此外，该行预期海通证券与国泰君安证券潜在合并将带来成本协同效益，有望提高公司的盈利能力，并可能成为内地资产规模最大的券商，但由于两家券商的业务类似，规模亦相若，整合需时，因此实现程度仍不明朗。DBS expects that the two brokers' business is similar, the scale is similar, and the integration will take time, so the extent of implementation is still unclear.
The Zhitong Finance App learned that DBS released a research report stating that while maintaining the “holding” rating of Haitong Securities (06837), the target price was slightly reduced from HK$3.6 to HK$3.5.
According to the report, Haitong Securities's profit fell 75% year on year in the first half of the year, which was lower than market expectations, mainly due to poor performance in investment income and expense income. The bank lowered Haitong Securities's profit forecast for this year and next by 36% and 40% to reflect weak investment income and lower prospects for onshore business.
Furthermore, the bank anticipates that the potential merger of Haitong Securities and Guotai Junan Securities will bring cost synergy benefits, which is expected to increase the company's profitability and may become the largest brokerage firm in mainland assets. However, since the two brokers' businesses are similar, the scale is similar, and the integration will take time, so the extent of implementation is still unclear.
