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中金:投資中國證券業正當時 建議關注低估值大券商
格隆匯 07-09 15:16

中金稱當前正處在投資中國證券行業的重要機遇期,板塊估值與當前高景氣度的市場環境仍相背離。市場活躍度及風險偏好持續提升、資本市場改革如火如荼、行業競爭格局持續優化的背景下,券商板塊業績及估值均有望乘勢而上。

*料投行業務將受益於一系列直接融資改革措施*

在39家上市券商公佈6月經營數據顯示,單月營收合計331億元人民幣,環比增長102%,同比增長41%;淨利潤合計127億元人民幣,環比增長126%,同比增長72%。

股指表現優異帶動投資收入增長;市場交易額及兩融餘額持續上行、帶動經紀及信用業務向好。股債融資額全面提升帶動投行業務收入大幅增長,預計投行業務將持續受益於科創板的推進、創業板註冊制試點、再融資鬆綁等一系列直接融資改革措施。

中金建議關注低估值A/H股大券商及互金龍頭東方財富(300059.SZ)、同花順(300033.SZ)等;以及關注業績彈性明顯的中型特色券商,如興業證券(601377.SH)、銀河證券(601881.SH)、國元證券(000728.SZ)等。

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