1. Affected by the ban, GF Securities fell from the 9th head brokerage in the industry to the 33rd in the industry. The investment banking income of Heima Guo Jin Securities increased by nearly 90%, and the concentration of investment banking business further increased. The top ten securities companies in investment banking revenue totaled 3,365,438+38 million yuan, with a total market share of 49.42%, up by 4. 1 1 percentage point. In 20 19, the total market share of the top ten securities companies in the industry was 45.3 1%. Judging from the growth rate of investment banking business income, the investment banking business income of the top ten securities companies has increased substantially, with an average annual growth rate of 56.8 1%. Guo Jin Securities had the highest increase of 88.93%, followed by Huatai Securities, with a year-on-year increase of 80.23%.
2. At the 13th Lujiazui Forum held on the morning of June 10 this year, Yi Huiman, Chairman of China Securities Regulatory Commission pointed out that IPO issuance was neither tightened nor relaxed. The feeling of IPO tightening in the market may have several factors. The implementation of the requirements of the new securities law has brought greater pressure on the responsibility of intermediaries; Strengthen the supervision of shareholders' information disclosure and clarify the relevant requirements such as penetration verification; Third, according to the principle that substance is more important than form, improve the evaluation system of scientific and technological innovation attributes and strengthen comprehensive judgment. According to the research report of Bank of China Securities, Lujiazui Forum released two signals related to the investment banking business of securities firms. It is one of the most prominent tasks at this stage to further increase the proportion of direct financing without tightening IPO issuance.
3. The importance of securities companies as a bridge between the capital market and the real economy will be further highlighted, and large securities companies will benefit more. Bank of China Securities further elaborated that it is optimistic about the development prospects of investment banking business of large securities companies. First, the registration system lightens the responsibility of intermediaries, puts forward higher requirements for the pricing, sales ability, project and talent reserve ability of securities companies, and improves the concentration of underwriting scale; Secondly, the follow-up investment system not only brings opportunities for income growth, but also puts pressure on the capital chain, while large brokerage firms have relatively abundant funds.
4. Investment banks can also become a source of high-net-worth customers for wealth management business, and large securities companies have sufficient investment bank project reserves. According to the research report of Dongguan Securities, in the second half of 20021,with the acceleration of the capital market reform process, the industry will gradually form a differentiated development pattern, and the advantages of segmentation will gradually emerge. Superimposed supervision is intended to promote the high-quality development of the industry. Investment banking business and wealth management business are expected to open up a broad performance space and promote the development of the industry.