Securities companies are expected to maintain a high boom in the new year; The banking sector continued to make efforts, and the annual performance of six shares increased by more than 20%.
Citic Securities Company Limited(600030) annual performance exceeded market expectations
On January 13, Citic Securities Company Limited(600030) released the annual performance express of 2021. The express shows that in 2021, under the background of China’s economy overcoming the impact of the epidemic, continuing to improve and the vigorous development of the capital market, Citic Securities Company Limited(600030) ‘s investment banking, asset management and other businesses developed in a balanced and steady manner. The annual revenue of the company was 76.57 billion yuan, a year-on-year increase of 40.8%; The net profit attributable to the parent company was 22.979 billion yuan, a year-on-year increase of 54.2%. Both indicators are the highest in recent 5 years.
It is worth noting that there is a big difference between this express data and the performance forecast data 8 days ago. In the performance forecast, the company said that the net profit attributable to the parent company and net profit deducted from non parent company in 2021 are expected to be no less than RMB 17.645 billion and RMB 17.531 billion respectively, with a year-on-year increase of no less than 18.41% and 17.66%. These two figures are actually 54.2% and 55.61% in the express, about three times the forecast value. This performance of also means that Citic Securities Company Limited(600030) has achieved the conditions for the issuance of allotments with continuous profits in the last three fiscal years, and the previously approved allotment scheme of 1.597 billion shares is expected to be implemented.
Among securities companies, Zheshang Securities Co.Ltd(601878) and Central China Securities Co.Ltd(601375) have also issued annual performance forecasts. Zheshang Securities Co.Ltd(601878) said that in 2021, the company closely focused on the strategic goal of serving the real economy and the steady development of various businesses. It is expected that the annual net profit attributable to the parent company will increase by about 488 million yuan – 651 million yuan year-on-year, with a year-on-year increase of about 30% – 40%; Central China Securities Co.Ltd(601375) also said that the company’s investment banking business, primary and secondary market investment and other main businesses developed steadily. It is expected that the net profit attributable to the parent company will increase by 376 million yuan to 456 million yuan year-on-year in 2021, with a year-on-year increase of 360.2% – 436.9%.
Western Securities Co.Ltd(002673) said that the total stock trading volume and average daily turnover of the A-share market in 2021 increased by 24.3% and 24.8% respectively year-on-year, and the number and amount of IPOs reached a record high. As of December 31, the average daily balance of two financial institutions in Shanghai and Shenzhen had increased by 36.5% compared with that in 2020. Core indicators reached a new high, and the outlook of securities companies continued to rise. Recently, regulators intensively released a number of business rules and planned to introduce a market maker mechanism into the science and innovation board, which is expected to improve the profit stability of securities companies with competitive advantages.
Performance of 6 bank stocks increased by more than 20%
Since 2022, the banking sector has continued to exert its strength, and the index rose unilaterally against the market, with a cumulative increase of 4.29%. Among the constituent stocks, Bank Of Chengdu Co.Ltd(601838) , Bank Of Jiangsu Co.Ltd(600919) , Industrial Bank Co.Ltd(601166) , Jiangsu Suzhou Rural Commercial Bank Co.Ltd(603323) led the gains, all exceeding 10%; In addition, Postal Savings Bank Of China Co.Ltd(601658) , Jiangsu Changshu Rural Commercial Bank Co.Ltd(601128) , Bank Of Nanjing Co.Ltd(601009) increased by more than 8%.
According to the statistics of securities times · databao, at present, 7 bank stocks have issued performance express / forecast (only Bank Of Chengdu Co.Ltd(601838) net profit attributable to the parent company year-on-year growth data is the median of the performance forecast range), of which 6 have increased their performance by more than 20%. Bank Of Jiangsu Co.Ltd(600919) took the lead, and the net profit increased by 30.72% year-on-year; China Citic Bank Corporation Limited(601998) temporarily ranked last, and the net profit increased by 13.6% year-on-year; The performance growth of the other five banks fell in the range of 20% – 25%.
Analysts said that the epidemic was effectively controlled in 2021 and China’s economy continued to recover, laying a foundation for the improvement of the operating performance of listed banks; Affected by the epidemic, the net profit of banks is generally low in 2020, and the low base also pushes up the year-on-year growth of net profit of banks. It is expected that the overall profit of the banking industry may maintain rapid growth in 2021.
The latest valuation of the banking sector is about 5.48 times. Among the bank stocks with published performance, only the latest rolling P / E ratio of China Citic Bank Corporation Limited(601998) , Bank Of Jiangsu Co.Ltd(600919) , Industrial Bank Co.Ltd(601166) is lower than this value. In terms of institutional attention, Jiangsu Changshu Rural Commercial Bank Co.Ltd(601128) , Bank Of Jiangsu Co.Ltd(600919) , Industrial Bank Co.Ltd(601166) have attracted more institutional attention, with 28 rating agencies, 24 rating agencies and 20 rating agencies respectively; Bank Of Chengdu Co.Ltd(601838) and China Citic Bank Corporation Limited(601998) were also rated by 16 and 10 institutions respectively.
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