**: Brokerage China.
Following the March of this year, Wuxi Guolian Development (Group) ** referred to as "Guolian Group") in more than 300,000 people watched, and invested 9.1 billion yuan to win the people's livelihood **30After 30% equity, after 9 months, this major event in the securities industry that the industry is concerned about has finally ushered in new progress.
On December 15, the China Securities Regulatory Commission (CSRC) showed that the application for a change of major shareholders of Minsheng had been approved by the CSRC. As a result, Guolian Group will officially become the largest shareholder of Minsheng. In addition, the China Securities Regulatory Commission requires Minsheng ** to work with Guolian ** and Guolian Group to promote the integration of Minsheng ** and Guolian ** in a steady and orderly manner in accordance with the preliminary integration plan submitted earlier.
On the same night, Guolian** also issued an announcement saying that the controlling shareholder was approved to become the main shareholder of Minsheng**, and the specific integration of Guolian** and Minsheng** still needs to be communicated with relevant parties, and the relevant work has not yet been carried out.
Guolian Group responded to the **Times Brokerage China reporter that in the next stage, Guolian Group will thoroughly implement the spirit of the ** Financial Work Conference, and promote the integration of people's livelihood and Guolian in a steady and orderly manner in accordance with the approval requirements of the China Securities Regulatory Commission. Always adhere to the market-oriented mechanism and development direction, give full play to the advantages of state-owned shareholders' resources, people's livelihood business characteristics and human resources, and achieve the goal of "1+1>2". We will continue to improve our comprehensive financial service capabilities, do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance, accelerate the construction of a first-class local comprehensive state-owned enterprise group in China, and make greater contributions to the modernization of "strong, rich, beautiful and high" new Wuxi.
Minsheng** was approved to change its major shareholder
On December 15, the China Securities Regulatory Commission (CSRC) approved Wuxi Guolian Development (Group) (hereinafter referred to as "Guolian Group") to become a major shareholder of Minsheng, and Guolian Group was transferred to Minsheng in accordance with the law7.1 billion shares (30.1 billion shares of the company.)30%).
The China Securities Regulatory Commission also requires that Minsheng should do a good job of risk isolation with Guolian**, strictly regulate related party transactions, and strictly prevent conflicts of interest and transmission risks. Minsheng shall, in conjunction with the League of Nations and the League of Nations Group, promote the integration of Minsheng and the League of Nations in a steady and orderly manner in accordance with the direction and timetable determined by the preliminary integration plan submitted to the China Securities Regulatory Commission.
On March 15 this year, under the watchful eye of more than 300,000 people, Guolian Group won the Minsheng **34. held by Oceanwide Holdings through judicial auction7.1 billion shares, accounting for 30% of the total share capital30%, with a turnover of about 9.1 billion yuan.
With the approval of the regulator for the change of the main shareholders of Minsheng **, Guolian Group has officially become the largest shareholder of Minsheng **. According to public information, Guolian Group was established in 1999 and is a pilot enterprise for state-owned capital investment, operation and authorized operation funded by Wuxi City. As of the end of 2022, its total assets are 182 billion yuan, its net assets are 51.3 billion yuan, and its financial institutions include Guolian**, Guolian Life, Guolian Trust, Guolian**, etc.
Minsheng**, registered in Shanghai, was originally a holding subsidiary of Oceanwide Holdings, and will no longer be included in the scope of consolidation of Oceanwide Holdings from August 2021. As an unlisted securities firm, Minsheng's shareholding structure is relatively scattered. When Minsheng relocated to Shanghai in 2020, it strategically introduced a number of state-owned enterprises under Shanghai and districts, forming a diversified equity governance structure of "private major shareholders + state-owned strategic investors + employee shareholding".
According to the 2022 annual report of Minsheng**, as of the end of 2022, the company had as many as 46 shareholders, of which the second largest shareholder held 1349%, and the third largest shareholder holds only 487%。
In terms of the number of employees, according to the annual report data, as of the end of 2022, Minsheng** and its main subsidiaries had a total of 3,048 employees, while the number of employees in Guolian** and its main subsidiaries was 2,693.
For the future business integration, the industry is more optimistic that the strong investment banking strength of Minsheng can complement the advantages of Guolian, and is expected to build a first-class investment bank. The reporter learned from the Guolian Group that the investment of the Guolian Group in people's livelihood is not only an important measure to implement the integrated development strategy of the Yangtze River Delta, but also an effective way to give full play to the financial support function to serve local development. At the same time, the acquisition of Minsheng's equity is also an innovative means to seek its own excellence and strength - Minsheng and Guolian Group, investment and other businesses are highly complementary, through resource integration and business synergy, it is expected to promote complementary advantages and achieve leapfrog development.
The prelude to mergers and acquisitions in the securities industry officially kicked off
Following the 2019 China Securities Regulatory Commission's proposal to promote the construction of aircraft carrier brokers, the regulator has once again spoken intensively recently to encourage brokerages to become bigger and stronger.
The first financial work conference held at the end of October this year proposed for the first time to "cultivate first-class investment banks and investment institutions". Subsequently, the Party Committee of the China Securities Regulatory Commission conveyed the spirit of the Xi to implement the spirit of the first financial work conference, saying that "it is necessary to strengthen the internal governance of industry institutions, return to the origin, develop steadily, and accelerate the cultivation of first-class investment banks and investment institutions".
On November 3, the China Securities Regulatory Commission (CSRC) once again issued a statement, saying that it would support leading securities firms to become better and stronger through business innovation, group operation, mergers and acquisitions, etc., to build a first-class investment bank, and play an important role in serving the main force of the real economy and maintaining the ballast stone of financial stability. At the same time, the China Securities Regulatory Commission also solicited public opinions on the revision of the "Provisions on the Calculation Standards of ** Company Risk Control Indicators", which is reported to be conducive to supporting high-quality securities companies with compliance and stability to appropriately expand capital space, improve capital use efficiency, and become better and stronger.
In recent years, interbank mergers and acquisitions have been one of the development directions of the industry encouraged by regulators, but in recent years, there have not been many cases of industry mergers and acquisitions, and interbank mergers and acquisitions are facing practical challenges such as shareholders' willingness, integration difficulty and competition. The Sino-Thai ** non-bank team previously said.
However, recent mergers and acquisitions in the securities industry have accelerated significantly.
Just a few days ago, Zhejiang businessmen launched the acquisition of Guodu**'s equity. On the evening of December 8, Zheshang announced that it intends to transfer 5 companies, including Chongqing International Trust, with a total of 1915% of the equity of Guodu, surpassing China Chengxin Trust to become the largest shareholder of Guodu. Zheshang ** said that the merger and acquisition is in line with the company's strategic plan, which is conducive to optimizing resource allocation, strengthening resource integration, giving full play to the synergy between existing business advantages and Guodu ** business, and enhancing competitiveness.
In addition, "Huachuang + Pacific" and "Ping An + Founder" and other first-class mergers and acquisitions have also attracted attention from the industry. Among them, "Huachuang + Pacific" has made progress recently, on the evening of September 21, Pacific** and Huachuang Yunxin both announced that the China Securities Regulatory Commission accepted the administrative license application for the change of major shareholders or actual controllers of the company.
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