"Bond Mao" Oriental Wealth Performance Exploded! Last Year's Net Profit Reached Historical High

On the evening of March 19, East Money Information (300059) released its 2025 annual report, achieving a net profit of 12.085 billion yuan, a year-on-year increase of 25.75%, setting a new record high.

At the same time, well-known tech brokerage Tiger International (Nasdaq: TIGR) also disclosed its financial report on the evening of March 19. Tiger International’s full-year revenue for 2025 was $612 million, a 56.3% increase; net profit reached $187 million, a 164.7% increase, with both revenue and net profit hitting record highs.

East Money’s net profit exceeds 12 billion yuan, hitting a new high

The annual report shows that in 2025, East Money achieved total operating revenue of 16.068 billion yuan, up 38.46% year-on-year; net profit attributable to shareholders of the listed company was 12.085 billion yuan, up 25.75%. Basic earnings per share were 0.765 yuan. Additionally, the company plans to distribute a cash dividend of 1.00 yuan (tax included) for every 10 shares to all shareholders.

Regarding subsidiaries, East Money Securities achieved operating revenue of 13.672 billion yuan and net profit of 8.878 billion yuan in 2025. Tiantian Fund achieved operating revenue of 3.203 billion yuan and net profit of 180 million yuan in 2024.

Looking at business segments, East Money’s main businesses include securities services (East Money Securities, East Money Futures), financial e-commerce services (Tiantian Fund), and financial data services.

Specifically, securities services are the company’s primary revenue pillar, generating 12.535 billion yuan in 2025, a 47.59% increase from 2024, accounting for 78.02% of total revenue.

The annual report shows that in 2025, East Money Securities’ brokerage business had a stock and fund trading volume of 38.46 trillion yuan. During the reporting period, East Money Securities was approved to list securities market-making qualifications, actively promoted listed fund market-making, and expanded into market-making for STAR Market and Beijing Stock Exchange stocks, while maintaining steady growth in interbank and exchange-traded bond market-making.

The financial e-commerce services business achieved revenue of 3.182 billion yuan in 2025, a 12% increase from 2024, rebounding after three years of decline, accounting for 19.80% of total revenue. Previously, revenue from this segment peaked at 5.073 billion yuan in 2021, but declined for three consecutive years due to reforms in public fund fee rates and shrinking active equity fund sizes, until rebounding in 2025.

The annual report states that Tiantian Fund has built a full-chain service matrix using AI applications, creating an integrated value ecosystem of intelligent dialogue, intelligent fund selection, and intelligent investment. By the end of the reporting period, Tiantian Fund had launched 164 public fund managers and 21,900 fund products, with a non-money market public fund scale of 770.133 billion yuan and an equity fund scale of 445.617 billion yuan.

In terms of financial data services, East Money achieved revenue of 240 million yuan in 2025, a 25.18% increase, accounting for 1.5% of total revenue.

R&D investment declines

Notably, on the expense side, East Money’s R&D costs have decreased for the first time in recent years. In 2024, R&D expenses were 1.143 billion yuan; in 2025, they decreased to 1.067 billion yuan, a 6.66% decline, even lower than the 1.081 billion yuan in 2023. Major R&D projects include the Magic Think Financial Large Model training project, Magic Think Investment Research Assistant innovation project, and Tiantian Fund Data Intelligence Center, among 10 projects.

Looking at the proportion of R&D investment to total revenue over the past three years, the ratios were 9.75% in 2023, 9.85% in 2024, and 6.64% in 2025.

However, the number of R&D personnel increased, from 1,868 in 2024 to 1,973 in 2025, a 5.62% growth.

Tiger International’s net profit hits record high in 2025

Meanwhile, before the US stock market opened on March 19, Tiger International (Nasdaq: TIGR), a well-known tech brokerage, announced its unaudited financial data for the fourth quarter ending December 31, 2025.

Financial data shows that Tiger International’s full-year revenue for 2025 was $612 million, a 56.3% increase, setting a new record; non-GAAP net profit attributable to the parent company reached $187 million, a 164.7% increase, also a record high. For the full year, the company added 162,000 new deposit clients. As of the end of Q4 last year, Tiger International’s total client assets worldwide reached $60.8 billion.

Quarterly, in Q4 2025, Tiger International’s revenue was $176 million, a 41.5% increase; non-GAAP net profit attributable to the parent was $48.9 million, up 60.5%. In Q4, the company added 29,700 new deposit clients, driving total deposit clients to grow 14.8% year-on-year to 1.254 million.

Tiger International founder and CEO Wu Tianhua stated: “In 2025, Tiger’s various businesses developed steadily, and our internationalization strategy advanced steadily. Both revenue and net profit achieved significant breakthroughs compared to the previous year, with net inflows exceeding $10 billion. We continue to attract high-quality clients globally, with client assets in Singapore increasing over 50% year-over-year in Q4; the Hong Kong market performed even more strongly, with client assets more than tripling compared to last year, and new clients’ net inflow reaching a record high of $43,000. Client assets in markets like Australia and New Zealand also doubled year-over-year.”