Nearly 70% of listed securities firms saw both revenue and net profit double in the first quarter.

In 2025, the performance of listed securities firms was impressive, with over 90% achieving year-on-year net profit growth, and 7 securities firms surpassing a net profit of over 10 billion yuan. Benefiting from both brokerage and proprietary businesses, as well as a simultaneous recovery in investment banking and asset management business, the industry's comprehensive recovery trend is clear. In the first quarter of 2026, nearly 70% of listed securities firms continued the trend of revenue and net profit growth. Data from East Money Choice shows that 16 listed securities firms had operating income exceeding 10 billion yuan in 2025. Among them, CITIC Securities and Guotai Junan Securities led with operating income of 74.854 billion yuan and 63.107 billion yuan respectively; Huatai Securities and GF Securities both ranked third and fourth with over 35 billion yuan in operating income; CICC, China Galaxy, CMB Securities, and Shenwan Hongyuan Securities had operating income exceeding 20 billion yuan. In terms of net profit attributable to shareholders, a total of 7 listed securities firms had net profits exceeding 10 billion yuan. CITIC Securities and Guotai Junan Securities maintained their leading positions with net profits of 30.076 billion yuan and 27.809 billion yuan respectively, while Huatai Securities ranked third with net profits exceeding 16 billion yuan. GF Securities, China Galaxy, CMB Securities, and Guosen Securities also had net profits exceeding 10 billion yuan. However, despite the impressive performance, the market performance of the securities sector diverged significantly, with the holding ratio of public funds in the securities sector falling to 0.38% in the first quarter. Many securities analysts believe that the current valuation of the securities sector is at a historical low, and with the industry's fundamentals continuing to improve, the opportunity for investment has become apparent.