GUOTAI JUNAN INTERNATIONAL HOLDINGS LIMITED (01788) has announced its final results for the year ended December 31, 2025. The company reported revenue of HKD 6.23 billion, representing an increase of 40.9% year-on-year. Profit attributable to ordinary shareholders was HKD 1.345 billion, a significant surge of 286.84% compared to the previous year. Earnings per share were 14.1 HK cents, and the board has recommended a final dividend of HKD 0.02 per share.
During the year, the investment banking business achieved its best-ever performance, with substantial growth in both revenue and scale, maintaining a leading position in the industry rankings. The Wealth Management 2.0 strategy was successfully implemented, highlighting the advantages of its comprehensive product and service capabilities. The scale of both on-exchange and over-the-counter (OTC) products experienced explosive growth, becoming a major source of commission income. Services for high-net-worth clients and inclusive finance saw significant simultaneous improvement.
In 2025, the Group comprehensively advanced the implementation of its Wealth Management 2.0 strategy, adhering to a development direction focused on "customer needs as the core, customized services as the feature, and digital capabilities as the support," completing a comprehensive upgrade of its "platform + product" offerings. By utilizing technologies such as big data and fintech to precisely analyze the asset allocation needs of different clients, the Group provided personalized allocation advice. It matched clients with products across a full range of categories, including stocks, bonds, funds, and financial products, perfecting a full lifecycle service loop for customers. Particularly for professional investors and family office clients, the Group precisely connected products to their core needs, such as global allocation, risk hedging, stable appreciation, and wealth inheritance. Throughout the year, OTC product transactions grew rapidly, becoming a primary source of commission income. Specifically, commissions from structured notes and OTC options both surged by over 100% year-on-year. Product transaction volume increased by more than 50% compared to 2024, and the number of participating clients grew by approximately 50%, establishing this segment as a core pillar and important growth driver for the high-quality development of the Group's wealth management business.
Concurrently, the Group actively promoted technology-driven finance and inclusive finance. It completed a digital and intelligent upgrade of its trading platform using artificial intelligence and big data. The active user base of its "JUNHONG Global Connect" application grew substantially, driving a continuous increase in client assets under custody.
In 2025, the Group's asset management business achieved growth in both scale and revenue. Assets under management increased by 49% year-on-year, while revenue jumped by 1.2 times. The annualized return rate for its Investment-Grade Bond Fund Class I reached 8.96%, ranking among the top performers for Chinese-funded peers. The annualized return rate for its US Dollar Money Market Fund Class A2 also reached approximately 4.38%, steadily placing it in the top tier among similar products.
In 2025, the Group participated in 294 overseas bond issuance projects, with a total issuance size of approximately HKD 522.1 billion, a year-on-year increase of 34%. Among these, the Group acted as a lead underwriter for 140 projects, accounting for about 52% of the total issuance amount. According to data from China Securities Credit Co., Ltd.'s (DMI) bond platform, the Group ranked third among Chinese securities firms for primary underwriting scale of offshore bonds and second for lead underwriting scale of Chinese offshore bonds. The Group's client base covers a wide range of bond issuers, including large state-owned enterprises, financial institutions, and local governments, with its business strength maintaining an industry-leading position.
Building on its traditional business, the Group forged ahead ambitiously. In September 2025, as the sole global coordinator, it successfully assisted the National Bank of Mongolia in issuing a USD 200 million, 3-year bond. This marked the Group's first participation in an overseas bond financing project for an issuer outside the Greater China region.
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