Sinolink Securities (600109) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 1.89 billion, up 27.14% year-over-year, with net profit attributable to shareholders at RMB 582.64 million, a 58.82% increase year-over-year.

• Strong growth in net fee and commission income and investment income contributed to profit gains.

Financial highlights

• Operating income rose to RMB 1.89 billion from RMB 1.48 billion year-over-year.

• Net profit attributable to shareholders increased to RMB 582.64 million from RMB 366.85 million year-over-year.

• Basic and diluted EPS were RMB 0.158, up 59.60% year-over-year.

• Net cash flow from operating activities was negative RMB 2.42 billion, compared to positive RMB 5.83 billion in Q1 2024, mainly due to increased outflows for trading financial assets.

• Total assets at quarter-end were RMB 140.62 billion, up 17.07% from year-end 2024.

Outlook and guidance

• Management attributes profit growth to higher fee and commission income and investment returns.