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Guosen (002736.SZ): The issuance of shares to purchase Assets and the related Trade matters have obtained approval from the Shenzhen State-owned Assets Supervision and Administration Commission.
On December 20, Glonghui reported that Guosen (002736.SZ) announced that the company plans to purchase 96.08% of Wanhe Securities Co., Ltd. shares held by Shenzhen Capital Operation Group Co., Ltd., Shenzhen Kunpeng Private Equity Co., Ltd., Shenzhen Yeyou Group Co., Ltd., Shenzhen Innovation Investment Group Co., Ltd., Shenzhen Yuanzhi Fuhai No. 10 Investment Enterprise (Limited Partnership), Chengdu Jiaozi Financial Holdings Group Co., Ltd., and Haikou Financial Holdings Group Co., Ltd. through the issuance of A-shares (hereinafter referred to as "this Trade"). On December 20, 2024, the company received the Shenzhen Municipal People's Government.
Guosen: Maintains TOPSPORTS 'Outperform Market' rating, with a reasonable valuation of 3.8-4 Hong Kong dollars.
Guosen Securities released a research report stating that it maintains the profit forecast for TOPSPORTS (06110), expecting the Net income for the fiscal years 2025 to 2027 to be 1.44/1.79/1.92 billion yuan, year-on-year changes of -35.1%/+24.5%/+7.6%. The reasonable valuation Range is set at 3.8-4 HKD, maintaining an "outperform the market" rating. In the third quarter of the 2025 fiscal year, the total sales amount of the group's retail and wholesale Business recorded a single-digit decline year-on-year. As of November 30, 2024, the gross sales area of directly operated stores decreased by 2.1% compared to the end of the previous quarter, and decreased by 4.4% compared to the same period last year.
Guosen: Assigns LEAPMOTOR an "Outperform the Market" rating with a Target Price of 35.92-40.41 HKD.
Guosen published a research report stating that LEAPMOTOR (09863) is in a high-speed growth phase for the next three years, with projected revenue from 2024 to 2026 being 31.4/56.1/81.4 billion yuan respectively. Using the PS valuation method, the company's reasonable Market Cap for 2025 is estimated to be between 44.9-50.5 billion yuan, corresponding to a share price of 35.92-40.41 HKD. This is the first coverage in the past year, given an "outperform market" rating. Guosen's main points are as follows: LEAPMOTOR is experiencing rapid growth in its domestic Business and is collaborating with international giants to enter overseas markets. LEAPMOTOR is a leading intelligent electric vehicle company in the country and has maintained its revenue in recent years.
Market Chatter: Chinese Brokerages Shuttering Branches to Remain Competitive
Guosen Securities (002736.SZ): The public offering of CSI Enterprise bond Index to professional investors has been approved by the China Securities Regulatory Commission.
On December 11, Glonghui announced that Guosen Securities (002736.SZ) received approval from the China Securities Regulatory Commission to publicly issue company bonds with a face value of no more than 20 billion yuan to professional investors. The issuance of these company bonds must strictly follow the fundraising prospectus submitted to the Shenzhen Exchange, and the approval is valid for 24 months from the date of registration approval. The company can issue the bonds in installments during the validity period of the registration.
Investing in Guosen Securities (SZSE:002736) a Year Ago Would Have Delivered You a 33% Gain
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