Revenue by Segment

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 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	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Wealth Management	16.18B	13.33B	11.64B	12.12B	-
Wealth Management Growth	21.42%	14.52%	-3.98%	-	-
Investment Banking	686.81M	582.87M	531.95M	625.81M	575.55M
Investment Banking Growth	17.83%	9.57%	-15.00%	8.73%	-27.81%
Institutional Business	1.79B	328.37M	415.22M	658.39M	-
Institutional Business Growth	445.38%	-20.92%	-36.93%	-	-
International	3.20B	2.95B	2.80B	2.59B	1.93B
International Growth	8.78%	5.24%	8.01%	34.13%	19.42%
Investment Trading	8.65B	7.94B	5.98B	3.87B	-
Investment Trading Growth	9.01%	32.73%	54.49%	-	-
Other Parent Subsidiary Integration Business	2.76B	2.49B	17.21B	18.08B	-
Other Parent Subsidiary Integration Business Growth	10.69%	-85.52%	-4.83%	-	-
Others	-3.38B	-2.91B	-3.02B	-2.92B	1.40B
Others Growth	-	-	-	-	262.12%
Eliminations	-634.53M	-861.61M	-876.93M	-378.61M	-1.61B
Securities Brokerage	-	-	-	-	12.51B
Securities Brokerage Growth	-	-	-	-	16.40%
Futures Brokerage	-	-	-	-	15.12B
Futures Brokerage Growth	-	-	-	-	109.14%
Proprietary Trading and Other Securities Trading Services	-	-	-	-	5.04B
Proprietary Trading and Other Securities Trading Services Growth	-	-	-	-	82.53%
Asset Management	-	-	-	-	506.83M
Asset Management Growth	-	-	-	-	-16.15%
Private Equity and Alternative Investments	-	-	-	-	512.59M
Private Equity and Alternative Investments Growth	-	-	-	-	23.19%
Total	29.27B	23.84B	34.68B	34.65B	35.98B
Total Growth	22.76%	-31.25%	0.06%	-3.69%	51.52%

Revenue by Geography

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 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	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Mainland China	26.70B	21.76B	32.75B	32.44B	35.67B
Mainland China Growth	22.71%	-33.58%	0.96%	-9.04%	55.46%
Hong Kong and other overseas	3.20B	2.95B	2.80B	2.59B	1.93B
Hong Kong and other overseas Growth	8.78%	5.24%	8.01%	34.13%	19.42%
Eliminations	-634.53M	-861.61M	-876.93M	-378.61M	-1.61B
Total	29.27B	23.84B	34.68B	34.65B	35.98B
Total Growth	22.76%	-31.25%	0.06%	-3.69%	51.52%

Source: S&P Global Market Intelligence.