从粗放式扩张转向集约化经营，券商分支机构破解经营困局

Core Viewpoint - The brokerage industry is transitioning from extensive expansion to intensive management, with over 20 brokerages closing more than 60 branches this year to address operational challenges and enhance efficiency through optimized network layouts and digital transformation [2][4]. Group 1: Transition from Extensive Expansion - Historically, brokerages adopted an expansion strategy focused on quantity over quality, leading to high customer acquisition costs and severe business homogenization [4]. - The traditional model's reliance on increasing branch numbers has resulted in diminishing returns as client needs evolve and the market becomes more competitive [4]. - In 2023, over 20 brokerages have closed more than 60 branches, including 8 subsidiaries and over 50 business offices, as part of a resource optimization strategy [4]. Group 2: Shift to Intensive Management - Intensive management has become a consensus among brokerages, involving the integration of resources across branches to enhance service efficiency and client engagement [6][7]. - The transformation includes redefining branch functions to focus on high-net-worth clients and utilizing technology to streamline service processes [7][8]. - Brokerages are moving towards a model that emphasizes wealth management income over commission-based revenue, with a focus on high-value services for core clients [8]. Group 3: Establishing Long-term Development Mechanisms - In the next 3 to 5 years, branches are expected to evolve into strategic hubs for market engagement and comprehensive financial solutions rather than mere transaction points [9][10]. - Brokerages are encouraged to shift from broad outreach to targeted engagement, leveraging technology to enhance service quality and employee capabilities [10][11]. - Recommendations include reallocating 10% of resources from low-efficiency branches to high-potential areas and reforming performance metrics to prioritize client retention and advisory service income [10][11].