Guotai Haitong Securities Co., Ltd. (the Group) disclosed a total asset impairment provision of RMB2,382.95 million from January to September 2025, representing over 10% of its audited net profit attributable to equity holders for 2024. According to the announcement, the Group recorded RMB2,334.2 million in credit loss expenses and RMB48.75 million in impairment losses on other assets during the period.

The impairment provision primarily involved long-term receivables, finance lease receivables, other debt investments, other loans and receivables, margin accounts receivable, and accounts receivable. Long-term and finance lease receivables incurred impairment provisions of RMB1,005.08 million and RMB449.96 million, respectively. Other major items included RMB460.77 million for other debt investments, RMB269.19 million for other loans and receivables, RMB48.72 million for margin accounts receivable, and RMB38.48 million for accounts receivable. Additional provisions were made for other assets based on assessed credit risks during the period, with a combined impact of RMB110.75 million in related categories.

These impairments reduced the Group’s profit before income tax by RMB2,382.95 million and net profit attributable to equity holders of the Company by RMB1,718.93 million. The Group’s Board of Directors and Audit Committee reviewed the impairment measures and approved them as consistent with the relevant accounting standards and the principle of prudence.

Shareholders and potential investors are advised to exercise caution when referencing these figures and trading in the Company’s securities. The announcement notes that professional advice should be sought if there is any uncertainty regarding related decisions.