研報掘金丨中信建投:予東方證券“買入”評級,投資經紀雙輪驅動
中信建投證券研報指出,東方證券(600958.SH)2025年一季度營收同比+49.1%,歸母淨利潤同比+62.0%,ROE1.79%。一季度業績主要系經紀及投資業務支撐,投資業務收入同比增長164%,彈性強勁,經紀淨收入同比增長45%,二者爲淨利潤同比增長的核心驅動。具體分業務來看:2025一季度,公司經紀/ 投行/ 資管/ 投資/ 信用業務收入分別同比+45%/ +17%/ -17%/ +164%/ -26%至7.0/ 3.2/3.0/ 21.1/ 2.2億元,佔營收比分別爲13%/6%/6%/39%/4%,佔比相較去年同期分別+0%/ -2%/ -4%/ +17%/ -4%。給予“買入”評級。
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