Zheng Quan Shi Bao·2025-11-02 18:05Core Insights - As of the end of Q3 2025, securities firms have emerged as significant institutional investors in the A-share market, holding a total market value exceeding 66.6 billion yuan across 361 stocks [1][2]. Group 1: Securities Firms' Holdings - A total of 44 securities firms appeared in the top ten shareholders of 361 stocks, collectively holding 5.195 billion shares, corresponding to a market value exceeding 66.6 billion yuan [2]. - The most concentrated sectors for securities firms' holdings are hardware equipment and chemicals, with 41 and 33 stocks respectively, followed by pharmaceuticals and machinery with 26 and 20 stocks [2]. Group 2: New Entrances and Increases - In Q3, securities firms entered the top ten shareholders of 206 new stocks, primarily in the non-ferrous metals, pharmaceuticals, hardware equipment, and chemicals sectors [4]. - Notable new entries include Guotai Junan entering Postal Savings Bank with a holding value of 727 million yuan, and CITIC Securities entering Huayuan Ecology with a holding value of 344 million yuan [4]. Group 3: Increased Holdings - A total of 63 stocks saw increased holdings from securities firms in Q3, with Dongfang Securities increasing its stake in Inner Mongolia Electric Power by 21.94 million shares, resulting in a market value increase of over 88 million yuan [5]. - CITIC Securities increased its holdings in Northeast Securities by 7.86 million shares, leading to a market value increase of 134 million yuan [5]. Group 4: Proprietary Business Performance - Securities firms' proprietary business performance is closely linked to their stock holdings, with Huatai Securities holding the highest number of stocks at 50, followed by CITIC Securities and Guotai Junan with 39 and 36 respectively [6]. - In the first three quarters of the year, the total proprietary business income of listed securities firms reached 186.857 billion yuan, accounting for over 44% of their total revenue [6]. Group 5: Leading Firms in Proprietary Income - CITIC Securities led the proprietary income with 31.603 billion yuan, reflecting a year-on-year growth of approximately 46% [7]. - Guotai Junan ranked second with 20.37 billion yuan in proprietary income, showing a growth of over 90% [7].