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Li Shuchao, reporter of China Fund News

On July 16, the China Securities Regulatory Commission officially accepted Guodu Securities' application for shareholder change. After the above-mentioned share transfer is completed, Zheshang Securities will become the largest shareholder of Guodu Securities.

According to public information, Guolian Securities' acquisition of Minsheng Securities and Western Securities' acquisition of GuoRong Securities are currently being advanced in accordance with market-oriented and rule-of-law principles. In addition, Ping An Group is also required to resolve the issue of simultaneously controlling Ping An Securities and Founder Securities within a time limit in accordance with regulatory requirements.

Industry insiders said that mergers and acquisitions in the securities industry will help securities institutions to complement each other's business shortcomings and become bigger and stronger. It is also in line with the requirements of relevant spirits such as "cultivating first-class investment banks and investment institutions" and has positive significance for the high-quality development of the industry.

Zheshang Securities will become the largest shareholder of Guodu Securities

The shareholding ratio will reach 34.25%

On July 16, the China Securities Regulatory Commission officially accepted Guodu Securities' application to change its shareholders.

In the early stage, Zheshang Securities acquired 1.997 billion shares of Guodu Securities held by eight Guodu Securities shareholders including Chongqing International Trust Co., Ltd. through non-public agreement transfer and property rights exchange listing transfer, accounting for 34.25% of all Guodu Securities shares. After the completion of the above-mentioned share transfer,Zheshang Securities will become the largest shareholder of Guodu Securities。

Industry insiders said that the acquisition of Guodu Securities' equity by Zheshang Securities will be conducive to the deep integration of the two parties in terms of business, resources, technology, etc., and will help the company improve its market competitiveness, so as to better play the role of the main force in serving the real economy.

Guodu Securities was established in December 2001 with a registered capital of 5.83 billion yuan. The company is listed on the New Third Board. As of now, Guodu Securities has no controlling shareholder and no actual controller.

Tianyancha data shows that shareholders of Guodu Securities holding more than 5% of the shares and their shareholding ratios are: China Chengtong Trust Co., Ltd. holds 13.33%; Beijing International Trust Co., Ltd. holds 9.59%; Guohua Energy Investment Co., Ltd. holds 7.69%; Shandong Ocean Group Co., Ltd. holds 5.13%; and Oriental Venture Capital Management Co., Ltd. holds 5.13%.

As of the end of 2023, Guodu Securities' total assets were 33.879 billion yuan and its net assets were 10.865 billion yuan. In 2023, Guodu Securities achieved operating income of 1.381 billion yuan and a net profit of 714 million yuan.

Zheshang Securities was established on May 9, 2002, with a registered capital of RMB 3.878 billion. The controlling shareholder of Zheshang Securities is Zhejiang Shangsan Expressway Co., Ltd., which holds 54.79% of the shares of Zheshang Securities. The actual controller of Zheshang Securities is the State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province.

By the end of 2023, Zheshang Securities' total assets were 145.528 billion yuan and its net assets were 28.271 billion yuan. In 2023, Zheshang Securities achieved operating income of 17.638 billion yuan and net profit of 1.824 billion yuan.

Industry insiders said that in practice, some securities companies have made up for their business shortcomings through mergers and acquisitions, achieved the effect of "1+1>2", and have become leading securities companies. Moreover, mergers and acquisitions in the securities industry, making them bigger and stronger, are also in line with the relevant spirit of the Party Central Committee, the State Council and other relevant departments.

Recently, the Central Financial Work Conference proposed to "cultivate first-class investment banks and investment institutions"; the "Several Opinions of the State Council on Strengthening Supervision, Preventing Risks and Promoting High-Quality Development of the Capital Market" proposed to "support leading institutions to enhance their core competitiveness through mergers and acquisitions, restructuring, organizational innovation and other means." The China Securities Regulatory Commission's "Opinions on Strengthening Supervision of Securities Companies and Public Funds to Accelerate the Construction of First-Class Investment Banks and Investment Institutions (Trial)" proposed to "appropriately expand the capital space of high-quality institutions and support leading institutions to become better and stronger through mergers and acquisitions, restructuring, organizational innovation and other means."

Editor: Captain

Review: Chen Mo

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