Unexpected! Rare! A brokerage firm’s Q1 net profit plummeted by 98%, unexpectedly due to a single stock

Glonghui, April 21 – Guosheng Securities announced its results last night, showing that in the first quarter of 2026, it achieved operating income of 296 million yuan, a year-on-year decrease of 28.82%. Net profit attributable to shareholders of the listed company was 1.4687 million yuan, a year-on-year decrease of 97.91%. The performance change was mainly due to the significant decrease in the company’s total profit and net profit caused by market value fluctuations in the HTT stock held by its subsidiary during this period. The HTT stock referred to by Guosheng Securities belongs to the US-listed company High Templar Tech Limited, commonly known to the public as Qudian. Qudian is a consumer technology company providing credit solutions to consumers. Since December 8, 2025, HTT stock has experienced a cliff-like decline, with the share price falling from $4.89 to $1.94, hitting a low of just $1.88. As of March 31, 2026, the stock’s range decline had reached as much as 60.33%. In the first quarter of this year, HTT’s share price fell 48.95%, nearly halving. Although there has been some rebound in the share price since April, as of the close on April 17, it was $2.56, still at a relatively low historical level.