Group 1 - Chinese brokerage stocks saw significant gains, with Guolian Minsheng up 6.95% to HKD 6.62, CITIC Securities up 4.91% to HKD 13.9, Huatai Securities up 4.47% to HKD 19.85, and CITIC Jiantou up 3.02% to HKD 29.32 [1] - As of August 11, 29 A-share listed brokerages disclosed their 2025 semi-annual performance forecasts, with 27 expecting profit increases and 2 turning losses into profits. Notably, 14 brokerages forecasted a net profit increase exceeding 100% for the first half of the year [1] - Founder Securities predicts a 27.8% year-on-year increase in the brokerage sector's main revenue for the first half of 2025, with a 60.8% increase in net profit attributable to shareholders. Excluding the negative goodwill impact from the merger of Guotai Junan and Haitong, the net profit growth is expected to be 48.0% [1] Group 2 - Donghai Securities highlights the gradual establishment of a multi-tiered capital market system aimed at enhancing the investment value of listed companies and returns for investors. Upcoming marginal relaxations in the financing market and further opening of interconnectivity may enhance the attractiveness of the capital market [1] - Recent disclosures of listed brokerages' interim performance indicate that overall profit growth in the first half of the year has exceeded expectations. The sustained high trading activity in the second half may further catalyze brokerage performance, emphasizing the investment opportunities arising from the interim report disclosure window [1]

中资券商股午前涨幅扩大，截至发稿，国联民生（601456）(01456)涨6.95%，报6.62港元；中信建投 （601066）证券(06066)涨4.91%，报13.9港元；华泰证券（601688）(06886)涨4.47%，报19.85港元；中 信证券（600030）(06030)涨3.02%，报29.32港元。 消息面上，数据显示，截至8月11日，共有29家A股上市券商披露了2025年半年度业绩预告，27家预 增，2家扭亏。其中，14家券商上半年归母净利润预增幅度超100%。方正证券（601901）预计，券商板 块2025年上半年主营收入同比增幅为27.8%，归母净利润同比增幅为60.8%；剔除国泰海通吸收合并负 商誉影响后，上半年券商板块归母净利润增幅为48.0%。 东海证券指出，多层次资本市场体系正逐步搭建完善，以提升上市公司投资价值和投资者回报为导向的 政策逐步落地，接下来对融资市场的边际放松和互联互通的进一步开放或许会逐步推出，进而提升资本 市场的吸引力。近期陆续披露的上市券商中报业绩表明上半年整体利润增长较为超预期，下半年持续高 涨的交投活跃度或将进一步催化券商业绩，重视中报披露窗口期带来的配 ...