China** newspaper reporter Fang Li, Lu Huijing, Wanlian** launched a march to the public offering license! According to the China Securities Regulatory Commission, on February 29, Wanlian officially submitted an application for the establishment of a public offering management company, and the application is currently in the state of receiving materials. As early as July 17 last year, Wanlian ** submitted relevant applications for pre-communication. While applying for the establishment of a public offering management company, Wanlian is also actively building a public offering team to recruit talents in compliance risk control and operation management. Under the new regulations of "one participation, one control, one license", the enthusiasm of securities firms for public offering licenses continues to rise. A number of industry insiders said that the public offering business has become an important breakthrough in the asset management business of securities companies, and with the encouragement of policies, applying for a public offering license is expected to open up incremental space for future business development. Wanlian ** applied for the establishment of a public offering ** companyThere are also securities firms seeking public offering licenses. According to the latest disclosure of the China Securities Regulatory Commission, on February 29, Wanlian officially submitted an application for the establishment of a public offering management company, and the application was accepted by the China Securities Regulatory Commission on March 1. In fact, as early as July last year, Wanlian ** also submitted an application for the establishment of a public offering ** company, but it was a pre-communication at that time. 
According to public information, Wanlian ** is a wholly-owned state-owned ** company in Guangzhou, which was established on August 23, 2001 with the approval of the China Securities Regulatory Commission, with an existing registered capital of 595.4 billion yuan. In terms of shareholding structure, Guangzhou Financial Holding Group holds 49 Wanlian10% equity, its largest shareholder; Guangzhou Guangyong State-owned Assets Management *** Guangzhou Development District Investment Group *** Guangzhou International Trust and Investment Company and other three shareholders respectively held. 71% equity. In February last year, Wanlian **'s asset management subsidiary, Wanlian ** Asset Management, was officially established. If Wanlian**'s application can be successfully approved, it will become Wanlian**'s second asset management license. It is understood that Wanlian ** will achieve operating income of 12 in the first three quarters of 20231.3 billion yuan, a year-on-year increase of 39%; Net profit was 37.1 billion yuan, a year-on-year increase of 105%. Wanlian ** once said that the company's four major business lines implement the work policy of "strengthening wealth, optimizing self-management, expanding asset management, and doing fine investment banking", and wealth and self-operated business have played the role of ballast and stabilizer. Among them, the wealth business achieved operating income of 64.2 billion yuan, the number of customers reached a record high; Self-operated business achieved revenue51.5 billion yuan, a year-on-year increase of 868%. Actively recruit troopsThe action is constantWhen preparing for the public offering business and waiting for regulatory approval, Wanlian**'s recruitment has begun. According to a recruitment information, Wanlian is currently recruiting for open recruitment, and is currently recruiting for positions such as operation management and compliance risk control. 
Previously, Wanlian ** had openly recruited the position of general manager of the company, and put forward 5 clear conditions for this position, of which the basic requirements include: bachelor's degree or above, finance, economics, accounting, law and other related majors; Familiar with the laws and regulations and the regulations of the China Securities Regulatory Commission. According to the announcement at that time, the general manager candidate needs to have more than 5 years of public offering management experience or asset management experience, and should meet one of the following conditions: serve as deputy general manager or above of a public offering management company for 2 years; Served as the head of the department of large and medium-sized (top 1 3 in the industry in the asset management industry) public offering ** management company for 4 years; Served as the deputy general manager or above in charge of asset management business of ** company for at least 2 years or the head of the public offering department for at least 2 years; Served as deputy general manager or above of ** asset management subsidiary for at least 2 years; He has served as the deputy general manager or above in charge of public offering business of an insurance asset management company for at least 4 years or the head of the public offering department for at least 4 years. Not only that, Wanlian ** has also made frequent moves recently. It is reported that at the end of last year, the company announced a public solicitation of investors, and planned to increase its capital by no more than 6 billion yuan, of which the controlling shareholder Guangzhou Financial Holding planned to contribute no less than 2 billion yuan. According to the information of the capital increase project, Wanlian will be guided by its own strategic planning, unified management and allocation of expanded capital, expand business scale, supplement the company's working capital, optimize the business structure, and improve the company's market competitiveness and anti-risk ability. As the only municipal state-owned securities firm in Guangzhou, Zhang Yifeng, president of Wanlian, previously said that Wanlian is implementing the "345" development strategy, striving to increase capital by 6 billion yuan, restart IPO, and achieve listing and capital increase in 2025, and finally realize the ideal blueprint of "building a first-class Class A listed securities company in the Bay Area". A number of securities firms have accelerated their entry into the public offering marketUnder the new regulations of "one participation, one control, one license", the enthusiasm of securities firms for public offering licenses continues to rise. There are three ways for securities firms to obtain public offering licenses: one is to directly apply for the establishment of a public offering company; the second is to apply for the qualification of public offering management business through the asset management subsidiary; The third is to seek control of the company. Among the brokerages that adopt the first model, in addition to Wanlian** applying for a public offering ** company license, Zhongyuan ** reported the materials of "Approval for the Establishment of a Public Offering ** Management Company" was accepted, and the application was for Zhongyuan Soho ** Management *** It is reported that Zhongyuan Soho ** was jointly established by Zhongyuan ** and Jiangsu Soho Investment Group***, of which Zhongyuan ** contributed 1600 million yuan, with a capital contribution ratio of 80%. At the end of 2022, Caixin** submitted the application materials for the establishment of a public offering ** company - Caixin** Management***, and on July 21, 2023, Caixin**'s application for the establishment received feedback from the CSRC. Judging from the opinions, the China Securities Regulatory Commission (CSRC) has raised inquiries about the proposed financial credit from many aspects, such as whether it has the business ability to operate public REITs, whether the proposed chairman and legal person, general manager, and chief inspector can be competent, and the financial status of the controlling shareholder. Applying for a public offering license through the establishment of an asset management subsidiary has also become the mainstream choice of many securities firms. Wind data shows that at present, there are a total of 12 securities firms and securities asset management companies that have obtained public offering qualifications. 
In addition to applying for public offering licenses through its asset management subsidiaries, a number of securities firms have also sought controlling stakes by increasing the shareholding ratio of ** companies that have participated in the shares. Industry insiders said that the public offering license is of great significance to enrich the wealth management business of brokerages. Securities firms entering the public offering industry have certain advantages in terms of customers, channels and asset management experience, and obtaining a public offering license can expand the possibility of diversification of securities firms' business. However, this also puts forward higher requirements for brokers' product development capabilities, investment research capabilities, and customer service capabilities. Only by continuing to deepen professional asset management capabilities, do a good job in self-positioning, take a differentiated development route, and build their own core competitiveness, can we gain a larger market share. Editor: Captain Review: Xu Wen.