Haitong Securities (HTNGF)

Thursday

9:55 PM

ThesisRecent strong performance in brokerage revenue and strategic partnerships are enhancing growth prospects, leading to a more favorable outlook for the stock.

Revenue Outlook

Metric	FY2023	FY2024E	FY2025E
Revenue	$22.4B	$2.4B	$2.8B
Rev. Growth	+294%	-89.1%	+15.5%
EPS	$0.08	$0.00	$0.02
EPS Growth	+3.5%	-96.2%	+548%
P/E (fwd)	6.8×	178.9×	27.6×

★ Analysts see FY2025 revenue reaching $2.8B — +15.5% growth in a single year.

What’s Driving the Stock

01Haitong's brokerage revenue surged 300% YoY in Q1 2026, driven by increased retail trading activity.
02The company has secured a strategic partnership with a leading fintech firm to enhance its digital trading platform, expected to improve user engagement by 40%.
03Regulatory easing in China is anticipated to boost foreign investment flows into the domestic capital markets, benefiting Haitong's investment banking segment.
04Recent market trends show a shift towards ESG-focused investments, with Haitong's asset management division launching new ESG funds, potentially increasing AUM by 25%.
05Digital transformation in financial services
06Growth of retail investing in China
07Changes in trading volumes on the Shanghai and Shenzhen stock exchanges
08Regulatory changes affecting capital markets in China

FY2023 Snapshot

Revenue: $22.4B
Rev. Growth: +294%
Gross Margin: 100%
Op. Margin: 19.5%
Net Margin: 4.5%
Net Income: $1.0B
NI Growth: +3.5%
EPS: $0.08
1Y Return: +0.0%

HTNGF Chart

My Notes

"Haitong is well-positioned to capitalize on the growing retail investor base in China."
Moat: Haitong's established brand and extensive distribution network provide a durable competitive advantage in the Chinese market.
growth - Investors looking for exposure to the rapidly expanding Chinese capital markets.
Rising interest rates can increase the cost of borrowing for clients, potentially dampening trading activity and investment banking revenues…
Watch on earnings: Shanghai Composite Index performance, Trading volumes on major Chinese exchanges, Regulatory announcements impacting capital markets.

One Sentence Summary:

The bull case is simple: analysts see revenue climbing from $2.4B to $2.8B as haitong's brokerage revenue surged 300% yoy in q1 2026, driven by increased retail trading activity.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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