“Brokerage brother” net profit of 23.1 billion increased by 50% : wealth management super power 17 heavy stocks surfaced
Original title: China TimesChina Times reporter Wang Zhaohuan reported in Beijing on the evening of March 28, Citic Securities (600030.SH) released the annual report, 2021 to achieve business revenue of 76.524 billion yuan, a year-on-year increase of 40.71%;Net profit attributable to shareholders of the company reached 23.1 billion yuan, up 55.01% year on year.Among them, the company’s other business, proprietary business, brokerage business revenue were 18.582 billion yuan, 18.386 billion yuan, 18.289 billion yuan, become the three major contribution to the revenue, accounting for 24% on average;The high growth of commodity trading income was the main driving factor of other business income, with a year-on-year growth of nearly 80%.”China Times” reporters with flush iFinD statistics show that as of March 29, Citic Securities heavy warehouse stocks for 17;The latest purchase of 13, including electric wind power 8.4865 million shares, China Mobile 5.44 million shares, 4.88 million shares of Tian Chen shares, 3.83 million shares of Duofudo, Jiang Hang equipment 3.026 million shares.At the same time, holding the market value of more than 100 million shares of the heavy warehouse for Xin ‘an shares, multi-fluorine, ultra graphics software, China photoelectric gas, Boya biological, Jianghang equipment, electrical wind power.However, it is worth noting that in the annual income statement of Citic Securities, the impairment loss of other assets is 2.6 billion yuan, up 426% year on year, mainly due to the provision of goodwill and impairment loss of intangible assets.Among them, the provision for impairment of goodwill amounted to 2.069 billion yuan.In the view of professional analysts, as the head of the industry citic securities annual performance and performance express basic consistent, in line with expectations.After the completion of rights offering, the capital strength of the company has been enhanced and the company has further become a world-class large-scale comprehensive investment bank.In 2021, CITIC Securities achieved steady growth and significantly improved profitability.Among them, the company’s investment bank has obvious advantages, and the operating income of securities underwriting business is 7.753 billion yuan, up 19.50% year on year.In terms of domestic equity financing, the company completed 194 a-share lead underwriting projects in 2021, with the lead underwriting amount of 331.917 billion yuan, with A year-on-year growth of 5.84% and A market share of 18.26%, ranking first in the market.With the promotion of the registration system reform, the company continued to increase the coverage of IPO customers on the Science and Technology Innovation Board and the Growth Enterprise Board, and completed 68 IPO projects, issuing a total of 85.922 billion yuan, with a market share of 15.83%, ranking first in the market.The company completed 126 refinancing lead underwriting projects, with the lead underwriting amount of 245.995 billion yuan and market share of 19.29%, ranking first in the market.At the same time, completed 86 cash type private placement projects, with a total underwriting amount of 147.581 billion yuan, market share of 20.43%, ranking first in the market.Debt financing business continued to maintain its leading position in the industry, with a total underwriting amount of 1,564.054 billion yuan, up 20.02% year on year.Underwriting amount accounted for 13.74% of the total underwriting amount of securities companies, ranking first among peers;The transaction amount of a-share major assets reorganization was 95.915 billion yuan, ranking first in the industry.In addition, in 2021, the company will actively carry out the sponsor underwriting business of THE Beijing Stock Exchange, adhere to optimizing the market-making position structure, increase the coverage of high-quality enterprises, and attach great importance to quality control to effectively control business risks.By the end of the report period, the company, as the sponsor broker of the New Third Board, has supervised a total of 12 listed companies, among which 7 have entered the innovation layer.In 2021, as a sponsor broker, the company helped 2 companies to complete the selective level public offering and move to the BSE. The company provided market making services for 31 listed companies, among which 1 company has become a BSE listed company and 23 companies have entered the innovation level.Citic Securities said that in 2022, it will further expand the coverage of domestic and foreign customers and increase project reserves;Strengthen research on emerging industries, important customers and innovative products, proactively optimize business structure according to market development and customer demand, obtain key transactions from important customers, and further enhance global market influence;Closely follow up policy changes, and continue to make arrangements for the overall and steady progress of registration system, dual listing of Shanghai-Shenzhen Stock Connect and AH shares, return of overseas companies to A-share listing, IPO and refinancing of BSE and other businesses;Strengthen equity underwriting business capacity, strict project quality management, give full play to the advantages of the company’s platform, provide customers with comprehensive investment banking services.In 2021, CITIC Securities will continue to deepen the transformation of wealth management to achieve high-quality development of brokerage business.By the end of the report period, the total number of customers has exceeded 12 million, and the asset scale of custodial customers is 11 trillion yuan, up 29% compared with the end of 2020.Among them, there are 158,000 clients with assets of more than 2 million yuan and the asset scale is 1.8 trillion yuan, up 25% and 21% respectively compared with the end of 2020.The number of high-net-worth customers with assets of more than 6 million yuan was 35,000, and the asset scale was 1.5 trillion yuan, up 29% and 19% compared with the end of 2020 respectively.The number and asset size of these wealth clients and high net worth clients have doubled since the end of 2018.The size of public and private funds exceeded 380 billion yuan, up 26% year on year;Wealth management income accounted for 30% of wealth management business revenue;In the whole year, the trading volume of stock base was 38.4 trillion yuan, up 34% year on year, and the market share was 7.16%, up 0.29% year on year.Wealth management has become a more important source of revenue for companies.In 2021, the company’s wealth management income has increased to 30% of the income of the wealth management sector, while the traditional channel income, such as the income from brokerage and trading of securities, still maintains the market share growth.The income sources of wealth management are more diversified, which further enhances the role of wealth management as a stabilizer in corporate operation.In addition, in terms of asset management and management, it achieved operating revenue of 13.514 billion yuan in 2021, with a year-on-year growth of 41.35%.In 2021, the total asset management scale of the company is 1,625.735 billion yuan, including the aggregate asset management plan and single asset management plan, with the scale of 660.485 billion yuan and 965.250 billion yuan respectively.The market share of the company’s private asset management business (excluding pension business, public collection products and asset securitization products) under the new asset management regulations is about 15.87%, ranking first in the industry.By the end of the report, the assets under management of China Amc headquarters amounted to 1,661,607 billion yuan.Of this amount, the management volume of public funds was 1,038375 billion yuan;The assets under management of institutional and international businesses reached 623.232 billion yuan.Citic Securities said that in 2022, the company’s asset management business will continue to adhere to the “based on institutions, expand retail” customer development strategy, adhere to the customer-centric management mechanism, and continue to improve customer development capabilities and comprehensive financial services level.Focus on active management, long-term net worth, “fixed income +” and equity and other multi-asset models.Focus on promoting professional construction and fine management of investment and research team.At the same time, we will continue to expand and strengthen the pension business, consolidate the leading position of institutional business, innovate business models based on customer needs, continue to vigorously develop customized FOF and other businesses, further expand the retail customer base, and pay attention to the Internet channel customer diversion.Pay attention to coordination and overseas business layout, prepare for the establishment of the asset and pipe company, continue to promote the digital construction of asset management business, and ensure the completion of the new generation of business platform of asset management as planned.Citic securities in March 29, the relevant person in charge of the results of the conference held online further said that the future of the capital pipe company and China Fund have different focus, the capital pipe company has more advantages in the institutional business, and China Fund to individual customers, focus on the development of retail business.Huajin Securities analyst Cui Xiaoyan said that the company’s annual performance and performance of the express basically consistent, in line with expectations.In January, the company completed a rights offering to raise 22.396 billion yuan, strengthening its capital strength and expanding its balance sheet. While consolidating its leading position in China, the company will further become a world-class large-scale comprehensive investment bank.Slightly raised earnings forecast for 2022-2024 based on 2021 results.In 2021, the Shanghai-Shenzhen 300 index fell 5.20%, while the CSI 500 index rose 15.58%.In 2021, the average daily turnover of the two cities will exceed one trillion yuan, with a year-on-year growth of more than 20%. The market structure is becoming more differentiated, plate rotation is fast, the theme of high prosperity and high growth is relatively strong, and the rise of the new energy industry leads the whole year.Citic Securities achieved operating revenue of 18.386 billion yuan in securities investment business in 2021, with a year-on-year growth of 37.14%.Citic Securities pointed out that the company’s stock proprietary business adhere to focus on the fundamentals of listed companies, increase investment in the emerging technology industry, pay attention to the integration of the company’s resource advantages, take the industry chain research as the entry point, strengthen cross-industry comparative research, overall maintain a stable performance.In the quantitative analysis and multivariate strategy exploration and practice of steady progress, enhance the market style and industry rotation of adaptation and adjustment ability.”China Times” reporters with flush iFinD statistics show that as of March 29, Citic Securities heavy warehouse stocks for 17.Holding the market value of more than 100 million shares of heavy positions for Xin ‘an shares, multi-fluorine, super map software, Guoguang Electric, Boya Biological, Jianghang equipment, electric wind power.Xin ‘an Shares on March 22 released the annual performance report said that 2021 operating revenue of 18.977 billion yuan, a year-on-year increase of 51.45%;The net profit attributable to shareholders of listed companies was 2.654 billion yuan, up 354.56% year on year;Basic earnings per share were 3.25 yuan, up 335.6% year on year.On March 21, Duofluduo released the 2021 annual report, achieving a total operating revenue of 7.799 billion yuan, an increase of 85.29%;Net profit attributable to shareholders of listed companies is 1.26 billion yuan, up 2,490.80% year on year;Net profit excluding non-recurring gains and losses attributable to shareholders of listed companies was 1.236 billion yuan, up 860.32% year on year.Citic Securities said that in 2022, the company will continue to optimize the investment and research system in the stock proprietary business, deepen the forward-looking research with the industrial chain research as the starting point, continue to explore and develop a multi-strategy investment system, and improve the ability to use capital.In terms of bulk commodity business, the company will continue to expand customer market coverage, enrich customer group levels, optimize customer structure, increase the proportion of industrial customers, and continue to strengthen the service strength of real industrial customers.At the same time, enrich the product design, covering the global mainstream varieties of goods, provide a variety of derivatives, for domestic and overseas customers with hedging tools and risk transfer channels, make commodities companies to provide comprehensive financial services a important link in a chain, earnestly implement the financial management concept is to serve the real economy.In the opinion of Wang Weiyi, an analyst of Ping An Securities, in the context of strengthening the Matthew effect in the industry, the company’s leading advantages in a number of businesses continue to expand, comprehensive service capacity and professional capacity to improve competition barriers, priority to benefit from the capital market reform.Wang Weiyi said that since this year, the market volatility, the company as the industry leader income structure is more balanced, although affected by market fluctuations, but expected performance stability is better than the industry average level,Therefore, the company in 2022, 2023, 2024 return to the mother net profit forecast to 24.2 billion yuan, 26.9 billion yuan, 30 billion yuan (the original forecast for 2022, 2023 return to the mother net profit 22.9 billion yuan, 25.1 billion yuan, new 2024 forecast), year-on-year growth of 5%, 11%, 11%.