In the complex and volatile capital market environment of the third quarter of 2026, securities firms generally faced pressure on their performance. As a leading brokerage, China Galaxy delivered a relatively resilient third-quarter report.

Although its single-quarter performance was disturbed by market conditions, from the full perspective of the first three quarters, China Galaxy held its profit base steady, with net profit rising slightly against the trend.

It also achieved a historic leap in asset scale, with total assets officially breaking through the one trillion mark. This financial report fully demonstrates the "anti-fragility" of leading brokerages in a headwind environment.

Total assets break one trillion

The most notable figure in the financial report is the scale of assets. As of September 30, 2026, China Galaxy Securities Co., Ltd. (ASX: 601881) had total assets of 1.01 trillion yuan, a sharp increase of 18.57% from the end of the previous year. This not only marks that China Galaxy has officially joined the "trillion-yuan brokerage club," but also confirms the head effect of siphoning in the securities industry during its reshuffling period.

Data show that the company's monetary funds reached 252.742 billion yuan, a sharp increase of 36.78% from the end of the previous year. Among this, customer fund deposits rose from 166.464 billion yuan at the end of the previous year to 214.837 billion yuan.

In the generally volatile market environment, nearly 50 billion yuan in newly added customer funds chose to stay with Galaxy Securities, not only providing the company with abundant low-cost liabilities, but also meaning that once market conditions reverse, it may unleash enormous potential business momentum.

Net profit edges up against the trend in the first three quarters

Affected by single-quarter market fluctuations in the third quarter, the company's third-quarter operating revenue (5.715 billion yuan) and net profit attributable to shareholders (3.228 billion yuan) declined year on year. But over a longer horizon, China Galaxy's overall performance in the first three quarters was still growing.

The quarterly report shows that from January to September 2026, the company achieved operating revenue of 22.565 billion yuan, a slight year-on-year decrease of 0.81%, almost flat with the same period last year; it achieved net profit attributable to shareholders of the listed company of 11.025 billion yuan, an increase of 0.52% against the trend; and non-recurring net profit attributable to shareholders reached 11.014 billion yuan.

Traditional advantageous businesses play a role

Breaking down the income statement, it can be found that Galaxy's traditional advantageous businesses are showing stronger "combat power."

In the first three quarters, net fee income from brokerage business reached 8.049 billion yuan, up more than 27% from 6.305 billion yuan in the same period last year.

Against the backdrop of a generally cold investment banking industry, its net fee income from investment banking business rose against the trend to 544 million yuan (475 million yuan in the same period last year).

In terms of net interest income, relying on its huge customer base and margin trading scale, net interest income in the first three quarters reached 4.067 billion yuan, an increase of nearly 27% from 3.207 billion yuan in the same period last year.

The strong growth of these "three carriages" effectively offset the decline in investment income caused by market fluctuations and stabilized the profit base.