Guosheng Securities: It is expected that the net profit in 2025 will be between 210 million and 280 million yuan.

Guosheng Securities Announcement: It is expected that the net profit of the company in 2025 will be between 2.1 billion yuan and 2.8 billion yuan, an increase of 25.44% to 67.25% year-on-year. In 2025, the company will adhere to the original intention of serving the real economy, continuously strengthen professional service capabilities and research capabilities, and steadily develop various businesses. During this reporting period, the capital market was active, and the company seized market development opportunities to solidify its customer base. Securities brokerage, investment banking, and futures brokerage businesses all saw year-on-year increases in revenue. The company strengthened risk control, leading to a reduction in various impairment losses.