“First brother” launched the first shot in the 2021 annual performance express of listed securities companies.
On the evening of January 12, Citic Securities Company Limited(600030) announced the 2021 annual performance express. In 2021, the company achieved an operating revenue of 76.57 billion yuan, a year-on-year increase of 40.8%; The net profit attributable to the shareholders of the parent company was 22.979 billion yuan, a year-on-year increase of 54.2%.
Zheshang Securities Co.Ltd(601878) , Central China Securities Co.Ltd(601375) previously disclosed the announcement of performance increase in 2021. “Good news” came one after another. When will the “bull flag bearer” market start?
in 2021 net profit of 22.979 billion yuan
Citic Securities Company Limited(600030) on the evening of January 12, the annual performance express of 2021 was released, which said that in 2021, the net profit attributable to the shareholders of the parent company was 22.979 billion yuan, a year-on-year increase of 54.2%. The basic earnings per share is 1.77 yuan / share. The weighted average return on net assets was 12.01%, an increase of 3.58 percentage points compared with 2020. By the end of 2021, Citic Securities Company Limited(600030) total assets amounted to 1277.06 billion yuan, a year-on-year increase of 21.28%
Image Source: Citic Securities Company Limited(600030) announcement
It is worth mentioning that the performance express of Citic Securities Company Limited(600030) exceeded market expectations.
It is understood that Soochow Securities Co.Ltd(601555) previously estimated that the net profit attributable to the parent company in 2021 was 19.5 billion yuan; Everbright Securities Company Limited(601788) previously, it was estimated that the net profit of Citic Securities Company Limited(600030) in 2021 was 20.204 billion yuan; Northeast Securities Co.Ltd(000686) previously, it was estimated that the net profit attributable to the parent company in 2021 was 22.488 billion yuan.
Citic Securities Company Limited(600030) the performance in 2021 also exceeded their expectations. On the evening of January 4, Citic Securities Company Limited(600030) announced the pre increase announcement of annual performance in 2021. At that time, Citic Securities Company Limited(600030) it was expected that the net profit attributable to shareholders of the parent company in 2021 would not be lower than the level of the first three quarters of 2021, that is, not less than RMB 17.645 billion, an increase of at least 18.41% over the whole year of 2020.
As for the reasons for the better than expected performance, Citic Securities Company Limited(600030) said that China’s economy overcame the impact of the epidemic, continued to improve, the capital market developed vigorously, and the company’s investment banking, asset management and other businesses developed balanced and steadily in 2021.
Citic Securities Company Limited(600030) remind that the main financial data of 2021 disclosed this time is preliminary accounting data, which has not been audited by an accounting firm. The relevant data may be different from the data disclosed in the company’s 2021 annual report, but it is expected that the above difference will not exceed 10%.
two securities companies disclose performance pre increase announcement
In addition to Citic Securities Company Limited(600030) , Zheshang Securities Co.Ltd(601878) , Central China Securities Co.Ltd(601375) previously disclosed the performance pre increase report of 2021.
Zheshang Securities Co.Ltd(601878) the net profit is expected to increase by 488 million yuan to 651 million yuan compared with the previous year, with a year-on-year increase of 30% to 40%; Central China Securities Co.Ltd(601375) the net profit is expected to increase by 376 million yuan to 456 million yuan compared with the previous year, with a year-on-year increase of 360.20% to 436.90%.
For the reasons for the pre increase of performance, Zheshang Securities Co.Ltd(601878) said that the capital market was booming in 2021. The company actively grasped the market opportunities, continuously improved its core competitiveness and steadily developed its businesses, so as to realize the steady growth of net profit attributable to shareholders of listed companies.
Central China Securities Co.Ltd(601375) said that in 2021, the multi-level capital market was continuously improved and the capital market was booming. The company actively grasped the market opportunities and continuously improved its core competitiveness. The main businesses such as investment banking and primary and secondary market investment developed steadily.
When will the “bull market flag bearer” market start?
The “good news” of securities companies has come one after another. When will the “bull flag bearer” market start?
China International Capital Corporation Limited(601995) pointed out that in the long run, with the deepening development of the market, the securities industry is ushering in the reconstruction of three business segments: comprehensive investment banking, financial market and wealth management, relying on the increasingly rich needs of enterprise customers, institutional customers and retail customers (including high net worth), China International Capital Corporation Limited(601995) it is expected that leading securities companies with leading system and mechanism and comprehensive customer service capability and characteristic companies with outstanding differentiation advantages in subdivided fields will come to the fore.
Dongxing Securities Corporation Limited(601198) said that in 2022, under the expectation of the comprehensive registration system, many favorable policies can be expected. Superimposed on the continuous improvement of the attraction of China’s capital market and making the market cake bigger, it is expected that the prosperity of the securities industry will remain high, and the business cycle is expected to be significantly prolonged and reflect a certain growth. Among them, the head securities companies take the lead in benefiting from their investment banking and overseas layout advantages, the incremental space of the whole business chain can be expected, and the business structure will be further aligned with overseas investment banks. In terms of investment targets, it is recommended to continue to pay attention to the thematic opportunities of wealth management, and pay attention to the “growth” opportunities of large wealth management and “Pan investment bank” in the medium and long term.
In the view of Huabao securities, the current Pb valuation of the securities sector is located in the 44% quantile range of the historical high, with a safety margin. At present, the securities industry is basically oriented well, and the valuation deviates from the fundamentals. In the later stage, the valuation promotion logic of securities companies will still focus on wealth management.
