Guotai Haitong Releases 2025 Annual Report: Operating Performance Reaches Record High, Asset Scale Ranks First in the Industry

Log in to the Sina Finance APP and search for [Information Disclosure] to see more evaluation levels

On the evening of March 27, Guotai Junan released its annual report for 2025. In 2025, Guotai Junan achieved operating revenue of 63.107 billion yuan, a year-on-year increase of 87.4%; net profit attributable to shareholders was 27.809 billion yuan, a year-on-year increase of 113.52%; and net profit attributable to shareholders after deducting non-recurring gains and losses was 21.388 billion yuan, a year-on-year increase of 71.93%. By the end of 2025, the company’s total assets reached 2.114338 trillion yuan, a growth of 101.8% compared to the end of the previous year; net assets attributable to shareholders were 330.417 billion yuan, an increase of 93.48% compared to the end of the previous year, ranking first in the industry. The company is steadily promoting integration and fusion, actively serving national strategies, implementing the “Five Major Financial Articles,” and has initially achieved the effect of “1+1>2.”

Operating performance reaches historical new heights

In 2025, Guotai Junan fully implemented the deployment of capital market reforms, continuously enhancing comprehensive service capabilities for global investors, with all major business sectors delivering impressive results.

Wealth management business operating revenue reached 24.95 billion yuan, a year-on-year increase of 114.77%. The company had 39.33 million domestic clients, with 6,072 domestic investment advisors, and the Junhong APP and Tongcai APP had an average monthly active user count of 15.7 million, with a market share of 8.56% in stock-based trading, ranking first in the industry. The balance of margin financing and securities lending was 246.206 billion yuan, an increase of 43.9% compared to the end of the previous year, reaching a historical high.

Investment banking business operating revenue was 4.747 billion yuan, a year-on-year increase of 60.21%. In 2025, the company served as lead underwriter for 19 domestic IPOs, with 44 IPOs under review at the end of 2025, both ranking first in the industry; it completed 37 projects of Hong Kong stock placements, maintaining its leading position in the industry; the number of underwriting deals for offshore bonds was 431, with an underwriting amount of 5.333 billion USD, ranking first among Chinese securities firms.

Institutional and trading business operating revenue was 19.594 billion yuan, a year-on-year increase of 43.99%. The company’s public offering seat leasing market share ranked first in the industry, and its core customer research ranking reached a historical high. The scale of custody and fund services reached 45.172 trillion yuan, with both public fund custody scale and private securities investment fund custody number ranking first in the industry; in trading investment, the company ranked first in the STAR Market market-making, and Guotai Junan International’s trading volume in Hong Kong’s on-exchange derivatives ranked first among Chinese securities firms.

Investment management business operating revenue was 7.616 billion yuan, a year-on-year increase of 63.18%. The Huaxin Fund’s gold ETF scale maintained its industry-leading position; the bond ETF managed by HFT Investment remained at the industry’s top for five consecutive years; the asset management scale of the Fortune Fund first broke through 2 trillion yuan; and Guotai Junan’s asset management non-monetary public offering scale exceeded 72 billion yuan at the end of the year, an increase of nearly 50% compared to the end of the previous year.

Financing leasing business operating revenue was 5.491 billion yuan, accounting for 8.7% of operating revenue. HFT’s total assets were 107.756 billion yuan, with total revenue of 6.82 billion yuan, an average yield on interest-earning assets of 6.4%, and a weighted average return on net assets of 7.54%, maintaining robust profitability.

Practicing functional missions achieved new results

In 2025, Guotai Junan adhered to the “Finance for the Country” philosophy, continuously enhancing its capability to serve national strategies and the real economy, and improving the quality and effectiveness of services for economic and social development.

The company has solidly worked on the financial “Five Major Articles.” In terms of financial technology, it has cumulatively built a thematic fund matrix for technological innovation of nearly 70 billion yuan, with new investments in hard technology exceeding 6 billion yuan; it aided 36 technology enterprises in equity financing of 43.5 billion yuan, and the number and amount of bond underwriting in the technology sector ranked among the top three in the industry. In green finance, the cumulative transaction volume of carbon finance reached nearly 100 million tons, and the number and amount of green bond underwriting ranked second in the industry; the company maintained the highest MSCI ESG and WIND ESG ratings globally and within the industry, respectively. In inclusive finance, product retention scale and the retained scale of buyer asset allocation increased by 27% and 148%, respectively, compared to the end of the previous year; it held the first 818 Wealth Management Festival after the merger, creating an “AI + Inclusive” industry benchmark; the underwriting scale of small and micro enterprise bonds and rural revitalization bonds ranked among the top three in the industry. In pension finance, the combined pension business management scale of Fortune Fund and HFT Fund exceeded 800 billion yuan; 27 products were included in the “Personal Pension Fund Directory.” In digital finance, it initiated the establishment of Shanghai Guozhi Technology Co., Ltd., promoting the creation of a first-class new asset management service platform with Chinese characteristics; it advanced the development of “online, data-driven, and intelligent” initiatives, with 14 major platforms and 16 shared capability centers achieving positive results.

The company actively participates in the construction of Shanghai’s “Five Centers.” It served 130 Shanghai enterprises with stock and bond financing, with an underwriting scale exceeding 370 billion yuan; participated in creating an integrated product system of “stock, bond, loan, guarantee, and investment” for municipal financial enterprises, launching the “Guozhi Science and Innovation” product package 1.0 to provide comprehensive financial services across the entire business chain for technology enterprises; in collaboration with SPD Bank and China Pacific Insurance, it launched cross-border financial solutions and initiated the establishment of a “merger alliance,” jointly releasing the cross-border financial service plan G-FIRST 2.0 with Bank of China and China Pacific Insurance to support global supply chain layout; the transaction share of commodity futures and financial futures remained among the industry’s forefront, helping to enhance the influence of “Shanghai prices.”

Creating a new situation in first-class investment banking construction

In 2025, Guotai Junan achieved business integration steadily, effectively achieving unified management, successfully completing system transitions, and steadily realizing the integration and fusion of the parent company.

Based on the new starting point of building a world-class investment bank, the company has developed a new three-year strategic planning outline (2026-2028). The “new strategy” prioritizes functionality, solidly focusing on the financial “Five Major Articles,” actively participating in the construction of Shanghai’s “Five Centers,” with the long-term vision of “becoming a first-class investment bank with international competitiveness and market leadership” and the strategic goal of “leading domestically, excelling internationally,” deeply practicing a customer-centered business philosophy, accelerating the release of integration and fusion efficiency, and striving to promote business transformation towards “comprehensive, specialized, and platform-based”, steadily expanding international layouts, comprehensively building an industry-leading benchmark for high-quality development, striving to be at the forefront internationally in strategic capability, professional level, corporate governance, compliance risk control, talent team, industry culture, and becoming a leader in the comprehensive strength of the securities industry, a pioneer in innovative transformation, and a demonstrator of functional practice.

The company focuses on enhancing the overall effectiveness of corporate culture in terms of ideological leadership, spiritual cohesion, value appeal, and international influence. Through implementing cultural integration and renewal, it systematically constructs a corporate culture concept system of “Guotai Junan Consensus” that combines contemporary characteristics, international vision, industry traits, and corporate features, continuously promoting the upgrade of the cultural navigation strategy, facilitating integration and fusion through culture, and shaping brand value, constantly optimizing the organizational atmosphere, forging a team of strivers, and strengthening the spiritual foundation for a culturally strong company.

In the next stage, Guotai Junan will take the opportunity of promoting the new strategy and new culture to deepen integration and fusion, use the opportunity of optimizing collaborative linkage mechanisms to comprehensively enhance service capabilities, and take the opportunity of continuously deepening reforms to activate endogenous growth momentum, constantly creating a new situation in the construction of a first-class investment bank.

(This article does not constitute any investment advice; the content of information disclosure is subject to the company’s announcements. Investors act on this at their own risk.)

Written by: Haiming

Endless information and precise interpretation are available on the Sina Finance APP.