[年报]恒生电子(600570):恒生电子股份有限公司2021年年度报告（英文版）
原标题:恒生电子:恒生电子股份有限公司2021年年度报告（英文版） I. TheBoardandtheSupervisoryBoardoftheCompanyandtheDirectors,SupervisorsandmembersoftheSeniorManagementwarrantthetruthfulness,accuracyandcompletenessofthecontentsinthisAnnualReportandconfirmthattherearenomisrepresentationsormisleadingstatementscontainedinormaterialomissionsfromthisAnnualReport,andacceptseveralandjointlegalresponsibilities. II. AllDirectorsattendedtheboardmeetingoftheCompanytoconsiderandapprovetheannualresults. III.Pan-ChinaCertifiedPublicAccountantsLLPhasissuedastandardunqualifiedauditor’sreportfortheCompany. IV. PengZhenggang,chairmanoftheCompany,andYaoManying,FinancialControllerandHeadoftheFinanceDepartment(personinchargeofaccounting),warrantthetruthfulness,accuracyandcompletenessofthefinancialstatementscontainedherein. V. ProfitdistributionplanorcapitalreservessharecapitalizationplanduringtheReportingPeriodupondeliberationattheboardmeeting HundsunTechnologiesInc.(hereinafterreferredtoas"theCompany",fortheparentcompany,thesameasbelow)realizedatotalnetprofitofRMB1,379,884,502.16(inRMB,thesameasbelow)in2021.AccordingtotheCompanyLaw,theArticlesofAssociationoftheCompanyandtherelevantguidelinesoftheChinaSecuritiesRegulatoryCommissionandtheShanghaiStockExchange,10%ofthestatutoryreservefundshallbewithdrawnfirst,plustheprofitcarry-overfromthepreviousyear.Accordingtotheactualsituation,theCompanyplanstoimplementtheprofitdistributionplaninthefollowingorder:1. TheCompanywillwithdraw10%ofthestatutoryreservefundofRMB137,988,450.2first.2. Basedon1,461,144,040shares,beingtheCompany’stotalsharecapitalof1,461,560,480shares(asofMarch29,2022,thesamebelow)less416,440sharesintheCompany’sspecialrepurchaseaccount, a cash dividend of RMB1.00 (tax inclusive) per 10 shares will be paid to allshareholders,totalingRMB146,114,404. 3. Basedon1,461,144,040shares,beingtheCompany’stotalsharecapitalof1,461,560,480sharesless 416,440shares in the Company’s specialrepurchaseaccount, 3bonus shares will bedistributedtoallshareholdersforevery10shares,totaling438,343,212bonusshares.4. Theremainingdistributableprofitswillbecarriedforwardtothenextyear.TheaboveprofitdistributionplanshallbesubmittedfordeliberationandapprovalatthegeneralmeetingoftheCompanybeforeimplementation.Afterimplementation,theCompany'stotalsharecapitalwillbe1,899,903,692shares. If,duringtheperiodbetweenthedisclosureofthisprofitdistributionplanandtherecorddatefordividenddistribution, theCompany's sharecapitalinvolvedin theprofitdistribution changes duetorelevantmatters,theCompanyplanstomaintainthesameproportionofprofitdistributionpershare,adjustthetotalamountofdistributionaccordingly,andannouncethedetailsaboutadjustmentseparately.VI.Disclaimerofforward-lookingstatements √Applicable□NotApplicable TheCompany'sfuturestrategiesandplanscontainedhereindonotconstitutesubstantivecommitmentstoinvestorsbytheCompany.Investorsandstakeholdersshouldbeadequatelyawareofriskshereinandunderstandthedifferencesamongplans,forecastsandcommitments.VII.WhethertheControllingShareholderoftheCompanyoritsassociateshasmisappropriatedtheCompany’sfundsforpurposesotherthanforbusiness? N VIII. WhethertheCompanyhasprovidedexternalguaranteesinviolationofanyprescribeddecision-makingprocedures? N IX.Whether more than half of the Directors fail to warrant the truthfulness, accuracy andcompletenessofthecontentscontainedintheannualreportdisclosedbytheCompany?N X. Reminderofimportantrisks None.TheCompanyhasdescribedthepotentialrisksindetailherein.Pleasereferto"(IV)Potentialrisks" of "VI. Discussion and analysis of the future development of the Company" in "Section IIIManagementDiscussionandAnalysis"fordetails. XI.Others □Applicable√Notapplicable Note: ThisdocumentisatranslatedversionoftheChineseversion2021AnnualReport(“2021年年度报告”),andthepublishedannouncementsintheChineseversionshallprevail.ThecompletepublishedChinese2021AnnualReportmaybeobtainedatwww.sse.com.cn/ Contents SectionI Definitions......................................................................................................................................5 SectionII CompanyProfileandKeyFinancialIndicators.........................................................................6 SectionIII ManagementDiscussionandAnalysis.........................................................................................9 SectionIV CorporateGovernance...........................................................................................................37 SectionV EnvironmentalandSocialResponsibility.................................................................................54 SectionVI SignificantEvents....................................................................................................................55 SectionVII ChangesinSharesandParticularsofShareholders............................................................64 SectionVIII PreferredShares......................................................................................................................71 SectionIX CorporateBonds..........................................................................................................................72 SectionX FinancialReport..........................................................................................................................73
I. Definitions Unlessthecontextotherwiserequires,thefollowingtermsshallhavethefollowingmeaningsinthisreport:
I. COMPANYINFORMATION
(I)Keyaccountingdata Unit:Yuan Currency:RMB
□Applicable√NotApplicable VIII.ACCOUNTING DATADIFFERENCESBETWEENTHEPRC GAAPSTANDARDSANDFOREIGNACCOUNTINGSTANDARDS (I) Difference arising from the net profit and net assets attributable to shareholders of theCompanyinthefinancialstatementsdisclosedsimultaneouslypursuanttotheInternationalAccountingStandardsandthePRCGAAPStandards (II)DifferencearisingfromthenetprofitandnetassetsattributabletoshareholdersoftheCompanyinthefinancialstatementsdisclosedsimultaneouslypursuanttotheforeignaccountingstandardsandthePRCGAAPStandards □Applicable√NotApplicable (III)Explanationonthedifferencebetweendomesticandforeignaccountingstandards□Applicable√NotApplicable IX. KEYFINANCIALDATAOF2021BYQUARTER Unit:Yuan Currency:RMB
X. NON-RECURRINGPROFITSORLOSSESANDAMOUNTS √Applicable□NotApplicable Unit:Yuan Currency:RMB
□Applicable√NotApplicable XI. ITEMSMEASUREDATFAIRVALUES √Applicable□NotApplicable Unit:Yuan Currency:RMB
□Applicable√NotApplicable SectionIII ManagementDiscussionandAnalysis I. DISCUSSIONANDANALYSISOFBUSINESSOPERATIONS (I) Overalloperations In2021,Chinaremainedagloballeaderinpandemicpreventionandcontrolandineconomicandsocial development through scientifically integrating these goals. Digital technology has played animportantroleintermsofinformationservices,pandemicdetectionandmaterialsecurityinthebattleagainstCOVID-19.Atthesametime,thepandemichascreatedhugepublicdemandforonlineeducation,homeofficeservices,healthcareandentertainment,makingdigitalizationahottopicinvariousindustries,the financial industry included. While keeping abreast of changes in regulatory policy and industrydevelopmenttrends,theCompanykeenlyseizedrelevantmarketopportunities,changingorupgradingachievedsustainedbusinessandorganizationalgrowth,makinggreatprogressinitsproducts,technology, operationsandmanagement. DuringtheReportingPeriod,theCompany'srevenueincreasedby31.73%yearonyear,whilenet profitattributabletoshareholdersincreasedby10.73%yearonyear.Themainreasonforthisincreasewas theincreasedincomefrommainbusiness,undertheinfluenceoffinancialinnovationpolicies,together withthelackofsignificantassetimpairmentlossesrelativetothepreviousyear,duringtheReporting Period.DuringtheReportingPeriod,continuousgrowthwasmaintainedinalloftheCompany'sbusinesses.Intermsofindustries,goodgrowthwasseenintheinsuranceandprivateequitymarkets,whilesecurities,funds,futuresandtrustsmaintainedsteadygrowth.Intermsofproducts,theCompanysmoothlypromoteditsnewgenerationofcoreproducts,suchas045,Valuation6.0&TA,wealthmanagementsalesandinvestment advisory products, which were popular with customers. The Company put UF3.0 intofull-service operation and continued to maintain its technological leadership via securing in-depthcooperationwithanumberofbrokersusingadistributedcloud-nativearchitecture.IntermsoftheCompany'srevenuesources,bigretailandbigassetmanagementservicesremaineddominant,withproductlinessuchaswealthmiddleplatforms,wealthmanagementsalesandinvestmentadvisoryinbigretailservices,andproductlinessuchasinvestment&transactionmanagement,andvaluation&assetmanagementplatformsinthebigassetmanagementservicesallachievingsignificantgrowth.Intermsofinnovativebusinesses,revenuefromdataservices,dataend-useapplications,datamiddleoffice,andAIforresearchandinvestmentrecordedsatisfactorygrowth.Inordertobuildadoublefirst-classenterprise,theCompanycontinuedtoimprovecustomersatisfaction,increasethematurityofitsdutymechanismforseniorexecutives,andsignificantlyimproveefficiencyofdelivery,witha9.6%year-on-yeardecreaseinthecontractdeliverycycleperiod.Itcontinuedtoimproveproductquality,comprehensivelyreorganizeditstechnologicalproducts,optimizeditsproductemployeeshareownershipplan.Intermsofvalues,theCompanyhasalwaysadheredtoa“customerfirst”coreconcept,pursuingthegoalofexceedingcustomerexpectations. (II) R&Dandtechnology DuringtheReportingPeriod,Hundsun'scoreproducts,UF3,O45,Valuation6andthenewgenerationof TA all completed cloud-native technological upgrades and were also officially launched to keycustomers.Intermsoftechnologicalupgrading,theCompanycontinuedtoimprovetheLighttechnologyplatform,makingitmorepowerfulviatheintroductionofnewtechnologiesandthereleaseofaseriesofnewtechnologicalproducts,suchasLightDB,arelationaldatabasesupportinginnovativefinancialITapplication business scenarios; LightCore, a cloud-native foundation supporting comprehensivecloud-based business systems; LightAtom, a low-code development platform supporting customerparticipation in customized development; and LightHSL, a cross-chain service management platformsupportingavarietyofheterogeneousunderlyingchains.ItalsolaunchedtheLightCloudplatform,whichoffersonlineAPIdistribution,anonlinedevelopmentplatformandonlinecommunityservicesprovidingcomprehensiveassistancecustomersintheirdigitaltransformationandupgrading.TheCompanywasalsoactivelyinvolvedinthedevelopmentofstandardsforemergingtechnologies.Inthefieldofdatabases,theproductteamreleasedawhitepaperondatabasesfortheindustryandwonthetender to develop database testing standards for SSE's IT application innovation base. In the highperformancecomputingfield,theproductteamreleasedanindustryinitiativeonperformancemeasurementstandardsforFPGA-basedtickerproducts.InAI,theCompany’sfinancialknowledgegraphplatformwasawardedapplicationplatformandconstructionplatformproductcertificatesbyCESI.TheNLPTeamreleasedintelligentQ&Aevaluationcriteria.TheIntelligentMultimediaTeamreleasedevaluationcriteriaforintelligentdual-recordingvisualsystems.TheAIBusinessTeambeganformulationofbusinesseventstandards, which currently remains in the project approval stage. In the blockchain field, the teamparticipatedinthedevelopmentoffiveblockchaintechnicalstandards,andwonthreeindustryawards,withrelatedproductspassingMIITCAICT'sevaluationbasedonfivetechnicalindicators.(III)M&AandInvestment During the Reporting Period, the Company continued to make appropriate efforts concerninginvestmentandmergersandacquisitions,acquiringHengxinLirongandtherebygainingbusinessandintellectualpropertyrightsfromFinastrarelatedtotheSummitandOpicsfundmanagementsystemsinMainland China, Hong Kong and Macau, and carrying out business integration with the subsidiaryCloudwingNetwork,therebyimprovingitslayoutintheOPICSfundtradingsystemfield.TheCompanycontinuedtopursueitsinternationalizationstrategy,acquiringa23.66%stakeinN2NConnect,aleadingtradingsolutionsproviderinMalaysia,throughthesubsidiaryHundsunHoldingsLimited,toexpanditsbusinessintheSoutheastAsianmarket.TheCompanyfurtherimproveditsAIinvestmentresearchproductlinebyincreasingitsshareholdinginDworldAI.TheCompanycontinuedtoinvestintheFinTechecosystem,includinganumberofleadingtech-basedstartupsinnichemarkets,suchasXSKYandHorizon,throughrelevantmutualfunds,andcooperatedwiththesecompaniesinrelatedbusinessareastoachievewin-wincooperationthroughbusinesssynergy. (IV)Systemsmanagement The Company continued its adherence to customer first values. In order to improve customer satisfaction and product quality, the Company actively implemented LTC, IPD and its "Three responsibilities"system,aswellasitsdutymechanismforseniorexecutives,alongwithits"Triumvirate" system,andstrivestoachievehighperformance,highreliabilityandtechnologicalleadershipinproduct quality,therebyimprovingproductqualityanddeliveryefficiency. 2. Managementupgrading TheCompanyconsolidatedtheDSTEstrategicplanningprocesstoenhanceitsstrategicplanning capability,andreformeditsIPD,enablingthefullfunctioningofprocess-orientedorganization,releasing itsorganizationmanualandotherrelatedsupportingmechanisms.TheCompanyalsoreformeditsLTCto establishanLTCprocessstructure,redefineditsbusinessopportunitytypes,establishedandpilotedits sales/delivery project operation mechanism, and defined and designed a sales performance review, decision-makingandauthorizationmechanismforimproveddecision-makingefficiency.Itupgradedits HRsystem,reconstructeditsjobpositionsystem,establishedinitialprofessional,expertandmanagement positionrequirements,completedthefirstroundofjobqualificationauthentication,andimplementedits long-termincentivespolicy. 3.Organizationalgrowth The Company increased its talent recruitment and financial budgetary control efforts, with an emphasisoninformation,graduallyupgradingandputtingitsinternalHRplatform,operationsandR&D platformsonline.TheCompanycontinuedtoworkonbusinessriskmanagement,establishingasound COVID-19preventionandresponsemechanismtoprudentlycombatthepandemic. II. INDUSTRYDEVELOPMENTSDURINGTHEREPORTINGPERIOD 1. Financialindustry.TheCompanymainlyservesvariousfinancialinstitutions;thusconditionsin customers’industryindirectlyaffectitsbusinessactivities.Takingbrokeragesandfunds,theCompany’s maincustomergroups,asexamples,industryassociationdataindicatesthatsecuritiescompanies’total revenuein2021wasRMB502.41billion,representingayear-on-yearincreaseofapproximately12.03%, andthattheirnetprofitwasRMB191.119billion,representingayear-on-yearincreaseofapproximately 21.32%:Asoftheendof2021,publiclyofferedfundsmanagedbyfundmanagementcompaniestotaled approximatelyRMB25.56trillion,representingayear-on-yearincreaseofapproximately28.51%;private equityfundsundermanagementtotaledapproximatelyRMB19.76trillion,representingayear-on-year increaseofapproximately16.51%:(Source:AssetManagementAssociationofChina) Based on the performance of the securities and fund industries described above, the overalldevelopmentofthefinancialindustryin2021wassolid,withfinancialinstitutions’overallrevenueandprofitscontinuingtogrowsteadily,creatingsomepositiveimpactontheCompany’snormaloperations.2. Financialmarketreformandregulation.In2021,capitalmarketreformscontinuedtoexpandandfurtherimprove.Intermsofinstitutionalreform,theCentralEconomicWorkConferencestressedtheneedtoimplementpilotcomprehensivereformofmarket-basedallocationoffactorsofproductionandfullimplementationofaregistrationsystemforstockissuance.Thefurtheradvancementofthemulti-levelmarketwillprovidemoreimpetustoinnovation-driventransformationforeconomicdevelopment.Intermsoffinancialinfrastructure,themergeroftheShenzhenStockExchange’smain-boardandsecond-boardmarkethassolvedproblemsrelatingtohomogeneousmarkets.ThestartoftradingattheBeijingStockExchangewasasuccess,anditnowoffersanidealplatformforservinginnovativesmallandmedium-sizedenterprises,resolvingthefinancingdifficultiesofthesespecialized,excellent,uniqueandinnovativeenterprisesinatargetedmanner. Intermsofinnovativefinancialproducts,thefirstbatchofnineinfrastructurepublicREITswasofficiallylistedandtradedontheShanghaiandShenzhenexchanges,markinganimportantmilestoneinthepilotingprocessofpublicChineseinfrastructureREITs.Sincethen,thepilotingofpublicREITshascontinuedtoaccelerate,andonJuly2,theNationalDevelopmentandReformCommissionissuedtheNoticeonFurtherImprovingthePilotofRealEstateInvestmentTrusts(REITs)intheInfrastructureSector,which extended the pilot to nationwide scope. The official implementation of "Wealth ManagementConnect"intheGuangdong-HongKong-MacaoGreaterBayAreaalsorepresentedinnovationinpersonalinvestmentbusinessandfurtherexpandedoverseasuseoftheRMB,promotingthein-depthdevelopmentofRMBinternationalization.Withthecontinuedinnovationandtransformationofwealthmanagementbusinessmodelsandnewhighsinthescaleofpublicfundmanagement,publicfundinvestmentadvisorybusinessunderwentrapiddevelopment,withatotalof60pilotinstitutionsobtainingapprovalforfundguidelinesonfundinvestmentadvisorybusinessclarifyingresponsibilities withinthatbusiness,wereissuedforconsultation. Astheliberalizationofforeigninvestmentcontinued,approvaltoentertheChinesemarketwasgrantedtowhollyforeign-ownedbrokersandpublicfunds,withmanyadditionalinternationalinvestmentbanksandcapitalmanagementgiantsintheprocessofapplyingfortherelevantlicenses.Althoughtheirentryinto China's financialmarket may challenge localfinancialcompanies in theshortterm, theircorporate governance and assessment mechanisms will, in the long run, positively influence theoptimizationoflocalChinesefinancialcompanies,promotingabigger,betterandstrongerChinesefundindustry. Intermsoffinancialmarketreformandregulatorymeasures,FinTechprovidessupportforbusinesses’efficientandorderlydevelopment,andalsoplaysapositiveroleintheCompany’sdailyoperations.Intermsoffinancialsecurity,theNDRClaunchedthe"DemonstrationProjectfortheSecureandControllableApplicationofCriticalInformationInfrastructure"in2019,withafocusonactivelyandsteadilypromotingthespecificeffectsofcriticalinformationinfrastructureinnovationinthefinancialsector.In2020,theProposalsoftheCentralCommitteeoftheCommunistPartyofChinaonFormulatingtheFourteenthFive-YearPlanforNationalEconomicandSocialDevelopmentandtheLong-termGoalsfor 2035 proposed the "promotion of infrastructure development in an integrated manner" and the"guaranteeingofnationaleconomicsecurity,andstrengtheningofearlywarning,preventionandcontrolmechanisms,withcapacitybuildingtocopewitheconomicsecurityrisks,tomakekeyareassuchasimportant industries, infrastructure, strategic resources and major science & technology secure andcontrollable",thusstronglypromotingtheITapplicationinnovationstrategy.TheITapplicationinnovationindustryisthetechnologicalfoundationofnationalinformationsecurity.Byend-2021,Hundsunhadevaluatedover30businesssystems(suchasUF3.0,TAsystem,investmenttransactionsystems,fundoperationssystems,andcustodianandvaluationsystems)toevaluatewhethersuchsystemsweresuitableforICTapplication,withover20businesssystemsstillundergoingthisprocess.3. Landscapeoftechnologicaldevelopmentandindustrialcompetition.Inrecentyears,thedigitaltransformation ofthe financial industry has continued to accelerate, most especially the data-centric technology changes driving innovation and transformation in financial products and services. Fullyreleasingdata’spotentialwillbethekeydeterminingfactorintheindustry’shigh-qualitydevelopment."Capitalizingondata,utilizingassetsandapplyingintelligence"sumsupHundsun'slogicconcerningtheevolutionofdataintelligence.Toachievethegoalsofdigitally-intelligentcapitalanddigitally-intelligentwealthmanagement,theindustryrequiresenterprise-gradecloud-nativebigdataplatforms,agiledataarchitecture,morediversedata,high-performancedatabases,and,moreimportantly,innovativealternativedataacquiredviadataassetecology.AIismovingrapidlyfromperceptualintelligencetocognitiveintelligence and deep integration with financial services, empowering capital management, customerservice,marketing,operations,riskcontrolandmanyotherareas.Intheeraofdigitalintelligence,thechallengeofartificialintelligenceliesintheconvergenceandintegrationoftechnologies,thedeepeningandbroadeningofapplicationscenarios,andtheimplementationandpromotionofengineering.Intermsoftheindustrylandscape,asthedigitaltransformationoffinancialinstitutionsaccelerates,intensificationofindustrialcompetitioninnichebusinessareas.Financialinstitutions’increasingdemand forcustomer-specific differentiated services andautonomouscontrolhasin recentyears led to their increasing investment in FinTech. With its business experiencing new hotspots, such as data and intelligencebusiness,FICCbusiness,coreinsurancebusinessandinternationalbusiness,theCompanywill leverageitsstrengthstocontinuegrowthinsuchnewareas. III.BUSINESSDEVELOPMENTDURINGTHEREPORTINGPERIOD AleadingproviderofFinTechproductsandservicesinChina,andthereforefocusedonthefinancial industry,theCompanymainlyservescustomersfromsectorsincludingsecurities,futures,publicofferings, trusts,insurance,privateequity,banking,industry,stockexchangesandemergingindustries,providing one-stopFinTechsolutions.Againstthebackgroundoffinancialdigitaltransformationandupgrading,the Company has undergone a gradual deepening from process digitization to business digitization, continuously exploring the intelligent application of FinTech using advanced technologies such as cloud-native, high performance, big data, artificial intelligence and blockchain to empower financial institutionstobettermanageassetsandservetheircustomers,andassistitscustomerstorealizefinancial digitaltransformationandupgrading. Basedontypeofproductorservice,theCompanycategorizesitsprincipalbusinessactivitiesintothe followingsixbusinesssegments:bigretailIT,bigassetmanagementIT,bankingandindustrialIT,data riskandinfrastructureIT,Internetinnovation,andnon-financial.? BigRetailITBusiness BigretailITbusinessconsistsmainlyofITbusinesswithsecuritiesbrokeragesandwealthmanagers.ThesecuritiesbrokerageITbusinessmainlyservescustomersfromthebrokeragebusinesssegment,anditsmaincoreproductiscentralizedtradingsystems,mainlyconfiguredtoprovideaccountmanagement,capitalclearingandsettlement,commissionordermanagement,andaccess(interactionwithexchanges,CSDC,etc.)services.ThewealthmanagementITbusinessmainlyservescustomersfromthemarketing,salesandcustomerservicebusinesssegmentsofallkindsofwealthmanagementinstitutions,includingbanks,securitiesfirmsandthirdparties,andvariousassetmanagementinstitutionssuchasfunds,trustsandmain core products are registration & transfer, asset allocation, product management, and wealthmanagementsales&marketingsystems,whicharemainlyconfiguredtoprovideproductregistration&release,wealthplanningproposals,financialproductmanagement,wealthmanagementsalestransactions,investmentadvisorybusinessoperations,customermarketing/serviceandinvestorservices.Inthesecuritiesbrokeragebusiness,theCompanyhasputUF3.0,itsnext-generationcomprehensivesecuritiesfinancialservicesplatform,intofull-serviceoperation,continuouslydevelopedandimplementeditsdistributedcloud-nativearchitectureinITapplicationinnovation,andachievedin-depthcooperationonthisarchitecturewithsevensecuritiesbrokersincludingHuataiSecurities,FounderSecuritiesandIndustrialSecurities.NewbusinesswithBeijingStockExchangeandintegratedaccountoptimizationalsoprovidedretailmanagerswithampleserviceopportunitiesandrevenues. Inwealthmanagement,theCompanyseizedtheopportunityofferedbytherapiddevelopmentofinvestmentadvisorybusinessforpublicofferings,addingover50partnersintheinvestmentadvisorybusinessin2021,withawinningbidratioofapproximately85%forassetallocationsystems,and11newcustomersforitsnext-generationHuiyingmarketingserviceplatform.Intraditionalbusiness,theCompanycontractedwith40newpartnersviathenew-generationTA,38newpartnersviathefinancialsalessystemand21newpartnersthroughtheCRMandcallcenter,alsocooperatingwithCreditSuisseSecuritiesviatheapp.Inthetrustindustry,theCompanycontractedtojointlydevelopintegratedwealthmanagementsolutionswithnewhigh-qualitycustomersincludingHKRInternationalKunlunTrustandChinaRailwayTrust,andtojointlydevelopfamilytrustsolutionswithnewhigh-qualitycustomersincludingCCBTrust,ShandongInternationalTrustandBankofChina. ? BigAssetManagementITBusiness BigassetmanagementITbusinessmainlyconsistsofassetmanagementITbusinessandinstitutionalserviceITbusiness.TheassetmanagementITbusinessmainlyservescustomersfrominvestmentresearch,investmenttrading,riskmanagementandotherrelatedbusinesssegmentsofsecurities,funds,insurance,banks, trusts and other asset management institutions; its main core products are investmentdecision-makingsystems,investmenttradingmanagementsystems,valuation&accountingsystems,andassetmanagementoperationsystems,whicharemainlyconfiguredtoassistinstitutionsinbuildingasoundinvestmentresearchprocessandfundmanagersinmakinginvestmentdecisions,toprovideatradingplatformfortradersandtosupporttheoperationofmiddleandback-endplatforms.TheinstitutionalserviceITbusinessmainlyservescustomersfrombrokers‘institutionalbusinesssegment;itsmaincoreproductsareinstitutionalservice-relatedbusinesssystems,whicharemainlyconfiguredtosupportbrokers’provisionoftradingofinvestments,complianceandriskcontrol,low-latencytrading,agencytrading,strategy algorithms, custody and outsourcing, integrated private equity operations, research services, individualizedsupportandotherrelatedservicestotheirinstitutionalcustomersathomeandabroad.In 2021, with the continuous opening-up of financial markets, the continuous increase andimprovementofinfrastructureandcontinuousinnovationinfinancialbusinessinChina,aseriesofpolicies,suchastheapprovalofanewfund-raisingmanagementinstitution,theestablishmentoftheBeijingStockExchange,theinterconnectionofbondmarkets,thelaunchofthenewbondplatformoftheShanghaiandShenzhenStockExchanges,theparticipationofinsurancefundsinsecuritieslending,andchangesinthefortheCompany'sassetmanagementbusinesssegment.Inaddition,Hundsun'snextgenerationsystemalsoachievedphasedresults.Outsidethetrustindustryandbankfinancingsub-industry,theCompanyofficiallylauncheditsassetmanagementproductO45tothefirstcustomerinthefundindustry,cooperatedwithmanycustomersfromsecuritiesfirms,banks,trustsandfundsonValuation6.0,alsolaunchingadditionalproductsatthesametime. Astheinstitutionalizationofcustomersaccelerates,byintegratingnewbusinesscooperationscenariossuchasincomeswaps,low-latencytradingandalgorithmpolicies,thei2integratedinstitutionalserviceplatformsolutionprovidesstrongsupportforvarioussell-sideinstitutionsoperationofinstitutionalservicebusiness, while enhancing their single product market coverage. In the field of algorithmic tradingespecially,businesseswerelinkedbythecorecomponentPBsystem,Genus-Finance'salgorithmicservicesandCloudbrokerNetwork,formingaserviceecologyforprivateequityandHNWcustomers.? DataRiskandInfrastructureITBusiness ThedatariskandinfrastructureITbusinesslinemainlyservescustomersfromtheriskmanagementandcompliancebusinesssegmentsofvariousfinancialinstitutions,localexchanges,etc..Itsmaincoreproductsarecompliancemanagementproducts,whicharemainlyconfiguredtoprovideriskmonitoring,compliance reporting, process management, information reporting management, and anti-moneylaunderingservices. ThedatariskandinfrastructureITbusinessexhibitedgenerallysounddevelopmenttrends. ① Dataservicesandtraditionalbusinessgrewsolidly,withexpansionanddeepeningofunderlyingdata,andtheapplicationofspecialdatavialinkages.RapidaccumulationandcoverageofmacroindustrydatabaseEDBdata,togetherwithfinancialmanagementdata,speededuptheself-constructionofmodelsforindustrialchains and fund valuations, and with increased investments in the construction of public opinion,law-breaking,judicialandtrustmodules,thein-depthself-constructionandintegrationofmodelscontinuestoimprove,furtherenhancingtheCompany'sfinancialindustrymarketshare. ②Datamiddleplatformbusiness:HDP,theintegrateddataplatformsystem,hassignificantlyimprovedtheefficiencyofdataassetsystemconstruction,andacquired23newfinancialindustrycustomersin2021.Thenumberofcustomersforproductssuchasregulatorydatareporting,riskdatawarehousesandthenewdatacenterincreased,notablyalongsideasignificantincreaseinregulatorydatareportingmarketshare. ③ Riskcompliancemanagement:productsmaintainedcontinuousgrowthwiththeinfluenceoftheanti-moneylaunderingbusinessfurtherexpanding. ④ Intermsoffinancialinfrastructure,in2021,theCompanyofficiallyputtheNationalCarbonEmissionRegistrationandTradingSystemithadconstructedintooperationinthenationalcarbonmarket, and wonthe bid forconstruction ofa NationalVoluntary Greenhouse GasEmissionReductionTradingSystem,thusestablishingaleadingpositioninthecarbonmarket.Inlocalfinancialsupervision,theCompanyexpandeditsdigitalsupervisionoflocalfinancialbusiness,layingthefoundationforfuturelarge-scalepromotion. ⑤ Intermsofnewbusinessandnewproducts:(1)theCompanyfurtherimproveditsresearchandinvestmentAIproductlinethroughincreasingitsshareholdinginDworldAI,acquiring12newcustomers;(2)ZhejiangXunchangWendaoNetworkTechnologyCo.,Ltd.,ajointventurewithTianfengSecuritiesCo.,Ltd.,wassetuptooperatenewcontentbusinessessuch? BankingandIndustrialITBusiness（未完）  |