Core Insights - In September 2023, the number of new A-share accounts opened on the Shanghai Stock Exchange reached 2.9372 million, marking a 10.83% increase from August and a 60.73% increase year-on-year [1][4][2] - The total number of new A-share accounts for the first three quarters of 2023 reached 20.1489 million, a 49.64% increase compared to the same period last year [2][6] New Account Opening Trends - September's new account openings were the second highest of the year, only behind March's 3.0655 million [1][4] - Of the 2.9372 million new accounts in September, 2.9263 million were individual accounts and 10,900 were institutional accounts, marking the first time institutional accounts surpassed 10,000 this year [4][6] Market Performance - The A-share market showed positive performance in September, with all three major indices closing higher; the ChiNext Index rose over 12% [4][9] - As of September 30, the Shanghai Composite Index was at 3,882.78 points, up 0.64% for the month, while the Shenzhen Component Index and ChiNext Index saw increases of 6.54% and 12.04%, respectively [9] Investor Behavior and Market Dynamics - The recent surge in new account openings is closely linked to the active market performance in September [9] - A leading brokerage noted that while trading activity has increased, the pace of new account openings and capital inflow remains rational, indicating a growing demand for professional advisory services and risk management tools [6][7] Brokerage Industry Outlook - The brokerage industry is expected to perform well in the third quarter, with significant increases in daily trading volumes and margin financing balances [9][10] - Dongguan Securities projected a revenue increase of 44.93% to 60.18% and a net profit increase of 77.77% to 96.48% for the first nine months of 2023, attributed to the upward trend in the A-share market [10]

Core Viewpoint - In August 2025, the number of new individual investor accounts in A-shares reached 2.6503 million, marking a year-on-year increase of 165% and a month-on-month increase of 34.97% compared to July 2025 [2][4][5]. Summary by Sections New Account Data - The total number of new accounts in August 2025 was 2.8337 million, with individual investors accounting for 2.6404 million and institutional investors for 0.0997 million [5]. - Compared to August 2024, when there were 1.00 million new accounts, the increase in August 2025 was significant at 165% [5]. - Monthly comparisons show that the new account numbers fluctuated throughout the year, with January 2025 at 1.5737 million, February at 3.1377 million, and a peak in March at 3.4853 million [3][5]. Market Activity - The A-share market experienced strong performance in August 2025, with the Shanghai Composite Index rising by 7.97%, the Shenzhen Component Index by 15.32%, and the ChiNext Index by 24.13% [8]. - Increased market activity led to heightened investor enthusiasm, contributing to the surge in new account openings [8]. Brokerage Strategies - Brokerages have intensified their customer acquisition efforts, transitioning from self-owned channels to third-party platforms to capture new market segments [9]. - Notable growth in new customer accounts was reported by several brokerages, with CITIC Securities adding 830,800 new clients in the first half of 2025, a 12.98% increase year-on-year [9]. - Other firms, such as Shenwan Hongyuan and China Merchants Securities, also reported significant increases in new customer accounts and assets under management [9].