It is worth noting that on July 5, in response to the rumors about the merger, both CITIC Securities and China Securities Construction Investment Co., Ltd. announced the receipt of the relevant regulatory working letter and reply from the Shanghai Stock Exchange. The above rumors were clarified.
CITIC Securities and CITIC construction investment both announced
According to the regulatory working letter of the Shanghai Stock Exchange, on April 14 this year, some media reported that CITIC Securities would merge with China CITIC construction investment. On July 2, some media reported again that CITIC Group, the parent company of CITIC Securities, would purchase shares of CSCI from Central Huijin Investment Co., Ltd. (hereinafter referred to as Central Huijin), the main shareholder of CSC, so as to promote the merger of CITIC Securities and CSCI. The plan has been approved by the party committees of the two securities companies.
Photo source: CITIC Securities announcement
In response, CITIC Securities replied that the company immediately checked with the largest shareholder of China CITIC Co., Ltd. (hereinafter referred to as CITIC Limited) after taking note of the above-mentioned media reports on the relevant matters on July 2. According to the oral verification results, it is confirmed that the company has not been informed of the relevant information about the above rumors, and there is no information that should be disclosed.
Accordingly, the company issued the clarification notice on the same day of media report.
Clarification announcement issued by CITIC Securities on July 2
On July 3, CITIC Securities consulted CITIC limited, the largest shareholder, about the above-mentioned media reports, and received a written reply from CITIC on July 4
In response, CSCI said that after the media reports appeared on July 2, the company made oral inquiries with Huijin, and confirmed that it did not receive any written or oral information about the rumors from any shareholders,
After the company has no information that should be disclosed but not disclosed, the company timely disclosed the clarification notice in the evening of that day.
Clarification notice issued by CSCI on July 2
On July 3, CSCI made a written consultation with Huijin, and on July 5 received the reply of Central Huijin Investment Co., Ltd. on the inquiry letter on media reports of China Securities Co., Ltd. Huijin said that up to now, there is no material information involving CSCI that should be disclosed but not disclosed.
580 billion a week
Two more good news for securities industry
In the past week, securities companies have suddenly become stars in the market. The whole sector has increased by more than 20% in a single week, and the market value has increased by more than 580 billion yuan.
At the end of the Friday, the trading limit of more than 10 stocks including CITIC Securities, China Securities construction investment, Shanxi securities, Zhongtai securities, China Merchants Securities and Guojin securities were trading on the same day.
Image source: wind
It is worth noting that after Fridays trading, two major catalysts came from the policy level again.
First of all, in order to further improve the market service level, China Securities Finance Co., Ltd. (hereinafter referred to as the company) has implemented Article 19 of the detailed rules for the implementation of margin management of refinancing business of China Securities Finance Corporation Limited (Trial) (hereinafter referred to as the detailed rules of margin) and the refinancing business contract (hereinafter referred to as the contract) in order to further improve the market service level u300buff09Article 69 has been amended to remove the limit on the margin withdrawal ratio of refinancing business of securities companies. It is hereby promulgated and relevant matters are notified as follows:
1u3001 The content of the first paragraph of Article 19 of the detailed rules for security deposit is amended as when the margin ratio of a securities company exceeds the level of its margin ratio, it may apply to the company for drawing the excess margin. The application for withdrawal of guarantee funds shall also meet the companys regulations on the proportion of cash to the payable margin.
2u3001 The content of the first paragraph of Article 69 of the contract is correspondingly revised as when the deposit ratio of Party B exceeds the level of its deposit proportion, Party B may apply to Party A for withdrawal of the excess part of the deposit.
In addition, another good news is that the peoples Bank of China, together with the Bank of China Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of foreign exchange, issued the rules for the recognition of standardized creditors rights assets.
Photo source: Official Website of the peoples Bank of China
According to an employee of a joint-stock bank in China, a securities firm, the document is not of great significance in the short term, but it is full of imagination in the long run.
Now it is in the transition period of new asset management regulations, and the subsequent non-standard transfer will be more difficult, and the pressure of non-standard financing will also increase significantly. In the past two years, many banks have begun to transform. In the past year, banks have allocated the most interest rate bonds. This year, interest in equity assets has also increased significantly. But they are still looking for the most secure way to participate, such as the fixed increase of capital and other relatively stable routines played in 14-15 years.
Full screen bull market
Can securities companies continue to rise strongly?
This weekend, whether micro-blog tiktok or WeChat, the bull market discussion is full of social platforms. Everyone is waiting for the opening on Monday. Some people even said that the bull market is coming, and they feel that the weekend is unnecessary.
Photo source: Sina Weibo
According to the China Securities Journal, according to Guotai Junan, online account opening of Guotai Junan increased by more than 30% month on month in June, among which the post-90s account opening proportion is the highest, reaching 30%. Junhong app increased by nearly 10% month on month; according to CITIC Securities, the number of new accounts opened in June increased by about 30% month on month.
It is worth noting that the recent performance of the A-share market, including the brokerage sector, has made market participants call out smelling the feeling of early 2015. Next, how to go after the market, can securities companies continue to perform strongly?
Over the past weekend, a number of securities research institutions have made predictions and deduction on the future market trend.
Photo source: photo web
According to the research report released by CITIC Securities research today, the make-up of undervalued plates is not a style switch, but a short-term style rebalancing and a preview of future style switching.
From the late third quarter, finance and cycle will become one of the main lines of the next round of trend rise lasting for several months. Any adjustment and structural loosening in the third quarter of the market is a new opportunity to enter the market and is also the best time for allocation in the second half of the year.
After the overseas epidemic situation and liquidity expectations are broken, it is expected that at the end of the third quarter, the market will start a trend upward trend for several months, and then the cycle and financial sector will become one of the main lines of the market. In terms of allocation, in the recent up market of undervalued sectors, CITIC Securities suggested that the real estate sector in the big finance sector should be appropriately increased, as well as the optional consumer sectors with improved economic conditions, including household appliances, cosmetics, automobiles and spare parts.
According to the strategy report previously issued by CSCI, in the third quarter of 2020, financial real estate and cycle are recommended along the path of recovery. It is expected that in the fourth quarter of 2020, the consumption sector may re-exist obvious excess returns. In the second half of 2020, the science and technology sector is not dominant. According to the latest research paper released by Xu Biao, an analyst of Tianfeng strategy, the sharp style differentiation since this year has turned around this week, and the market has come to the stage of fierce debate on style switching. In terms of probability, financial, stability and some early cycle sectors performed better in the fourth quarter. The core logic lies in the expectations of these undervalued sectors for robust growth in the next years performance. (this article does not constitute investment suggestions and opinions, and the risk of entering the market should be borne by yourself) daily economic news comprehensive securities dealers China, China Fund News, Shanghai Securities News Source: Daily Economic News Editor: Chen Hequn_ NB12679
According to the strategy report previously issued by CSCI, in the third quarter of 2020, financial real estate and cycle are recommended along the path of recovery. It is expected that in the fourth quarter of 2020, the consumption sector may re-exist obvious excess returns.
In the second half of 2020, the science and technology sector is not dominant.
According to the latest research paper released by Xu Biao, an analyst of Tianfeng strategy, the sharp style differentiation since this year has turned around this week, and the market has come to the stage of fierce debate on style switching. In terms of probability, financial, stability and some early cycle sectors performed better in the fourth quarter. The core logic lies in the expectations of these undervalued sectors for robust growth in the next years performance.
(this article does not constitute investment suggestions and opinions, and the risk of entering the market shall be borne by oneself)