Signal! This plate large-scale rise A-share bull market near?

category:Finance
 Signal! This plate large-scale rise A-share bull market near?


Affected by this, todays securities companies soared. By the end of the afternoon, the plate index rose by 4.11%. Everbright Securities trading limit, Shenwan Hongyuan, China Merchants Securities, China Galaxy, etc. were also trading limit. Among them, the stock prices of CSCI and Zhongtai securities reached a new high, Dongfang wealth and Huaxin shares reached a new high in five years, and Guojin securities reached a new high in more than one year.

As the most flexible plate in the market, securities stocks are often an important indicator of the market. Once the market is established, the performance and valuation of securities companies will be improved, which will form Davis double click.

Market funds are also flocking to buy securities stocks in the near future. Since June, Beishang capital has bought 1.51 billion yuan of securities companies shares, and CITIC Securities, CSCI, Tianfeng securities and Huatai Securities have bought over 100 million yuan of securities companies shares, which are 630 million yuan, 199 million yuan, 147 million yuan and 145 million yuan, respectively. In the same period, 19 securities companies, such as Soochow securities, China Galaxy, Guotai Junan, etc., were also net bought by Beishang capital for more than 10 million yuan.

Since June, Beishang capital has bought more than ten million yuan of securities stocks

Since June, financiers have also financed a net purchase of about 2.3 billion yuan in securities companies, 444 million yuan in Tianfeng securities, 201 million yuan in CAITONG securities, 193 million yuan in Huaxin securities, 170 million yuan in Huaxi Securities, and over 100 million yuan in Hongta securities, Haitong Securities, Everbright Securities, Dongwu securities, Guangfa Securities and Guojin securities. Dongfang wealth, Guosheng financial holding, Guoxin Securities, etc. were also net purchased by financing of more than 10 million yuan

Private equity institutions interviewed by e company reporters believe that investors should attach great importance to the collective launch of securities companies today. In terms of valuation, at present, the overall price earnings ratio of securities companies is about 1.67 times, which is in the lower part of the central position and has a high margin of safety. The start of gem registration system means that more and more enterprises will be listed in the future, and the investment banking business of securities companies will once again usher in spring, which will greatly stimulate the improvement of securities business performance.

Novel coronavirus pneumonia is a key factor. But in the short term, uncertainties can not be ignored. First, the 3000 point is the more sensitive point at the 3000 point of the Shanghai Composite Index. The early stage of the market has reached the unwinding area, and the profit taking has also been impulsive. Secondly, there are many variables in the Sino US trade conflict and the new crown pneumonia outbreak, which will create constraints on A shares. On the whole, the current valuation of securities companies is cheap, and the probability of rising is greater than the probability of falling.

Multi space interleaving

At present, securities companies are facing a variety of positive and negative factors. On the one hand, buybacks and employee stock ownership plans continue. On the other hand, Tianliangs refinancing and significant shareholders reduction also make investors have reservations in the face of securities companies.

Earlier, Huatai Securities also announced that it planned to repurchase 45383300-90766500 A shares at a price of no more than 28.81 yuan as the stock source of the restricted stock equity incentive plan. The buyback will be conducted with its own funds, with a total amount of no more than 2.615 billion yuan.

According to wind statistics, since this year, seven A-share listed securities companies have announced relevant matters related to shareholder reduction, involving first venture, Huaan securities, Nanjing Securities, Western securities, CAITONG securities, Founder Securities, and Huaxi Securities. The total number of shares actually reduced by shareholders is 259 million, with a reference market value of 2.374 billion yuan.

In addition, recently, the 10 billion fixed increase plan of Zhejiang securities was approved by the state owned assets supervision and Administration Commission of Zhejiang Province, and Shanxi securities officially launched subscription payment. Huaan securities disclosed 4 billion plan for share allotment, and the amount of refinancing plan of securities companies in this year has exceeded 100 billion.

Institutions: securities companies are in the golden pit

Bohai Securities said that liquidity and regulatory cycle are important factors to determine whether the securities sector can obtain excess returns. Under the protection of liquidity support and policy, it maintains a long-term optimistic outlook on the industry. Leading securities companies have stronger research pricing and direct investment capabilities, and have more advantages than small and medium-sized securities companies. They will benefit from the improvement of investment banking business concentration. The stock pool continues to be recommended Credit securities, Huatai Securities.

In the view of new era securities, in the past two years, the policy of securities industry has been gradually revived, the position of capital market has been promoted, and the importance of securities companies to more effectively play the role of capital intermediary in serving the real economy has been strengthened. In this years market volatility, the securities sector has shown a certain resilience. With the optimization of capital market, loose liquidity transmission, market activity and index repair, the relatively undervalued securities sector has investment opportunities. Maintain industry recommended rating.

According to Anxin securities, at present, the stock of securities companies is in the golden pit, the Chinese economy is in the recovery stage after the outbreak of the epidemic, and the beta attribute of securities companies is prominent under the recovery of short-term market confidence; in the medium and long term, the policy level is good for the business innovation and stock business transformation of securities companies, and the roe of securities companies is expected to continue to improve. Recommend the top securities companies with low valuation, rich investment bank resource reserve and long-term good performance under the registration system trend, the small and medium-sized investment banks with low valuation, good investment bank foundation and high-speed growth of performance in 2020, and the Internet securities companies that may benefit from the t + 0 policy and lower financing costs. Great Wall Securities proposes to select individual stocks from three main lines: 1) leading securities companies with excellent and stable performance, diversified and balanced revenue structure: Huatai Securities, Haitong Securities, Guotai Junan and Shenwan Hongyuan. 2) It is suggested to pay attention to the small and medium-sized securities companies with innovation + Transformation Development: Guojin securities and Dongfang wealth. 3) It is suggested to pay attention to the sub IPO elastic target: Nanjing Securities, China Galaxy. Source: responsible editor of Securities Times: Yang Bin_ NF4368

According to Anxin securities, at present, the stock of securities companies is in the golden pit, the Chinese economy is in the recovery stage after the outbreak of the epidemic, and the beta attribute of securities companies is prominent under the recovery of short-term market confidence; in the medium and long term, the policy level is good for the business innovation and stock business transformation of securities companies, and the roe of securities companies is expected to continue to improve. Recommend the top securities companies with low valuation, rich investment bank resource reserve and long-term good performance under the registration system trend, the small and medium-sized investment banks with low valuation, good investment bank foundation and high-speed growth of performance in 2020, and the Internet securities companies that may benefit from the t + 0 policy and lower financing costs.

Great Wall Securities proposes to select individual stocks from three main lines: 1) leading securities companies with excellent and stable performance, diversified and balanced revenue structure: Huatai Securities, Haitong Securities, Guotai Junan and Shenwan Hongyuan. 2) It is suggested to pay attention to the small and medium-sized securities companies with innovation + Transformation Development: Guojin securities and Dongfang wealth. 3) It is suggested to pay attention to the sub IPO elastic target: Nanjing Securities, China Galaxy.