Sino-Fung Financial Holdings (2890) announced today that its cumulative self-tax net profit for October 2026 reached 38.531 billion yuan, an increase of 68% from the previous year. The cumulative earnings per share (EPS) for the first ten months was 2.61 yuan. Coupled with the annualized return on shareholders' equity reaching 17.10%, all financial results set a new high for the same period in the company's history.
First, let’s analyze the operating results. From the beginning of 2026 to the present, SinoPac Financial Holdings’ accumulated after-tax net profit for the first ten months of 2026 was 38.531 billion yuan (an annual increase of 68%), which was mainly driven by the record-high profits of its core subsidiaries.
In terms of major subsidiaries, "Wing Feng Bank" has set a new profit record for the sixth consecutive year, with cumulative after-tax net profit in the first ten months reaching 20.373 billion yuan (an annual increase of 15%). Net income growth was driven by growth in net interest income and net fee income, with annual growth rates of 24% and 10% respectively. Asset quality remains stable, with the bank's over-lending ratio at 0.24%.
As for "Beijing Bank", the cumulative after-tax net profit in the first ten months was 5.342 billion yuan. After deducting the 288 million yuan gain from the leasing disposal of Jingcheng Yin International in January and the amortization expenses of identifiable intangible assets, the profit contribution to the financial holding was 4.645 billion yuan, of which net interest income, net fee income and net income from financial transactions grew significantly. Asset quality is stable, and the bank's over-lending ratio is 0.14%.
In addition, the after-tax net profit of "SinoPac Securities" reached 12.015 billion yuan (an annual increase of 124%), which also hit a record high for the same period in history. This was mainly due to the growth of net income from brokerage and financial management fees, as well as higher capital gains. The annual growth rate of net fee income is 110%.
As for the single-month performance in 2026, SinoPac Financial Holdings’ net profit after tax in October was 1.756 billion yuan (a monthly decrease of 49%). The monthly decrease was mainly due to a large net income from underwriting fees last month, as well as the decrease in capital gains of the securities and venture capital subsidiaries affected by capital market fluctuations. In addition, each subsidiary is required to recognize employee stock subscription expenses due to the current cash capital increase, resulting in a decrease in profits compared to the previous month.
Among them, "SinoPac Bank"'s net profit after tax in October was 1.400 billion yuan (a monthly decrease of 19%). The change between months was mainly due to higher withdrawal fees and a decrease in net income from handling fees, which offset better net income from financial transactions; "Beijing Bank"'s net profit after tax was 239 million yuan. (Monthly decrease of 16%). The decrease was mainly due to the decrease in net income from financial transactions this month and higher operating expenses; "SinoPac Securities" after-tax net profit was 370 million yuan (monthly decrease of 74%). The decrease was mainly due to a large net income from underwriting fees last month and a significant decrease in capital gains.
