Changjiang Securities(SZ:000783) Sou Hu Cai Jing·2025-09-19 13:01Core Viewpoint - As of September 19, 2025, Changjiang Securities (000783) closed at 7.92 yuan, down 1.0%, with a trading volume of 543,000 hands and a transaction value of 432 million yuan. The net outflow of main funds was 34.5 million yuan, accounting for 7.99% of the total transaction value, while retail investors saw a net inflow of 40.5 million yuan, representing 9.4% of the total transaction value [1][2]. Financial Performance - For the first half of 2025, Changjiang Securities reported a main revenue of 4.705 billion yuan, a year-on-year increase of 64.79%. The net profit attributable to shareholders was 1.737 billion yuan, up 120.76% year-on-year. The net profit after deducting non-recurring gains and losses was 1.711 billion yuan, increasing by 123.28% year-on-year [3]. - In Q2 2025, the company achieved a single-quarter main revenue of 2.19 billion yuan, a year-on-year increase of 43.79%, and a net profit attributable to shareholders of 757 million yuan, up 96.75% year-on-year [3]. Key Financial Ratios - Changjiang Securities has a total market value of 43.798 billion yuan, with a net asset value of 40.524 billion yuan. The net profit stands at 1.737 billion yuan, with a price-to-earnings ratio (P/E) of 12.61 and a price-to-book ratio (P/B) of 1.27. The company’s gross margin is 0%, while the net margin is 36.98%, and the return on equity (ROE) is 4.76% [3]. Market Activity - Over the past five days, the stock has experienced fluctuations in fund flows, with significant net outflows from main and speculative funds, while retail investors have shown a net inflow. On September 18, the stock saw a larger net outflow of 166.7 million yuan from main funds, indicating a trend of selling pressure [2][4]. Business Overview - Changjiang Securities provides a comprehensive range of financial services, including brokerage, wealth management, research, and investment banking services. The company is also expanding its overseas business through Changjian International, offering brokerage, investment banking, asset management, and futures services [3][4].