Cailianshe (Shenzhen, reporter Zou Chenhui and Gao Yun) reported that the stock price of Oriental Fortune hits a new high, with a total market value approaching 400 billion yuan. Under the leadership of Oriental Fortune and CATL , ChiNext Index also once again challenged the previous high of 3560 points.
Overall, the total market value of Oriental Fortune currently exceeds CITIC Securities 45.5 billion yuan, CITIC Securities 73.2 billion yuan, and CITIC Construction Investment 130 billion yuan, which is twice that of China Merchants Securities , Haitong Securities , Guotai Junan , Huatai Securities, etc., and Guosen Securities , China Galaxy , China Galaxy , etc.
7 opened on July 21, and the stock price of Oriental Fortune opened higher and closed higher and . The stock price hit a new high of 34.78 yuan since its listing. As of the close, Oriental Fortune's stock price closed at 34.19 yuan. The increase in on the same day was 5.3%, the net inflow of main funds was 1.935 billion yuan, and the turnover of html was 412.6 billion yuan. It is worth noting that this year, the leading Internet brokerage firm has risen by 32.56%, which is far higher than other traditional brokerage firms.
At present, Oriental Fortune's total market value is 353.4 billion yuan, and the gap with securities companies such as CITIC Securities is gradually widening, 45.5 billion yuan higher than CITIC , ranking 32nd among more than 4,400 listed companies. In addition to Oriental Fortune's surge, Hongta Securities hit the daily limit on that day, CICC Company, Nanjing Securities , CICC , Founder Securities , etc. followed suit.
As of today's closing, the top ten securities companies in total market value are Oriental Fortune (353.4 billion yuan), CITIC Securities (307.9 billion yuan), CICC (280.2 billion yuan), CITIC Construction Investment (223.4 billion yuan), China Merchants Securities (157.9 billion yuan), Haitong Securities (155.5 billion yuan), Guotai Junan (152.9 billion yuan), Huatai Securities (140.1 billion yuan), Shenwan Hongyuan (112.4 billion yuan), and GF Securities (111.3 billion yuan).
Oriental Wealth target price has been continuously raised
Oriental Wealth The total market value exceeded CITIC Securities for the first time in May this year. Cailianshe reporters previously reported that on May 19, Oriental Fortune's stock price closed at 35.22 yuan, with a total market value of 303.355 billion yuan.
On the same day, CITIC Securities, which has always been regarded as an industry beacon, closed at 24.78 yuan, with a total market value of 302.572 billion yuan. Since then, Oriental Fortune and CITIC Securities have alternately led the market value until recently, Oriental Fortune’s total market value has begun to significantly increase.
funds are optimistic about Oriental Wealth, which is related to its recent high growth performance. According to the performance forecast of Oriental Wealth, the net profit is expected to be about 3.5 billion yuan to 4 billion yuan in the first half of the year, an increase of 93.53% to 121.18% year-on-year. In addition, Oriental Fortune Securities achieved revenue of 3.114 billion yuan in the first half of the year, an increase of 66.4% year-on-year; net profit of 2.071 billion yuan, an increase of 81.7% year-on-year.
More than one brokerage firm has raised the target price of Oriental Wealth, and the brokerage firm has given a target price of 51 yuan, which still has a lot of room compared to the current closing price of Oriental Wealth .
Guotai Junan Non-Bank Chief Liu Xinqi believes that during this round of semi-annual report disclosure period, it is expected that the financial indicators of securities sector will be better than insurance, and the securities sector is still the "first recommendation" of the non-banking industry at present. Liu Xinqi said that Oriental Fortune's securities business achieved a profit growth of 82% in the first half of the year, far exceeding the industry average; non-securities business maintained a growth rate of more than doubled, and fund distribution business continued to grow at a high rate. The performance forecast of Oriental Wealth also further verifies the huge development potential of equity wealth management business, and it is recommended that investors pay attention to securities firms with a high proportion of wealth management income.
Caixin Securities Research Report believes that Oriental Fortune's H1 performance forecast in 2021 exceeded market expectations and exceeded previous expectations. Previously, Wind unanimously expected the company's net profit attributable to shareholders in 2021 to be 6.482 billion yuan. According to the company's first quarter report and semi-annual performance forecast, the company's net profit attributable to shareholders in Q1 and Q2 2021 was 1.911 billion yuan and 1.589-2.089 billion yuan respectively.
Caixin Securities said that the main reason for Oriental Fortune’s semi-annual performance exceeded expectations was that the revenue of financial e-commerce services ( fund sales business) exceeded expectations. As a leader in the wealth management track, the company's financial e-commerce service business is expected to grow rapidly. With the increasing demand for residents' financial management, the increase in the proportion of direct financing and the continuous expansion of funds, Oriental Fortune's Internet traffic monetization has become a target that has benefited a lot in the market.
Caixin Securities Research Report stated that according to the company's forecast and the basic market situation in 2021, it is expected that the company's H1 growth rate in 2021 will mainly come from financial e-commerce service business. It is expected that the H1 company's fund sales in 2021 will be about 1,160 billion yuan, and the financial e-commerce service business revenue will be 2.668 billion yuan, with a year-on-year growth rate of 133.44%. It is expected to achieve e-commerce service business revenue for the whole year, a year-on-year increase of 85.81%.
Huachuang Securities stated that Dongcai Securities contributed more than half of the parent company's net profit. While Dongcai Securities' brokerage business continues to grow rapidly, the scale of credit business has accelerated. Against the backdrop of the steady market, the company can still maintain relatively certain performance growth, and the market share of stock fund transactions and credit business continues to increase in solid performance, and performance growth is expected to be faster than the industry. The company's asset management business, international business and wealth management are in its infancy. In the future, we can continue to pay attention to the company's transformation results in new businesses.
GF Securities research report says that Oriental Fortune's current performance has the thrust of the "three-stage rocket". The first level is traditional securities business, which has achieved rapid growth based on its flow advantages; the second level is agency sales business, a huge blue ocean; the third level is asset management, which is being laid out. If overseas business can be done, there will be a fourth level.
The total market value has widened the gap with traditional brokers, and other brokers have also ushered in opportunities?
As of today's closing, the top ten securities companies in total market value are Oriental Fortune (353.4 billion yuan), CITIC Securities (307.9 billion yuan), CICC (280.2 billion yuan), CITIC Construction Investment (223.4 billion yuan), China Merchants Securities (157.9 billion yuan), Haitong Securities (155.5 billion yuan), Guotai Junan (152.9 billion yuan), Huatai Securities (140.1 billion yuan), Shenwan Hongyuan (112.4 billion yuan), and GF Securities (111.3 billion yuan).
other brokerage firms that entered the top 20 are Guosen Securities (106.7 billion yuan), China Galaxy (101.6 billion yuan), Oriental Securities (76.7 billion yuan), Founder Securities (74.8 billion yuan), Everbright Securities (74 billion yuan), Zhongtai Securities (65.6 billion yuan), Industrial Securities (61.5 billion yuan), Guo Investment Capital (51.7 billion yuan), Hongta Securities (51.4 billion yuan), and Caida Securities (49.5 billion yuan).
It can be seen from this that the total market value of Oriental Fortune currently exceeds CITIC Securities by nearly 50 billion yuan, exceeds CICC Company 70 billion yuan, exceeds CITIC Construction Investment by 130 billion yuan, twice that of China Merchants Securities, Haitong Securities, Guotai Junan, Huatai Securities, etc., and three times that of Guosen Securities and China Galaxy.
From the perspective of the non-bank financial sector, it has been in a downward channel for most of this year, at a relatively low level. As Oriental Fortune's stock price fluctuates and rises continuously hit new highs, some securities firms' research reports pointed out that the securities sector has also ushered in layout opportunities. Chen Fu, chief analyst of GF Securities' non-bank, said in his circle of friends that we believe that the two major catalysts in the securities sector are in a positive state, with low valuation and high growth, and it is recommended to lay out sector opportunities.
Judging from the interim performance forecast of securities companies, according to statistics from Cailianshe reporters, as of July 21, 29 securities companies or listed companies have disclosed their performance in the first half of this year, and 25 of the 29 securities companies or performance disclosure entities have achieved positive growth. Among them, the top three are CITIC Securities, Haitong Securities and China Merchants Securities.
Bohai Securities stated that benefiting from the market environment, the performance of listed securities companies is expected to increase. In terms of trading volume, in the first half of this year, the average daily trading volume of stock funds in the two markets was 908.763 billion yuan, an increase of 21% year-on-year; the scale of IPO fundraising reached 210.95 billion yuan, an increase of 52% year-on-year.
BOC Securities points out that it is firmly optimistic about the prospects for the transformation and development of securities companies. Capital market reform and opening-up policies continue to advance and accelerate, and the industry's high-quality development trend supports the valuation centers of leading securities companies and wealth management specialty securities companies to continue to rise.
On the one hand, regulatory policies are tilted towards the head, capital market is becoming increasingly institutionalized, and the transformation of various securities businesses puts higher requirements for comprehensive strength, and leaders benefit more, especially the introduction of market-making businesses, which may further promote the increase in industry concentration; on the other hand, the "moving" of residents' wealth has brought broad market space to wealth management business, the competition for fund investment advisors is fierce, and the necessity of differentiated competition is highlighted. Special securities companies with outstanding advantages in fund agency sales (channel side) and public funds (product side) are expected to stand out.
For investors, can they still chase the rise after the securities sector performs today? Hu Bo, fund manager of
Private Equity Ranking Network, told Cailianshe reporters that the rotation characteristics of the market sector have been relatively obvious recently. In addition, the securities sector has been adjusted sufficiently in the early stage, and the trading volume has continued to maintain a high level recently. Therefore, the securities sector with valuation advantages has risen to a certain extent under the rotation market. In the later stage, market uncertainty factors are still relatively high, so you need to be cautious when chasing highs.
