A leading player among the nation's top two brokerages, Guotai Haitong Securities Co., Ltd., has officially unveiled its interim report for the first half of 2026.

The figures show the company generated operating revenue of RMB 47.163 billion in the first six months of 2026, a substantial 97.56% surge compared to the same period last year. Net profit attributable to the parent company reached RMB 20.26 billion, up 28.74% year-on-year, setting a new record high for the period. The performance clearly indicates that the integration completed last year is rapidly unlocking synergies for the firm.

The company noted that the prior-year period included significant non-operating income from the absorption and merger of Haitong Securities. With that factor absent in the current reporting period, the growth rate of net profit after deducting non-recurring gains and losses is comparatively higher.

Investment Banking: Leading in STAR Market IPO Counts

In its investment banking division, Guotai Haitong Securities Co., Ltd. recorded operating revenue of RMB 2.273 billion for the period, marking a 61.15% increase year-on-year. Net fee income from investment banking hit RMB 2.224 billion, a 59.82% jump, primarily attributed to a recovering IPO market and increased equity underwriting revenue.

Specifically, the company acted as lead underwriter for 14 IPO projects during the period and had 57 projects under review at the end of the period, both ranking first in the industry. Since the launch of the STAR Market, it has cumulatively underwritten 110 STAR Market IPOs with total lead underwriting proceeds of RMB 220.1 billion, also securing the top industry position. The firm ranked second for bond underwriting with 1,878 bonds and RMB 643.8 billion in underwriting value. Its public REITs business led the sector with RMB 14.3 billion in issuance amount. In overseas operations, it completed 13 Hong Kong IPO sponsorship projects and 13 Hong Kong placement projects, maintaining the leading position among Chinese-funded brokerages in placement volume.

These achievements underscore the firm's formidable strength in investment banking.

Wealth Management: Core Foundation Remains Healthy

For its wealth management segment, Guotai Haitong Securities Co., Ltd. posted operating revenue of RMB 14.655 billion in the reporting period, a 49.97% rise year-on-year. This contributed 31.07% of total operating revenue, still ranking as the company's largest single business segment by revenue.

Net fee income from brokerage operations grew 73.41% to RMB 9.942 billion, driven by increased stock and fund trading volumes and an expanded agency securities trading business. In margin financing and securities lending, the balance reached RMB 296.111 billion at the end of the period, up 20.3% from the start of the year, with a market share of 9.80%, continuously widening its industry advantage. The business added 48,400 new margin trading customers during the period, a substantial 83.1% increase year-on-year. The repurchase balance for stock pledge and agreed repurchase businesses stood at RMB 37.122 billion at period end.

Institutional & Trading: The Standout Performer of H1

The institutional and trading segment emerged as the company's biggest revenue driver in the first half. The business generated RMB 22.176 billion in operating revenue, an exceptional 223.24% growth year-on-year, accounting for 47.02% of total operating revenue.

Financial statements reveal investment income at negative RMB 1.135 billion, a decrease of RMB 13.836 billion year-on-year, mainly due to reduced gains from derivative financial instruments. Conversely, gains from changes in fair value reached RMB 26.98 billion, an increase of RMB 29.986 billion, primarily attributed to changes in the fair value of trading financial assets.

Furthermore, the scale of the custody and fund services business reached RMB 54,549 billion at the end of the reporting period, up 20.8% from the end of last year, ranking first in the industry for public fund custody scale. The company also led the industry in the number of market-making targets on the STAR Market. In alternative investments, cumulative follow-on investments on the STAR Market approached RMB 7 billion, ranking first in the sector. During the period, it added 21 new or follow-on investments totaling RMB 1.085 billion, with 5 invested projects successfully completing IPOs.

Investment Management & Leasing: Asset Management Hits New Heights

In the investment management business, Guotai Haitong Securities Co., Ltd. saw operating revenue of RMB 4.9 billion during the period, up 59.20% year-on-year. Net fee income from asset management surged 43.91% to RMB 3.71 billion.

Among its public fund subsidiaries, HuaAn Fund reported total assets under management of RMB 915.703 billion at the end of the period. Fullgoal Fund's AUM surpassed RMB 2.2 trillion for the first time, with public fund scale reaching RMB 1.481205 trillion, a 9.5% increase from the end of the prior year.

Additionally, HFT Fund's bond ETF management scale reached RMB 171.8 billion, holding the top industry position for the fifth consecutive year.

The financing leasing business recorded operating revenue of RMB 2.101 billion, a slight 0.37% decline year-on-year. Its subsidiary Haitong Unitrust generated total revenue of RMB 2.772 billion and profit for the period of RMB 595 million.

Interim Dividend Plan: RMB 3 per 10 Shares

Regarding dividends, a proposal approved at the 19th meeting of the seventh board of directors outlines a plan to distribute a cash dividend of RMB 3.0 (pre-tax) for every 10 shares held by both A-share and H-share shareholders. This distribution is based on the total share capital on the record date, excluding shares held in the company's repurchase special securities account. Based on the 17.514 billion outstanding shares (after deducting repurchased shares) as of the board meeting date approving the plan, the total cash dividend would amount to RMB 5.254 billion (pre-tax), representing 25.93% of the net profit attributable to the parent company in the consolidated statements for the first half of 2026.