On April 2nd, after all the annual reports of public funds were disclosed, the 2024 list of brokerage commission for sub positions was also released. Data shows that in 2024, securities firms will grab a share of the sub warehouse commission “cake” of 10.7 billion yuan, a decrease of 36% from 16.8 billion yuan in 2023 and a halving from 22 billion yuan in 2021, setting a record for the annual “three consecutive declines”. On an individual level, most securities firms have experienced a decline in their commission income from sub warehousing, with some even dropping by more than 70%, and only a few securities firms have risen against the trend. At the same time, the reshuffle of top brokerage research institutes has become more intense, and the ranking of sub warehouse commissions has undergone significant changes. The top five securities firms in terms of commission income from sub warehousing in 2024 are CITIC Securities, Guangfa Securities, Changjiang Securities, CITIC Securities, and Guolian Minsheng. Compared with the 2023 ranking, Changjiang Securities has “climbed to a higher level” and entered the top three, while Guolian Minsheng has entered the top five of the industry for the first time with its “marriage alliance” results.
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