Guosen Securities(SZ:002736) Zhong Guo Ji Jin Bao·2025-08-07 15:05Group 1 - Guosen Securities announced the closure of 12 branches, including locations in Jilin and Foshan, effective September 5 [1] - In August, Guosen Securities had already announced the closure of 9 branches, indicating a trend of branch consolidation [2] - The company stated that these adjustments are part of normal operational measures to enhance customer service and optimize its service network [2] Group 2 - A total of 68 branches have been closed across the industry this year, with several firms, including Guosen Securities, making similar announcements [3] - The closures are primarily aimed at optimizing regional layouts, reducing costs, and transitioning towards wealth management [3] - The brokerage industry is facing declining commission rates, prompting firms to either reduce costs through operational efficiencies or shift focus to wealth management and high-net-worth clients [3] Group 3 - Guosen Securities has seen a significant decline in revenue, with net profit in 2023 being approximately 60% of that in 2021 [4] - The company has reduced its number of branches from 263 in 2022 to 238 in 2023, with further reductions planned [5] - By the end of 2024, Guosen Securities aims to operate 230 branches, with a further decrease to 223 by Q1 2025 [5] Group 4 - The user base for Guosen Securities' mobile trading platform has grown from 12.8 million in 2019 to 29 million in 2024, reflecting a compound annual growth rate of 18% [7] - The company's net profit is projected to reach between 4.78 billion and 5.53 billion in the first half of 2025, representing a year-on-year growth of 52% to 76% [10] - Guosen Securities has demonstrated strong performance in its wealth management and institutional business segments, with a profit margin of 46% in 2024 [10]