As the 2025 financial reports of shareholders of listed public fund companies are successively disclosed, the annual operating picture of the industry is gradually becoming complete. On the evening of March 30, many fund companies such as E Fund, GF, and Nanfang released profit data. The leading companies had a solid scale advantage, and industry growth and profit pressures coexisted.
It is worth noting that the 2025 annual report disclosed by China Post Fund has revealed the mystery of salary. The per capita salary has increased significantly year-on-year. Against the dual background of significant growth in performance and streamlining of personnel, it reflects the development trend of the public equity industry to reduce costs, increase efficiency, and focus on core talents.
The profits of nine public equity companies in 2025 are exposed
On the evening of March 30, the 2025 profitability of nine public funds including CICC Fund, Founder Fubon Fund, Cinda Australia and Asia Fund, GF Fund, E Fund, Huatai-PineBridge Fund, Southern Asset Management, Yinhua Fund, and Vanguard Fund were exposed.
From the perspective of leading public offerings, E Fund's operating income in 2025 is 12.996 billion yuan, a year-on-year increase of 7.33%; net profit is 3.806 billion yuan, a slight decrease of 2.42% year-on-year. The operating income of GF Fund was 8.541 billion yuan, a year-on-year increase of 17.64%; the net profit was 2.753 billion yuan, a year-on-year increase of 37.70%. Southern Fund's operating income was 8.767 billion yuan, a year-on-year increase of 16.55%; net profit was 2.705 billion yuan, a year-on-year increase of 15.05%.
It is worth noting that CICC Fund’s operating income in 2025 will reach 608.0478 million yuan, a significant increase from 458.3653 million yuan in 2024, a year-on-year increase of more than 32%, second only to the 36% increase of Hongta Red Earth Fund that previously disclosed its performance. The above two public funds are also the only two companies among the 28 public funds that have announced profits so far, with an increase of more than 30%.
At the same time, there are five public fund companies with declining revenue in 2025, including Shenwan Lingxin and Guohai Franklin.
In addition, the net profits of three fund companies, Founder Fubon, Cinda Australia and Huatai-PineBridge, will drop significantly in 2025. Specifically, Founder Fubon Fund achieved operating income of 275.0474 million yuan in 2025, a year-on-year increase of 3.55%; net profit was 17.8214 million yuan, a year-on-year decrease of 30.46%. Cinda Australia Asia Fund's operating income in 2025 is 616.2231 million yuan, a year-on-year decrease of 4.33%; net profit is 66.0871 million yuan, a decrease of nearly 35% from 100 million yuan in 2024.
China Post Fund’s per capita salary will reach 692,200 yuan in 2025
As China Post Fund, a fund company listed on the New Third Board, disclosed its 2025 annual report, its employee salary levels attracted market attention. As a rare public offering in the industry, China Post Fund disclosed detailed salary-related data in its annual report, providing a rare window for the outside world to observe the labor costs of the public offering industry.
According to data calculations, the per capita salary of China Post Fund employees in 2025 will be approximately 692,200 yuan, an increase of 26.4% from 547,500 yuan in 2024. The calculation process of this salary level is as follows: the total salary is calculated using the formula of "cash paid to and for employees + employee benefits payable at the end of the period – employee benefits payable at the beginning of the period".
The 2025 annual report of China Post Fund shows that in 2025, China Post Fund will pay 163 million yuan in cash to employees. The employee compensation payable at the end of the period is 46.755 million yuan, and the employee compensation payable at the beginning of the period is 32.0458 million yuan. From this, the total compensation is approximately 178 million yuan.
The number of employees is the average of the beginning and end of the period. In 2025, there were 264 employees at the beginning and 249 at the end of the period, with an average of approximately 257. After calculating the above data, we found that the per capita salary is 692,200 yuan.
In 2024, China Post Fund will pay 166 million yuan in cash to employees, the employee benefits payable at the end of the period will be 32.0458 million yuan, and the employee benefits payable at the beginning of the period will be 49.2141 million yuan. From this, it can be concluded that the company's total salary in 2024 will be approximately 149 million yuan, with an average of 272 employees, corresponding to a per capita salary of 547,500 yuan.
From the perspective of salary structure, although the company's overall number of employees will decrease by 15 in 2025 compared with 2024, and business positions such as investment research and operations have been reduced, the total salary has increased by nearly 29 million yuan, showing that the company's salary resources are further concentrated on core personnel in the context of cost reduction and efficiency improvement.
Wind data shows that China Post Fund achieved a net profit of 53.8608 million yuan in 2025, of which the net profit attributable to shareholders of the parent company was 51.4023 million yuan, a significant increase of 758.5% compared with 2024. Investment income will significantly increase from 22.55 million yuan in 2024 to 136 million yuan, becoming a key factor in driving profit growth. Management fee income is approximately 370 million yuan, accounting for 94.76% of operating income, and represents a year-on-year increase of 6.46% from 347 million yuan in 2024.
Industry insiders pointed out that although per capita salary has increased significantly, this salary data includes the costs of five insurances and one housing fund borne by executives and enterprises, and the actual income of ordinary employees may be far lower than this level.
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