2020 “Yinhua Fund Cup” Sina bank financial planner competition, hot registration. From now on to September 7, you will receive free gift packages worth more than 700 yuan from Guan Qingyou, Luo Yuanshang, Chen Kaifeng and Jian Qi. (Shenzhen, reporter Zou Chenhui) capital flows in and out of the securities industry frequently. 2020 is a busy year. On the one hand, some shareholders of securities companies have reduced their holdings every time, while on the other hand, industrial capital has been constantly entering. After the sharp rise in early July, many shareholders of listed securities companies have put forward plans to reduce their holdings. The latest proposed reduction plan is industrial securities, which is the gold medal target of state-owned assets reform under the Department of finance of Fujian Province. The two shareholders of the company and their persons acting in concert also put forward the plan today. On August 21, Societe Generale Securities announced that Fujian investment and Development Group Co., Ltd. (hereinafter referred to as “Fujian Provincial Investment and development group”) and its persons acting in concert will reduce the company’s shares in the form of centralized bidding transaction from September 14 this year to March 13 next year, and the accumulated number of shares reduced will not exceed 130 million. < p > < p > after dormancy, with frequent rumors of merger of leading securities companies this year, banks are expected to obtain Securities Dealers’ licenses and gem registration system, it has become a hot spot for funds in the market at the beginning of July this year, with securities companies’ shares soaring one after another, and many securities companies’ share prices have doubled. < / P > < p > in this context, shareholders of securities companies have reduced their holdings. In addition to the 500 million shares held by the Securities Association and Fortune Securities Co., Ltd., there are also about 700 million securities companies in China, including securities companies in China. < p > < p > a private placement personage in South China told the associated press that many companies have their own investment plans. They hold low positions in securities companies just to wait for profits. After the stock prices of securities companies soar, it is very normal to cut positions and lock in profits. However, at the same time, there are also research reports from seller institutions that, with the further active market trading and the implementation of the registration system reform policies on the gem, the trend of securities companies’ stocks in the second half of the year is still worth looking forward to. < p > < p > on August 21, Societe Generale Securities announced the plan to reduce the shares held by shareholders holding more than 5% of the shares through centralized bidding. According to the independent decision of Fujian Provincial Investment and its acting partner, Fujian Provincial Financing Guarantee Co., Ltd. (hereinafter referred to as “financing guarantee company”) will make independent decisions from September 14, this year to next year During the period of March 13, the company’s shares were reduced by means of centralized bidding transaction, and the cumulative number of shares reduced was not more than 130 million shares, and the cumulative reduction proportion was not more than 1.95% of the total share capital of the company. In any 90 consecutive natural days, the total number of shares reduced did not exceed 1% of the total capital stock of the company. By the end of August 21, industrial securities closed at 632 with a total market value of 55.7 billion yuan. According to the first quarterly report of Societe Generale Securities, the company’s largest shareholder is Fujian Provincial Department of finance, which holds 1.357 billion shares of industrial securities, accounting for 20.27% of the company’s circulating shares. < p > < p > as of the above announcement disclosure date of Societe Generale Securities, Fujian investment holding 534 million shares of the company with unlimited sales conditions, with a shareholding ratio of 7.98%; Fujian Huaxing Group Co., Ltd. (hereinafter referred to as “Huaxing Group”) holds 6.49 million shares of the company with unlimited sales conditions, with a shareholding ratio of 0.1%; and the financing guarantee company holds the company’s non tradable shares 121 million shares, with a shareholding ratio of 1.81%. Because Huaxing Group, a wholly-owned subsidiary of Fujian Provincial Investment and investment company, is the parent company of the financing guarantee company, the three parties are acting in concert, holding 662 million shares of industrial securities, with a shareholding ratio of 9.89%. In the above announcement, Societe Generale Securities said in the above announcement that in the period of reduction, Fujian investment and financing guarantee company will choose whether to implement and how to implement the reduction plan according to market conditions, company share price and other factors, and the quantity and price of reduction are uncertain. This reduction plan is the normal behavior of Fujian investment and financing guarantee company, and will not have a significant impact on the company’s governance structure and future sustainable operation. The implementation of the plan will not lead to the change of the company’s control right. < p > < p > Fujian Provincial Investment Corporation’s previous reduction of Industrial Securities occurred from November 28, 2014 to April 21, 2015, with a reduction of 45.7311 million shares, and the price range of reduction was between 11.34 yuan and 17.63 yuan. The last time the financing guarantee company reduced its holdings of industrial securities from March 20, 2015 to May 6, 2015. The number of shares reduced was 6 million, and the reduction price was between 15.50 yuan and 18.94 yuan. < / P > < p > in addition to the reduction of shares held by shareholders of Societe Generale Securities Co., Ltd., reporters from the financial association found that there are also 7 securities companies, including Hua’an securities, Dongfang fortune, Jianghai securities and Hongta securities, with a total of nearly 500 million shares on the way to be reduced. < p > < p > on July 14, this year, Hua’an securities announced the plan to reduce the shares held by shareholders holding more than 5% of the company’s shares. According to the announcement, Anhui Publishing Group Co., Ltd. plans to reduce its holding of no more than 20 million shares from August 6, 2020 to February 2, 2021. Previously, on June 17, Hua’an securities announced that Dongfang International Venture Co., Ltd. planned to reduce its holding of no more than 72.42 million shares from July 10, 2020 to January 5, 2021. < p > < p > on July 10, Dongfang fortune announced that Shen Yougen planned to reduce his holdings by no more than 161 million shares from July 31 this year to January 30, 2021. < p > < p > on July 7, the parent company of Jianghai securities, Harbin Investment Co., Ltd., announced that China Huarong Asset Management Co., Ltd. planned to reduce its holding of no more than 41.61 million shares from July 28 this year to January 23, 2021. < p > < p > on July 6, Hongta securities issued a pre disclosure announcement on the reduction of shares. Yunnan Baiyao Group Co., Ltd., due to its own capital needs, intends to reduce its holding of no more than 47.11 million shares of the company from July 28, this year to January 23, 2021. < p > < p > on June 19, Huaxin announced that Shanghai Guosheng group assets Co., Ltd. planned to reduce its holding of no more than 17.61 million shares from July 15 to December 31 this year. < p > < p > on June 11, Zhongyuan securities announced that Bohai Industrial Investment Fund Management Co., Ltd. plans to reduce its holding of no more than 77.38 million shares from July 6 this year to January 2, 2021. On May 28, Western securities announced that Shanghai Chengtou Holding Co., Ltd. plans to reduce its holding of no more than 70 million shares from June 18 this year to December 31, 2020. < / P > < p > a private placement personage in South China told the associated press that many companies hold low positions in securities companies just to make profits. After the stock prices of securities companies go up, it is normal to cut positions and lock in profits. It does not mean that they are not optimistic about the future trend of securities companies’ stocks, but may come back when the stock prices of securities companies go down. < p > < p > on August 21, Shenzhen Expressway Co., Ltd. (hereinafter referred to as “Shenzhen Expressway”) announced that the company and three other capital increasing parties, including Shenzhen capital operation group Co., Ltd., Shenzhen Kunpeng Equity Investment Co., Ltd. and Shenzhen Futian Investment Holding Co., Ltd., signed a capital increase agreement with Wanhe securities. < p > < p > according to the capital increase agreement, the above four capital increase parties jointly contributed RMB 4 billion at the price of RMB 3.05 per share to subscribe for 1311475410 new shares of Wanhe securities. Among them, Shenzhen Expressway contributed RMB 950 million to subscribe 311475410 shares. After the completion of the capital increase, Shenzhen Expressway will hold 8.68% of its total equity after capital increase, and Shenzhen Expressway will become the third largest shareholder of Wanhe securities. < p > < p > prior to August 12, 10 institutions of Guoxin Securities with a fixed increase of 15 billion yuan were shortlisted, including Shenzhen Investment Holding Co., Ltd. (hereinafter referred to as “Shenzhen Investment Control”), which invested 5 billion yuan to subscribe for 473587570 shares of Guoxin Securities, which was the largest single institutional subscriber. On August 6, Haitong Securities also received more than 3 billion subscription from Shanghai Guosheng (Group) Co., Ltd., Shanghai Haiyan Investment Management Co., Ltd., Shanghai Electric (Group) Corporation and Guangming Food (Group) Co., Ltd., among others. < / P > < p > although many shareholders of securities companies have put forward the reduction plan, there are also some research reports of seller institutions that, with the further active market trading and the implementation of the registration system reform policies of gem, the trend of securities companies’ shares in the second half of the year is still worth looking forward to. Under the logic of policy dividend, market support and new growth cycle, Anxin securities continued to be optimistic about the stock market of securities companies. In the view of Anxin securities, the soon to be implemented gem registration system and its new trading rules, new rules for securities companies to rent third-party network platforms, new regulations on public fund management measures, and new regulations on asset management have extended the transition period. These Provisions may provide new business and channels for securities companies, or reduce the operating pressure of securities companies. In terms of business level securities firms and investment banks, Anxin Securities believes that, in the short term, the arrival of the gem registration system means the continuous release of high fee level small and medium-sized enterprise projects, especially the small and medium-sized boutique investment banks with greater performance flexibility and high investment bank contribution; in the long-term, it is a large number of project resources and investment banks to be explored The opportunity of business transformation is conducive to optimizing the pattern of vicious competition and realizing the survival of the fittest. In terms of brokerage business of securities companies, Anxin Securities believes that the new trading rules of gem are good for market transactions, and the standardization and introduction of third-party platforms are conducive to improving the drainage capacity of securities companies with financial control background or internet background. With the turnover of the two markets continuously breaking through trillion yuan in recent years, the market turnover rate and the balance of two financing still have room to improve after the opening of the 20% limit on the growth enterprise market and the possible market makers and single T + 0 trading. If the market trading is active, securities companies will welcome “Davis double-click”, forming a positive feedback relationship with the stock market. According to Kaiyuan securities, the deep reform of the capital market has driven the explosive growth of securities lending business. In the future, the regulatory authorities are expected to continue to optimize from the supply side, the demand side and the mechanism side. The expansion of securities lending business will drive the overall growth of institutional customer business of securities dealers, among which the head dealers will benefit more. From the development of securities lending business, this round of deep reform of capital market with marketization as the core will fully release the vitality of the securities industry. Under the historical opportunity period, the roe of the securities industry is expected to continue to rise.