Guotai Junan Securities (601211) investor relations material

Executive summary

• Completed the largest A+H dual-listed market merger in China's capital market history, integrating operations and achieving record asset scale and performance, with total assets exceeding ¥2.1 trillion and net assets of ¥330.4 billion at year-end, both leading the industry.

• Achieved operating income of ¥63.1 billion and net profit attributable to shareholders of ¥27.8 billion, up 87.4% and 113.5% year-over-year, respectively, with adjusted net profit (excluding non-recurring items) of ¥21.4 billion.

• Maintained industry leadership in brokerage, asset management, IPO underwriting, and other key business metrics, with significant expansion in client base and product scale.

• Board approved a cash dividend of ¥0.50 per share for the year, with total cash dividends and buybacks amounting to ¥9.97 billion, representing 35.8% of net profit.

Financial highlights

• Operating income rose 87.4% year-over-year to ¥63.1 billion; net profit attributable to shareholders increased 113.5% to ¥27.8 billion.

• Adjusted net profit (excluding non-recurring items) was ¥21.4 billion, up 71.9% year-over-year.

• Total assets doubled to ¥2.11 trillion; net assets attributable to shareholders reached ¥330.4 billion.

• Basic and diluted EPS were both ¥1.74, up 25.2% year-over-year; ROE was 9.78%, up 1.64 percentage points.

• Net cash from operating activities was ¥81.1 billion, up 44.6% year-over-year.

Outlook and guidance

• Strategic focus on high-quality growth, digital transformation, and international expansion, with a new three-year plan targeting domestic leadership and international excellence.

• Continued investment in AI, digital platforms, and cross-border business, aiming to further enhance service capabilities and operational efficiency.

• Plans to deepen integration, optimize resource allocation, and maintain robust capital management to support future growth.