《大行報告》摩通:中信証券(06030.HK)及中金(03908.HK)料最受惠股票發行註冊制落地 評級「增持」
摩根大通發表報告指,中證監宣布就全面實行股票發行註冊制主要制度規則,將向社會公開徵求意見,預計內地券商股股價有出正面影響,該行首選為中信証券(06030.HK)及中金公司(03908.HK),料兩者承銷競爭優勢進一步增強,將最受益於政策支持,風險回報亦具有吸引力,目標價分別為19.8元及27.2元,評級同為「增持」。
該行指,中證監諮詢文件反饋期只有約兩個星期,預料註冊制落地最快可能在2月底至3月初實施,與上海科創板和深圳創業板相比,主板仍然瞄準商業模式更成熟、經營規模/業績更大/更穩定的藍籌公司,對經營表現亦有不同要求,上市後首五個交易日不設漲跌幅限制,則與科創板和創業板相同,但上市後漲跌幅限制仍為10%,對比科創板和創業板為20%。
摩通指,內地註冊制自2019年試點以來,IPO集資額增長顯著,券商投行費用於2018至2021年間增加一倍多,預計註冊制全面落地,正向的監管環境將在未來1至2年內持續存在,為券商承銷業務帶來可觀增長。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.