Investment Banking and Brokerage

China Galaxy Securities Issues 2 Billion RMB Short-term Commercial Paper to Supplement Working Capital

China Galaxy Completes the Issuance of the Third Tranche of its 2026 Corporate Bonds

UBS Cuts Target Price for China 银河 to HKD 9.4

China Galaxy Announces a 10.09% YoY Growth in Net Profit for Q1 2026

CGS released FY2026 Q1 earnings on April 29 During-Market (BJT), actual revenue HKD 8.232 B (forecast HKD 10.71 B), actual EPS HKD 0.3174

JPMorgan Downgrades Galaxy Securities' Profit Forecast and Target Price

CGS to release FY2026 Q1 earnings report on April 29 during market hours (BJT), forecast revenue HKD 10.85 B

China Galaxy Securities issued 4 billion yuan short-term commercial paper

China Galaxy Holds Earnings Conference Call and Announces 2025 Annual Report

CICC Downgrades China 银河 Earnings Forecast

China 银河 Securities' Three-Year Strategic Plan Reaches Milestone: Investment Banking Rank Rise and Wealth Management Transformation

China Galaxy Announces Full-Year Profit Growth of 24.8%

CGS released FY2025 earnings on March 30 During-Market (BJT), actual revenue HKD 30.9 B (forecast HKD 41.12 B), actual EPS HKD 1.1257 (forecast HKD 1.4291)

CGS released FY2025 Q4 earnings on March 30 During-Market (BJT), actual revenue HKD 7.223 B (forecast HKD 8.207 B), actual EPS HKD 0.041 (forecast HKD 0.2891)

Galaxy Securities Establishes China-ASEAN Cooperation Fund to Promote Economic and Industrial Interconnection in ASEAN Market

CGS to release FY2025 earnings report on March 30 during market hours (BJT), forecast revenue HKD 42.15 B, EPS HKD 1.4649

China 银河 exercises redemption right to redeem 21 银河 Y2

China Galaxy Securities Reiterates Overweight Rating on Luckin Coffee

China Galaxy Securities Completes Acquisition of CMC Investment Bank's Securities Business

FAMEGLOW

HAICHANG HLDG

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UBS has lowered its target price for CGSfrom HKD11.6 to HKD9.4, maintaining a Neutral rating. The company's 1Q results met expectations with operating revenue of RMB7.4 billion and recurring net profit after tax of RMB3.3 billion, showing YoY growth of 16% and 10%, respectively. However, CGS underperformed compared to peers, as listed brokerages saw a 39% YoY increase in recurring net profit. UBS also reduced its EPS forecasts for 2026 to 2028 by 6% to 18% due to FY2025 results missing expectations.

AASTOCKS News

UBS Group AG

UBS Cuts CGS  TP to HKD9.4; 1Q Results In Line

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Citi's report on Chinese brokers highlights a strong revenue and net profit growth of 40% and 44% YoY in 1Q26, respectively. CICC is identified as the top pick with significant profit growth, while CGS showed the slowest increase. The bank revised earnings forecasts, expecting a 10% ROE for the year and a 35% upside potential for H-share brokers. Investment ratings and target prices for various brokers were provided, with CICC rated as a buy with a target price increase from HKD 27.12 to HKD 27.66.

CICC

Yinhua CSI All Share Investment Banking & Brokerage ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

CITIC SEC

CITIC Securities Co., Ltd.

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Huatai Securities Co., Ltd. GDR Class A RegS

Citi: CN Brokers Forecast FY ROE at Around 10%; Top Pick CICC

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CGSreported a net profit of RMB3.32 billion for 1Q26, marking a 10.1% year-on-year increase. Operating revenue rose by 15.7% to RMB7.355 billion, with earnings per share (EPS) at RMB0.28. The stock saw a rise of 3.4%, with short selling amounting to $20.02 million and a ratio of 9.022%.

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

CGS  1Q26 Net Profit RMB3.32B, Up 10.1% YoY

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On April 12, Galaxy Securities reported that March's Producer Price Index (PPI) turned positive year-on-year due to high oil prices. The report highlights profit recovery potential in China's A-share market, focusing on investment opportunities in energy, non-ferrous metals, defensive assets, technology innovation, and consumer sectors. It suggests sectors like coal, new energy, finance, and agriculture as key areas for investment. Additionally, easing conflicts may lead to recovery in previously oversold sectors.

CoinLive

SSE Index

STOCKS | Galaxy Securities Highlights Opportunities Amid Rising Oil Prices

China Galaxy (6881.HK) showed a high-level consolidation yesterday, with a significant decrease in trading volume. In the short-term technical pattern, the stock price has attempted to stabilize above the 5-day moving average but has not succeeded, showing a slight downward tendency. However, the MACD indicator is narrowing down, indicating that even though the bearish forces remain dominant, the bullish side can still maintain a certain defensive posture. There are also signs that the 10-day moving average is gradually approaching the stock price, and the short-term market sentiment is becoming more cautious

Technical Forecast

Morning Trend | CGS Short-term Volume Shrinks, Bull and Bear Standoff Upgrades?

CGS announced its full-year results for the year ended last December, with a revenue of RMB 38.064 billion, an increase of 12.5% year-on-year. The net profit was RMB 12.52 billion, an increase of 24.8% year-on-year; earnings per share were RMB 1.03. A cash dividend of RMB 0.225 per share was declared

AASTOCKS

"Performance" China Galaxy's annual net profit is 12.52 billion RMB, an increase of 24.8%, with a cash dividend of 2.25 RMB per share

CGS(06881.HK)

UBS Cuts CGS TP to HKD9.4; 1Q Results In Line

Citi: CN Brokers Forecast FY ROE at Around 10%; Top Pick CICC

CGS 1Q26 Net Profit RMB3.32B, Up 10.1% YoY

STOCKS | Galaxy Securities Highlights Opportunities Amid Rising Oil Prices

Morning Trend | CGS Short-term Volume Shrinks, Bull and Bear Standoff Upgrades?

"Performance" China Galaxy's annual net profit is 12.52 billion RMB, an increase of 24.8%, with a cash dividend of 2.25 RMB per share