Nine more public funds release their "Annual Ledger": E Fund's revenue nearly 13 billion yuan last year, China Post Fund's average salary increased to 690,000 yuan

Each Daily Reporter｜Li Na    Each Daily Editor｜Xiao Ruidong

As publicly offered fund companies’ shareholders of publicly listed companies continue to disclose their 2025 annual reports, the industry’s full annual operating picture is gradually taking shape. On the evening of March 30, multiple fund companies—including E Fund, GF, Southern, and others—concentratedly released profitability data. With their advantages in scale remaining solid, the industry faces both growth and earnings pressure at the same time.

What is particularly worth noting is that the 2025 annual report disclosed by the Postal Savings Fund reveals the pay mystery. The average compensation per employee increased significantly year over year. Against the dual backdrop of a surge in performance and staff streamlining, it reflects a development trend in the publicly offered fund industry toward cost reduction and efficiency gains, with an emphasis on core talent.

Profitability of nine publicly offered funds in 2025 exposed

On March 30 evening, nine publicly offered fund companies—including CICC Fund, Founder- 富邦 Fund, Xinda-Aoya Fund, GF Fund, E Fund, Huatai-Pinebridge Fund, Southern Fund, Yinxiang Fund, and Wanjia Fund—had their 2025 profitability situations exposed.

From the perspective of top-tier publicly offered fund companies, E Fund’s operating revenue in 2025 was 13B yuan, up 7.33% year over year; net profit was 3.81B yuan, down slightly 2.42% year over year. GF Fund’s operating revenue was 8.54B yuan, up 17.64% year over year; net profit was 2.75B yuan, up 37.70% year over year. Southern Fund’s operating revenue was 8.77B yuan, up 16.55% year over year; net profit was 2.71B yuan, up 15.05% year over year.

What is particularly worth noting is that CICC Fund’s operating revenue in 2025 reached 608.05M yuan, up significantly from 458.37M yuan in 2024, with a year-over-year increase of more than 32%. It ranks second only to Hongta Hongtu Fund, which previously disclosed performance growth of 36%. Among the 28 publicly offered fund companies that have currently released their profitability data, the two companies above are the only ones whose growth exceeds 30%.

Meanwhile, publicly offered fund companies with declining revenue in 2025 include 5 fund companies such as Shenyang–Mie? Jiang? and Guohai Franklin.

In addition, net profits in 2025 for three fund companies—Founder-Fubon, Xinda-Aoya, and Huatai-Pinebridge—fell sharply across the board. Specifically, Founder-Fubon Fund achieved operating revenue of 275.05M yuan in 2025, up 3.55% year over year; net profit was 17.82M yuan, down 30.46% year over year. Xinda-Aoya Fund’s operating revenue in 2025 was 616.22M yuan, down 4.33% year over year; net profit was 66.0871 million yuan, which, compared with 100M yuan in 2024, implies a decline of nearly 35%.

Postal Savings Fund: Average compensation per employee in 2025 reached 692.2k yuan

With the Postal Savings Fund among New Third Board listed fund companies disclosing its 2025 annual report, the market has focused on the company’s employee compensation level. As a rare listed publicly offered fund company in the industry, the Postal Savings Fund disclosed detailed compensation-related data in its annual report, providing a valuable window for outsiders to observe labor costs in the publicly offered fund industry.

According to data calculations, the Postal Savings Fund’s average compensation per employee in 2025 was about 692.2k yuan, up 26.4% from 547.5k yuan in 2024. The calculation process for this compensation level is as follows: the total compensation amount is calculated using the formula “cash paid to employees and cash paid for employees + compensation payable to employees at the end of the period − compensation payable to employees at the beginning of the period.”

The Postal Savings Fund’s 2025 annual report shows that in 2025, the Postal Savings Fund paid cash to employees of 163 million yuan, compensation payable to employees at the end of the period of 692.2k yuan, and compensation payable to employees at the beginning of the period of 32.0458 million yuan. This yields a total compensation amount of approximately 178 million yuan.

The number of employees is taken as the average of the beginning and end of the period: there were 264 employees at the beginning of 2025 and 249 at the end, for an average of about 257 employees. After calculating the above data, the average compensation per employee is 692.2k yuan.

In 2024, the Postal Savings Fund paid cash to employees of 166 million yuan, compensation payable to employees at the end of the period of 32.0458 million yuan, and compensation payable to employees at the beginning of the period of 49.2141 million yuan. This results in the company’s total compensation in 2024 of approximately 149 million yuan, with an average of 272 employees, corresponding to an average compensation per employee of 547.5k yuan.

From the perspective of compensation structure, although the company’s overall employee count in 2025 decreased by 15 compared with 2024, and roles in research and investment and operations were also reduced, the total compensation amount increased by nearly 29 million yuan instead. This indicates that, in the context of cost reduction and efficiency gains, the company further concentrated compensation resources on core personnel.

Cover image source: AIGC