CITIC Securities: Securities performance resilience remains, focus on brokers' "new dividend" value

CITIC Securities released a research report stating that it expects the securities industry's net profit to grow 32% year-on-year in the first three quarters of 2026, with earnings resilience remaining intact amid market adjustments. Currently, A/H-share brokerage valuations are at historical lows, with leading institutions' expected dividend yields reaching 4.0%/6.3% respectively, highlighting their value for dividend allocation. In the long term, business structure optimization, leverage expansion, and improved dividend mechanisms in the sector are expected to support higher shareholder returns.