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DFZQ-H shares, 03958.HK - Company Profile
Chairman	JIN Wenzhong
Share Issued (share)	1,027,000,000
Par Currency	Renminbi
Par Value	1.0
Industry	Securities
Corporate Profile	Business Summary: The Group is principally engaged in securities and futures brokerage, margin financing and securities lending, securities investment advisory, securities proprietary trading, asset management, agency sale of financial products, security underwriting and sponsorship, and other business activities approved by CSRC. Performance for the year: During the Reporting Period, the Group realized revenue and other income of RMB27.647 billion, up by RMB3.296 billion or 13.54% over the same period of last year. Business Review: Securities Sales and Trading The Company conducts securities sales and trading business with its own capital, including equity investment and trading business, fixed income investment and trading business, financial derivatives trading business, alternative investment and securities research services. • The Company engages in professional equity investment and trading business and fixed income investment and trading business, which includes various stocks, funds, bonds, derivatives and others. In the meantime, the Company actively expands FICC business. • The Company conducts financial derivatives trading business by flexibly utilizing derivatives and quantitative trading strategies to obtain absolute income with low risk exposure. • The Company engages in alternative investment business through Orient Securities Innovation Investment, a wholly-owned subsidiary of the Company, and its investment products include equity investment, special assets investment, quantitative investment etc. • The Company provides its institutional clients with research services. The clients allocate funds to the seats through the Company and, based on the quality of the research services, determine the lease of special unit trading seats from the Company and the allocation of trading volume. Investment Management The Company provides its clients with asset management schemes, publicly offered securities investment funds products and private equity investment funds management. • The Company conducts asset management business through Orient Securities Asset Management, a wholly-owned subsidiary of the Company, providing a complete product line of asset management business including collective asset management, single asset management, specialized asset management and publicly offered securities investment funds. • The Company conducts fund management business for its clients through China Universal, an associate in which the Company is the largest shareholder with a shareholding of 35.412%. • The Company engages in private equity investment fund management business through Orient Securities Capital Investment, a wholly-owned subsidiary of the Company. Brokerage and Securities Financing The Company conducts securities brokerage business and futures brokerage business, and provides its clients with such services as margin financing and securities lending business, collateralized stock repurchase business, OTC trading and custodian business. • The Company’s securities brokerage business primarily focuses on trading stocks, funds and bonds by accepting entrustments or on behalf of the clients according to the instructions given to the authorized branches. • The Company conducts futures brokerage business through Orient Futures, a wholly-owned subsidiary of the Company, as well as a member of Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai International Energy Exchange and a full clearing member of China Financial Futures Exchange, who provides the clients with commodity futures brokerage, financial futures brokerage, futures investment consultancy, asset management and distribution of funds and other services. • The Company conducts risk management business through Orient Securities Runhe, a wholly-owned subsidiary of Orient Futures and facilitates companies to manage price risks during operations via warehouse receipt services, basis trade and OTC options in futures and spot markets. • The Company’s margin financing and securities lending business mainly refers to a transaction in which an investor provides the Company with collateral to borrow funds and purchase securities (margin financing transaction) or borrow and sell securities (securities lending transaction). • The Company’s collateralized stock repurchase transaction business refers to a transaction in which qualified borrowers pledge their stocks or other securities as collateral to obtain financing from the Company and agree to repay the funds on a future date to release such pledge. • The Company provides OTC financial products and also provides transfer, market making quotation and other services to its clients. • The custodian business of the Company mainly includes providing asset custody and fund services to private equity investment funds, publicly offered funds and various asset management institutions. Investment Banking The Company carries out investment banking business mainly through its fixed income business headquarters and Orient Investment Banking, a wholly-owned subsidiary of the Company • The Company provides equity underwriting and sponsorship services, including underwriting and sponsorship services of IPOs, and refinancing projects including non-public offerings and rights issues. • The Company provides debt underwriting services, including underwriting services for corporate bonds, enterprise bonds, treasury bonds, financial bonds and others. • The Company provides financial advisory services in areas such as mergers and acquisitions and restructuring, NEEQ securities recommendation and listing as well as enterprise reform. Headquarters and Others The Company’s headquarters and other businesses mainly include headquarters’ treasury business and overseas business. • Headquarters’ treasury business mainly includes the management of headquarters financing business and liquidity reserves. • The Company conducts internationalization business through Orient Finance Holdings, a wholly-owned subsidiary of the Company, with its business place in Hong Kong. Orient Finance Holdings conducts brokerage business, asset management business, investment banking business and margin financing business regulated by the SFC in accordance with the SFO through Orient Securities International, its wholly-owned subsidiary and various licensed companies. In 2020, amid the COVID-19 pandemic and international trade friction, the domestic economy was exposed to numerous uncertainties and the stock market and bond market performed with significant fluctuation. During the Reporting Period, the securities industry realized operating income of RMB448.979 billion, increasing by 24.41% compared to the same period of last year. Net profit reached RMB157.534 billion, increasing by 27.98% compared to the same period of last year. In terms of operating income, the securities industry realized a net income of RMB116.110 billion (including seat rental income) from the securities agency business, increasing by 47.42% year-on-year. Net income from investment banking business was RMB67.211 billion, increasing by 39.26% year-on-year. Net income from asset management business was RMB29.960 billion, increasing by 8.88% year-on-year. In terms of the capital scale, capital strength of the securities industry improved steadily. As of the end of the Reporting Period, the total assets of the securities industry were RMB8.90 trillion and the net assets were RMB2.31 trillion increasing by 22.50% and 14.10%, respectively from the beginning of the year. During the Reporting Period, the Company maintained stable overall strength and industry position and recorded sound financial condition. The Company actively seized market opportunities regarding its securities sales and trading business, kept its leading position in the industry in terms of investment management business, continued to deepen transformation of wealth management, and advanced with stability with respect to the investment banking, private equity investment and other businesses. The Company strictly adhered to the bottom line of risk control, and was rated as a Grade A, Category A company among brokers. It has been rated as a Grade AA, Category A or Grade A, Category A securities company for the twelfth consecutive year. Prospects: In terms of equity investment business, the Company will put more efforts in macro-environment research and prognosis while ensuring effective micro-fundamentals analysis, focus on flexible investment strategies, improve yield under the premise of strict risk control, and capture the opportunities in equity investment market. In terms of NEEQ business, while improving and consolidating its investment research abilities, the Company will actively participate in the reform of the NEEQ market, make investment in the PNTB in an orderly manner, develop mixed market-making business, and strive to seize the opportunity of reform to improve investment returns. In terms of FICC business, the Company will further broaden the investment scope, enhance its bond trading capabilities, improve its systematization, facilitate the transformation of fixed income business sales transactions and agency business, promote the improvement of FICC industrial chain and continuously improve the profitability. In terms of financial derivatives business. The Company will continue to improve its investment and research abilities and enhance the yields of different businesses. Relevant measures include improving the return and stability of the Alpha business; improving options market making, fund market making and commodity futures market making business to enhance the yield; and leveraging the synergy of the Company and actively exploring the OTC derivatives business. Meanwhile, with the gradual improvement of the capital market, the introduction of more derivative subjects will bring more opportunities for the Company’s business. In the future, with the completion of asset allocation, Orient Securities Innovation Investment will enter the stage of refining management and professional business operation. For special asset business, Orient Securities Innovation Investment will develop its business from capital investment to asset disposal and operation to improve ROE and return on capital by improving disposal and operation capabilities, thus consolidating its core competitiveness. For equity investment, it will make asset allocation in areas strongly supported by national plans to contribute to the development of the real economy while carrying out co-investment in Science and Technology Innovation Board (“Sci-Tech Innovation Board”) projects. For quantitative investment, the Company will strive to identify high-quality managers and reduce the correlation of product investment to lower portfolio risk and improve yield. In the future, the Company’s research business will firmly grasp the opportunity from the current market recovery, continuously consolidate and utilize its research capabilities and advantages to provide more comprehensive and in-depth research services for its customers, and facilitate the Group in providing comprehensive financial solutions for enterprises by leveraging its research capabilities. In the future, the Company will actively seize the opportunities of industry development, utilize its active management advantages, uphold the idea of value investment, continue to strengthen the construction of its core competitiveness with the dual drivers of “professional investment research + professional services”, maintain an open and evolutionary mindset, continuously consolidate its investment management capabilities, and pursue client-centered and sustainable development with focus on long-term performance. The Company will increase its efforts in diversified development layout. To this end, it will, on one hand, continue to improve the product line of the Company, and broaden the coverage of its investment research abilities to serve different investors, and on the other hand, further develop and consolidate the market, and continue to optimize the customer structure. In line with the Company’s product layout and strategic development, the Company will enhance the visibility and reputation of its “Dong Fang Hong” brand. It will also accelerate the construction of an attractive and market competitive talent system to provide important support for business development. The Company will comprehensively increase investment in financial technology, create an information technology structure with dual drivers of “data + technology”, and accelerate the transformation to online, digital and intelligent services. It will also strictly adhere to the bottom line of compliance and risk control to achieve mutual growth with the Company’s high-quality business development.

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Public company info - DFZQ-H shares , 03958.HK