Guosen Securities(SZ:002736) 中国基金报·2025-08-07 14:59Core Viewpoint - Guosen Securities is undergoing significant branch closures as part of its strategy to optimize operations and enhance customer service, with a total of 12 branches being shut down recently, following the closure of 9 branches announced last month [2][3][4]. Summary by Sections Branch Closures - Guosen Securities announced the closure of 12 branches, including locations in Jilin, Foshan, Qingdao, and Xiamen, effective September 5 [2]. - This follows a previous announcement to close 9 branches starting August 1, 2025 [3]. - Some of the closed branches are being relocated to local subsidiaries or other branches [4]. Industry Trends - A total of 68 branches have been closed across the industry this year, indicating a trend among brokerages to consolidate their branch networks [5][6]. - The closures are primarily aimed at optimizing regional layouts, reducing costs, and transitioning towards wealth management services [7]. Financial Performance - Guosen Securities has experienced a significant decline in revenue, with net profit in 2023 being approximately 60% of that in 2021 [9]. - The company has reduced its number of branches from 263 in 2022 to 238 in 2023, with further reductions planned [10]. - The user base for Guosen's mobile trading platform has grown from 12.8 million in 2019 to 29 million in 2024, reflecting a compound annual growth rate of 18% [10]. - The company expects net profit for the first half of 2025 to be between 4.78 billion and 5.53 billion yuan, representing a year-on-year growth of 52% to 76% [12]. Business Strategy - Guosen Securities is focusing on enhancing its online and offline customer acquisition and service capabilities, with a strong emphasis on wealth management and high-net-worth client services [13].