CITIC Securities 65438+ 10 19 to 26 will be suspended all day, and brokers will issue shares in 2022, ahead of previous years. On June 5438+ 10, CITIC Securities, the "first brother of securities firms", put forward a 28 billion rights issue plan, and CITIC Securities will suspend trading all day from June 5438+ 10/9 to June 26.

CITIC Securities suspended trading all day from June 65438+1October1September to June 26, throwing out performance forecasts. From June 65438+1October 12 to June 65438+1October 13, CITIC Securities will throw out performance reports and rights issue announcements one after another. CITIC Securities has recently become the focus of the industry.

20021165438+1On October 26th, CITIC Securities proposed to raise no more than 28 billion yuan, which was approved by the CSRC. However, according to the relevant regulations of China Securities Regulatory Commission on public offering of shares, the company must meet the issuance conditions such as continuous profit in the last three fiscal years. At this point, just entering 2022, CITIC Securities began to release performance-related data one after another.

65438+1October12nd, CITIC Securities once again released the first annual performance report of listed securities firms, saying that in 20021year, the operating income was 76.57 billion yuan, up 40.80% year-on-year, and the net profit attributable to shareholders of the parent company was 22.979 billion yuan, up 54.2% year-on-year. At this point, CITIC Securities' net profit last year also hit a record high.

CITIC Securities said that the domestic economy continued to improve despite the impact of the epidemic and the capital market flourished. In 20021year, the company's investment banking, asset management and other businesses developed in a balanced and steady manner.

While CITIC Securities' net profit of 22.979 billion yuan "greatly exceeded expectations" in the industry, on the evening of 65438+1October13rd, CITIC Securities also issued an A-share issuance announcement, and determined that the price of this A-share allotment was RMB 14.43 yuan/share, and the price of H-share allotment was1share. At the same time, the registration of the A-share allotment of CITIC Securities is 65438+ 10/0, 65438+ 10/0/9 to 65438+ 10/26, and it will be suspended all day.

Judging from the amount of funds raised, the total amount of funds raised by CITIC Securities' rights issue does not exceed 28 billion yuan, of which the total amount of funds raised by A-share rights issue does not exceed 23.065 billion yuan, and the total amount of funds raised by H-share rights issue does not exceed 4.935 billion yuan. From the perspective of the use of the raised funds, the net amount of the raised funds after deducting the issuance expenses is intended to be used for developing capital intermediary business (no more than 654.38+09 billion yuan), increasing investment in subsidiaries (no more than 5 billion yuan), strengthening information system construction (no more than 3 billion yuan) and supplementing other working capital (no more than 654.38 billion yuan).

CITIC Securities said, "After the completion of this issuance, the company's main business will remain unchanged, and the company's capital strength will be further enhanced, which will help the company to enhance its comprehensive strength at home and abroad, comprehensively improve and upgrade its business layout, and actively participate in international competition." At the beginning, "responding to the national strategy and building an' aircraft carrier' brokerage" was the first reason for the necessity of CITIC Securities' rights issue.

It is worth mentioning that CITIC Limited, the largest shareholder of CITIC Securities, has promised to fully subscribe for the distributable shares determined according to the company's allotment plan in cash according to the number of shares held by the company in date of record after the deadline for this allotment.

At least 10 brokers gave "deep support" after Brother Yi's performance, believing that CITIC Securities' performance greatly exceeded expectations.

Liu Xinqi, chief non-banking analyst of Guotai Junan, also said, "With the landing of the rights issue, the capital of CITIC Securities will be greatly supplemented, and the liquidity constraints of NSFR/LCR will be met, laying a solid foundation for the all-round development of the follow-up institutional business. Under the background that peers are constrained by capital, the market share of the company's institutional business is expected to further increase. At the same time, maintain the' overweight' rating of CITIC Securities. "

Hu Xiang, chief analyst of soochow securities Non-Bank Finance, also predicted that after the rights issue is completed, the capital of CITIC Securities will be further consolidated, and CITIC Securities, as a leading brokerage firm, has outstanding professional ability and institutional business is expected to become a new growth point.

Qiu, director of Zheshang Securities Research Institute, said, "CITIC Securities' rights issue will effectively replenish capital ammunition and expand capital intermediary business. At the same time, CITIC Securities has a stable leading position, and the rapid growth of multi-business lines has pushed its performance beyond expectations, and it will continue to benefit from the capital market reform dividend in the future. "

Luo Zuhui, chief non-bank analyst of Western Securities, said, "Considering that CITIC's current allotment ratio is relatively low (10/.5, other brokers are all 10 with 3), the ROE dilution is relatively small, and the company's funds are mainly concentrated in capital intermediary business such as equity derivatives, so it is judged that the listing of allotment has limited disturbance to CITIC Securities."

CITIC Securities suspended trading all day on June 5438+1October 65438+September 26. 2 Different industries, different companies, different shareholders have different fates.

Maotai's shareholders are all good, waiting for dividends every year, but in some capital-intensive industries, investors have to invest more money after buying shares. Of course, investors are allowed to buy shares at low prices, but it is of little significance to buy shares at low prices and then sell them. If they don't participate in the rights issue, they will lose money.

On the evening of June 65438+1October 13, CITIC Securities, the "first brokerage" with 320 billion yuan, will also issue shares. At the end of the third quarter of 2002100, the number of shareholders in this stock was 657 100, and everyone in the stock bar was a little fried, fearing that the stock price would be "hammered". Judging from the previous situation, as long as the official rights issue announcement comes out, the basic stock price will fall, which is all negative.

The first brother of the brokerage company is about to issue a rights issue of 28 billion yuan. If it is not worth it, it will lose about 6%.

In 2022, the rights issue of brokers came earlier than in previous years. 5438+ 10, CITIC Securities, the "first brother of securities firms", threw out a 28 billion rights issue plan, which will be implemented soon. The latest market value of CITIC Securities is about 320 billion yuan.

On the evening of 65438+ 10/3, and on the evening of 65438+ 10/3, CITIC Securities issued an announcement to distribute/kloc-every 10 share based on the total share capital of A shares after the closing of the base date in 2022.

According to the arrangement, the total amount of funds raised by this rights issue does not exceed 28 billion yuan, of which the total amount of funds raised by A shares does not exceed 23.065 billion yuan, and the total amount of funds raised by H shares does not exceed 4.935 billion yuan. The price of this allotment is 14.43 yuan/share. 65438+1October 19-26 is the payment period of rights issue and the online settlement date, during which CITIC Securities will be suspended all day.

It is worth noting that CITIC Securities has a huge lineup of sponsors and lead underwriters, with seven peers including TF Securities (4.030, 0.00, 0.00%), China Post Securities and Galaxy Securities.

The price of this allotment is 14.43 yuan, which is far lower than the latest closing price of CITIC Securities 1.03 of 26.36 yuan, with a discount of 55%. However, all shareholders can participate in it, and they must cancel their rights. The actual meaning is different. There is no point in buying shares in your own company, you have to pay for it yourself.

But if you don't participate in the rights issue, the lower the share price, the more losses. If the latest price is 26.36 yuan, 65,438+0.5 shares will be distributed for every 65,438+00 shares, the distribution price is 65,438+04.43 yuan, and the ex-dividend price is 24.8 yuan.

In other words, if you don't participate in the rights issue, it is equivalent to a direct loss of 26.36 yuan to 24.8 yuan, with a loss of 5.92%.

65438+ 10/3 closed, and CITIC Securities closed at 26.36 yuan, with a total market value of 3 193 billion yuan. On the same day, CITIC Securities opened higher by 1.87% under favorable performance, but then fell back and finally closed up by 0.73%.

Therefore, some investors who currently hold shares will prepare funds to participate in the rights issue, some may sell before the suspension of the rights issue on June 5438+1October 65438+September, and some have no money and no rights issue, and they will suffer in vain after the ex-rights. There are still three trading days before the suspension of the rights issue: 14, 17 and 18.

The stock price is going to fall, so run at the opening.

The rights issue has always been understood by the market as a bad thing. Therefore, the rights issue of CITIC Securities also caused a lot of bearish voices in the stock bar. Investors generally believe that the stock price may go down after the opening.

Some investors say they want to open the market and run away, while others think they want to fall.

Before the rights issue was released on the evening of 65438+ 10/3, CITIC Securities also had a "foreplay" on the evening of 65438+ 10/2, and released a performance report, which greatly increased its performance, but its share price was 65438+/kloc.

On the evening of 65438+ 10/2, CITIC Securities released its 20021annual performance report, with operating income of 76.57 billion yuan, up 40.8% year-on-year, net profit attributable to the mother of 22.98 billion yuan, up 54.2% year-on-year, and weighted average return on equity1. Operating income in the first three quarters increased by 37.7% year-on-year.

Previously, brokers often fell sharply after the announcement of the rights issue.

News of the rights issue often leads to a sharp drop in the share price.

The latest rights issue of a securities firm was soochow securities (8.790, -0. 10,-12%), and the rights issue was announced on February 202 1, 10, and then the share price fell by 4.38% on the day after the announcement.

Further, Hongta Securities (1 1.5 10, -0.09,-0.78%) announced on July 22, 2026 that it would conduct a rights issue, and it fell by 5.78% on July 26, the last trading day before the rights issue was suspended.

CITIC Securities was suspended from 3 1 19 to 26. On the evening of 0 1 13, Capital State learned that CITIC Securities (600030. SH), has been interpreted by the industry as a big increase in performance, and finally paved the way for the rights issue.

According to the relevant announcement, CITIC Securities intends to distribute 65,438+0.5 shares for every 65,438+0.5 shares registered in Shanghai Branch of China Securities Depository and Clearing Co., Ltd. after the closing of Shanghai Stock Exchange on the base date (65,438+0.8, 2022).

According to relevant regulations, the payment period for this A-share allotment is from 65438+1October 19 in 2022 to 251October in 2022, during which the A-shares of CITIC Securities will be suspended all day; June 5438+1October 26, 2022 is the online liquidation period for registered companies, and A shares will continue to be suspended for one day; A shares of CITIC Securities will resume trading at 65438 on October 27th, 2022/KLOC-0.

It is reported that the total amount of funds raised by CITIC Securities in this rights issue does not exceed 28 billion yuan, of which the total amount of funds raised by A shares does not exceed 23.065 billion yuan, and the total amount of funds raised by H shares does not exceed 4.935 billion yuan.

The price of this allotment is 14.43 yuan/share, the allotment code is "700030", and the allotment is referred to as "CITIC allotment".

In terms of the use direction of raised funds, according to CITIC Securities, the net amount of raised funds after deducting the issuance expenses from the total amount of raised funds is intended to be used for developing capital intermediary business, increasing investment in subsidiaries, strengthening the construction of information systems and supplementing other liquidity.

CITIC Securities said that after the completion of this issuance, the company's main business will remain unchanged, and the company's capital strength will be further enhanced, which will help the company to enhance its comprehensive strength at home and abroad, improve and upgrade its business layout in an all-round way, and actively participate in international competition.

It is worth noting that before 1.5, CITIC Securities clearly mentioned in the announcement of pre-increase in performance that the company's public offering of allotment securities was approved by China Securities Regulatory Commission on 20211.26. According to the relevant regulations of China Securities Regulatory Commission on public offering of shares, CITIC Securities must meet the issuance conditions such as continuous profit in the last three fiscal years, so it issued a pre-increased performance announcement.

However, in the announcement of pre-increase in performance, CITIC Securities only mentioned that the company was operating normally in the fourth quarter, but did not give an accurate value. Moreover, the annual performance level only promises that the net profit attributable to the mother and the non-net profit deducted are not lower than the level of 202 1 the first three quarters, and are not lower than 18.4 1% and 17.66% respectively compared with the whole year of 2020.

At that time, many non-bank analysts said that the above announcement was only to meet the process requirements. Even without this announcement, it is expected that CITIC Securities will issue shares as soon as possible.

Then, on the evening of June 65438+ 10/2, the annual performance report of CITIC Securities was released immediately.

According to the annual performance report, CITIC Securities 202 1 achieved an operating income of 76.57 billion yuan, up 40.8% year-on-year, and a net profit of 22.979 billion yuan, up 54.2% year-on-year.

It is worth noting that the two year-on-year growth indicators not only hit the highest level in the past five years, but also about three times the predicted value a week ago. More importantly, this performance also means that CITIC Securities has met the conditions of continuous profitable rights issue in the last three fiscal years.

Choice data shows that since 2020, the enthusiasm for rights issue of brokerage stocks has been continuously ignited. Before and after this, there were nine refinancing schemes of securities companies, including Guohai Securities, TF Securities, soochow securities, Shaanxi Securities, China Merchants Securities, Guoyuan Securities, Huaan Securities and Hongta Securities, among which soochow securities issued shares twice every two years.

From the actual situation, compared with other equity refinancing methods, the above nine institutions have all obtained a higher subscription ratio in the final rights issue, and the final amount of funds raised is more ideal than other industries. However, after the implementation of CITIC Securities' rights issue plan, only three brokers are still queuing to apply for rights issue, namely Industrial Securities, orient securities and Caitong Securities.