Basic information:
The third quarter of 2009
Earnings per share (RMB): 0.6300 (not diluted by newly-increased share capital after issuance)
Net assets per share (RMB): 6.2800.
Provident fund per share (RMB): 3.25438+093
Number in circulation (ten thousand shares): 52,000.00
Total share capital (ten thousand shares): 34 1800.00.
Main income increased year-on-year (%):39.58.
After calculation, the performance in the third quarter was about 0.53 yuan (diluted according to the newly added share capital after issuance).
According to the average performance of the first three quarters, the performance at the end of the year was around 0.70.
If we consider that more than 654.38+000 billion raised funds will play a certain role in the fourth quarter, it is likely to increase.
0.02 yuan -0.05 yuan.
Second, past performance.
End of 2006: 900 million yuan, 0.37 yuan per share.
End of 2007: 4.7 billion yuan, 65,438+0.68 per share.
End of 2008: 65.438+300 million, 0.47 per share.
Half year of 2009: 65.438+0.2 billion, 0.42 per share.
Analysis:
Judging from the bull market in 2007, the performance of the stock market can reach 1.68 yuan at its best.
From the big bear market in 2008, the worst performance of the stock market can reach 0.47 yuan.
From the perspective of the securities industry, it is a fact that the competition is intensified, which is not good for this industry.
However, it has just been listed, and it has gained huge funds and enhanced its strength, which is a favorable place for the company.
Judging from the financial statements, the investment income in the past few years has accounted for a relatively large proportion in the company's performance. Especially in 2008, the stock market
At the worst time, the company's investment performance is excellent and very rare. According to the data, its investment strength,
The research strength is among the best in the industry. Because the author also takes investment as his profession, he is very concerned about such strength.
Will give high expectations to this.
Judging from the past performance, in the normal state of the securities market, I think the expected value in the next few years can be
Every year 1 yuan or so.
The reference materials are as follows:
(1) Comprehensive securities firm: the first batch of three innovative pilot securities companies in China selected by China Securities Association.
First, the main business strength is in the forefront of the industry.
In 2008, the company's brokerage business ranked ninth in the industry.
The number of lead underwriters of investment banks ranks 12th in the industry.
The financing amount ranks tenth.
Asset management business ranks among the top three in the industry.
(2) Securities brokerage business: As of August 2009, the company has 79 securities business departments and 15 service departments.
In the first half of 2009, the market share of brokerage business was 2.85%;
In 2009 and the next two years, the development goal of securities brokerage business is to improve the value-added service ability of the company's brokerage business.
Increase the market share to more than 5%, and strive to increase the number of securities business departments to more than 120.
(3) Investment banking: The net income of the company's securities underwriting business from June to September 2009 was 88.8602 million yuan, compared with the same period last year.
Decreased by 47.54%; By the end of 2008, as the lead underwriter, the company had issued shares and convertible bonds to enterprises for a total of 65,438+038 times.
Sales services, * * * raised 57.94438 billion yuan for the enterprise; In 2008, the company signed 34 financial advisory agreements with customers.
Discussion (including sponsor share-trading reform), the income of financial consultants in the first half of 2009 was18.83 million yuan, a year-on-year increase.
It is 2.45 times longer. By the end of June, 2009, the investment banking business had been reported to the Securities and Futures Commission IPO 10, which was issued three times.
In 2009 and the next two years, we will strive to increase the market share of sponsorship underwriting to more than 5%.
(4) Securities investment business: From June to September 2009, the net income of the company's securities trading business was 293 1 100 million yuan.
, an increase of 44.38% year-on-year, mainly due to the substantial increase in trading volume in the stock market as of September 2009.
On 30th, the company's trading financial assets amounted to 4.784 billion yuan, an increase of 3,665,438+04.83% compared with the end of last year, which was available for sale.
Financial assets reached 930 million yuan, an increase of 42.36% over the end of last year; Long-term equity investment of 50 million yuan; 1-Investment in September
The income was 277124,900 yuan, a year-on-year decrease of 77.74%; The gain from changes in fair value is RMB 53,842, 1 1,000 (I)
In the same period last year, it was-1384,028,800 yuan), and the asset impairment loss was 47,308,200 yuan (6,350,700 yuan in the same period last year).
Yuan).
(5) Asset management business: The company has collective asset management, directional asset management and special asset management.
, QDII and other business qualifications, as of the end of June 2009, the net custody value of Sunshine 1, 2, 3 and 5.
The total scale was 6.026 billion yuan, an increase of 654.38+0.75 billion yuan compared with the beginning of the year, and the business income was 50.3 million yuan, a year-on-year increase.
22% Dragon, a newly-issued non-restricted brokerage collective wealth management product-"Everbright Sunshine Foundation" on June 22, 2009.
Bao (Sunshine No.2 Phase II) Collective Financial Plan ",which raised more than 6.8 billion yuan to collect reasonable property in securities firms.
In the commodity market, the assets managed by the company's asset management headquarters account for 15% of the total, which is the largest share of all securities companies in China.
The company ranks second, and its product performance ranks in the top three among all securities companies;
The holding company Everbright Prudential Fund Management Company has gradually expanded the scale of assets under management, and the net asset value of funds under management.
The total scale is 36.047 billion yuan, ranking 28th among fund companies, up from the ranking at the beginning of the year1; Acquired in 2009 165438+ 10.
It is allowed to set up the first-phase collective asset management plan of Everbright Sunshine Collection, with a maximum scale of 654.38+0 billion copies.
(6) Futures brokerage business: The company acquired 65,438+000% equity of Du Nan Futures in April 2007 and 65,438+06 in 10 in 2007.
In fact, Du Nan Futures was renamed as "Everbright Futures" with the approval of China Securities Regulatory Commission in 2007, with a registered capital of10.50 billion yuan.
Big Futures' financial futures brokerage business qualification and comprehensive settlement membership, and obtained China financial futures trading.
Qualifications of fully liquidated members; As of June 30, 2009, the total assets of Everbright Futures were 654.38+359 million yuan, accounting for 20.5 billion yuan.
Industry income is 29.38 million yuan, operating profit is 510.4 million yuan, and net profit is 3.02 million yuan; In September 2009, Nixiang Everbright Futures has
The company is limited to increase its capital by 200 million yuan. After the capital increase, the registered capital is 350 million yuan, and the company holds 65,438+000%.
That's right.
(7) Direct investment business: In August 2008, the company obtained the pilot qualification of direct investment business with an investment of 200 million yuan.
Everbright Capital Investment Co., Ltd., a wholly-owned subsidiary engaged in direct investment business, was registered (planned in September 2009).
The capital increase to Everbright Capital was 6,543.808 billion yuan, the same as that of Shanghai Shenneng Group and Shanghai Pudong Technology Investment Co., Ltd..
Initiate the establishment of new energy industry funds and fund management companies), the development of direct investment business will be similar to the traditional investment banking business.
Complementarity is conducive to the company's adjustment of profit structure and development of diversified income models, and the company has a large reserve.
Investment projects, the first batch of equity investment will be launched soon, and it is expected to participate in 2-3 direct investment projects in 2009; Besides,
As the first batch of pilot test brokers in Shanghai and Shenzhen Stock Exchanges, the company has participated in margin financing and securities lending business twice.
Testing; As of June 30, 2009, Everbright Capital Investment Co., Ltd. had total assets of 205 million yuan and operating income of 205 million yuan.
50,000 yuan, operating profit-870,000 yuan and net profit of 3.82 million yuan.
(8) Research strength: The company research institute was established in 1997, covering the research scope of domestic securities companies.
One of the most extensive and powerful professional research institutions, the company has a research team of 52 people.
The average age is 33 years old, and the team is mainly divided into three echelons: macro strategy research, industry research and investment consultant.
(9) Major shareholder Everbright Group: Everbright Group is an important state-owned backbone enterprise managed by the central government, and its business covers China University.
The State Council officially gives an official reply to those places that have strong comprehensive influence in the domestic financial industry.
Everbright Group's reform and restructuring plan, Everbright Group obtained the first domestic financial holding company license. Make brighter
The Group will take this opportunity to scientifically and effectively integrate the banner from the strategic height of exploring the comprehensive operation of financial holding.
Under the financial resources, strengthen resource sharing, complementary advantages and business innovation among financial enterprises, and make common progress.
Gradually improve the comprehensive financial strength of the group, the company is an integral part of the financial resources of Everbright Group, under its financial control.
Shared development strategy has an important position.
(10) overall development goal: the company will take this initial public offering and listing as an opportunity to make every effort.
Give full play to the company's policy advantages and capital advantages as the first batch of innovative securities companies, and give full play to Everbright Group.
As the policy advantage and synergy advantage of financial holding group, consolidate and expand the market share of traditional business and economy.
Operating efficiency, strive for the first-Mover advantage of innovative business of securities companies, and explore the development of overseas securities business.
, cultivate new business and profit growth points, and strive to build the company into a company that can provide customers with high quality,
Securities financial services are comprehensive, and the main operating indicators are modern financial enterprises leading domestic securities companies.