Jinwu Financial News | China Galaxy is leading the brokerage stock. As of press release, China Galaxy (06881) is up 4.71%, CICC (03908) is up 2.89%, Orient Securities (03958) is up 1.86%, and Zhongzhou Securities (01375) is up 1.59%.
According to the news, the stock prices of China Galaxy and CICC rose inversely yesterday (13th), once again triggering speculation about mergers, acquisitions and restructuring. After the market closed, the two brokerage firms told the media that they were unaware of the news; everything was subject to the announcement. The media quoted people close to CICC as speculating that the merger, acquisition and restructuring plan of the two companies is about to be implemented, that CICC Wealth will be incorporated into Galaxy of China, and that CICC will remain independent.
Shanxi Securities pointed out that brokerage firms can achieve epitaxial growth and enhance overall competitiveness through mergers, acquisitions and restructuring. Western Securities's plan to acquire Guorong Securities was officially released, and industry mergers, acquisitions and restructuring continued to advance. It is recommended to focus on the progress of industry mergers, acquisitions and restructuring and the possibility of exceeding expectations. Furthermore, the opening of new accounts exceeded expectations, and the brokers' basic market fully benefited. According to data from the Shanghai Stock Exchange and the Securities Times, the number of new accounts opened by individual A-share investors reached 6.8397 million in October 2024, a record high since June 2015, and also surpassed the total number of new accounts opened in the previous 5 months. As market activity increases and new investors consolidate the basic market, brokerage, asset management and proprietary businesses are expected to pick up at the same time, thereby boosting operating performance in the fourth quarter and effectively supporting securities sector valuations.
