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    Financial - Capital Markets
Western Securities Co., Ltd.

Western Securities Co., Ltd.

002673.SZ
Western Securities Co., Ltd.CN flagShenzhen Stock Exchange
6.53
CNY
-0.01
- -
29.19BMarket Cap
Western Securities Co., Ltd.
002673.SZ
(Shenzhen Stock Exchange)

Recent

price

6.53

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.68
0.45
0.29
0.42
1.42
1.8
1.22
0.97
0.64
1.06
1.48
1.51
1.19
1.54
1.5
1.34
1.38
Revenue per Share
0.24
0.1
0.04
0.1
0.48
0.63
0.4
0.23
0.06
0.17
0.32
0.32
0.1
0.26
0.31
0.39
0.34
Basic EPS, GAAP
-1.12
-1.17
-0.31
-0.55
2.73
-0.07
-1.9
-1.43
0.89
0.83
-0.36
-3.11
-1.11
- -
2.66
0.46
1.68
Free Cash Flow per Basic Share
0.15
- -
0.2
0.03
0.07
0.13
0.42
0.24
0.15
0.1
0.11
0.14
0.21
0.17
0.25
0.25
0.24
Dividend per Share
0.85
0.9
0.67
0.71
1.68
1.4
1.64
1.66
1.51
1.51
1.95
1.65
1.61
1.73
1.83
2.01
1.94
Book Value per Share
1.36
1.36
1.63
1.66
3.83
3.84
4.41
5.35
4.93
5.01
7.41
6.05
6.03
6.24
6.44
6.83
6.56
Tangible Book Value per Share
2,276
2,322
2,720
2,737
1,381
3,134
2,795
3,266
3,504
3,503
3,502
4,469
4,471
4,470
4,469
4,463
4,464
Basic Weighted Avg Shares
1,559
1,054
800
1,154
1,954
5,641
3,401
3,170
2,242
3,697
5,180
6,743
5,306
6,885
6,708
5,983
6,168
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
41
45
44
42
41
46
55
61
72
74
69
182
217
220
236
265
- -
Depreciation Expense
537
223
119
275
664
1,973
1,125
752
200
610
1,117
1,410
431
1,166
1,403
1,754
1,535
Net Income, GAAP
24.53
27.57
28.33
27.23
25.83
25.66
24.25
23.3
17.61
17.53
24.93
24.02
21.39
21.8
18.03
20.01
19.02
Effective Tax Rate (%)
34.46
21.17
14.87
23.83
33.97
34.97
33.07
23.73
8.94
16.5
21.56
20.91
8.11
16.93
20.92
29.31
24.88
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
- -
222
5,224
10,392
11,782
6,304
4,548
3,802
9,111
18,682
25,263
23,169
23,999
30,098
25,434
LT Debt
3,124
3,178
4,456
4,646
5,413
12,194
12,476
17,657
17,430
17,737
26,108
27,209
27,165
28,123
29,015
32,026
29,505
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
27.99
11.11
6.07
14.62
31.18
58.72
25.08
15.05
3.74
11.52
18.4
19.82
5.91
15.61
17.6
20.44
18.45
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4,470
4,470
4,470
Market Capitalization
36,429
34,819
35,176

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
39,710
36,999
36,981
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.27%
4.23%
10.38%
Free Cash Flow
6,367.24%
12,331.63%
-82.6%
Net Income, GAAP
31.09%
34.57%
24.97%
Sales/Revenue/Turnover
5.45%
5.05%
-10.81%
Total Cash Common Dividend
25.26%
28.64%
-0.36%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,595
1,734
1,102
2,277
6,708
2025
1,216
1,573
1,649
- -
5,983
2026
1,425
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
- -
- -
- -
0.31
2025
0.07
- -
- -
- -
0.39
2026
0.06
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
- -
- -
- -
0.25
2025
0.06
- -
- -
- -
0.25
2026
0.02
- -
- -
- -
- -
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Business
Western Securities Co., Ltd. is a China-based securities company primarily engaged in securities brokerage, securities investment consulting, financial advisory services related to securities trading and investment, securities underwriting and sponsorship, proprietary trading, asset management, margin financing and securities lending, securities investment fund agency, financial product sales agency, stock option market making, and intermediary services for futures companies. The company offers a comprehensive range of financial services that include brokerage of shares, warrants, bonds, and funds; investment banking activities such as underwriting and issuance of equity and debt securities; asset management services encompassing entrusted and private asset management and fund management; and research and consulting services. Founded in 2001 and headquartered in Xi'an, Shaanxi Province, Western Securities operates exclusively within China. Recent major changes include the company's active participation in strategic financial market interventions, expanding investment banking services, and continuous enhancement of its asset management and proprietary trading capabilities. Additionally, Western Securities announced an interim cash dividend on A shares for 2025, reflecting its stable financial performance and shareholder returns. The company has also been adjusting its business operations to address intensified competition in the brokerage sector through service diversification and strengthening its research and consulting arm. It maintains a workforce of approximately 3,268 employees as part of its ongoing commitment to expanding its market presence and financial product offerings across China. Western Securities targets institutional investors, corporate clients, and individual investors within the domestic capital markets. Its focus spans multiple segments including fintech, investment banking, asset management, and diversified financial services. The firm’s comprehensive product lineup and recent strategic initiatives position it as a notable player in the Chinese financial services industry. It remains listed on the Shenzhen Stock Exchange under ticker 002673.SZ. This description reflects the company’s current product portfolio, operational footprint, key recent developments, and market positioning in the financial services sector in China.