Huaan Securities Co.,Ltd. (China)

Huaan Securities Co., Ltd, formerly known as Anhui Securities Company, was established in 1991 and is the first securities institution in Anhui Province. In 2001, it was restructured and became one of the first comprehensive securities companies in the country. The company went through comprehensive governance and multiple capital increases and expansions, and in 2012, it became a joint-stock company. On December 6, 2016, the company went public and listed on the Shanghai Stock Exchange (stock code: 600909). Huaan Securities is the main initiator and largest shareholder of Huafu Fund. It wholly owns subsidiaries such as Huaan Jiaye, Huafu Ruixing, Huaan Futures, Huaan Emerging, and Huaan Securities (Hong Kong). It also has stakes in Anhui Equity Service Company and China Securities Pricing System Company, forming a group development framework. The company has a total of 151 securities branches and 13 futures branches, forming a service system that is rooted in Anhui, deeply cultivated in the Yangtze River Delta, facing the whole country, and connecting with the Asia-Pacific region. As of the end of the first quarter of 2023, the company's main business operations were generally stable. It achieved a total operating income of 1.035 billion yuan and a net profit of 364 million yuan. The company's total assets were 81.318 billion yuan, and its net assets were 20.53 billion yuan, representing an increase of 10.05% and 2% respectively compared to the end of the previous year. During the "13th Five-Year Plan" period, the company focused on its strengths and weaknesses. The AUM of wealth management increased from 169.7 billion yuan at the end of 2015 to 322.1 billion yuan, and the net income from agency securities trading remained in the top 30 in the industry. It ranked 28th in the number of sponsorships for the Science and Technology Innovation Board. The net income from asset management business improved from 56th place in 2015 to 20th place. The actual paid-in scale of private equity funds ranked 18th in the industry. The company achieved a balanced development, with the proportion of investment banking and asset management business income increasing from 4% in 2015 to 22%, and the proportion of brokerage business income decreasing from 68% to 30%. It achieved a roughly equal distribution of light and heavy asset business income, breaking away from excessive reliance on a single brokerage business and forming a dual-profit model. The company also focused on improving management efficiency, constructing a group matrix management structure, optimizing the organizational operation system, and building three major business clusters: retail, institutional, and industrial. It continuously enhanced the headquarters' empowerment, vigorously promoted the reform of subsidiary management, and fully implemented the MD rank system, continuously improving the market-oriented and competitive operating mechanism. From 2016 to 2020, the company's net profit ranked 42nd, 35th, 31st, 23rd, and 30th in the industry, and its ROE ranked 53rd, 44th, 33rd, 9th, and 20th. The company pursued steady progress, conducted heavy asset business within its capabilities to ensure that the scale matches its professional and risk control capabilities, and conducted light asset business in a legal and compliant manner, achieving stable and robust development in all business areas. During the "14th Five-Year Plan" period, the company will adhere to its original intention of serving the real economy, take "achieving customer success, assisting employee growth, creating shareholder value, and exerting the strength of state-owned enterprises" as its mission, practice the five development concepts of innovation, coordination, greenness, openness, and sharing, focus on the standardized needs of retail customers, the professional needs of institutional customers, and the diversified needs of industrial customers. It will adhere to the operating direction of "comprehensive layout and characteristic breakthrough", the general tone of "steady progress with new developments", and the dual-profit model of "light and heavy asset business". With capital, talent, technology, and culture as the driving forces for development, the company aims to build an innovative investment bank serving emerging industries and a professional wealth management institution serving the public, and strive to enter the top 25% of the industry in all aspects.