随着股票市场交投活跃度的上升以及股权承销规模的修复等，立足大湾区、服务全国的广发证券综合竞争力 与行业影响力正在持续提升。 机构业务大增近8成 今年以来，大盘持续转好，主要指数上涨推动了证券行业的业绩实现大幅增长。 作为行业的头部选手，广发证券向市场抛出了一份亮眼的成绩单。 2025年上半年，广发证券的收入、归母净利润分别达到153.98亿元、64.7亿元，分别同比增长了34.38%、 48.31%。 同期广发证券的收入位居第四名，同比提升了1个位次。 具体来看，广发证券的财富管理、交易及机构和投资管理三大业务收入同比增幅均超过2位数。 大盘回暖为证券行业注入了强大的增长动力。 2025年上半年上证指数、深证成指、创业板指、科创50指数分别上涨2.76%、0.48%、0.53%、1.46%。同期交 易活跃度更是狂飙，全市场日均股基交易额达到1.57万亿元，同比增长了超6成。 受益于市场的转好，广发证券旗下的财富管理、交易及机构、投资管理和投资银行四大业务板块持续发力， 呈现稳定发展的态势。 具体来看，交易及机构业务增长较为显著，2025年上半年创收49.69亿元，同比增长了78.46%，同期营业利润 率达到8 ...

Core Viewpoint - Guotai Junan Securities Co., Ltd. reported significant growth in its financial performance for the first half of 2025, driven by a successful merger with Haitong Securities and a recovery in the securities market, leading to increased revenues and profits across various business segments [1][2][3]. Company Overview - Guotai Junan is a leading comprehensive financial service provider in China's securities industry, with a strong capital scale, profitability, and risk management capabilities [5]. - The company has established a diverse service system catering to retail, institutional, and corporate clients, including wealth management, investment banking, institutional trading, investment management, and financing leasing [6][7]. Financial Performance - Total assets reached approximately CNY 1.80 trillion, a 72.24% increase compared to the previous year [3]. - Operating revenue for the first half of 2025 was CNY 23.87 billion, representing a 77.71% year-on-year increase [3][26]. - Net profit attributable to shareholders was CNY 15.73 billion, up 213.74% year-on-year, with a net profit margin of 16.69% [3][6]. Business Segments - Wealth management generated CNY 9.77 billion in revenue, a 40.94% increase [7]. - Investment banking revenue was CNY 1.41 billion, with a growth rate of 5.91% [7]. - Institutional trading revenue reached CNY 6.86 billion, reflecting a 28.74% increase [7]. - Investment management and financing leasing also showed positive growth, contributing CNY 3.08 billion and CNY 2.11 billion, respectively [7]. Market Position and Strategy - The company has maintained a leading position in the market, with a focus on enhancing service capabilities and expanding its client base [5][8]. - The merger with Haitong Securities has strengthened its market presence and operational efficiency, allowing for better resource allocation and service integration [8][24]. - The company is actively pursuing digital transformation and innovation in financial services, aiming to improve customer experience and operational efficiency [23]. Regulatory and Compliance - Guotai Junan has consistently adhered to regulatory requirements and has been recognized for its compliance and risk management practices, maintaining a high credit rating in the industry [24].