On March 17, Sealand Securities Co.Ltd(000750) disclosed the annual report of 2021. In 2021, the company realized an operating revenue of 5.170 billion yuan and a net profit of 765 million yuan, with a year-on-year increase of 15.36% and 5.41% respectively.
From the perspective of business composition, Sealand Securities Co.Ltd(000750) wealth management business transformation has achieved remarkable results. Among them, the revenue of retail wealth management business and investment management business has increased, which has boosted the total revenue to a record high, but the revenue of other businesses has declined year-on-year. In addition, it is worth mentioning that a large number of industry leaders were introduced into Sealand Securities Co.Ltd(000750) research business last year, and the research commission income increased by 84.11% year-on-year.
operating revenue hit a record high
Sealand Securities Co.Ltd(000750) 2021 annual report shows that the company achieved consolidated operating income of RMB 5.170 billion, total profit of RMB 1.148 billion and net profit attributable to shareholders of the parent company of RMB 765 million, with a year-on-year increase of 15%, 10% and 5% respectively. At the end of the year, total assets of RMB 75.868 billion and net assets of RMB 19.219 billion, with a year-on-year increase of 3% and 1% respectively. Among them, total assets, net assets and operating income reached a record high.
Compared with the industry, among the 140 securities companies, Sealand Securities Co.Ltd(000750) total assets, net assets and net capital rank 35th, 36th and 39th respectively in the industry. In 2021, the net income of the company’s entrusted customer asset management business ranked 24th in the industry; The securities investment income industry ranks 25th; The interest income from margin trading ranked 39th in the industry; The investment banking business income ranks 46th in the industry; The net income of securities trading business ranked 48th in the industry.
In terms of business, Sealand Securities Co.Ltd(000750) divides the revenue into five parts, namely, retail wealth management business, with a revenue of 1.234 billion yuan; Corporate financial services business, with a revenue of 230 million yuan; Sales, trading and investment business, with a revenue of 979 million yuan; Investment management business, with a revenue of 1.479 billion yuan; Credit business, with a revenue of 263 million yuan. The reporter noted that affected by market fluctuations, project cycle and new asset management regulations, Sealand Securities Co.Ltd(000750) among the above businesses, only the revenue of retail wealth management business and investment management business increased, and the revenue of the other three sectors decreased year-on-year.
According to the annual report, Sealand Securities Co.Ltd(000750) retail wealth business wealth management transformation has achieved results. In 2021, the company’s retail wealth business achieved an operating revenue of 1.234 billion yuan, a year-on-year increase of 15.62%. The ability to obtain customers was significantly enhanced. During the year, the number of new customers increased by 7.79% year-on-year, and the new assets of new customers increased by 64.45% year-on-year; The scale and income of financial products sold on a commission basis have increased significantly.
In addition, Sealand Securities Co.Ltd(000750) investment management business achieved a revenue of 1.479 billion yuan, a year-on-year increase of 29.51%. Among them, in 2021, the management scale and the number of customers of Guohai Franklin, a holding subsidiary, achieved rapid growth, and the asset management scale increased by 38.92% year-on-year, a record high; By the end of the reporting period, Guohai Franklin had managed 38 public fund products and 7 specific customer asset management plans, with an asset management scale of 73.658 billion yuan, including 71.806 billion yuan. In 2021, the public fund management business realized an operating revenue of 731 million yuan, an increase of 110.19% year-on-year.
research business introduction leader’s commission income increased significantly
In addition to the above businesses, Sealand Securities Co.Ltd(000750) also disclosed the research business Sealand Securities Co.Ltd(000750) annual report said that in 2021, the research business of the company implemented the development strategy of “becoming a comprehensive brokerage with institutional business characteristics driven by investment and research”, benchmarked the first-class industry and achieved great improvement in many aspects: introducing industry leaders and quickly building a research team of more than 120 people; The research field covers 25 industries; Served 111 institutional clients such as large public funds and insurance companies, with a year-on-year increase of 22%; The number of research reports released increased by 54.38% year-on-year, the number of roadshows organized increased by 95.45% year-on-year, and the research commission income increased by 84.11% year-on-year.
Sealand Securities Co.Ltd(000750) said that with the continuous expansion of the capital market and the rapid development of the scale of public funds, the value of investment research services has become increasingly prominent, the scale of the seller’s research business market has gradually expanded, and the research sub warehouse commission income of securities companies has increased year by year. At present, securities companies have made significant efforts in the mechanism construction, staffing scale and talent introduction of research business, but the sub warehouse Commission of the head securities firm research institute still maintains a rapid growth. In the past three years, the top 30 securities firms account for nearly 90% of the overall sub warehouse income, and the competition in the research industry is becoming more and more fierce. In this context, the key to research business development is to be value oriented, focus on institutional needs, formulate differentiated research business development strategy planning, and improve institutional influence, research strength and investment and research transformation efficiency.
As stated in the annual report, Sealand Securities Co.Ltd(000750) Institute introduced a large number of chief analysts last year, including the director of the Institute. According to the reporter, at the beginning of December last year, Yang Renwen, the former director of Founder Securities Co.Ltd(601901) Research Institute, officially joined Sealand Securities Co.Ltd(000750) and served as assistant to the president and director of Sealand Securities Co.Ltd(000750) Research Institute. Yang Renwen has more than 10 years of experience as a seller and won the first, second and second place of the best analyst of new wealth from 2015 to 2017.
In addition to Yang Renwen, the reporter learned that nearly 20 Founder Securities Co.Ltd(601901) analysts joined Sealand Securities Co.Ltd(000750) in the second half of last year, including 9 chief analysts, such as Xue Yuhu, former deputy director of Founder Securities Co.Ltd(601901) Research Institute and chief analyst of food and beverage; Hu guopeng, former assistant director of Founder Securities Co.Ltd(601901) Research Institute and chief analyst of strategy, etc.
