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
Enterprise Finance - Investment Banking	1.63B	1.45B	2.01B	2.29B	2.20B
Enterprise Finance - Investment Banking Growth	12.69%	-27.73%	-12.57%	4.41%	47.16%
Personal Finance	11.39B	9.47B	8.72B	6.86B	9.66B
Personal Finance Growth	20.25%	8.67%	27.07%	-28.98%	7.25%
Institutional Services and Trading	10.90B	7.52B	9.55B	9.09B	19.57B
Institutional Services and Trading Growth	44.90%	-21.27%	5.13%	-53.56%	20.78%
Investment Management	1.25B	1.06B	1.14B	1.54B	1.48B
Investment Management Growth	18.78%	-7.47%	-26.11%	4.37%	-23.51%
Enterprise Finance - Principal Investment	669.99M	412.02M	802.42M	822.63M	1.40B
Enterprise Finance - Principal Investment Growth	62.61%	-48.65%	-2.46%	-41.30%	81.53%
Total	25.85B	19.91B	22.22B	20.61B	34.31B
Total Growth	29.81%	-10.39%	7.82%	-39.93%	16.66%

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	25.69B	19.69B	21.83B	-	-
Mainland China Growth	30.48%	-9.83%	-	-	-
Northwestern China	-	-	-	1.12B	1.33B
Northwestern China Growth	-	-	-	-16.31%	-2.14%
East China	-	-	-	4.22B	5.12B
East China Growth	-	-	-	-17.57%	7.07%
Other China	-	-	-	9.25B	15.99B
Other China Growth	-	-	-	-42.16%	16.06%
Offset	-	-	-	-947.66M	-789.59M
South Central China	-	-	-	1.02B	1.15B
South Central China Growth	-	-	-	-11.18%	6.52%
Northern China	-	-	-	379.48M	413.68M
Northern China Growth	-	-	-	-8.27%	5.16%
Southwest China	-	-	-	563.94M	631.11M
Southwest China Growth	-	-	-	-10.64%	8.06%
Northeast China	-	-	-	299.39M	339.10M
Northeast China Growth	-	-	-	-11.71%	-2.76%
Overseas	-	-	-	214.89M	459.62M
Overseas Growth	-	-	-	-53.25%	-14.99%
Headquarters	-	-	-	4.50B	9.66B
Headquarters Growth	-	-	-	-53.47%	40.54%
Total	25.69B	19.69B	21.83B	20.61B	34.31B
Total Growth	30.48%	-9.83%	5.94%	-39.93%	16.66%

Source: S&P Global Market Intelligence.