券商上半年分仓佣金收入榜揭晓 头部机构市场份额稳固但整体承压

Core Viewpoint - The brokerage commission income from split accounts has decreased significantly in the first half of 2025, with major firms facing pressure due to new regulations and increased competition in the industry [1] Group 1: Brokerage Performance - The top five brokerages by split account commission income are CITIC Securities, Guotai Junan, GF Securities, Changjiang Securities, and Huatai Securities, with a total income of 1.309 billion yuan, accounting for nearly 30% of the market share [1] - Compared to the same period last year, the commission income for these firms has declined to varying degrees [1] Group 2: Industry Trends - Overall, the brokerage industry's split account commission income has decreased by over 30% compared to the same period last year [1] - The implementation of new public fund trading commission regulations has put additional pressure on brokerage commission income, leading to intensified competition within the industry [1] Group 3: Strategic Responses - Some brokerages are responding to challenges by enhancing research capabilities, accelerating international expansion, and deepening industry think tank development [1] - Certain niche brokerages are achieving counter-cyclical growth in split account commission income through a collaborative empowerment model [1] - Different development strategies are being adopted by various brokerages in their research businesses [1]