Western Securities' borrowings exceed 40% of prior year net assets

Western Securities (SZSE:002673) disclosed that its cumulative new borrowings for the period of January to April 2025 have exceeded 40% of the company's net assets as of December 31, 2024. The company's audited net assets stood at CNY 290.15 billion at the end of 2024, with total borrowings of CNY 369.98 billion. By April 30, 2025, total borrowings had increased to CNY 515.58 billion, reflecting a cumulative increase of CNY 145.6 billion. This increase is attributed to increased interbank lending, repurchase of financial assets, and proceeds from certificates of deposit. Western Securities affirmed that the new borrowings comply with relevant regulations and do not pose any adverse impact on the company’s operations or solvency, as all debts are currently serviced on time.