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Zheshang Securities (601878) investor relations material
Zheshang Securities Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M revenue rose 16.77% YoY to RMB7,926,879,253.94 and attributable net income increased 20.82% to RMB2,285,840,253.72; Q3 revenue and net income fell 25.11% and 9.17%, respectively.
9M operating cash flow was RMB6,340,075,514.77, up 16.35% YoY.
Financial highlights
Q3 total profit was RMB935,534,335.84, down 19.03% YoY; 9M total profit was RMB3,202,139,420.99, up 18.21%.
Q3 adjusted net income, excluding non-recurring items, was RMB699,108,966.40, down 4.70% YoY; 9M adjusted net income was RMB2,300,536,600.99, up 23.25%.
9M net income was RMB2,630,975,939.83, compared with RMB2,230,018,516.44 in the prior-year period.
Segment performance
9M brokerage net fee income increased to RMB2,934,327,947.62 from RMB2,325,367,208.35 YoY.
9M investment banking net fee income rose to RMB673,150,006.23 from RMB505,859,945.71; asset management net fee income was RMB246,886,005.75 versus RMB255,661,834.84.
9M net interest income increased 30.75% YoY to RMB1,184,771,337.58, primarily reflecting higher financing-business interest income.
- Revenue and net profit surged over 40% year-over-year, with robust growth across all business lines.601878
Q2 2026 - Q1 2026 saw 40.82% revenue growth and 35.20% higher net profit, led by brokerage and IB gains.601878
Q1 2026 - 2025 revenue and net profit hit record highs, boosted by core business growth and Guodu Securities acquisition.601878
Q4 2025 - Strong revenue and profit growth, boosted by trading and Guodu Securities consolidation.601878
Q3 2025 - Net profit rose 46.54% to RMB 1.15 billion, with strong core income despite lower total revenue.601878
Q2 2025 - Q3 net profit rose 14.71% despite a 5.75% nine-month revenue decline and higher equity per share.601878
Q3 2024 - Revenue and profit fell, but AUM and net assets per share improved amid market volatility.601878
Q2 2024 - Net profit up 10.04% despite 10.33% revenue drop; investment gains and net interest income surged.601878
Q4 2024 - Net profit surged 24.17% year-over-year despite a 22.89% drop in revenue.601878
Q1 2025
Next Zheshang Securities earnings date
Next Zheshang Securities earnings date
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