Zheshang Securities (601878) Q2 2026 earnings summary

Executive summary

• Achieved record-high performance for the first half of 2026, with rapid growth across all business lines, driven by active capital markets and increased trading volumes.

• Net profit attributable to shareholders rose 40.21% year-over-year; revenue up 49.33% year-over-year.

• All major business segments—brokerage, wealth management, investment banking, asset management, and futures—reported significant improvements in scale and profitability.

Financial highlights

• Operating revenue: ¥5.70 billion, up 49.33% year-over-year.

• Net profit attributable to shareholders: ¥1.61 billion, up 40.21% year-over-year.

• Total assets: ¥271.50 billion, up 20.77% from previous year-end.

• Basic and diluted EPS: ¥0.36, up 44% year-over-year.

• Net cash flow from operating activities: ¥15.64 billion (positive turnaround from previous year’s outflow).

Outlook and guidance

• Management expects continued growth, leveraging digital transformation and market opportunities, while remaining cautious of macroeconomic and regulatory uncertainties.

• Focus remains on strengthening core businesses, risk management, and innovation to sustain high-quality development.