A-share brokerages welcome a dual recovery window for valuation and performance

The performance forecasts and reports for listed securities firms for the year 2025 have entered a period of intensive disclosure. As of the time of publication, several securities firms, including CITIC Securities, Guolian Minsheng, and Southwest Securities, have taken the lead in revealing their annual "report cards." Overall, leading securities firms have achieved record high profit levels, and the expected performance of merger and acquisition targets is projected to experience explosive growth, while small and medium-sized securities firms have demonstrated strong developmental resilience. However, the current valuation of the securities sector is diverging from its fundamentals. Institutions generally believe that the certainty of high performance growth, combined with ongoing favorable policies, provides a clear long-term growth logic for the securities sector, and short-term fluctuations in capital do not alter its core investment value. (Securities Daily)