Brokerages Appear in 202 Half-Year Reports; CITIC Securities Leads with RMB 24B Stake Value
As of August 27, 202 brokerages appeared in the shareholder lists of listed companies' half-year reports. CITIC Securities led by market value with RMB 24 billion across 17 holdings, including major stakes in CSC Financial and optical module makers. Guosen Securities held the most positions at 22. Sector-wise, hardware equipment and machinery dominated, while some brokerages added high-dividend utility and transport stocks.
As of August 27, a total of 202 listed companies disclosed brokerages in their half-year report shareholder lists. By industry, 19 were in hardware equipment, 17 in machinery, 14 in utilities, and 13 each in transportation and pharmaceuticals. In the second quarter, brokerages' key holdings focused on hardware equipment and manufacturing supply chains, while some also positioned in high-dividend assets such as utilities and transportation at lower valuations.
By market value of holdings, CITIC Securities ranked first with 17 targets and RMB 24 billion in holdings. As of the end of the second quarter, CITIC Securities held 383 million shares of CSC Financial, valued at RMB 11.129 billion; 5.4747 million shares of Zhongji Innolight, valued at RMB 6.953 billion; and 5.9668 million shares of Eoptolink, valued at RMB 3.622 billion. CITIC Securities became a new top-ten circulating shareholder of Zhongji Innolight at the end of the second quarter. Due to Eoptolink's 10-for-4 bonus share plan in June, CITIC Securities reduced its Eoptolink holdings by 1.8979 million shares in the second quarter.
By number of holdings, Guosen Securities held the most targets at 22, with a market value of RMB 3.46 billion, followed by CITIC Securities. Guotai Junan Securities held 15 targets worth RMB 1.33 billion. Huatai Securities held 14 targets worth RMB 11.037 billion, including 923 million shares of Bank of Jiangsu, with a single-target market value of RMB 9.955 billion.
Among the 19 hardware equipment holdings, CITIC Securities held two optical module leaders, Zhongji Innolight and Eoptolink. Changjiang Securities Innovation Investment held 6.8189 million shares of PCB maker Guanghe Technology, valued at RMB 1.618 billion. Guotai Junan Securities held Qingniao Intelligent Control worth RMB 120 million, HKC shares worth RMB 29 million, and Meishi Technology worth RMB 29 million. CICC held HKC shares worth RMB 44 million, Jingjia Micro worth RMB 191 million, Suzhou Suda Weige worth RMB 109 million, Weitongli worth RMB 13 million, and Jujie Microfiber worth RMB 41 million. Jingjia Micro, a representative domestic GPU maker, was held by both CICC and Shenwan Hongyuan, with the latter holding about RMB 181 million. Guosen Securities held Hongrida worth RMB 338 million, and SDIC Securities held Yealink Network worth RMB 144 million.
In the utilities sector, with 14 holdings records, Foran Energy was held by three brokerages: China Merchants Securities held RMB 75 million, Orient Securities RMB 43 million, and Wanlian Securities RMB 20 million. Hongcheng Environment was held by Guotai Junan and China Merchants Securities with RMB 117 million and RMB 116 million, respectively. China Resources New Energy was held by two brokerages. In transportation, with 13 holdings records, the largest holding by market value was Zhonggu Logistics, held by Dongxing Securities, Guoyuan Securities, and Huatai Securities with a combined value of about RMB 577 million. Yuegang Expressway A was held by China Merchants Securities and Orient Securities with a combined value of about RMB 512 million. Huatai Securities also held Yantian Port, Guosen Securities held Sinotrans and Guanghui Logistics, with Sinotrans valued at RMB 217 million, and SDIC Securities held COSCO Shipping Specialized Carriers, valued at RMB 178 million.
In high-dividend allocations, China Merchants Securities held six transportation and utility targets, including Yuegang Expressway A, Dongguan Holdings, Foran Energy, Shenzhen Expressway, Tunnel Co. , and Zhongtai Securities, with most being new or unchanged positions in the second quarter. In pharmaceuticals, brokerages held 13 stocks with a total market value of about RMB 2.424 billion. China Resources Jiangzhong was held by Orient Securities, Soochow Securities, and Guoyuan Securities, with a combined value exceeding RMB 900 million. CITIC Securities held Shanghai RAAS, valued at RMB 537 million, and Guotai Junan held Yuhuan Pharmaceutical, valued at RMB 273 million.
The proprietary trading descriptions in brokerages' half-year reports reflect divergent investment styles. Guotai Junan stated that its investment business practices value investing, strengthens global asset allocation and trend-capturing capabilities, and will balance functionality and profitability in future equity operations while enhancing cross-border service efficiency.