Zheshang Securities(SH:601878) Xin Lang Cai Jing·2026-01-19 01:39Core Viewpoint - Zhejiang Securities experienced a decline in stock price and trading volume, with a net financing outflow on January 16, indicating a low level of investor confidence and activity in the stock [1]. Financing and Margin Trading - On January 16, Zhejiang Securities had a financing buy-in amount of 52.76 million yuan and a financing repayment of 72.86 million yuan, resulting in a net financing outflow of 20.10 million yuan [1]. - The total margin trading balance for Zhejiang Securities as of January 16 was 2.718 billion yuan, with the financing balance accounting for 5.45% of the circulating market value, which is below the 50th percentile level over the past year, indicating a low position [1]. - In terms of securities lending, there were no shares repaid on January 16, with 900 shares sold short, amounting to 9,819 yuan at the closing price, and a remaining short position of 65,300 shares valued at 712,400 yuan, also below the 20th percentile level over the past year [1]. Financial Performance - For the period from January to September 2025, Zhejiang Securities reported operating revenue of 6.789 billion yuan, a year-on-year decrease of 42.94%, while net profit attributable to shareholders increased by 49.57% to 1.892 billion yuan [2]. - Cumulatively, since its A-share listing, Zhejiang Securities has distributed a total of 3.748 billion yuan in dividends, with 1.718 billion yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders for Zhejiang Securities was 157,500, a decrease of 5.78% from the previous period, while the average circulating shares per person increased by 6.13% to 29,047 shares [2]. - Among the top ten circulating shareholders, the Guotai CSI All-Index Securities Company ETF ranked as the third-largest shareholder with 70.8914 million shares, an increase of 28.5418 million shares from the previous period [3].