证券行业月度数据-2012-11-15.xls

安安信信证证券券证证券券行行业业月月度度数数据据 1总揽 1.1行业总揽 1.2公司总揽 2财务 2.1财报 2.2每月收入 2.3每月利润 2.4每月净资产 3经纪业务 3.1市场 3.2公司 4投行业务 4.1市场 4.2公司 5资产管理 6融资融券 7估值 8免责声明 本本月月简简评评 1、2012年10月份19家上市券商共实现营业收入33亿元，环比减少25%，同口径下同比减少10%；共实现净利润7亿元，环比减少42%，同口径下同比减少26%；10月末 ，19家上市券商的净资产合计为3559亿元，环比持平。 2、2012年1-10月累计日均交易量为1327亿元，同比减少28%；其中10月份单月日均股票成交额为1014亿元，同比下降22%，环比下降13%。 3、10月份总交易额同比上升37%，环比下降9%；股票成交额同比下降12%，环比下降21%；换手率为11%，较上月减少了3个百分点。 4、2012年10月实现股票连接融资208亿元，同比减少22%，环比增加24%，其中主要是增发金额环比增长了106亿元，首发及配股金额环比均出现显著减少。 5、截至10月底券商集合理财规模为1635亿元，国泰君安份额最高，为11.0%；中信证券份额为8.7%，排名第二。 6、截至10月底双融余额为770亿元，环比上升10%，融资融券余额占流通市值的比例为4.67；国泰君安市场份额最高为8.0%；前十名的券商占市场份额的62.7%。 7、行业盈利持续低迷，后续创新政策中部分可能对行业存在负面影响，如放开营业部设立标准等，我们维持行业同步大市-a的投资评级，首先低估值 、厚资本的券 商，如中信、海通、国元。 杨杨建建海海，cfa首首席席行行业业分分析析师师 执业证书编号s1450511020022 贺贺立立行行业业分分析析师师 执业证书编号 s1450512080004 本次实际更新时间：20121114 预计下次更新时间：20121212 单单位位：人人民民币币百百万万元元报告日期：2012年11月15日 1、2012年10月份19家上市券商共实现营业收入33亿元，环比减少25%，同口径下同比减少10%；共实现净利润7亿元，环比减少42%，同口径下同比减少26%；10月末 ，19家上市券商的净资产合计为3559亿元，环比持平。 2、2012年1-10月累计日均交易量为1327亿元，同比减少28%；其中10月份单月日均股票成交额为1014亿元，同比下降22%，环比下降13%。 3、10月份总交易额同比上升37%，环比下降9%；股票成交额同比下降12%，环比下降21%；换手率为11%，较上月减少了3个百分点。 4、2012年10月实现股票连接融资208亿元，同比减少22%，环比增加24%，其中主要是增发金额环比增长了106亿元，首发及配股金额环比均出现显著减少。 5、截至10月底券商集合理财规模为1635亿元，国泰君安份额最高，为11.0%；中信证券份额为8.7%，排名第二。 6、截至10月底双融余额为770亿元，环比上升10%，融资融券余额占流通市值的比例为4.67；国泰君安市场份额最高为8.0%；前十名的券商占市场份额的62.7%。 7、行业盈利持续低迷，后续创新政策中部分可能对行业存在负面影响，如放开营业部设立标准等，我们维持行业同步大市-a的投资评级，首先低估值 、厚资本的券 商，如中信、海通、国元。 杨杨建建海海，cfa首首席席行行业业分分析析师师 执业证书编号s1450511020022 贺贺立立行行业业分分析析师师 执业证书编号 s1450512080004 行行业业经经营营数数据据2008a2009a2010h12010a2011h1 证券公司数目107106106106109 营业收入1,2512,0507311,911751 经纪业务净收入8821,4194831,085410 承销与保荐净收入77152116272133 资产管理净收入15168229 财务顾问与咨询 投资收益（含公允价值）232420769 融资融券 净利润482933293776261 净资本2,8873,8323,9424,3194,357 净资产3,5854,8395,0535,6645,809 总资产12,00020,30018,00019,70016,700 关关键键指指标标2008a2009a2010h12010a2011h1 股票交易量526,8301,065,221450,2151,084,347493,914 日日均均1,0662,1741,9082,2402,075 股股票票佣佣金金率率0.167%0.133%0.107%0.100%0.083% roe13.4%19.3%5.8%13.7%4.5% 净利润率39%45%40%41%35% 税前利润6431,2443911,034347 费费用用率率49%39%47%46%54% 费用608807341877404 各各业业务务占占比比2008a2009a2010h12010a2011h1 经纪业务71%69%66%57%55% 投行业务6%7%16%14%18% 资管业务1%1%1%1%1% 自营业务0%11%1%11%9% 其他业务22%11%17%17%17% 单位：亿元 数据来源：证券业协会 2011a2012h12012m9 109112114 1,360706956 689273389 24189129 211017 1223 50195214 2236 394227263 4,6344,8184,829 6,3036,7166,800 15,70016,20015,600 2011a2012h12012m9 843,290349,845494,261 1,7351,4951,358 0.082%0.078%0.079% 6.2%3.4%3.9% 29%32%28% 525302351 61%57%63% 834404605 2011a2012h12012m9 51%39%41% 18%13%14% 2%1%2% 4%28%22% 26%20%22% 单位：百万元2010年 分类评级经纪业务收入佣金率()自营权益规模/净资本营业部数量 中信系7.2%0.92270 中信证券aa级1.9%0.7662% 中信金通aa级1.4%0.7047 中信万通bb级0.8%1.1239 长江系1.6%0.9686 长江证券a 级1.5%0.9126%86 长江承销a 级0.0%0 海通aa级4.5%1.1027%183 国元a 级1.1%1.0813%76 东北bbb 级1.0%1.3434%68 宏源a 级1.6%1.2528%78 国金bbb 级0.7%1.093%22 光大aa 级2.5%0.8118%107 西南bbb 级0.7%0.9838%41 招商aa 级3.3%0.8371%81 华泰系5.1%0.89201 华泰证券aa 级3.2%0.8732%129 华泰联合aa 级1.7%0.8372 兴业a 级1.1%0.7014%55 太平洋bbb 级0.4%1.4910%29 山西系0.8%1.3459 山西证券b 级0.8%1.349%59 中德证券b 级0.0%0 广发a 级5.0%1.0354%189 方正a 级1.7%0.9557%63 国海b 级1.3%53 西部 数据来源：公司资料，wind资讯 注注1 1：中中信信证证券券的的总总交交易易额额与与股股票票交交易易额额份份额额包包含含中中信信建建投投20102010年年1-101-10月月的的数数据据 注注2 2：华华泰泰联联合合证证券券、长长江江承承销销保保荐荐及及中中德德证证券券与与其其母母公公司司合合并并评评价价，母母公公司司分分类类结结果果适适用用于于子子公公司司 注注3 3：以以上上数数据据中中，交交易易额额、经经纪纪业业务务收收入入、基基金金分分仓仓、资资产产管管理理及及投投资资银银行行的的数数据据均均为为各各券券商商的的份份额额 2011年截至201202截至201203截至201204截至201205 总交易额股票交易额资产管理投资银行资产管理投资银行资产管理投资银行资产管理 5.98%5.67%9.21%5.89%10.28%4.41%9.72%4.97%9.40% 9.21%5.89%10.28%4.41%9.72%4.97%9.40% 2.24%1.72%4.14%0.21%4.55%0.28%4.00%3.57% 4.14%0.07%4.55%0.28%4.00%0.34%3.57% 0.14% 4.81%4.15%1.68%2.03%0.02%4.99%1.58%4.14%1.41% 1.31%1.14%0.48%0.17%0.48%0.03%0.50%0.09%0.44% 0.57%0.72%2.22%0.04%2.20%0.05%2.22%0.04%1.98% 1.24%1.29%2.76%0.98%2.74%2.13%2.93%1.90%2.62% 0.69%0.66%0.24%0.43%0.34% 2.80%2.96%6.54%0.71%6.49%0.46%6.39%0.52%5.71% 0.57%0.80%0.94%0.71%0.93%0.41%0.92%0.53%0.82% 4.19%3.80%4.54%1.28%4.99%0.83%5.02%1.08%4.49% 4.52%5.40%5.55%0.67%5.50%0.39%3.74%0.42%3.52% 5.55%0.15%5.50%3.74%3.52% 0.52%0.39%0.42% 1.76%1.66%2.62%0.29%2.59%0.23%2.31%0.31%2.20% 0.21%0.27%0.31%0.32%0.29% 0.57%0.59%0.94%0.61%0.10%0.58%0.08%0.52% 0.61%0.61%0.58%0.52% 0.94%0.10%0.08% 3.65%4.01%6.25%1.39%6.20%2.09%5.93%2.27%5.30% 1.19%1.72%1.63%0.49%1.60%0.08%1.48%0.06%1.33% 0.55%0.67%0.94%0.20%0.94%0.55%0.92%0.51%0.83% 0.23%0.20% 截至201206截至201207截至201208截至201209 投资银行资产管理投资银行资产管理投资银行资产管理投资银行资产管理投资银行 5.04%9.11%5.64%8.05%5.67%7.58%5.21%7.36%5.47% 5.04%9.11%5.64%8.05%5.67%7.58%5.21%7.36%5.47% 0.32%3.46%0.30%3.15%0.54%2.94%0.22%2.85%0.40% 0.32%3.46%0.30%3.15%0.54%2.94%0.22%2.85%0.40% 4.15%1.37%3.31%1.71%2.97%1.52%2.72%1.55%2.34% 0.07%0.43%0.06%0.42%0.07%0.38%0.06%0.37%0.05% 0.03%2.15%0.21%1.93%0.18%1.71%0.15%1.66%0.15% 1.64%3.51%1.39%4.00%1.38%3.55%1.47%3.45%1.39% 0.27%0.55%0.54%0.50%0.44% 0.42%5.54%0.51%5.40%0.47%5.93%0.55%5.76%0.46% 0.51%0.80%0.55%0.73%0.60%0.65%0.66%0.63%0.62% 0.86%4.35%1.15%4.33%1.35%4.43%1.40%4.30%1.23% 0.39%3.41%0.55%3.27%0.50%5.41%0.61%5.76%0.89% 3.41%3.27%5.41%5.76% 0.39%0.55%0.50%0.61%0.89% 0.26%2.13%0.29%2.09%0.28%2.52%0.31%2.45%0.32% 0.23%0.27%0.31%0.25%0.21% 0.06%0.50%0.19%0.44%0.19%0.29%0.27% 0.50%0.44%0.39%0.38% 0.06%0.19%0.19%0.29%0.27% 2.15%5.14%1.79%4.78%1.60%6.38%1.35%6.40%1.27% 0.22%1.29%0.18%0.93%0.20%0.82%0.25%0.80%0.41% 0.41%0.80%0.33%0.57%0.44%0.73%0.43%0.71%0.55% 0.20%0.19%0.02%0.17%0.02%0.17%0.01% 截至201205 截至201210 资产管理投资银行 8.75%5.37% 8.75%5.37% 2.52%0.43% 2.52%0.43% 1.41%2.15% 0.58%0.04% 1.44%0.13% 2.75%1.24% 0.39% 5.47%0.42% 0.57%0.55% 3.73%1.07% 5.62%0.88% 5.62% 0.88% 2.33%0.30% 0.18% 0.26% 0.46% 0.26% 5.91%1.16% 0.63%0.37% 0.65%0.52% 0.16%0.01% 代码 2009a 金额 20091231 营业收入经纪投行利息自营其他营业支出 600030中信22,00710,9222,4011,4013,4283,8548,746 600837海通9,9406,2743821,1249731,1874,210 000776广发10,4707,4532247101,1599244,323 601688华泰9,5637,4405356794075034,228 600999招商8,6804,7935152479832,1433,665 601788光大5,5943,6412425614287221,677 000783长江3,1942,0471621706861291,433 000728国元2,1851,539114166164203864 600369西南2,053895179112713155805 000562宏源2,9202,1381321673651181,355 000686东北1,9931,40213102358118803 600109国金1,4159781428914760744 601377兴业3,0851,685622105785501,439 002500山西1,5121,1755511466102699 601099太平洋83558765515730430 合计85,44652,9675,1655,90510,61110,79835,421 代码 2010q1 金额 20100331 营业收入经纪投行利息自营其他营业支出 600030中信4,0631,9103343464421,0312,008 600837海通2,2371,207173291226339903 000776广发1,9781,247130194173234808 601688华泰1,9431,255230201155103861 600999招商1,60285938610373181619 601788光大83965430159(183)179440 000783长江927409645737424379 000728国元528299101651548188 600369西南35718235308029181 000562宏源9434441074327376393 000686东北45426370245838194 600109国金2621949242212145 601377兴业559275145752161289 002500山西261208729125178 601099太平洋16210991032390 合计17,1179,5161,6991,6341,8052,4637,675 代码 2010h 金额 20100630 营业收入经纪投行利息自营其他营业支出 600030中信7,9053,7409947014472,0233,987 600837海通4,38222734986072947101948 000776广发3,6332423259386684971512 601688华泰3,5892418710443-1691861809 600999招商2,7671622693239-1343461154 601788光大1,9481229163370-223409969 000783长江1,2388008310619753601 000728国元937557127151-6108433 600369西南56935910459-2471371 000562宏源1,70981532380376115743 000686东北5104947250-18478383 600109国金81537440250-3322423 601377兴业1,1105655512541324604 002500山西59839088583328334 601099太平洋2472076123-5713182 合计31,95818,2674,6333,4496254,98515,454 代码 2010m9 金额 20100930 营业收入经纪投行利息自营其他营业支出 600030中信12,4215,5771,3881,0461,3633,0476,442 600837海通6,804334960595380910893105 000776广发6,12536084765767297362497 601688华泰5,72536378816912103052706 600999招商4,17523837753571744861729 601788光大3,2241841243572-25691473 000783长江2,2961207104154752781060 000728国元1,537830185231131159699 600369西南1,10653217891204100589 000562宏源2,59611834271206662011107 000686东北1,05272412676-7132634 600109国金1,24855057680240822 601377兴业1,8938711701852014661010 002500山西919573959011051510 601099太平洋47231010537-727307 合计51,59527,1786,3355,2615,3347,48724,689 代码 2010a 金额 20101231 营业收入经纪投行利息自营其他营业支出 600030中信27,7957,8092,9031,30311,5014,27911,526 600837海通9,76848649201366108215374935 000776广发10,219543079879620801,1154578 601688华泰8,900551614759715523874400 600999招商6,486357912244985086782584 601788光大5,05427484807333297632201 000783长江3,19917531692099291401579 000728国元2,24212262493302441921054 600369西南1,936786354165442190893 000562宏源3,30517254671606932601565 000686东北1,70011101451001182261016 600109国金1,64580161311255631072 601377兴业2,73812352352642967081544 002500山西1,496868239134142113914 601099太平洋67546312252137431 合计87,15739,91210,3937,19318,97110,68740,290 代码 2011q1 金额 20110331 营业收入经纪投行利息自营其他营业支出 600030中信3,4471,0882363588449211,670 600837海通2,66910312664455473801075 000776广发1,7261020154154180217873 601688华泰1,90610784202729245981 600999招商1,665765307161280152645 601788光大1,341590179270155148576 000783长江729395175123432320 000728国元5902531631051356260 600369西南5741641726113838188 000562宏源81338512446156101364 000686东北3752375216547238 600109国金478178220432315277 601377兴业76125412279116190416 002500山西272190665-314228 601099太平洋264975611918144 合计17,6097,7262,4462,1412,9322,3658,257 代码 2011h 金额 20110630 营业收入经纪投行利息自营其他营业支出 600030中信7,5082,0425817032,3431,8393,508 600837海通5,2471,8395361,0219978522,195 000776广发3,2711,8464093322004831,563 601688华泰3,3952,0295795601061211,862 600999招商3,2451,3667113285003401,340 601788光大2,6501,0884544912553611,201 000783长江1,0967077810613470631 000728国元1,03546620419560109511 600369西南8212972341307089406 000562宏源1,55567827988259251739 000686东北5784191944492470 600109国金704330229843031446 601377兴业1,387474199154229331791 002500山西54434834131(6)37403 601099太平洋4551721162912513273 601901方000750国海7504661289(8)155515 合计35,20815,2374,8114,5765,3045,28117,457 代码 2011q3 金额 20110930 营业收入经纪投行利息自营其他营业支出 600030中信9,4502,9051,1241,0551,6412,7244,933 600837海通6,9502,5477391,5317901,3433,248 000776广发4,3252,568594577(158)7442,377 601688华泰4,3422,862694934(363)2152,544 600999招商4,2451,8999155093905321,881 601788光大3,5201,535595713736041,793 000783长江1,3381,01696192(77)110967 000728国元1,315657204354(43)143759 600369西南699417278201(347)149608 000562宏源1,874923310139208293976 000686东北6785772474(134)137718 600109国金9344882461331552636 601377兴业1,7937192722411224391,124 002500山西76447148216(20)49594 601099太平洋5502361394311419374 601901方正1,29992296314(182)1491,014 000750国海84665212715(184)236770 合计44,92121,3936,5047,2411,8457,93825,318 代码 2011a 金额 20111231 营业收入经纪投行利息自营其他营业支出 600030中信25,0333,5711,4851,40114,3934,18310,022 600837海通9,2933,0418392,0931,5071,8125,125 000776广发5,9463,0637638801831,0573,442 601688华泰6,2303,5918491,2542363003,791 600999招商5,2252,2699926896086672,664 601788光大4,4981,8616989082807512,511 000783长江1,8641,259135284321541,395 000728国元1,775792277531141601,078 600369西南1,040508516270(373)120821 000562宏源2,3541,0893641923573511,474 000686东北8106884299(191)172988 600109国金1,0805792461764931773 601377兴业2,3158123213142176511,620 002500山西1,098556156304(10)93837 601099太平洋6662801635414227464 601901方正1,7091,130129534(289)2051,377 000750国海1,27181220018(77)3171,120 601555东吴1,298797335153(42)55991 合计73,50426,6978,51010,15617,03611,10540,492 代码 2012q1 金额 20120331 营业收入经纪投行利息自营其他营业支出 600030中信2,3897483003527422461,285 600837海通2,426616224541677368996 000776广发1,790608439255251237956 601688华泰1,574747146264301117944 600999招商1,251478129123361160583 601788光大96942138178156177528 000783长江582268208218924347 000728国元431164161427435241 600369西南35399344714034143 000562宏源9012362143831895539 000686东北2621394828642205 600109国金33710997434741239 601377兴业6661691671220189419 002500山西2511032887(0)35180 601099太平洋1185625728296 601901方正494234121721858310 000750国海35118944(1)5564254 601555东吴3211572470619236 002673西部209134060124132 合计15,6765,6741,8542,5563,6561,9378,631 代码 2012h1 金额 20120630 营业收入经纪投行利息自营其他营业支出 600030中信5,7881,5618966941,8757632,918 600837海通5,0641,2373751,0901,4968672,270 000776广发3,9831,2587055359894962,090 601688华泰3,3951,4783365458212141,996 600999招商2,5679432172678413001,398 601788光大2,1138151093495373031,143 000783长江1,2285416419137558708 000728国元8443174625315969484 600369西南705195879523890351 000562宏源1,83545331098776197973 000686东北610273137575489480 600109国金8052582567715064539 601377兴业1,40133830138533362920 002500山西490202291594357391 601099太平洋309107562211410214 601901方正1,10448731316166105657 000750国海788366557229133568 601555东吴6583092611717729471 002673西部46025601124844323 合计34,14711,3933,7635,1209,6214,24918,895 代码 2012q3 金额 20120930 营业收入经纪投行利息自营其他营业支出 600030中信8,1482,2411,3789772,6788734,421 600837海通6,8941,7715711,4932,2068523,615 000776广发5,3531,7888698031,5223713,053 601688华泰4,5132,1004878441,057242,797 600999招商3,5861,3563164111,3091932,122 601788光大2,8421,1831385306513401,682 000783长江1,70479090306436821,023 000728国元1,1564446335522173706 600369西南812271126139286(11)568 000562宏源2,4386294662208882351,366 000686东北86738215395116121719 600109国金1,136353370112187114825 601377兴业1,926499721917004641,304 002500山西7732851142227083647 601099太平洋3501519933172(105)315 601901方正1,545699894492031041,090 000750国海1,09951810827280166860 601555东吴9894476316826447720 002673西部692352271738654474 合计46,82416,2605,6017,54813,3314,08328,306 数据来源：公司资料，wind资讯 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 8,98450%40%24%41% 4,54863%42%23%46% 4,92571%41%0%47% 3,79578%44%23%40% 3,72855%42%22%43% 2,82765%30%26%51% 1,37264%45%26%43% 1,03770%40%21%47% 1,00744%39%21%49% 1,15273%46%26%39% 91370%40%23%46% 51669%53%26%37% 1,15555%47%25%37% 61978%46%27%41% 40570%51%0%49% 36,98362%41%43% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 1,49947%49%21%37% 1,01154%40%24%45% 87063%41%22%44% 82665%44%23%43% 78154%39%21%49% 34378%52%28%41% 41344%41%25%45% 26357%36%23%50% 13151%51%26%37% 42047%42%24%45% 20158%43%23%44% 8874%55%26%34% 17049%52%25%30% 5880%68%52%22% 7167%56%0%44% 7,14556%45%42% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 2,62847%50%24%33% 1,84252%44%23%42% 1,64067%42%21%45% 1,42067%50%19%40% 1,36959%42%15%49% 82963%50%26%43% 49165%49%25%40% 42259%46%17%45% 16163%65%18%28% 73148%44%24%43% 11097%75%19%22% 29646%52%25%36% 33651%54%25%30% 20665%56%24%34% 5684%74%13%23% 12,53957%48%39% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 金额 金额 金额 金额 4,02345%52%24%32% 2,75449%46%23%40% 2,73659%41%22%45% 2,40064%47%19%42% 2,05357%41%16%49% 1,39157%46%25%43% 94553%46%25%41% 67454%45%20%44% 40348%53%22%36% 1,12646%43%24%43% 33069%60%22%31% 33344%66%26%27% 59446%53%25%31% 30562%55%29%33% 14966%65%10%32% 20,21553%48%39% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 11,31128%41%26%41%26%-29%21% 3,68650%51%23%38%-2%-22%141% 4,02753%45%26%39%-2%-27%255% 3,42562%49%23%38%-7%-26%176% 3,22955%40%18%50%-25%-25%138% 2,20054%44%25%44%-10%-25%98% 1,28355%49%24%40%0%-14%4% 92555%47%23%41%3%-20%118% 80541%46%23%42%-6%-12%98% 1,30652%47%26%40%13%-19%255% 52765%60%23%31%-15%-21%982% 43849%65%28%27%16%-18%333% 78745%56%25%29%-11%-27%280% 43958%61%26%29%-1%-26%332% 20469%64%17%30%-19%-21%2029% 34,59346%46%40%2%-25%101% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 1,35732%48%23%39%-15%-43%-29% 1,18539%40%24%44%19%-15%54% 66659%51%22%39%-13%-18%18% 69557%51%25%36%-2%-14%83% 79446%39%22%48%4%-11%-20% 56344%43%25%42%60%-10%493% 33354%44%18%46%-21%-3%-74% 25443%44%24%43%12%-15%62% 29829%33%26%52%61%-10%385% 33947%45%24%42%-14%-13%15% 10563%64%23%28%-18%-10%-93% 15637%58%26%33%82%-9%2281% 21133%55%25%28%36%-8%789% 3570%84%57%13%4%-9%-14% 9237%55%23%35%63%-11%557% 7,08244%47%40%3%-19%44% 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 2,97327%47%25%40%-5%-45%-42% 2,23535%42%24%43%20%-19%8% 金额 金额 金额 1,34356%48%22%41%-10%-24%58% 1,14460%55%24%34%-5%-16%-19% 1,47642%41%23%45%17%-16%3% 1,13041%45%23%43%36%-12%179% 41565%58%23%38%-11%-12%-5% 44045%49%17%42%10%-16%61% 33536%49%24%41%44%-17%125% 61444%48%25%39%-9%-17%-14% 8972%81%19%15%13%-15%-73% 20547%63%27%29%-14%-12%-43% 38234%57%24%28%25%-16%263% 11464%74%29%21%-9%-11%-62% 13538%60%27%30%85%-17%91% 28869%62%25%30% 15562%69%26%21% 13,473 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 3,33331%52%26%35%-24%-48%-19% 2,72937%47%23%39%2%-24%22% 1,56059%55%22%36%-29%-29%25% 1,33266%59%25%31%-24%-21%-21% 1,85745%44%22%44%2%-20%18% 1,37544%51%23%39%9%-17%145% 33076%72%27%25%-42%-16%-7% 45950%58%18%35%-14%-21%10% 20260%87%43%29%-37%-22%57% 68049%52%24%36%-28%-22%-27% (18)85%106%50%-3%-36%-20%-81% 23552%68%27%25%-25%-11%-57% 41040%63%25%23%-5%-17%61% 13962%78%29%18%-17%-18%-50% 12243%68%33%22%17%-24%32% 22071%78%28%17% 3277%91%34%4% 14,997 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 12,57614%40%16%50%90%46%51% 3,10333%55%24%33%95%63%91% 2,06452%58%20%35%58%56%96% 1,78458%61%26%29%70%65%58% 2,00843%51%22%38%81%63%81% 1,54441%56%25%34%89%68%145% 43568%75%32%23%58%72%80% 56345%61%20%32%79%65%111% 26349%79%33%25%54%65%146% 64646%63%27%27%71%63%78% (152)85%122%10%-19%48%62%29% 23254%72%30%21%66%72%40% 43535%70%28%19%85%66%137% 19351%76%30%18%73%64%65% 15742%70%24%24%99%60%134% 25766%81%32%15% 7664%88%35%6% 23261%76%28%18% 金额 金额 26,416 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 86331%54%24%36%69%69%127% 1,04925%41%23%43%91%60%84% 65134%53%22%36%104%60%285% 48147%60%23%31%83%69%35% 53738%47%20%43%75%62%42% 34143%55%21%35%72%71%21% 17946%60%25%31%80%68%116% 15538%56%18%36%73%65%10% 16028%40%23%45%62%60%20% 27626%60%24%31%111%61%173% 4953%78%23%19%70%59%983% 7232%71%27%21%71%61%44% 16825%63%25%25%87%67%13% 5441%72%23%21%92%54%456% 1647%81%24%14%45%57%45% 13847%63%26%28% 6554%72%25%19% 6149%74%25%19% 5764%63%26%27% 5,374 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 2,24927%50%23%39%77%76%154% 2,02624%45%23%40%97%67%70% 1,47032%52%22%37%122%68%172% 1,05844%59%23%31%100%73%58% 94937%54%20%37%79%69%30% 82939%54%23%39%80%75%24% 40544%58%27%33%112%77%81% 29738%57%18%35%81%68%23% 28228%50%21%40%86%66%37% 64425%53%25%35%118%67%111% 12345%79%14%20%106%65%709% 19932%67%26%25%114%78%112% 34624%66%28%25%101%71%15% 8641%80%24%17%90%58%87% 7135%69%26%23%68%62%48% 33944%60%26%31% 14946%72%25%19% 13547%72%27%21% 10256%70%27%22% 11,760 比率同比 净利润经纪业务占比成本收入比税率净利率营业收入经纪投行 2,92028%54%23%36%-14%-23%23% 2,44026%52%23%35%-1%-30%-23% 1,81133%57%22%34%24%-30%46% 1,34547%62%20%30%4%-27%-30% 1,21738%59%18%34%-16%-29%-65% 95942%59%24%34%-19%-23%-77% 55146%60%23%32%27%-22%-7% 37138%61%18%32%-12%-32%-69% 金额 金额 金额 20233%70%17%25%1