Affected by the black rainstorm warning, the H-share listing of Galaxy Securities, a domestic securities giant, was postponed until yesterday afternoon, and the opening soared, but then the high fell back, and finally closed at 5.62 yuan, up 6% from the issue price. This also means that the initial financing of 6.5 billion yuan has been successfully received. And A-share brokerage stocks also experienced a high-level pullback, with 9 companies' stock prices falling. Industry analysts have stated that the bearish sentiment in the A-share securities industry has been largely digested, and the probability of a volatile upward trend is relatively high under the current circumstances.

As another securities giant approved for special listing, Galaxy Securities has finally successfully landed on the Hong Kong Stock Exchange. However, due to special weather conditions, the brokerage only traded for half a day on its first day of trading, and ultimately closed at HKD 5.62, up 6%.

Galaxy Securities had some bad luck today, some good luck. Hehe! "Said Mr. Liu, a stock investor, to our reporter. He believes that it is unlucky to encounter a black rainstorm warning on the first day of listing. Fortunately, the company's stock price opened high and then fell. If it continues for another half day, the increase may not be as significant. The Hong Kong Observatory issued a special report on the "Black rainstorm Warning Signal" at 7:55 am on the 22nd. The Hong Kong Stock Exchange also made an emergency announcement that due to the black rainstorm warning, the trading hours of the Hong Kong securities and derivatives markets will be delayed.

On Wednesday afternoon, the Hong Kong Stock Exchange resumed trading and Galaxy Securities' H shares were officially listed. This also means that the company only had half a day of trading time on its first day of listing. However, judging from yesterday afternoon's performance, although it surged and fell back, Galaxy Securities performed well during the trading session. Data shows that Galaxy Securities opened at HKD 5.780, an increase of 9.06% from the issue price of HKD 5.30. However, after a rapid surge, it gradually fell back and ultimately closed at HKD 5.62, up 6.04%. According to public information, Galaxy Securities was priced at HKD 5.3 and raised a total of HKD 8.3 billion. If calculated at the latest exchange rate, the total amount raised exceeded HKD 6.5 billion, making it one of the largest new stocks in the Hong Kong stock market this year.

Choose the right time to issue A-shares

Since the beginning of this year, the listing of Galaxy Securities has become a hot topic in the industry. However, Galaxy Securities, which had hoped to list both A+H shares simultaneously, had to abandon its A+H listing plan due to the stagnation of A-share IPOs. Galaxy Securities Chairman Chen You'an once stated at a press conference in Hong Kong that after the H-share fundraising is completed, A-shares will be issued at an appropriate time based on funding needs and changes in IPO policies.

According to the reporter's understanding, most A-share investors believe that due to the much better performance of Hong Kong stocks in recent years compared to A-shares, there should not be much room for a significant decline in the H-share listing of Galaxy Securities, which will provide some support for the stock prices of A-share listed securities firms. However, the short-term bearish sentiment of domestic securities firms has been basically digested, so the stock price is expected to maintain a volatile upward trend.

Yesterday, the A-share brokerage sector also showed a trend of rising and falling. Among the 19 listed companies, 9 companies' stock prices fell, but the decline did not exceed 1%. Guojin Securities ranked first on the decline list with a decline of 0.91%, while Northeast Securities, Southwest Securities, China Merchants Securities and others performed well, ranking in the top three on the increase list.

Securities stocks maintain volatile upward trend

Founder Securities analyst Zhao Shasha believes that from a valuation perspective, the securities industry currently has a low price to book ratio and low valuation.

Huarong Securities' Fan Guilong pointed out that innovative business is still a new profit growth point for securities firms. From the current development of innovative businesses, margin trading and securities lending can already provide stable profits for securities firms. Next, the focus of development will be on small and medium-sized enterprise private equity bonds, asset securitization, and equity pledge businesses in innovative businesses. In the medium to long term, securities firms will experience good development.

According to Wang Mingde, an analyst at Dongxing Securities, based on recent industry operations, policies, and business innovations, there is currently a lack of clear positive drivers, making it difficult for the securities industry to stand out in the A-share market. However, there is not much room for the industry to decline. Therefore, the entire securities industry is expected to maintain a slow upward trend amidst fluctuations. I am optimistic about Everbright Securities, Haitong Securities, and Hongyuan Securities, which have significantly improved performance and made significant contributions to innovation.