Zheshang Securities Co., Ltd., a subsidiary of Zhejiang Expressway Co., Ltd. (abbreviated as ZHEJIANGEXPRESS), released unaudited preliminary figures for 2025, indicating robust top- and bottom-line growth amid an improving domestic capital market environment.

Full-year operating revenue reached 8.84 billion RMB, a 35.95% year-on-year increase. Net profit grew 41.64% to 2.84 billion RMB, while operating profit expanded 42.31% to 3.46 billion RMB. Net profit attributable to shareholders came in at 2.41 billion RMB, up 24.87%.

Earnings per share improved to RMB0.53, with diluted EPS up 15.22% to the same level. Weighted average return on equity slipped 0.09 percentage point to 6.67%.

By income mix, net fee and commission income rose 23.91% to 4.47 billion RMB, net interest income climbed 30.74% to 1.29 billion RMB, and investment-related gains (investment income plus fair-value changes) surged 65.91% to 3.01 billion RMB.

Total assets expanded 45.90% year on year to 224.81 billion RMB, while total liabilities increased 50.97% to 177.48 billion RMB. Equity attributable to shareholders edged up 4.54% to 36.79 billion RMB, translating into a net asset value per share of RMB8.11 (-9.89% year on year).

Management cited stronger market activity and proactive business development as key drivers of performance. The company also implemented a new accounting policy for standard warehouse receipt transactions effective 1 January 2025, retrospectively adjusting 2024 figures without affecting previously reported totals.

The disclosed data are preliminary and subject to audit; final results will appear in the 2025 annual report. Investors are advised to note potential differences between preliminary and audited figures.