Ge Long Hui·2025-10-10 05:33Core Viewpoint - Bank of America Securities forecasts that mainland brokers will see an average net profit growth of 9% quarter-on-quarter and 21% year-on-year by Q3 2025, driven by strong growth in brokerage fees and potentially exceeding expectations in stock trading revenue [1] Group 1: Profit Growth Expectations - Net profit for China International Capital Corporation (CICC) and CITIC Securities is expected to lead the industry, with year-on-year growth estimates of 258% and 116% respectively for Q3 [1] - Bank of America Securities has raised its earnings forecast for brokerage stocks for 2025 to 2026 by 0% to 13%, anticipating an average profit growth of 30% for major listed brokers during this period [1] Group 2: Market Activity and Liquidity - The average daily trading volume for A-shares is projected to increase by 14% to 18%, estimated at 1.6 trillion to 1.7 trillion yuan [1] - Continued market liquidity is expected to support market growth, with key catalysts including the Fourth Plenary Session, the 15th Five-Year Plan, and potential regulatory easing [1] Group 3: Preferred Stocks - The preferred stocks identified by Bank of America Securities include CICC, CITIC Securities, and GF Securities, with strong profit growth and improving return on equity anticipated for the fiscal years 2025 to 2026 [1]