Last week’s market review of the securities sector: last week (2022.4.182022.4.24), the securities index synchronized with the equity index, which fell significantly again and hit a new low in the adjustment of this wave, but the range of the new low is limited. CITIC’s secondary industry index securities II fell 5.04% throughout the week, 0.85 percentage points lower than the CSI 300 index; Compared with 30 CITIC primary industry indexes, it ranked 18th, down 9 places month on month. Last week, the brokerage sector showed a general decline again. The average p / b of the sector was 1.31 times the highest and 1.27 times the lowest, and the highest and lowest were lower year-on-year. As of the closing on April 22, 2022, the average p / b of securities companies is 1.27 times.
Industry highlights: 1 On April 20, 2022, the 34th meeting of the Standing Committee of the 13th National People’s Congress voted and adopted the futures and derivatives law of the people’s Republic of China. 2. On April 21, 2022, in order to implement the relevant requirements of the CPC Central Committee and the State Council on increasing the proportion of direct financing and introducing medium and long-term funds and the work deployment of the financial commission of the State Council, Yi Huiman, chairman of the CSRC, held a symposium for the main principals of the national social security fund and some large banking and insurance institutions. 3. On April 22, 2022, Yi Huiman, Secretary of the Party committee and chairman of the CSRC, presided over the Party committee (expansion) meeting to convey and study the deployment of the special meeting of the financial committee of the State Council on the morning of April 22 on implementing the spirit of the recent important meeting of the Party Central Committee on current economic and social work.
Key announcements of listed securities companies: 1 Guosen Securities Co.Ltd(002736) released the annual report of 2021.
\u3000\u30002. China Merchants Securities Co.Ltd(600999) released the first quarterly report of 2022.
\u3000\u30003. China Securities Co.Ltd(601066) , Shenwan Hongyuan Group Co.Ltd(000166) , China Greatwall Securities Co.Ltd(002939) , First Capital Securities Co.Ltd(002797) release the record form of investor relations activities.
\u3000\u30004. Guosen Securities Co.Ltd(002736) , Soochow Securities Co.Ltd(601555) issued the announcement of holding the performance explanation meeting in 2021.
\u3000\u30005. Orient Securities Company Limited(600958) issue a suggestive announcement on A-share allotment.
\u3000\u30006. China Industrial Securities Co.Ltd(601377) issue the announcement that the application for allotment of shares has been examined and approved by the issuance examination committee of the CSRC.
\u3000\u30007. Caitong Securities Co.Ltd(601108) issue the announcement on the change of allotted shares and the listing of allotted shares.
\u3000\u30008. Gf Securities Co.Ltd(000776) , Sinolink Securities Co.Ltd(600109) issue the announcement of completing the issuance of short-term financing bonds.
Investment suggestion: in a short cycle, the securities sector will still maintain the trend of shaking the bottom of the market, and the space for further significant downward correction is limited. It is expected that the brokerage sector will still focus on the structural market, and the scope and strength depend on the equity index and the overall performance of the sector.
Risk tips: 1 The weakening of the equity and fixed income market environment led to the decline of the overall operating performance of the industry; 2. Market fluctuation risk; 3. The progress and strength of comprehensively deepening the reform of capital market are less than expected
