| | | 上市券商从业人 | 数变化 | | | --- | --- | --- | --- | --- | | 证券名称 | 2025.1.1 | 2025.6.30 | 壇減(人 | 目比 | | 国泰海通 | 11346 | 18654 | 7308 | 39.18% | | 中信证券 | 14216 | 13815 | -401 | -2.90% | | 中信建投 | 11350 | 11013 | -337 | -3.06% | | 中国银河 | 11248 | 11004 | -244 | -2.22% | | 广发证券 | 10790 | 10485 | -305 | -2.91% | | 国信证券 | 9924 | 9503 | -421 | -4.43% | | 华泰证券 | a287 | a203 | -78 | -0.82% | | 招商证券 | 8987 | 8906 | -81 | -0.91% | | 中泰证券 | 8314 | 8184 | -130 | -1.59% | | 方正证券 | 7618 | 7511 | -107 | -1.42% | | 兴亦证券 | 7742 ...

Core Insights - The securities industry is experiencing accelerated personnel turnover and structural changes as of the first half of 2025, with a total of 323,900 practitioners, a decrease of 6,870 or 2.12% from the beginning of the year [1] Personnel Changes - The number of general securities business personnel decreased by 5,521, a decline of 2.74% - Securities sponsors saw a reduction of 330, marking a 3.90% drop - Securities brokers experienced a decrease of 2,264, which is an 8.75% decline - Conversely, investment advisors increased by 1,264, reflecting a growth of 1.55% - The number of securities analysts rose by 50, indicating a 0.89% increase [1] Firm-Specific Changes - Among 42 listed securities firms, 35 reported a reduction in employee numbers, representing 83.33% of the firms - Major firms like Guotai Junan, CITIC Securities, CITIC Jianan, and GF Securities saw significant reductions of 421, 401, 337, and 305 employees respectively - Smaller firms, while having lower absolute reductions, exhibited substantial percentage declines, with Tianfeng Securities experiencing a reduction of over 5%, specifically 6.36% [1] Detailed Personnel Data - The following firms reported notable changes in employee numbers from January 1, 2025, to June 30, 2025: - Guotai Haitong: Increased by 7,308 (39.18%) - CITIC Securities: Decreased by 401 (-2.90%) - CITIC Jianan: Decreased by 337 (-3.06%) - China Galaxy: Decreased by 244 (-2.22%) - GF Securities: Decreased by 305 (-2.91%) - Guoxin Securities: Decreased by 421 (-4.43%) [2] Investment Advisor Changes - Specific reductions in investment advisors included: - Industrial Securities: Decreased by 40 - CITIC Securities: Decreased by 32 - Guoxin Securities: Decreased by 19 - Caitong Securities: Decreased by 12 [3] Securities Sponsor Changes - The total number of securities sponsors decreased by over 300, marking the first decline in three years - Notable reductions included: - Oriental Securities: Decreased by 35 (16.83%) - Dongxing Securities: Decreased by 33 (14.77%) [4] Analyst Changes - A total of 16 listed securities firms had more than 100 analysts as of mid-2025 - The leading firm, Zhongjin Company, had 340 analysts, followed by Guotai Junan (287) and CITIC Securities (268) - However, firms like CITIC Jianan, GF Securities, and others experienced varying degrees of analyst reductions [5]