In the past year, what new progress has securities companies made in differentiated competition?
According to the data, as of March 25, there were Sealand Securities Co.Ltd(000750) , Everbright Securities Company Limited(601788) , Guolian Securities Co.Ltd(601456) , Zheshang Securities Co.Ltd(601878) , Zheshang Securities Co.Ltd(601878) .
For the future competition pattern and direction of the industry, the above-mentioned small and medium-sized securities companies mentioned many clear judgments in the annual report, including that the securities industry is in a period of historical opportunity for rapid development, and the comprehensive registration system is expected to bring more business opportunities to regional securities companies. Combined with their own reality and positioning, the above securities companies have also formulated a differentiated layout for the future development directionP align = “center” segment business revenue differentiation is obvious
From the overall operation of the above four securities companies, their revenue and net profit increased year-on-year in 2021, but the overall revenue growth and segment business performance are differentP align = “center” revenue and net profit of 4 securities companies in 2021
Data source: annual report of listed securities companies
In terms of revenue and growth rate, the operating revenue of Everbright Securities Company Limited(601788) , Zheshang Securities Co.Ltd(601878) in 2021 both exceeded 16 billion yuan, and the operating revenue of Sealand Securities Co.Ltd(000750) , Guolian Securities Co.Ltd(601456) and Guolian Securities Co.Ltd(601456) in the same period was 5.170 billion yuan and 2.967 billion yuan respectively The operating revenue of Zheshang Securities Co.Ltd(601878) , Guolian Securities Co.Ltd(601456) and 2021 increased by more than 50% compared with the same period of last year, compared with 5.30% in Everbright Securities Company Limited(601788) and Everbright Securities Company Limited(601788) .
In terms of net profit indicators, the net profit attributable to the parent company in Everbright Securities Company Limited(601788) , Zheshang Securities Co.Ltd(601878) 2021 was 3.484 billion yuan and 2.196 billion yuan respectively, with a year-on-year increase of more than 30% In Guolian Securities Co.Ltd(601456) 2021, the net profit attributable to the parent company totaled 889 million yuan, with a year-on-year increase of 51.16%. Compared with Sealand Securities Co.Ltd(000750) 2021, the net profit attributable to the parent company totaled 765 million yuan, with a year-on-year increase of 5.41%.
For the income situation in 2021, Everbright Securities Company Limited(601788) means that the annual net interest income, net fee and commission income and other business income of the company increased, while the investment income, other income and income from changes in fair value decreased. In terms of change range, the company’s net interest income, handling fee and commission income increased by 19% and 2% year-on-year respectively, while the income from investment income and changes in fair value decreased by 36%, the net income from investment bank handling fee decreased by 11% year-on-year, and the net income from asset management and fund management business handling fee decreased by 19% year-on-year.
Guolian Securities Co.Ltd(601456) 2021 revenue and net profit attributable to parent company increased by more than 50%. From the perspective of segment business income, its investment income increased by 105.37% year-on-year, and the income from changes in fair value increased by 105.70% year-on-year, mainly due to the income from holding and disposal of financial instruments; The net income from handling fees and commissions increased by 53.69% year-on-year, mainly due to the increase in the underwriting scale of bond financing businessP align = “center” create professional and high-quality
From the perspective of overall income scale, the above four securities companies are non head securities companies in the securities industry. They predict the competition pattern and future development of the industry in their annual report. At the same time, they also spend a lot of space on the transformation direction of small and medium-sized securities companies.
Sealand Securities Co.Ltd(000750) believes that the securities industry is in a period of historical opportunity for rapid development. Under the background of the continuous deepening of capital market reform, equity and institutionalization will be the two major trends of industry development. The continuous expansion of supply side and demand side will bring changes and opportunities to the institutional business of securities companies. Head securities companies have more advantages in capital strength, scientific and technological level, business strategy and risk management. For medium-sized securities companies, the way to break the situation is to create professional and high-quality products and form differentiated competitive advantages.
Zheshang Securities Co.Ltd(601878) pointed out that the profit concentration of the top 10 securities companies has increased by 15% in the past five years, and the head securities companies have outstanding advantages in all aspects, so it is difficult to shake their position. At the same time, the speed of industry reform and differentiation is accelerated, the possibility of subversive impact by enterprise groups and financial technology is increased, and the living space of small and medium-sized securities companies will be further compressed. The gradual weakening of license dividend and the continuous promotion of industry innovation require securities companies to polish their professional business ability. Professional operation and management ability has also become the key to determine whether securities companies can continue to consolidate their competitive position.
Although the whole business format has shown the oligarchy trend that the stronger the head company is, and the competitive pressure of small and medium-sized securities companies may further increase, Guolian Securities Co.Ltd(601456) believes that as a regional securities company, the reform of the registration system is expected to bring more business opportunities: since the pilot of the registration system, a large proportion of the increase projects come from small and medium-sized science and technology enterprises, and such projects are usually undertaken by small and medium-sized securities companies with regional characteristics. At the same time, It is expected that more securities companies will participate in the construction of national integration and top services in the Yangtze River DeltaP align = “center” serving the real economy and other directions reached a consensus
As small and medium-sized securities companies, how to find their own differentiated development path in the increasingly fierce competition? The reporter found that the development of wealth management transformation business and serving the real economy has become the consensus of the above securities companies.
Everbright Securities Company Limited(601788) said that in 2022, the company will further deepen reform and improve management. Among them, the wealth management business cluster will fully tap the basic value, make good use of the “three board axe” of customer capital increase, product consignment and credit business, realize “one breakthrough” in collaboration and create an integrated wealth business integration platform. The equity investment business cluster will continue to promote intensive management, focus on the main business, invest in strategic emerging industries and serve the real economy.
Zheshang Securities Co.Ltd(601878) 2022 will focus on the main line of serving the real economy and managing residents’ wealth. The company’s industrial finance sector should fully enter listed companies, deeply link industrial development, fully connect all walks of life, and continuously improve the ability of asset acquisition, pricing, sales and comprehensive services; The retail finance sector should be customer-oriented, further strengthen products, improve channels and services, and build Zhejiang Merchants’ brand reputation.
Both Guolian Securities Co.Ltd(601456) and Sealand Securities Co.Ltd(000750) mentioned the development of deep ploughing areas in the new year’s strategy Guolian Securities Co.Ltd(601456) said that in 2022, the company will further integrate into Wuxi’s innovation driven core strategy and industry leading strategy, integrate into the national strategy of “regional integration in the Yangtze River Delta“, and grasp the opportunities of industrial reform and industrial transformation. The company will speed up making up for business shortcomings, improve professional ability and create its own characteristics in some subdivided fields.
Sealand Securities Co.Ltd(000750) in its 2022 business plan, the company said that it would do a better job in serving Guangxi, serving the pilot of direct financing reform and innovation in Guangxi, exploring comprehensive financial service opportunities for characteristic project industries, strengthening regional deep cultivation, formulating localized comprehensive service strategy, and cooperating with customers in systematic development and in-depth service.
