国泰海通三季报“交卷”：扣非净利润大增80%，总资产突破2万亿元

Core Viewpoint - Guotai Junan has achieved record highs in total assets, operating income, net profit attributable to shareholders, and net profit after deducting non-recurring gains and losses for the first three quarters of the year, indicating a significant improvement in profitability [1][2]. Financial Performance - In Q3, Guotai Junan reported operating income of 22.02 billion yuan, a year-on-year increase of 136.0%, and a net profit after deducting non-recurring gains and losses of 9.02 billion yuan, up 102% year-on-year and 126% compared to Q2 [2]. - For the first three quarters, the company achieved operating income of 45.89 billion yuan, a year-on-year growth of 101.6%, and a net profit attributable to shareholders of 22.07 billion yuan, up 131.8% year-on-year [2]. - The net profit after deducting non-recurring gains and losses reached 16.30 billion yuan, reflecting an 80.5% year-on-year increase, with a weighted average return on net assets of 5.95%, up 0.31 percentage points year-on-year [2]. Asset and Capital Position - As of the end of Q3, the company's total assets exceeded 2 trillion yuan, representing a 91.7% increase from the end of the previous year [2]. - The net capital of the parent company stood at 186.74 billion yuan, and the net assets attributable to shareholders reached 324.14 billion yuan, both maintaining the industry-leading position [2]. Business Integration and Strategy - Following the completion of the merger and restructuring, Guotai Junan is actively planning new strategies and cultures while continuing to integrate business, management, and system platforms [3]. - The company has completed the inheritance of business qualifications and limits, migrated major trading investment assets, and accelerated the unification of customer services [3]. - Management integration includes the implementation of integrated compliance and risk control operations, updating over 600 regulations, and further strengthening financial asset-liability management [3]. New Business Developments - The leasing business initiated by the subsidiary Haitong Hengxin has become a new business segment for Guotai Junan post-merger [4]. - The leasing business has developed steadily with controllable asset quality, generating stable profits while managing risks and ensuring asset quality [4]. - The company has made regular provisions for asset impairment losses amounting to 2.38 billion yuan for the first nine months of 2025, primarily due to the new leasing business and accounting standards for non-similar control mergers [3][4].