券商中国·2025-10-25 15:40Core Viewpoint - The latest evaluation results of securities firms' professional quality reveal significant changes in rankings, with Guojin Securities taking the top spot, indicating a shift in competitive dynamics within the industry [1][2]. Group 1: Evaluation Results - A total of 103 securities firms participated in the third quarter evaluation, with the scoring based on professional service quality, compliance quality, and other influential factors [2]. - The top ten rankings saw a major reshuffle, with only four firms maintaining their positions from the previous quarter, while six new firms entered the top ten [2][4]. - Notable improvements were seen in the rankings of Northeast Securities (from 29th to 2nd), Zheshang Securities (from 65th to 6th), and Minsheng Securities (from 97th to 7th) [2][4]. Group 2: Business Performance - The evaluation results indicate a divergence in the strengths of large and small securities firms, with large firms excelling in brokerage and market-making, while smaller firms are more active in research [1][6]. - The top five firms in market-making for the Beijing Stock Exchange were dominated by large firms, while the New Third Board market-making was led by smaller firms [6]. - In brokerage services, large firms like Dongfang Caifu and Huatai Securities performed significantly well, while smaller firms excelled in research services [6]. Group 3: Compliance Quality - Guojin Securities had the highest compliance quality deductions but still ranked first overall due to strong performance in underwriting and advisory services [7]. - The firms with the most compliance quality deductions included Guojin Securities, CITIC Securities, and Zhongjin Securities, primarily due to issues in their underwriting and advisory services for the Beijing Stock Exchange and New Third Board [7].