【导读】中金公司（601995）官宣合并信达证券（601059）、东兴证券（601198） 汇金系券商大整合迈出第一步！ 11月19日晚间，中金公司、东兴证券、信达证券发布《关于筹划重大资产重组的停牌公告》，三家公司正在筹划由中金公司通过向东兴证券和信达证券全 体A股换股股东发行A股股票的方式换股吸收合并东兴证券、信达证券。 这意味着，中央汇金旗下券商将减至6家，分别是中金公司、中国银河（601881）证券、中信建投（601066）、申万宏源、光大证券以及长城国瑞证券。 三家券商明日起停牌 中金公司公告称，公司A股股票将于2025年11月20日（星期四）开市时起开始停牌。本次重组涉及到A+H股两地上市公司同时吸收合并两家A股上市公 司，涉及事项较多、流程较为复杂，根据上海证券交易所的相关规定，预计停牌时间不超过25个交易日。 | 证券代码 证券简称 停复牌类型 | 停牌起始日 停牌期间 停牌终止日 复牌日 | | --- | --- | | ୧01995 中金公司 A 股 停牌 | 2025/11/20 | 信达证券、东兴证券亦公告称，公司A股股票将于2025年11月20日（星期四）开市时起开始停牌，预计停牌 ...

智通财经APP讯，中毅达(600610.SH)公告，中金公司拟换股吸收合并信达证券。截至本公告出具日， 信达证券-兴业银行-信达兴融4号集合资产管理计划直接持有公司2.6亿股股票(占公司截至本公告出具日 总股本的24.27%)，为公司的控股股东;信达证券作为资管计划的管理人，代为行使实际控制人权利，系 公司的实际控制人。 ...

Core Viewpoint - The article discusses the merger and acquisition activities among major securities firms in China, specifically focusing on the restructuring involving China International Capital Corporation (CICC), Dongxing Securities, and Xinda Securities, which marks a significant step in the integration of Central Huijin's securities firms [1][5]. Group 1: Merger and Acquisition Details - On November 19, CICC, Dongxing Securities, and Xinda Securities announced a major asset restructuring plan, involving a share swap where CICC will issue A-shares to the shareholders of both Dongxing and Xinda [2]. - The restructuring will involve both A and H shares, and due to the complexity of the process, trading will be suspended for a maximum of 25 trading days starting November 20, 2025 [3]. Group 2: Financial Performance - For the first three quarters of 2025, CICC reported revenues of 20.76 billion, a year-on-year increase of 54.36%, and a net profit of 6.57 billion, up 129.75% [3]. - Dongxing Securities achieved revenues of 3.61 billion, a 20.25% increase, and a net profit of 1.60 billion, up 69.56% [3]. - Xinda Securities reported revenues of 3.02 billion, a 28.46% increase, and a net profit of 1.35 billion, up 52.89% [3]. Group 3: Industry Positioning - Post-merger, the combined assets of the three firms will reach approximately 1009.58 billion, with revenues of 27.39 billion and net profits of 9.52 billion, positioning them as the fourth largest in the industry by total assets and sixth by net profit [4]. - The merger is part of a broader trend of consolidation in the securities industry, driven by regulatory support for larger firms to strengthen their market positions [8][9]. Group 4: Central Huijin's Role - Central Huijin has become the controlling shareholder of several securities firms, including CICC, Dongxing, and Xinda, indicating a strategic move towards consolidating its influence in the securities sector [5][6]. - The integration of these firms is seen as a critical step in enhancing their competitive advantages and operational efficiencies within the industry [5][8]. Group 5: Market Trends - The article highlights ongoing trends in the securities industry, including increased mergers and acquisitions as firms seek to enhance their scale and capabilities [8][9]. - Analysts predict that the concentration of assets and profits in the industry will continue to rise, leading to a more competitive landscape dominated by a few large players [8][9].

中毅达公告称，中金公司拟换股吸收合并公司实际控制人信达证券。截至公告出具日，信达证券－兴业 银行－信达兴融4号集合资产管理计划直接持有公司2.6亿股（占总股本24.27%），为控股股东，信达证 券为实际控制人。本次重组不涉及公司控股股东持有的公司股份，不会导致控股股东变化，不影响公司 正常经营。重组方案以交易文件为准，尚需经内部决策和监管机构批准，能否实施存在不确定性。 ...

证券代码：601995 证券简称：中金公司 公告编号：临2025-039 中国国际金融股份有限公司 证券停复牌情况：适用 因筹划重大资产重组，本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | | 停牌起始日 | 停牌期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601995 | 中金公司 | 股 A | 停牌 | 2025/11/20 | | | | 一、停牌事由和工作安排 中国国际金融股份有限公司（以下简称"公司"）与东兴证券股份有限公司（以 下简称"东兴证券"）、信达证券股份有限公司（以下简称"信达证券"）正在筹划 由公司通过向东兴证券全体 A 股换股股东发行 A 股股票、向信达证券全体 A 股换 股股东发行 A 股股票的方式换股吸收合并东兴证券、信达证券（以下简称"本次 重组"）。鉴于上述事项存在重大不确定性，为保证公平信息披露，维护投资者利 益，避免造成公司股价异常波动，根据上海证券交易所的相关规定，经公司申请， 公司 A 股股票（证券简称：中金公司，证券代码：601995） ...

Group 1 - The core point of the article is that China International Capital Corporation (CICC) is planning to absorb and merge with Dongxing Securities and Xinda Securities through a share swap, with trading of CICC's A-shares suspended starting November 20, 2025, for a period not exceeding 25 trading days [1][2][3] Group 2 - The restructuring is aimed at accelerating the establishment of a first-class investment bank and supporting the reform of the financial market and the high-quality development of the securities industry [2]

Core Viewpoint - CICC is planning a significant asset restructuring by acquiring Dongxing Securities and Xinda Securities through a share swap, which is expected to enhance its position as a leading investment bank and support the high-quality development of the securities industry [1] Group 1: Company Actions - Dongxing Securities announced on November 19 that it is in discussions with CICC and Xinda Securities regarding the acquisition [1] - CICC's stock (Dongxing Securities, stock code: 601198) will be suspended from trading starting November 20, 2025, for a period not exceeding 25 trading days to ensure fair information disclosure [1] Group 2: Industry Implications - The restructuring is aimed at accelerating the establishment of a first-class investment bank and supporting reforms in the financial market [1] - The move is positioned to contribute to the high-quality development of the securities industry [1]

| | | 编辑 ｜ 钉钉 11月19日晚间，中金公司公告，公司与东兴证券、信达证券正在筹划由中金公司通过换股方式吸收合并东兴证券、信达证券。为保证公平信息披露，维 护投资者利益，避免造成公司股价异常波动，公司A股股票将于2025年11月20日开市时起停牌，预计停牌时间不超过25个交易日。 公告称，本次重组有助于加快建设一流投资银行，支持金融市场改革与证券行业高质发展。 ...

Core Viewpoint - The announcement indicates that China International Capital Corporation (CICC), Dongxing Securities, and Xinda Securities are planning a significant asset restructuring through a share swap merger, where CICC will issue A-shares to the shareholders of both Dongxing and Xinda Securities [1] Group 1 - CICC, Dongxing Securities, and Xinda Securities have released a suspension announcement regarding the planning of a major asset restructuring [1] - The restructuring involves CICC acquiring Dongxing Securities and Xinda Securities through a share swap mechanism [1] - The share swap will be executed by issuing A-shares to all A-share shareholders of Dongxing and Xinda Securities [1]

Group 1 - The core point of the news is the planned major asset restructuring involving China International Capital Corporation (CICC), Dongxing Securities, and Xinda Securities, aimed at creating a leading investment bank and enhancing the quality of the securities industry [1][2][6] - The restructuring is expected to accelerate the construction of a first-class investment bank, supporting financial market reforms and the high-quality development of the securities industry [1][2] - The integration of resources and capabilities among the three companies aims to achieve economies of scale and synergies, improving service quality and shareholder returns [1][2][6] Group 2 - The restructuring aligns with national policies and strategies, focusing on serving the real economy and enhancing the core competitiveness of leading financial institutions through mergers and acquisitions [2][3] - CICC has maintained a leading position in investment banking, successfully completing several large IPOs and supporting financing needs for "hard technology" enterprises [3][4] - Dongxing Securities and Xinda Securities have shown strong financial performance, with Dongxing achieving a revenue of 36.1 billion and a net profit of 16.0 billion, while Xinda reported a revenue of 30.2 billion and a net profit of 13.5 billion for the first three quarters of 2025 [4][5] Group 3 - The merger will enhance CICC's capital strength and integrate customer resources, further solidifying its leading position in the securities industry [5][6] - The combined entity will benefit from the complementary strengths of CICC's comprehensive investment banking services and the retail brokerage and proprietary trading focus of Dongxing and Xinda [5][6] - The restructuring is expected to create new growth opportunities by deepening capabilities in debt restructuring, risk resolution, and industrial investment banking [5][6]