MB-GTHT@EC2601A

Guotai Haitong Securities Determines Coupon Rates and Issues Corporate Bonds

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Guotai Haitong Expected to See Significant Profit Growth in 2025

E fund Management reduced 4.668 million shares of Guotai Haitong

China Securities Rises in 2025 A-Share IPO Market

Guotai Haitong Approved to Publicly Issue Up to 110 Billion Yuan in Corporate Bonds

Guotai Hantong Publishes Report: Domestic AI Large Model Industry Accelerating Development

Hangzhou WeiJing Completes A+ Round Financing

BofA Securities Upgrades CITIC Securities' Stock Rating to Buy

Wuhan Urban Construction Group's 8.95 billion yuan corporate bond project has been accepted for review

M&G plc Launches Asian Premium Yield Fund

Q3 Wealth Management Products Scale Surges Past 32 Trillion, Revenue Growth Expected to Stabilize

Ningbo Yongyuan Junsheng Private Equity Investment Partnership Established, Engages in Private Equity Funds

Huyuan Mall's 2025 Corporate Bond Project Status Updated to 'Under Review'

Shenzhen Stock Exchange Punishes China Resources Save Energy Iron Han Environmental Co., Ltd. and Executives for Financial Data Issues

GuoTai HaiTong Signs Strategic Cooperation Agreement with Anhui Investment Group

Guotai Junan Holdings issued 500 million bonds

GuoTaiSec Successfully Redeemed Its 10th Short-Term Financing Bill of 2024

GuoTai Haitong Securities Analyzes ByteDance's VolcEngine Winter Conference to Release DouBao Model Updates

Anhui Guotou Guotai Haitong Health M&A Private Equity Fund Established

TIMES UNI GP

CENTURY GINWA

STARGLORY HLDGS

RIDGE OUTDOOR

SYNAGISTICS

PROSP INV HOLD

HING LEE (HK)

ELEGANCEOPTICAL

CH ENV TECH&BIO

SHANGHAI QINGPU

02611

01788

Bank of America Securities released a research report listing the investment ratings and target prices for Chinese brokerage stocks. CITIC Securities is rated as Buy, with a target price of HKD 35.7; Guotai Haitong is rated as Buy, with a target price of HKD 21.4; HTSC is rated as Buy, with a target price of HKD 22.1; GF SEC is rated as Buy, with a target price of HKD 22.9; CMS is rated as Underperform, with a target price of HKD 15.3; CGS is rated as Neutral, with a target price of HKD 12.1; CICC is rated as Buy, with a target price of HKD 26.9; CSC is rated as Buy, with a target price of HKD 15.7; DFZQ is rated as Underperform, with a target price of HKD 6.1

AASTOCKS

CAITONG SECURITIES

GTHT

CICC

HTSC

DFZQ

CMSC

CITIC SEC

GF SEC

GUOTAI JUNAN I

Guotai Haitong

CITIC Securities Co., Ltd.

"Major Banks" Bank of America Securities' Investment Ratings and Target Prices for Chinese Brokerage Stocks (Table)

512000

513750

159842

512880

Bank of America Securities released a report stating that the fundamentals of Chinese brokerage stocks have decoupled from their stock price performance. Despite upward revisions in profit forecasts, A-shares and H-shares have performed poorly, affected by the national team's reduction in holdings and equity financing. The bank believes that the fundamentals of brokerages are robust and anticipates the government to introduce supportive policies, expecting a strong revaluation of valuations. Bank of America Securities prefers H-shares, giving "Buy" ratings to Guotai Haitong, CICC, and GF SECURITIES, and upgrading the rating of HTSC to "Buy," with a target price of 22.1 yuan

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

E Fund CSI Hongkong Bond Investment Theme ETF

GF SECURITIES

Yinhua CSI All Share Investment Banking & Brokerage ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

"Big Banks" Bank of America Securities: The fundamentals of Chinese brokerage stocks are decoupled from stock price performance, looking forward to the introduction of supportive policies

As of February 6, 685 listed companies have received brokerage research teams this year. Leading brokerages, leveraging the advantages of their research teams, have become the "main force" in the research market, with CITIC Securities ranking first with 213 research visits; Changjiang Securities, Guotai Haitong, and CICC also exceeded 150 visits each; 12 brokerages including Guosen Securities, Huatai Securities, Western Securities, GF SEC, and CSC have all conducted over 100 research visits

Wallstreetcn

Sealand Securities

SDHT

ZHONGTAI SECURITIES

Changjiang Securities

SINOLINK SECURITIES

GUOSEN SECURITIES

Western Securities

Huaan Securities

Since the beginning of the year, securities firms have "visited" a total of 685 A-share companies

After the market closed on January 30, Guotai Junan International (1788.HK) experienced a stalemate in market sentiment, with major funds choosing to remain on the sidelines. Recently, the Hong Kong stock brokerage sector has continued to weaken, and the several waves of rebounds constructed at the beginning of the year have not been effectively sustained. Market liquidity continues to shrink, and traditional funds prefer to avoid risk sectors. HKD 2.64 has become a critical point of focus during trading, with many short-term traders watching to see if a new defensive line will form here. Currently, there are no substantial positive factors for the brokerage sector, and international major banks have been continuously downgrading industry ratings, leading to overall low market sentiment in Hong Kong stocks. Coupled with continuous outflows of foreign capital, the "buying pressure" has significantly decreased. During trading, there is often only small-scale volume when prices approach key levels, and at this time, the downward momentum is usually stronger. 

From a technical perspective, the daily structure remains under the control of bears, with the MACD crossing below the zero line, and short-term moving averages suppressing the K-line to continue its downward search for a bottom. The intraday capital flow is mainly outflow, with occasional technical corrections that are difficult to reverse the downward trend. Right-side traders are focused on whether the main force will launch a counterattack at critical positions, which will be key for subsequent operations. There is considerable short-term risk, especially if HKD 2.64 is broken with increased volume, which could trigger a new round of panic in the market. Before any obvious positive news emerges, it is recommended to dynamically track the policy environment and signals of major fund repositioning, being cautious of sudden negative news that could invalidate technical signals. Investors should pay close attention to intraday anomalies and marginal changes in regulatory and industry policies, combining technical, volume-price, and capital dynamic signals for risk control, and avoid blindly chasing rebounds

Technical Forecast

Morning Trend | GUOTAI JUNAN I main force hedges, can the support at 2.64 yuan hold?

MB-GTHT@EC2601A(18759.HK)

"Major Banks" Bank of America Securities' Investment Ratings and Target Prices for Chinese Brokerage Stocks (Table)

"Big Banks" Bank of America Securities: The fundamentals of Chinese brokerage stocks are decoupled from stock price performance, looking forward to the introduction of supportive policies

Since the beginning of the year, securities firms have "visited" a total of 685 A-share companies

Morning Trend | GUOTAI JUNAN I main force hedges, can the support at 2.64 yuan hold?