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China Galaxy (06881.HK) has completed the issuance of 2.5 billion yuan in short-term financing bonds.
On December 16, Glonghui reported that China Galaxy (06881.HK) announced it has completed the issuance of the 17th short-term financing bond for the year 2024 on December 16, 2024. The issuance scale of this financing bond is 2.5 billion yuan, with a par value and issuance price of 100 yuan per unit. The term of this financing bond is 92 days, with a final coupon rate of 1.72%. The funds raised from this bond issuance will be used to supplement the company's working capital.
China International Capital Corporation: The nominal interest rate for the 2024 perpetual subordinated Bonds (Phase II) is 2.15%.
China International Capital Corporation (03908) announced that the company has obtained the approval from the China Securities Regulatory Commission for the public issuance of perpetual subordinated bonds to professional investors, with a maximum amount of 20 billion yuan (including 20 billion yuan) (Approval No. CSRC [2023] No. 193). These bonds are underwritten by CITIC SEC and China Galaxy Securities Co., Ltd., with the China International Capital Corporation set to issue perpetual subordinated bonds to professional investors in 2024 (Phase II) (hereinafter abbreviated as
CGS Issues 4 Billion Short-Term Commercial Paper
[Brokerage Focus] JPMorgan pointed out that the Politburo meeting has had a positive response to China financial stocks, believing that in the short term, the performance of brokerage stocks will outperform China Mainland Banking stocks.
JPMorgan's Research Reports indicate that the recent strong tone released by the Central Political Bureau to support the macro economy and stock market is expected to have a positive impact on China's financial stocks. It is believed that in the short term, Brokerage stocks will outperform China Mainland Banking stocks, with a more Bullish outlook on China Galaxy (06881). The bank continues to state that among China Mainland Banking stocks, CM BANK (03968) is preferred, as it is expected to benefit from the improvement in Retail Trade and investment sentiment. Meanwhile, Ping An Bank is also viewed positively, with estimates that its Retail Trade will turn profitable by 2025 due to a low base and increased policy support. Additionally, state-owned China Mainland Banking stocks may underperform growth-oriented banks because
Sinolink: With the dual benefit of policy bullish and warming funds, the Brokerage sector is expected to see an increase in both valuation and performance.
Sinolink released a Research Report stating that looking ahead to 2025, liquidity is expected to further ease, enhancing market stability and building a solid market bottom. The improvement in economic fundamentals is confirmed, and the stock market is likely to rise further, which is Bullish for the valuation and performance of the Brokerage Sector.
Hong Kong stocks fluctuate | China-affiliated brokerage stocks rise broadly in early trading. Key meetings further clarify the stability of the stock market, with bullish trends in both stocks and bonds benefiting the brokerage sector.
China-affiliated brokerage stocks rose broadly in the morning session. As of the time of writing, gf sec (01776) rose 4.31%, trading at 12.1 HKD; swhy (03678) rose 3.8%, trading at 3.28 HKD; htsc (06886) rose 2.92%, trading at 14.8 HKD; china merchants (06099) rose 1.67%, trading at 18.28 HKD.
