17 Listed Securities Firms' Mid-Year Net Profit Growth Average 94.55%; CITIC, Guotai Haitong Exceed 20 Billion

Statistics show that the average lower limit of the growth rate of net profit attributable to parent companies for the aforementioned securities firms reached 94.55%. Both CITIC Securities and Guotai Haitong forecast net profit attributable to parent exceeding 20 billion yuan for the first half of the year. Several non-listed securities firms also delivered impressive results. Xiangcai Securities reported unaudited operating revenue of 1.386 billion yuan for the first half, up 75% year-on-year, and net profit of 583 million yuan, up 184%. Minmetals Securities reported unaudited revenue of 475 million yuan, down 6% year-on-year, but net profit increased 29% to 163 million yuan. Zhongshan Securities reported unaudited operating revenue of 318 million yuan, up 38%, and net profit of 286 million yuan, turning profitable from a loss. Kaiyuan Securities disclosed that its investment banking equity business revenue grew 66.66% year-on-year in the first half, while brokerage business revenue and profit both increased over 40%. Mei Lin, chairman of Huayuan Securities, said the company's operating performance in the first half rose sharply, hitting a record high and exceeding phased business targets. Since July, more than ten securities firms have held intensive mid-year work meetings to set tasks for the second half. Many firms proposed ensuring completion of full-year targets, strengthening rigid performance constraints, and going all out to achieve better results. An Jie, the newly appointed chairman of Lianchu Securities, made it clear that the company will pursue performance-oriented targets for the full year and disclosed plans to fully advance capital increase and share expansion. Wealth management has been listed as a key focus for the second half by many small and medium-sized securities firms. Wanlian Securities' wealth management business line proposed strengthening incremental channels and business breakthroughs, capturing new accounts, revitalizing existing clients, and building corporate and institutional growth engines. It also aims to solidify branch offices, optimize business departments, and strengthen front-line teams. Hualong Securities' mid-year work meeting proposed coordinating online and offline channels, building a full-coverage customer acquisition grid, and improving full-lifecycle customer management. Many securities firms highlighted business synergy. Digitalization and research business are also key areas. Zhang Hongtao, chairman of Huaan Securities, said the company should strengthen forward-looking understanding, investment, and deployment of artificial intelligence, making technology truly grow into the business, transforming from an external attachment to a core. He also emphasized implementing the industry deepening implementation opinions. Regional deepening is another main line in the mid-year meetings. Caida Securities aims to deeply integrate into the coordinated development of the Beijing-Tianjin-Hebei region, pursue a differentiated high-quality development path, and become the best understanding of Hebei securities firm. Debon Securities plans to rely on the Shandong business coordination center in the second half to deepen the Shandong market, clarify development direction, and refine specialized tracks. Industrial Securities proposed deepening the Fujian market, expanding the ecosystem, and strengthening resource integration. Kaiyuan Securities made it clear that it will integrate into the provincial overall situation, highlight the quality and efficiency of serving Shaanxi and Shaanxi Coal, including timely responding to financing and asset revitalization needs, and doing a good job in carbon financial services. It will deepen research on the upstream and downstream industries of the group's main business, expand research coverage of listed companies in the industrial chain, enhance the ability to serve Shaanxi's science and technology innovation investment around new productive forces, increase investment in hard technology, and fully complete the filing and establishment of Kaiyuan Aerospace Investment Fund and Kaiyuan Aerospace Materials Fund.