More than 60% of listed securities companies handed in their papers, and the first peak disclosed in the 2021 annual report of the securities industry ended. According to China stock market news choice, as of March 31, the annual reports of 26 A-share securities companies were released.
Overall, in 2021, the securities industry continued to maintain high performance growth, and the revenue of 15 securities companies exceeded 10 billion; The net profit of 9 securities companies exceeded 10 billion, compared with only 5 in the same period.
The performance of big bond business rose again Citic Securities Company Limited(600030) , Haitong Securities Company Limited(600837) , Guotai Junan Securities Co.Ltd(601211) won the top three in revenue, with revenue of 76.524 billion, 43.205 billion and 42.817 billion respectively last year; In terms of net profit attributable to the parent company, Citic Securities Company Limited(600030) , Guotai Junan Securities Co.Ltd(601211) , Huatai Securities Co.Ltd(601688) ranked among the top three, with specific indicators of 23.1 billion, 15.013 billion and 13.346 billion.
The team of 10 billion net profit securities companies expanded. At present, there are only 500 million securities companies with net profits in 2020. In addition to the top three, Haitong and GF, China Merchants Securities Co.Ltd(600999) , China International Capital Corporation Limited(601995) , China Galaxy Securities Co.Ltd(601881) , China Securities Co.Ltd(601066) are “new faces”.
In 2021, the performance of some securities companies declined, and the growth of China Securities Co.Ltd(601066) net profit slowed down. In the previous two years, the annual net profit growth of the company was more than 70%, only 7.67% last year Chinalin Securities Co.Ltd(002945) revenue and net profit decreased, and net profit attributable to the parent decreased by more than 40%. Some medium-sized securities companies have sprung up, showing strong growth momentum.
net profit of 10 billion securities companies increased to 9
Overall, the performance of leading securities companies maintained a good rise. “First brother” Citic Securities Company Limited(600030) continued to dominate the list, ranking first in both revenue and net profit. Last year, it achieved revenue of 76.524 billion (+ 40.71%) and net profit attributable to its parent company of 23.1 billion (+ 55.01%).
Among the top ten among the top ten among the top ten among the top ten in revenue revenue are: Haitong Securities Company Limited(600837) \ , the revenue of the above-mentioned securities companies is more than 30 billion yuan.
In terms of net profit attributable to the parent company, up to now, the net profit of nine securities companies has exceeded 10 billion, and China Merchants Securities Co.Ltd(600999) , China International Capital Corporation Limited(601995) , China Galaxy Securities Co.Ltd(601881) , China Securities Co.Ltd(601066) are new 10 billion net profit securities companies. In 2020, only CITIC, Guotai Junan Securities Co.Ltd(601211) , Haitong, Huatai and GF had a net profit of more than 10 billion.
Some medium-sized securities companies show strong performance growth potential.
In terms of year-on-year growth of revenue, Guolian Securities Co.Ltd(601456) , Zheshang Securities Co.Ltd(601878) revenue increased by more than 50% year-on-year Central China Securities Co.Ltd(601375) revenue increased by more than 40% year-on-year.
In terms of the increase of net profit attributable to the parent company, Central China Securities Co.Ltd(601375) ranked first with + 392.04%, and realized a net profit attributable to the parent company of 513 million yuan last year Guolian Securities Co.Ltd(601456) 899 million (52.36 +%) showed eye-catching performance.
However, there are also some securities companies with poor performance, Chinalin Securities Co.Ltd(002945) revenue and net profit both decreased. Last year, they achieved revenue of 1.395 billion (- 6.34%) and net profit attributable to parent company of 484 million (- 40.46%), which is the only listed securities company with year-on-year revenue decline First Capital Securities Co.Ltd(002797) securities achieved a revenue of 3.255 billion yuan last year, a year-on-year increase of 4.32%, and the net profit attributable to the parent company was 745 million yuan, a year-on-year decrease of 8.29%.
wealth management dividend gradually highlights
The homogenization competition of traditional brokerage business in the securities market is becoming more and more intense. In recent years, with the transformation of brokerage business, wealth management business has become a new track in the securities industry.
Leading securities companies focus on making efforts. In 2021, Huatai Securities Co.Ltd(601688) , Citic Securities Company Limited(600030) , China International Capital Corporation Limited(601995) and other wealth management businesses made progress, and the contribution of this business to the total revenue of some securities companies continued to increase.
Last year, the revenue of Huatai Securities Co.Ltd(601688) wealth management business was 16.287 billion yuan, a year-on-year increase of 30.52%, accounting for more than 40% of the revenue, and the gross profit margin increased by 4.66 percentage points; The revenue of CICC wealth management business was 7.538 billion yuan, a year-on-year increase of 34.17%, and the operating profit margin increased by 4.18 percentage points.
The number of wealth management clients of Citic Securities Company Limited(600030) , China International Capital Corporation Limited(601995) has expanded. According to the annual report, by the end of last year, China International Capital Corporation Limited(601995) wealth management clients had reached 4.5351 million, an increase of 22.9% over the previous year, including 34900 high net worth individual clients, an increase of 36.2% over the previous year The number of Citic Securities Company Limited(600030) customers has exceeded 12 million, and the asset scale of custody customers is RMB 11 trillion, an increase of 29% over the end of 2020.
From the overall situation of the securities industry, the main line of big wealth management has become the main handle, and the early transformation of many securities companies has begun to take effect, bringing incremental dividend performance.
China Industrial Securities Co.Ltd(601377) in the annual report, it was mentioned that the company’s “two wheel drive” business system continued to deepen, the ecosystem of institutional customers was further expanded and improved, and the number of wealth management customers reached a record high.
In terms of wealth management business, in 2021, the parent company achieved a net income of 1.518 billion yuan (excluding seats) from the agency trading of securities, a year-on-year increase of 17%; The net sales revenue of agency financial products was 769 million yuan, a year-on-year increase of 43%.
The transformation of wealth management of some old securities companies has achieved results. Galaxy Securities achieved a brokerage business of 12.509 billion yuan last year, a year-on-year increase of 16.40%. Promoting the transformation of wealth management and the year-on-year growth of securities trading commission income is one of the reasons mentioned by the company.
Some small and medium-sized securities companies have also increased investment in wealth management business.
Huaan Securities Co.Ltd(600909) 2021: the net income of handling fees and commissions from securities brokerage business reached 980 million yuan, an increase of 11.8% year-on-year. Among them, last year, the total sales scale of Huaan Securities Co.Ltd(600909) financial products on a commission basis exceeded 5.6 billion yuan, with a year-on-year increase of more than 170%, and the total revenue of financial products on a commission basis was 350223 million yuan, with a year-on-year increase of 77.71%. The company said that the customer coverage and the proportion of revenue in the brokerage business have increased significantly, and the transformation of wealth management has achieved results.
Beijing stock exchange opens, securities companies welcome business increment
In 2021, the reform of the registration system was steadily promoted, the Beijing stock exchange was officially opened, the main board of Shenzhen Stock Exchange and the small and medium-sized board were merged, and the securities companies ushered in the investment banking opportunity period.
Overall, the situation of “the strong is always strong” in the investment banking business continues, and the leading institutions such as CITIC and CICC still take charge of the large IPO orders.
According to the listing date, the top three in the total amount of A-share IPO last year were China Telecom Corporation Limited(601728) , China Three Gorges Renewables (Group) Co.Ltd(600905) , and Baiji Shenzhou. Of which, China Telecom Corporation Limited(601728) raised 47.904 billion yuan, which was jointly sponsored by China International Capital Corporation Limited(601995) , China Securities Co.Ltd(601066) China Three Gorges Renewables (Group) Co.Ltd(600905) sponsored by Citic Securities Company Limited(600030) and; Baiji Shenzhou is jointly sponsored by China International Capital Corporation Limited(601995) , Goldman Sachs and Gaohua.
In terms of investment banking business revenue, in 2021, the net income of investment banking service fees was Citic Securities Company Limited(600030) 8156 billion yuan, a year-on-year increase of 18.52% Nanjing Securities Co.Ltd(601990) 57036 billion yuan, an increase of 18.14% year on year China Securities Co.Ltd(601066) 5631 billion yuan, a year-on-year decrease of 3.85%, ranking among the top three in this revenue.
Followed by Haitong Securities Company Limited(600837) , Huatai Securities Co.Ltd(601688) , Guotai Junan Securities Co.Ltd(601211) , China Merchants Securities Co.Ltd(600999) , Shenwan Hongyuan Group Co.Ltd(000166) , etc.
In terms of year-on-year growth, Central China Securities Co.Ltd(601375) last year’s net income from investment banking fees was 636 million yuan, a year-on-year increase of 207.56% Guolian Securities Co.Ltd(601456) 509 million yuan, an increase of 85.22% year-on-year.
It is worth mentioning that, with the establishment and opening of the Beijing stock exchange, the performance of many securities companies with the advantage of first Publishing Bureau has been cashed in.
China Securities Co.Ltd(601066) , Shenwan Hongyuan Group Co.Ltd(000166) and other business performance of Beijing stock exchange is outstanding. Among the first 81 enterprises listed on the Beijing stock exchange, China Securities Co.Ltd(601066) sponsored 12, ranking first in the market.
Last year, Shenwan Hongyuan Group Co.Ltd(000166) new third board listed enterprises ranked second in the continuous supervision market, among which the innovation layer ranked first in the continuous market.
