On October 30, Cailian Press (Reporter Gaoyanyun) the veil of the third-quarter performance of brokerages is being lifted. On October 29, 9 brokerages disclosed their third-quarter reports. A total of 18 listed brokerages or listed entities have disclosed their third-quarter reports. The arithmetic average of the year-on-year growth rate of the net profit attributable to mothers of these 18 brokerages in the first three quarters is 46.17%, with 11 showing positive growth and 7 showing negative growth.

The brokerage performance mainly saw a strong rebound in the third quarter, with an average 85% quarter-on-quarter increase in the net profit attributable to mothers of 18 listed brokerages or listed entities this year's third quarter, and an average year-on-year growth rate of 236.01%, with only 1 showing a decline year-on-year.

From the perspective of various business lines, among the 13 comparable brokerages, the average year-on-year decrease in net brokerage commission income in the first three quarters is 10.2%, average year-on-year decrease in investment banking business net revenue is 41.01%, average year-on-year increase in asset management business net revenue is 9.32%, average year-on-year decrease in interest net income is 42.16%, and proprietary trading business increased by 33.84% year-on-year.

Impressive performance has led to many brokerage colleagues sharing their own performance achievements on social media.

The net profit of brokerages in the first three quarters increased by nearly 50% on average.

The net profit situation of the 4 larger brokerages is as follows: Citic Securities (16.799 billion yuan), China Merchants Securities (7.15 billion yuan), East Money Information (6.042 billion yuan), and Guosen Securities (4.879 billion yuan). Among them, China Merchants Securities had the fastest growth rate, with a 11.68% year-on-year increase in net profit attributable to mothers in the first three quarters, East Money Information decreased by 2.69% year-on-year, and the other two were Citic Securities (2.35%) and Guosen Securities (0.1%).

Five listed brokerages or listed entities had significantly higher year-on-year growth rates of net income attributable to the parent company in the first three quarters, namely Harbin Hatou Investment (641.02%), First Capital (95.45%), Guosheng Financial Holding Inc. (74.40%), Shouchuang Securities (63.10%), and Huaan Securities (19.18%); Three brokerages had a significant decrease in year-on-year growth rate of net income attributable to the parent company, namely Western Securities (-16.82%), Northeast Securities (-17.78%), and The Pacific (-45.71%).

In terms of revenue, the average year-on-year growth rate of revenue for 18 brokerages in the first three quarters of this year was a decline of 1.13%, with 6 showing positive growth and 12 showing negative growth. Citic Securities had a revenue scale of 46.142 billion yuan, with revenue showing a stable performance, with a year-on-year growth of 0.73%.

Among the brokerages with revenue exceeding 10 billion in the first three quarters, there are also China Merchants Securities (14.279 billion yuan), Guosen Securities (12.271 billion yuan), and Zheshang Securities (11.896 billion yuan).

The brokerage situation reversed in the third quarter and performance surged.

For most brokerages, the performance reversal mainly occurred in the third quarter of this year.

In comparison, for the 18 listed brokerages or listed entities, the year-on-year net income attributable to the parent company in the third quarter of this year had an average growth rate of 85%, with 11 showing positive growth and 7 showing negative growth. Among them, the ones with growth rates of more than double are Harbin Hatou Investment (657.23%), Xiangcai Co.,Ltd (517.66%), Northeast Securities (207.49%), The Pacific (102.75%), and 2 others maintained a high growth rate of comparability, namely Guosheng Financial Holding Inc. (79.29%) and Zheshang Securities (42.64%).

The year-on-year growth rates of net income attributable to the parent company in the third quarter were more prominent, with an average growth rate of 236.01% for the 18 brokerages. Only one of these brokerages had a decrease in year-on-year net income, namely Western Securities with a 53.74% decrease. Those with doubled year-on-year growth rates include First Capital (1906.26%), Northeast Securities (1059.65%), Xiangcai Co., Ltd (437.65%), Harbin Hatou Investment (313.44%), and Guosheng Financial Holding Inc. (175.1%).

Four brokerages had a single-quarter net income exceeding 1 billion yuan in the third quarter of this year, with Citic Securities having a net profit as high as 6.229 billion yuan, and the other 3 being China Merchants Securities (2.402 billion yuan), East Money Information (1.986 billion yuan), and Guosen Securities (1.74 billion yuan).

In addition, there are 4 listed brokerages or entities whose quarterly net income attributable to shareholders in the third quarter did not exceed one billion yuan, namely Western Securities (0.075 billion yuan), Xiangcai Co.,Ltd (0.072 billion yuan), The Pacific (0.068 billion yuan), Guosheng Financial Holding Inc. (0.039 billion yuan),

Asset management and proprietary trading are the mainstays

In terms of brokerage business, in the first three quarters, 13 comparable data brokerage firms all experienced negative growth in net income from brokerage fees, with a total income of 21.136 billion yuan, a year-on-year decrease of 10.20%. The brokerage firms with a decrease in income growth of more than 10% are First Capital (-20.42%), The Pacific (-19.11%), Northeast Securities (-16.61%), First Capital (-16.47%), Huaan (-14.99%), China Merchants (-14.15%), Western Securities (-11.59%), Soochow Securities (-9.89%).

Investment banking business has not yet recovered, with a total of 5.748 billion yuan in investment banking net income from the first three quarters of 13 comparable brokerage firms, a year-on-year decrease of 41.01%. Only 3 out of the 13 brokerage firms have positive growth in this income, namely First Capital (74.72%), The Pacific (53.60%), First Capital (11.51%).

Asset management business maintained counter-cyclical growth, with a total of 12.59 billion yuan in net income from asset management fees for the first three quarters of 13 comparable brokerage firms, an increase of 9.32% year-on-year. Among the 13 brokerage firms, only 2 had negative growth rates in this income, namely Caitong (-0.01%), China Merchants Securities (-8.49%). 5 of the firms showed significant year-on-year growth rates, with First Capital doubling its income, reaching 0.748 billion yuan in the first three quarters, a 103.45% increase year-on-year.

Other asset management business income with high growth rates includes Guosen Securities (81.62%), Western Securities (81.24%), Soochow Securities (69.10%), Guoyuan Securities (59.31%).

Interest income related to credit business continues to decline, with a total of 5.856 billion yuan in interest net income in the first three quarters of 13 comparable brokerage firms, a year-on-year decrease of 42.16%.

Proprietary trading is an important stabilizing force for brokerage performance, with a total revenue of 47.807 billion yuan in proprietary trading in the first three quarters of 13 comparable brokerage firms, a year-on-year increase of 33.84%. Out of the 13 firms, 10 are showing positive growth, with 2 brokerage firms doubling their income, namely Guoyuan Securities (136.74%), First Capital (131.30%); those with higher growth rates also include Huaan Securities (63.88%), China Merchants Securities (51.88%), Citic Securities (37.28%), Soochow Securities (30.16%).

"Both success and failure are self-operated." The significant decline in business revenue of three brokerages also led to poor overall performance. The year-on-year growth rates of the three brokerages and self-operated businesses were -12.68% for West Securities, -15.94% for Caitong Securities, and -39.53% for The Pacific.

Editor / jayden