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guotai junan and haitong securities suspended trading and "missed out" on the surge in this round. more than 20 public offerings have intensively adjusted their valuations.

2024-09-27

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in the past two days, more than 20 companies including e fund, gf fund, and harvest fund have intensively released announcements on valuation adjustments for guotai junan (601211.sh) or haitong securities (600837.sh) held by their funds. china business news reporters learned from many companies in the industry that this move was mainly due to the sharp rise in the non-bank financial sector in recent days, and the prices of the above two suspended stocks no longer reflect the latest situation.

from a disk perspective, after the a-share market dropped to a low of 2,689.7 points on september 18, it rose strongly and broke through several integer marks. as of the close of trading on september 26, the shanghai composite index had recovered 3,000 points and was fixed at 3,000.95 points. as the "bull market standard bearer", the brokerage sector has also risen significantly, with the brokerage index (884780.wi) rising by 16.04% in the last eight trading days.

"if the fund manager does not adjust the valuation and still calculates the net value based on the stock price before the suspension, there will be a certain degree of arbitrage." some people in the fund industry interviewed said that the valuation adjustment is to avoid arbitrage and to treat people fairly. investors consider ensuring that the net value of fund products can reflect the asset status in a timely and accurate manner. this is mostly applicable to fund holdings.

intensive public offerings adjust stock valuations

during the market's bottom-out recovery, the brokerage sector exploded. 46 brokerage stocks rose by more than 10% in the past seven days. oriental fortune, guohai securities, and jinlong shares rose by more than 30%. guotai junan securities and haitong securities, which were suspended from trading due to major asset restructuring, obviously did not participate in this "carnival". recently, a number of public offerings have made valuation adjustments to the stocks of guotai junan or haitong securities held by their funds.