GF Securities Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Interest and Dividend Income	20,628	20,381	17,278	13,459	20,476	18,845
Total Interest Expense	9,831	10,226	10,411	8,754	8,728	7,444
Net Interest Income	10,797	10,155	6,868	4,705	11,748	11,401
Brokerage Commission	15,002	15,002	14,814	16,670	-	-
Gain on Sale of Investments (Rev)	3,324	-	-	-	407.38	665.92
Other Revenue	4,623	828.46	400.66	1,124	20,910	15,929
Revenue Before Loan Losses	33,746	25,986	22,083	22,499	33,066	27,996
Provision for Loan Losses	-32.35	-32.35	-41.15	-188.92	356.9	388.31
Revenue	33,779	26,018	22,124	22,688	32,709	27,608
Revenue Growth (YoY)	48.25%	17.60%	-2.49%	-30.64%	18.48%	25.95%
Salaries & Employee Benefits	9,580	9,580	8,773	8,880	-	-
Cost of Services Provided	2,283	614.15	549.46	534.7	15,961	12,744
Other Operating Expenses	3,847	3,772	3,708	3,172	2,280	1,926
Total Operating Expenses	16,605	15,013	14,025	13,458	18,219	14,763
Operating Income	17,174	11,005	8,099	9,230	14,490	12,845
Currency Exchange Gains	8.66	-	-	-	4.27	34.6
Other Non-Operating Income (Expenses)	-662.9	-	-	-	1,114	-30.79
EBT Excluding Unusual Items	17,305	11,791	8,814	10,170	15,608	12,848
Asset Writedown	0.36	-4.57	-3.63	-12.02	-	-
Gain (Loss) on Sale of Investments	57.13	57.13	-71.66	234.22	-645.61	-371.86
Other Unusual Items	485.3	-	-	-	-	1,088
Pretax Income	17,864	11,852	8,744	10,388	14,964	13,599
Income Tax Expense	2,939	1,307	881.52	1,490	2,909	2,828
Earnings From Continuing Ops.	14,925	10,545	7,863	8,898	12,055	10,771
Minority Interest in Earnings	-1,119	-907.84	-885.12	-968.72	-1,201	-732.76
Net Income	13,807	9,637	6,978	7,929	10,854	10,038
Preferred Dividends & Other Adjustments	907.78	907.78	685.88	198.58	12.66	-
Net Income to Common	12,899	8,729	6,292	7,731	10,841	10,038
Net Income Growth	74.06%	38.11%	-12.00%	-26.95%	8.13%	33.15%
Shares Outstanding (Basic)	7,384	7,606	7,606	7,612	7,621	7,621
Shares Outstanding (Diluted)	7,384	7,606	7,606	7,612	7,621	7,621
Shares Change (YoY)	-4.38%	-	-0.08%	-0.12%	-	-
EPS (Basic)	1.75	1.15	0.83	1.02	1.42	1.32
EPS (Diluted)	1.75	1.15	0.83	1.02	1.42	1.32
EPS Growth	86.16%	38.73%	-18.54%	-28.48%	7.81%	33.15%
Free Cash Flow	-64,152	-31,202	-3,294	39,446	-27,994	16,784
Free Cash Flow Per Share	-8.69	-4.10	-0.43	5.18	-3.67	2.20
Dividend Per Share	0.500	0.500	0.300	0.350	0.500	0.450
Dividend Growth	25.00%	66.67%	-14.29%	-30.00%	11.11%	-18.18%
Operating Margin	50.84%	42.30%	36.61%	40.68%	44.30%	46.52%
Profit Margin	38.19%	33.55%	28.44%	34.07%	33.15%	36.36%
Free Cash Flow Margin	-189.92%	-119.92%	-14.89%	173.86%	-85.59%	60.80%
Effective Tax Rate	16.45%	11.03%	10.08%	14.34%	19.44%	20.80%
Revenue as Reported	44,960	37,346	33,298	33,256	34,250	29,153

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.