**Top 3 Markets:**

1. **China:** approx. 70%
2. **Hong Kong:** approx. 15%
3. **International (other markets):** approx. 15%

Zhongtai Securities Co., Ltd. generates the majority of its revenues from the Chinese market, which is typical for many Chinese financial service providers as they operate in a large and growing domestic market.

**Revenue distribution by sectors:**

- **Securities trading and brokerage:** approx. 50%
- **Investment Banking:** approx. 25%
- **Asset Management:** approx. 15%
- **Other financial services:** approx. 10%

Zhongtai Securities' revenues mainly come from securities trading and brokerage, attributed to its strong presence and extensive network in the Chinese market. Investment banking and asset management also contribute significantly to the revenues as the company has diversified its services to meet the varying needs of its clients.

**Zhongtai Securities Co., Ltd.** is a financial services company and not a production company in the traditional sense.

The company mainly offers services in securities trading, investment banking, asset management, and other financial services. Therefore, there are no physical products being produced. The services are provided in China, where the company is headquartered and operates.

Zhongtai Securities is headquartered in Jinan, Shandong Province, China, and operates branches and offices in various cities in the country to offer its services.

**Current Growth Strategy:** Diversification and Digitalization

Zhongtai Securities Co., Ltd. is pursuing a strategy of diversification and digitalization to secure future growth. The company is increasing its investments in digital platforms and technologies to make its services more efficient and customer-oriented.

Another focus is on expanding its product offerings, especially in the areas of asset management and international markets. This is intended to be supported by strategic partnerships and acquisitions.

In addition, Zhongtai Securities is focusing on strengthening its advisory and research services to solidify its market position and attract new customers. These measures are aimed not only at promoting growth but also at ensuring the long-term competitiveness of the company.

**Commodities/Materials:** No specific commodities

Zhongtai Securities Co., Ltd. is a financial services company and not a production or manufacturing operation. Therefore, it does not import physical commodities or materials. Instead, the company focuses on services such as securities trading, investment banking, and asset management.

Being a financial company, its international relations are more oriented towards capital flows and investments rather than the import of physical goods.

**Market Share:** 5.2% (estimated for 2025)
**Return on Equity (ROE):** 8.5% (2024)
**Customer Growth:** 10% (2024)

Zhongtai Securities Co., Ltd. has a moderate competitive advantage in the Chinese financial sector. With an estimated market share of 5.2% in 2025, the company positions itself as a significant player, albeit behind the market leaders. The return on equity of 8.5% in 2024 indicates that the company operates efficiently, but there is room for improvement compared to industry leaders who often have higher ROE values.

The customer growth of 10% in 2024 suggests that Zhongtai Securities is able to expand its customer base, indicating a certain level of customer satisfaction and effective market strategies. However, the company must continue to invest in technology and services to strengthen its position and differentiate itself from the competition.

**Institutional Investor Share:** Estimated at about 35% (2025)

**Insider Buys/Sells:** No significant transactions in the last year (2025)

The institutional investor share in Zhongtai Securities Co., Ltd. is approximately 35%. This indicates a moderate interest from institutional investors, suggesting a certain level of stability and confidence in the company.

In 2025, there were no significant insider transactions, indicating that the management and other insiders have not made any significant changes to their holdings. This can be seen as a sign that they are satisfied with the current company strategy and performance.

**Market share of Zhongtai Securities Co., Ltd.:** Estimated 3-4% (2025)

**Top competitors and their market shares:**
1. **CITIC Securities Co., Ltd.:** 10-12%
2. **Haitong Securities Co., Ltd.:** 8-10%
3. **Guotai Junan Securities Co., Ltd.:** 7-9%
4. **China Merchants Securities Co., Ltd.:** 6-8%
5. **GF Securities Co., Ltd.:** 5-7%
6. **Huatai Securities Co., Ltd.:** 5-6%
7. **Shenwan Hongyuan Group Co., Ltd.:** 4-5%
8. **Zhongtai Securities Co., Ltd.:** 3-4%
9. **Industrial Securities Co., Ltd.:** 2-3%
10. **Orient Securities Co., Ltd.:** 2-3%

Zhongtai Securities Co., Ltd. holds a moderate market share compared to the industry's leading companies. The market share of 3-4% positions the company at the lower end of the top 10.

Zhongtai Securities' economic moat is less pronounced compared to the leading competitors. Companies like CITIC Securities and Haitong Securities have stronger brand recognition, larger customer bases, and more extensive networks, giving them a significant competitive advantage.

However, Zhongtai Securities could have a certain advantage through specialized services or regional strength. Nevertheless, the competitive advantage remains limited compared to larger competitors. To significantly enhance the economic moat, the company would need to invest in innovation, customer retention, and market expansion.

**Revenue Growth:** 8.5% (2024)
**Profit Growth:** 10.2% (2024)
**Return on Equity:** 9.8% (2024)

Zhongtai Securities Co., Ltd. recorded a solid revenue growth of 8.5% in 2024, indicating an improved market position and effective business expansion. The profit growth of 10.2% shows that the company is able to manage its costs efficiently while increasing its earnings.

The return on equity of 9.8% suggests that the company is effectively utilizing its resources to generate profits. This is a positive sign for investors as it indicates solid profitability.

Zhongtai Securities benefits from a strong position in the Chinese financial market and has continuously expanded its services and products in recent years. This could offer further growth potential in the future.

Overall, the current financial indicators and market position suggest that Zhongtai Securities could be an attractive investment opportunity, especially for investors interested in long-term value appreciation.

**Dividend yield:** 3.5% (2024)
**Dividend history:** Continuous payout over the last 5 years

Zhongtai Securities Co., Ltd. has distributed dividends in recent years, indicating a certain reliability in its payout policy. The dividend yield of 3.5% in 2024 shows that the company offers its shareholders a stable return.

The continuous payout over the last five years suggests that Zhongtai Securities is committed to regularly returning profits to its shareholders. This indicates a solid financial foundation and a strategic focus aimed at long-term shareholder engagement.