Xin Lang Cai Jing·2025-07-21 02:56Group 1 - The core viewpoint of the articles highlights the strong performance of the securities sector in the A-share market, with significant trading volume and positive earnings forecasts for brokerage firms [1][2] - As of July 21, the A-share market maintained high trading volumes, with an average daily turnover of 1.55 trillion yuan, reflecting a week-on-week increase of 3.80% [1] - A listed brokerage announced a plan for a targeted issuance, with the controlling shareholder and related parties subscribing for 2 billion yuan, representing 33.3% of the total fundraising, indicating strong support for capital replenishment from state-owned shareholders [1] Group 2 - In terms of performance, major brokerages reported a year-on-year net profit growth rate concentrated between 50% and 80%, while smaller brokerages showed growth rates between 50% and 120%, with some achieving over 1000% growth due to low base effects [2] - Key growth drivers for the brokerages included wealth management, investment trading, and investment banking, reflecting an increase in the activity level of the equity market and strong year-on-year growth in trading volume and investment banking financing [2] - The outlook for the second half of the year remains positive, supported by a stable and active capital market, with continued high trading activity and a recovering Hong Kong IPO market creating a favorable operating environment for brokerages [2]