21 Listed Brokers Report 95.24% Positive First-Half Profit Alerts, Securities Sector Surges in Afternoon Trading

EarningsIndustry
โดย 21世纪经济·Read original
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The securities sector strengthened in afternoon trading on July 15, with CICC closing up 8.18%, and GF Securities and China Securities rising over 3%, as listed brokers released a dense batch of first-half 2026 performance forecasts signaling strong earnings. By 1 p.m., 21 of the 50 constituents in the securities sector had issued forecasts, with only Jinlong Co. reporting a decline, while the other 20 all achieved positive profit growth, giving the sector a positive alert rate of 95.24%. Among top-tier brokers, CITIC Securities forecast net profit of 23.343 billion yuan, up 69.59% year-on-year and a record high for the period; Guotai Haitong projected attributable net profit of 20.003 billion to 20.511 billion yuan, up 27% to 30%; and China Merchants Securities estimated net profit of 10 billion to 11 billion yuan, up 93% to 112%. Mid-sized and smaller brokers showed strong elasticity, with Tianfeng Securities forecasting attributable net profit of 164 million to 246 million yuan, a surge of 429.03% to 693.55%. The broad-based earnings improvement was driven by three main engines: average daily stock and fund turnover on the A-share market reached 3.26 trillion yuan in the first half, up 98.72% year-on-year; total IPO fundraising amounted to 95.3632 billion yuan, up 150.94%; and proprietary trading benefited from a structural market. Institutions note that the brokerage sector's valuation remains at a historical low, with a price-to-book ratio of just 1.20 times, at the 17.1% percentile over the past decade, leaving room for valuation repair worth watching.

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