China News Service, Beijing, May 2 (Reporter Chen Kangliang) The first-quarter performance report of China's A-share listed securities companies has recently been "released".
Statistics show that in the first quarter, the performance of listed brokerages was generally under pressure. Both operating income and net profit declined year-on-year, and some brokerages even suffered losses.
According to the statistics of financial data service provider Wind, in the first quarter of this year, the total operating income of the 41 A-share listed securities companies was about 96.268 billion yuan (RMB, the same below), a decrease of nearly 30% compared with the same period last year; net The total profit was about 22.921 billion yuan, a year-on-year decrease of 46%.
Among the 41 listed brokerages, only 4 brokerages achieved positive year-on-year growth in net profit, and 8 brokerages suffered losses.
In this regard, Shanxi Securities analyst Liu Li pointed out that the performance of securities companies in the first quarter was under pressure.
Since the beginning of the year, due to the international geopolitical changes and the spread of the new crown pneumonia epidemic exceeding expectations, the A-share secondary market has intensified volatility, the core stock indexes have all fallen, and the average daily turnover has also shrunk, which has a certain impact on the performance of securities companies. Among them, self-operated performance is the biggest influencing factor.
The so-called self-operated business mainly refers to the investment of securities companies using their own funds, including investment in bonds and stocks.
In previous years, the self-operated business, which has been an important pillar of brokerage revenue, has become the biggest drag on brokerage performance in the first quarter of this year.
Statistics show that the scale of self-operated income of 41 listed securities firms in the same period last year was 32.819 billion yuan, while the total loss of self-operated business income this year was 2.103 billion yuan.
Among them, the loss of the self-operated business of Haitong Securities in the first quarter was as high as 2.629 billion yuan.
It is worth noting that the "head effect" of listed brokerages is still continuing.
The performance of CITIC Securities, the industry's "big brother", is still relatively the best.
Data show that in the first quarter, CITIC Securities achieved revenue of 15.216 billion yuan, a year-on-year decrease of 7.2%; net profit of 5.229 billion yuan, a year-on-year increase of 1.24%.
Although its revenue has declined and its net profit has only achieved a slight increase, CITIC Securities still won the "double champion" in terms of revenue scale and net profit scale.
Dongxing Securities analyst Liu Jiawei analyzed that the A-share market fluctuated sharply in the first quarter, and the core market indexes all declined significantly, which seriously dragged down the performance of self-operated investment. ”, the performance of self-operated business was significantly better than that of its peers.
On the other hand, with the help of the registration system "Dongfeng", CITIC Securities continued to make great progress in the field of investment banking business, forming an important growth point of profit.
In response to the overall development prospects of the securities industry in the future, Wang Zejun, an analyst at China Post Securities, said that in 2022, securities companies are expected to benefit from favorable policies and diversified business development and perform better, and short-term market pressure will not hinder the vigorous development of the industry.
Wealth management business is expected to become an important breakthrough for the future performance growth of securities companies, and even reassess the value of the securities industry.
Xue Hongyan, vice president of Xingtu Financial Research Institute, also holds a similar opinion.
Xue Hongyan said that the personal pension system, which has attracted much attention, has recently "landed".
Personal pension is a typical wealth management business, which is good for the wealth management track.
Considering that the capital market will become the main stage for wealth management, securities companies are the primary beneficiaries.
Whether it is brokerage business, investment banking business, self-operated business or asset management business, they are all directly related to the capital market, and securities companies are the direct beneficiaries.
In addition, many securities companies also control or participate in fund companies, which can share the dividends of the great development of fund companies.
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