On March 29, Boc International (China) Co.Ltd(601696) released the annual report of 2021. During the reporting period, the company achieved an operating revenue of 3.334 billion yuan, a year-on-year increase of 2.75%; The net profit attributable to the shareholders of the listed company was 962 million yuan, a year-on-year increase of 8.88%.
Asset management business and wealth management business have become the highlights of the company’s operation. According to the annual report, Boc International (China) Co.Ltd(601696) 2021 had an asset management scale of 755.1 billion yuan at the end of 2021, ranking third in the industry; The net income from agency sales of financial products was 140 million yuan, a year-on-year increase of 60%, ranking 28 in the industry.
Boc International (China) Co.Ltd(601696) said in the annual report that the company is committed to “building a first-class investment bank in the new era”. In the future, it will focus on big wealth management business, build three professional teams of investment bank, investment research and investment consulting, give full play to the advantages of “commercial bank + investment bank” and consolidate the foundation of high-quality development
asset management business ranks in the forefront of the industry
From the core financial indicators in recent three years, Boc International (China) Co.Ltd(601696) 20192021 operating revenue was 2.908 billion yuan, 3.244 billion yuan and 3.334 billion yuan respectively, and the net profit attributable to shareholders of listed companies was 798 million yuan, 883 million yuan and 962 million yuan respectively.
From the perspective of revenue composition, the top three of the company’s revenue in 2021 are securities brokerage business, asset management business and investment banking business. Among them, the securities brokerage business achieved an operating income of 1.961 billion yuan, the asset management business achieved an operating income of 533 million yuan, and the investment banking business achieved an operating income of 247 million yuan.
In 2021, the strength of Boc International (China) Co.Ltd(601696) asset management business will continue to rank first in the industry Boc International (China) Co.Ltd(601696) said in the annual report that the company continued to improve its investment management capability; In terms of institutional customers, the company focuses on expanding the customer base of bank financial management subsidiaries, and the scale of business cooperation has achieved rapid growth; In terms of channels, the company has made great efforts in wealth management services and achieved remarkable results in the research and development of public offering products.
According to the annual report, Boc International (China) Co.Ltd(601696) 2021 had entrusted assets of 755.1 billion yuan, ranking third in the industry, a record high, with a year-on-year increase of 47.5%; Among them, the management scale of public funds reached 116 billion yuan, a year-on-year increase of 9%. During the reporting period, Boc International (China) Co.Ltd(601696) realized a net income of 773 million yuan from the asset management business of entrusted customers (data source: China Securities Association), which continued to be in the forefront of the industry.
Boc International (China) Co.Ltd(601696) in the annual report, the company will continue to comply with the business development trend in 2022, strive to seize the major opportunities brought to the industry by the new era of common prosperity, focus on the construction of investment and research system, continuously improve the sales service ability, continuously improve the risk management system, consolidate the advantages of fixed income investment, expand the scale of “fixed income +” and equity business, and promote the high-quality development of the company’s asset management business.
focus on Wealth Management
“Promoting the transformation of personal customer wealth management under the empowerment of science and technology is an important measure for the company to focus on high-quality development.” Boc International (China) Co.Ltd(601696) means.
Boc International (China) Co.Ltd(601696) introduced that in 2021, the company focused on promoting the development of wealth management business, strengthening the professional capacity-building of headquarters, strengthening the linkage marketing with branches, and vigorously expanding the customer base of wealth management business, with about 760000 new customers, an increase of 73% year-on-year Boc International (China) Co.Ltd(601696) provided diversified asset allocation services for customers, actively developed product sales business, and achieved a net income of 140 million yuan from agency sales of financial products, a year-on-year increase of 60%, ranking 28 in the industry.
At the same time, Boc International (China) Co.Ltd(601696) accelerate the construction of intelligent investment consulting system and professional team of investment consultants, strengthen business training and continuously improve the service ability of investment consultants; Build a layered customer service system and launch exclusive services for medium and high-end customers. In terms of Internet technology, Boc International (China) Co.Ltd(601696) continued to iterate the securities app to improve functions and optimize experience. The app has 1.28 million monthly live users, ranking 20 in the industry, up 3 from the end of last year.
It is reported that in 2022, BOCI will further promote the transformation of wealth management, focusing on both customer acquisition and service capacity improvement. In terms of customer acquisition, the company will strengthen the construction of online channels, promote cooperation with external channels, and further improve the ability of online customer acquisition; At the same time, the company strengthened its collaborative service capability, integrated advantageous resources, and focused on expanding medium and high net worth customers offline.
continuous force business transformation
Boc International (China) Co.Ltd(601696) said that the company is committed to “building a first-class investment bank in the new era”. For its future business plan, it will focus on customers and market, adhere to the original intention and origin of financial services to the real economy, build three professional teams of investment bank, investment research and investment consulting around the value cycle chain centered on big wealth management business, give full play to the advantages of “commercial bank + investment bank” and consolidate the customer base, Enhance the development potential of the company:
First, accelerate the transformation of wealth management under the empowerment of science and technology Boc International (China) Co.Ltd(601696) take the construction of strong headquarters as the guide, increase internal and external coordination, and create an integrated customer business model with strong headquarters digital empowerment. Consolidate the customer base and optimize the customer structure by developing Wuxi Online Offline Communication Information Technology Co.Ltd(300959) channels; While strengthening the professional capacity-building of the headquarters, actively promote the construction of the integrated investment advisory service system of branches and accelerate the construction of the professional team of investment advisers; Strengthen the construction of product R & D capacity, and comprehensively improve the product sales and asset allocation service capacity; Take the investment advisory business of public funds as a new business of wealth management and explore new growth points; Increase the application of financial technology and improve the digital and intelligent marketing and service platform.
The second is the transformation of asset management business to active management Boc International (China) Co.Ltd(601696) pay close attention to the five elements of investment and research, products, sales, talents and risk control, promote the sound development of asset management business and build core competitive advantages. Focus on the construction of investment research team to form an investment field with brand effect. Build the double expert brands of “fixed income +” and “service +”, highlight the investment and research ability based on fixed income, and gradually derive diversified investment strategies. Help to provide all-round services for institutional customers, highlighting customization, service, tool, configuration and investment banking. Give full play to the advantages of public funds and asset management licenses and promote the implementation of public REITs projects.
Third, consolidate the advantages and transform to a transaction driven investment bank Boc International (China) Co.Ltd(601696) deeply cultivate key industries and key customer groups, and continuously increase the reserve of high-quality projects with market influence; Improve the risk prevention ability of investment banking business, grasp the progress and quality of project implementation, refine the specifications and requirements of quality control verification, and improve the application of intelligent tools enabled by science and technology. Strengthen the construction of talent team and further improve the ability of professional service.
Fourth, integrate resources and improve the professional service ability of institutional investors Boc International (China) Co.Ltd(601696) with brand influence as the traction, build “economic experts”, “configuration experts” and “industry experts” with market influence, and highlight the research of science and technology, green and wealth finance. Broaden the coverage of institutional customers and realize the diversification of income sources; Promote the development of cross selling business and study the transformation from sales to comprehensive sales.
