研報掘金丨東吳證券:維持湘財股份“增持”評級,財富管理轉型出奇制勝
東吳證券研報指出,湘財股份歷經多次戰略轉型,近年資本運作與科技賦能不斷加速。2025年,公司啓動吸收合併大智慧計劃,擬通過“券商+金融科技”模式整合流量與技術資源,打造差異化競爭力。證券業務爲主要收入來源,2023年以來湘財證券業績觸底回升。湘財股份2023年以來證券板塊收入佔比維持在70%以上,2024年實業板塊持續收縮。湘財證券以經紀和信用業務爲主要營收來源,其財富管理能力相對突出。與大智慧合併將有助於進一步提高湘財股份財富管理板塊的競爭力。看好公司在收購大智慧背景下財富管理、金融科技方向的展業潛力,維持“增持”評級。
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