How about Haitong Securities stocks?
Recently, Haitong Securities (stock code: 600837), as a leading comprehensive securities firm in China, has attracted much attention from investors. This article will analyze the investment value of Haitong Securities stocks for you from multiple dimensions such as market performance, financial data, industry comparison and institutional ratings, combined with the hot topics on the Internet in the past 10 days.
1. Recent market performance
The following is the stock price fluctuation of Haitong Securities in the past 10 trading days:
| Date | Closing price (yuan) | Increase or decrease | Trading volume (10,000 lots) |
|---|---|---|---|
| 2023-11-01 | 9.45 | +1.18% | 32.5 |
| 2023-11-02 | 9.32 | -1.38% | 28.7 |
| 2023-11-03 | 9.51 | +2.04% | 35.2 |
| 2023-11-06 | 9.63 | +1.26% | 30.8 |
| 2023-11-07 | 9.55 | -0.83% | 25.4 |
| 2023-11-08 | 9.68 | +1.36% | 33.1 |
| 2023-11-09 | 9.72 | +0.41% | 29.6 |
| 2023-11-10 | 9.65 | -0.72% | 27.3 |
Judging from the data, Haitong Securities' stock price has recently shown a volatile upward trend, with a cumulative increase of approximately 2.12% in 10 days, outperforming the Shanghai Composite Index (+1.35%) during the same period.
2. Financial data perspective
According to the key financial indicators disclosed in the third quarter report of 2023:
| indicator | Value (100 million yuan) | Year-on-year change |
|---|---|---|
| operating income | 247.89 | +12.3% |
| Net profit attributable to parent company | 85.67 | +18.6% |
| ROE | 6.82% | +1.2pct |
| Brokerage income | 59.24 | +9.7% |
| Investment banking income | 32.15 | +25.4% |
It is worth noting that the company’s investment banking business performed brilliantly, mainly benefiting from the growth in the underwriting scale of IPO projects on the Science and Technology Innovation Board.
3. Industry Comparative Analysis
Comparison of valuation with leading securities firms in the same industry:
| Broker name | PE（TTM） | PB(LF) | dividend yield |
|---|---|---|---|
| Haitong Securities | 15.3 | 0.98 | 2.8% |
| CITIC Securities | 18.7 | 1.35 | 2.1% |
| Huatai Securities | 16.2 | 1.12 | 2.5% |
| Guotai Junan | 14.8 | 1.05 | 3.0% |
Haitong Securities' current price-to-book ratio is lower than the industry average (1.15), and it has certain valuation advantages.
4. Latest views of the organization
According to statistics from brokerage research reports in the past 10 days:
| institution | Rating | Target price (yuan) | core ideas |
|---|---|---|---|
| CICC | Overweight | 11.2 | Wealth management transformation has achieved remarkable results |
| CITIC Construction Investment | Buy | 10.8 | FICC business has outstanding competitiveness |
| Shen Wanhongyuan | Neutral | 9.6 | Self-operated business is highly volatile |
5. Investment advice
Taken together, Haitong Securities has the following investment highlights:
1.Valuation advantage: The current PB is less than 1 times, at the 30% of history
2.Business Highlights: Two-wheel drive of investment banking + asset management, rich reserves of science and technology innovation board projects
3.policy catalysis: The Central Financial Work Conference proposed "activating the capital market", and the securities sector benefited
Risk warning: You need to pay attention to risk factors such as shrinking market trading volume and larger-than-expected self-operated investment losses. It is recommended that investors make arrangements in batches based on their own risk preferences.
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