. The group continued to intensify the development of wealth management platforms as well as the establishment of the Private Wealth Management (PWM) division and the Global Family Office (GFO) teams to provide “wealth planning + asset allocation” solutions. With the optimization of wealth management service models, The group’s product sales continued to reach new heights and product assets have accumulated rapidly. The group have proposed to establish joint-venture technology company with Tencent to capture development opportunities in wealth management business. Realizing solid progress in research and information technology The group committed The group’s research work to become as the “China Expert” with international perspectives. Riding on The group’s advantages in “one team across two markets”, The group’s research business closely followed trends of the global market, and focused on professional analysis of macroeconomics, market strategies, asset allocation and stocks, thus supporting various business lines. In 2019, The group assembled a series of significant thematic reports, including new products such as “CICC Outpost”, “Overseas Prospective from CICC” and “Interviews with Chief Officers”. These research products continued to enhance the influence of The group’s brand and won numerous awards issued by the Institutional Investor and the Asiamoney Brokers Poll for consecutive years. The group were exploring the creation of index assets based on The group’s research, and made preliminary progress in research into productization and commercialization. Information technology was moving towards systematization, platformization and intelligence. The group’s Company has newly developed and launched multiple core business and management systems, and gradually developed three basic technology systems regarding trading, products and services, and risk control and operation management. The group also have established a technical support platform for business lines through connecting and integrating core business systems, which can fully support The group’s core businesses and the rapid launch and scaled development of The group’s innovative businesses. The group continued to research and explore new technology applications and new business models, improved The group’s IT governance and optimized The group’s IT organizational structure and operation model, with a view to promoting the integration of business and technology. Continuously enhancing corporate culture The group strengthened firm-wide understanding of The group’s corporate culture through multiple cultural discussions. According to the requirements of the China Securities Regulatory Commission on cultural construction of the securities industry, The group have striven to strengthen the organization, summarization and training on The group’s culture, and continued to enrich and refine The group’s corporate culture, so as to give play to the positive role of corporate culture in strategy formulation and implementation. The group carried out indepth discussions and exchanges on CICC’s mission, vision and values with employees at all levels through various activities such as the CICC Institute, Managing Director (MD) seminars and the Participating Managing Director (PMD) meetings. The group actively participated in poverty alleviation and charity activities to fulfill The group’s social responsibility. The group have expanded The group’s footprint of poverty alleviation in 14 state-level poverty counties (regions) in Beijing, Gansu, Hunan, Anhui, Shanxi, Qinghai, Sichuan, Chongqing, Fujian, Xinjiang, Tibet and other provinces (autonomous regions), and paired up with and assisted poverty counties to alleviate poverty. In line with the strategies of poverty alleviation by stimulating local consumption and empowering the local people and the value of “For the Nation”, The group have always committed The group’s efforts in fulfilling The group’s social responsibility and contributing to poverty alleviation. In 2019, The group were named as the “Pioneering Institution in Targeted Poverty Alleviation” by China.org.cn. Since the outbreak of COVID-19 epidemic, The group’s Group has paid close attention to the development of the epidemic, actively implemented various prevention and control measures, and made rapid response to aid the virusstricken areas. The group’s Group donated more than RMB18 million of funds and medical supplies to the Hubei province and other severely affected areas. Prospects: Looking into the future, CICC will actively seize strategic opportunities to drive growth and achieve a leap in development, so as to establish the Company as a first-class international investment bank in China and become a core player in the future financial system. The group’s concrete strategic initiatives include: • Intensifying investment to drive growth in scale and strength. On the one hand, The group will expand The group’s core resources such as capital and talent teams, actively invest to enhance The group’s client coverage and market influence, increase market share, drive growth, and achieve scaled development, to gain a leading position in the industry in terms of quality, scale and market influence, and reinforce The group’s positioning as an important financial institution. • Two Bases and Six Pillars, One CICC. With the strong support of research and IT, The group will solidify The group’s strengths in investment banking, equities, and FICC, and expand the business scale of private equity, asset management and wealth management, to integrate the capabilities and resources of different business segments through a full value chain, and establish One CICC built upon two bases and six pillars. In the meantime, The group will seek extensive alliances with all types of financial institutions, to provide the best total financial solutions to The group’s clients. • Promoting institutional innovation and strengthening corporate culture. In line with the principles of strengthening risk management and preventing conflicts of interest, The group will optimize The group’s organizational structure to establish a mechanism and corporate culture that match with The group’s strategies. The group will unite The group’s talent teams and improve organizational efficiency to promote collaboration among departments and give full play to the advantages of “One CICC”. In terms of soft power, The group will develop ourselves as an industry benchmark, and contribute to creating an industry culture of “compliance, integrity, professionalism and prudence”. • Deepening local penetration, and expanding international footprints. The group will deepen regional penetration in China, to provide more timely and high-quality financial services to serve local economic development, industrial restructuring and household needs for wealth management through the close cooperation between business lines and regional outlets. The group will vigorously increase investment in overseas markets and strengthen The group’s presence in international financial centers, while expanding footprints along the Belt and Road regions through both organic growth and M&A opportunities, to build cross-border capabilities comparable to world-class investment banks. • Promoting digitalized transformation and building a CICC eco-cycle. The group will intensify IT investment and enhance IT team capacity to fully address the evolving needs for business development and office administration. Through organizational and institutional innovation, The group will promote closer collaboration between IT teams and business lines to improve efficiency and drive momentum. Through investments and partnerships, The group will remain extensive access to the state-of-the-art technologies, and build a CICC eco-cycle, to become a promoter and leader in digital economy and intelligence financial services sector. Twenty-five years ago, CICC was established in the new era of China’s reform and opening up and at the booming eve of China’s capital market, showcasing an organizational and institutional innovation. In the past twenty-five years, CICC has insisted on introducing advanced international experience with the actual conditions of China, and fully exerted its role in piloting reforms and promoting opening up. The group have witnessed the ups and downs of China’s economy and capital market, and committed to fulfilling The group’s missions and responsibilities. In the future, as China continues to deepen reform and expand opening up, The group will spare no effort in making contributions to the process to a responsible investment bank. Devoted with innovation and hard work, The group will provide quality and trusted financial services to promote economic development and social progress, and serve for national prosperity and personal wellness. The group will contribute The group’s share to promoting institutional reforms and system evolution, and support China to integrate deeper into the global market, towards a road to realize the causes of CICC and the whole China.

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