Sinolink International: Initiated China Taiping Securities (06886.HK) with a "buy" rating, brokerage business continues to grow.

Judgment Financial APP learned that CICC International released a research report stating that the wealth management and institutional services are releasing development momentum, and they are optimistic about Haitong Securities (06886.HK) using technology to empower its full-license business to create long-term performance advantages. The bank expects the company's net profit attributable to shareholders to be 13.837 billion and 15.497 billion in 2025 and 2026 respectively, and initiated a "hold" rating for the first time. Haitong Securities released its 2025 interim report, achieving operating income and net profit attributable to shareholders of 16.219 billion and 7.549 billion respectively during the reporting period, an increase of +31.0% and +42.2% year-on-year; with Q2 achieving operating income and net profit attributable to shareholders of 7.987 billion and 3.907 billion; the weighted average ROE increased by +1.12 percentage points year-on-year to 4.3%, and excluding customer funds, the operating leverage increased by +6.0% from the beginning of the year to 3.48 times.