Core Viewpoint - The performance of foreign-controlled securities firms in China for 2024 shows a significant divergence, with Goldman Sachs (China) Securities leading in revenue while several firms struggle to reach 500 million yuan in revenue [1][2]. Revenue Performance - Goldman Sachs (China) Securities reported revenue of 1.841 billion yuan, a year-on-year increase of 19.63% [2][5]. - UBS Securities followed with revenue of 1.047 billion yuan, while Morgan Stanley (China) Securities generated 375 million yuan [2]. - Six foreign securities firms reported revenues below 500 million yuan, including Morgan Stanley (China) (375 million yuan), Nomura Orient International Securities (139 million yuan), and others [2][5]. Profitability - Goldman Sachs (China) Securities achieved a net profit of 498 million yuan, a substantial increase of 158% year-on-year [5]. - Morgan Chase Securities (China) reported a net profit of 259 million yuan, up 117.22% [5]. - UBS Securities saw a net profit of 150 million yuan, with a remarkable increase of 693% [5]. - Five firms reported net losses, including Standard Chartered Securities (China) with a loss of 78 million yuan and Nomura Orient International Securities with a loss of 129 million yuan [5]. Business Segment Analysis - Goldman Sachs (China) Securities experienced significant growth in brokerage business, with net income from brokerage fees reaching 871 million yuan, a 57% increase [6]. - However, its investment banking business saw a drastic decline, with net income of only 477,500 yuan, down 97% [6]. - Morgan Chase Securities also reported strong performance in brokerage but faced challenges in investment banking, reflecting broader market conditions [7][8]. - Morgan Stanley Securities achieved profitability primarily through its investment banking segment, generating 1.23 billion yuan in net income from this area [8]. Market Trends - The overall performance of foreign securities firms indicates a trend of growth in brokerage services while facing challenges in investment banking [6][8]. - The high operational costs and initial expenses for new firms contribute to the financial struggles observed in several companies [5].