Zhitong Financial APP learned that open source securities released a research report that the comprehensive registration system reform was officially launched, and the financial IT ushered in a good opportunity for layout. On February 1, the full implementation of the reform of the stock issue registration system was officially launched. At present, there are 140securities companies and 156public fund managers in China. According to the data of Zaizhao.com, the bank is expected to bring about 890 million yuan of incremental space to the financial IT market. The bank believes that in the context of the accelerated promotion of financial innovation and the continued release of policy benefits, the prosperity of the financial IT industry is expected to accelerate in the next few years, and the financial IT will usher in a good opportunity for layout.
Recommended:Hang Seng Electronics (600570.SH), Vertex Software (603383.SH), flush (300033.SZ), Compass (300803.SZ), Wealth trend (688318.SH), benefit from the underlying Golden Securities shares (600446.SH), win time wins (300377.SZ).
The main points of open source securities are as follows:
The full registration system starts to exceed market expectations, and the financial IT industry directly benefits.
(1) since 2022, the work reports of the Securities Regulatory Commission and the government have indicated that the stock issue registration system has been fully implemented, and the comprehensive registration system reform was officially launched in February 2023, exceeding market expectations. The reform of the registration system draws lessons from the experience of Science and Technology Innovation Board and gem to further improve the main board trading system under the guidance of more marketization and convenience. After the full registration system is established, the listing process, issue pricing, transaction system, transaction qualification and the number of listed companies will all change. The IT system industry of securities, asset management, funds, insurance and other financial institutions needs to be reformed and upgraded, involving the core trading system, investment banking, asset management, compliance, risk control and other business lines.
(2) according to the data of Securities Industry Association and Securities Investment Fund Association, there are 140securities companies and 156public fund managers in China. According to the data of Zaizha.com, the amount of reform of the gem registration system was about 3 million yuan. According to this, it is estimated that the bank will bring about 890 million yuan of incremental space to the financial IT market. With reference to the gem registration system reform, the regulation requires the relevant financial institutions to complete the relevant technical system transformation within 2 months. The bank expects that this comprehensive registration system reform will also play a role in pulling the income of financial IT manufacturers in the short term.
Policy benefits continue to release, financial IT ushered in a good opportunity for layout
The driving factors of the financial IT industry include policy stimulus and the demand of the industry itself. In January 2023, the China Securities Association issued a draft of the "Network and Information Security three-year Promotion Plan (2023-2025)" to securities firms, encouraging qualified securities firms to invest no less than 8% of the average net profit or 6% of the average operating income in the next three years, and qualified securities firms actively promote the construction of a new generation of core systems. According to the Securities Association, only 20 companies will spend more than 6 per cent of their income on information technology in 2021, and the policy is expected to encourage securities firms to invest more in IT. The bank believes that in the context of the accelerated promotion of financial innovation and the continued release of policy benefits, the prosperity of the financial IT industry is expected to accelerate in the next few years, and the financial IT will usher in a good opportunity for layout.
Risk Tips:Policy promotion is not as expected; financial IT investment is not as expected; industry competition is intensified.