China’s largest brokerage, CITIC Securities, posted a sharp rise in earnings in the first half of 2026.

China’s largest brokerage, CITIC Securities, posted a sharp rise in earnings in the first half of 2026, driven primarily by a rebound in client trading and a revival in dealmaking activity. A technology‑led recovery in Chinese equities boosted market turnover and lifted investment banking fees, giving the firm a strong tailwind during the period. Net profit reached 23.34 billion yuan, a 70% increase from a year earlier and well above analyst expectations. Fee based income was a major contributor, with brokerage fees climbing 53.9% to 9.86 billion yuan and investment banking fees rising 44.1% to 3.02 billion yuan, alongside higher asset‑management revenue.

The breakdown of results shows that CITIC’s profit surge was not driven by its own investment performance. Investment income fell 32% to 14.22 billion yuan, underscoring that the firm’s momentum came from client activity rather than proprietary gains. CITIC noted that China’s economy is experiencing a “K‑shaped divergence,” with technology and AI‑related industries powering ahead while other sectors lag. This dynamic has helped fuel trading enthusiasm and deal flow in areas tied to high‑growth tech segments.

CITIC’s strong performance mirrors a broader trend among major Chinese brokerages. Guotai Haitong Securities reported first‑half operating revenue of 47.16 billion yuan, up 97.56%, and net profit attributable to shareholders of 20.26 billion yuan, up 28.74%. However, these figures are influenced by the merger of Guotai Junan and Haitong Securities, meaning the growth cannot be viewed as entirely organic. Even so, the combined entity’s scale highlights the sector’s expanding revenue base during a period of heightened market activity.

Other leading firms have also posted improved results across different reporting periods. Huatai Securities recorded 2025 revenue of 47.22 billion yuan and net profit of 16.38 billion yuan, while GF Securities reported first‑quarter 2026 operating revenue of 7.24 billion yuan, a 46.3% increase, with profit reaching 2.76 billion yuan. Together, these results point to a broad recovery in China’s brokerage industry, supported by rising trading volumes, stronger capital‑market sentiment, and increased dealmaking linked to the country’s fast‑growing technology sectors.