Guolian Minsheng Securities reported a 25.57% year-on-year rise in net profit attributable to shareholders to RMB 1.42 billion for the six months ended 30 June 2026, fuelled by a 55.34% surge in brokerage and wealth-management revenue to RMB 2.45 billion.

Revenue, net investment gains and other income climbed 15.18% to RMB 6.12 billion. Asset-management and investment income advanced 56.24% to RMB 467 million, while credit-transaction revenue rose 24.22% to RMB 598 million. Proprietary-trading revenue fell 23.14% to RMB 1.68 billion, and investment-banking revenue dropped 26.24% to RMB 429 million.

Total assets expanded 21.04% to RMB 245.98 billion; total liabilities increased 28.45% to RMB 193.12 billion, lifting the gearing ratio to 72.15% from 67.54%. Equity attributable to shareholders stood largely flat at RMB 52.48 billion. Operating cash flow swung to an outflow of RMB 5.88 billion from an inflow of RMB 47.78 million a year earlier.

Key risk-control metrics remained comfortably above regulatory minima: net capital rose 3.9% year-to-date to RMB 19.16 billion, risk-coverage ratio was 261.30%, and liquidity-coverage ratio was 137.09%.

Segment highlights: • Brokerage & wealth management: client assets grew 12.32% to RMB 964 billion; wealth clients reached 3.69 million, up 4.03%. • Investment banking: completed five equity mandates (three IPOs, two refinancings) with RMB 3.59 billion underwriting amount; bond underwriting totalled RMB 28.35 billion across 140 issues. • Futures brokerage: average daily client equity rose 64% year-on-year to RMB 8.66 billion. • Private-equity business: committed capital reached RMB 24.85 billion across 64 funds.

Post-period developments include: • Issue of RMB 3.80 billion subordinated bonds in July and August 2026 at coupons ranging 1.79%–1.82%. • Board approval on 10 August 2026 for an A-share buyback of RMB 100 million–RMB 200 million within three months. • Plan to transfer wealth-management assets to subsidiary Minsheng Securities and reduce its capital by RMB 10 billion, pending regulatory consent. • Provision of a dynamic net-capital guarantee up to RMB 4 billion to Minsheng Securities.

The company maintained its interim dividend policy, declaring RMB 0.60 per 10 shares (RMB 340.84 million in total), payable after shareholder approval.