Guosen Securities (002736) Q3 2026 earnings summary

Executive summary

• Q3 2026 total revenue was RMB 2,645.94 million, down 67.45% YoY; net income attributable to shareholders was RMB 766.60 million, down 79.66% YoY.

• 9M revenue fell 20.82% YoY to RMB 15,204.80 million, while attributable net income declined 28.88% to RMB 6,498.18 million.

Financial highlights

• Q3 adjusted net income attributable to shareholders, excluding non-recurring items, was RMB 767.26 million, down 79.60% YoY; 9M adjusted net income was RMB 6,483.37 million, down 29.01%.

• Basic and diluted EPS were RMB 0.05 in Q3, down 86.11% YoY; 9M EPS was RMB 0.56, down 34.12%.

• Operating cash flow net inflow reached RMB 5,472.45 million in 9M, up 114.69% YoY.

Segment performance

• 9M net interest income increased 60.91% YoY to RMB 1,881.24 million, reflecting higher interest income from deposits and financing businesses.

• 9M investment income fell 36.82% YoY to RMB 5,180.94 million; fair-value changes swung to a RMB 1,557.95 million loss from a RMB 2,065.78 million gain.