Jing Ji Guan Cha Wang·2025-08-28 14:42Core Viewpoint - China Galaxy Securities reported strong financial performance in the first half of 2025, with significant growth in revenue and net profit, indicating a robust recovery and market position in the securities industry [1][2]. Financial Performance - The company's operating revenue for the first half of 2025 was 13.747 billion yuan, a year-on-year increase of 37.71% [1]. - Net profit attributable to shareholders reached 6.488 billion yuan, reflecting a year-on-year growth of 47.86% [1]. - The profit level achieved is the highest since the first half report in 2010 [2]. Business Segments - Wealth management business line generated 5.926 billion yuan in revenue, up 35.55% year-on-year, accounting for 43.11% of total revenue [2]. - Investment trading business revenue was 3.858 billion yuan, a year-on-year increase of 5.81%, representing 28.07% of total revenue [2]. Client Base and Market Position - As of June 30, 2025, the total number of domestic corporate clients exceeded 18 million, an increase of approximately 2 million year-on-year [2]. - The company has adjusted its branch layout, reducing the number of operating branches to 460, losing the title of the broker with the most branches [2]. Investment Strategy - The company is focusing on advanced technology sectors such as AI chips, quantum computing, biomedicine, new energy materials, and aerospace technology for equity investments [3]. - It continues to participate in central bank swap projects to stabilize the capital market and boost investor confidence [3]. Investment Banking Performance - In the investment banking sector, the company completed one IPO, four refinancing projects, and two directed issuance projects in the New Third Board in the first half of 2025 [3]. - The equity underwriting scale was 20.598 billion yuan, ranking eighth in the market, while the scale of major asset restructuring transactions was 11.5 billion yuan, ranking seventh [3]. International Business - In the Hong Kong market, the company completed 11 IPO projects and underwrote 103 offshore bonds, showing stable growth in investment banking rankings [4]. - In Southeast Asia, it completed 34 equity and bond financing transactions, totaling 1.8 billion Singapore dollars, including the largest REIT IPO in Malaysia [4].