Here’s a deep dive into the 2024 earnings results for securities companies on the MSE, brought to you exclusively by Lemon Press!

📊 52/28: ₮370 billion

Out of 52 securities companies on the Mongolian Stock Exchange (MSE), 28 companies submit their reports. They manage assets worth ₮370 billion last year. As a result, their operating income reaches ₮40 billion, and their net profit is ₮16.8 billion. As for their trading,

• 📈 ₮719 billion Trading: Securities companies trade a total of ₮719 billion in the primary and secondary markets of stocks and bonds in 2024. Last year, the IPO flow is relatively calm, and secondary market trading accounts for 90.3% of this amount. However, 29.5% of the total secondary market trading is done by BDSec (BDS) alone.
• 😍 Bond Lover: The primary market trading of bonds and asset-backed securities reaches ₮1.6 trillion, indicating that 2024 is a bond year. $BDS also accounts for 49.2% of these trades, leading to a 5.6-fold increase in their net profit for the reporting year. In contrast, Golomt Capital Securities was the most active in the secondary market trading of bonds and asset-backed securities, with ₮451 billion in trades.

🔝 Top Tier = ₮12.8 billion

To dive deeper, Golomt Capital’s profit accounts for 76% of the total profit of securities companies. While TDB Securities, the top profit earner of 2023, sees a 31.1% decrease in profit in 2024, Goodsec experiences the largest profit increase, rising by 748%. As for Golomt Capital, the 2024 winner, it remains the most active in the secondary bond market and the OTC, underwriting 48.4% of the ₮3.1 trillion in bonds registered since 2022.

Final thought, as the market becomes more active, trading expands, and the number of public companies and small investors increases, competition in the securities sector intensifies. If securities companies flood the mining product exchange, these numbers will explode, and the competition will get ridiculously fierce. Let’s see how that plays out.