Shenwan Hongyuan 2025 performance forecast: net profit upper limit exceeds 10 billion yuan

At the end of January, major securities firms have successively reported good news regarding their performance.

Shenwan Hongyuan recently released its performance forecast for 2025, expecting the net profit attributable to shareholders of the listed company to be between 9.1 billion and 10.1 billion yuan, a year-on-year increase of 74.64% to 93.83%.

From the forecast perspective, the performance rebound is not driven by a single business but is the result of the collaborative efforts of investment trading, wealth management, and investment banking, which also lays a clear tone for the upcoming annual report.

This significant performance improvement forecast provides a clear direction for the company's upcoming annual report and brings relatively optimistic expectations for investors.

Performance Forecast: Significant Increase in Net Profit Range

Shenwan Hongyuan announced that it expects the net profit attributable to shareholders of the listed company for 2025 to be between 9.1 billion and 10.1 billion yuan, a year-on-year increase of 74.64% to 93.83%.

Given that the comparable base is not low, this increase reflects a significant enhancement in the overall operational resilience of the company.

It is important to note that the above data is a preliminary estimate by the company, and the final financial data will be based on the audited 2025 annual report.

Operational Mainline: Core Business Synchronization Recovery

From the operational clues disclosed in the performance forecast, the improvement of Shenwan Hongyuan in 2025 is not a point rebound but a simultaneous recovery across multiple business lines.

The company has demonstrated strong development resilience in core areas such as investment trading, wealth management, and investment banking, with all business revenues achieving rapid year-on-year growth. Against the backdrop of increasing structural market opportunities, related businesses have provided relatively balanced support for overall profits.

This statement also implies that the performance rebound in 2025 does not overly rely on a single market trend but is more derived from the effectiveness of adjustments in business structure and operational mechanisms.

Investment Trading Side Seizing Market Volatility Opportunities

The announcement also emphasizes that institutional and mechanism reforms are important background factors for the improvement in operational performance in 2025. Focusing on business synergy and resource allocation efficiency, the company continues to promote internal reforms, strengthening the linkage between various business lines, and maintaining a relatively stable operational rhythm in a complex environment.

On this basis, the investment trading side seizes market volatility opportunities, the wealth management side adapts to changes in residents' asset allocation, and the investment banking business maintains resilience in serving the real economy, collectively driving a significant increase in annual performance.

Performance Profile is Relatively Clear

Based on the information disclosed in the performance forecast, the operational mainline of Shenwan Hongyuan for 2025 is relatively clear. The substantial upward revision of the profit range, combined with the description of "multiple points blooming" in core businesses, sets a relatively positive tone for the annual performance.

As the disclosure of the formal annual report approaches, the specific contribution structure, sustainability, and changes on the cost side of each business segment still await more detailed data for further verification.

Progress of Subsidiary Bond Issuance

In addition to the performance forecast, Shenwan Hongyuan has recently disclosed progress related to the bond issuance of its subsidiaries.

According to the approval from the China Securities Regulatory Commission, Shenwan Hongyuan Securities Co., Ltd. has been authorized to publicly issue short-term corporate bonds with a face value balance not exceeding 30 billion yuan to professional investors. On January 21, 2026, Shenwan Hongyuan Securities completed the first phase of the public issuance of short-term corporate bonds for professional investors in 2026, with an issuance scale of 5 billion yuan Among them, Variety One has an issuance scale of 2 billion yuan, a term of 273 days, and a coupon rate of 1.69%; Variety Two has an issuance scale of 3 billion yuan, a term of 365 days, and a coupon rate of 1.71%. After the registration of this bond issue is completed, it is planned to be listed and traded on the Shenzhen Stock Exchange