China Great Wall Securities (002939) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in revenue and net profit for the first nine months of 2025, driven by higher financial asset returns and increased brokerage commissions.

• Completed major capital market activities, including bond and short-term note issuances, and implemented significant corporate governance changes.

Financial highlights

• Operating revenue for Q3 2025 was ¥1.26 billion, up 45.45% year-over-year; year-to-date revenue reached ¥4.12 billion, up 44.61%.

• Net profit attributable to shareholders for Q3 was ¥545.95 million, up 44.99% year-over-year; year-to-date net profit was ¥1.93 billion, up 75.83%.

• Basic and diluted EPS for Q3 was ¥0.14, up 55.56% year-over-year; year-to-date EPS was ¥0.48, up 77.78%.

• Operating cash flow for the first nine months was ¥11.01 billion, down 21.86% year-over-year.

• Total assets at period end were ¥135.96 billion, up 10.31% from the previous year-end.

Outlook and guidance

• Growth attributed to increased financial asset returns and higher brokerage commission income.