Asset size leads the industry, profit is second. Guotai Haitong's first consolidated annual report has hit the presses.

【Caixin】 The largest merger in the history of the domestic securities industry has released its first annual report since the merger. On the evening of March 27, Guotai Junan and Haitong Securities, which merged to form Guotai Haitong (601211.SH), published their 2025 annual report. The report shows that the company’s asset scale has surpassed that of CITIC Securities (600030.SH/06030.HK), which has long held the top position in the industry, but the profit level still shows a slight gap.

The financial report indicates that in 2025, Guotai Haitong achieved operating revenue of 63.107 billion yuan, a year-on-year increase of 87.4%; net profit attributable to shareholders of the parent company was 27.809 billion yuan, a year-on-year increase of 113.52%; and net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was 21.388 billion yuan, a year-on-year increase of 71.93%.