Guotai Junan plans share repurchase amid strong Q1 earnings

Guotai Junan Securities is considering a share repurchase program following a forecast of strong first-quarter financial results. Chairman Zhu Jian proposed the repurchase of the company's A-shares to bolster investor confidence and enhance the company's overall value. The company anticipates net profits attributable to shareholders to increase by 350%-400%, reaching between CNY 11.201 billion and CNY 12.445 billion. Excluding non-recurring gains and losses, the estimated net profit is between CNY 2.973 billion and CNY 3.383 billion, representing a 45%-65% increase year-over-year. The repurchase plan involves using company funds to buy back shares via centralized bidding through the Shanghai Stock Exchange trading system, with a total repurchase amount ranging from CNY 1 billion to CNY 2 billion. The repurchase price will not exceed 150% of the average share price in the 30 trading days preceding the board's review. The repurchase program is slated to last three months from the date the board approves the plan. The proposed repurchase follows the completion of the merger with Haitong Securities, with the consolidation finalized on March 14, 2025.