Performance Hits Record High Yet Stock Price Turns Green, "Brokerage Blue Chip" East Money Group Drops Over 5% Today, R&D Expenses Fall for First Time in Three Years

AI Performance Hits New High but Stock Price Falls Back; Market Worries About Hidden Risks

Image Source: Visual China

Blue Whale News, March 20th (Reporter Hu Jie) “The ‘Stock Guru’ Oriental Fortune (300059.SZ) recently released its 2025 earnings report: revenue and net profit both hit record highs, with the largest increase in three years. However, despite the good performance, the stock price did not rise accordingly. Today, Oriental Fortune’s stock price fell over 5%, closing at 20.21 yuan, with nearly 2 billion yuan of net outflows by major funds, ranking first among A-shares.”

It is worth noting that Oriental Fortune’s net profit attributable to the parent in the fourth quarter declined year-on-year and quarter-on-quarter, and R&D expenses for the full year decreased for the first time in three years.

Last year, two major subsidiaries of Oriental Fortune showed relatively stable performance, but their business results diverged. Oriental Fortune Securities’ proprietary trading was under significant pressure, with revenue of 2.376 billion yuan in 2025, down 31.03% year-on-year, possibly affected by bond market fluctuations. Tiantian Fund’s fund holdings and sales increased last year, with steady agency sales.

Revenue and Net Profit Reach Record Highs

According to the annual report, Oriental Fortune achieved a total operating revenue of 16.068 billion yuan in 2025, up 38.46% year-on-year; net profit attributable to shareholders of the listed company was 12.085 billion yuan, up 25.75%. Both revenue and net profit hit record highs, with the largest increase in three years.

However, the company’s fourth-quarter performance declined somewhat. In Q4 2025, Oriental Fortune’s net profit attributable to the parent was 2.987 billion yuan, down 16.28% year-on-year and 15.37% quarter-on-quarter.

Notably, the reporter observed that R&D expenses for Oriental Fortune decreased for the first time in three years.

In 2025, R&D expenses totaled 1.067 billion yuan, down 6.66% from 2024, marking the first decline in recent years. Major R&D projects include the Magic Think Financial Large Model training project, Magic Think Investment Research Assistant innovation project, and Tiantian Fund Data Intelligence Center, among 10 projects. The proportion of R&D investment to total revenue also decreased, from 9.75% in 2023 to 9.85% in 2024, and 6.64% in 2025. Despite this, the number of R&D personnel increased by 5.62% to 1,973.

Additionally, the company’s financial data services business grew rapidly, with revenue of 240 million yuan in 2025, up 25.18%, accounting for 1.5% of total revenue.

Subsidiaries’ Performance

In 2025, Oriental Fortune Securities achieved total revenue of 13.672 billion yuan and net profit of 8.878 billion yuan, up 26.29% and 24.57%, respectively. According to unaudited financials, the proprietary trading business faced significant pressure, with revenue of 2.376 billion yuan, down 31.03%, including investment income of 2.557 billion yuan (down 17.09%) and fair value change losses of 182 million yuan.

Tiantian Fund’s revenue was 3.203 billion yuan, with a net profit of 180 million yuan, up 12.27% and 19.21%, respectively. Fund holdings and sales increased.

As of the end of 2025, Tiantian Fund had 164 public fund managers managing 21,930 funds, with non-money market public fund assets totaling 770.133 billion yuan, up 25.97%; equity funds totaled 445.617 billion yuan, up 16.54%. In 2025, Tiantian Fund’s internet financial e-commerce platform achieved fund sales of 2.61 trillion yuan, up 38.51%, with non-money market fund sales reaching 1.58 trillion yuan, up 45.52%.

By the end of 2025, Oriental Fortune’s total assets reached 392.934 billion yuan, an increase of 28.25% year-on-year. According to the 2025 dividend plan, the company plans to distribute 1 yuan per 10 shares, totaling 1.58 billion yuan in cash dividends.

Major Shareholders and Executives Cash Out Over 9 Billion Yuan Since Last Year

In recent years, the actual controller family of Oriental Fortune and senior management have frequently reduced holdings and transferred shares through inquiries, attracting market attention. Since last year, they have cashed out over 9 billion yuan in total.

The reporter’s review of Oriental Fortune’s announcements shows that Vice President Cheng Lei sold 2.6 million shares on March 4 via centralized bidding, at an average price of 21.15 yuan per share. This sale netted approximately 54.99 million yuan.

Earlier, in January, senior managers Huang Jianhai and Yang Hao sold a total of 349,900 shares, realizing over 8 million yuan.

Chairman actually did not reduce holdings in 2025, but his concerted action partners Shen Yougen (actually the father) and Lu Lili (actually the wife) announced plans to reduce holdings.

In July 2025, Oriental Fortune announced that Shen Yougen planned to transfer 158.8 million shares (1.00% of total shares) through inquiry transfer at 21.66 yuan per share, netting about 3.439 billion yuan.

In late September, the company announced that shareholders Lu Lili and Shen Yougen planned to transfer 238 million shares (1.50%) via inquiry transfer due to personal funding needs. The transfer was completed in October at 24.4 yuan per share, totaling over 5.8 billion yuan in cash.

In February this year, Oriental Fortune announced that Chairman actually planned to donate 20 million unrestricted shares (0.13% of total shares) to the Shanghai Jiao Tong University Education Development Foundation. After donation, his shareholding would decrease to 19.25%. Based on today’s closing price of 20.21 yuan per share, the donation’s market value is about 402 million yuan.

The 2025 annual report shows that last year, actually received a pre-tax remuneration of 4.9222 million yuan from the company, slightly down from 5.0198 million yuan in 2024.

Despite reaching new highs in performance, the reporter notes that today, Oriental Fortune’s stock fell over 5%, closing at 20.21 yuan, with nearly 2 billion yuan of net outflows by major funds, ranking first among A-shares.