Western Securities(SZ:002673)2022-12-08 09:31Group 1: Brokerage Business - The company is enhancing customer service quality to improve client output [2] - It is implementing a regional deepening strategy to strengthen competitive advantage [3] - The focus is on increasing the proportion of non-channel business revenue and optimizing the income structure [3] - Wealth management is prioritized to accelerate the strategic transformation of brokerage business [3] Group 2: Investment Banking - The investment banking segment has seen rapid revenue growth this year, with ample project reserves in IPOs, refinancing, and major asset restructuring [3] - Financial advisory services for restructuring will be a key focus for future development [3] - The company is actively developing private bonds for SMEs, corporate bonds, and enterprise bonds approved by the National Development and Reform Commission [3] Group 3: Proprietary Trading - Proprietary trading remains a traditional strength, with an increase in overall scale while optimizing asset allocation to reduce risks [4] - The company is controlling equity investment scale and increasing bond investment efforts, achieving good returns [4] - Research on convertible bonds has intensified, with a focus on large-cap blue-chip convertible bonds [4] - The company has strengthened research and implementation of innovative financial products, including individual stock options [4] Group 4: Innovative Business - The company is exploring innovative models for margin financing and securities lending, enhancing customer service and brand competitiveness [4] - There is a commitment to invest in new third board recommendation business and market-making business [4] - Internet finance is being utilized as a means of information service, with the necessary infrastructure in place [4] Group 5: "Belt and Road" Investment Opportunities - Specific favorable policies related to the "Belt and Road" initiative have not yet been issued, but the company has expanded its operations westward [5] - Branches have been established in Ningxia and Gansu, and business has commenced in Xinjiang [5] Group 6: Use of Funds from Private Placement - The funds raised from private placement will primarily supplement operational capital, focusing on margin financing, fixed income, proprietary trading, and branch establishment [5] Group 7: e-Rongbao - The "e-Rongbao" service is an innovative small-scale financing product based on stock pledge repurchase transactions, with funds available on T+1 day [5] - This service meets the growing demand for quick and efficient small-scale financing, playing a strategic role in business innovation and profit source expansion [5]