Mega Gold made a huge profit of RMB 34.3 billion in the first ten months, a record high for the same period last year, with EPS of RMB 2.31

Mega Gold (2886) announced today (13th) its self-financed profit performance in October. It benefited from the active capital market transactions and the simultaneous growth of profits of each subsidiary, demonstrating the benefits of a diversified profit structure. Mega Gold's after-tax net profit in October was 1.483 billion yuan. The cumulative after-tax net profit in the first ten months reached 34.331 billion yuan, an annual increase of 12.8%. The after-tax earnings per share (EPS) was 2.31 yuan. The overall profit hit a new high for the same period in previous years.

Mega Financial Holdings stated that Mega Financial Holdings Group has adopted a diversified business strategy, and the results have gradually emerged. Since the beginning of this year, the core business of the bank has grown steadily, continuing to inject profits into the group. At the same time, benefiting from the booming capital market transactions, the profits of non-bank subsidiaries such as securities and bills have been outstanding. In the first ten months, the total after-tax net profit of non-bank subsidiaries reached 8.356 billion yuan, an increase of 68.21% over the same period last year, and the profit ratio increased from 16.47% to 23.73%.

The main source of profit is Mega Bank. Due to large investment losses in stocks and funds, its net profit after tax in October was 2.035 billion yuan. However, the cumulative pre-tax net profit in the first ten months was 32.061 billion yuan, which was still a record high for the same period in the past. The after-tax net profit was 26.853 billion yuan, an annual increase of 6.61%. According to MegaGold's analysis, profit growth mainly comes from the maintenance of double-digit growth in the scale of deposit business, driving net interest income to increase by 16% annually. In addition, it continues to deepen its wealth management business such as bonds, funds and insurance, driving up the growth of net fee income by 22%, supporting the overall recurring income performance.

Mega Securities, which has benefited from the booming stock market this year and has frequently hit record highs in profits, suffered a single-month after-tax net loss of 666 million yuan in October due to the pullback of Taiwanese stocks. However, the cumulative after-tax net profit in the first 10 months still reached 4.367 billion yuan, an annual increase of 131.42%, a record high for the same period in previous years. MegaGold analyzed that the trading volume of Taiwanese stocks will increase this year, and the balance of financing and unrestricted loans will increase simultaneously, driving brokerage fee income and interest income to grow by 103% and 51% respectively; profits from self-operated and underwriting businesses will also increase significantly, and cumulative profits will double compared with the same period last year, becoming an important growth driver for the group's non-banking business this year.

In addition to the two major profit engines of banks and securities, the performance of Mega Bills and Mega Property & Casualty Insurance also grew steadily. Mega Notes' after-tax net profit in October was 150 million yuan, and the cumulative after-tax net profit in the first 10 months was 2.694 billion yuan, an annual increase of 27.61%; Mega Property & Casualty Insurance's after-tax net profit in October was 40 million yuan, and the cumulative after-tax net profit in the first 10 months was 900 million yuan, an annual increase of 14.23%.