Changjiang Securities Co Ltd
Changjiang Securities Co Ltd operates as a financial services firm within the Capital Markets industry, generating revenue through brokerage, investment banking, and asset management activities.
Business. Changjiang Securities Co Ltd operates as a financial services firm within the Capital Markets industry, generating revenue through brokerage, investment banking, and asset management activities.
Analyst recommendations
2 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
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Analysis
AI analysisOpportunity
Upcoming catalysts
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Changjiang Securities Co Ltd operates as a financial services firm within the Capital Markets industry, generating revenue through brokerage, investment banking, and asset management activities.
Changjiang Securities maintains a capital structure characterized by significant leverage, with a debt-to-equity ratio of 2.07. Total liabilities stand at CNY 164.3 billion against total equity of CNY 41.9 billion, resulting in a negative net cash position after subtracting total debt. The company holds CNY 86.8 billion in long-term debt. Liquidity is assessed as medium risk, supported by operating cash flow of CNY 1.96 billion and free cash flow of CNY 1.89 billion. The current ratio is not explicitly provided, but the high leverage indicates reliance on debt financing for operations and balance sheet expansion.
Profitability metrics show a return on equity (ROE) of 8.82% and a return on assets (ROA) of 1.79%. The company generated net income of CNY 3.70 billion on revenue of CNY 11.54 billion, yielding a net margin of approximately 32%. Operating income was CNY 4.76 billion, indicating strong operational efficiency relative to revenue. Without cohort median data for direct comparison, these returns must be evaluated against general industry standards for capital markets firms, where ROE often fluctuates with market conditions. The price-to-earnings ratio of 14.26 and price-to-book ratio of 1.26 suggest the market values the company at a moderate premium to book value.
- High leverage with a debt-to-equity ratio of 2.07 and negative net cash position.
- Moderate profitability with an ROE of 8.82% and net margin of 32%.
- Valuation multiples of P/E 14.26 and P/B 1.26 suggest moderate market pricing.
- Low dilution risk but medium liquidity risk due to high debt levels.
- Lack of segment and historical data limits detailed performance analysis.
Bull / Bear case
Generated · model-assistedNet income surged 101.4% year-over-year to CNY 3.7 billion in FY2026, demonstrating exceptional profitability growth.
Free cash flow turned positive with a 757.8% increase to CNY 1.9 billion, signaling improved cash generation.
Analysts project 2.8% upside to a mean price target of CNY 8.58, suggesting modest valuation support.
Debt-to-equity ratio of 2.07 places the company in the bottom quartile, indicating high financial leverage risk.
The company faces a high credit risk flag, suggesting potential difficulties in meeting financial obligations.
Cash conversion ratio of 0.53 is below the cohort median of 1.2, reflecting weaker cash generation efficiency.
Return on assets of 1.79% remains low, indicating inefficient utilization of total assets for profit generation.
Medium liquidity risk flags suggest potential challenges in meeting short-term financial obligations promptly.
In focus — financials by report
Revenue ¥3.37B; Operating income ¥1.91B.
- ▍Revenue ¥3.37B
- ▍Operating income ¥1.91B
- ▍Net margin 44.1%
Revenue ¥2.06B; Operating income ¥466.8M.
- ▍Revenue ¥2.06B
- ▍Operating income ¥466.8M
- ▍Net margin 15.7%
Revenue ¥3.78B; Operating income ¥2.16B.
- ▍Revenue ¥3.78B
- ▍Operating income ¥2.16B
- ▍Net margin 43.3%
Revenue ¥11.54B, +56,8% YoY; Operating income +141,4% YoY.
- ▍Revenue ¥11.54B, +56,8% YoY
- ▍Operating income +141,4% YoY
- ▍Net income +101,4% YoY
- ▍Free cash flow +757,8% YoY
- ▍Net margin 32.0%
Revenue ¥7.36B, −1,1% YoY; Operating income +21,1% YoY.
- ▍Revenue ¥7.36B, −1,1% YoY
- ▍Operating income +21,1% YoY
- ▍Net income +18,5% YoY
- ▍Free cash flow +42,7% YoY
- ▍Net margin 24.9%
Revenue ¥7.44B, +6,5% YoY; Operating income +0,5% YoY.
- ▍Revenue ¥7.44B, +6,5% YoY
- ▍Operating income +0,5% YoY
- ▍Net income +2,5% YoY
- ▍Free cash flow +67,6% YoY
- ▍Net margin 20.8%
Revenue ¥6.99B, −25,7% YoY; Operating income −49,0% YoY.
- ▍Revenue ¥6.99B, −25,7% YoY
- ▍Operating income −49,0% YoY
- ▍Net income −37,3% YoY
- ▍Free cash flow −95,5% YoY
- ▍Net margin 21.6%
Revenue ¥9.40B; Operating income ¥3.18B.
- ▍Revenue ¥9.40B
- ▍Operating income ¥3.18B
- ▍Net margin 25.6%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,66 |
| Revenue | —no estimate | —no estimate | 11,6B CNY |
| Operating income | —no estimate | —no estimate | —no estimate |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Price To Earningsmarket_price / (net_income / shares_outstanding_diluted)
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Enterprise Valuemarket_cap - net_cash
- Return On Assetsnet_income / total_assets
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Changjiang Securities Co Ltd Market data — financials · 2026-07-07
Ownership & reference
Leadership
- Yuanrui LiuPresident, Director