The listing of securities firms will welcome the "small climax" research to become one of the core competitiveness

The number of A -share listing brokers is expected to continue to increase. The IPOs of Dongguan Securities and Cinda Securities have passed, and they are only "one step away." The queues are also increasing, including 5 brokerage including the first securities, Bohai Securities, Caixin Securities, open source securities, and Huabao Securities. On the evening of July 5, open source securities and Huabao Securities successively disclosed the IPO prospectus.

The securities industry in my country is currently facing "internal and external pinch". First of all, the industry concentration continues to increase, Hengqiang, the stronger of the head securities firms, and small and medium -sized securities firms to survive in the gaps; second, financial institutions such as banks, insurance, funds, and other financial institutions are also constantly penetrating the business field of the securities firm and forming a positive competition with the brokerage firms. With the continuous opening of my country's capital market to the outside world, the influx of foreign institutions has also brought new challenges to my country's voucher business.

If it can be successfully listed, it will undoubtedly further strengthen the development of brokerage firms. According to a reporter from the Securities Daily, from the first securities firm in 1994 to the A shares to the listing of CICC in 2020, the top ten brokerage firms of the A -share "collecting together" total assets. According to data from the China Securities Association, the sum of the total assets of the total assets in 2021 accounted for 48.88%of the industry's total assets, and its operating income in the top ten business income accounted for 48.26%of its operating income.

Regulatory policies have also supported and encouraged securities firms to further supplement capital, highlight the siege in multiple competitions, and achieve differentiation and characteristic development. At present, the two brokers and five IPO brokers who have passed the IPO this year are small and medium -sized securities firms that are intended to be "small and beautiful".

"For securities firms, the scale of its funds restricts the upper limit of the development of securities firms to a considerable extent." Chen Mengjie, chief strategy analyst of the Guangdong Institute of Securities Research, said that in the context of the current head effect of the brokerage company, the IPO is used to supplement the funds. It is conducive to small and medium -sized securities firms to further play a strong business advantage based on resource endowments and create differentiated competitiveness.

The first securities mentioned in the prospectus that some small and medium -sized securities companies have replenished the lack of functional and local resource advantages in the subdivided fields and local resources. The results. Open source Securities stated in the prospectus that successful listing can make up for the company's shortcomings in net capital, which will help the company to expand its business and enhance the company's overall competitiveness in the industry.

So, what business will be exerted if the above five IPO brokers are planning to be listed successfully? After sorting out the reporter, it was found that the use of funds to be listed on the listing of securities firms will be mainly used for the transformation of brokerage business, enhance the investment bank's business strength, increase the investment in credit transactions, self -employment, asset management, research, information technology, compliance risk control, and continue to continue "Blood transfusion" subsidiary.

Among them, as one of the pillars of the pillar business of most securities firms, in the context of the continuous decline of homogeneous competition to increase the commission rate, it has become an important point for the IPO securities firms, including the transformation of comprehensive transformation to wealth management business and increased online online. Coordinated development with offline business, optimizing outlet layout, and building wealth management centers.

And vigorously developing the asset management business has also become the consensus of the IPO brokerage firms. Caixin Securities intends to use raised funds to increase the introduction of outstanding investment research, marketing, product design and development talents, improve the company's product design capabilities, transform and develop more rich asset management Products; Huabao Securities has formed strong management capabilities in FOHF and innovative solidarity products. It will use raised funds to further expand the scale of securities asset management business and appropriately increase their own funds.

At present, "research power" has gradually become one of the core competitiveness of securities firms. The intended IPO securities firm also hopes to further promote the research -driven business model and strengthen the research on the promotion and support of the core business. The first securities intends to use the raised funds to strengthen the investment in research business, form a competitive seller research team, and provide research support for the company internally in terms of company strategic planning, important business promotion and financial product innovation. In addition, the IPO broker also hopes to continue to "blood transfusion" to subsidiaries through fundraising to build a more balanced business portfolio.

It is worth mentioning that from 2017 to 2021, the securities industry invested a total of nearly 120 billion yuan in the field of information technology. In the classification supervision of securities companies, the proportion of information technology investment in operating income became an important evaluation indicator. Five IPO brokers will increase investment in information technology construction and enhance digital service capabilities. Bohai Securities intends to use raised funds to increase the system construction of Internet finance, develop financial product sales sales system and a new generation account system, improve the management and online payment capabilities of multiple accounts, and build an online and offline integrated wealth management system.

Of course, in addition to vigorously developing the main business and information technology system construction, consolidating the rules and wind control is the foundation of the development of brokerage firms. Cinda Securities intends to use some raised funds to strengthen the construction of professional teams in the regulatory risk control and ensure the level of allocation of personnel risk control personnel. (Reporter Zhou Shangzheng)

[Editor in charge: Li Tong]

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