Source: Broker China
On November 14, Hong Kong stocks and Chinese brokerage stocks fluctuated and increased during the intraday period. China Financial Corporation rose more than 4%, China Galaxy rose more than 3%, CITIC Securities and Guolian Securities rose more than 2%, and GF Securities followed suit.
On the evening of November 3, the Securities Regulatory Commission made it clear that it will support leading securities companies to become better and stronger through business innovation, group management, mergers, acquisitions and restructuring, etc., to build first-class investment banks, play an important role in serving the real economy and maintaining the ballast stone of financial stability; promote collaboration between investment, investment, investment and research of securities companies; continuously improve the ability to serve the real economy and service registration system; and help build a diversified relay financial service system for physical enterprises.
This is December 2019, the second time in 4 years that the Securities Regulatory Commission has mentioned expanding and strengthening the securities industry through mergers, acquisitions and restructuring. At the time, there was also quite a wave of brokerage stock market activity.
Until now, the market had always anticipated restructuring of several brokerage firms in the Central Huijin Department. However, yesterday morning, CICC issued a clarifying announcement stating that it has recently been concerned about market rumors that the company will merge and restructure with Galaxy Securities. In order to avoid misleading all sectors of society and investors, it is now providing clarification.
CICC said that as of the disclosure date of the announcement, the company had not received any written or oral information from government departments, regulators, or company shareholders about the above rumor. As confirmed by the company and the controlling shareholder Central Huijin Investment Co., Ltd., the controlling shareholder did not plan the above rumors or other important matters that should be disclosed but not disclosed, nor did the company have any information that should be disclosed but not disclosed.
Meanwhile, Galaxy Securities also issued a clarification announcement. Galaxy Securities said that recently, the company is concerned about market rumors that the company will merge and restructure with CICC, and is now providing clarification. As of the disclosure date of the announcement, the company has not received any written or oral information from government departments, regulators, or controlling shareholders or actual controllers of the company regarding the above rumor. As confirmed by the company, the controlling shareholder China Galaxy Financial Holdings Co., Ltd. and the actual controller, Central Huijin Investment Co., Ltd., the actual controller, the controlling shareholder and actual controller did not plan the above rumours or other important matters that should be disclosed but not disclosed, nor did the company have any information that should be disclosed but not disclosed.