The billions in dividends from listed brokerages are being paid out gradually. Thirty listed brokerages have completed distribution of 2025 cash dividends before July 31, 2026, while another ten have announced profit distribution plans without a set implementation date. Data shows that 40 listed brokerages declared cumulative dividends exceeding 70 billion yuan (RMB) for 2025, a record high. Meanwhile, several brokerages are pursuing share buyback plans or canceling previously repurchased shares to boost earnings per share.
The China Securities Regulatory Commission (CSRC) on July 31 published nine investment-banking supervision decision letters, which together with a Shanghai bureau warning letter led to sanctions against seven securities firms, including GF Securities, Century Securities, Hongta Securities, Guoyuan Securities, Guorong Securities, Yongxing Securities and Guotai Haitong Securities. Common deficiencies included lax quality control, inadequate due diligence and internal governance weaknesses. Three firms were ordered to take corrective measures, and senior executives received warning letters. Separately, Hebei regulator fined Zhongtian Guofu Securities RMB 43.0528 million for fraudulent issuance.