In January, the underwriting scale of stock bonds of securities companies exceeded 700 billion, and the issuance of convertible bonds increased five times

category:Finance
 In January, the underwriting scale of stock bonds of securities companies exceeded 700 billion, and the issuance of convertible bonds increased five times


Underwriting of securities companies increased by 530% year on year

In the first month of 2020, the equity underwriting business of 37 securities companies has been implemented, including initial issuance, additional issuance, share allotment and convertible bonds, with an accumulated equity underwriting scale of 135.527 billion yuan, up 11.75% year-on-year from 121.277 billion yuan in January 2019.

In January, the underwriting scale of initial issuance of securities companies and convertible bonds accounted for the highest proportion. Among them, in January, the initial underwriting scale of securities companies reached 41.662 billion yuan, accounting for 30.74%, and the total underwriting scale of convertible bonds reached 37.75 billion yuan, accounting for 27.85%.

Initial underwriting has always been the focus of equity underwriting business of securities companies, with the proportion of performance ranking first for a long time. It is worth noting that the underwriting scale of convertible bonds in January this year increased by 530.39% compared with the same period last year, which shows the hot issue of convertible bonds this year.

According to the ranking of equity underwriting business of securities companies in January, Huatai United Securities is far ahead in the underwriting scale with 25.9 billion yuan of equity, ranking first, and the underwriting performance is all from the issuance of additional shares. Guangfa Securities ranked second with an underwriting scale of 17.002 billion yuan, including 394 million yuan for initial issuance, 15.733 billion yuan for additional issuance and 875 million yuan for convertible bonds.

The top ten securities companies are CSC securities, CITIC Securities, Guotai Junan, CICC, Minsheng securities, BOC International Securities, UBS Securities and Zhongyuan securities. Among the top ten securities companies mentioned above, 84% of the securities companies are underwritten, and the Matthew effect of the strong is very significant.

12 securities companies enter

Bond underwriting ten billion yuan club

According to wind information data, 87 securities companies participated in the bond underwriting business in the first month of the year, with a total underwriting amount of 572.11 billion yuan, up 13.45% year-on-year compared with 504.272 billion yuan in the same period last year. The reporter of securities daily observed that 12 securities companies took the lead in entering the 10 billion yuan club in bond underwriting scale.

CSC securities ranked first in the first month of the year with a bond underwriting scale of 87.425 billion yuan, underwriting 359 bonds in total, with a market share of 15%. CITIC Securities followed closely, with a total underwriting scale of 66.289 billion yuan and a total of 312 bonds, with a market share of 12%. Guotai Junan ranked among the top three, underwriting 238 bonds with a total underwriting scale of 30.658 billion yuan.

China Merchants Securities, Orient Securities, Haitong Securities, CICC, Ping An Securities, Huatai Securities and Everbright Securities ranked fourth to tenth in bond underwriting scale. In addition, the bond underwriting scale of Industrial Securities and Shenwan Hongyuan securities also exceeded 10 billion yuan.

Different types of bonds have different underwriting scales. Securities companies underwrite the local government bonds, corporate bonds and ABS (asset securitization) bonds the most, which are respectively 1995.9 billion yuan, 186.137 billion yuan and 98.883 billion yuan, accounting for 34.89%, 32.54% and 17.28% of the total bond underwriting scale.

In the field of local government bonds, the top three underwriters are CITIC Securities, Orient Securities and CSC securities. In the field of corporate bonds, the top three are CSC securities, CITIC Securities and Haitong Securities. In the field of ABS, the top three companies are China Merchants Securities, CITIC Securities and CICC. With the intensification of Matthew effect in investment banking business, all securities companies are secretly working on their own advantages in the field of sub underwriting to improve operating income, an investment banker told Securities Daily Compared with banks and trusts, the performance of securities companies in bond underwriting business in the first month of the year is remarkable, which is conducive to improving the overall performance income of this year, especially the top listed securities companies in bond underwriting scale. However, some securities companies are cautious. Hong Jinping team of Huachuang securities, a non banking industry, recently said that due to the impact of pneumonia caused by the new coronavirus infection, the pressure of economic downturn has increased, and there are many negative emotions in the market at present. It is expected to have a great impact on the short-term valuation of securities companies, so it is necessary to pay attention to the callback pressure. Source: responsible editor of Securities Daily: Yang qian_nf4425

In the field of local government bonds, the top three underwriters are CITIC Securities, Orient Securities and CSC securities. In the field of corporate bonds, the top three are CSC securities, CITIC Securities and Haitong Securities. In the field of ABS, the top three companies are China Merchants Securities, CITIC Securities and CICC. With the intensification of Matthew effect in investment banking business, all securities companies are secretly working on their own advantages in the field of sub underwriting to improve operating income, an investment banker told Securities Daily

Compared with banks and trusts, the performance of securities companies in bond underwriting business in the first month of the year is remarkable, which is conducive to improving the overall performance income of this year, especially the top listed securities companies in bond underwriting scale.

However, some securities companies are cautious. Hong Jinping team of Huachuang securities, a non banking industry, recently said that due to the impact of pneumonia caused by the new coronavirus infection, the pressure of economic downturn has increased, and there are many negative emotions in the market at present. It is expected to have a great impact on the short-term valuation of securities companies, so it is necessary to pay attention to the callback pressure.