Huatai Securities expects steady profit growth in 2025, with a dividend of 5.5 yuan for every 10 shares.

Huatai Securities announced on March 30 that in 2025, the company achieved operating revenue of RMB 35.81 billion yuan, and net profit attributable to shareholders of the parent company was RMB 16.383 billion yuan. By the end of 2025, the Group’s total assets were RMB 1,077.348 billion yuan, up 32.31% year over year. The company has continued to place emphasis on shareholder returns. In 2025, total cash dividends (including cash dividends already distributed in the interim) amounted to RMB 4.965 billion yuan (inclusive of tax). During the current year, the company paid total cash dividends of RMB 5.50 per 10 shares (including an interim dividend of RMB 1.50). In 2025, the company adhered to serving the real economy and investors as its fundamental purpose, and continued to consolidate its industry-leading position, making solid steps forward in the process of building a first-class investment bank.

Huatai Securities CEO Zhou Yi said: “Every road worth taking again from the beginning will never be marked on the old map. Faced with the reshaping of technological change and the global restructuring of industrial division of labor, Huatai has firmly chosen to ‘start again’—from a higher vantage point to examine itself and seek breakthroughs. The company will always devote itself to forging, as core capabilities for crossing market cycles, deep industrial focus, a global perspective, and a technical foundation; to reconstitute the underlying business logic with AI thinking; to expand service boundaries with a globalized perspective; to release people’s creativity through cultural innovation; and to redefine the professional value of investment banking.”

**　　Serving the Real Economy as the Foundation Helps Optimize the Allocation of Residents’ Assets**

Currently, a new round of technological revolution and industrial transformation is accelerating its breakthroughs, and the innovative mainstay position of enterprises has become even more prominent. Huatai continuously improves a solid industrial research system, specialized value assessment and risk pricing capabilities. Guided by its investment banking business, it has deeply participated in the discovery and creation of corporate value, and has continued to play a key role in tapping enterprises’ innovation potential, matching the needs for investment and financing development, supporting industrial mergers and acquisitions and integration, and more. Over the years, it has cumulatively served more than 300 technology innovation enterprises, with a total market value of about RMB 13 trillion.

In 2025, the company successfully underwrote and sponsored 10 technology enterprises in the new quality productive forces sector for listing on the A-share market. The lead underwriting scale was RMB 170 billion yuan, helping industry leaders in sub-sectors such as semiconductors, wind power equipment, and precision manufacturing land on the capital market. In 2025, the domestic equity lead underwriting scale was approximately RMB 667 billion yuan. It sponsored 2 IPO projects among the top five on the A-share market; the number of approved M&A and restructuring projects and the number of projects registered by the China Securities Regulatory Commission both ranked first in the industry. The lead underwriting scale for bonds across all varieties was RMB 141.15 billion yuan. It cumulatively underwrote 290 technology innovation bonds, with a scale of about RMB 81.1 billion yuan, up 132%. In 2025, the company acted as financial advisor for 4 public REITs projects, with a scale of RMB 11.6 billion yuan; both ranked first in the industry. Huatai Asset Management’s cumulative issuance of corporate ABS over the years exceeded RMB 1 trillion.

With the transformation of the economy and population structure, together with the downshift of the interest-rate central tendency, the company meets the needs of diversified wealth management with different risk preferences, different sizes, and different tenors, in line with the requirements of the times. In 2025, the assets under management for equity funds, for non-money market funds, and for stock-index funds all remained at the top end of the securities industry. The fund investment advisory business had a scale of RMB 30.6 billion yuan, serving 10.1 million customers; FOF product scale exceeded RMB 50 billion yuan. Southern Fund’s pension finance management scale exceeded RMB 1 trillion, helping build the three-pillar pension system.

**　　AI Reshapes the Underlying Logic of Business; Digital Finance Drives a Leap in Service Capability**

As industrial transformation accelerates and information density grows manifold, AI-driven financial technology innovation is gaining momentum and is profoundly changing—and even reshaping—the ecosystem of financial markets. The changes brought by AI are not merely improvements to existing business and processes, but a fundamental transformation in how investment banking creates value. Based on this judgment, Huatai Securities actively identifies change, responds to change, and seeks change; it comprehensively advances the “All in AI” transformation strategy. It consolidates cognition and data dispersed across different business lines and teams in different regions into an intelligent foundation for continuous iteration, making data-driven industrial cognition the company’s most core competitive capability. This is how the company cultivates new strengths and injects new momentum into high-quality development in the industry.

In 2025, the company made multiple important progress in AI-driven business transformation. In October, it was the first to launch an AI-native application focused on trading scenarios, the “AI YueLe” APP. Leveraging as a trading tool directly facing customers, the product drives the full integration of back-end systems such as investment research and trading, trading, and risk control. At the same time, the company takes breakthroughs in industrial tracks such as new energy, intelligent driving, and innovative drugs, to build an AI-driven intelligent investment research and a full-company data capability foundation. The CAMS intelligent investment research platform, the global FICC trading and risk management platform, and the global market making and investment platform have all achieved AI capability embedding. The company’s independently developed global trading platform (GTP) has been fully launched and is operating. Multiple projects, including “Global Trading Platform” and “Research and Application Practice on Managing the Attack Surface of Network Security in the Securities Industry,” received Second Prize in the 2024 Financial Technology Development Awards.

**　　Integrating into the Global Value Chain; Internationalization Becomes an Important Growth Engine**

Against the backdrop of global asset rebalancing and China’s two-way opening of its capital markets, whether it is the global layout of Chinese enterprises or global investors’ demand for allocating Chinese assets, higher requirements are placed on the cross-border service capabilities of financial service institutions. Relying on its deep understanding of Chinese enterprises and Chinese assets, Huatai Securities continues to strengthen its cross-border integrated financial service system. Its overall strength in international business remains firmly among the top tier of China-based securities firms in Hong Kong.

In 2025, the company achieved key breakthroughs in multiple important markets: its Singapore subsidiary obtained capital market services licenses issued by the Monetary Authority of Singapore, and obtained registration certificates issued by the Securities and Exchange Board of India; Huatai Securities (U.S.) obtained membership as an IPO lead underwriter on the NYSE and qualification as a non-U.S. sovereign debt broker-dealer; its Japan subsidiary completed registration and establishment, and the global value chain system covering mature markets across Asia, Europe, and America as well as emerging markets was further improved.

While accelerating its globalized layout, the integrated operation of both domestic and overseas businesses continues to deepen. In terms of institutional customer service, the global trading platform has connected major financial centers such as Hong Kong, New York, London, and Singapore. Key businesses such as equity derivatives and FICC remain market-leading, and the HKD–dual-counter market-making provides full coverage of the underlying assets. The research business published 830 overseas research reports, cumulatively covering 420 overseas listed companies. In 2025, the company sponsored 22 HKEX IPO projects, ranking third in the whole market; participated in 8 HK IPOs among the top ten, helping industry leaders in areas such as biopharmaceuticals, intelligent manufacturing, and new-energy vehicles list on the Hong Kong market.

The company actively practices the concept of sustainable development. Its MSCI ESG rating has remained at the AAA level, the highest level, for two consecutive years, and it has comprehensively applied various financial instruments to support the green and low-carbon transition. In 2025, it served 9 enterprises related to new energy and energy conservation and environmental protection to complete equity financing. The scale of green equity underwriting was RMB 23 billion yuan. It underwrote 82 green bonds with a scale of RMB 22.4 billion yuan. It issued 9 green ABS products with a scale of RMB 8.2 billion yuan. It also actively participated in the national voluntary greenhouse gas emission reduction trading, with its trading volume ranking among the forefront of the industry.

Looking ahead, Huatai Securities will always keep serving the real economy and investors as its foundation. It will forge differentiated competitiveness through technological innovation, and serve the internationalization process of Chinese enterprises and Chinese assets with its globalized layout. It will speed up efforts to build a first-class investment bank, and contribute professional strength to the development of a strong financial country and the high-quality development of the capital markets.

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