CSC Financial Co., Ltd. (CSC) reported a robust start to 2026, with unaudited first-quarter results showing sharp top- and bottom-line expansion driven by stronger fee-based businesses, a rebound in trading income and a jump in net interest earnings.

Revenue and Profitability • Operating revenue reached RMB 7.70 billion, up 62.26% year on year (1Q25: RMB 4.74 billion). • Profit before tax rose 121.76% to RMB 4.66 billion. • Net profit attributable to equity holders nearly doubled to RMB 3.67 billion, lifting basic and diluted EPS to RMB 0.44 (1Q25: RMB 0.20). • Return on weighted average equity improved to 4.02%, up 1.98 percentage points.

Revenue Drivers • Net fee and commission income advanced 38.47% to RMB 3.60 billion, buoyed by brokerage (RMB 2.38 billion, +37%) and investment-banking fees (RMB 0.61 billion, +71%). • Net interest income surged 6.8-fold to RMB 0.36 billion on higher interest earnings. • Fair-value gains swung to a positive RMB 1.41 billion from a RMB 0.03 billion loss a year earlier, reflecting stronger performance of derivative portfolios. • Government subsidies contributed RMB 0.06 billion to other income.

Cost and Impairment Trends • Operating and administrative expenses rose 25.2% to RMB 3.04 billion, in line with wider business scale. • Credit impairment swung to a RMB 0.05 billion reversal versus a RMB 0.18 billion charge in 1Q25, supporting earnings.

Cash Flow and Balance-Sheet Expansion • Net cash from operating activities increased 48.21% to RMB 31.02 billion, primarily on higher client payables. • Total assets grew 15.19% from end-2025 to RMB 779.61 billion; equity attributable to shareholders expanded 6.48% to RMB 126.82 billion. • Key asset changes: other equity investments +37% to RMB 71.75 billion; financial assets held for trading +13.9% to RMB 212.70 billion; derivative assets +33.2% to RMB 3.04 billion.

Capital Adequacy and Liquidity • Net capital stood at RMB 78.11 billion with a net capital-to-net assets ratio of 65.84% (end-2025: 71.15%). • Risk coverage ratio remained solid at 205.55%, while the liquidity coverage ratio strengthened to 308.90%. All metrics comply with China Securities Regulatory Commission requirements.

Shareholder Structure As at 31 March 2026, CSC had 138,577 ordinary shareholders. Beijing Financial Holdings Group Limited and Central Huijin Investment Ltd. remained the two largest shareholders, holding 35.81% and 30.76% stakes respectively.

Outlook Management did not provide guidance in the announcement. The first-quarter performance highlights the positive impact of fee diversification, improved trading results and stronger funding capabilities on CSC’s earnings trajectory.