Affected by the black rainstorm warning, the listing of H-share of Galaxy Securities, a domestic securities giant, was postponed to yesterday afternoon, and the opening soared, but then the high point 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. A-shares brokerage stocks also experienced a high-level decline, with 9 companies' stock prices falling. Industry analysts say that the bearish sentiment in the A-share securities industry has been largely digested, and there is a relatively high possibility of a fluctuating upward trend in the current situation.

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 company only traded for half a day on the first day of trading and ultimately closed at HKD 5.62, up 6%.

Galaxy Securities had bad luck today, but good luck. Hehe Mr. Liu, a stock investor, said to our reporter that he thought it was unlucky to encounter a black rainstorm warning on the first day of listing. Fortunately, the company's share price went up and down. If it lasted for another half day, the increase might not be that big. The Hong Kong Observatory issued a special report on "Black rainstorm Warning Signal" at 7:55 am on the 22nd. The Hong Kong Stock Exchange also issued an emergency announcement that the trading time of the Hong Kong securities and derivatives market will be postponed due to the black rainstorm warning.

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 has half a day of trading time on its first day of listing. However, based on yesterday afternoon's performance, although Galaxy Securities experienced mixed ups and downs, it performed well during the trading session. The 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 eventually 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. According to the latest exchange rate, the total amount of funds raised exceeds HKD 6.5 billion, making it one of the largest new stocks in the Hong Kong stock market this year.

Choose the appropriate 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, due to the stagnation of A-share IPOs, Galaxy Securities, which had hoped to simultaneously list A+H, had to abandon its A+H listing plan. Chen You'an, Chairman of Galaxy Securities, once stated at a press conference in Hong Kong that after the H-share fundraising is completed, A-shares will be issued in a timely manner based on fundraising 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, there should not be much room for 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 companies has been largely digested, so the stock price is expected to maintain a fluctuating upward trend.

Yesterday, the A-share brokerage sector also showed a trend of mixed ups and downs. Among the 19 listed companies, 9 companies experienced a decline in stock prices, but the decline did not exceed 1%. Guojin Securities ranked first on the decline list with a 0.91% decline, while Northeast Securities, Southwest Securities, China Merchants Securities, and others performed well, ranking in the top three on the rise list. Look, currently the securities industry has a low price to book ratio and low valuation.

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

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