It is reported that the equity involved in this change is the 43.35% equity held by China Construction Bank Investment Co., Ltd. (hereinafter referred to as "CCB Investment"), which has been formally transferred to Central Huijin Investment Co., Ltd. Company (hereinafter referred to as "Huijin Company").
Information from the website of the China Securities Regulatory Commission shows that an application for the change of CICC ’s equity was submitted to the China Securities Regulatory Commission in early May and was accepted, and it was officially approved on August 13.
It is reported that the equity involved in this change is the 43.35% equity held by China Construction Bank Investment Co., Ltd. (hereinafter referred to as "CCB Investment"), which has been formally transferred to Central Huijin Investment Co., Ltd. Company (hereinafter referred to as "Huijin Company").
After the completion of the shareholding change, Huijin held 43.35% of the equity of CICC as its major shareholder. As a result, the number of securities firms directly or indirectly controlled by Huijin has increased to four, namely: Shenyin Wanguo Securities, Galaxy Securities, China Investment Securities, and China Gold Corporation.
At the same time, there is only one Hongyuan Securities (000562) left by CCB Investment Holdings, and there are still four equity brokers, namely Southwest Securities (600369), CITIC Construction Investment, UBS Securities, Qilu Securities.
Only one of the above four brokerages held by CCB Investment-Qilu Securities broke the news that CCB Investment wanted to withdraw in 2009, and there will be no more details thereafter.
On August 24th, a person close to the top of Qilu Securities was informed that CCB Investment had determined to withdraw from Qilu Securities. "At present, it is in talks with the Shandong Provincial Government and should exit in a market-oriented manner. Optimistic estimate, 2010 At the end of the year, CCB Investment will complete the withdrawal of Qilu Securities. "
"Abandon" CICC
CCB Investment transferred 43.35% of the shares of CICC to its controlling shareholder, Central Huijin. At this point, CICC became the second securities firm that was abandoned by CCB after the CIC Securities.
In fact, since the clear implementation of the one-parameter one-control strategy in April 2008, and because of the large number of brokers involved and huge assets, CCB Investment was soon regarded by the market as the most direct subject subject to this policy.
Prior to the transfer of equity in CICC, CCB Investment transferred all the equity of CIC Securities wholly-owned to Huijin in 2009.
"Since Huijin still has more than three years of exemption period, CCB Investment will transfer its unlisted brokerage equity to Huijin Company, and it will first win enough integration time for these unlisted brokers. More importantly, short This will not have too much impact on the operations and management teams of these companies within a period of time. "A well-known securities industry analyst said that as a result, Huijin will have greater pressure and the integration will be more urgent.
In addition, the change in equity of CICC is not limited to major shareholders. Morgan Stanley, which holds a 34.3% stake in CICC, is still in the process of withdrawing from CICC. The successor is still foreign-funded and is still waiting for approval from the regulatory authorities.
"Building Bank" can meet the standard
"Construction Bank" brokerages started in 2004, and the unprecedented comprehensive management action of brokerages was fully launched. As a wholly-owned subsidiary of Huijin, CCB Investment was given the staged mission of the brokerage restructuring platform.
From 2007 to the end, CCB Investment, through the rescue of a number of large local brokers, wholly owned CIC Securities (from the reorganization of the former Southern Securities), once held Southwest Securities, CICC, Hongyuan Securities, and participated in the Swiss Bank Securities, Qilu Securities and CITIC Construction Investment Securities (from the reorganization of the original Huaxia Securities), CCB Investment eventually became a large securities industry platform holding 4 brokerages and participating in 3 brokerages.
Subsequently, the "one reference, one control" regulation of the securities industry was introduced in April 2008. For the "built bank" of "brilliant foliage", it is tantamount to "a thunderbolt on a sunny day". Subsequently, CCB Investment began a series of actions.
In 2008, CCB Investment transferred 41.03% of its equity in Southwest Securities to Chongqing Yufu, giving up its controlling shareholder status.
In 2009, CCB Investment announced that it would transfer the wholly-owned equity of CIC Securities to Huijin.
"In addition to CIC Securities, the shares of Qilu Securities, UBS Securities, CITIC Construction Investment Securities and CICC held by CCB Investment will also be transferred to Huijin. In the future, CCB Investment will only retain two A listed securities firm-the equity of Hongyuan Securities and Southwest Securities. "Previously, people familiar with the matter have disclosed to them.
The transfer of equity of CICC, after CIC Securities, once again confirmed the above-mentioned person's statement.
However, the facts and assumptions are slightly different. The transfer of equity in Qilu Securities has not been implemented as planned.
According to the agreement signed when investing in Qilu Securities, CCB Investment should have withdrawn from Qilu Securities before the end of 2009, "but in 2009, CCB Investment wanted to transfer the shares of Qilu Securities it held to Huijin Company and apply for the CSRC Will be rejected. "
On August 24, senior people close to Qilu Securities revealed that at present, CCB Investment is negotiating with the Shandong Provincial Government, and the shares held by Qilu Securities may be transferred in a market-oriented manner, and the takeover party will not be Huijin.
"In any case, with regard to CCB Investment's withdrawal from Qilu Securities, the relevant parties have reached a consensus and optimistically estimate that the equity transfer will be completed before the end of 2010." The source further said.
So far, after transferring the equity of CICC, at present, CCB Investment Holdings Hongyuan Securities, which accounts for 66.06% of its equity, participates in UBS Securities, CITIC Construction Investment, Qilu Securities, Southwest Securities, and holds 14.01% and 40% of its shares. , 18.08%, 8.63% equity.
On the way of “one reference and one control†reaching the standard, the equity of three securities firms of the “CCB Bank†has to be cleared.
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