The first batch of securities companies disclosed that most of the net profits in 2023 will achieve positive growth
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A few days ago, the first batch of securities companies’ 2023 annual results “surfaced” in the form of performance reports, forecasts, unaudited financial reports, etc. Data shows that against the backdrop of a low industry net profit base in 2022, most brokerages will achieve positive growth in 2023. Judging from the 15 securities firms that have disclosed their performance, a total of 9 securities firms have achieved positive growth in net profit, of which 6 securities firms have a growth rate of more than 50%.
According to incomplete statistics from a reporter from the Economic Information Daily, as of press time on January 22, there are currently 1 A-share listed securities firm in the market that has released a performance report (Guoyuan Securities), and 3 companies have released performance forecasts. In addition, 11 securities firms disclosed their performance through consolidated statements or parent company statements. Among the current 15 securities firms, 9 securities firms have maintained growth in net profits, and 6 of them have a year-on-year growth rate of more than 50%, namely Guosheng Securities, Xiangcai Securities, Southwest Securities, Guodu Securities, Yingda Securities, and Shenwan Hongyuan.
On the evening of January 19, Shenwan Hongyuan disclosed its 2023 performance forecast. Data shows that the company is expected to achieve a net profit attributable to shareholders of listed companies of 4.2 billion to 5 billion yuan in 2023, compared with 2.789 billion yuan in the same period in 2022; in 2023, it is expected to achieve a net profit of 4 billion to 5 billion yuan after deducting non-recurring gains and losses. 4.8 billion yuan, compared with 2.616 billion yuan in the same period in 2022. Both profitability metrics achieved substantial growth.
As for the reasons for the significant improvement in performance, Shenwan Hongyuan said that in 2023, the company will firmly grasp the primary task of high-quality development, adhere to the general tone of seeking progress while maintaining stability, and focus on the “investment + investment banking” development strategy to accelerate reform and transformation and optimize strategic measures. , seize development opportunities, guard against financial risks, and achieve greater growth in operating performance.
Southwest Securities also recently released an announcement on the 2023 annual performance increase, saying that the net profit attributable to shareholders of listed companies in 2023 will be approximately 572 million yuan to 665 million yuan, which will increase by approximately 263 million yuan to 665 million yuan compared with the same period last year. 356 million yuan, a year-on-year increase of approximately 85% to 115%. It is expected that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be approximately 565 million yuan to 656 million yuan in 2023. Compared with the same period last year, it will increase by approximately 260 million yuan to 351 million yuan, with the same increase year-on-year. 85% to 115%.
Southwest Securities believes that in 2023, the domestic economy will show a trend of low, medium and high, and then stable, and the overall recovery will be good. The company will focus on its main business, deepen reform and innovation, comprehensively promote digital transformation, deeply serve the real economy, and continuously improve comprehensive level of financial services. During the reporting period, the company’s investment income and income from changes in fair value increased significantly, and its overall operating performance increased significantly year-on-year.
In addition, the performance of securities firms that have previously undergone equity changes, mergers or “renames” has also attracted market attention.
For example, Maigao Securities was previously known as “Network Securities”. In 2022, Compass acquired 100% of its equity for 1.5 billion yuan and changed its name in 2023. This also means that 2023 is the first full year that Meigao Securities has experienced since its acquisition. According to the announcement, in 2023, Maigao Securities achieved operating income of 206 million yuan, a significant year-on-year increase of 240%; unaudited net profit was 4.9146 million yuan. However, since the company will have non-operating income of 2.89 billion yuan in asset restructuring in 2022, the net profit in 2023 is not comparable to the 2022 data.
Guosheng Securities doubled its net profit in 2023, with a net profit increase of 136.17%. According to the unaudited financial statements of Guosheng Securities for 2023 recently disclosed by Guosheng Financial Holdings, Guosheng Securities achieved a total operating income and net profit of 1.665 billion yuan and 222 million yuan respectively in 2023, both achieving year-on-year growth.
It is worth noting that Guosheng Financial Holdings recently announced that the board of directors has recently reviewed and approved the “Proposal on the Company’s Plan to Absorb and Merge its Wholly-Owned Subsidiary Guosheng Securities Co., Ltd.”, and plans to absorb and merge its wholly-owned subsidiary Guosheng Securities. If the regulatory authorities obtain approval With approval, the securities abbreviation will be changed to “Guosheng Securities” in the future.
However, SDIC Securities (formerly known as “Essence Securities”), which had previously changed its chairman and company name, saw a decline in performance in 2023. Data show that according to the “2023 Unaudited Financial Statements of SDIC Securities Co., Ltd.”, SDIC Securities achieved operating income of 10.576 billion yuan and net profit of 1.930 billion yuan in 2023. According to the 2022 annual report of SDIC Capital, Essence Securities (merged) achieved total operating income of 14.358 billion yuan and net profit of 2.619 billion yuan in 2022. Based on this calculation, the company’s operating income and net profit in 2023 will both shrink year-on-year.
Overall, although the performance of securities firms is somewhat differentiated, industry insiders believe that the base will be lowered after the overall performance of securities firms declines in 2022. Although investment banking, brokerage and other businesses are under pressure in 2023, the overall performance is still expected to be better than that in 2022.
According to data previously disclosed by the Securities Association of China, in 2022, 140 securities companies in the industry achieved operating income of 394.973 billion yuan and net profit of 142.301 billion yuan, down 21.02% and 25.11% year-on-year respectively.
West China Securities analysis said that based on calculations, based on the 45 listed securities firms, the total adjusted revenue in 2023 is expected to be 401.4 billion yuan, an increase of about 0.5% year-on-year in 2022. The operating income will vary depending on the scale of other business income of different securities firms. Deviation. Based on the assumption that listed securities companies will appropriately reduce their management expense rates, it is expected that the full-year net profit of 45 listed securities companies in 2023 will be 138.1 billion yuan, a year-on-year increase of approximately 9%.
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