Hong Kong Stock Concept Tracking | Many brokerage firms anticipate semi-annual results, Chinese brokerage firms may usher in valuation repairs (with concept stocks)
The Zhitong Finance App learned that in the first half of 2026, A-share market trading was significantly active. The average daily share base turnover of the Shanghai and Shenzhen markets was 3.24 trillion yuan, +101.0% over the same period last year.
Among them, the average daily share base turnover of the Shanghai and Shenzhen markets in 2026Q2 was 3.35 trillion yuan, +125.45% year-on-year and +7.31% month-on-month.
The issuance of partial equity funds picked up at the same time. In 2026H1, 492.3 billion shares were newly established, with a share of +88.33% over the same period last year.
The agency expects a significant increase in brokerage revenue in 2026H1, +74.85% year over year.
CICC's research report estimates that in the first half of 2026, 42 listed brokerage firms will achieve a total net profit of 142.5 billion yuan, an increase of 50% over the previous year.
In the first half of the year, A-share trading volume, recovery in investment banking business, and the strength of brokers' own business were the main drivers of rapid growth in brokers' performance.
With the recovery of IPOs and the catalytic trend in the science and innovation market, “content” is becoming the core competitiveness of brokerage firms.
According to the CITIC Securities Research Report, the draft for comments on the new refinancing regulations closely follows the core orientation of serving the real economy, improving the inclusiveness and adaptability of the capital market, and preventing systemic risks. It focuses on the dual promotion of “unbundling and restraint”, introducing a shelf issuance system, revising the upper limit of small-amount rapid financing, and establishing a market price pricing mechanism, which is expected to reduce the financing costs and time costs of high-quality companies. This revision is the first time since the full registration system was implemented in February 2023 that the refinancing system has been systematically optimized, and it is expected that it will continue to strengthen the sustainability of the recovery of securities companies' investment banking business. It is recommended to focus on high-quality medium-sized brokerage firms with outstanding industrial resources and leading brokerage firms with strong investment banking business capabilities.
The Chinese brokerage sector involves relevant Hong Kong stocks:
Huatai Securities (06886), Guangfa Securities (01776), China Galaxy (06881), Cathay Pacific Haitong (02611), CITIC Securities (06030), CITIC Securities (06066), Orient Securities (03958), Everbright Securities (06178), Shenwan Hongyuan (06806), Zhongzhou Securities (01375), Guomin Liansheng (01456), etc.