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a lot of information! changjiang securities responded to the merger of tianfeng securities, market value management, and sub-account commissions

2024-09-12

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on september 12, changjiang securities (000783.sz) held a semi-annual performance briefing for 2024, and investors asked questions about issues such as the decline in sub-account commissions and the failure to distribute dividends in the interim period.

the most concerned issue is the expected merger between changjiang securities and tianfeng securities. vice president and secretary of the board of directors zhou chun responded that the company currently has no major events that should be disclosed but have not been disclosed.

it is worth mentioning that both of the above-mentioned securities companies are located in hubei. if changjiang securities successfully completes the equity transfer, the major shareholder will be changed to changjiang industrial group (a wholly-owned enterprise of the hubei state-owned assets supervision and administration commission). the major shareholder of tianfeng securities is hubei hongtai group co., ltd., and the actual controller is the hubei provincial department of finance.

another investor asked, "the share price of changjiang securities has been lower than its net assets for a long time. are there any practical measures to maintain the share price?"

chairman jin caijiu responded that the company focuses on three aspects of market value management. the first is value creation. in recent years, the company's businesses have accelerated development, its foundation has become more solid, and its high-quality development has achieved remarkable results. the second is value maintenance, and conveying confidence to the market through continuous cash dividends. the third is value communication, strengthening communication with investors, and promoting investors' understanding of the company's business development.

regarding the decline in the commission of the research institute's sub-accounts after the reform of the public offering rate, president liu yuanrui said that, first, we will continue to focus on the origin of the business, constantly improve our research and service capabilities, and continue to maintain our outstanding research advantages and strong market influence. second, we will explore new business growth points. in recent years, the company has continued to deploy non-public offering businesses, expand private equity funds, insurance, bank wealth management subsidiaries and other clients, and comprehensively increase non-public offering business revenue; actively promote the internationalization of research business, increase the linkage between domestic and international businesses, and continue to promote the "yangtze river research" brand overseas with the hong kong subsidiary as a starting point to broaden the source of income. at the same time, the company attaches importance to the internal empowerment of research business, actively improves the internal transformation of research value, and deeply empowers core business links including brokerage, asset management, proprietary trading, and investment banking.

when talking about compliance and risk control, independent director yu zhen said that a sound and comprehensive risk management system should be established to effectively cover all departments, subsidiaries, branches and business lines of the company, and run through all aspects such as decision-making, execution, supervision and feedback to ensure that all major risk control indicators of the company continue to meet regulatory indicators and have strong risk resistance capabilities.