Expectations for the restructuring of the securities industry are heating up again, and a new case has been implemented recently. On December 8, Zheshang Securities Co., Ltd. issued an announcement on the signing of the “Guodu Securities Co., Ltd. Share Transfer Framework Agreement” and planned to transfer the shares of Guodu Securities held by five companies in cash, totaling approximately 19%. .
The announcement shows that Zheshang Securities separately entered into cooperation with Chongqing International Trust Co., Ltd., Tianjin Chongxin Technology Development Co., Ltd., Chongqing Jiahong Shengxin Trading Co., Ltd., Shenzhen Yuanwei Investment Co., Ltd., and Shenzhen Zhongjun Investment Co., Ltd. on December 8. After signing the “Share Transfer Framework Agreement of Guodu Securities Co., Ltd.”, the company plans to transfer 5.2820%, 4.7170%, 3.7736%, 3.3089%, and 2.0639% of the shares of the target company held by the above five companies respectively in cash. The final transfer ratio The transaction plan shall be subject to the officially signed final transaction documents. In total, Zheshang Securities intends to transfer approximately 19.1454% of the equity of Guodu Securities.
Regarding the purpose of this transaction and its impact on the company, Zheshang Securities stated that the signing of the transaction framework agreement is in line with the company’s strategic plan and will help the company optimize resource allocation, strengthen resource integration, and leverage the company’s existing business advantages and Guodu Securities business The synergy effect enhances the company’s competitiveness without harming the interests of the company and shareholders.
Public information shows that Zheshang Securities is a state-owned listed securities company in Zhejiang Province, established in 2002. Currently, the controlling shareholder of Zheshang Securities is Zhejiang Shangsan Expressway Co., Ltd., with a shareholding ratio of 54.79%; followed by Taizhou Financial Investment Group Co., Ltd. and Xizi United Holdings Co., Ltd. hold 2.93% and 1.77% respectively. The actual controller of the company is Zhejiang Communications Investment Group Co., Ltd.
In terms of performance, the latest three quarterly reports disclosed by Zheshang Securities show that in the first three quarters, the company achieved operating income of 12.622 billion yuan, a year-on-year increase of 8.96%; net profit attributable to shareholders of listed companies was 1.330 billion yuan, a year-on-year increase of 15.05% . In the third quarter, Zheshang Securities achieved operating income of 4.166 billion yuan, a year-on-year increase of 1.11%; net profit attributable to shareholders of listed companies was 419 million yuan, a year-on-year decrease of 2.31%.
As for the acquiree Guodu Securities, according to public information, Guodu Securities was established in December 2001. On March 31, 2017, the company was listed on the New Third Board. The latest financial data from Guodu Securities shows that in the first half of this year, the company achieved a total operating income of 832 million yuan, a year-on-year increase of 50.16%; a total net profit attributable to the parent company was 428 million yuan, a year-on-year increase of 90.30%.
Recently, under the policy guidance of regulatory authorities to support leading securities companies in becoming better and stronger, mergers and acquisitions and restructuring of securities companies have become popular again. Previously, expected mergers and acquisitions by institutions such as CITIC Securities and China Galaxy Securities attracted market attention. On November 13, China Galaxy and CICC jointly issued a clarification announcement on mergers and acquisitions. Some investors also asked brokers with merger expectations on the interactive platform about the progress. CITIC Securities, China Merchants Securities, China International Finance Securities and other securities firms responded to the rumors and stated that there was no information that should be disclosed but has not been disclosed.