Shenwan Hongyuan Group Co (000166) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was RMB17.86bn, down 8.41% YoY; net profit was RMB7.95bn, down 9.63%. Q3 revenue and attributable profit fell 48.45% and 62.21% YoY, respectively.

• Total assets reached RMB789.84bn at Sep. 30, up 6.51% from year-end 2025; equity attributable to shareholders was RMB117.70bn, up 5.47%.

Financial highlights

• Q3 revenue was RMB4.02bn, down 48.45% YoY; attributable net profit was RMB1.41bn, down 62.21%, and basic EPS was RMB0.06, down 60.00%.

• 9M attributable net profit was RMB7.14bn, down 10.92% YoY; adjusted for non-recurring items, it was RMB7.05bn, down 11.35%.

• 9M net commission income rose to RMB7.34bn from RMB6.23bn; net interest income rose to RMB992.9m from RMB462.0m.

• 9M investment income was RMB12.74bn versus RMB10.84bn; fair-value changes were a RMB1.49bn loss versus a RMB115.7m loss.

• 9M operating cash flow was RMB8.88bn, up 164.15% YoY from RMB3.36bn.

Key financial ratios and metrics

• Weighted average ROE was 6.21% for 9M, down 1.20 percentage points YoY; Q3 ROE was 1.21%, down 2.19 percentage points.

• Securities subsidiary net capital was RMB94.53bn, up 5.57% from year-end 2025; risk coverage was 416.70%, up 47.94 percentage points.

• Liquidity coverage was 195.63%, up 53.43 percentage points; net stable funding ratio was 161.87%, up 18.10 percentage points.

• Capital leverage ratio was 17.69%, down 0.07 percentage points; net capital-to-net-assets ratio was 72.08%, up 3.00 percentage points.