On April 10, INDUSTRIAL SECURITIES held its 2025 annual performance briefing. President Liu Zhihui, Vice President and CFO Zheng Chengmei, and Board Secretary Lin Duo, along with other core management personnel, attended and engaged in in-depth discussions with investors on key hot topics of high market interest.
Notably, among the many questions from investors, the management chose to elaborate on the Wealth Management Business, mutual fund business, and dividend distribution, highlighting the importance of wealth management and mutual funds as the company's two &#34;trump cards.&#34;
Wealth management is advancing deeply toward &#34;buy-side advisory,&#34; driving new account openings up by nearly 100% year-on-year, with total customer assets exceeding 3.5 trillion yuan; Xing Quan Fund's total scale has broken the 800 billion yuan mark for the first time, and it has obtained approval for its Singapore subsidiary, opening a new chapter for international expansion.
<h2>Wealth Management Actively Transforming</h2>
President Liu Zhihui stated at the performance briefing that in 2025, under the leadership of the new Party committee, the company took high-quality development as its main theme, adhering to the principles of intensification, specialization, and marketization. With the vision of &#34;building a first-class securities financial group with warmth,&#34; the company consolidated strong vitality, momentum, and cohesion.
Total assets reached 345 billion yuan and net assets reached 66.7 billion yuan by year-end, achieving dual growth compared to the previous year; operating performance steadily improved, with full-year operating income reaching 11.841 billion yuan and net profit reaching 3.714 billion yuan, increasing by 21.03% and 28.21% year-on-year, respectively. The return on equity (ROE) improved by 1.12 percentage points year-on-year.
He specifically mentioned that the company's wealth management transformation has taken a solid step forward, launching the &#34;Zhiji Wealth Management&#34; brand and firmly promoting the transition to buy-side advisory; introducing three major service systems: &#34;Zhiji Xiangtou,&#34; &#34;Zhiji Youtou,&#34; and &#34;Zhiji Zhitou.&#34; The group serves nearly 32 million clients, an increase of nearly 3 million.
Simultaneously, the custody and outsourcing business achieved a historical daily average scale of 534 billion yuan, with comprehensive strength ranking among the top ten in the industry. Total managed customer assets exceeded 3.5 trillion yuan, an increase of over 20%. New customer openings throughout the year exceeded 1.3 million, a year-on-year increase of nearly 100%, setting a new record for customer scale.
Xing Quan Fund issued the market's first CSI 300 Quality ETF. At the end of the period, its total managed scale exceeded 800 billion yuan, a historical high; Industrial Securities Asset Management continued to deepen its &#34;fixed income +&#34; strategy, with green finance product scale reaching a historical high. At the end of the period, entrusted asset management funds totaled 127.2 billion yuan, an increase of 26% from the end of the previous year.
<h2>New Account Market Share Reaches Historical High</h2>
Regarding the progress of the Wealth Management Business, President Liu Zhihui further stated that the company adheres to a customer-centric philosophy and is firmly promoting the buy-side advisory transformation, continuously improving service quality.
Using &#34;Zhiji Xiangtou&#34; as a lever, the innovative &#34;9+4+N&#34; diversified asset allocation framework provides investors with comprehensive and multi-level asset allocation solutions. Guided by &#34;Zhiji Youtou,&#34; and positioning around &#34;headquarters advises, branches consult,&#34; professional capabilities are precisely extended downwards, enhancing the efficiency of advisory services. Driven by &#34;Zhiji Zhitou,&#34; and aiming to &#34;make every transaction smarter,&#34; the company deepens quantitative investment research and strategic tools, building an intelligent trading full-process service system covering pre-transaction, mid-transaction, and post-transaction stages. The company's digital and intelligent service capabilities are continuously improving, and intensive service efficiency is fully released. New account market share, customer scale, and monthly active users of the INDUSTRIAL SECURITIES APP (Youlibao) have all reached historical highs.
Concurrently, in the financial product sales business, the company focuses on diversified allocation, continuously enriching product supply, and upgrading the buy-side advisory service system. To meet customers' personalized needs, the company strengthens product customization capabilities to satisfy diverse wealth allocation requirements.
<h2>Breakthroughs in Mutual Fund Business Innovation</h2>
Regarding the development and future plans of the company's mutual fund business, Board Secretary Lin Duo stated that in 2025, the mutual fund industry achieved a virtuous cycle of scale expansion and high-quality development under the dual impact of deepening policy reforms and evolving market environments.
As of the end of 2025, the weighted average returns of Xing Quan Fund's active equity funds and active fixed-income funds over the past three years ranked first among large-cap equity companies and second among mid-cap fixed-income companies, respectively. Business innovation achieved new breakthroughs, successfully issuing the industry's first CSI 300 Quality ETF. Substantial progress has been made in building the on-exchange business ecosystem, completing the issuance of the industry's first cross-market SH-HK-SZ 300 Index Enhanced Fund and the first batch of new floating-rate funds.
Furthermore, the fund investment advisory strategy received the 2025 Golden Bull Fund Investment Advisory Innovation Case award. The company is actively making strides in pension finance, with its pension fund Y-share retention scale ranking among the top three in the industry. Cross-border investment research capabilities continue to deepen, with the Singapore subsidiary officially approved in 2025 and QDII quota expanded. As of the end of 2025, Xing Quan Fund's total managed scale exceeded 800 billion yuan, of which mutual fund scale reached 749.057 billion yuan, an increase of 15% from the end of the previous year.
Future, Xing Quan Fund will consolidate its competitiveness around the main theme of high-quality development, cultivating new growth drivers and improving systematic capabilities from a long-term perspective. By deepening the technology service system of &#34;digital drive, intelligent empowerment,&#34; strengthening talent mechanisms and compliance risk control, cultivating a culture of &#34;responsibility,&#34; and deeply cultivating the pension finance ecosystem, it will leverage its overseas subsidiary to promote &#34;internal and external synergy&#34; and enhance internationalization.
<h2>Annual Dividends Near 1.3 Billion</h2>
Board Secretary Lin Duo also stated that in 2025, the company actively responded to the new &#34;Nine Articles&#34; and the &#34;Guiding Principles for the Supervision of Listed Companies No. 10 - Market Value Management&#34; requirements, completing the formulation and revision of the &#34;INDUSTRIAL SECURITIES Co., Ltd. Market Value Management System&#34; based on the company's actual situation. The company has comprehensively optimized its market value management system, striving to enhance the company's investment value and increase investor returns, achieving good results.
Specifically, to promote the company's high-quality development and enhance investment value, the company actively responded to the Shanghai Stock Exchange's &#34;Special Action Guide for Listed Companies to Improve Quality, Increase Efficiency, and Return Value,&#34; formulated the company's &#34;2025 Action Plan for Improving Quality, Increasing Efficiency, and Returning Value,&#34; which was disclosed after deliberation by the company's board of directors. Guided by the &#34;Action Plan,&#34; the company actively implements the related work outlined in the plan;
Second, the company continues to implement semi-annual dividends, striving to strengthen shareholder returns. In August 2025, the company implemented the 2024 cash dividend, amounting to 864 million yuan. In December 2025, the company implemented its interim dividend for 2025, amounting to 432 million yuan. The total cash dividends distributed throughout the year amounted to nearly 1.3 billion yuan;
Third, the company has further refined and standardized investor relations management, continuing to enrich communication channels with various investors and establishing multi-level investor interaction and communication mechanisms. Throughout the year, comprehensive measures were taken, including holding performance briefings and shareholder meetings, participating in brokerage investment strategy conferences, attending the Fujian area listed companies' investor collective reception day events, conducting offline and online research and exchanges, answering investor relations hotline calls, and interacting via email and online platforms. This enhanced communication with investors and proactive responses to investor concerns, promoting the improvement of investor relations management quality and efficiency;
Fourth, the company's operating performance has steadily improved, and operational quality and efficiency continue to trend positively. Full-year operating income reached 11.841 billion yuan, and net profit attributable to the parent company reached 2.870 billion yuan, year-on-year increases of 21.03% and 32.64%, respectively. The return on equity (ROE) improved by 1.12 percentage points year-on-year.
Regarding the company's annual dividend plan, President Liu Zhihui introduced that the company has already implemented its interim dividend for 2025, distributing a cash dividend of 0.5 yuan (tax inclusive) per 10 shares, totaling nearly 432 million yuan (tax inclusive). The proposed profit distribution plan for the full year 2025 is to distribute a cash dividend of 1 yuan (tax inclusive) per 10 shares based on the share capital on the company's dividend registration date. Based on the company's share capital at the end of 2025, the total cash dividend distribution will exceed 860 million yuan (tax inclusive). This proposal is subject to approval by the shareholders' meeting, and distribution will be arranged after approval.
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INDUSTRIAL SECURITIES held its 2025 annual performance briefing on April 10, where core management engaged in deep communication with investors. The company's Wealth Management Business and mutual fund business were emphasized, with new wealth management accounts increasing by nearly 100% year-on-year and total customer assets exceeding 3.5 trillion yuan. In 2025, the company focused on high-quality development as its main theme, ending the year with total assets of 345 billion yuan, net assets of 66.7 billion yuan, operating income of 11.841 billion yuan, and net profit of 3.714 billion yuan, all achieving dual growth. Xing Quan Fund's total management scale exceeded 800 billion yuan, and it launched multiple innovative wealth management services

INDUSTRIAL SECURITIES Performance Briefing Record: What's Next?