Financials · 14.4

Securities Firms

Quantified news impact based on deduplicated, quality-reviewed events in a single 200-day window.

Average net impact+27weighted per event

Average gross impact28absolute weighted average

Events12same period

Confidence78%model average

Raw intensity62before weighting

Previous period0net impact

Gross changeInsufficient base

Diffusion speed0.1 / day

Concentration12%

Direction disagreement4%

Source independence98%15 sources

IMPACT TREND

200-day effective impact

Positive 9 · Negative 1 · Mixed 2

+270-27

12 Jan0 events

29 Jan0 events

15 Feb0 events

3 Mar0 events

20 Mar0 events

6 Apr0 events

22 Apr0 events

9 May0 events

26 May0 events

11 Jun0 events

28 Jun0 events

+27

15 Jul12 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate0%0 cumulative effective impact

Short term73%241 cumulative effective impact

Medium term25%84 cumulative effective impact

Long term2%7 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 2 of 2 · 12 events

Macro1

Macro27 Jul, 21:25mixed

Multiple Small and Medium Banks Cut RMB Deposit Rates; State Banks' 1-Year Rate 0.955%, NIM 1.4%

In the second half of 2026, multiple small and medium banks in Zhejiang, Jiangsu, Henan, and Guangdong reduced deposit rates. Wenzhou Bank set 1-year fixed deposit rate at 1.4%, while Dinghai Deshang Village Bank cut its 1-year rate by 0.1 percentage point to 1.4%. State-owned banks' 1-year rate stood at 0.955% on July 22. The commercial banking sector's net interest margin fell to 1.4% in the first quarter of 2026, down 0.02 percentage point from the previous quarter.

Effective: 0
Intensity: 60
Confidence: 75%
Horizon: Short term

Industries1

Industries29 Jul, 19:49mixed

Securities Industry Matthew Effect Deepens into Three-Tier Stability; CITIC Net Profit Equals Bottom 35

The Matthew effect in China's securities industry is intensifying, forming a three-tier stable pattern. In the first quarter, CITIC Securities' net profit of RMB 10.216 billion equaled the combined net profit of the bottom 35 brokerages. The top three firms dominated brokerage (26.85%), asset management (57.21%), and investment banking (88.53%) revenue. In IPO underwriting, the top three held nearly 40% of projects, six firms captured over 70% of funds, and the top three took over half of underwriting fees. External M&A since 2023, including major mergers, is accelerating concentration.

Effective: 0
Intensity: 65
Confidence: 85%
Horizon: Long term

Companies0

No evidence on this page.