Zheng Quan Shi Bao·2025-08-29 22:45Core Insights - The performance of listed securities firms in the first half of the year has shown significant growth, driven by a combination of low base effects from the previous year and a recovery in the stock market [2][3] Group 1: Financial Performance - A total of 10 securities firms achieved revenue exceeding 10 billion yuan, with CITIC Securities leading at 33.04 billion yuan, followed by Guotai Junan at 23.87 billion yuan [3] - Nine firms reported a net profit growth of over 100%, with Huaxi Securities and Guolian Minsheng achieving increases of 1195% and 1185% respectively, largely due to low base effects from the previous year [3][4] - Six firms set historical records for their performance in the first half of the year, including CITIC Securities with a net profit of 13.72 billion yuan, a year-on-year increase of 29.8% [4] Group 2: Self-Operated Business - The high growth in securities firms' performance is closely linked to self-operated business income, with 36 firms reporting year-on-year growth in this area [5] - CITIC Securities led self-operated income at 19.05 billion yuan, a year-on-year increase of 62.42%, followed by Guotai Junan and China Galaxy [5] - Several firms reported significant increases in self-operated income, with Changjiang Securities achieving over sixfold growth [5] Group 3: Brokerage Business - All listed securities firms experienced growth in brokerage fee income, with CITIC Securities at 6.40 billion yuan and Guotai Junan at 5.73 billion yuan [6] - New customer acquisition has been strong, with CITIC Jiantou reporting an increase of 829,000 new clients, a year-on-year growth of 12.98% [6] - Financial product distribution and advisory services have also seen substantial growth, with various firms reporting significant increases in fund management and advisory scales [6]