Last week's market review of the securities sector: last week (2022.2.212022.2.27), the securities index continued to be weak, fell significantly again and hit a new low in this round of adjustment. CITIC's secondary industry index securities II fell 3.63% throughout the week, losing 1.96 percentage points to the Shanghai and Shenzhen 300 index; Compared with 30 CITIC primary industry indexes, it ranked 23rd, up 7 places month on month. Last week, the performance of securities companies was still relatively weak, and half of the stocks had broken through the low before the Spring Festival and reached a new low; The decline of head securities companies was in the forefront of the sector for two consecutive weeks, and some stocks with small decline were also short-term correction after significant decline. Last week, the average p / b of the securities sector was 1.490 times the highest and 1.431 times the lowest. The lowest and highest were lower month on month. As of the closing on February 25, 2022, the average p / b of securities companies is 1.431 times.
Industry highlights: 1. On February 24, 2022, the CSRC held the 2022 institutional supervision meeting and the 2022 investor protection meeting.
Key announcements of listed securities companies: 1 Chinalin Securities Co.Ltd(002945) issued the relevant announcement on the proposed transfer of 100% equity of Beijing Wenxing Online Technology Co., Ltd. and its application for filing as an information technology professional subsidiary.
\u3000\u30002. Guolian Securities Co.Ltd(601456) issue a suggestive announcement on the planning of H-share ESOP.
\u3000\u30003. Founder Securities Co.Ltd(601901) released the performance express of 2021.
\u3000\u30004. Orient Securities Company Limited(600958) issue an announcement on the approval of the application for H-share allotment by the CSRC.
\u3000\u30005. Guosen Securities Co.Ltd(002736) , Huaan Securities Co.Ltd(600909) issue the announcement on the progress of shareholders' share reduction Hongta Securities Co.Ltd(601236) issue the announcement of shareholders' reduction plan Tianfeng Securities Co.Ltd(601162) publish the results of shareholder reduction and the announcement of the plan.
\u3000\u30006. Shenwan Hongyuan Group Co.Ltd(000166) , Guosen Securities Co.Ltd(002736) , China Greatwall Securities Co.Ltd(002939) issued the announcement of completing the issuance of corporate bonds to professional investors.
\u3000\u30007. China Galaxy Securities Co.Ltd(601881) , Zhongtai Securities Co.Ltd(600918) , Soochow Securities Co.Ltd(601555) issue the announcement of completing the issuance of short-term financing bonds.
\u3000\u30008. Northeast Securities Co.Ltd(000686) release the record form of investor relations activities.
Investment suggestion: in a short period of time, the brokerage sector is expected to have a repair market, but the overall trend of weak shock consolidation will still be maintained. It is expected that the brokerage sector will still focus on the structural market, and the scope and strength depend on the overall performance of the sector.
Risk tips: 1 The short-term growth rate is too fast and the growth rate is too large, resulting in the rapid adjustment of securities companies; 2. The weakening of the secondary market of equity and fixed income leads to the failure of continuous improvement of various businesses in the securities industry; 3. The progress and strength of comprehensively deepening the reform of the capital market are less than expected.
