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《企业会计准则第22号——金融工具确认和计量》下的金融资产三分类
《企业会计准则第22号——金融工具确认和计量》下的金融资产三分类
行业数据
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图片大小:101KB
图片尺寸:1736*977
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所属报告:
银行行业深度报告:如何估测债券收益率波动对银行业绩的影响-250309(17页).pdf
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图32、宽松政策下股市繁荣带动金融资产扩张
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图39、金融资产仍是规模扩张的核心增量来源
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图10、期间内金融资产规模增速较快
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图11、金融资产规模扩张主要得益于居民增配
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图31、截至2015年末金融资产规模占比近七成
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图25、2001-2004年金融资产CAGR达7.1%
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图4、非金融资产规模收缩主要源于土地价格下跌
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图2、非金融资产收缩导致日本居民总资产规模长
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2025年资产管理规模(AuM)及2028年目标:数字资产在现有金融工具中的渗透率
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图13、2025年头部券商衍生金融工具名义本金规模回升
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2008年来欧洲居民金融资产配置结构
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2026-04-13
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上市券商增配交易性金融资产(单位:亿元,%)
<table>
    <thead>
        <tr>
            <th rowspan="2">公司</th>
            <th colspan="3">交易性金融资产</th>
            <th colspan="3">债权投资</th>
            <th colspan="3">其他债权投资</th>
            <th colspan="3">其他权益工具投资</th>
        </tr>
        <tr>
            <th>2024A</th>
            <th>2025A</th>
            <th>变动</th>
            <th>2024A</th>
            <th>2025A</th>
            <th>变动</th>
            <th>2024A</th>
            <th>2025A</th>
            <th>变动</th>
            <th>2024A</th>
            <th>2025A</th>
            <th>变动</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>中信证券</td>
            <td>6,909</td>
            <td>7,773</td>
            <td>12.5%</td>
            <td>0</td>
            <td>0</td>
            <td>0.0%</td>
            <td>802</td>
            <td>573</td>
            <td>-28.6%</td>
            <td>907</td>
            <td>1,237</td>
            <td>36.5%</td>
        </tr>
        <tr>
            <td>国泰海通</td>
            <td>4,085</td>
            <td>6,886</td>
            <td>68.6%</td>
            <td>40</td>
            <td>91</td>
            <td>127.3%</td>
            <td>860</td>
            <td>1,457</td>
            <td>69.3%</td>
            <td>220</td>
            <td>655</td>
            <td>197.7%</td>
        </tr>
        <tr>
            <td>广发证券</td>
            <td>2,428</td>
            <td>3,624</td>
            <td>49.2%</td>
            <td>0</td>
            <td>0</td>
            <td>-96.0%</td>
            <td>1,043</td>
            <td>904</td>
            <td>-13.3%</td>
            <td>223</td>
            <td>305</td>
            <td>36.7%</td>
        </tr>
        <tr>
            <td>华泰证券</td>
            <td>3,017</td>
            <td>3,792</td>
            <td>25.7%</td>
            <td>478</td>
            <td>445</td>
            <td>-6.9%</td>
            <td>101</td>
            <td>448</td>
            <td>342.2%</td>
            <td>1</td>
            <td>146</td>
            <td>11510.9%</td>
        </tr>
        <tr>
            <td>中金公司</td>
            <td>2,790</td>
            <td>2,954</td>
            <td>5.9%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>849</td>
            <td>1,193</td>
            <td>40.6%</td>
            <td>79</td>
            <td>120</td>
            <td>52.8%</td>
        </tr>
        <tr>
            <td>申万宏源</td>
            <td>2,695</td>
            <td>2,676</td>
            <td>-0.7%</td>
            <td>25</td>
            <td>35</td>
            <td>40.5%</td>
            <td>655</td>
            <td>399</td>
            <td>-39.1%</td>
            <td>695</td>
            <td>880</td>
            <td>26.6%</td>
        </tr>
        <tr>
            <td>中国银河</td>
            <td>2,208</td>
            <td>2,297</td>
            <td>4.0%</td>
            <td>9</td>
            <td>6</td>
            <td>-33.3%</td>
            <td>1,051</td>
            <td>990</td>
            <td>-5.8%</td>
            <td>557</td>
            <td>615</td>
            <td>10.5%</td>
        </tr>
        <tr>
            <td>招商证券</td>
            <td>2,655</td>
            <td>2,707</td>
            <td>2.0%</td>
            <td>14</td>
            <td>2</td>
            <td>-86.9%</td>
            <td>684</td>
            <td>699</td>
            <td>2.3%</td>
            <td>390</td>
            <td>354</td>
            <td>-9.1%</td>
        </tr>
        <tr>
            <td>中信建投</td>
            <td>2,020</td>
            <td>1,867</td>
            <td>-7.6%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>776</td>
            <td>933</td>
            <td>20.4%</td>
            <td>148</td>
            <td>522</td>
            <td>252.3%</td>
        </tr>
        <tr>
            <td>东方证券</td>
            <td>902</td>
            <td>1,102</td>
            <td>22.1%</td>
            <td>16</td>
            <td>16</td>
            <td>-0.2%</td>
            <td>1,105</td>
            <td>960</td>
            <td>-13.2%</td>
            <td>196</td>
            <td>326</td>
            <td>65.9%</td>
        </tr>
        <tr>
            <td>兴业证券</td>
            <td>806</td>
            <td>888</td>
            <td>10.1%</td>
            <td>40</td>
            <td>78</td>
            <td>95.3%</td>
            <td>602</td>
            <td>483</td>
            <td>-19.8%</td>
            <td>67</td>
            <td>224</td>
            <td>236.2%</td>
        </tr>
        <tr>
            <td>光大证券</td>
            <td>772</td>
            <td>605</td>
            <td>-21.6%</td>
            <td>34</td>
            <td>18</td>
            <td>-46.7%</td>
            <td>576</td>
            <td>573</td>
            <td>-0.6%</td>
            <td>10</td>
            <td>46</td>
            <td>367.9%</td>
        </tr>
        <tr>
            <td>方正证券</td>
            <td>591</td>
            <td>657</td>
            <td>11.3%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>507</td>
            <td>288</td>
            <td>-43.1%</td>
            <td>36</td>
            <td>68</td>
            <td>86.8%</td>
        </tr>
        <tr>
            <td>国联民生</td>
            <td>379</td>
            <td>780</td>
            <td>105.7%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>56</td>
            <td>6</td>
            <td>-89.0%</td>
            <td>52</td>
            <td>129</td>
            <td>147.9%</td>
        </tr>
        <tr>
            <td>中泰证券</td>
            <td>359</td>
            <td>438</td>
            <td>22.2%</td>
            <td>14</td>
            <td>8</td>
            <td>-44.9%</td>
            <td>333</td>
            <td>250</td>
            <td>-24.8%</td>
            <td>29</td>
            <td>91</td>
            <td>215.4%</td>
        </tr>
        <tr>
            <td>信达证券</td>
            <td>345</td>
            <td>424</td>
            <td>22.9%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>258</td>
            <td>237</td>
            <td>-8.1%</td>
            <td>22</td>
            <td>89</td>
            <td>307.5%</td>
        </tr>
        <tr>
            <td>东兴证券</td>
            <td>361</td>
            <td>318</td>
            <td>-11.8%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>203</td>
            <td>237</td>
            <td>16.9%</td>
            <td>65</td>
            <td>103</td>
            <td>58.9%</td>
        </tr>
        <tr>
            <td>西部证券</td>
            <td>488</td>
            <td>524</td>
            <td>7.5%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>4</td>
            <td>0</td>
            <td>-98.5%</td>
            <td>0</td>
            <td>40</td>
            <td>20897.1%</td>
        </tr>
        <tr>
            <td>西南证券</td>
            <td>255</td>
            <td>372</td>
            <td>46.0%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>89</td>
            <td>83</td>
            <td>-7.3%</td>
            <td>10</td>
            <td>26</td>
            <td>164.6%</td>
        </tr>
        <tr>
            <td>华安证券</td>
            <td>367</td>
            <td>267</td>
            <td>-27.4%</td>
            <td>13</td>
            <td>5</td>
            <td>-62.0%</td>
            <td>140</td>
            <td>175</td>
            <td>24.8%</td>
            <td>27</td>
            <td>21</td>
            <td>-20.4%</td>
        </tr>
        <tr>
            <td>红塔证券</td>
            <td>160</td>
            <td>161</td>
            <td>1.1%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>206</td>
            <td>201</td>
            <td>-2.5%</td>
            <td>55</td>
            <td>79</td>
            <td>45.0%</td>
        </tr>
        <tr>
            <td>首创证券</td>
            <td>190</td>
            <td>187</td>
            <td>-2.0%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>92</td>
            <td>88</td>
            <td>-4.8%</td>
            <td>23</td>
            <td>62</td>
            <td>165.3%</td>
        </tr>
        <tr>
            <td>中原证券</td>
            <td>176</td>
            <td>171</td>
            <td>-2.9%</td>
            <td>0</td>
            <td>1</td>
            <td>47.9%</td>
            <td>1</td>
            <td>31</td>
            <td>2651.6%</td>
            <td>0</td>
            <td>0</td>
            <td>0.0%</td>
        </tr>
        <tr>
            <td>国海证券</td>
            <td>143</td>
            <td>151</td>
            <td>5.7%</td>
            <td>0</td>
            <td>0</td>
            <td>-</td>
            <td>26</td>
            <td>35</td>
            <td>34.4%</td>
            <td>1</td>
            <td>1</td>
            <td>-1.2%</td>
        </tr>
        <tr>
            <td>华林证券</td>
            <td>16</td>
            <td>16</td>
            <td>1.2%</td>
            <td>2</td>
            <td>0</td>
            <td>-</td>
            <td>20</td>
            <td>32</td>
            <td>58.5%</td>
            <td>4</td>
            <td>0</td>
            <td>-100.0%</td>
        </tr>
        <tr>
            <td>合计</td>
            <td>35,115</td>
            <td>41,636</td>
            <td>18.6%</td>
            <td>686</td>
            <td>704</td>
            <td>2.7%</td>
            <td>11,041</td>
            <td>11,276</td>
            <td>2.1%</td>
            <td>3,816</td>
            <td>6,140</td>
            <td>60.9%</td>
        </tr>
    </tbody>
</table>

资料来源：Wind，各公司财报，西部证券研发中心
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2026-04-13
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2008年来美国居民金融资产中权益配置占比提升
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银行行业深度报告:如何估测债券收益率波动对银行业绩的影响-250309(17页).pdf
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