Sou Hu Cai Jing·2026-02-03 13:26Core Viewpoint - The performance forecasts of 26 listed securities firms indicate a rare "full house" situation, with all firms expecting year-on-year profit growth, driven primarily by wealth management and investment businesses [1] Group 1: Performance Highlights - Among the 26 firms, the net profit growth is expected across the board, with 22 firms providing specific reasons for their performance, highlighting wealth management as the core driver [1] - The leading firm, CITIC Securities, anticipates a net profit of 30.051 billion yuan for 2025, representing a 38.50% increase, making it the only firm projected to exceed 30 billion yuan [2] - Guotai Junan Securities, following its merger, expects a net profit between 27.533 billion and 28.006 billion yuan, with a staggering growth rate of 111% to 115% [3] Group 2: Notable Performers - Eight firms are projected to achieve over 100% year-on-year profit growth, with Tianfeng Securities leading at an expected increase of 520.7% to 722.7% [4] - Other notable performers include Xiangcai Securities and Guolian Minsheng Securities, both expecting profit growth of approximately four times, attributed to significant advancements in wealth management and business integration [4] - The overall positive outlook for the brokerage sector is supported by active market conditions and a recovery in investment banking, which are expected to drive substantial increases in brokerage and investment income [4]