Nan Fang Du Shi Bao·2025-08-01 05:05Core Viewpoint - The majority of the 26 listed securities firms have reported significant profit growth for the first half of 2025, with some firms achieving tenfold increases in net profit, indicating a strong recovery in the sector [2][3][5]. Group 1: Performance Highlights - Huaxi Securities expects a net profit of 4.45 billion to 5.75 billion RMB, representing a year-on-year increase of 1025.19% to 1353.90% [5][6]. - Guolian Minsheng anticipates a net profit of 11.29 billion RMB, marking an increase of approximately 1183% compared to the previous year [5][6]. - Among the 26 firms, Guotai Haitong stands out with an expected net profit between 152.83 billion and 159.57 billion RMB, significantly higher than its competitors [3][4]. Group 2: Sector Growth Drivers - The overall net profit growth for the securities sector is attributed to increased trading activity, regulatory optimization, and supply-side reforms, which enhance long-term growth potential and investment value [8][9]. - The sector's main revenue sources, including proprietary trading, brokerage, and investment banking, have shown substantial year-on-year increases, contributing to the overall performance [7][8]. - The integration of Guolian Minsheng with Minsheng Securities has also played a role in boosting its financial results, alongside a general recovery in various business lines [6][8]. Group 3: Market Outlook - Analysts predict a dual boost in valuation and profitability for securities stocks, driven by increased market activity and improved operational efficiency within firms [8][9]. - The recent approval of virtual asset trading licenses for firms like Guotai Junan International is expected to further stimulate interest and investment in the securities sector [9].