Haitong Securities (600837) Q2 2025 earnings summary

Executive summary

• Completed a landmark merger, forming a leading comprehensive financial services provider with enhanced capital strength, broader business scope, and improved risk management capabilities.

• Achieved significant growth in revenue and net profit, driven by business expansion and merger synergies.

• Maintained industry-leading positions in core business segments and continued digital transformation and ESG initiatives.

Financial highlights

• Operating revenue for H1 2025 reached RMB 23.87 billion, up 77.71% year-over-year.

• Net profit attributable to shareholders was RMB 15.74 billion, up 213.74% year-over-year.

• Excluding non-recurring items, net profit was RMB 7.28 billion, up 59.76% year-over-year.

• Total assets at June 30, 2025, were RMB 1.80 trillion, up 72.24% from year-end 2024.

• Basic and diluted EPS were RMB 1.11, up 113.46% year-over-year.

• Cash flow from operating activities was RMB 13.32 billion, a significant turnaround from negative in the prior year.

Outlook and guidance

• Focus on integration and high-quality development post-merger, aiming to build a world-class investment bank.

• Plans to deepen business and management integration, enhance customer-centric strategies, and accelerate digital and ESG initiatives.

• Targets continued growth in core business segments and further improvement in risk management and compliance.