China Securities Association data show 150 brokerages posted CNY329.81 bln in revenue and CNY138.66 bln in net profit in 1H 2026. CITIC Securities and Guotai Haitong together generated CNY96.9 bln of revenue (29.38% of the industry) and CNY44.9 bln of net profit (32.4%). The top 10 firms accounted for 75.23% of industry revenue, 83.37% of net profit and 74% of assets. Guosen Securities says brokerage earnings are likely to remain highly buoyant, driven by structural optimisation of proprietary investment and business-model transformation.(金十数据)