Guotai Haitong's Q1 profit soars nearly fivefold

Guotai Haitong Securities (SSE:601211) announced a substantial increase in its first-quarter financial results, largely attributed to the absorption of Haitong Securities. Net profit attributable to shareholders reached CNY 12.24 billion, a 391.78% increase compared to CNY 2.49 billion in the same period last year. Basic earnings per share also rose to CNY 1.16, reflecting a 346.15% increase. Operating revenue rose 47.48% to CNY 11.77 billion. The merger added significant value to the firm as negative goodwill, boosting overall financial performance. As of quarter-end, total assets stood at CNY 1.69 trillion and shareholders' equity was CNY 321.69 billion, representing significant increases of 61.58% and 88.37% respectively.