In 2018，the A-share market showed significant fluctuations，and the index showed a downward trend throughout the year. The regulatory authorities deepened the market-oriented reform of mergers and acquisitions，raised the requirements for financing supervision，and the IPO and refinancing issuance slowed down，and the scale of issuance declined significantly. As a major part of the securities company’s operating income，brokerage business income is closely related to the trading volume of the Shanghai and Shenzhen markets and industry commissions. Due to the decrease in trading volume and commission of the two cities，the brokerage business income decreased significantly；as a fund-driven self-operated business income The proportion of the asset management business of the securities companies was reduced，and the net income of the asset management business of all securities companies decreased by nearly half. As of the end of 2018，there were 41 listed securities companies，of which 35 were listed on the Shanghai and Shenzhen Stock Exchanges. The listed securities companies of the Shanghai and Shenzhen Stock Exchanges achieved a total operating income of 269.916 billion yuan，a year-on-year decrease of 12.18%；net profit totaled 62.829 billion yuan，a year-on-year decrease of 39.69%；total assets totaled 5.61 trillion yuan，a year-on-year increase of 2.76%. Under the influence of the internal and external environment in the securities industry in 2018，the decline in income made the development of the securities industry encounter short-term bottlenecks，but listed brokers performed better than the entire industry.