GF Securities (01776) announced interim results, net profit attributable to mother of 4.362 billion yuan, a year-on-year decrease of 3.88%

According to the Zhitong Finance App, Guangfa Securities (01776) announced 2024 interim results, with total revenue and other revenue of 17.136 billion yuan, a year-on-year decrease of 5.25%; net profit attributable to the company's shareholders was about 4.362 billion yuan, a year-on-year decrease of 3.88%; basic earnings per share were 0.52 yuan, with a cash dividend of 1.00 yuan for every 10 shares.

The decrease in revenue was reflected in (1) income from commissions and fees of $6.784 billion, a decrease of 13.43% from the same period of the previous year, mainly due to a decrease of RMB 805 million in asset management fees and fund management fee revenue of RMB 805 million compared to the same period of the previous year and a decrease of RMB 326 million in commission and fee income from securities brokerage operations compared to the same period of the previous year; (2) interest income of $6.248 million decreased by 8.18% compared to the same period of the previous year; Genwa $264 million; (3) Net investment income was $3,654 million, an increase of 40.08% over the same period last year, mainly due to an increase in net income from financial instruments; and (4) other income and revenue of $450 million, a decrease of 46.18% over the same period of the previous year, mainly due to a decrease of $768 million in government subsidy revenue compared to the same period last year, partly offset by an increase of $267 million in commodity sales revenue over the same period of the previous year.

As of June 30, 2024, the Group's total assets were $689.328 billion, up 1.05% from the end of the previous year; total liabilities were $543.677 billion, up 0.40% from the end of the previous year. Non-current assets were $41,882 billion, up 24.45% from the end of the previous year, mainly due to an increase in the size of equity instruments measured at fair value and changes included in other comprehensive income; current assets were $647.446 billion, a decrease of 0.17% from the end of the previous year; current liabilities were 468.598 billion yuan, a decrease of 0.35% from the end of the previous year; and non-current liabilities were 75.34% from the end of the previous year.