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Zheshang Securities (601878) investor relations material
Zheshang Securities Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 reached RMB 2.36 billion, up 40.82% year-over-year, driven by growth in brokerage and investment banking.
Net profit attributable to shareholders was RMB 751 million, a 35.20% increase year-over-year.
Operating cash flow turned positive at RMB 6.77 billion, compared to a negative RMB 1.33 billion in Q1 2025.
Financial highlights
Total assets rose to RMB 248.02 billion, up 10.32% from year-end 2025.
Basic and diluted EPS were RMB 0.17, up 41.67% year-over-year.
Net assets attributable to shareholders stood at RMB 36.79 billion.
Gross margin improved due to higher brokerage and investment banking income.
Outlook and guidance
Management attributes growth to increased brokerage and investment banking revenues.
No explicit forward-looking guidance provided, but positive momentum in core business lines noted.
- 2025 revenue and net profit hit record highs, boosted by core business growth and Guodu Securities acquisition.601878
Q4 202518 Apr 2026 - Revenue and profit fell, but AUM and net assets per share improved amid market volatility.601878
Q2 202422 Dec 2025 - Net profit rose 46.54% to RMB 1.15 billion, with strong core income despite lower total revenue.601878
Q2 202522 Dec 2025 - Q3 net profit rose 14.71% despite a 5.75% nine-month revenue decline and higher equity per share.601878
Q3 202422 Dec 2025 - Net profit up 10.04% despite 10.33% revenue drop; investment gains and net interest income surged.601878
Q4 202422 Dec 2025 - Net profit surged 24.17% year-over-year despite a 22.89% drop in revenue.601878
Q1 202518 Dec 2025 - Strong revenue and profit growth, boosted by trading and Guodu Securities consolidation.601878
Q3 202531 Oct 2025
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