Hong Kong stock concept tracking | The number of new A-share margin finance and securities account openings in January increased by 157% year-on-year. Valuation repair of Chinese securities firms can be expected (with concept stocks attached)

A-share brokerage margin trading business welcomed a "good start". The latest data shows that in January 2026, the number of new accounts opened for margin trading reached 190,500, an increase of 29.5% compared to the previous month, and a significant increase of 157% year-on-year. Wind data shows that as of January 30th when the article was written, 21 listed securities firms disclosed their 2025 performance forecasts or performance reports. Leading securities firms such as CITIC SEC and Guotai Haitong continued to consolidate their market leading positions, with CITIC SEC's 2025 net profit exceeding 30 billion yuan, and Guotai Haitong expected to achieve a year-on-year net profit growth rate of over 100% in 2025. Smaller securities firms have greater performance flexibility, with Guolian Minsheng expecting a net profit growth rate of over 400% in 2025. Brokerage business and proprietary trading have become the core drivers for the 2025 performance growth of the above-mentioned listed securities firms. Industry insiders believe that the active A-share market in 2025 and the high level of prosperity in the securities industry are expected to continue, and suggest paying attention to investment opportunities in the securities sector brought about by improved performance. The increased market activity and synchronized policy countercyclical adjustments have pushed margin trading balances to historically high levels, with institutions generally optimistic about the boost in securities performance. According to a research report from China Securities Co.,Ltd., the net profit of listed securities firms in 2025 has generally achieved high growth, mainly benefiting from year-on-year increases in daily trading volume and the maintenance of high margin trading balances, with many securities firms achieving net profit growth rates of over 70%. At the same time, the implementation of reserve cuts, interest rate cuts, and long-term capital market entry plans have opened up capital space for high-quality securities firms, and the effects of mergers and acquisitions have been significant. At the macroeconomic level, the economy has successfully achieved its 5% growth target, market activity has reached a ten-year high, providing solid support for performance. The PB valuation of the sector is currently only 1.36 times, at a historically medium level, and improved performance and policy dividends are expected to drive valuation up. Hong Kong stocks related to Chinese brokerage concepts include: Huatai (06886), GF SEC (01776), China Galaxy (06881), Guotai Haitong (02611), CICC (03908), CITIC SEC (06030), China Securities Co., Ltd. (06066), Orient (03958), EB SECURITIES (06178), Shenwan Hongyuan Group (06806), CC SECURITIES (01375), Guolian Minsheng (01456), etc.