A Powerful Start: Guotai Haitong Doubles Down on Growth After Merger
The newly merged brokerage posted sharp gains in revenue and profit, expanded its balance sheet, and claimed top industry rankings across several key businesses.
Guotai Haitong, formed from the merger of Guotai Junan Securities and Haitong Securities, reported strong 2025 results. Revenue reached RMB 63.1 billion, up 87.4% year on year. Net profit rose 113.5% to RMB 27.8 billion, showing rapid post-merger growth.
Total assets doubled to RMB 2,114.3 billion, while net assets rose 93.4% to RMB 330.4 billion, both ranking first in the industry. Core segments grew strongly, led by wealth management, institutional trading, investment banking, and asset management.
The firm ranked first in multiple domestic and offshore business areas, including IPO underwriting and Hong Kong transactions. It completed integration and launched a 2026–2028 strategy, aiming to strengthen synergies and build a leading investment bank.
On the evening of March 27, Guotai Haitong—formed through the merger of Guotai Junan Securities and Haitong Securities—released its first annual results report.
The report shows that in 2025, Guotai Haitong achieved operating revenue of RMB 63.1 billion ($9.2B), representing a year‑on‑year increase of 87.4%. Net profit attributable to shareholders reached RMB 27.8 billion ($4B), up 113.5% year‑on‑year, while net profit attributable to shareholders excluding non‑recurring items was RMB 21.3 billion ($3.1B), marking a 71.93% increase year‑on‑year.
As of the end of 2025, Guotai Haitong’s total assets stood at RMB 2,114.3 billion ($308.1B), an increase of 101.8% compared with the end of the previous year. Net assets attributable to shareholders amounted to RMB 330.4 billion ($48.1B), up 93.4% year‑on‑year—both ranking first in the industry. The company has advanced its integration in an orderly manner, initially achieving the “1+1 > 2” synergy effect.
In terms of Guotai Haitong’s core business segments, revenue from wealth management amounted to RMB 24.9 billion ($3.6B), representing a year‑on‑year increase of 114.7%. Investment banking revenue reached RMB 4.7 billion ($691M), up 60.2% year‑on‑year. Revenue from institutional sales and trading totaled RMB 19.5 billion ($2.8B), marking a 43.9% increase year‑on‑year. Asset management revenue was RMB 7.6 billion ($1.1B), up 63.1% year‑on‑year. Revenue from the financial leasing segment amounted to RMB 5.4 billion ($800M), accounting for 8.7% of total operating revenue.
Guotai Haitong ranked first in the industry in several areas, including the number of domestic clients, market share of equities and funds trading, number of domestic IPOs underwritten in 2025, market share of public fund seat leasing revenue, and assets under management of the HuaAn Fund Gold ETF.
The company also ranked first among Chinese securities firms in the number of Hong Kong equity placement transactions completed, the number of offshore bond underwriting transactions for Chinese issuers, and the trading volume of Hong Kong‑listed derivatives handled by Guotai Junan International.
In 2025, Guotai Haitong successfully completed the closing of its merger and restructuring transaction, carrying out the integration of the parent company in a stable and efficient manner. The company also completed the legal entity transition and internal client migration. In addition, it formulated a new three‑year strategic plan outline (2026–2028) and systematically established the “Guotai Haitong Consensus” corporate culture framework, incorporating contemporary relevance, an international perspective, industry characteristics, and distinctive corporate features.
Looking ahead, Guotai Haitong will adhere to a client‑centric philosophy, accelerate the release of integration synergies, and continuously strengthen its core capabilities. It will strive to advance the development of a first‑class investment bank through strong operating performance, sound corporate governance, and stable shareholder returns.
