The annual reports of 41 A-share listed securities companies in 2021 have been fully disclosed, and the pattern of “the strong is always strong” in the industry continues to be deduced. The 10 leading securities companies ranked among the “10 billion yuan club” in net profit, accounting for more than 67% of the total net profit. At the same time, small and medium-sized securities companies are gradually opening up their advantages and forming a new situation of high-quality competition.
Specifically, among the five main businesses, proprietary business and brokerage business are still the main sources of income of securities companies. At the same time, the revenue of asset management business of securities companies performed well, with the highest year-on-year increase of 28.15%.
10 securities companies
net profit exceeds 10 billion yuan
According to the data, in 2021, 41 listed securities companies achieved a total operating revenue of 635628 billion yuan, a year-on-year increase of 22.06%; The total net profit was 189803 billion yuan, a year-on-year increase of 29.92%. The growth rate of revenue and net profit is better than the industry average.
Among them, 10 listed securities companies ranked among the “10 billion yuan club” in net profit, accounting for 24%. The total net profit was 128347 billion yuan, accounting for 67.62% of the total net profit of listed securities companies. Among them, the 60030 \ , Guosen Securities Co.Ltd(002736) and other net profits also exceeded 10 billion yuan. Compared with the previous year, five new securities companies, including China Merchants Securities Co.Ltd(600999) , China Galaxy Securities Co.Ltd(601881) , China Securities Co.Ltd(601066) , China International Capital Corporation Limited(601995) , Guosen Securities Co.Ltd(002736) , were added to the “ten billion yuan club” in net profit.
Shen Juan, chief analyst of Huatai Securities Co.Ltd(601688) big financial team, said, “on the whole, compared with small and medium-sized securities companies, the business and regional layout of large securities companies are more comprehensive and diversified, which has basically got rid of the original excessive dependence on traditional brokerage and investment, and the overall income structure is more balanced.”
In terms of performance growth, in 2021, 35 of the 41 listed securities companies achieved double year-on-year growth in revenue and net profit. In terms of operating revenue, Guolian Securities Co.Ltd(601456) , Zheshang Securities Co.Ltd(601878) , China Galaxy Securities Co.Ltd(601881) , the year-on-year growth rate exceeded 50%. Among them, Guolian Securities Co.Ltd(601456) ranked first among listed securities companies with a year-on-year increase in revenue of 58.11%. In terms of net profit, the year-on-year growth of Central China Securities Co.Ltd(601375) , The Pacific Securities Co.Ltd(601099) securities exceeded 100%. Among them, Central China Securities Co.Ltd(601375) ranked first with an increase of 392.04% The Pacific Securities Co.Ltd(601099) securities net profit increased by 115.95% year-on-year, followed by. In contrast, the net profit of Southwest Securities Co.Ltd(600369) , First Capital Securities Co.Ltd(002797) , Huaxi Securities Co.Ltd(002926) , Chinalin Securities Co.Ltd(002945) decreased year on year.
brokerage asset management business
brilliant performance
In 2021, among the five main businesses of listed securities companies, including brokerage, investment banking, asset management, proprietary investment income and interest income, proprietary business income is still the largest source of securities companies’ income.
According to the statistics of wind, in 2021, 41 listed securities companies achieved a total self operated business income of 165.1 billion yuan (excluding the investment income of associates and joint ventures, including changes in fair value), an increase of 12.86% year-on-year. Among them, Citic Securities Company Limited(600030) , China International Capital Corporation Limited(601995) , Guotai Junan Securities Co.Ltd(601211) , Huatai Securities Co.Ltd(601688) , Haitong Securities Company Limited(600837) , Shenwan Hongyuan Group Co.Ltd(000166) ‘s self operated business income exceeded 10 billion yuan. From the perspective of year-on-year growth rate, Guolian Securities Co.Ltd(601456) , Central China Securities Co.Ltd(601375) have increased by more than 100%.
In terms of brokerage business, 41 listed securities companies achieved a total net brokerage fee income of 138072 billion yuan, a year-on-year increase of 20.31%. Among them, the net income of 11 securities companies exceeded 6 billion yuan, Citic Securities Company Limited(600030) took the lead with 13.963 billion yuan, Zheshang Securities Co.Ltd(601878) with a year-on-year increase of more than 40%.
In terms of investment banking, 41 listed securities companies achieved a total net income of 62.115 billion yuan from securities underwriting business, a year-on-year increase of 6.52%. Among them, the net income of “three middle schools and one China”, Haitong Securities Company Limited(600837) , Guotai Junan Securities Co.Ltd(601211) and Citic Securities Company Limited(600030) won the first place again The net income of securities underwriting business of Central China Securities Co.Ltd(601375) increased by 207.56% year-on-year, and the year-on-year growth of Guolian Securities Co.Ltd(601456) , Chinalin Securities Co.Ltd(002945) , Guoyuan Securities Company Limited(000728) also exceeded 50%. However, at the same time, the net income of securities underwriting business of 18 securities companies decreased year-on-year.
In addition, it is worth noting that the revenue of asset management business of securities companies performed well in 2021. 41 listed securities companies achieved a total net income of 49.913 billion yuan from asset management business, a year-on-year increase of 28.15%. Among them, the net income of asset management business of 12 securities companies exceeded 1 billion yuan. Overall, the asset management business of securities companies continued to differentiate last year. The net income of asset management business of Guolian Securities Co.Ltd(601456) had the highest year-on-year increase of 96.4%, and that of another four securities companies exceeded 50%. At the same time, the net income of asset management business of 11 listed securities companies decreased by more than 10% year-on-year.
In terms of net interest income, 41 listed securities companies achieved a total net interest income of 60.075 billion yuan, a year-on-year increase of 12.32%. Among them, the net interest income of Haitong Securities Company Limited(600837) , Guotai Junan Securities Co.Ltd(601211) , China Galaxy Securities Co.Ltd(601881) , Citic Securities Company Limited(600030) exceeded 5 billion yuan, and Haitong Securities Company Limited(600837) took the lead with 6.621 billion yuan. In terms of year-on-year growth rate, The Pacific Securities Co.Ltd(601099) securities ranked first with an increase of 654.96%.
