Securities firm's net profit continues to grow in 2025, with brokerage and proprietary trading businesses as the main drivers of growth.

As the 2025 annual reports of listed companies are gradually disclosed, the profitability of listed securities firms is also gradually becoming apparent. According to Wind data, as of April 6th, a total of 29 listed securities firms or their parent companies have disclosed their 2025 annual reports, accounting for nearly 60% of the total number of listed securities firms, with net profits attributable to shareholders showing positive growth. Eight listed securities firms have net profits attributable to shareholders exceeding 100 billion yuan, with CITIC Securities' net profit exceeding 30 billion yuan. In terms of core business performance, driven by the bullish market and active trading in 2025, both brokerage and proprietary trading revenue of securities firms have achieved high growth, becoming the main driver of overall performance growth, with some securities firms seeing high growth in investment banking revenue. Analysts believe that the trading activity in the domestic capital market continued to increase in 2025, the equity market gradually warmed up, driving the overall improvement of the securities firms' core business sectors. The securities sector is expected to see three positive changes in 2026, and performance exceeding expectations is worth looking forward to.