Sunday, October 31, 2010

Analysis of CITIC Securities 600030

 CITIC Securities 600,030 of the total share capital of 3.32 billion shares
, 2.79 billion shares outstanding shares.
First, the main Aspect (China Securities industry leader)
1, industry growth is good. Optimistic about the next 20 years China's booming economy and capital market development opportunities. (strong cyclical industry)
2, the company's growth was good. the strength of the state-owned assets supervision and country background, supporting the superior limit of bad policy background. optimistic about the background of CITIC Securities, the Government , scale advantage and leading position.
3, promising the creation of warrants, stock index futures, the GEM out, direct the explosive force of innovative services. with the performance of explosive growth.
4, the concept of continuous mergers and acquisitions. If internationalization to be involved in the business of domestic companies listed abroad.
5, to benefit from reduced income tax rate in 2008 25%.
6, 2216 has been achieved on the senior equity incentive .2011 million shares mm3000 on September 6 to obtain distribution rights.
7, long-term good, 90 the following bold intervention.
8,2008 transfer of the first quarter Huaxia Fund shares.
9, Performance notice: in 2007 an increase of 4 times the performance, increasing to 11.8 billion yuan more than 5 times. So will reach 3.57 yuan per share.
CITIC Securities (7.74) up to Shenzhen and another 90.4% of CITIC Holdings Wantong Main Shandong, Jiangsu and Zhejiang Chinatrust through the main, holding 60% of the CSC (3.48%), in Beijing, Shanghai, Shenzhen, Tianjin, Ningbo, Nanjing, Dalian, Wuhan, Hangzhou, Xi'an , Xuzhou, Rugao, Suzhou, Chengdu, Guangzhou, Changzhou, Foshan, Zhongshan, Dongguan, Shaoxing, Changsha, etc., with 166 sales offices and 61 service department, the industry's first.
focus on world-class business in China Investment Banking net profit of 8.3 billion
1m9 month earnings per share of 2.77 yuan.
a), the brokerage business: network edge, in 2007 more than 7.884 percent market share. first in the country.
1m9 brokerage months Business net profit of 3.72 billion. dependent on the weather situation is still not markedly improved.
outstanding shares in the restricted flow of new issues and stock market growth, and so, driven by rapid growth in market capitalization can be expected, and also the introduction of innovative services will be conducive to continued growth in the share of the brokerage business will continue to maintain the rapid growth of more than 20%;
2007 annual turnover of 8.39 trillion yuan, up by 415%, 387% higher than the industry increase; market share of 7.67% than 727% of 2006 improved significantly, ranking No. 1 in the industry.
II), underwriting income (investment bank project): 24.2% ranked second domestic stock underwriting, issuance of the first row of the project 21.24,UGGs, 27% of corporate debt row . 1m9 net profit of 580 million yuan on underwriting income.
and the return of H shares and red chips, corporate bonds and the introduction of the GEM will continue to make the underwriting volume growth.
2007 public offering of 18.3 years to complete, issue the amount of 132.9 billion yuan, an increase of 294%, market share increased to 24.2%, ranking No. 2, slightly behind in payments;
c), warrants the creation of: January-September net income of 1.05 billion warrants the creation of .
the end of the third quarter, net capital 47.2 billion in first place. (additional price of 74.91 yuan in August.) warrants the creation of a conducive, purchase of new shares and other capital-intensive business.
the end of 2007, China Southern Airlines Put warrants the creation of balance of 2.97 million copies, will be gradually released in 2008. (580,989 expire June 27 next year.)
d), purchase of new shares: 1m9 net profit of 3.44 billion yuan on investment income.
close the end of 2007, , October 15, 2007 Call 000 012 8000 CSG shares of non-public offering, the subscription price of 8 yuan. limit sales of 36 months.
1, 1898 purchase shares of China Shenhua. the issue price of 36.99 yuan.
2, the China Petroleum and purchase shares. the issue price of 16.7 yuan.
4, 4880 in Rail shares, of which 3,300 shares online, offline 1,500 shares. the issue price of 4.8 yuan.
e), stock Futures:
1, invested 100 million yuan to 100% holding in the Futures. in the future, Futures market, according to the layout of CITIC Securities to supporting business network layout. Currently CITIC Securities in Beijing, Shanghai, South China and other places are a more large customer base. Taurus futures in Shenzhen, Shanghai, Dalian, Zhengzhou has a business, the next increase will be a branch in Beijing, CITIC Securities in Beijing to serve the customer base. to obtain a comprehensive settlement of membership. may engage in business futures and financial futures.
2, held 1.5 billion investment in CSC Futures 60%. CSC 116 business outlets throughout 22 provinces, 70 cities, all outlets are available stock index futures, gold futures consulting business.
f), direct service (the buyer business):
1, Downstream: 823 million yuan investment in the stone investment companies, investment companies to be listed domestic shares. that is listed for years in the 2,3 equity, focusing on growing the project;
2,bailey UGG boots, upstream: investment 58.13 million yuan, 70.56% held by Shenzhen CITIC stake in venture capital. more inclined to the early days of business investment, focusing on seed stage of the project, for the Gold Stone Provide project reserve. in addition to the two companies, will help open up the risk of CITIC Securities,UGG boots, a chain of upstream and downstream investment.
information, CITIC joint venture business areas: direct investment, technological innovation and high-tech industries and other industries ; entrusted with the management and operation of other venture capital firms in venture capital; for the high-tech enterprises to provide investment advice; direct investment or participate in the construction of business incubators. As the first half of the company, the total assets of 1.45 billion net profit last year, 72,788,700 element.
VII), Financial Services:
1, the registered capital of 138 million held by the China Fund 100%; 260 billion yuan of assets. CITIC Fund may be absorbed after the merger of its wholly owned subsidiary. < br> 2, obtaining Qualified Domestic Institutional Investor (QDII) status.
2007 end-date information display Huaxia Fund, a fund managed by the company in 2007 to 10 million investors and create up to 89 billion yuan in revenue. As of last year, China raised funds fund's assets reached 248 billion yuan, accounting for the size of the domestic market, raised funds 7.57%,Bailey UGG boots, the highest in the first 59 fund companies.
2008 年 3 Huaxia Fund before the end of the transfer of about 20% equity.
VIII), International Business: holding 100% of CITIC International (Hong Kong). registered capital of 500 million U.S. dollars.
cent), international cooperation: cross-shareholdings with Bear Stearns and was 2% 6% . the establishment of a joint venture company to carry out operations in Asia.
owned by CITIC Securities brokerage in addition to this Part, asset management, investment banking, its main profit sources include CITIC Wantong Securities, CITIC Securities Tong, CSC, China Fund .2007 10 months in January, domestic stocks, funds, warrants of the total turnover of 96.4 trillion, CITIC Securities and its corporate sales department has a total of 168. CITIC line four companies combined market share of 7.69%. Under the equity share calculated in the Chinese brokerage Citic system market share of 6.29%.

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