2 1 Shi Ji Jing Ji Bao Dao·2025-10-20 08:28Core Viewpoint - Shenwan Hongyuan Securities Co., Ltd. maintains its "25 Shen D11" rating at AAA/A-1 with a stable outlook, reflecting its strong market position and financial health [1] Group 1: Company Strengths - The company is recognized as one of the large comprehensive mainstream securities firms in the country, possessing strong shareholder backing and brand influence [1] - It has established a diversified business system with numerous branches, consistently ranking in the top tier of the industry across multiple business lines [1] - The company has demonstrated good governance, achieving an AA regulatory rating from 2022 to 2024, indicating effective risk control capabilities [1] Group 2: Financial Performance - Since 2022, the company's profitability has remained robust, showcasing strong financial performance [1] - As of June 2025, the company is expected to have strong capital strength, good capital adequacy, and high leverage levels, with overall liquidity indicators performing well [1] Group 3: Debt and Liquidity Management - The report highlights the company's debt structure and liquidity management, noting that its debt is primarily short-term, which necessitates ongoing attention to liquidity management [1]