CGS(SH:601881) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-30 12:57Core Viewpoint - China Galaxy Securities has reported impressive financial results for the first half of 2025, achieving significant growth in both revenue and net profit, marking a historic high in its 25-year history [2][3]. Financial Performance - The company achieved operating revenue of 13.747 billion yuan, a year-on-year increase of 37.71% [2]. - Net profit attributable to shareholders reached 6.488 billion yuan, up 47.86% year-on-year [2]. - The weighted average return on equity (ROE) was 5.16%, an increase of 1.53 percentage points compared to the same period last year [2]. - Earnings per share rose to 0.52 yuan, reflecting a growth of 36.84% [2]. - Total assets reached 781.74 billion yuan, a growth of 10.24% from the end of the previous year [2]. Business Structure Optimization - The proportion of light capital business has increased significantly, accounting for 46.74% of total revenue, up from 32.36% in 2024 [4]. - Light capital business revenue grew nearly 30% year-on-year, with wealth management, investment banking, and asset management all showing robust growth [4][5]. - Wealth management revenue was 5.926 billion yuan, a 35.55% increase [4]. Wealth Management Growth - The number of domestic clients surpassed 18 million, with nearly 1 million new clients added since the end of 2024 [6]. - The cumulative number of personal pension accounts exceeded 180,000, indicating strong growth in inclusive finance [6]. - Financial product holdings reached 214.147 billion yuan, with a 1.4% increase since the beginning of the year [6]. Digital Transformation - The company is enhancing its digital capabilities, with AI-driven customer service significantly improving efficiency [7]. - The investment advisory team expanded by 313 members, bringing the total to 4,111, enhancing service coverage and expertise [7]. Investment Banking Highlights - The company ranked eighth in equity underwriting with a scale of 20.598 billion yuan and seventh in major asset restructuring transactions at 11.5 billion yuan [8][9]. - Notable projects include assisting the successful domestic listing of a technology innovation company and advising on significant state-owned enterprise restructuring [8]. International Expansion - The international business has shown strong growth, with significant achievements in the Hong Kong market and Southeast Asia [9]. - The company completed 11 IPO projects in Hong Kong and 34 equity and bond financing transactions in Southeast Asia, enhancing its brand influence [9]. Future Outlook - As it celebrates its 25th anniversary, the company aims to continue enhancing its service capabilities and expanding its light capital business [10][11]. - The firm is focused on digital transformation and international market expansion, particularly in Southeast Asia, to strengthen its competitive position [11][12].