Our reporter Wang Siwen
According to statistics from the "Securities Daily" reporter, as of the evening of March 6, all February monthly reports of 37 listed securities firms have been published. Overall, under the premise of jointly combating the new crown pneumonia epidemic, listed brokers "remote office without losing work", in February ushered in a "double harvest" of revenue and net profit performance.
According to the statistics of the listed securities companies' announcements, in February, 37 listed securities companies realized a total operating income of 26.399 billion yuan and a net profit of 11.473 billion yuan, an increase of 41.42% and 49.86%, respectively.
Back in January 2020, due to the effects of the Spring Festival and the high base in December of last year, the revenue of listed securities firms fell month-on-month. In February, the new crown pneumonia epidemic changed the way companies work. Many investment bankers and brokerage business people told the Securities Daily reporter that their peers are almost all working remotely from home. This has caused some investors to worry about the development of the brokerage business and Broker performance. However, according to the February monthly report, the epidemic situation did not affect the operating data of listed securities companies, but instead achieved a turnaround in performance due to record-breaking market transactions.
For the reason that the net profit of listed securities companies in February increased significantly month-on-month, the Tianfeng Securities non-bank team said: "By benefiting from the continuous release of liquidity from the regulatory layer and the continuous advancement of capital market reforms, the A-share market has shown strong resilience. The performance of brokerage companies achieved high growth quarter-on-quarter and year-on-year. "
From the perspective of February's net profit indicators, the top ten list of listed securities companies in turn are: CITIC Securities, Guoxin Securities, Haitong Securities, CITIC Construction Investment, Guotai Junan, Huatai Securities, China Merchants Securities, China Galaxy, GF Securities, and Shenwan Hongyuan Securities. The aforementioned securities firms also ranked among the top ten in February's revenue list.
In the context of active stock market trading sentiment and a steady upward trend in investor risk appetite, a number of securities firms have the ability to "gold" in a single month. Among them, CITIC Securities earned 1.182 billion yuan a month, far ahead of other listed securities firms; there were 9 listed securities firms with a net profit of more than 500 million yuan, an increase of 4 compared with January.
In addition to the overall good performance, the net profit growth of many listed securities companies is also "warm and warm." According to the "Securities Daily" reporter combing and found that in February, 12 brokers' net profit increased by more than 100%, including Tianfeng Securities, Pacific Securities, Zhongyuan Securities, Guotai Junan, Guoxin Securities, Changjiang Securities, Nanjing Securities, Founder Securities, Hualin Securities, Great Wall Securities, Huatai Securities, Huaan Securities. Among them, Tianfeng Securities' net profit in February increased by 777.37%. From the perspective of profit and loss, the net profit of listed securities companies in February were all positive, and no performance loss occurred.
In fact, the popularity of various business indicators of the securities companies in February was inseparable from the development of the capital market and the favorable factors of the stock market. According to data from Bohai Securities, in February 2020, the average daily stock base turnover reached 1,015.3173 billion yuan, an increase of 39.59% from the previous month and an increase of 64.42% from the same period last year. The agency business of securities trading alone brought an increase of 5.09 billion yuan in revenue (Commission rate is calculated at 0.0288%). In addition, the market's trading sentiment has remained active since March, which has directly benefited the brokerage business of brokerages.
However, the investment banking business was directly affected by the epidemic. Data show that the scale of equity financing in February was 71.077 billion yuan, a decrease of 20.49% month-on-month, and the amount of bond financing was 176.588 billion yuan, a month-on-month decrease of 24.02%. Bohai Securities believes that with the acceleration of the resumption of production and resumption of production and the completion of the reform of the capital market's refinancing system, equity financing will usher in greater development, and investment banking will benefit from this.
Under the current market background, non-bank research teams of securities firms are generally optimistic about the investment opportunities of securities firms. The agency believes that the recent reform of the capital market has steadily advanced, the new registration reform of the securities law has officially taken effect, and the securities firm will launch a high-level model of the integrated banking synergy investment banking ecosystem. Brokerage fund investment advisory pilots set sail to upgrade wealth management, which will reshape the profit model of brokers and broaden wealth management revenue boundaries. Huatai Securities believes that securities firms are important builders and beneficiaries of the capital market and are expected to benefit preferentially. (Securities Daily)