Guosen Securities(SZ:002736) 21世纪经济报道·2025-08-07 08:40Core Viewpoint - Guosen Securities is undergoing a significant reduction in its offline presence by closing 12 branches, indicating a strategic shift towards online operations and cost management in response to industry pressures [1][2][4]. Group 1: Company Actions - Guosen Securities announced the closure of 12 branches starting September 5, covering cities like Changzhi, Qingdao, and Xiamen, marking its third round of branch reductions [1][2]. - The company has been actively reducing its offline network, with the number of securities and futures branches decreasing from 263 in 2022 to a projected 223 by the end of Q1 2025 [3]. - The workforce at Guosen Securities has also seen a significant reduction, with current employee numbers reported at 9,372, down from over 10,000 at the end of 2024 [3]. Group 2: Financial Performance - Despite the branch closures, Guosen Securities reported strong financial performance, with 2024 revenues of 20.167 billion yuan, a year-on-year increase of 16.46%, and a net profit of 8.217 billion yuan, up 27.84% [3]. - In Q1 2025, the company achieved revenues of 5.282 billion yuan, a substantial year-on-year increase of 57.10%, with a net profit of 2.329 billion yuan, reflecting a growth of 89.52% [3]. Group 3: Industry Context - The trend of closing branches is not unique to Guosen Securities; numerous other securities firms, including Everbright Securities and CITIC Securities, have also reduced their branch networks significantly in 2024 [4]. - The shift towards online operations is driven by the rapid development of internet and financial technology, which has diminished the role of physical branches, while high rental and labor costs remain a concern [4]. - The future of brokerage branch networks is expected to be more concentrated and strategic, focusing on economically developed areas and regions with high financial activity to attract high-net-worth and institutional clients [4].