The decline in Chinese brokerage stocks widened in the afternoon. As of press release, CITIC Securities (06030) fell 3.94% to HK$13.18; China Union Securities (01456) fell 4.18% to HK$3.44; CICC (03908) fell 3.44% to HK$9.55; and GF Securities (01776) fell 2.36% to HK$8.29.
The Zhitong Finance App learned that the decline in Chinese brokerage stocks increased in the afternoon. As of press release, CITIC Securities (06030) fell 3.94% to HK$13.18; League of Nations Securities (01456) fell 4.18% to HK$3.44; CICC (03908) fell 3.44% to HK$9.55; GF Securities (01776) fell 2.36% to HK$8.29.
Zheshang Securities pointed out that the annual revenue and net profit of listed brokerage firms are expected to increase by 2%/5% year on year. Among them, the 24Q1 performance growth rate is at a low point due to factors such as the fact that policies have not been tightened for the same period last year and the profit effect is strong. The revenue and net profit of 24Q1 listed brokerage firms are expected to drop 10% year-on-year, while net income from brokerage, investment banks, asset management, interest, and investment is -6%/-30%/+2%/-8%/-20%, respectively.
China Aviation Securities pointed out that overall, the overall regulatory environment for the industry will become stricter and tighter for some time to come, and combined with the performance of the secondary market, investment banking and other businesses may continue to be restricted. However, in the long run, raising the listing threshold, strengthening information disclosure checks and penalties, and strengthening supervision of brokerage firms and other related financial institutions are all conducive to improving the quality of listed companies at the source, enhancing investor confidence, and contributing to the long-term development of brokerage firms.