First Batch of Brokerage Q3 Reports Released; Leading Brokers Show Profit Resilience

Brokerages have begun releasing their third-quarter reports. As of October 28, nine firms, including seven brokerages and four brokerage parent companies, had disclosed their first-three-quarter results, with Guosheng Securities excluded due to the lack of comparable prior-year data. Overall, affected by volatility in proprietary trading, several brokerages saw third-quarter performance come under pressure, but the industry's profit resilience remains intact. Multiple analysts expect brokerages' first-three-quarter earnings to continue their upward momentum. How to improve the stability of proprietary trading income and reduce the impact of proprietary trading volatility on overall performance has become a "compulsory question" for brokerages. (Securities Daily)