The net profit of 90 % of the listed securities firms declined, but the two brokers achieved double increase in net profit in revenue.

The intermediate report season is nearly ended, and the entire business of the securities industry has gradually clearer the whole year. In the context of the market fluctuations, the performance of listed brokers is collectively "stunned", and the leader is difficult to escape the fate of decline.

As of August 27, 23 listed brokers have disclosed the half -annual report in 2022, of which only 5 brokerage including Zhejiang Business Securities and Soochow Securities have achieved positive growth in revenue year -on -year. The net profit fell year -on -year, and the proportion of nearly 90 % of Hua'an Securities, Guolian Securities, and Founder Securities were growing positively.

Guotai Junan temporarily ranked first in the performance list. In the first half of the year, he achieved revenue of 19.554 billion yuan, and net profit attributable to his mother was 6.373 billion yuan. Including it, there are currently 3 brokerage firms with more than 10 billion yuan, Hyon Securities is 12.104 billion yuan, and China Merchants Securities is 10.621 billion yuan. Although the performance ranked among the top, the above three revenue and net profit declined year -on -year, and the net profit of Haitong Securities dropped by more than 40 %.

The industry's performance was bleak, but some small and medium -sized brokers increased against the trend. Guolian Securities (601456.SH) and Hua'an Securities (600909.SH) realized net profit in revenue.

In the first half of 2022, the global economic uncertainty increased, the capital market was turbulent, and A shares were suppressed first. In this context, the self -operated business of "watching the sky" is weak, and it has become a drag on the performance of securities firms.

The leader's performance is under pressure, and the Central Plains Securities loses

In the first quarter of this year, due to market fluctuations affected the universal performance of securities companies, it was already reflected in the first quarter report. The performance in the second quarter was recovered, but it still failed to reverse the overall decline in the first half of the year.

Wind data shows that the 23 listed brokers currently disclosed in the central report have achieved a total of 102.493 billion yuan in revenue and a net profit of 30.205 billion yuan.

Of the 23 brokerage firms, in the first half of the year, the revenue decreased by more than 20 % year -on -year, accounting for more than 40 %; the net profit of returned mother decreased by more than 20 % year -on -year, accounting for nearly 70 %.

However, in the industry rankings, leading brokers still maintain their leading advantages.

At present, the top five revenue of listed brokers in the first half of this year are: Guotai Junan 19.554 billion yuan (-10.79%), Haitong Securities 12.104 billion yuan (-48.43%), China Merchants Securities 10.621 billion yuan (-25.95%), Guoxin Securities 8.306 billion yuan Yuan (-19.52%) and Zhejiang Business Securities 7.463 billion yuan (4.7%).

The top five of the net profit of home-to-mother is: Guotai Junan 6.373 billion yuan (-20.47%), Haitong Securities 4.758 billion yuan (-41.77%), China Merchants Securities 4.288 billion yuan (-25.36%), Guoxin Securities 3.207 billion yuan (-33.05% ), Everbright Securities 2.108 billion yuan (-6.84%).

In the first half of this year, the revenue and net profit of leading brokers declined. The decline is Haitong Securities. Both revenue and mother's net profit of this year fell by more than 40 %.

There are 9 brokerage companies with operating income from 2 billion to 5 billion yuan. Among them, Zhongtai Securities is 5014 billion yuan, Soochow Securities is 4.301 billion yuan, and Founder Securities, Changjiang Securities, and Western Securities are also.

Eight revenue in the first half of Dongxing Securities, Huaxi Securities, and Guohai Securities were less than 2 billion yuan in the first half of the year. Among them, Zhongyuan Securities and Hualin Securities revenue was less than 1 billion yuan.

Zhongyuan Securities is currently the only loser broker. In the first half of the year, revenue was 788 million yuan, a year-on-year decrease of 66.28%; net profit attributable to the mother was -125 million yuan, a year-on-year decrease of 154.79%.

The self -operated business "Waterloo" drags the overall performance

In the first half of this year, the overall decline in the performance of the securities industry has become a set.

According to the "Securities Company's Operation Data in the First Half of 2022" recently released by the China Securities Industry Association, 140 securities companies realized operating income of 205.919 billion yuan in the first half of this year, and net profit was 81195 billion yuan. 115 securities companies achieved profitability.

In the same period last year, according to the statistics of the China Securities Association, securities companies realized operating income of 232.414 billion yuan, realized net profit of 90.279 billion yuan, and 125 securities companies achieved profitability. Based on this calculation, in the first half of this year, the revenue of the securities industry fell 11.4%year -on -year, the net profit fell 10.06%, and the number of profitable companies decreased by 10.

At present, the industry leader "Three Middle Schools and One Hua" (CITIC Securities, CICC, CITIC Investment, and Huatai Securities) have not disclosed the semi -annual report. Some securities firms non -silver analysts previously told reporters that the overall performance of the semi -annual report of the brokerage firms, but it is expected that the performance of the leading brokers is still better than the industry as a whole.

Judging from the disclosed situation, self -employment and brokerage business is a dragging factor for the decline in the performance of securities firms.

A -share love has always been a barometer for brokerage performance. Public data shows that in the first half of this year, the A -share market was suppressed first, and the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, and the GEM index fell 6.63%, 13.2%, and 15.41%, respectively.

The market fluctuated, and the self -operated business of securities firms was "Waterloo". Some securities firms have decreased their own income and even suffered losses.

Guoyuan Securities (000728.SZ) achieved operating income of 2.446 billion yuan in the first half of the year, an increase of 7.49%year -on -year. It is one of the few brokerage companies with increasing revenue. However, the net profit was still dragged. During the above time, the company was 748 million yuan, a year -on -year decrease of 11.57%. Among them, self -operated business revenue was 149 million yuan, a year -on -year decrease of 74.53%.

The first entrepreneurial (002797.SZ) interim report shows that in the first half of 2022, the company's own investment and trading business revenue -666.936 million. The company's self -operated investment and trading business is mainly investment in equity securities, investment in equity derivatives, and New Third Board to do the market. According to the company, in the first half of 2022, the high prosperity and profit -making industries and sectors were dynamically configured, and various types of derivative tools were used to optimize the positioning structure and strengthened risk management. During the reporting period, in a large fluctuating market environment, self -investment and trading business effectively controlled risks.

The performance growth is weak, the main business is under pressure, and the performance of securities firms has worried the market. However, some views believe that from the quarter performance, the second quarter performance of the brokerage firms has shown signs of recovery, and it is expected that it is expected to go out of the trough in the second half of the year.

According to the calculation of Xingye Securities, from the disclosed interim report and performance express, the performance of small and medium-sized brokerage firms has narrowed to 50-80%, and some large and medium-sized brokers' performance decreased to less than 20%. Essence

Some analysts pointed out that under the market in the second quarter, the performance of the brokerage firms rebounded rapidly. Although it was still less than the same period last year, the signs of warming were obvious in the first quarter of last year. It is expected that on the basis of the overall market in the second half of the year, the major securities company's achievements will continue to strengthen and gradually go out of the trough brought about by the first quarter.

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