Based on the 2022 annual reports disclosed by listed securities companies, the reporter found that among the 10 asset management subsidiaries of securities companies that have disclosed performance data, 80% are facing the dilemma of shrinking scale and declining performance. From the perspective of asset management scale, the overall scale of the industry has shrunk. According to data from the Securities Association of China, by the end of 2022, the asset management business compliance entrusted funds of securities companies will be 9.76 trillion yuan, a year-on-year decrease of 9.69%.