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The 10 trillion debt-to-equity swap is here! A-shares are expected to strengthen, these sectors may benefit.
On November 8th, the 12th meeting of the 14th National People's Congress Standing Committee (hereinafter referred to as the "meeting") concluded. The meeting reviewed and approved the most significant debt-to-equity swap measures in recent years, attracting high market attention.
Fitch: Profit of Chinese brokerage firms expected to remain under pressure in the second half of the year.
Fitch Ratings expects that due to the domestic economic slowdown, ongoing geopolitical tensions, and tightening regulatory measures, the market sentiment is weak. Chinese securities companies will continue to face profit pressure in the second half of this year. Nevertheless, financial reforms aimed at building a high-quality capital market will be bullish for the long-term business development of brokerages. The Chinese securities industry achieved a net profit of 80 billion yuan in the first half of this year, a decrease of 18% year-on-year, with an average return on investment of 5.4%. With the increase in fixed income portfolio returns due to domestic interest rate cuts, proprietary trading revenue increased by 10% year-on-year, accounting for a share in total revenue.
How do you view the upcoming introduction of the most significant debt-to-equity swap measures in recent years?
Looking back at the data of previous years, the scale of replacement last year exceeded 2.2 trillion yuan. This indicates that the scale of the new measures will definitely be above 2.2 trillion yuan. It is worth noting that the previously relatively stable Ministry of Finance has taken a strong stance this time, with expressions such as "the largest effort in recent years" and "a one-time large scale", which are full of imagination space. It can be expected that a significant fiscal incremental policy is about to come.
SWSI: INTERIM REPORT 2024
SWSI (00812) main business has not undergone any major changes and is in normal daily operation.
SWSI (00812) issued an announcement, the group's main business includes brokerage and margin financing, corporate financing, capital...
The performance of SWCI International Securities (00812.HK) expanded to a mid-term loss of 16.05 million yuan.
SWSI (00812.HK) announced its interim performance for the six months ending in June, recording a profit of 8.32 million yuan, a year-on-year decrease of 74.6%. Losses expanded from 5.56 million yuan in the same period last year to 16.05 million yuan, with a loss per share of 0.438 cents. No interim dividend will be distributed.
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