TREE NEWS reports: Seven Chinese brokerages and four brokerage parent companies had disclosed first-three-quarter results by Oct. 28. Only CITIC Securities and Huaxi Securities posted year-on-year growth in both revenue and net profit, while several smaller peers came under pressure. Guoyuan Securities and Dongxing Securities saw revenue dip slightly, though net profit attributable to shareholders rose 3.36% and 0.75% respectively. Jianghai, Xinda and Northeast Securities grew revenue but posted lower net profit than a year earlier.
First Brokerage Q3 Results: CITIC, Huaxi Post Dual Growth
AI take
The split between CITIC and Huaxi's dual growth and the mixed results elsewhere suggests scale and business mix are separating the largest players from smaller peers, where revenue gains are not translating into profit. This matters most for the mid-tier brokerages now facing margin pressure even as top-line figures hold up. Whether the divergence persists through the rest of the reporting season, and whether the smaller firms' profit squeeze deepens, is the open question worth watching.
Generated by AI for reference only.
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