智通财经网·2025-09-01 07:32Core Viewpoint - Bank of America Securities reported that GF Securities (01776) achieved a net profit of 6.5 billion RMB in the first half of the year, representing a year-on-year increase of 48%, outperforming the bank's expectations [1] Financial Performance - The second quarter profit increased by 31% year-on-year and by 35% quarter-on-quarter to 3.7 billion RMB [1] - Operating revenue grew by 34% year-on-year to 15.4 billion RMB, primarily driven by a 42% increase in brokerage commission income and a 51% increase in trading income [1] Forecast Adjustments - Bank of America raised its forecast for trading income and the average daily turnover of A-shares for the year to 1.4 trillion RMB, up from the previous estimate of 1.3 trillion RMB [1] - The earnings per share estimate for GF Securities was increased by 7% for the year [1] - The target price for H-shares was raised from 20.5 HKD to 21.1 HKD, while the target price for A-shares was adjusted from 24.3 RMB to 25.1 RMB, maintaining a "Buy" rating [1]