Guotai Junan Securities (601211) Q1 2025 earnings summary

Executive summary

• Achieved significant growth in revenue and net profit in Q1 2025, driven by the absorption of Haitong Securities and increased investment income.

• Completed the merger with Haitong Securities on March 14, 2025, resulting in a substantial increase in total assets and equity.

• Changed company name and stock abbreviation to reflect the new entity post-merger.

Financial highlights

• Operating revenue reached RMB 11.77 billion, up 47.48% year-over-year.

• Net profit attributable to shareholders was RMB 12.24 billion, a 391.78% increase year-over-year, mainly due to negative goodwill from the merger.

• Excluding non-recurring items, net profit attributable to shareholders was RMB 3.29 billion, up 60.65% year-over-year.

• Basic and diluted EPS were RMB 1.16, up 346.15% year-over-year.

• Total assets at quarter-end were RMB 1.69 trillion, up 61.58% from year-end 2024.

• Shareholders’ equity increased 88.37% to RMB 321.70 billion.

Outlook and guidance

• The company is confident in its future development and has initiated an A-share buyback to support share value and shareholder interests.