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On March 27, 2026, Dongfang Securities released its 2025 annual report, revealing an operating income of 15.358 billion yuan, a year-on-year increase of 26.18%, and a net profit attributable to the parent company of 5.634 billion yuan, a year-on-year increase of 68.16%, setting a new high in nearly a decade. The company emphasizes cash dividend returns to investors, with an annual total dividend amount of 2.7 billion yuan, setting a historical high for the company.

A week ago, Dongfang Securities held a shareholders’ meeting, and Comrade Zhou Lei officially took office as the chairman of the company. The arrival of new leadership at a time of high growth in performance marks that Dongfang Securities will further strengthen strategic leadership and steady operations, enhancing the company’s reform and transformation development momentum, making the new stage of company development worth looking forward to.

Strong operating performance with balanced efforts across three main businesses

In 2025, Dongfang Securities achieved good operating performance mainly through strategic guidance, scientific layout, seizing market opportunities, and adhering to differentiated and specialized development, with a focus on ROE. The three major business systems of “Wealth Management,” “Investment Banking,” and “Institutional Business” are continuously making progress.

In the “Wealth Management” business, the wealth management sector focuses on customer group management, achieving good growth in key indicators such as account numbers, asset scales, and margin trading. A new dual-driven model of “Securities Investment Advisory + Trading” and “Fund Investment Advisory + Products” has been established. By the end of 2025, the company’s fund advisory business reached nearly 17.2 billion yuan, ranking among the top in the industry. Dongzheng Asset Management’s entrusted asset management scale totaled 286.792 billion yuan, an annual growth of 32.43%; Huatai-PineBridge Fund’s public fund size, excluding money market funds, exceeded 680 billion yuan, with an annual growth of about 37%. Dongzheng Futures, empowered by research and digitalization, ranks among the top three in the industry for trading volume market share and client equity scale.

The “Investment Banking” business has increased regional development, enhanced cross-border integration, and deeply cultivated “hard technology” target assets with core technologies. According to Wind statistics, during the reporting period, the company completed 15 A-share equity financing projects, ranking 7th in the industry, with a total underwriting amount of 11.048 billion yuan, ranking 11th in the industry; the total bond underwriting scale ranked 8th in the industry. The company’s underwriting of book-entry interest-bearing treasury bonds, CDB, and Agricultural Development Bank financial bonds ranks first among securities firms.

In the “Institutional Business” sector, proprietary investments focus on enhancing revenue stability, optimizing diversified strategies in the stock sector with high dividends and trading types, while strengthening trading capabilities and client demand in the FICC sector; a multi-level research framework combining “Think Tank Research + Securities Research + Wealth Research” has been established.

Additionally, the company focuses on enhancing digital capabilities, gradually implementing a new generation of core business systems, the OST rapid trading system, and the Super Investment Management Platform Dongfang SIP, among a series of representative cases, empowering and promoting the company’s development.

The company emphasizes investor returns

The company pays attention to cash dividend returns to investors. The profit distribution plan for 2025 is to distribute a cash dividend of 2.00 yuan per 10 shares (tax included), with a total proposed cash dividend amount of 1.687 billion yuan. Along with the cash dividend of 1.012 billion yuan already distributed in the 2025 interim dividend, the total cash dividend for 2025 amounts to 2.699 billion yuan, accounting for 47.91% of the net profit attributable to the parent company’s owners in 2025.

Furthermore, to maintain the stability of the capital market, company value, and shareholder rights, the company initiated its second share repurchase program in April 2025. In August 2025, the company completed this repurchase, with a repurchase amount of 250 million yuan, repurchasing 26,703,157 shares of the company’s A-shares.

Striving to build a first-class modern investment bank

At the end of the year, Dongfang Securities completed a change in major leadership. Zhou Lei, the former deputy general manager of Shanghai International Group, took office as the deputy general manager of Sheneng Group and the party committee secretary and chairman of Dongfang Securities.

Chairman Zhou Lei has rich experience in finance and investment management. At the shareholders’ meeting held on March 20, he stated that after 28 years of development, Dongfang Securities has established strong comprehensive strength and a solid development foundation. The company will adhere to the philosophy of long-term development and steady operation, persist in differentiated and specialized development, deepen reforms and improve quality and efficiency, focus on the three key business areas of “Wealth Management, Investment Banking, and Institutional Business,” and use “group integration, digitization, and internationalization” as strategic drivers, strengthen compliance and risk management, and strive to build a first-class modern investment bank, paving the way for high-quality development with distinctive characteristics of Dongfang Securities, contributing greater strength to the financial powerhouse and the construction of Shanghai’s “Five Centers.”

(This article does not constitute any investment advice; the information disclosure content is subject to the company’s announcements. Investors are responsible for their own risks based on this operation.)

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