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over 70% of listed securities firms saw a year-on-year decline in both revenue and net profit, with proprietary business becoming the main force behind performance growth

2024-09-02

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the disclosure of the interim reports of listed securities companies has come to an end. the overall performance of 43 listed securities companies in the first half of the year continued to decline year-on-year, and more than 70% of them saw a year-on-year decline in both revenue and net profit. however, the performance has clearly rebounded month-on-month (relative to the second half of last year), including many leading securities companies, and 80% have achieved a month-on-month increase in net profit.

in the first half of this year, 43 listed securities companies achieved a total revenue of 235 billion yuan, a year-on-year decrease of 12.69% and a month-on-month increase of 3.12%; and achieved a net profit attributable to shareholders of 63.961 billion yuan, a year-on-year decrease of 21.92% and a month-on-month increase of 37.06%.

among them, 35 securities firms achieved a month-on-month increase in net profit. among the top ten securities firms in terms of revenue scale, eight achieved a month-on-month increase in net profit or turned losses into profits, with only huatai securities and cicc declining by about 14% month-on-month.

in terms of main business income, the brokerage and investment banking business income of 43 listed securities companies continued to decline year-on-year in the first half of the year, and asset management and proprietary business were the main forces of performance growth. among them, the overall proprietary income increased by 46.29% month-on-month, and 7 of the top ten securities companies in terms of revenue achieved month-on-month growth.

at the same time, some securities firms have achieved results in reducing costs and increasing efficiency. the overall operating expenses of 43 listed securities firms decreased by 4.27% year-on-year and 10.56% month-on-month. the operating costs of many securities firms, including haitong securities and cicc, decreased by more than 20% year-on-year.

the performance of many leading securities firms rebounded month-on-month

in the first half of the year, among the top ten securities firms in terms of revenue, the number of securities firms with a scale of over 10 billion yuan was reduced to 6, and the income gap among the leading securities firms further widened.