FINANCE

China Brokerages Poised for Profit Surge in Bull Market

Published: Jan. 29, 2026 7:08 p.m. GMT+8

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A group of listed Chinese securities firms expected profits to have risen sharply in 2025, buoyed by a strong equity rally, with mergers also beginning to deliver gains.

As of late Wednesday, 12 listed brokerages had released upbeat earnings forecasts or preliminary results, signaling a broad improvement from a weak prior year.

The upswing followed a policy shift in late 2024 that lifted market sentiment and drove a sharp rise in trading activity.

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Chinese securities firms’ profits surged in 2025, driven by an equity rally and successful mergers.
Guolian Minsheng Securities projected over fivefold net profit growth; Guotai Haitong expected profits to more than double.
Sector-wide, revenue rose about 34% and net profit 49% in 2024, but brokerage stock valuations remain below historical averages.

AI generated, for reference only

Who’s Who

Guolian Minsheng Securities Co. Ltd.: Guolian Minsheng Securities Co. Ltd. anticipates a substantial increase in net profit, forecasting a more than fivefold jump. This impressive growth is attributed to the successful consolidation of Minsheng Securities Co. Ltd. and a low base effect from the previous year. This performance highlights the positive impact of mergers on profitability within the Chinese securities sector.

Minsheng Securities Co. Ltd.: Minsheng Securities Co. Ltd. is a Chinese brokerage firm. It was consolidated with Guolian Securities, forming Guolian Minsheng Securities Co. Ltd. This merger, alongside a low base effect, led Guolian Minsheng to forecast a more than fivefold jump in net profit for 2025, contributing to a broader industry upswing.

Guotai Haitong Securities Co. Ltd.: Guotai Haitong Securities Co. Ltd. is a Chinese securities firm that projected its net profit to more than double in 2025. This significant growth is attributed to "integration gains" beginning to materialize, suggesting benefits from a merger or operational consolidation. The company is part of a broader trend of Chinese brokerages experiencing sharp profit increases due to a strong equity rally and policy shifts.

Founder Securities Co. Ltd.: Founder Securities Co. Ltd. is a Chinese brokerage firm. A financial analyst named Xu Yishan, working at Founder Securities, estimated a significant increase in total revenue (34%) and net profits (49%) for Chinese mainland-listed brokerages last year. This growth was primarily due to strong brokerage and investment income.

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What Happened When

2024：: Several securities firms completed mergers, notably Guolian Minsheng Securities Co. Ltd. consolidated Minsheng Securities Co. Ltd.

2024：: Total revenue across Chinese mainland-listed brokerages rose about 34%, and net profits increased roughly 49%, according to Xu Yishan's report.

Late 2024：: A policy shift occurred that lifted market sentiment and drove a sharp rise in trading activity.

2025：: A group of listed Chinese securities firms expected profits to have risen sharply, buoyed by a strong equity rally and merger gains.

2025：: Guolian Minsheng Securities Co. Ltd. forecasted a more than fivefold jump in net profit, citing the merger in 2024 and a low base effect.

2025：: Guotai Haitong Securities Co. Ltd. projected net profit to more than double as integration gains began to materialize.

As of late Wednesday, January 29, 2026：: 12 listed brokerages had released upbeat earnings forecasts or preliminary results, signaling broad improvement from the weak prior year.

AI generated, for reference only