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One of China's largest brokerages, offering retail/institutional brokerage, investment banking, asset management and proprietary trading.
One of China's largest brokerages, offering retail/institutional brokerage, investment banking, asset management and proprietary trading.
Earns commissions on customers' share trades, interest on loans that let customers buy shares on margin, fees for underwriting share and bond sales, and gains on its own investments, so earnings swing with market activity. Jiangsu province state-owned groups are among its largest shareholders.
In one line: A Chinese Morgan Stanley/Charles Schwab hybrid.
Moat: narrow (scale, brand, distribution). Top-tier brokerage licence and scale, with a leading mobile trading app and retail market share.
Headquarters: Nanjing, China · Founded: 1991 · Employees: 15,511
Size Huatai Securities (601688.SS) is a China Financials company (Investment Banks/Brokers) with a market value of $22.7B, the 91st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.84 on 6 Nov 2026.
Performance Over six months the shares fell 6.8%, against -0.3% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 6.4% over the last twelve months (peer median +14.4%); the operating margin is 38.3% (peer median 36.4%).
Valuation It trades at 8.3× forward earnings against a peer median of 14.2× (3rd cheapest of 21).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥46.9B | CN¥52.0B | CN¥40.7B | CN¥53.1B | CN¥38.0B |
| Revenue growth | — | +28% | -23% | +40% | — |
| Gross profit | CN¥34.9B | CN¥44.1B | CN¥32.7B | CN¥43.5B | CN¥28.8B |
| EBITDA | n/a | CN¥24.6B | CN¥17.4B | CN¥23.4B | CN¥20.3B |
| Net income | CN¥18.7B | CN¥15.6B | CN¥14.6B | CN¥12.2B | CN¥10.6B |
| Free cash flow | CN¥136B | CN¥69.6B | -CN¥24.5B | CN¥19.3B | CN¥54.5B |
| Capital expenditure | CN¥1.61B | CN¥1.22B | CN¥1.81B | CN¥1.68B | CN¥1.43B |
| Total debt | CN¥581B | CN¥485B | CN¥328B | CN¥408B | CN¥365B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Huatai Securities 601688.SS | $22.7B | -7% | -6% | 38% | 8.3× | n/a |
| CITIC Securities 600030.SS | $56.4B | -6% | -16% | 54% | 10.2× | n/a |
| Guotai Haitong Securities 601211.SS | $40.4B | +2% | +3% | 44% | 8.9× | n/a |
| GF Securities 000776.SZ | $20.9B | -10% | +37% | 42% | 7.8× | n/a |
| China Merchants Securities 600999.SS | $20.1B | +3% | -8% | 76% | 6.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 601688.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +0.1% | 10th highest of 21 |
| 6-month return | -6.8% | -0.3% | 8th lowest of 21 |
| Distance from 52-week high | -30.7% | -15.0% | 4th lowest of 21 |
| Revenue growth (TTM) | -6.4% | +14.4% | 5th lowest of 21 |
| Operating margin | 38.3% | 36.4% | 10th highest of 21 |
| Forward P/E | 8.3× | 14.2× | 3rd cheapest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huatai Securities 601688.SS | China | $22.7B | -7% | -6% | 38% | 8.3× | n/a | n/a |
| LPL Financial LPLA | United States | $23.0B | -3% | +31% | 13% | 10.5× | n/a | n/a |
| China International Capital 601995.SS | China | $21.6B | -18% | -20% | 55% | 10.0× | n/a | n/a |
| GF Securities 000776.SZ | China | $20.9B | -10% | +37% | 42% | 7.8× | n/a | n/a |
| Euronext ENX.PA | France | $18.8B | +21% | +14% | 52% | 19.7× | n/a | n/a |
| Yuanta Financial Holding Co. Lt 2885.TW | Taiwan | $28.1B | +28% | +78% | 28% | 14.2× | n/a | n/a |
| Tradeweb Markets TW | United States | $29.7B | +17% | +14% | 44% | 27.9× | n/a | n/a |
| Singapore Exchange S68.SI | Singapore | $17.2B | -2% | +14% | 57% | 27.0× | n/a | n/a |
| BSE BSE.NS | India | $16.4B | -4% | +58% | 65% | 47.0× | n/a | n/a |
| China Galaxy Securities 601881.SS | China | $16.1B | -8% | -20% | 37% | 9.5× | n/a | n/a |
| Meritz Financial 138040.KS | South Korea | $15.7B | +18% | +31% | 49% | 8.6× | n/a | n/a |
| Shenwan Hongyuan 000166.SZ | China | $15.5B | -8% | -26% | 31% | 10.9× | n/a | n/a |
| Coinbase COIN | United States | $35.7B | -33% | -48% | -33% | 99.3× | n/a | n/a |
| Daiwa Securities 8601.T | Japan | $14.0B | +11% | +18% | 17% | 10.8× | n/a | n/a |
| Cboe Global Markets CBOE | United States | $36.9B | +2% | +14% | 36% | 23.4× | n/a | n/a |
| Futu Holdings Ltd. Sponsored ADR FUTU | United States | $13.7B | -32% | +44% | 69% | 6.8× | n/a | n/a |
| Japan Exchange 8697.T | Japan | $13.4B | +11% | +40% | 61% | 19.7× | n/a | n/a |
| TMX X.TO | Canada | $12.1B | +10% | +4% | 28% | 22.8× | n/a | n/a |
| State Street STT | United States | $45.0B | +11% | +2% | 33% | 11.1× | n/a | n/a |
| Freedom FRHC | United States | $11.4B | +28% | +8% | 29% | 39.7× | n/a | n/a |
| Evercore EVR | United States | $10.9B | -17% | +37% | 22% | 14.2× | n/a | n/a |