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CICC Gets China's Green Light to Absorb Dongxing, Cinda Securities
US Markets

CICC Gets China's Green Light to Absorb Dongxing, Cinda Securities

China International Capital or CICC (SHA:601995, HKG:3908) has secured regulatory approval for its proposed mergers with Dongxing Securities (SHA:601198) and Cinda Securities (SHA:601059), clearing a key hurdle in the creation of a combined financial powerhouse with over 1 trillion yuan in assets.The China Securities Regulatory Commission approved and registered the proposed mergers, CICC said in a Monday Hong Kong bourse filing.First announced in November 2025, the consolidation alights with Beijing's broader push to streamline the securities sector. The government has actively encouraged mergers among state-backed brokerages to build large investment banks.The approval covers changes in the major shareholders of CICC, Dongxing Fund Management and Cinda Fund Management, as well as the controlling shareholders of Dongxing Futures and Cinda Futures.CICC said the approval and registration requirements under the merger agreement have now been satisfied.Under the share-swap terms, CICC will issue 0.4373 A share for each Dongxing A share and 0.5188 A share for each Cinda A share. Subject to the relevant conditions, CICC expects to issue about 3.10 billion new A shares in total.Following completion, CICC's total issued share capital is expected to rise to about 7.92 billion shares, with A shares accounting for roughly 76% and H shares about 24%.The proposed mergers, first announced in November 2025, will dissolve Dongxing and Cinda as independent entities and consolidate their operations under CICC.Dongxing warned of the potential delisting of its A shares following the absorption merger. It will apply for voluntary termination of its Shanghai listing after the cash option rights period closes.The merger remains subject to the completion of the relevant conditions, with CICC set to suspend trading of its Shanghai-listed shares from Sept. 15. The resumption date has yet to be announced.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

Update: China Approves CICC's Proposed Mergers With Dongxing, Cinda Securities

(Updates to add CICC's Shanghai ticker)China International Capital Corp. or CICC (SHA:601995, HKG:3908) has received approval and registration from the China Securities Regulatory Commission for its proposed mergers with Dongxing Securities (SHA:601198) and Cinda Securities (SHA:601059), according to a Monday Hong Kong bourse filing.The CSRC approval also covers changes in the major shareholders of CICC, Dongxing Fund Management and Cinda Fund Management, as well as changes in the controlling shareholders of Dongxing Futures and Cinda Futures.CICC said the approval and registration requirements under the merger agreement have now been satisfied.Under the agreement, CICC will issue A shares to Dongxing and Cinda shareholders at exchange ratios of 0.4373 A share for each Dongxing A share and 0.5188 A share for each Cinda A share.Subject to the relevant conditions, CICC expects to issue about 3.10 billion new A shares in total.Following completion, CICC's total issued share capital is expected to increase to about 7.92 billion shares, with A shares accounting for roughly 76% and H shares about 24%.The proposed share-swap mergers were first announced in November 2025.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

Dongxing Securities Flags Delisting Risk Amid CICC Merger

Dongxing Securities (SHA:601198) warned of the potential delisting of its A-shares following China International Capital Corp. (SHA:601995, HKG:3908) or CICC's planned absorption merger, which has secured both shareholder and China Securities Regulatory Commission approval.The merger will dissolve Dongxing Securities and Cinda Securities (SHA:601059) as independent entities, according to a Monday aftermarket filing with the Shanghai Stock Exchange.The company will apply for voluntary termination of listing with the Shanghai bourse immediately after the cash option rights period closes.Dongxing's shares fell nearly 2% in recent trade.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

China Approves CICC's Proposed Mergers With Dongxing, Cinda Securities

China International Capital Corp. or CICC (HKG:3908) has received approval and registration from the China Securities Regulatory Commission for its proposed mergers with Dongxing Securities (SHA:601198) and Cinda Securities (SHA:601059), according to a Monday Hong Kong bourse filing.The CSRC approval also covers changes in the major shareholders of CICC, Dongxing Fund Management and Cinda Fund Management, as well as changes in the controlling shareholders of Dongxing Futures and Cinda Futures.CICC said that the approval and registration requirements under the merger agreement have now been satisfied.Under the agreement, CICC will issue A shares to Dongxing and Cinda shareholders at exchange ratios of 0.4373 A share for each Dongxing A share and 0.5188 A share for each Cinda A share.Subject to the relevant conditions, CICC expects to issue about 3.10 billion new A shares in total.Following completion, CICC's total issued share capital is expected to increase to about 7.92 billion shares, with A shares accounting for roughly 76% and H shares about 24%.The proposed share-swap mergers were first announced in November 2025.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

CICC's H1 Attributable Profit Soars; Revenue Climbs

China International Capital (SHA:601995, HKG:3908), or CICC, reported 8.2 billion yuan in profit attributable to shareholders for the first half, compared with 4.33 billion yuan a year ago, a Friday bourse filing showed.Basic EPS moved to 1.621 yuan from 0.814 yuan year over year.For the six months ended June 30, revenue was 26.4 billion yuan, versus 18.4 billion yuan previously, the financial services provider said.

HKG:3908SHA:601995
Asia

CICC Proposes Absorption of Dongxing Securities, Cinda Securities

China International Capital (SHA:601995, HKG:3908) proposes a share swap merger to absorb Dongxing Securities (SHA:601198) and Cinda Securities (SHA:601059).The deal aims to create a financial powerhouse with enhanced global competitiveness, leveraging synergies in investment banking, research, wealth management and cross-border finance, according to a Tuesday aftermarket filing with the Shanghai bourse.The transaction is subject to investigation by judicial authorities or the China Securities Regulatory Commission.Shares of CICC were down 1% in recent trade on the Shanghai and Hong Kong bourses.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

Market Chatter: CICC Sees Strong China Outbound Investment Demand Despite Beijing Crackdown

CICC (SHA:601995, HKG:3908) said the demand for cross-border investments from mainland China clients remained "robust" despite Beijing's recent tightening of overseas portfolio rules, including new taxes on offshore trusts, The South China Morning Post reported Friday.Qiao Bo, managing director at the financial services provider, said global diversification remains essential to lower portfolio volatility, according to the report.CICC projects double-digit annual growth in asset management, backed by Chinese managers shifting to "globalized operations" in Hong Kong, the SCMP wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:3908SHA:601995
Asia

Market Chatter: AgiBot Eyes Hong Kong IPO With CITIC, CICC, Morgan Stanley as Sponsors

Chinese robotics firm AgiBot is advancing toward a Hong Kong public listing, having secured CITIC Securities (HKG:6030, SHA:600030), CICC (SHA:601995, HKG:3908), and Morgan Stanley as joint sponsors for the offering, South China Morning Post reported Wednesday, citing two people familiar with the matter.The Shanghai-based company signaled its listing ambitions last year when it reorganized into a joint-stock entity, a standard prerequisite for going public, the news agency said.In October, Reuters reported that AgiBot was targeting a valuation of HK$40 billion to HK$50 billion.Agibot, CITIC Securities, CICC and Morgan Stanley did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:6030SHA:600030SHA:601995
Asia

CICC Wealth Unit Posts H1 Net Profit of 2.39 Billion Yuan

China International Capital (SHA:601995, HKG:3908), or CICC, subsidiary CICC Wealth reported first-half net profit of 2.39 billion yuan.The wealth subsidiary achieved operating revenue of 6.14 billion yuan during the period, according to a weekend filing with the Shanghai bourse.Shares of the financial services provider rose 2% in recent trade on the Shanghai and Hong Kong bourses.

HKG:3908SHA:601995
Asia

CXMT Prices Shanghai IPO to Raise 57.9 Billion Yuan

ChangXin Memory Technologies (SHA:688825) has priced its initial public offering on the Shanghai Stock Exchange's STAR Market board, seeking to raise up to 57.9 billion yuan, according to a bourse filing on Wednesday.The Chinese chipmaker will offer 6.69 billion shares priced at 8.66 yuan apiece before any overallotment option. The shares represent 10% of the company's total share capital post-issuance.At that size, the company is poised to stage the biggest IPO in Asia so far this year and the largest Chinese A-Share semiconductor IPO to date, according to Reuters.An overallotment option of up to 15% has been granted to China International Capital (HKG:3908, SHA:601995). If fully exercised, the total number of issued shares will increase to 7.69 billion shares, representing 11.3% of the expanded share capital.

HKG:3908SHA:601995SHA:688825
Asia

CICC Forecasts Up to 90% Boost in Half-Year Profit

China International Capital (HKG:3908, SHA:601995) expects attributable profit of between 7.71 billion yuan and 8.23 billion yuan for the first half of 2026, up 78% to 90% from a year prior.The financial services provider attributed the forecast to a focus on the advancement of capital market reform, long-term strategic orientation, and a diversified portfolio; as well as growth in the international business among other factors, according to a Wednesday Hong Kong bourse filing.

HKG:3908SHA:601995
Asia

Beijing Huafeng Test & Control Technology Raises Nearly 750 Million Yuan from Convertible Bond Issuance

Beijing Huafeng Test & Control Technology (SHA:688200) raised 749.5 million yuan from the issuance of convertible bonds, according to a Monday filing with the Shanghai bourse.The company raised 510.6 million yuan from the issuance of 510,583 lots to existing shareholders, and 235.9 million yuan from the issue of 235,875 lots to online subscribers.

HKG:3908SHA:601995SHA:688200
Asia

Fitch Maintains Dongxing Securities' Long-Term Issuer Default Rating on Positive Watch

Fitch Ratings maintained Dongxing Securities' (SHA:601198) long-term issuer default rating of BBB- on rating watch positive following a takeover proposal by China International Capital Corp. (HKG:3908, SHA:601995)The ratings reflect Fitch's expectation of support from Dongxing parent, China Orient Asset Management, as well as the merger being positive for Dongxing's credit profile.A consolidation of state ownership will help enhance Dongxing's operating scale and product capabilities, Fitch said.The debt watcher will resolve the rating watch positive on Dongxing upon regulatory approval.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

Fitch Upgrades CICC, Unit to A- With Stable Outlook

Fitch Ratings upgraded China International Capital Corporation's (HKG:3908, SHA:601995) long-term issuer default rating to A- from BBB+, with a stable outlook.The agency also upgraded the same rating for its wholly owned subsidiary, China International Capital Corporation (International), to A- from BBB+.The ratings agency said the upgrade reflects CICC's strengthened strategic role in supporting China's capital market reforms and financial stability, underpinned by an extremely high probability of extraordinary support from the largest shareholder, Central Huijin Investment.Fitch also cited CICC's leading investment banking franchise, expanding international footprint, improving earnings, adequate capital position, and strong liquidity as key credit strengths.The stable outlook reflects Fitch's expectation that CICC will continue to benefit from strong shareholder support while maintaining its strategic importance to China's financial system.

HKG:3908SHA:601995
Asia

Wens Foodstuff Signs Four-Party Supervision Deal for Raised Funds' Special Accounts

Wens Foodstuff (SHE:300498) entered into a four-party supervision with Xinxing County Sub-branch of Agricultural Bank of China and China International Capital (HKG:3908, SHA:601995) for special accounts for raised funds, according to a Shenzhen bourse filing on Wednesday.The livestock company's shares fell 2% during Thursday's morning trade.The special accounts will be for 245 million yuan, which will be used for the construction of the Danwei Breeding Community Project and the Daitang High-Efficiency Breeder Chicken Farm Project.The funds were part of the 9.23 billion yuan in proceeds raised from the issuance of convertible bonds.

HKG:3908SHA:601995SHE:300498
Asia

CICC's Dongxing, Cinda Share-Swap Mergers Accepted for Bourse Review

China International Capital (HKG:3908, SHA:601995) said the Shanghai Stock Exchange accepted its merger agreement to absorb Dongxing Securities (SHA:601198) and Cinda Securities (SHA:601059) for review, according to a Monday filing with the Hong Kong bourse.The firm is acquiring the businesses through a share-for-share exchange.Dongxing and Cinda will be absorbed and deregistered, with all assets, liabilities, and operations transferred to the enlarged group.The proposed share-swap mergers were first announced in November.

HKG:3908SHA:601059SHA:601198SHA:601995
Asia

CICC Reviews Bio-Thera Solutions' Proposed Forex Hedging Activities

China International Capital (HKG:3908, SHA:601995) conducted a review into Bio-Thera Solutions' (SHA:688177) proposed foreign exchange hedging activities, according to a Shanghai bourse filing on Friday.The financial services provider said it has no objection to the proposal, which is found that are intended to improve Bio-Thera's ability to manage foreign exchange risks.

HKG:3908SHA:601995SHA:688177
Asia

China International Capital's Profit Jumps 75% in Q1

China International Capital (HKG:3908, SHA:601995) posted profit attributable to shareholders of 3.58 billion yuan for the first quarter, up 75% from 2.04 billion yuan a year earlier, according to a Wednesday Hong Kong bourse filing.Hong Kong-listed shares of the investment bank were down 2% in Thursday afternoon trade.Earnings per share came in at 0.703 yuan, compared with 0.382 yuan a year earlier.Operating revenue rose 54% to 8.8 billion yuan from 5.7 billion yuan in the prior-year period.

HKG:3908SHA:601995
Asia

Shandong Chunguang Technology Group Launches Shenzhen IPO

Shandong Chunguang Technology Group (SHE:301531) launched its initial public offering on the Shenzhen bourse, seeking to offer up to 54.9 million shares, according to a prospectus filed Thursday.The magnetic materials and electronic information technology company's IPO shares will constitute 25% of the company's entire shareholding following the offer.Upon completion of the IPO, Chunguang's share capital will rise to 219.7 million shares.China International Capital Corp. (HKG:3908, SHA:601995) is the sponsor and lead underwriter of the offering.

HKG:3908SHA:601995SHE:301531
Asia

China International Capital Forecasts Up to 90% Higher Profit in Q1

China International Capital's (SHA:601995, HKG:3908) expects an attributable profit of between 3.37 billion yuan and 3.88 billion yuan in the first quarter of 2026, up 65% to 90% from 2.04 billion yuan a year prior, according to a Wednesday Hong Kong bourse filing.The firm attributed the forecast to seizing favorable opportunities, rising trading activity, steady development, and business development among other factors.

HKG:3908SHA:601995

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