The official website of the CSI Index describes the index as follows: The CSI All-Share Securities Company Index selects stocks from the securities company industry among the CSI All-Index sample stocks to reflect the overall performance of stocks in the industry.
We basically cannot make investments without securities companies. To trade stocks, you must have an account provided by a securities company.
Although investors do not need to open a stock trading account to invest in funds, fund companies still need to use accounts provided by brokers to buy and sell fund assets.
Commissions, that is, handling fees for investors or funds to buy and sell stocks, are part of the income of securities companies.
In addition, new stock issuance and underwriting, self-operation of securities firms, and margin trading are all the main businesses of securities companies.
We found that these businesses of securities companies are directly related to the stock market. Therefore, when the stock market is good, the performance of securities companies can easily grow rapidly, but when the stock market is bad, the profits of securities companies may be very low.
How long can the high prosperity last: In fact, the industry's high prosperity lasted until the third quarter, which was basically in line with industry expectations.
Han Jun, chief analyst of CITIC Construction Investment Co., Ltd., said during a micro-interview with eCompany that COSCO Shipping Holdings' third-quarter performance exceeding RMB 30 billion is a high probability event.
Han Jun believes that in the short term, the unilateral market pattern caused by the serious imbalance between supply and demand may continue for a long time, and freight rates on various routes may still rise in the future, driving the continued growth of container shipping companies' performance.
In the medium term, market capacity growth remains controllable, and new IMO regulations will accelerate capacity elimination.
In the long term, the end-to-end business layout and improvement of digital capabilities will reshape the valuation of container shipping companies, and the valuation of leading companies will gradually transform from the valuation system of shipping stocks to the valuation system of logistics stocks.