The Zhitong Finance App learned that the decline in Chinese brokerage stocks increased. As of press release, CITIC Construction Investment Securities (06066) fell 4.40% to HK$10.42; China Merchants Securities (06099) fell 3.94% to HK$12.45; Cathay Pacific Haitong (02611) fell 3.74% to HK$13.12; and the League of Nations People's Livelihood (01456) fell 3.72% to HK$3.235.
According to the news, the three quarterly reports of listed brokerage firms coincide with a period of intensive disclosure. The non-bank teams of several brokerage firms recently released forward-looking findings: the year-on-year increase in net profit of listed brokerage firms in the first three quarters is still expected to remain in double digits, with high growth certainty; however, due to the decline in market trading and stock market pullbacks in the third quarter, major brokerage industry profits are generally in the range of 17% to 31% month-on-quarter.
Shen Wan Hongyuan released a research report saying that it is expected that the performance differentiation of listed brokerage firms will further intensify in the third quarter. Among them, science and innovation investment bank+ investment became a double-edged sword: the 3Q26 Science and Technology Innovation 50 Index recorded the biggest decline in a single quarter in history, the profit of science and innovation investment shrank markedly in 2Q26, and the performance of brokerage firms with high exposure to science and innovation will be hampered. Seizing Changxin Technology's IPO opportunities, brokerage firms that rely on investment bank underwriting sponsorship+follow-up investment+direct investment will reap better returns. Furthermore, international business supported Q3 results in a “countercyclical” manner.