Who are Zheshang Securities's main competitors?

Named competitors: CITIC Securities (600030.SS), Huatai Securities (601688.SS), Guotai Haitong Securities (601211.SS), Orient Securities (600958.SS), Everbright Securities (601788.SS), Soochow Securities (601555.SS). The cockpit's measured peer set (industry) also includes SDIC Capital (600061.SS), Avanza Bank (AZA.ST), MarketAxess (MKTX), Changjiang Securities (000783.SZ), Zhongtai Securities (600918.SS), Swissquote (SQN.SW).

Is Zheshang Securities expensive compared with its peers?

On forward p/e it trades at 13.0× against a peer median of 8.1×, 7th most expensive of 20 in its peer set.

How has Zheshang Securities stock performed?

Over six months to 6 Nov 2026 the shares returned -9.9% against -12.3% for the median peer; over one year -22.7%.

← CockpitCompetitor Analysis › 601878.SS Zheshang Securities Co. Ltd. Class AOpen in the cockpit ↗

Zheshang Securities Co. Ltd. Class A601878.SSCompetitor analysis, valuation and peers

China · CNY·Financials›Investment Banks/Brokers

Zhejiang provincial brokerage offering retail/institutional brokerage, investment banking and asset management.

Momentum strong 70

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$6.03B

US dollars, full cap

Free float

40%

of shares outstanding

$/day

$27.2M

20-day average traded

Fwd P/E

13.0×

forward earnings

ROIC−WACC

n/a

WACC 5.0%

Hurdle

n/a

no reverse DCF

Next earnings

132 days

18 Mar 2027

Close · CNYCN¥8.87

1D-0.8%

1W+4.1%

1M+0.3%

3M-7.7%

6M-9.9%

YTD-17.9%

1Y-22.7%

ATR %1.7%

52w lowhigh25.3% off high

What Zheshang Securities does

Zhejiang provincial brokerage offering retail/institutional brokerage, investment banking and asset management.

Products and services

Retail brokerage
Investment banking
Asset management

Customers

Retail investors
corporate issuers

Where it sits in the supply chain

Financial services
Securities brokerage
Brokerage, investment banking, asset…

What could go right

Trading-volume growth

What could go wrong

Trading-volume cyclicality
Regulatory fee pressure

Moat: none (brand). Regional state-owned brokerage without a clearly differentiated national franchise.

Headquarters: Hangzhou, Zhejiang, China · Founded: 1993 · Employees: 6,543

Named competitors

Zheshang Securities at a glance

Size Zheshang Securities (601878.SS) is a China Financials company (Investment Banks/Brokers) with a market value of $6.03B, the 412th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.87 on 6 Nov 2026.

Performance Over six months the shares fell 9.9%, against -12.3% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.

Growth Revenue fell 4.5% over the last twelve months (peer median +4.4%); the operating margin is 32.0% (peer median 36.2%).

Valuation It trades at 13.0× forward earnings against a peer median of 8.1× (7th most expensive of 20).

Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Zheshang Securities against the median of its 20 peers (local-currency closes).

Zheshang Securities financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥11.7B	CN¥10.5B	CN¥8.45B	CN¥19.3B	CN¥18.3B
Revenue growth	—	+25%	-56%	+6%	—
Gross profit	CN¥10.2B	CN¥9.64B	CN¥7.84B	CN¥6.89B	CN¥5.93B
EBITDA	n/a	CN¥5.22B	CN¥4.14B	CN¥4.00B	CN¥3.69B
Net income	CN¥2.81B	CN¥2.41B	CN¥1.93B	CN¥1.75B	CN¥1.65B
Free cash flow	-CN¥2.82B	-CN¥3.72B	CN¥6.00B	CN¥5.67B	CN¥286M
Capital expenditure	CN¥480M	CN¥496M	CN¥286M	CN¥244M	CN¥249M
Total debt	CN¥98.6B	CN¥92.1B	CN¥57.4B	CN¥57.2B	CN¥50.5B

Quarterly statements and history in the cockpit →

Zheshang Securities competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Zheshang Securities is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Zheshang Securities is the large dot.

Zheshang Securities competitors and peer comparison

Head to head with its named competitors (601878.SS vs 600030.SS vs 601688.SS vs 601211.SS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Zheshang Securities 601878.SS	$6.03B	-10%	-4%	32%	13.0×	n/a
CITIC Securities 600030.SS	$56.4B	-6%	-16%	54%	10.2×	n/a
Huatai Securities 601688.SS	$22.7B	-7%	-6%	38%	8.3×	n/a
Guotai Haitong Securities 601211.SS	$40.4B	+2%	+3%	44%	8.9×	n/a
Orient Securities 600958.SS	$10.00B	-10%	-5%	28%	11.1×	n/a
Everbright Securities 601788.SS	$8.70B	-9%	-4%	36%	14.6×	n/a
Soochow Securities 601555.SS	$5.64B	-5%	+3%	36%	10.3×	n/a
China Industrial Securities 601377.SS	$7.12B	-9%	-11%	29%	13.2×	n/a
Huaan Securities 600909.SS	$5.17B	+23%	-18%	121%	6.2×	n/a

How Zheshang Securities compares with its peers

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.

Zheshang Securities against its 20 peers (data as of 6 Nov 2026)
Measure	601878.SS	Peer median	Rank in peer set
1-month return	+0.3%	-6.1%	5th highest of 21
6-month return	-9.9%	-12.3%	10th highest of 21
Distance from 52-week high	-25.3%	-37.3%	9th highest of 21
Revenue growth (TTM)	-4.5%	+4.4%	5th lowest of 21
Operating margin	32.0%	36.2%	8th lowest of 21
Forward P/E	13.0×	8.1×	7th most expensive of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Zheshang Securities 601878.SS	China	$6.03B	-10%	-4%	32%	13.0×	n/a	n/a
SDIC Capital 600061.SS	China	$5.96B	-7%	-28%	33%	12.0×	n/a	n/a
Avanza Bank AZA.ST	Sweden	$5.95B	+13%	+13%	54%	19.1×	n/a	n/a
MarketAxess MKTX	United States	$5.83B	+12%	+3%	39%	19.5×	n/a	n/a
Changjiang Securities 000783.SZ	China	$5.77B	-13%	+13%	37%	8.1×	n/a	n/a
Zhongtai Securities 600918.SS	China	$6.31B	-12%	-4%	21%	17.1×	n/a	n/a
Swissquote SQN.SW	Switzerland	$6.33B	-13%	+4%	44%	15.9×	n/a	n/a
NHIS 005940.KS	South Korea	$6.46B	-32%	+156%	34%	5.2×	n/a	n/a
Soochow Securities 601555.SS	China	$5.64B	-5%	+3%	36%	10.3×	n/a	n/a
StoneX SNEX	United States	$6.55B	-33%	+21%	2%	13.0×	n/a	n/a
Allfunds ALLFG.AS	Netherlands	$6.69B	+18%	+1%	43%	20.5×	n/a	n/a
Guolian Minsheng Securities 1456.HK	Hong Kong	$6.70B	-29%	+14%	25%	6.8×	n/a	n/a
Galaxy Digital GLXY	United States	$5.31B	-55%	+430%	1%	n/a	n/a	n/a
Guangzhou Yuexiu Capital 000987.SZ	China	$5.20B	-23%	-44%	11%	7.6×	n/a	n/a
Huaan Securities 600909.SS	China	$5.17B	+23%	-18%	121%	6.2×	n/a	n/a
KIH 071050.KS	South Korea	$5.15B	-49%	+100%	51%	2.4×	n/a	n/a
Investec INVP.L	United Kingdom	$7.34B	+3%	-4%	37%	7.1×	n/a	n/a
Tianfeng Securities 601162.SS	China	$4.91B	-9%	-20%	3%	65.0×	n/a	n/a
BGC BGC	United States	$4.89B	-8%	+28%	9%	7.1×	n/a	n/a
SamsungSecu 016360.KS	South Korea	$4.87B	-31%	+19%	71%	4.0×	n/a	n/a
Mirae Asset Sec 006800.KS	South Korea	$7.57B	-66%	+5%	114%	4.0×	n/a	n/a

Questions

Who are Zheshang Securities's main competitors?: Named competitors: CITIC Securities (600030.SS), Huatai Securities (601688.SS), Guotai Haitong Securities (601211.SS), Orient Securities (600958.SS), Everbright Securities (601788.SS), Soochow Securities (601555.SS). The cockpit's measured peer set (industry) also includes SDIC Capital (600061.SS), Avanza Bank (AZA.ST), MarketAxess (MKTX), Changjiang Securities (000783.SZ), Zhongtai Securities (600918.SS), Swissquote (SQN.SW).
Is Zheshang Securities expensive compared with its peers?: On forward p/e it trades at 13.0× against a peer median of 8.1×, 7th most expensive of 20 in its peer set.
How has Zheshang Securities stock performed?: Over six months to 6 Nov 2026 the shares returned -9.9% against -12.3% for the median peer; over one year -22.7%.