流动性相对宽松环境延续、资本市场环境持续优化、投资者信心重塑等多方面因素共同推动行业盈利能力预期改善，预计四季度上市券商将持续展现业绩弹性。On November 11th, the trading volume of the Shanghai and Shenzhen stock markets has surpassed 2 trillion for the 5th consecutive day.
On November 11th, the trading volume of the Shanghai and Shenzhen stock markets has exceeded 2 trillion for the 5th consecutive day.
China Galaxy's research report pointed out that driven by a series of policy combinations, the confidence of investors in the capital markets in our country is continuously being restored, trading activity is increasing, and the securities industry prosperity is returning to an upward trend.
Various factors such as the relatively loose liquidity environment, continuous optimization of the capital market environment, and the reshaping of investor confidence are jointly driving the industry's profit improvement expectations. It is expected that listed brokerages will continue to demonstrate performance elasticity in the fourth quarter.
Bullish on three types of sectors: the first is top brokerages with strong overall strength, the second is brokerages expected to enhance core competitiveness through mergers and acquisitions, and the third is brokerages with good development in digital transformation.
Previously, Cai Xing Securities pointed out that the concentration of the brokerage industry is relatively low, policy support to create 'carrier-grade brokerages', strong expectations for mergers and acquisitions. Benefiting from the bullish policies of this round of market capitalization management and M&A market reforms, coupled with the continuous recovery of capital market trading volume, it is expected that brokerages will still have opportunities for repeated activity.
Opening Securities pointed out that since October, the market trading volume has remained high, coupled with a low base, and it is expected that the performance of brokerages in the fourth quarter will show a significant increase compared to the third quarter.
Chinese brokerage sector related companies:
CSC (06066), Guolian (01456), Everbright (06178), China Galaxy (06881), swhy (06806), Haitong Sec (06837), GTJA (02611), China International Capital Corporation (03908), Citic Sec (06030), HTSC (06886), China Merchants (06099), CC Securities (01375), and more.
