Recently, the China Securities Association released the operating data of securities companies for the first half of 2026. Driven by continued active market trading and the release of capital market reform dividends, the overall profitability of the industry has improved markedly compared to the same period in previous years. Traditional brokerage and credit businesses have been significantly restored, and transformation businesses such as investment consulting and asset management have accelerated growth, and the growth of brokerage performance is becoming more diversified. At the same time, the “strong are strong” pattern in the industry continues to deepen, the profit concentration of leading brokerage firms has further increased, and it has become more difficult for small and medium-sized brokerage firms to break through. Analysts believe that the securities industry is still in an upward cycle, but the investment logic has moved from general sector growth to selected individual stocks, and the allocation value of leading institutions with strong capital strength and balanced business structures continues to stand out.

Recently, the China Securities Association released the operating data of securities companies for the first half of 2026. Driven by continued active market trading and the release of capital market reform dividends, the overall profitability of the industry has improved markedly compared to the same period in previous years. Traditional brokerage and credit businesses have been significantly restored, and transformation businesses such as investment consulting and asset management have accelerated growth, and the growth of brokerage performance is becoming more diversified. At the same time, the “strong are strong” pattern in the industry continues to deepen, the profit concentration of leading brokerage firms has further increased, and it has become more difficult for small and medium-sized brokerage firms to break through. Analysts believe that the securities industry is still in an upward cycle, but the investment logic has moved from general sector growth to selected individual stocks, and the allocation value of leading institutions with strong capital strength and balanced business structures continues to stand out.