The services provided by brokers for enterprises are mainly investment and financing. Investment includes opening securities accounts, purchasing wealth management, reducing holdings, increasing holdings of major shareholders, and mergers and acquisitions. Financing includes IPO, bond issuance, fixed increase, equity incentive, etc.

Specifically, listed companies can dock brokers and realize refinancing services such as IPO financing and private placement through brokerage investment banking business; Equity of unlisted enterprises &; Control right of small and medium-sized enterprises, private debt of small and medium-sized enterprises (to be listed), local government platform debt, asset securitization basic assets, and non-standard asset financing. ......

Brokers provide investment services for enterprises.

1, open a securities account.

When an enterprise opens a securities account with a brokerage firm, it can not only participate in the wealth management products provided by the brokerage firm, but also directly participate in the reverse repurchase of government bonds in the money fund and the secondary market. As an enterprise, it can comprehensively compare bank wealth management products in the same period and choose products that are more suitable for its own needs. Moreover, the most important strategic significance of owning a securities account is that scientific capital planning can also achieve the purpose of reasonable tax avoidance.

Step 2 buy wealth management

(1) fixed-income wealth management products

Fixed-income wealth management products of securities firms include income vouchers and bank consignment wealth management products.

Income vouchers are securities linked to specific targets. The funds raised by many brokers are used for financial integration business. During the bull market of 20 15, due to the vigorous development of financial integration business, securities firms were short of funds. At that time, the fixed annualized rate of return of a brokerage's income certificate was above 6%, while the average wealth management products in the same period were around 5%.

(2) Floating income wealth management products

There are many floating income financial products of brokers, such as Public Offering of Fund, private equity funds, collective asset management plans and so on. But of course, we should choose low-risk varieties suitable for enterprises to do financial management.

The redemption mechanism of money pool asset management plan is the same as that of money fund, but the annualized rate of return is often slightly higher than that of similar money fund products. The recent annualized rate of return of 1 day is 3.5-3.8%, and the quota is very abundant. If enterprises with high liquidity requirements can refer to this product, it is appropriate to redeem it in T+2 days.

(3) Products traded in the secondary market

The products commonly used in the secondary market to earn interest include money funds and reverse repurchase of government bonds.

The biggest difference between the money fund in the secondary market and the redeemable money fund in the bank is that it can be bought and sold directly. The way of selling money fund, T+ 1 on the fund, is suitable for financial management of enterprises with particularly high liquidity requirements.

Reverse repurchase of national debt means lending money through the national debt repurchase market, that is, you lend money to others and get fixed interest; Others use national debt as collateral to repay the principal and interest at maturity. Its rate of return reflects the price of market funds at that time and the tension of market funds.

Reduce your shareholding.

One is that after the lifting of the ban, major shareholders or non-tradable shareholders sell shares that could not be sold originally; One is the behavior of funds or investment institutions selling stocks for various reasons.

In order to prevent large trading orders from affecting the stock price and causing artificial market fluctuations, the Stock Exchange has set up a block trading mechanism. When the declared amount of a single transaction between the buyer and the seller exceeds a certain range, the exchange will stipulate that bilateral inquiry transactions will be conducted in special seats (that is, traders will find their own trading partners and will no longer participate in call auction), and the transaction price will no longer be included in the stock closing price. The reduction of shares by major shareholders must be sold through the securities trading system, which requires brokerage services.

4. Reorganization and merger

Reorganization and M&A refer to the acquisition, sale, division, merger and replacement of corporate equity, assets and liabilities based on business strategy, which are manifested in asset-liability reorganization, acquisition and merger, bankruptcy liquidation, transfer of equity or property rights, sale of assets or creditor's rights, corporate restructuring and shareholding system reform, management and employees holding shares or equity incentives, debt-to-equity swap, capital structure and governance structure adjustment, etc.

In mergers and acquisitions, the role played by brokers is generally called "independent financial adviser". Brokers, as promoters, matchmakers and intermediary service agencies of mergers and acquisitions, not only carry out backdoor listing, listed companies issue shares to buy assets and raise matching funds, but also carry out mergers and acquisitions of unlisted companies, cross-border mergers and acquisitions, private equity financing, cash acquisition of listed companies and other businesses, providing comprehensive financial advisory services to many fields and customers.

Brokers provide financing services for enterprises.

1. Initial public offering

IPO (initial public offering of shares) refers to the first time that an enterprise or company (joint stock limited company) sells its shares to the public (initial public offering refers to the way that a joint stock company publicly issues its shares to the public).

Usually, the shares of listed companies are sold through brokers or market makers according to the terms agreed in the prospectus or registration statement issued by the corresponding stock exchange.

Generally speaking, once the initial public listing is completed, the company can apply for listing on the stock exchange or quotation system.

At present, listed companies pay more attention to the attention that the sponsoring brokers can give, or whether they can attach special services such as resource integration while doing IPO business, and whether it can help their capital operation after listing.

2. Enterprises issue bonds

No matter what kind of bonds an enterprise chooses, the most important thing is to find a suitable broker (underwriter).

After finding a suitable underwriter, the enterprise will face the preparation of prospectus, and at the same time, rating agencies and brokers will enter the market to conduct due diligence and other preparatory work. Securities underwriters are the dominant players in the issuance process.

Underwriters can guarantee the status of issuers. When a primary underwriter underwrites securities, its reputation guarantees the securities it underwrites and gives investors trust.

3. Equity incentives

Equity incentive is a long-term incentive mechanism for enterprises to motivate and retain core talents. Conditionally give some shareholders' rights and interests to the incentive object, so that it can form the same interest body with the enterprise, thus realizing the long-term goal of the enterprise.

Brokers help enterprises to design the ownership structure, and then can reduce or increase the shareholding of major shareholders when necessary.

Now you know, the business cooperation between enterprises and securities firms is so close that it can not only provide investment services for major shareholders to reduce their holdings, increase their holdings and acquire, but also provide financing services for IPO, bond issuance, fixed increase and equity incentive.

For brokers, the two elements of financial services: customers, projects or products-have always been the focus of brokers' intention to overcome. The two sides have such a tacit understanding. If we get to know each other better, we may be partners next time.

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