Zhong Guo Jing Ji Wang·2025-09-18 23:23Core Viewpoint - The financial performance of Everbright Securities has shown a significant recovery in the first half of 2025, marking the first revenue growth after three consecutive years of decline [1][2]. Financial Performance Summary - In the first half of 2025, the company achieved operating revenue of 5.125 billion yuan, an increase of 22.49% year-on-year [1][2]. - The net profit attributable to shareholders of the parent company was 1.683 billion yuan, reflecting a year-on-year increase of 21.03% [1][2]. - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, was 1.543 billion yuan, up 10.09% compared to the previous year [1][2]. Historical Performance Context - The company had experienced a decline in revenue for three consecutive years prior to this growth, with 2022 seeing a revenue drop of 35.48% to 10.780 billion yuan [4][5]. - In 2023, the company reported a revenue of 10.031 billion yuan, a decrease of 6.94%, but the net profit increased by 33.93% to 4.271 billion yuan [5][10]. - The 2024 financial results indicated a further decline in revenue to 9.598 billion yuan, down 4.32%, while the net profit decreased by 28.39% to 3.058 billion yuan [10]. Management Changes - The revenue growth in 2025 follows a change in leadership, with Zhao Ling being elected as the chairman after the resignation of former chairman Yan Jun in April 2022 [3][4]. Regulatory Issues - The company has faced regulatory scrutiny, with its Lishui and Nanning branches receiving warning letters for compliance issues, indicating challenges in internal controls and management practices [8][9].