seagames1998| Guohai Securities '351.6 million fixed and restricted shares will be lifted tomorrow

On the evening of May fourteenthSeagames1998, Guohai Securities (000750) (000750, share price 3Seagames1998The ban on 351.6 million restricted shares held by the company's 11 restricted shares will be lifted on Friday, according to a notice issued by .28 yuan, with a market capitalization of 20.947 billion yuan.

A reporter from the Daily Economic News noted that in 2023, under the background of continuous shrinking refinancing of securities firms, the smooth landing of Guohai Securities in November of that year attracted the attention of people in the industry. At that time, the issue price was 3.39 yuan per share, the number of shares issued was 942 million shares, and the total amount of funds raised was 3.192 billion yuan, which was subscribed by 14 investors. However, six months later, when 11 of the shareholders ushered in the lifting of the ban, Guohai Securities's share price has been performing poorly, closing down 2.38% at 3.28 yuan on May 15. In other words, the shareholders still lose 0.11 yuan per share.

The poor performance of share prices has also been accompanied by sluggish recent earnings growth. The revenue of Guohai Securities in the first quarter of 2024 was about 802 million yuan, down 18.85 percent from the same period last year; the net profit belonging to shareholders of listed companies was about 93.56 million yuan, down 58.66 percent from the same period last year; and basic earnings per share was 0.01 yuan.

Judging from the announcement of the lifting of the ban disclosed by Guohai Securities, Hua an Securities (600909), Nord Fund, Caitong Fund and Xingzheng Global are all involved in many asset management plans, resulting in as many as 97 accounts of 11 restricted shareholders. Visual China (000681)

The approval will be increased and landed on the eve of the expiration of the approval.

As early as November 15, 2022, Guohai Securities received a fixed increase approval, valid for 12 months. Under the influence of the market, Guohai Securities did not officially land until November 2023, just before the approval was about to expire. The number of directional additional issuance objects is finally determined to be 14. Guohai Securities's controlling shareholder and actual controller Guangxi Investment Group and its holding subsidiaries Zhongheng Group (600252) and Guangxi Golden Investment Group subscribed in cash, of which Guangxi Investment Group subscribed for 900 million yuan, Zhongheng Group subscribed for 300 million yuan, Guangxi Golden Investment subscribed for 800 million yuan, and the three subscribed for a total of 2 billion yuan, promising to limit the sale for 60 months.

The lifting of the restricted shares of 351.6 million shares that can be listed and circulated will be subscribed by the remaining 11 investors, supported not only by many industry competitors, but also by fund companies. Guotai Junan (601211), Huaan Securities and Guangfa Securities (000776) subscribed for 310 million yuan, 100 million yuan and 21 million yuan respectively, while Nord Fund, Caitong Fund and Xingsheng Global Fund subscribed for 252 million yuan, 125 million yuan and 20 million yuan respectively. In addition, USG AG and Morgan Stanley International also participated in the subscription.

It is worth mentioning that, from the announcement of the lifting of the ban disclosed by Guohai Securities, Huaan Securities, Nord Fund, Fortune Fund and Xingzheng Global are all involved in numerous asset management plans, resulting in as many as 97 accounts involved in the 11 restricted shares. Taking into account the nature of the financial investors of the above shareholders, this may pose a certain pressure on the short-term secondary market trend of Guohai Securities.

In addition, according to the Daily Business News, the stock price of Guohai Securities performed poorly after the completion of the fixed increase due to the decline in the market at the end of 2023 and the beginning of 2024. In February 2024, its share price fell below the 3.00 yuan mark. On May 15, the company's share price closed at 3.28 yuan, down 2.38%. In other words, the shareholders still lose 0.11 yuan per share.

There are still a number of securities firms to promote the fixed increase.

However, compared with many peers who are still waiting for financing, Guohai Securities successfully landed in November 2023, which is of great benefit to the company to consolidate its capital strength, optimize its capital structure and reduce financial risks.

In fact, in the context of the current regulatory tightening, listed securities firms have a long way to go to refinance. In particular, on August 27th, 2023, the CSRC issued a document to coordinate the primary and secondary market balance and optimize the regulatory arrangements for IPO (initial public offering) and refinancing: "for large refinancing of listed companies in the financial industry or large market capitalization listed companies in other industries, we should implement pre-communication mechanism and pay attention to the necessity of financing and the timing of issuance."

According to Oriental Fortune (300059) Choice financial terminal data, there are still Sino-Thai Securities, Tianfeng Securities (601162), Nanjing Securities (601990), Jinlong shares (000712), Caida Securities are waiting to promote the fixed increase work.

In addition, in 2023, in accordance with the regulatory requirements, Sino-Thai Securities, Nanjing Securities and Caida Securities have revised the initial fixed increase plan, or reduced the amount of capital raised, or refined the direction of fund-raising.

It is worth noting that there are securities firms after a long wait, the original fixed increase plan ended in failure.

A reporter from the Daily Economic News noted that in March 2024, Zheshang Securities (601878) issued a notice saying that the resolution on the preliminary plan for the company to issue shares to specific targets (revised draft) approved by the company's shareholders' general meeting on March 17, 2023 exceeded the validity period of 12 months, so it automatically lapsed.

Zheshang Securities originally planned to raise no more than 8 billion yuan, mainly invested in self-management, capital intermediary business and debt repayment. The plan was approved by Zhejiang State-owned assets Supervision and Administration Commission in March 2023. Within the following year, there was no other substantial progress in the fixed increase plan of Zheshang Securities, and finally expired, which became another typical case of the cooling of the fixed increase market.