In October, 12 listed securities companies achieved positive growth in net profit month on month. Among them, first venture, CITIC Securities and Western securities increased significantly, with 492.72%, 255.86% and 149.84% respectively. It is worth noting that the first venture with the largest increase in net profit has its subsidiaries with outstanding performance. The first venture achieved a net profit of 67.2 million yuan in October, of which 49 million yuan was contributed by the first venture investment bank.
This is not an example. In October, the increase of investment banking business volume of securities companies directly promoted the performance growth of investment banking subsidiaries of securities companies. The performance of investment banking businesses or subsidiaries of several securities companies achieved significant growth month on month or year-on-year.
In October, the scale of equity financing totaled 119.784 billion yuan, down 11.11% month on month. Among them, the newly issued raised capital was 22.372 billion yuan, down 75.31% on a month on month basis; there were 16 initial enterprises, and the IPO raised capital was 22.367 billion yuan, up 126.59% on a year-on-year basis, up 125.57% on a month on month basis.
Its not hard to see that IPO fundraising in October increased substantially. Analysts of Great Wall Securities said: the IPO of science and technology innovation board was less concentrated in September, with a low base. Driven by the policies of science and technology innovation board and registration system, the IPO business of securities companies is expected to have a substantial positive this year, and the concentration of IPO business will be further improved.
Among the investment banking subsidiaries of listed securities companies with statistical data, the net profit of Sino German securities was the first, reaching 56.338 million yuan, with a growth of 132% on a month on month basis; the second was underwriting and recommendation of first venture securities, with a net profit of 49 million yuan, turning from loss to profit compared with September. If compared with the same period of last year, the performance growth of investment banking subsidiaries is more obvious, many of them have doubled year-on-year, with Sino German securities increasing by 1174.45%, Yangtze River underwriting and recommendation increasing by 440.56% year-on-year, and Shenwan Hongyuan underwriting and recommendation increasing by 121.34% year-on-year.
According to Haitong Securities Research estimates, this years securities industry net profit is expected to grow 80% year-on-year. Among them, brokerage business increased by 32% year-on-year, investment banking business by 56% year-on-year, capital intermediary business revenue by 30% year-on-year; self operation and capital management increased by 80% and 5% year-on-year respectively. It can be seen that, in addition to the proprietary business, the growth rate of investment banking business is also considerable.
Compared with the investment bank subsidiaries, the performance of asset management companies is relatively poor. In October, the performance of asset management business of securities companies was relatively stable, and the performance of asset management companies still showed differentiation. According to wind data, in October 2019, 364 asset management products of newly established securities companies decreased by 14.35% month on month, and the share of new product issuance was 5.517 billion yuan, up 31.36% month on month. Analysts of Great Wall Securities said: it is expected that the overall scale of asset management business will continue to be adjusted, asset management is changing from volume by volume to quality improvement , and asset management profits of leading securities companies that actively adjust their structure will maintain an upward trend.
Among the listed securities firm asset management companies, Huatai Securities Asset Management, Dongzheng asset management and China Merchants Securities Asset Management ranked in the top three net profits. Among them, Huatai Securities Asset Management Company has the highest net profit, reaching 110 million yuan, which is more than the net profit of parent companies of several listed securities companies. According to the data of Huatai Securities monthly report, the parent company realized a net profit of 460 million yuan, Huatai Securities Asset management realized a net profit of 87.953 million yuan, and Huatai joint realized a net profit of 37.632 million yuan.
Source: responsible editor of Securities Daily: Yang qian_nf4425