Listed securities firms' brokerage income in the first half of the year increased by more than 50%, highlighting the industry's "Matthew Effect".

Benefiting from the significant rebound in market trading activity, securities firms' wealth management business is showing a positive development trend. In the first half of 2025, the total revenue of securities brokerage business of 42 A-share listed securities firms reached 74.545 billion yuan, a significant year-on-year increase of 50.69%. Compared with the same period last year, securities firms achieved positive growth in this business, injecting strong momentum into performance improvement. Shanghai Securities News reporters' analysis found that in the first half of the year, the securities firms' wealth management business showed four main features: first, the "Matthew Effect" intensified, with obvious concentration among top players; second, the income structure is still dominated by traditional trading business, with revenue from selling financial products growing by over 30%; third, market attractiveness is increasing, with a surge in new account openings and client asset size; fourth, the transformation of buyer-side financial advisory services is deepening, and new formats are gradually emerging.