Group 1 - Cathay Pacific Securities announced on January 27 that it will recognize an asset impairment provision of approximately 1.63 billion RMB for the period from October to December 2025, which will reduce the total profit by approximately 1.63 billion RMB and the net profit by approximately 1.187 billion RMB [1] Group 2 - International gold prices have surpassed 5,000 USD, marking a 280% increase over the past seven years, with experts suggesting that the key factors influencing this trend include the US dollar, the international monetary system, interest rate cuts, and technological revolutions [1]

Core Viewpoint - Guotai Haitong expects a significant increase in net profit due to the merger, projecting a net profit of 27.533 billion to 28.006 billion RMB, representing a year-on-year increase of 111% to 115% [1] Group 1: Performance Forecast - The company anticipates a non-recurring net profit of 21.053 billion to 21.516 billion RMB, reflecting a year-on-year increase of 69% to 73% [1] - The merger is expected to enhance operational management and achieve a "1+1>2" effect, leveraging brand advantages and scale effects [1] - The company aims to optimize its service systems for retail, institutional, and corporate clients to improve overall capabilities and achieve record-high asset scale and operational performance [1] Group 2: Asset Impairment Provision - Guotai Haitong announced a provision for asset impairment of 1.630 billion RMB for the fourth quarter of 2025, which will reduce net profit by 1.187 billion RMB, exceeding 10% of the audited net profit for 2024 [2] - The impairment provision is attributed to routine provisions for new leasing business following the merger and the application of accounting standards for business combinations under common control [2] - The company reported a total of 2.38 billion RMB in asset impairment losses for the first three quarters of 2025, indicating a potential total of approximately 4 billion RMB for the entire year [3] Group 3: Leasing Business Model - The leasing business model focuses on risk control and asset quality assurance while generating profit from interest margins after accounting for expenses and impairment provisions [3] - Specific impairment provisions included 727 million RMB for long-term receivables and 162 million RMB for receivables from financing leases, among others [3] - The leasing business, initiated by the subsidiary Haitong Hengxin, is a new segment for Guotai Haitong following the merger [2][3]

证券日报网讯 1月27日，国泰海通在互动平台回答投资者提问时表示，公司主要通过全资附属公司海通 银行在欧盟地区展业，海通银行通过葡萄牙总部以及位于波兰、西班牙等分支机构运营。海通银行具有 全银行牌照，围绕企业银行、投资银行以及资产管理三大重点业务领域，深耕欧盟本土业务。根据已披 露的2024年年度报告，海通银行营业收入对公司贡献较小。 （编辑 姚尧） ...

报告期内，公司积极践行金融使命，主动服务国家重大战略，坚持稳中求进、主动作为，平稳高效完成 合并交易，有序推动整合融合，扎实做好金融"五篇大文章"，全面提升经营管理水平，初步实 现"1+1>2"的效果，为加快打造一流投资银行奠定坚实基础。 智通财经APP讯，国泰海通(601211.SH)发布公告，公司预计2025年年度实现归属于母公司所有者的净利 润人民币275.33亿元到人民币280.06亿元，同比增加111%到115%。 2025年，国内资本市场活跃度与景气度上行，公司积极把握市场机遇，充分发挥合并后的品牌优势、规 模效应和互补效应，优化升级零售、机构、企业三大客户服务体系，以提升综合能力实现客户经营"增 量扩面、提质增效"，资产规模及经营业绩创历史新高，财富管理、机构与交易等业务收入同比显著增 长，此外因公司吸收合并海通证券股份有限公司(以下简称本次吸收合并)所产生的负商誉计入营业外收 入。 ...

格隆汇1月27日丨国泰海通(02611.HK)公告，经初步测算，预计集团2025年年度实现归属于母公司所有 者的净利润人民币275.33亿元到人民币280.06亿元，与上年同期(人民币130.24亿元)相比，将增加人民币 145.09亿元到人民币149.82亿元，同比增加111%到115%。2.预计集团2025年年度实现归属于母公司所有 者的扣除非经常性损益的净利润人民币210.53亿元到人民币215.16亿元，与上年同期(人民币124.40亿元) 相比，将增加人民币86.13亿元到人民币90.76亿元，同比增加69%到73%。 ...

Core Viewpoint - The company expects a significant increase in net profit for 2025, projecting a net profit attributable to shareholders of RMB 27.533 billion to RMB 28.006 billion, representing a year-on-year increase of 111% to 115% [1] - The company is actively pursuing its financial mission and aims to enhance its operational management level while achieving synergies from its merger [1] Financial Performance - The projected net profit excluding non-recurring items is expected to be between RMB 21.053 billion and RMB 21.516 billion, reflecting a year-on-year increase of 69% to 73% [1] - The company anticipates record-high asset scale and operational performance, with significant growth in wealth management, institutional, and trading business revenues [1] Strategic Initiatives - The company is committed to serving national strategic initiatives and has successfully completed its merger, focusing on integration and operational efficiency [1] - The company plans to optimize and upgrade its service systems for retail, institutional, and corporate clients to enhance comprehensive capabilities and achieve growth in client operations [1] Market Outlook - The domestic capital market is expected to see increased activity and prosperity, which the company aims to leverage by utilizing the advantages of its merger, including brand strength and scale effects [1] - The company has recognized negative goodwill from the merger with Haitong Securities, which will be included in non-operating income [1]

Group 1 - The company expects to achieve a net profit attributable to shareholders of RMB 275.33 billion to RMB 280.06 billion in 2025, representing an increase of RMB 145.09 billion to RMB 149.82 billion compared to the previous year, which is a year-on-year increase of 111% to 115% [1] - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of RMB 210.53 billion to RMB 215.16 billion in 2025, an increase of RMB 86.13 billion to RMB 90.76 billion compared to the previous year, reflecting a year-on-year increase of 69% to 73% [1] - The company is committed to its financial mission, actively serving national strategic initiatives, and has successfully completed merger transactions while enhancing operational management levels [1] Group 2 - In 2025, the domestic capital market is expected to see increased activity and prosperity, and the company aims to leverage market opportunities by optimizing its service systems for retail, institutional, and corporate clients [2] - The company has achieved historical highs in asset scale and operating performance, with significant year-on-year growth in wealth management, institutional, and trading business revenues [2] - The negative goodwill generated from the absorption merger with Haitong Securities has been included in non-operating income [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 國泰海通證券股份有限公司 Guotai Haitong Securities Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02611） 關於計提資產減值準備的公告 本公告乃由國泰海通證券股份有限公司（「本公司」，連同其附屬公司「本集團」）根 據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文（定義見香港聯 合交易所有限公司證券上市規則（「上市規則」））及上市規則第13.09條和第13.10B 條而作出。 根據中國企業會計準則（「企業會計準則」）和本公司會計政策的相關規定，本集團 對截至2025年12月31日的各項需要計提減值的資產進行了初步預期信用損失評估 和減值測試，具體如下： 2025年10月至2025年12月，本集團計提資產減值準備人民幣162,979萬元， 減少利潤總額人民幣162,979萬元，減少歸屬於母公司所有者的淨利潤人民幣 118,725萬元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 國泰海通證券股份有限公司 Guotai Haitong Securities Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02611） 2025年年度業績預增公告 本公告乃由國泰海通證券股份有限公司（「本公司」，連同其附屬公司「本集團」）根 據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文（定義見香港聯 合交易所有限公司證券上市規則（「上市規則」））及上市規則第13.09條和第13.10B 條而作出。 1 1. 經初步測算，預計本集團2025年年度實現歸屬於母公司所有者的淨 利潤人民幣275.33億元到人民幣280.06億元，與上年同期（人民幣 130.24億元）相比，將增加人民幣145.09億元到人民幣149.82億元， 同比增加111%到115%。 2. 預計本集團2025年年度實現歸屬於母公司所有者的扣除非經常性損 益的淨利潤人民幣210.53億元到人民 ...

报告期内，国泰海通全面提升经营管理水平，稳中求进、主动作为，平稳高效完成合并交易，有序推动 整合融合，充分发挥合并后的品牌优势、规模效应和互补效应，优化升级零售、机构、企业三大客户服 务体系，以提升综合能力实现客户经营"增量扩面、提质增效"，资产规模及经营业绩创历史新高，财富 管理、机构与交易等业务收入同比显著增长，初步实现"1+1>2"的效果。 （文章来源：证券日报） 本报讯 1月27日，国泰海通发布2025年年度业绩预增公告，预计实现归母净利润275.33亿元到280.06亿 元，同比增长111%到115%；预计实现归母扣非净利润210.53亿元到215.16亿元，同比增长69%到73%。 2025年是国泰海通完成合并重组交易、立足新起点迈向新征程的开局之年。国泰海通坚持把"功能性"放 在首要位置，积极践行金融使命，主动服务国家重大战略，扎实做好金融"五篇大文章"，全年服务36家 科创类企业股权融资435亿元，新增投资硬科技规模62亿元，累计构建近700亿元科创主题基金矩阵，发 行首批证券公司科创债；碳金融业务继续保持行业领先地位，服务百余家实体企业履约交易需求，绿色 债券承销家数和规模均排名行业前列，M ...