The market may welcome an "Ant Securities," with A-shares and Hong Kong stocks securities sector rising together

How will the birth of AI · Ant Securities change the brokerage landscape?

On March 17, the securities sector opened high and continued to rise, with Guosen Securities up over 5%, Huatai Securities and GF Securities up over 3%, and others like CITIC Securities, Guotai Haitong, and Tianfeng Securities also gaining.

In Hong Kong stocks, brokerage stocks strengthened, with GF Securities and CITIC Securities up over 6%, Hongye Futures and Guotai Junan International up over 5%.

As of yesterday, the trading volume in the Shanghai and Shenzhen markets has exceeded 2 trillion yuan for the 15th consecutive trading day.

According to reports, since 2026, several listed brokerages or brokerage concept stocks, including Huaxia Securities, Hongta Securities, and Guo Investment Capital, have announced share repurchase or buyback plans to send confidence to the market with real funds. This aligns with institutional views that the brokerage sector offers both offensive and defensive investment opportunities. Industry insiders believe that driven by increased market activity, policy redemptions, and other factors, the brokerage sector is entering a window of fundamental and valuation resonance.

According to 21st Century Business Herald, on the evening of March 16, Yao Cai Securities Finance announced that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities and is expected to complete the settlement by March 30. The announcement also mentioned that the company’s stock was briefly suspended on the 16th and will resume trading on the 17th. Under regulatory requirements in both regions, this transaction requires approval. The Hong Kong Securities and Futures Commission approved it on September 23, 2025, with validity until March 23, 2026. The announcement also states that approval from the Hong Kong SFC has been extended to April 30. “Ant has always wanted to obtain a brokerage license, and it seems to have achieved that,” said a Hong Kong brokerage insider. Previously, it was reported that Ant has been testing securities functions internally for a long time, and the market may soon see the emergence of “Ant Securities.”

China Galaxy Securities pointed out that under the guidance of building a strong financial nation and deepening reforms in the capital market, the securities industry is expected to continue steady growth, optimize structure, and reshape the landscape. Factors such as moderate monetary policy easing, ongoing improvement of the capital market environment, and renewed investor confidence will jointly promote the sector’s prosperity. Currently, medium- and long-term funds are accelerating into the market, maintaining high activity levels. The capital market is expected to continue a “healthy bull” trend with high certainty through 2026. Transformation in wealth management, expansion of international business, and financial technology empowerment are all likely to drive the industry’s return on equity (ROE). Valuations in the sector are at historic lows, offering both defensive and rebound opportunities. Investment targets mainly focus on three areas: first, leading brokerages with strong comprehensive strength, such as CITIC Securities, Guotai Haitong, and Huatai Securities; second, mid- to large-sized brokerages with differentiated advantages in wealth management, proprietary trading, and cross-border businesses, such as Orient Securities and Eastmoney; third, small- and medium-sized brokerages with high earnings elasticity expectations.