Huaxing Capital Holdings (01911) announced interim results with profit attributable to company owners of RMB 64.984 million, turning a year-on-year loss into profit

According to the Zhitong Finance App, Huaxing Capital Holdings (01911) announced its 2025 interim results, with total revenue of about 425 million yuan, an increase of 29.25% over the previous year; total revenue and net investment income were 460 million yuan, an increase of 27% over the previous year. The company's owner's profit for the period was 64.984 million yuan, turning a year-on-year loss into a profit.

In the first half of 2025, the investment management business contributed 52% of the Group's total revenue. Actively promoting the orderly execution of projects remains the focus of the current investment management business. The total withdrawal amount from fund projects managed by the Group during this period was RMB 1.3 billion. As the project continued to exit, the Group's return on fund investment (DPI) increased further. Up to now, 5 of the 11 main funds, as well as several project funds, have exceeded 100% DPI and have begun to generate collateral benefits. The ancillary benefits continued to be included in the statements this year, continuing to support the Group's performance. During the reporting period, the Group's total ancillary equity included in the statements was RMB 150 million, and the net ancillary equity was RMB 60 million, which exceeded the amount of ancillary equity revenue for the whole of last year. As of the end of the reporting period, the total unrealized collateral equity was RMB 1.9 billion (corresponding net ancillary equity was RMB 500 million), which is also expected to provide continued support for future asset management business revenue and the Group's performance. In the first half of 2025, fund investment projects Circle, Weigaojing, Zugangwang, and Yaojie Ankang were successfully listed one after another. At the same time, a number of investee companies are also in the process of filing IPOs. “Circle”, the world's first stablecoin stock, is one of the largest and most widely used stablecoin network operators in current circulation in the world. As of June 30, 2025, its stock price has increased nearly fivefold from the issue price. Huaxing New Economy Fund invested in Circle in 2018. This fully demonstrates the team's forward-looking investment and optimism about the development prospects of the digital asset industry. It also proves the Group's ongoing in-depth research capabilities and forward-looking strategic investment vision and layout.

In the first half of 2025, the total revenue and net investment income of Huaxing Securities Co., Ltd. was RMB 130 million, an increase of 25% over the previous year. Strategic key businesses have maintained a good growth trend. The Huaxing Securities Duoduojin App continues to empower business development and deeply integrates intelligent tools into all investment links to meet the multi-level investment needs of customers. As of the end of June 2025, the cumulative number of registered users and cumulative number of accounts opened on the Huaxing Securities Duojin App increased by 26% and 35%, respectively, compared to the end of 2024. Retail brokerage revenue increased 110% year-on-year in the first half of 2025. In terms of investment banking business, Huaxing Securities focuses on the field of hard technology, creating comprehensive services for the entire chain from private equity financing to IPOs. Private equity financing projects such as Kunlun Core and Magnesium Power were completed during the reporting period. While expanding its business and increasing revenue, Huaxing Securities continued to reduce costs and increase efficiency. Operating losses in the first half of 2025 narrowed by 60% year-on-year. At the end of the period, Huaxing Securities had total assets of RMB 3.4 billion, net assets of RMB 2.4 billion, and highly liquid assets such as cash, deposits, cash financial management, and listed corporate bonds totaled RMB 2.8 billion.