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研报掘金丨中原证券：国泰君安经营稳健、各项业务均衡，维持“增持”评级

Research Report Nuggets丨Zhongyuan Securities: Cathay Pacific Junan operates steadily, balances all businesses, and maintains an “increase in holdings” rating

Gelonghui Finance ·  Apr 9 03:50

According to the Zhongyuan Securities Research Report, in 2023, the share of net revenue and investment income (including changes in fair value) from the asset management business of Cathay Pacific Junan (601211.SH) increased, and the share of brokerage, investment banking, interest, and other revenue declined. The overall growth of the company's institutional clients led to a decline in net brokerage fee revenue that was superior to that of comparable brokerage firms; proprietary business was determined to be low-risk, non-directional transformation, and investment returns (including changes in fair value) picked up markedly; and international business improved markedly. The company's operation is steady and the various businesses are balanced, and the continuous expansion of the institutional brokerage and trading customer demand business will further enhance the company's performance resilience. Maintain an “increase in holdings” investment rating.

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