In the first half of this year, the combined net income from brokerage business fees of 43 listed securities firms totaled 14.03 billion yuan, a decrease of 9.758 billion yuan compared to the same period last year, representing a 41% decrease.
According to data from Wind, only 9 listed securities firms achieved positive growth in net income from brokerage business fees in the first half of the year, while the remaining 34 firms experienced an average decrease of 40%.
Among the 10 securities firms where the year-on-year decrease in net income from brokerage business fees exceeded 50%, Hualin Securities, Zhongyin Securities, and Northeast Securities led with declines of 73%, 71%, and 67% respectively. Securities firms like CITIC Securities, Haitong Securities, and CITIC Securities, which have a significant advantage in investment banking business, also saw significant declines in net income, with decreases of 62%, 56%, and 55% respectively.
According to reports from Securities Times, the performance of securities firms’ investment banking business in the first half of the year is closely related to the overall market environment. In the first half of the year, whether it is IPO projects or refinancing projects, the scale of fundraising has declined by over 60% year-on-year, with the total amount of equity financing ultimately decreasing by 73.90% year-on-year.
The situation where stocks are weak and bonds are strong has led to severe declines in the performance of securities firms that focus on equity investment businesses. Some securities firms even faced losses in their investment banking business when costs were deducted.
Wind data shows that 17 listed securities firms had negative net income from investment banking business, with CICC leading the losses at 784 million yuan. Seven securities firms including Huatai Securities, Shanxi Securities, Changjiang Securities, and CITIC Securities had investment banking losses exceeding 50 million yuan each.