Financials · 14.4

Securities Firms

Quantified news impact based on deduplicated, quality-reviewed events in a single 60-day window.

Average net impact+22weighted per event

Average gross impact28absolute weighted average

Events17same period

Confidence78%model average

Raw intensity61before weighting

Previous period0net impact

Gross changeInsufficient base

Diffusion speed0.3 / day

Concentration8%

Direction disagreement21%

Source independence97%16 sources

IMPACT TREND

60-day effective impact

Positive 13 · Negative 2 · Mixed 2

+250-25

5 Jun0 events

10 Jun0 events

15 Jun0 events

20 Jun0 events

25 Jun0 events

30 Jun0 events

5 Jul0 events

10 Jul0 events

15 Jul0 events

20 Jul0 events

+19

25 Jul9 events

+25

30 Jul8 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate0%0 cumulative effective impact

Short term63%296 cumulative effective impact

Medium term36%168 cumulative effective impact

Long term1%6 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 2 of 2 · 16 events

Macro3

Macro27 Jul, 08:40positive

SZSE Party Committee Outlines Six Priorities: Cultivating High-Quality Listed Companies, Supporting New

The Shenzhen Stock Exchange (SZSE) Party Committee has outlined six priorities for the 15th Five-Year Plan period, focusing on cultivating a cluster of high-quality listed companies, channeling capital into new quality productive forces, supporting traditional industries and small and medium-sized enterprises, enhancing market resilience, deepening reforms including ChiNext and Shenzhen-Hong Kong cooperation, and strengthening regulatory enforcement against misconduct.

Effective: +25
Intensity: 60
Confidence: 70%
Horizon: Medium term

Macro27 Jul, 08:00positive

First-Half General Public Budget Revenue Hits RMB 12.1 Trillion, Up 4.7%; Securities Transaction Stamp Duty

China's general public budget revenue in the first half reached RMB 12.1 trillion, up 4.7% year on year, matching GDP growth. Value-added tax grew 6%, corporate income tax rose 3.9%, and securities transaction stamp duty nearly doubled. Local government budgetary revenue increased 2.7%, with 28 of 31 provinces posting growth. The central government continued transfers to local authorities, exceeding RMB 10 trillion for four consecutive years.

Effective: +25
Intensity: 60
Confidence: 70%
Horizon: Short term

Macro27 Jul, 21:25mixed

Small and Medium Banks Cut Deposit Rates as Major Banks Offer 0.955% for One-Year Term

In the second half of 2026, multiple small and medium banks in Zhejiang, Jiangsu, Henan, and Guangdong lowered their posted deposit rates. The adjustments primarily target time deposit rates, with one-year rates at major state-owned banks standing at 0.955%. The net interest margin for China's commercial banks fell to 1.4% in the first quarter of 2026.

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

Companies2

Companies3 Aug, 17:30positive

Soochow Securities' Controlling Shareholder Plans to Increase Stake by 100-200 Million Yuan

Soochow Securities announced on August 3 that its controlling shareholder, Suzhou International Development Group Co. , Ltd. , intends to increase its shareholding in the company within a six-month period. The total investment amount is set to be no less than RMB 100 million and no more than RMB 200 million. The purchase will be executed through centralized bidding or other compliant trading methods, as per the company's official disclosure.

Effective: +10
Intensity: 30
Confidence: 60%
Horizon: Short term

Companies27 Jul, 17:44negative

Caida Securities Shareholder with Over 5% Stake Plans to Sell 2% in 2026

Caida Securities Co. , Ltd. announced that its shareholder Hebei State-owned Assets Holding Operation Co. , which holds more than 5% of the company's shares, intends to sell up to 64.9 million A-shares, equivalent to 2% of total share capital, during the period from August 19 to November 18, 2026. The reduction will be executed through centralized auction and block trading methods.

Effective: -6
Intensity: 30
Confidence: 80%
Horizon: Long term