[Net profits of listed securities companies in the first three quarters are expected to continue to grow] On October 21, the former Dongxing Securities and the former Cinda Securities announced their third quarter reports for 2026. The operating performance of the two securities companies in the first three quarters has diverged. Considering that A-share trading volume and overall market performance in the third quarter were weaker than in the second quarter, industry insiders believe that the net profits of A-share listed securities companies in the first three quarters are expected to maintain growth despite the pressure in the third quarter. As far as investment in the brokerage sector is concerned, industry insiders said that under the mismatch of valuation and ROE (return on net assets), the high cost performance of the brokerage sector is highlighted, and the increase in brokerage leverage and the improvement of the dividend mechanism are also expected to continue to improve the level of shareholder returns. In terms of specific products, we continue to be optimistic about the excess return opportunities of leading securities companies. (China Securities Journal)