【中信证券:统筹市场投融资改革,逐步走向IPO新常态】中信证券指出,IPO常态化既是顺应投融资平衡的改革方向,也是资本市场服务实体经济的应有之义。股票市场的长期回报不能仅靠充裕的流动性实现,通过IPO引入优质的成长性公司才是市场长治久安的基础。以近5个月A股市场充裕的流动性水平看,在上市标准不放松的前提下,适度增加的IPO供给不会对市场造成负担。我们预计在内地及香港市场IPO活跃的带动下,证券行业有望凭借投行业务轻资产、高ROE的业务特征,实现基本面与估值的修复。

金融界
03 Mar
中信证券指出,IPO常态化既是顺应投融资平衡的改革方向,也是资本市场服务实体经济的应有之义。股票市场的长期回报不能仅靠充裕的流动性实现,通过IPO引入优质的成长性公司才是市场长治久安的基础。以近5个月A股市场充裕的流动性水平看,在上市标准不放松的前提下,适度增加的IPO供给不会对市场造成负担。我们预计在内地及香港市场IPO活跃的带动下,证券行业有望凭借投行业务轻资产、高ROE的业务特征,实现基本面与估值的修复。

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