Last year, the structural market of A-share market continued to perform, and the scale of public funds exceeded 25 trillion yuan. In this context, last year, the fund sub warehouse commission income of securities companies exceeded 20 billion yuan, an increase of nearly 8 billion yuan or 57.52% over 2020.
The Commission ranking of securities companies also surfaced: Citic Securities Company Limited(600030) continued to be the champion for consecutive times, Changjiang Securities Company Limited(000783) ranked second, and Gf Securities Co.Ltd(000776) rose by 1 place to the top three. The ranking competition between the fifth and tenth places is more intense. Haitong Securities Company Limited(600837) rose from the tenth to the sixth place, Zhongtai Securities Co.Ltd(600918) fell three places to the ninth place, and Guotai Junan Securities Co.Ltd(601211) fell two places to the top ten.
Gf Securities Co.Ltd(000776) among the top three
According to the data of Tianxiang investment adviser, the stock trading volume disclosed in the 2021 annual report of public funds was 27.03 trillion yuan and 17.1 trillion yuan in 2020, a year-on-year increase of 58.07%. Due to the substantial increase in stock trading volume, the fund sub warehouse commission income of securities companies reached 21.306 billion yuan in 2021, an increase of 57.52% over 2020.
On the whole, the sub warehouse commission income of 37 securities companies exceeded 100 million yuan, compared with 31 last year. Among them, Citic Securities Company Limited(600030) , Changjiang Securities Company Limited(000783) , Gf Securities Co.Ltd(000776) , China Securities Co.Ltd(601066) securities and other four securities companies have a sub warehouse commission income of more than 1 billion yuan.
Last year, the list of the top three securities companies with sub warehouse commissions changed slightly. Specifically, Citic Securities Company Limited(600030) sub warehouse Commission reached 1.469 billion yuan, an increase of 43.51% over 2020, and won the championship again Changjiang Securities Company Limited(000783) continued to rank second with a sub warehouse Commission of 1.162 billion yuan, an increase of 57.38% over 2020 Gf Securities Co.Ltd(000776) sub warehouse Commission also achieved rapid growth, an increase of 73.79% over 2020, ranking among the top three.
In addition, the ranking of fifth to tenth also changed greatly. Compared with 2020, the old securities firm Haitong Securities Company Limited(600837) caught up, rising from the tenth to the sixth, and China Industrial Securities Co.Ltd(601377) rose from the eighth to the seventh. Some people are happy and others are worried. The ranking of Zhongtai Securities Co.Ltd(600918) fell from sixth to ninth, and the ranking of Guotai Junan Securities Co.Ltd(601211) securities also fell by two, leaving the top ten and ranking 11th.
In the year when the trading volume of public shares increased greatly, some securities companies took the opportunity to achieve rapid growth. Specifically, the sub warehouse revenue of 24 securities companies doubled. For example, the sub warehouse Commission revenue of deppon securities increased by 902.54% year-on-year, and the ranking also rose from 69 to 44.54% Similarly, the sub warehouse commission income of Wanhe securities, Jinyuan securities and Kaiyuan securities increased by more than 300%.
Some securities companies also missed this opportunity. The year-on-year growth rate of sub warehouse income of 11 securities companies was negative, for example, the ranking of Aijian securities and Central China Securities Co.Ltd(601375) decreased.
commission rate reduced to below 80000
Active trading in the secondary market has brought rich commission income to securities companies. However, the commission rate of the whole organization is still declining.
For a long time, the commission rate between fund companies and securities companies has been set at 8 / 10000, commonly known as "institutional wholesale price". Last year, the stock trading volume of public funds increased significantly, but the proportion of commissions paid by the fund for renting brokerage seats in the stock trading volume decreased to less than 8 / 10000.
According to the data, the commission rates of Huatai Securities Co.Ltd(601688) , China Securities Co.Ltd(601066) , Gf Securities Co.Ltd(000776) , and China stock market news securities are all below 80000. Deppon securities reduced commission significantly, and the commission rate decreased to 68000 from 85000 last year Kyushu securities commission rate rose sharply, from 38000 last year to 93000.
In recent years, securities companies have paid more attention to research business, more and more small and medium-sized securities companies have recruited to build research teams, and the competition for fund commissions has become more intense. A person from a brokerage research institution in Shanghai said that in order to seize market share, the research institution will take the initiative to reduce the commission rate of the fund company in exchange for sub warehouse income.
Insiders believe that this change will force the Institute of securities companies to accelerate the transformation of business model. Since last year, some research institutes focusing on seller research have put forward transformation strategies. The main direction of transformation is to explore new service objects, especially to strengthen internal services.
