Nan Fang Du Shi Bao·2025-10-30 14:55Core Insights - The core viewpoint of the article highlights the strong financial performance of GF Securities in the first three quarters of 2025, with significant year-on-year growth in revenue and net profit, driven by increased brokerage fees, investment income, and fair value changes of financial instruments [2][4]. Financial Performance - GF Securities reported a total revenue of 26.164 billion yuan, representing a year-on-year increase of 41.04% [2][3]. - The net profit attributable to shareholders reached 11.878 billion yuan, up 58.43% year-on-year, marking a historical high for the same period [2][3]. - The net income from brokerage fees and commissions was 13.636 billion yuan, a 38.09% increase, accounting for 52.12% of total revenue [4]. Business Segments - The brokerage business saw a significant increase in net income from fees, with a total of 6.979 billion yuan, reflecting a 74.97% year-on-year growth [4]. - Investment banking business fees decreased by 2.99% to 516 million yuan, indicating a relatively flat performance in this segment [4]. - Investment income amounted to 5.857 billion yuan, a 5.87% increase, contributing 22.38% to total revenue [4]. Asset and Equity Growth - As of September 30, 2025, total assets reached 953.44 billion yuan, a 25.66% increase from the end of 2024 [4]. - The company's equity attributable to shareholders increased by 4.00% [3]. Risk Management - The risk coverage ratio of the parent company decreased from 276.22% at the end of the previous year to 226.88%, still maintaining a high safety margin above regulatory requirements [4].