Southwest Securities (600369) H1 2026 earnings summary

Executive summary

• Achieved revenue of RMB 2.07 billion in H1 2026, up 37.67% year-over-year; net profit attributable to shareholders reached RMB 604.53 million, up 42.86% year-over-year; basic EPS was RMB 0.09, up 50%.

• Total assets grew to RMB 113.83 billion, up 8.67% from year-end 2025; net assets RMB 26.22 billion.

• Proposed interim cash dividend of RMB 0.2 per 10 shares, totaling RMB 132.9 million.

Financial highlights

• Operating income: RMB 2.07 billion, up 37.67% year-over-year.

• Net profit attributable to shareholders: RMB 604.53 million, up 42.86% year-over-year.

• Total assets: RMB 113.83 billion, up 8.67% from year-end 2025.

• Net capital: RMB 17.62 billion; net capital/total risk reserve: 250%.

• Cash flow from operating activities: -RMB 1.72 billion (net outflow), mainly due to increased repo and margin lending.

Outlook and guidance

• Will continue to focus on customer-centric wealth management, expand product coverage, and accelerate digital transformation.

• Investment banking to deepen regional integration and pursue high-quality development, aiming for more landmark projects.

• Proprietary trading to maintain prudent, diversified strategies and enhance risk management.