Under pressure, Haitong Securities announced a bold dividend with a net profit of 953 million in the first half of the year, with a dividend ratio of 40.88%
Haitong Securities recently released its 2024 interim report, with a net profit of 953 million yuan, a year-on-year decrease of 75.11%. Operating income was 8.865 billion yuan, a decrease of 47.76% from the previous year. The company has decided to implement cash dividends, with a dividend of 0.3 yuan per 10 shares, representing a dividend ratio of 40.88%. Total assets were 721.415 billion yuan, with net assets of 163.028 billion yuan. The total amount of cash dividends and share repurchases is approximately 692 million yuan, accounting for 72.68% of net profit
In recent days, Haitong Securities has become the focus of attention for many people.
On the evening of August 29, Haitong Securities disclosed its 2024 interim report.
The report shows that during the reporting period, Haitong Securities achieved operating income of 8.865 billion yuan, a year-on-year decrease of 47.76%.
Among them, net income from fees and commissions, net interest income, investment income and fair value change income, other operating income, and other items all showed a decline year-on-year.
In particular, other operating income saw a 74.7% decrease, mainly due to a decrease in sales revenue of subsidiaries.
In the highly anticipated investment banking business, net fee income declined by 56.17%, mainly due to a decrease in net income from securities underwriting business.
The report shows that Haitong Securities achieved a net profit attributable to the parent company's shareholders of 953 million yuan, a year-on-year decrease of 75.11%.
As of the end of the reporting period, Haitong Securities' total assets were 721.415 billion yuan, a decrease of 4.4% from the end of the previous year; net assets attributable to the parent company's shareholders were 163.028 billion yuan, a decrease of 0.13% from the end of the previous year.
On the same day, Haitong Securities announced the profit distribution plan for the first half of 2024. The company's profit distribution for the first half of 2024 will be in the form of cash dividends. Based on the total share capital registered on the record date for the 2024 interim dividend distribution after deducting the shares held in the company's repurchase special securities account, a cash dividend of RMB 0.3 per 10 shares (including tax) will be distributed.
If the total share capital on the day of the board of directors' approval of the profit distribution plan for the first half of 2024 is used as the basis for calculation after deducting the shares held in the company's repurchase special securities account, the total amount of cash dividends distributed will be nearly 390 million yuan, accounting for 40.88% of the net profit attributable to the parent company's shareholders for the first half of 2024.
The company repurchased shares worth approximately 303 million yuan (excluding transaction costs) through on-market repurchases using cash as consideration in the first half of 2024. The total amount of cash dividends and repurchases amounted to 692 million yuan, accounting for 72.68% of the net profit attributable to the parent company's shareholders for the first half of 2024