Listed brokerages collectively optimistic about their performance in 2025

As of the evening of January 27, Guotai Haitong, Shenwan Hongyuan, DFZQ, Hongta Securities, and CMSC have simultaneously released their performance forecasts or preliminary reports for 2025. The net profit attributable to the parent company for these five brokerages is expected to grow year-on-year by 111%—115%, 74.64%—93.83%, 67.80%, 59.05%, and 18.43%, respectively. Previously, CITIC Securities, GLMS SEC, and three other brokerages were the first to disclose performance forecasts or preliminary reports, also presenting impressive results. Currently, at least three sell-side analysts have published research reports on the performance outlook for brokerages in 2025, predicting that the overall net profit growth rate for listed brokerages will reach 40% to 60% year-on-year