Last week's market review of the securities sector: last week (2022.5.162022.5.22), the securities index fluctuated horizontally and narrowly from the low level from week 1 to week 4, rebounded with various equity indexes on week 5, maintained the trend of shock rebound in the short term, and achieved two consecutive positives on the weekly line. CITIC secondary industry index securities II rose 1.41% for the whole week, underperforming the CSI 300 index by 0.82 percentage points; Compared with 30 CITIC primary industry indexes, it ranked 21st, down 2 places month on month. Last week, the brokerage sector achieved a general rise again, but the rise and fall of individual stocks converged significantly month on month. The average p / b of the sector was 1.17 times the highest and 1.15 times the lowest, and the highest and lowest were higher year on year. As of the closing on May 20, 2022, the average p / b of securities companies is 1.17 times.
Industry highlights: 1. On May 20, 2022, the CSRC guided the Shanghai and Shenzhen Stock Exchange to officially launch scientific and technological innovation corporate bonds on the basis of early pilot. 2. On May 20, 2022, the CSRC issued the measures for the supervision and administration of managers of publicly offered securities investment funds. 3. On May 20, 2022, the CSRC issued the notice on further exerting the function of capital market to support the recovery and development of areas and industries seriously affected by the epidemic.
Key announcements of listed securities companies: 1 Gf Securities Co.Ltd(000776) , Hongta Securities Co.Ltd(601236) , Western Securities Co.Ltd(002673) , Guoyuan Securities Company Limited(000728) release the record of investor relations activities. 2. Sinolink Securities Co.Ltd(600109) , The Pacific Securities Co.Ltd(601099) , Huaxi Securities Co.Ltd(002926) , Shanxi Securities Co.Ltd(002500) will hold 2021 annual performance briefing.
\u3000\u30003. China Greatwall Securities Co.Ltd(002939) , Northeast Securities Co.Ltd(000686) issued the announcement on the implementation of annual equity distribution in 2021.
\u3000\u30004. Central China Securities Co.Ltd(601375) issue a suggestive announcement that the proportion of shares held by controlling shareholders is up to 1%.
\u3000\u30005. Notice of changes in equity and above.
\u3000\u30006. Gf Securities Co.Ltd(000776) , Western Securities Co.Ltd(002673) issue the announcement of completing the issuance of short-term financing bonds.
Investment suggestion: in the short cycle, the brokerage index has room and expectation for further rebound, but it will still maintain the trend of shock at the bottom of the market as a whole. 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
