In the afternoon of April 8, there was a change in securities companies’ shares. As of press time, Guosheng Financial Holding Inc(002670) rose by the limit, Chinalin Securities Co.Ltd(002945) rose by 4%, Polaris Bay Group Co.Ltd(600155) rose by 3%, Gf Securities Co.Ltd(000776) , China stock market news, China Galaxy Securities Co.Ltd(601881) and others rose by more than 2%.
According to today’s news on the website of Shenzhen Municipal People’s government, Shenzhen recently issued the implementation opinions on accelerating the cultivation and growth of market subjects, which proposed to continue to promote the “excellent listing”. Enterprises listed on the “new third board” for the first time will be rewarded with a maximum of 500000 yuan, and those entering the innovation layer will be rewarded with a maximum of 300000 yuan. Enterprises that intend to be listed in China and complete listing guidance will be rewarded with a maximum of 1 million yuan, enterprises that directly list abroad will be rewarded with a maximum of 800000 yuan, enterprises that restructure foreign listed enterprises and move their registered place into the city and foreign high-quality listed enterprises that move into the city will be rewarded with a maximum of 5 million yuan. Encourage IPO professional institutions to improve their service level, and all districts can give financial support according to their contributions.
Previously, the CSRC, together with the Ministry of finance, the state security administration and the state archives administration, revised the provisions on strengthening the confidentiality and archives management related to overseas securities issuance and listing (i.e. “Document No. 29”), formed the provisions on strengthening the confidentiality and archives management related to overseas securities issuance and listing of domestic enterprises (Draft for comments), and publicly solicited opinions. The deadline for comments is April 17. The new regulations clarify the responsibility of enterprise information security and provide clearer guidance for domestic enterprises, relevant securities companies and securities service institutions in terms of confidentiality and file management in the overseas issuance of securities and listing activities of domestic enterprises.
Haitong international pointed out that the reform of the capital market is advancing rapidly, the businesses of securities companies are expected to speed up, and the head securities companies have significant advantages. The revision of the provisions is conducive to improving the compliance level of overseas listed enterprises and promoting the orderly development of overseas securities issuance and listing activities of Chinese domestic enterprises. It is suggested to pay attention to the undervalued high-quality leaders and the leading targets of wealth management transformation.
Everbright Securities Company Limited(601788) pointed out that the current valuation of the securities sector deviates from the fundamentals, the valuation is at a historical low, and the repair of the undervalued financial sector under the main line of “steady growth” is still worth looking forward to. It is suggested to focus on two main lines:
(1) leading securities companies with outstanding comprehensive strength and gradually increasing market share in the securities industry;
(2) in the era of wealth management, it is recommended to have differentiated competitiveness in the field of Internet wealth management and benefit from the development of fund subsidiaries.
