Guosen Securities (002736) Q2 2026 earnings summary

Executive summary

• Operating revenue for H1 2026 reached ¥125.59 billion, up 13.40% year-over-year, with net profit attributable to shareholders at ¥57.32 billion, a 6.79% increase year-over-year.

• Fee and commission income surged 51.57% year-over-year, driven by robust brokerage and institutional business, while investment income declined 22.39% year-over-year.

• Wealth management and institutional business contributed 61.25% of total revenue, up 47.50% year-over-year, while investment and trading revenue fell 22.59% year-over-year.

• The company maintained a prudent risk management approach, with a risk coverage ratio of 354.04% and a capital adequacy ratio well above regulatory requirements.

Financial highlights

• Total assets at June 30, 2026, were ¥6,054.92 billion, up 4.98% from year-end 2025; total liabilities rose 7.38% to ¥4,780.09 billion.

• Net assets attributable to shareholders decreased 3.14% to ¥1,272.67 billion.

• Basic and diluted EPS were both ¥0.51, up from ¥0.49 year-over-year.

• Operating cash flow was ¥282.33 billion, down 12.48% year-over-year.

• Return on equity (ROE) was 4.08%, nearly flat year-over-year.

Outlook and guidance

• The company will continue to focus on high-quality development, digital transformation, and risk control, aiming to maintain stable growth and enhance service capabilities.

• Management expects continued policy support for capital markets and further expansion in wealth management, institutional, and investment banking segments.