Zheng Quan Shi Bao·2025-12-15 22:05Core Insights - The trading volume on the A-share market has significantly increased in 2025, with the total turnover on the "Dragon and Tiger List" exceeding 6 trillion yuan, marking a growth of over 65% compared to the entire year of 2024 [1] - The trading volume for 2025 is set to reach a historical high, surpassing the 3.67 trillion yuan recorded during the structural bull market in 2021 and the 4.52 trillion yuan during the comprehensive bull market in 2015 [1] Group 1: Trading Performance - As of December 15, 2025, the top 100 trading seats, excluding the Shanghai and Shenzhen Stock Connect and institutional seats, have recorded 62,000 instances on the list, with a cumulative trading volume of 2.1 trillion yuan, representing an approximate 48% increase from the entire year of 2024 [2] - The top three trading seats are all from the "Lhasa Team" under Dongfang Caifu Securities, with the first seat achieving 4,418 instances and a total trading volume of 1,229.34 billion yuan [2] - Kaiyuan Securities' Xi'an Xidajie trading seat has ranked fourth, with 2,907 instances and a trading volume of 1,076.46 billion yuan, showing significant growth from its previous year's performance [2] Group 2: Brokerage Rankings - In terms of comprehensive strength, Guotai Junan Securities, CITIC Securities, and Dongfang Caifu Securities lead the industry with 13, 9, and 7 trading seats in the top 100, respectively [4] - Guotai Junan Securities has shown particularly strong performance in 2025, with its 13 top trading seats achieving a total of 8,442 instances and a trading volume of 4,291.11 billion yuan [4] - The geographical distribution of top trading seats shows a concentration in Shanghai, with several seats also located in cities like Chengdu, Yichang, Nanjing, and Beijing [4] Group 3: Emerging Trends - Dongfang Caifu Securities has 7 trading seats in the top 100, with a total of 19,400 instances and a trading volume exceeding 510 billion yuan, leveraging its internet and fintech advantages to attract a large number of retail investors [5] - Huaxin Securities has maintained an active presence on the Dragon and Tiger List, with 7 trading seats achieving a total of 2,804 instances and a trading volume of 651.29 billion yuan [5] - Foreign brokerage firms are emerging as new forces, with several of their trading seats ranking high on the list, including UBS and Goldman Sachs [5] Group 4: Market Preferences - The trading seats consistently active on the Dragon and Tiger List exhibit distinct preferences for certain themes and stocks, with Dongfang Caifu's "Lhasa Team" favoring sectors like general equipment and computer software [7] - Kaiyuan Securities' Xi'an Xidajie trading seat shows a preference for general equipment and automotive sectors, with notable stocks including Sichuan Jinding and Nanfang Luji [7] - Goldman Sachs' Shanghai trading seat favors automotive, general equipment, and semiconductor sectors, with stocks like Nanfang Luji and Tianhe Magnetic Materials being prominent [7]