Brokerage commissions in July attracted 21.1 billion yuan, a month-on-month increase of 108%
Our reporter Zhou Shangding
In July, the A-share market was surging. The Shanghai Composite Index rose 10.9%, the highest point was 3548.79 points, and the lowest point was 2984.98 points, with a span of nearly 500 points. According to statistics from Orient Wealth Choice, 20 of the 23 trading days had a turnover of more than one trillion yuan. The total monthly turnover in Shanghai and Shenzhen was 30.09 trillion yuan, a month-on-month increase of 108.09% and a year-on-year increase of 229.93%. The average daily turnover of the two cities was 1.34 trillion yuan, a month-on-month increase of 82.86% and a year-on-year increase of 221.88%. The active trading has also brought substantial commission income to the brokerage.
Specifically, in July this year, the trading volume of A shares was 2,312.93 billion shares, with a turnover of 30,094.83 billion yuan; the trading volume of B shares was 1.821 billion shares, with a turnover of 8.861 billion yuan; and the turnover of funds (LOF, ETF, etc.) was 55.62 billion. yuan.
According to statistics from the "Securities Daily" reporters, according to the latest industry average net commission rate for 2019 announced by the Securities Association of China of 3.49%, in July, brokerages collected 21.051 billion yuan in commissions, an increase of 108.28 month-on-month. %; The average daily commission income was 915 million yuan, an increase of 81.19% from the previous month. So far, in the first seven months of 2020, the total commissions collected by brokers have reached 83.077 billion yuan, which has exceeded the total of last year. In 2019, the total commissions collected by brokers have reached 79.68 billion yuan.
At the same time, the transformation of the leading brokerage business's brokerage business has shown results, and its share of revenue has gradually declined. According to the latest data from the Securities Association of China, in the first half of this year, the net income of brokerage securities trading (including the lease of trading unit seats) was 52.31 billion yuan, an increase of 17.82% over the first half of last year, accounting for 24.51% of total revenue.
The entry of new investors into the market is also a boost to brokerage commission income. According to the latest data from China Clearing, the number of new investors in the Shanghai and Shenzhen stock markets in June was 1.549 million, an increase of 46.72% year-on-year and 27.58% month-on-month. As of the end of June, the number of investors in the Shanghai and Shenzhen stock markets at the end of the period was 167,743,200, a year-on-year increase of 8.72%. In the first half of this year, the number of new investors in the Shanghai and Shenzhen stock markets increased by 7,990,800 from the end of 2019.
In addition, the total turnover of the Sci-tech Innovation Board in July was 1,207.936 billion yuan. If calculated according to the average commission rate of the brokerage industry of 3.49 per 10,000, the 143 Sci-tech Innovation Board stocks contributed 844 million yuan in commission to the brokerage. Accounted for 4%.
In this regard, Huajin Securities analyst Cui Xiaoyan predicts, “Under the intensified industry competition, the net commission rate will continue to decline, but the periodic changes in the stock market’s trading activity can still make the brokerage business income elastic. Generally speaking, large and medium-sized brokerages The business flexibility is relatively low. Due to its more stable institutional clients, the wealth management transformation of large and medium-sized securities firms has achieved initial results, and the industry commission price war is unsustainable. At present, the commission price war is still ongoing, but relying on the price war to conquer the city The pace has slowed down, and the transformation of high-quality securities firms to wealth management has achieved initial results.” (Securities Daily)