[Edaily Reporter Shin Ha-yeon ] SANGSANGININVESTMENT&SECURITIES(001290)has continued its profitable trend through the second quarter, following the first quarter of this year, signaling a positive outlook for returning to an annual profit. Improvements in the company’s earnings structure have become evident as its major business divisions—including asset management, wholesale, investment banking (IB), and retail—generated profits across the board.

SANGSANGINVESTMENT&SECURITIES announced on the 14th that its cumulative net profit for the first half of this year totaled approximately 11.1 billion won. After reducing its operating loss from 49.7 billion won in 2024 to 9.2 billion won last year, the company has now posted profits for two consecutive quarters this year.

Another notable feature is that performance was not concentrated in any single business division. The company explained that the diversification of its business portfolio—which it has been pursuing—led to improved performance, as all business divisions, including asset management, wholesale, investment banking (IB), and retail, posted profits.

Growth in the asset management division was particularly notable. In response to the expansion of the domestic stock market during the first half of the year, SANGSANGINVESTMENT&SECURITIES reorganized its equity management team and managed its portfolio flexibly in line with market conditions. As a result, the asset management division’s net profit for the second quarter reached 3.9 billion won, a 77.3% increase from the 2.2 billion won recorded in the same period last year.

The company also expanded its performance in the bond underwriting market. In the first half, it underwrote 77 corporate bond deals totaling 1.29 trillion won, ranking 7th among all securities firms (with a 4.54% market share). For credit card bonds, it underwrote 32 deals totaling 500 billion won, ranking 12th. In the overall debt capital market (DCM), which includes corporate and bank bonds, the company recorded underwriting performance of 126 deals totaling 2.55 trillion won.

The wholesale division also grew, driven by the expansion of its institutional business base. Net profit for the wholesale division in the second quarter was 2.4 billion won, a 79.3% increase compared to the same period last year.

The retail division recorded a net profit of 1.4 billion won in the second quarter, returning to profitability compared to the same period last year, as cost efficiencies from branch consolidations and improvements in the convenience of the mobile trading system (MTS) coincided with a strong stock market.

The Investment Banking (IB) division also returned to profitability year-over-year, posting a net profit of 1.4 billion won, building on its real estate financing capabilities, which it has been strengthening since late last year.

Based on its improved first-half performance, SANGSANGINVESTMENT&SECURITIES aims to achieve annual operating profit of over 18 billion won this year. In the second half, the company plans to expand its brokerage business targeting institutional investors to boost revenue from corporate equity trading and improve profitability in its bond trading division in line with stabilizing interest rates.

The firm also intends to develop the proprietary trading organization, newly established in the first half, into a revenue source for the second half. In addition, it plans to pursue additional deals in the corporate finance sector, including mezzanine investments, capital increases, stock-backed loans, and M&A advisory services.

Joo Won, CEO of SANGSANGINVESTMENT&SECURITIES, stated, “The consecutive quarterly profits in the first half were not the result of a one-off success in any single division, but rather the outcome of a balanced business portfolio that we have built to ensure our overall revenue structure remains stable even when market conditions fluctuate.” He added, “We will solidify this year as the starting point for SANGSANGINVESTMENT&SECURITIES’ resurgence through a return to profitability.”