At present, 31 listed securities companies have not announced the first quarterly report or performance forecast for 2018, but the financial data briefs for March of this year have all been disclosed. By aggregating the financial data for the first three months of this year, it is possible to roughly calculate the performance of listed securities companies in the first quarter of this year. (The financial data disclosed by listed securities companies each month is the parent company and domestic controlling securities subsidiary. The relevant data is The total value of the parent company's data is unaudited, not the consolidated report data in the strict sense, the same below.
According to "Securities Daily" reporters, in the first quarter of this year, the total revenue and net profit of the 31 A-share listed brokerage companies decreased from the same period in 2017. butCITIC Securities,Guotai Junan,Huatai SecuritiesLeading companies such as this have continued their good momentum last year and their performance has once again surpassed the industry's overall level. The industry believes that for the leading brokerage firms, their forward-looking outlook and strong capital strength are expected to benefit from the opportunity for the capital market to continue opening up to the outside world.
First quarter results decline overall
Oriental WealthChoice dataShows, adding the financial data of the securities companies listed in the first three months of this year, 31 listed securities companies in the first quarter of this year to achieve total operating income of 44.47 billion yuan; total net profit of 17.78 billion yuan. There are 28 listed brokerage companies with comparable data. In the first three months of this year, cumulative revenue was 37.93 billion yuan, a year-on-year decrease of 9.15%; cumulative net profit was 15.45 billion yuan, a year-on-year decrease of 17.9%.
Specifically, Guotai Junan won the top spot in the revenue list for the first quarter of this year, achieving operating income of approximately 5.587 billion yuan, an increase of 18.71% year-on-year; Huatai Securities and CITIC Securities followed by 4.701 billion yuan and 4.626 billion yuan respectively. Among the comparable data, only eight listed brokerage companies recorded positive growth in their revenue during the first quarter of this year. In addition to Guotai Junan, there areThe Pacific OceanSecurities,The first venturewithSouthwest SecuritiesThe increase reached double digits. CITIC Securities,Shen Wanhongyuan,Changjiang SecuritieswithFounder SecuritiesThe year-on-year increase in revenue in the first quarter of this year was less than 10%.
In terms of net profit, both Huatai Securities and Guotai Junan exceeded RMB 2 billion, ranking the top two, respectively RMB 2.955 billion and RMB 2.36 billion; CITIC Securities,Haitong SecuritieswithGF SecuritiesRanked third to fifth, the first quarter of this year's net profit was 1.946 billion yuan, 1.439 billion yuan and 1.265 billion yuan. It is worth noting that Huatai Securities received a dividend of 1.492 billion yuan from Huatai United Securities in March this year. If the impact of dividends is reduced, the first net profit in the first quarter of this year will be Guotai Junan.
In the first quarter of this year, there were only 6 listed securities companies whose net profit was growing year-on-year. Guotai Junan and CITIC Securities increased by approximately 1.88% and 10.7% year-on-year. The other four positive increases in net profit areShen Wanhongyuan, Southwest Securities, First Venture and Pacific Securities. In the first quarter of this year, the year-on-year decline in performance was more significant.Industrial Securities,Soochow SecuritieswithOriental SecuritiesThe drop was between 60% and 80%.
For the first quarter of this year, the total decline in revenue and net profit of listed securities firms during the first quarter of the year, but leading brokerages such as Guotai Junan and CITIC Securities have risen against the trend. Some analysts pointed out that the tightening of market supervision is conducive to the improvement of industry concentration. With the introduction of new regulations on asset management and the prohibition of off-exchange options, leading brokerages with strong risk control capabilities, extensive customer resources, and strong active management capabilities will widen the gap with small- and medium-sized brokers and continue to expand their advantages.
Huatai Securities continues to lead
Brokerage market share
Oriental Wealth ChoiceThe data also shows that 31 listed brokerage firms have comparable brokerage business in the first quarter of this year compared with the same period of last year; the investment banking business has been affected by the tightening of audits, and the asset management business has been under pressure because of the expected increase in the new regulatory requirements for asset management.
According to statistics from the top 100 brokerage stocks, the total turnover of the stocks in the first quarter of this year was 54.47 trillion yuan, a slight increase of 4.48% from 52.14 trillion yuan in the same period of last year. Huatai Securities still holds a leading position with a market share of 7.49%. CITIC Securities has a market share of approximately 6.11%, ranking second; followed by six securities companies.GF SecuritiesGuotai Junan,China Milky Way,Haitong Securities,China Merchants SecuritiesAnd Shen Wanhong Hongyuan, their market share is similar, are above 4%.
Compared with the same period of last year, the increase in stock turnover in the first quarter of this year was marked by Pacific Securities (up by 24.42% year-on-year), Industrial Securities (up by 20.09% year-on-year) and First Venture (up 12.54% year-on-year).State Securities(+1.47% YoY), Cheung Kong Securities (+1.46% YoY) and CITIC Securities (+11.07% YoY).
Asset management business,Oriental SecuritiesAssets and management performance in the first quarter of this year, a beautiful performance, total net profit of about 331 million yuan, an increase of 310.87%, for the company's performance to provide a stable contribution, accounting for about 140.96%, making up for the loss caused by other business weakness. At the same time, China Merchants Asset Management, Everbright Asset Management and Galaxy Jinhui have also achieved a year-on-year increase in performance. In the first quarter of this year, the company contributed more than 10% of its profit to the company group, including Hing Securities, Dongzheng Finance, Zheshang Asset Management and Guangfa Asset Management.
In the investment banking business, Huatai United Securities achieved a net profit of RMB 123 million in the first quarter of the year, and Changjiang Securities underwriting sponsored companies’ performance was basically the same as the year-ago period.Shanxi SecuritiesThe performance of Sino-German Securities fell significantly year-on-year, with a loss of 9.92 million yuan.Morgan StanleyHuaxin Securities also suffered losses in the first quarter of this year, with a loss of approximately 39.43 million yuan, which was the main reason for the overall loss of Huaxin Securities in the first quarter of this year.