Hengtai Securities reported a compelling QQ1 2025 with substantial year-over-year top-line momentum and pronounced operating leverage. Revenue reached CNY 730.93 million, up 51.9% from QQ1 2024, underpinned by broad participation across its brokerage, investment banking, and asset management businesses. The company posted an operating income of CNY 426.64 million, yielding an operating margin of approximately 58.4%, while net income climbed to CNY 120.37 million, representing a 346.9% year-over-year increase and a net margin of about 16.5%. The weighted average shares outstanding stood at roughly 2.605 billion, with basic and diluted EPS of CNY 0.0462.