Over 30 A-share Listed Brokers See Asset Management Revenue Growth in H1 2026; CITIC Securities Leads with RMB

In the first half of 2026, more than 30 listed brokers reported year-on-year growth in asset management business revenue. CITIC Securities, Guotai Haitong, and Huatai Securities ranked among the top three by revenue scale, each exceeding RMB 2.4 billion. China Merchants Securities, CSC Financial, CICC, and Shenwan Hongyuan also posted leading revenue figures, indicating that top-tier brokers continue to maintain their edge in asset management.

CITIC Securities recorded asset management revenue of RMB 8.003 billion in the first half, up 33% year on year. The company's interim report noted that the industry is entering a phase of quality enhancement and structural optimization, with asset managers pursuing differentiated competition. Guotai Haitong's asset management business, closely aligned with the development of Shanghai as a global asset management center, saw its managed scale grow and achieved record operating results for the period, with private QDII pooled products expanding rapidly. China Merchants Securities' subsidiary, China Merchants Asset Management, focused on enhancing active management capabilities and building a private FOF product line. As of the end of June 2026, CMB International's total asset management scale reached HKD 35.981 billion, up 63.01% from the end of 2025.

Industrial Securities reported asset management revenue of RMB 1.945 billion in the first half, up 35.6% year on year, surpassing its institutional and trading business to rank second among the company's major business lines. Sinolink Securities' asset management revenue reached RMB 512 million, up nearly 80% year on year, with its REITs business successfully issuing five products totaling RMB 9.366 billion, maintaining market leadership in both scale and number of deals. Zhongtai Securities' asset management revenue was RMB 1.475 billion, up 24.54% year on year, ranking second only to its wealth management business.

In the second half of the year, CITIC Securities plans to strengthen its investment research team pipeline, optimize asset allocation strategies, and deepen client segmentation services. Guotai Haitong will advance the development of a digital and intelligent investment research system, enhance active management capabilities, and promote cross-border business collaboration. Industrial Securities will refine its multi-strategy platform and build a product matrix rooted in client needs. Sinolink Securities will improve its research capabilities and macro asset allocation expertise, with its fund management subsidiary adhering to a path of specialization and excellence.