CITIC Securities Co., Ltd.(SH:600030) Sou Hu Cai Jing·2025-09-02 09:53Market Overview - On September 2, the market experienced fluctuations, with the Shanghai Composite Index nearing the flat line in the afternoon, while the ChiNext Index dropped nearly 4% during the day, resulting in poor profitability for over 4,000 stocks [1] - The securities sector faced another round of decline, with the leading Securities ETF (560090) falling by 0.92%, while funds continued to invest over 76 million yuan during the two-day drop [1] Securities Sector Performance - Most component stocks of the Securities ETF (560090) declined, with Dongfang ZhiHui down 2.93%, and major firms like CITIC Securities and GF Securities dropping over 1%. However, Pacific Securities briefly hit the daily limit before closing up 6.05% [3] - As of 15:00, the new account data from the Shanghai Stock Exchange revealed that 2.6503 million new accounts were opened in August, a 34.97% increase from July and a 165.21% increase year-on-year, significantly surpassing last year's figures [4] Financial Performance of Securities Firms - The mid-year reports from securities firms showed a strong recovery in performance, with 42 listed securities firms achieving a total net profit of 104.017 billion yuan in the first half of 2025, a year-on-year increase of 65.08% [4] - The growth in profits was primarily driven by proprietary trading and brokerage services, with proprietary trading assets increasing by 20.227 billion yuan, a 3.1% rise from the end of 2024 [4] Trading and Investment Activities - The average daily trading volume from January to June reached 1.3902 trillion yuan, reflecting a year-on-year growth of 61.14%, with the second quarter showing a 51.99% increase [6] - The market for refinancing saw significant growth, with a total of 6,763.87 billion yuan raised through refinancing in the first half of 2025, marking a year-on-year increase of 704.33% [6] Future Outlook - The securities industry is expected to demonstrate further performance elasticity in the second half of 2025, supported by high trading volumes and a normalization of equity financing, alongside a recovery in the capital market [7] - The industry valuation is anticipated to recover as capital market reforms progress and macro liquidity improves, suggesting a favorable environment for investment in leading securities firms [7]