What is the profit model of securities companies?

The most basic business income of securities companies is trading commission, which is still the main source of income for Chinese mainland securities companies, generally accounting for more than 90% of each company's income. \ x0d \ x0d \ Secondly, qualified securities companies can carry out asset management business. Asset management is somewhat similar to the meaning of fund, that is, customers buy asset management products of securities companies, and securities companies operate their money. Securities companies can collect basic subscription fees and redemption fees from them, and if the performance reaches the level stipulated in the contract, they can draw performance rewards accordingly. \ x0d \ x0d \ and IB business, that is, the securities company introduces the customer's business to the futures company, and the futures company will give the securities company a rebate accordingly. \ x0d \ x0d \ and investment banks, that is, underwriting and sponsorship, such as guiding a company to complete an IPO, or issuing additional shares, listing on the backdoor, and so on. Listed companies engaged in these businesses should pay corresponding remuneration to brokers. \ x0d \ x0d \ and self-operated business, that is, securities companies use their own legitimate funds to speculate in stocks, buy bonds, etc., and the profits generated are also the income of securities companies. \ x0d \ x0d \ and margin trading. Simply put, a securities company lends money or stocks to customers, and then the customers pay a certain interest to return them. These interests are also the income of securities companies. \ x0d \ x0d \ and then there is the financial consulting business, mainly for companies. \ x0d \ x0d \ That's about all the main things. But the brokerage business, which is what you said, is the most important source of income.