Zheshang Securities (601878) Q4 2024 earnings summary

Executive summary

• Achieved operating revenue of RMB 15.82 billion in 2024, down 10.33% year-over-year; net profit reached RMB 2.01 billion, up 10.04% year-over-year.

• Navigated a more complex and volatile capital market environment, maintaining steady growth despite industry pressures.

Financial highlights

• Operating profit increased 9.92% year-over-year to RMB 2.43 billion.

• Net profit attributable to shareholders rose 10.17% year-over-year to RMB 1.93 billion.

• Basic EPS increased 6.52% to RMB 0.49; diluted EPS up 9.52% to RMB 0.46.

• Weighted average ROE improved by 0.15 percentage points to 6.76%.

• Total assets grew 5.88% to RMB 154.09 billion; shareholders' equity up 30.26% to RMB 35.19 billion.

Segment performance

• Net interest income increased 31.11% year-over-year to RMB 988.95 million.

• Fee and commission income decreased 6.21% to RMB 3.61 billion.

• Investment and fair value gains surged 68.56% to RMB 1.75 billion.

• Other business income declined 21.14% to RMB 9.42 billion.