On a TTM basis through 2026Q1, pre-tax profit is currently about 6,408.2bn, equivalent to a pre-tax margin of 71.6%, but headline durability remains more sensitive to revaluation, with margin also improving by +27.7pp, pointing to better earnings quality. The revenue mix still leans mainly on trading at 83.0% after expanding by +10.0pp, while lending is at 14.2%; brokerage and services are still only 2.8% and have narrowed by 2.1pp, so diversification remains thin. On the balance sheet, Equity / Assets is 73.0% while Leverage is about 0.37x, indicating a still relatively balanced capital posture, but buffers have thinned while leverage has risen further.
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