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China Fund News reporter Wang Jianqiang

On July 23, the three major A-share indices opened lower. As of press time, none of the major A-share indices have turned positive.

Among them, the Shenzhen Component Index's decline widened to 1%, and more than 3,000 stocks in the two markets fell.

As of press time, the Science and Technology Innovation 50 Index's decline widened to more than 2%, with Lanqi Technology falling 6%, leading the decline in its component stocks.

On the market, smart logistics, ST and other sectors led the gains; semiconductors, lithography machines, and biomedicine concept stocks led the losses.

A-share brokerage stocks rose

Jinlong shares rose for two consecutive days

In the morning session of July 23, the securities sector opened with a sharp drop of more than 1%.

But near 10:30, brokerage stocks moved up abnormally during the trading session, Jinlong shares rose sharply, hitting the daily limit for two consecutive days; Tianfeng Securities once rose by more than 5%, and Shenwan Hongyuan, Orient Securities, Huaan Securities and other brokerage stocks followed suit slightly.

Recently, CITIC Securities has become the focus of market attention. From July 9th to yesterday (July 22nd), its stock price has been rising for nearly 10 consecutive days, with a cumulative increase of nearly 15.4%. It not only ranks first among all securities stocks, but also outperforms the 93.95% increase of A-shares in the same period.

As for other brokerage stocks, the share prices of Hongta Securities, Guosheng Financial Holdings and China Merchants Securities have been active recently, with increases of 13.5%, 11.3% and 10.2% respectively in the past 10 days. Orient Securities, CITIC Construction Investment, Everbright Securities, CICC and other stocks have also seen top gains.

Since the beginning of this year, the overall trend of the securities sector has been relatively sluggish. Industry insiders said that the current valuation level of the securities sector is relatively low, coupled with the steady progress of capital market reforms, accelerated mergers and acquisitions and restructuring, and other factors, the securities sector market is expected to usher in a catalyst.

Wang Fangchao, chief non-bank analyst at Cinda Securities, said that the current PB valuation of the securities sector is 1.15 times, which is the lowest level in the past three years. The current PB valuation of the leading securities firms is also basically around 1 times, and the current sector valuation reflects the market's pessimistic expectations. In the context of building a first-class investment bank and intensive development of the industry, the current industry PB valuation level has a strong safety margin.

ST sector is active against the trend‍

More than 20 stocks hit the daily limit

On the morning of July 23, ST stocks continued to be active against the trend, with more than 20 stocks including ST Huke, ST Molong, ST Yushun, ST Infinova, and ST Chuntian hitting their daily limit.

Among them, *ST Jingfeng has been on the board for 15 consecutive days, ST Chuntian has been on the board for 9 consecutive days, and *ST Zhongrun has been on the board for 5 consecutive days.

*ST Shentian hit the limit down

Lock in market value and delist

*ST Shentian hit the daily limit again, with the company's stock price at 1.81 yuan per share and a total market value of 251 million yuan. This is the 19th consecutive trading day that the company's closing market value has been below 300 million yuan.

Even if the stock price rises by the daily limit in the next trading day, the company's market value will not exceed the 300 million yuan threshold. This also means that the closing market value of the company's stock will be less than 300 million yuan for 20 consecutive trading days, meeting the conditions for delisting due to market value. If *ST Shentian is delisted due to this, it will become the first A-share company delisting due to market value in history.

*ST Shentian was listed on the Shenzhen Stock Exchange Main Board with the abbreviation "Shentiandi A". It has been listed for 31 years. Its main business is the production and sales of commercial concrete. In August last year, it was announced that the company and its actual controller Lin Hongrun were under investigation for suspected illegal information disclosure.

Editor: Captain

Review: Chen Mo

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