Western Securities' net profit in 2025 increased by 24.97% year-on-year

Securities Daily China Securities Network news (Lu Yi, Reporter Xu Wei) On April 2, Western Securities disclosed its 2025 performance report. The annual report shows that for the full year, the company achieved operating revenue of 5.985 billion yuan, down 10.84% year over year; and net profit attributable to shareholders of listed companies of 1.754 billion yuan, up 24.97% year over year. In the midst of the company’s proactive efforts to seek change and steady, upward development, the core growth engine continues to climb.

Judging by the structure of its principal businesses, in 2025, various business segments of the company showed differentiation in performance. The wealth and credit and proprietary investment segments played the roles of a stabilizer and ballast stone, while the investment banking business posted a standout growth rate.

In the wealth and credit business, the company’s wealth and credit segment adheres to the “investor-centered” approach, and follows a strategic path centered on the “research–investment–advisory (R-I-A)” system. It actively advances the development of ETF business and consolidates its business foundation. The wealth business leverages both online and offline channels, along with widely distributed business outlets. Over the full year, it opened more than 200,000 new accounts in total, up 72%. In 2025, the wealth and credit segment achieved operating revenue of 1.845 billion yuan, up 25.12%, fully leveraging the segment’s stabilizing role in the company’s performance.

From the perspective of proprietary investment business, Western Securities’ proprietary investment segment adheres to the transformation direction of “dual-wheel drive of investing and meeting clients’ needs.” It closely follows the main line of market trends, actively optimizes the logic of capital allocation, effectively improves the efficiency of comprehensive fund utilization, expands the scale of financial asset investments, and strengthens its ability for daily risk monitoring. In 2025, the proprietary investment segment achieved operating revenue of 1.882 billion yuan, continuing to play the role of a revenue ballast stone.

Regarding investment banking business, the company’s securities underwriting business firmly emphasizes a “functional” positioning, uses the “three-investment linkage” as a key lever, and effectively plays the critical role of a “service provider” for direct financing. It focuses on both wings running in parallel: “merger and acquisition restructuring” and “debt financing-driven traction.” For the full year, the investment banking segment achieved operating revenue of 390 million yuan, up 42.09%, becoming one of the fastest-growing business segments of the company.

In terms of asset management business, Western Securities’ asset management business is built around the core values of “customer-centered.” It adheres to the dual-wheel drive strategy of “investment asset management + investment banking asset management,” continuously strengthening capabilities in risk control and compliance management, and providing customers with a professional, differentiated, and diversified financial product and service system. During the reporting period, the company’s asset management business achieved operating revenue of 137 million yuan, with total assets under management reaching 36.420 billion yuan.