HK Stock Market Move | Chinese-funded securities firms continue to rise, with star projects such as Changxin concentrated on meeting. It is expected that securities firms' second-quarter performance will continue to show high growth.

Chinese-funded securities firms continued to rise. As of press time, Guotai Haitong (02611) rose by 5.13% to 13.73 Hong Kong dollars; Huatai (06886) rose by 3.6% to 16.42 Hong Kong dollars; GF SEC (01776) rose by 3.03% to 16.64 Hong Kong dollars; CMSC (06099) rose by 2.32% to 14.98 Hong Kong dollars. On the news side, star projects are concentrated in the meeting. On May 19, Changjiang Storage completed IPO guidance filing with the Hubei Securities Regulatory Bureau. On May 27, Changxin Technology's Science and Technology Innovation Board IPO was approved at the listing committee meeting. Yushu Technology is scheduled to have a meeting on June 1, taking only 73 days from its acceptance by the Shanghai Stock Exchange on March 20 to the listing review meeting. Open Source Securities pointed out that the approval of star projects is expected to become a new catalyst for the securities sector, and the second-quarter performance of securities firms is expected to continue to grow. It is worth noting that Huaan is expected to hold 0.39% of Changxin Technology's shares after its IPO, and CMSC's shareholding will reach 0.75%. According to the target market value of 2-3 trillion yuan, the estimated floating profits for a single investment are expected to reach 7.3-11.3 billion yuan and 14.4-21.9 billion yuan respectively.