(Original title: Guoyuan Securities’ net profit in 2021 is 1.87 billion yuan, a year-on-year increase of 37%: 490 million yuan in asset impairment reserves)
On January 17, Guoyuan Securities (000728) released its 2021 performance forecast. Last year’s revenue was 6.076 billion yuan, a year-on-year increase of 34.18%. Net profit was 1.87 billion yuan, a year-on-year increase of 36.52%.
Guoyuan Securities said that the overall trend of the domestic capital market was relatively stable, and securities transactions were relatively active. The company seized market opportunities, firmly established the concept of serving customers and the real economy, accelerated the progress of investment banking projects, increased sales of financial products, moderately increased financial leverage, expanded asset scale and investment varieties, and realized fixed income investment and investment banking underwriting. Revenues increased significantly year-on-year. As a result, the company’s annual operating income and net profit attributable to shareholders of listed companies increased by 34.18% and 36.52% year-on-year respectively.
In addition, Guoyuan Securities made various asset impairment provisions totaling about 490 million yuan. The above provision will reduce the company’s total profit by about 490 million yuan, reduce the company’s net profit by about 370 million yuan, and reduce the company’s net assets by about 370 million yuan.
Guoyuan Securities stated that the main reasons for the provision for asset impairment are:
(1) The provision for impairment of lent out funds is mainly due to the reversal of the subsidiary “Guoyuan International”