1. People's Republic of China Stocks

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    Investment - Banking & Investment Services
China Great Wall Securities Co., Ltd. Class A

China Great Wall Securities Co., Ltd. Class A

002939.SZ
China Great Wall Securities Co., Ltd. Class ACN flagShenzhen Stock Exchange
8.12
CNY
-0.04
- -
32.76BMarket Cap
China Great Wall Securities Co., Ltd. Class A
002939.SZ
(Shenzhen Stock Exchange)

Recent

price

8.12

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
0.83
0.65
0.45
0.66
1.09
2.17
1.18
0.98
0.92
1.18
2.04
2.26
0.69
0.83
0.85
1.08
0.8
Revenue per Share
0.22
0.11
0.07
0.19
0.35
0.86
0.35
0.32
0.21
0.32
0.48
0.57
0.26
0.36
0.39
0.58
0.44
Basic EPS, GAAP
-0.47
-2.48
-0.26
0.14
2.71
0.53
-1.21
-2.23
-1.52
-0.92
-1.55
-0.42
-1.98
-1.21
3.25
1.83
0.94
Free Cash Flow per Basic Share
0.33
0.15
0.05
0.01
0.02
0.06
0.38
0.18
0.12
0.33
0.31
0.37
0.41
0.32
0.41
0.39
0.24
Dividend per Share
1.28
1.25
1.1
1.3
1.55
2.03
1.58
1.71
1.89
1.72
1.93
2.27
2.36
2.2
2.3
2.55
2.66
Book Value per Share
3.14
3.16
2.75
3.02
3.52
6.32
4.98
5.18
5.95
5.57
5.88
6.46
8.09
7.24
7.49
7.95
7.98
Tangible Book Value per Share
2,029
1,973
2,180
2,058
2,059
2,193
2,781
2,781
2,789
3,101
3,128
3,098
3,458
3,996
4,051
4,054
4,139
Basic Weighted Avg Shares
1,678
1,280
984
1,357
2,250
4,767
3,285
2,735
2,566
3,653
6,392
6,992
2,371
3,310
3,446
4,389
3,317
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
37
42
48
46
46
75
64
52
56
61
67
197
196
182
199
197
- -
Depreciation Expense
446
217
153
391
721
1,886
973
890
586
992
1,502
1,766
899
1,438
1,580
2,352
1,821
Net Income, GAAP
20.5
12.45
11.98
17.16
21.62
24.66
15.91
16.7
13.59
15.6
16.21
14.88
- -
7.37
11.29
13.65
13.86
Effective Tax Rate (%)
26.6
16.96
15.51
28.82
32.03
39.57
29.63
32.54
22.83
27.16
23.49
25.25
37.92
43.45
45.84
53.58
54.9
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
100
320
1,923
5,360
3,315
6,750
9,779
14,960
23,528
31,763
30,571
38,489
39,254
42,082
43,949
LT Debt
6,402
6,277
6,032
6,251
7,291
13,908
13,915
14,471
16,683
17,352
18,495
20,113
28,081
29,069
30,490
32,368
33,120
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
16.02
8.56
6.27
15.42
24.53
49.31
22.02
19.49
11.71
18.72
26.37
26.97
11.83
16.98
17.46
23.92
17.42
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
4,034
4,034
Market Capitalization
46,848
41,159
36,791

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
- -
72,545
79,528
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
9.29%
12.59%
6.16%
Free Cash Flow
-39.56%
-19.4%
-43.61%
Net Income, GAAP
11.68%
17.44%
48.86%
Sales/Revenue/Turnover
7.77%
2.88%
27.36%
Total Cash Common Dividend
88.27%
11.76%
-5.32%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
773
914
734
1,026
3,446
2025
1,124
1,406
- -
841
4,389
2026
1,070
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
- -
- -
- -
0.39
2025
0.15
- -
- -
- -
0.58
2026
0.15
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
- -
- -
- -
0.41
2025
0.06
- -
- -
- -
0.39
2026
0.04
- -
- -
- -
- -
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Business
China Great Wall Securities Co., Ltd. (002939.SZ) operates as a comprehensive securities firm in China, providing wealth management, investment banking, asset management, and securities investment and trading services. Its wealth management business segment offers securities brokerage for buying and selling, financial product sales, futures brokerage, margin trading and securities lending, agreed repurchase transactions, stock pledge repurchase, and investment consulting; the investment banking segment provides securities underwriting, sponsorship, financial advisory related to securities trading and investment activities, and equity financing services; the asset management segment delivers securities asset management, fund management through subsidiaries such as Great Wall Fund Management Co., Ltd. and Jingshun Great Wall Fund Management Co., Ltd., and custody services; while the securities investment and trading segment engages in proprietary trading, direct investment, interbank market interest rate swaps, stock index futures, treasury bond futures, OTC options, and foreign exchange settlement. The company serves retail investors, institutional clients including insurance institutions, and enterprises across capital markets, with a nationwide network of over 100 business departments, 109 securities sales departments, 18 branches in cities including Shenzhen, Beijing, Shanghai, Guangzhou, and Hangzhou, and subsidiaries such as Baicheng Futures Co., Ltd., Shenzhen China Great Wall Securities Investment Co., Ltd., and Shenzhen China Great Wall Changfu Investment Management Co., Ltd.[web:] Founded in 1995 with approval from the People's Bank of China through the merger of Shenzhen Great Wall Securities Business Department and Hainan Huitong International Trust and Investment Company, the firm is headquartered at 16-17/F, Shenzhen Special Zone Press Tower, No. 6008 Shennan Boulevard, Futian District, Shenzhen, Guangdong Province, China, and employs over 3,000 staff. It converted to a joint-stock company in April 2015 and listed on the Shenzhen Stock Exchange in October 2018. The controlling shareholder is Huanei Capital Services Co., Ltd., under China Huanei Group Co., Ltd. In recent developments, the company has expanded its operational footprint and business capabilities, maintaining over 10 branches and a broad domestic presence as of mid-2025, while focusing on a multi-functional financial business system amid stable financial indicators and ongoing digital transformation initiatives. It continues to leverage professional advantages in supporting listed companies' technology and industrial mergers and acquisitions, with no major acquisitions, funding rounds, or strategic alliances publicly reported in the last 1-2 years.