The warming of the A-share market is benefiting a large number of industry chain institutions.
The operating situation of Ant Fund, the largest fund sales platform in China, for the first half of the year has been &#34;exposed.&#34;
In the latest disclosure of the 2025 semi-annual report by Hundsun, Ant (Hangzhou) Fund Sales Co., Ltd. (commonly known in the industry as &#34;Ant Fund&#34;) revealed very good mid-year report figures.
Hundsun shows that in the first half of 2025, Ant Fund's operating income was nearly 9.251 billion yuan, a year-on-year increase of 22.46%; net profit was 434 million yuan, a year-on-year increase of 360.66%.
Even without considering the premise of fund fee reductions, Ant has achieved a very good semi-annual report.
<h2>Sales Scale Increased Again?</h2>
According to the fund sales retention scale data disclosed by the Asset Management Association of China, Ant Fund has maintained its position as the top sales retention scale in the country for several consecutive years.
By the end of last year, Ant was the clear leader in the market for equity fund retention scale, non-money fund retention scale, and stock index fund retention scale.
However, after entering 2025, the Asset Management Association has not released new data. But according to the simple formula of sales scale * sales fee rate = operating income, it is highly likely that in the first half of 2025, the fund sales scale handled by Ant Fund has shown significant growth again.
It is very likely that its &#34;clear first&#34; advantage in the industry has become even more pronounced.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ef7e46a1-01cb-4b97-8e59-1ea6d14fb70a.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ef7e46a1-01cb-4b97-8e59-1ea6d14fb70a.png"/>
<h2>Business is Growing Bigger</h2>
Hundsun also disclosed a series of important asset indicators for Ant Fund.
From the perspective of current assets and liabilities, the assets handled by Ant Fund are terrifying numbers. Data shows that by the end of the year, Ant Fund's current asset balance reached 153.429 billion yuan, and the total asset scale of the company reached 153.53 billion yuan, with growth rates exceeding 60% compared to last year.
Additionally, by the end of the period, Ant's current liabilities also exceeded 150 billion yuan, with total current liabilities and total liabilities both exceeding 150.72 billion yuan, an increase of 63.8% compared to last year.
It is evident that Ant's business is getting bigger and bigger.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/8779afbc-6f59-4b4a-9358-72fcf613156b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/8779afbc-6f59-4b4a-9358-72fcf613156b.png"/>
<h2>More Profitable</h2>
Moreover, Ant Fund's profit margin has also improved this year. According to Hundsun's semi-annual report (see the chart below), Ant Fund's profit for the first half of this year reached 434 million yuan, with a net profit margin of 4.69%. This operating figure represents a significant increase compared to last year's net profit of over 94 million yuan and a net profit margin of 1.25%.
Although for Ant Fund, its operating report is largely influenced by the internal settlement principles of Ant Group (Alipay), the clearly elevated net profit margin has still given the outside world more confidence in the value of this asset from Hundsun
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/0be32073-5567-47c2-b161-44265d2676e9.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/0be32073-5567-47c2-b161-44265d2676e9.png"/>
Another interesting comparative approach is to compare the operating figures of ANT FUND with those of TianTian Fund (under Dongfang Caifu) during the same period. We can clearly see that ANT FUND's profitability has surpassed that of TianTian Fund and is even higher.
According to the semi-annual report recently released by Dongfang Caifu, TianTian Fund achieved a total operating revenue of 1.424 billion in the first half of 2025, with a net profit of 64 million (see chart below), and a net profit margin of 4.49%. <img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a63d268b-d556-469d-a171-69554a4f6c66.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a63d268b-d556-469d-a171-69554a4f6c66.png"/>
Considering the data released by the Asset Management Association of China, the scale of fund sales retained by TianTian Fund is roughly between half to one-third of that of ANT. From this perspective, ANT FUND's revenue is significantly higher.
Of course, this does not rule out the possibility that the two institutions have different accounting statistical standards.
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The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial conditions, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

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The recovery of the A-share market has significantly improved the operating conditions of ANT GROUP. According to a report by Hundsun, in the first half of 2025, ANT GROUP's operating revenue was nearly 9.251 billion yuan, a year-on-year increase of 22.46%; net profit was 434 million yuan, a year-on-year increase of 360.66%. ANT GROUP continues to maintain a leading position in fund sales retention scale, with significant growth in both current assets and total assets, demonstrating its ongoing business expansion and improvement in profitability

As the 4000-point mark approaches, even the profits of ANT GROUP's funds have quadrupled