证券板块配置价值进一步凸显

Core Viewpoint - The overall performance of listed securities firms in the first three quarters of the year has attracted significant market attention, with East Wu Securities being the first to announce a profit forecast indicating substantial year-on-year growth [1][2]. Company Performance - East Wu Securities expects a net profit attributable to shareholders of between 2.748 billion and 3.023 billion yuan for the first three quarters, representing an increase of 916 million to 1.191 billion yuan compared to the same period last year, with a year-on-year growth of 50% to 65% [1]. - The company's performance improvement is attributed to the optimization of its business structure and the precise implementation of its strategy, focusing on high-quality development and compliance risk control [1]. Industry Insights - Analysts believe that active market trading will provide strong support for the sustained performance of securities firms [2]. - The brokerage and proprietary trading businesses are identified as the "dual engines" driving the industry's profit growth, with projected net profits for the third quarter reaching 67.2 billion yuan, a year-on-year increase of 87% [2]. - The industry is expected to achieve a net profit of approximately 180 billion yuan for the first three quarters, reflecting a year-on-year growth rate of 55% [2]. - The annualized return on equity for the industry has risen to 7.7%, indicating a continued upward trend in industry prosperity [2].