[Opportunity mining]The market-wide registration system may speed up the brokerage IPO business space is expected to further expand_ 东方 Fortune.com

According to a Xinhua News Agency report on December 30, the chairman of the China Securities Regulatory Commission, Yi Huiman, said in an interview that since this year, we have systematically reviewed and evaluated the experience of the pilot registration system for the Sci-tech Innovation Board and the Growth Enterprise Market, and timely identified and resolved problems and responded to market concerns.Set up BeijingSecuritiesThe exchange also carried out a pilot registration system at the same time. In general, the pilot project has achieved the expected goals, and the conditions for the full implementation of the registration system have gradually been met. At present, we are stepping up efforts to formulate a market-wide registration system reform plan and steadily advance relevant preparations to ensure the smooth implementation of this major reform.

GalaxySecuritiesIt is pointed out that the comprehensive registration system has accelerated, and the investment banking business has significantly benefited from the release of system dividends. In a single month in November, the market-wide equity financing scale was 259.298 billion yuan, a year-on-year increase of 54.57%; the IPO financing scale was 39.568 billion yuan, a year-on-year increase of 35.47%. The Central Economic Work Conference will be held on December 8, 2021, requiring the full implementation of the registration system for stock issuance. The full registration system is likely to be implemented in 2022, and the efficiency of capital market element allocation will be improved.BrokerageThe IPO business space was further expanded.

Financial letterSecuritiesIt is believed that the Central Economic Work Conference has set the tone for the full implementation of the registration system in 2022, and the implementation of the market-wide registration system reform in 2022 is expected. As a newly established stock exchange in 2022, the Beijing Stock Exchange is expected to contribute incremental space to the investment banking business of securities firms. Under the registration system, investment banks have played the role of value finder instead of the original channel role. The investment bank business will provide enterprises with full business chain and full life cycle business services, thereby creating diversified income increments for investment banks and capitalization of investment banks. broad. Under the trend of institutionalization, the prospects for the development of the PB business and derivatives business of securities firms are optimistic.

In 2022, the securities industry is expected to be driven by loose liquidity, favorable market environment, stable operation of the Beijing Stock Exchange, and implementation of the market-wide registration system reform.PerformanceThe overall trend is good, and the RRR will be lowered in due course.currencyThe loosening of policy margins will increase investor risk appetite and raise valuations, while the overall valuation of the securities industry is still at a historically low level, in the last 11% quintile since 2000. Caixin Securities believes that the stock market in 2022 can be expected. For the investment mainline, it is recommended to pay attention to the three main lines of high-quality top brokerage firms, outstanding wealth management advantages, and the top brokerage firms in investment banking business.Highly recommentedCITIC Securities、Oriental wealth、Huatai Securities、Orient Securities。

(Source: Securities Times Net)

Article source: Securities Times

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Original Title:[Opportunity Mining]The market-wide registration system may speed up the IPO business space of securities firms and is expected to further expand