Southwest Securities (600369) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached RMB 2.52 billion, up 42.75% year-over-year, with Q3 revenue up 77.10% compared to the same quarter last year.

• Net profit attributable to shareholders for the first nine months was RMB 705.74 million, a 46.11% increase year-over-year; Q3 net profit rose 97.95% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 0.11, up 57.14% year-over-year.

Financial highlights

• Operating income for the first nine months was RMB 2.52 billion, up 42.75% year-over-year.

• Total profit for the first nine months was RMB 860.69 million, up 77.27% year-over-year.

• Net cash flow from operating activities was negative RMB 1.35 billion, a significant decrease from the previous year, mainly due to changes in interbank funding and trading activities.

• Total assets at the end of Q3 were RMB 96.53 billion, up 15.96% from the end of last year.

• Shareholders’ equity stood at RMB 25.93 billion, up 0.47% from the end of last year.

Outlook and guidance

• The company plans a Q3 cash dividend of RMB 0.1 per 10 shares, totaling RMB 66.45 million, representing 23.52% of Q3 net profit.