根据上述价格，东兴证券、信达证券与中金公司A股的换股比例分别为1∶0.4373与1∶0.5188。东兴证券与 信达证券全部A股参与换股，以此计算，中金公司预计将新发行A股约30.96亿股。中金公司称，此次交 易构成重大资产重组，交易金额为1142.75亿元。 根据公告，自此次合并的交割日起，中金公司将承继及承接东兴证券、信达证券的全部资产、负债、业 务、人员、合同、资质及其他一切权利与义务；合并完成后，东兴证券、信达证券将终止上市并注销法 人资格。中金公司因此次换股吸收合并所发行的A股股票将申请在上交所主板上市流通。 设立异议股东保护机制 复牌时间较预期大幅提前 11月19日，中金公司公告筹划重大资产重组，拟同时吸收合并东兴证券、信达证券。如今合并预案出 台，股票均于12月18日复牌，这较此前业内预计的最早复牌时间提前了5天。 根据公告，吸收合并方中金公司作为存续主体，换股价格为36.91元/股，被吸收合并方东兴证券换股价 格为16.14元/股，较基准价格溢价26%，信达证券换股价格为19.15元/股。 对于东兴证券换股价格溢价原因，业内人士向证券时报记者分析，主要相对于东兴证券，信达证券可比 估值较高，在两 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601995 证券简称：中金公司 公告编号：临2025-047 中国国际金融股份有限公司 关于披露重大资产重组预案的一般风险提示 暨公司股票复牌的公告 中国国际金融股份有限公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次交易方案尚需公司另行召开董事会再次审议及公司股东会审议批准，并获得相应批准、核准、注册 或同意后方可正式实施；本次交易能否取得相关批准、核准、注册或同意，以及最终取得的时间均存在 不确定性，提请广大投资者注意投资风险。 特此公告。 中国国际金融股份有限公司 董 事 会 ● 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： ■ 中国国际金融股份有限公司（以下简称"中金公司"或"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 ...

Group 1 - The core purpose of the equity change is the stock swap absorption merger of Dongxing Securities and Xinda Securities by CICC, resulting in a change in the shareholding ratio of the disclosing party and its concerted actors [19][30] - As of June 30, 2025, the disclosing party and its concerted actors hold 63,808.19 million A-shares, accounting for 8.05% of the total share capital of the merged company [4][32] - The merger agreement was signed on December 17, 2025, and the shares issued by CICC will be listed and traded on the Shanghai Stock Exchange [3][4] Group 2 - The disclosing party has no plans to increase its shareholding in the listed company within the next 12 months, aside from the current equity change [2][30] - The disclosing party and its concerted actors did not hold any shares in the listed company before the equity change [4][32] - After the equity change, the disclosing party will hold 132,366.63 million A-shares, representing 16.71% of the total share capital of the merged company [32] Group 3 - The equity change will require several approvals, including board resolutions from all parties involved and approvals from relevant regulatory bodies [9][11][27] - The disclosing party has committed to a lock-up period of 36 months for the shares acquired through this transaction, during which they cannot be transferred or managed by others [33][5] - The disclosing party has disclosed all relevant information regarding the equity change and has no undisclosed information that could mislead the report [37][13]

Group 1 - The transaction involves a share swap merger where CICC will absorb Dongxing Securities and Cinda Securities, aiming to create a leading investment bank with international competitiveness [5][6] - The merger is expected to enhance the operational efficiency, risk resistance, and comprehensive service capabilities of the combined entity, aligning with national strategies and supporting the development of the real economy [5][14] - The merger will result in CICC inheriting all assets, liabilities, and operations of Dongxing and Cinda, leading to a significant increase in revenue and capital scale, with projected revenue of approximately 27.4 billion yuan by 2025 [14][18] Group 2 - The merger is classified as a major asset restructuring for all involved parties, including CICC, Dongxing, and Cinda, based on their audited financial reports [7][8][9] - The transaction will not result in a change of control for CICC, as it remains under the control of Central Huijin, ensuring compliance with regulatory requirements [10][11] - The merger is designed to optimize the financial institution's structure, enhance core functions, and improve competitiveness in the capital market [58][59][60] Group 3 - The transaction is subject to various approvals, including from the boards and shareholders of the involved companies, as well as regulatory bodies like the China Securities Regulatory Commission [22][26] - Measures are in place to protect the rights of minority investors, including strict information disclosure and voting arrangements [34][35][36] - The transaction will not lead to a dilution of earnings per share for CICC, as it is expected to maintain compliance with A-share listing requirements post-merger [19][39]

就在刚才，资本市场扔下一颗"重磅炸弹"：中金公司公告，正在筹划通过换股方式，吸收合并东兴证券 和信达证券！这意味着什么？简单说，就是一家头部券商，要一次性"吞下"两家中型券商，打造一艘新 的"航母"。 这是国内券商行业首例"一换二"的头部吸收合并案，标志着行业 "供给侧改革"和集约化发展进入了一 个全新的、超预期的阶段。对于散户而言，这绝不仅仅是三家公司股票复牌那么简单的事件。 1. 规模效应：合并后，新公司的资本实力、业务网络和客户基础将大幅跃升，直接冲击现有券商排名格 局。 2. 示范效应：这很可能只是开始。在打造"一流投资银行"的政策导向下，未来行业内的兼并重组可能会 加速，"强者恒强" 的逻辑将空前强化。 3. 短期博弈：复牌后，相关公司股价必然会迎来激烈博弈，既有对合并后协同效应的憧憬，也有对整合 难度和短期波动的担忧。 券商行业开启"巨无霸"合并模式，你认为这对整个板块是重大利好，还是短期炒作？你看好合并后的长 期竞争力吗？ 在评论区留下你的判断：A. 大利好，强者时代来临 B. 短期炒作，谨慎看待 C. 说不清，先围观 核心看点与深远影响： 【关键数据】 · "一换二"：这是交易结构的关键。 · ...

Group 1: Major Asset Restructuring - Pulutong plans to acquire 100% of Leqee Group Limited and 8.26% of Hangzhou Lemai through share issuance and cash payment, with the transaction price yet to be determined [2][3] - Wanlong Optoelectronics intends to acquire 100% of Zhejiang Zhongkong Information Industry Co., Ltd. through share issuance and cash payment, with the final transaction price still pending [4][5] - Fengxing Co. plans to acquire 75% of Baiyin Huaxin Jiuhe Recycling Resources Co., Ltd. through share issuance and cash payment, with the asset valuation and transaction price yet to be confirmed [6] Group 2: Corporate Mergers and Acquisitions - CICC disclosed a plan to absorb and merge Dongxing Securities and Xinda Securities, with the merger expected to result in the cancellation of the latter's listings [7] - Meike Home is in the process of planning to acquire control of Shenzhen Wandelong Optoelectronics Co., Ltd., with the valuation still under consideration [8] Group 3: Significant Contracts and Agreements - China CRRC signed several major contracts totaling approximately 533.1 billion yuan, which includes contracts for wind power equipment and urban rail vehicles [15] - China Duty Free Group won bids for duty-free store projects at Shanghai Pudong and Hongqiao International Airports, with a joint investment of 102 million yuan for a new duty-free joint venture [16]

本报记者 周尚伃 在证券行业奋力打造一流投资银行的征程中，"汇金系"旗下的3家上市券商重大资产重组迎来关键进展。12月17日晚间， 中金公司与东兴证券、信达证券同步披露重大资产重组预案，中金公司换股吸收合并两家公司的交易定价与方案明晰。3家上 市券商A股股票均于12月18日开市起复牌。 重组核心价值凸显 本次重组的意义不仅在于体量的扩容，更在于实现战略层面的深度协同与资源的高效整合。 通过本次重组，中金公司将与东兴证券、信达证券在战略层面深度协同，实现资源整合以及资本实力整体跃升。合并后公 司不仅资产规模、业务规模、营收规模将升至行业前列，更将形成一个覆盖"机构与零售""国际与国内""标准化与特色化"的全 方位服务体系，综合服务能力与抗周期波动能力均将大幅增强。 从业务互补性角度来看，中金公司长期以来在投资银行、私募股权投资、机构业务及国际化业务领域积累了行业领先的专 业能力，东兴证券及信达证券在区域布局、零售客户方面基础深厚，且具备较为充裕的资本金，三方构成优势互补。此外，依 托金融资产管理公司作为重要股东的资源纽带，合并后的公司可综合调动专业服务能力、产业链资源和资本市场工具，发挥其 在不良资产经营和特殊 ...

Major Events - CICC (03908) plans a stock swap to absorb Dongxing Securities (601198.SH) and Xinda Securities (601059.SH), with resumption of trading on December 18 [1] - Yuanda Pharmaceutical (00512) has received approval to conduct clinical research in the U.S. for its self-developed innovative radiopharmaceutical GPN01530 [1] - Changfeng Pharmaceutical (02652) has had its clinical trial application for Olopatadine Mometasone nasal spray accepted by NMPA [1] - CRRC (01766) and its subsidiaries have signed significant contracts totaling approximately 53.31 billion yuan over the past three months [1] - Guangzhou Pharmaceutical, a subsidiary of Baiyunshan (00874), plans to invest around 500 million yuan to acquire 100% equity of Zhejiang Pharmaceutical Industry Co., Ltd. [1] Buybacks - China Metallurgical Group (01618) intends to repurchase up to 2 billion yuan of A-shares and 500 million yuan of H-shares [1] - Tencent Holdings (00700) repurchased 1.057 million shares for 636 million HKD on December 17 [1] - Techtronic Industries (00669) repurchased 500,000 shares for 44.91 million HKD on December 17 [1] - Country Garden Services (06098) repurchased 3.697 million shares for 23.17 million HKD on December 17 [1] - COSCO Shipping Holdings (01919) repurchased 285,750 shares for 38.61 million HKD on December 17 [1]

Mergers and Acquisitions - China International Capital Corporation (CICC) is planning to absorb and merge with Dongxing Securities and Xinda Securities through a share swap, with stock trading resuming on December 18, 2025 [2] - Wanlong Optoelectronics intends to acquire 100% of Zhongkong Information's shares, which is expected to constitute a major asset restructuring, with stock trading resuming on December 18, 2025 [3] - Xiaocong Co., Ltd. announced that its controlling shareholder plans to transfer 9.25% of its shares to Jiasheng Times, resulting in a change of control [4] - Pulutong plans to acquire 100% of Leqi Cayman and 8.26% of Hangzhou Lemai's shares, with stock trading resuming on December 18, 2025 [5] - Fengxing Co. intends to purchase 75% of Baiyin Huaxin's shares, which is expected to constitute a major asset restructuring [7] - Meike Home is planning to acquire control of Shenzhen Wandeng Technology Co., Ltd., with stock trading suspended on December 18, 2025 [15] Financial Performance and Investments - Deep City Transportation plans to raise no more than 1.8 billion yuan through a private placement for projects related to intelligent transportation equipment and global business expansion [10] - Huasheng Tiancheng received an arbitration ruling requiring it to return 35 million yuan in reward funds to the Changzhou High-tech Zone Management Committee, along with interest payments [11] - Xiangrong Data signed a cooperation agreement for a project focused on the research and production of optical modules, which is expected to positively impact future business performance [16] Stock Trading and Shareholder Changes - Chuangxin Electronics announced that its controlling shareholder is planning a change of control, with stock trading suspended on December 18, 2025 [6] - Fenglong Co. is also planning a change of control, with stock trading suspended on December 18, 2025 [9] - Huayi Brothers reported a reduction in shareholding by Alibaba's investment arm, bringing its stake below 5%, which is expected to stabilize the company's equity structure [22] - Strait Co., Ltd. plans to reduce its stake in Zhonglun New Materials by up to 2% due to funding needs [23] Share Buybacks - China Metallurgical Group plans to repurchase A-shares worth between 1 billion and 2 billion yuan, with the intention of reducing registered capital [18] - Yanjinpuzi intends to repurchase between 2.6 million and 3 million shares at a price not exceeding 109.32 yuan per share [19] - Huakai Yibai plans to repurchase shares worth between 15 million and 30 million yuan, with a maximum price of 17.35 yuan per share [20] Major Contracts - China CRRC signed contracts totaling approximately 53.31 billion yuan, including significant contracts for wind power and energy storage equipment [25]

Core Viewpoint - The merger and acquisition plan between China International Capital Corporation (CICC) and Dongxing Securities and Xinda Securities is expected to significantly enhance CICC's asset scale and competitive position in the investment banking sector, with total assets projected to exceed 1 trillion yuan [1][5]. Summary by Sections Transaction Details - The merger involves a share swap, with CICC's share price set at 36.91 yuan per share, Dongxing Securities at 16.14 yuan, and Xinda Securities at 19.15 yuan [1]. - The exchange ratios are 1:0.4373 for Dongxing Securities and 1:0.5188 for Xinda Securities, leading to the issuance of approximately 3.096 billion new A-shares by CICC [1]. Shareholder Rights and Structure - Shares with restrictions (pledged, frozen, or legally limited) will convert to CICC shares, maintaining their original status [2]. - Central Huijin will hold 1.936 billion shares of CICC post-merger, representing 24.44% of the total share capital, remaining the controlling shareholder [2]. Strategic Benefits - The merger aims to enhance asset value and balance shareholder interests, with major shareholders committing to lock their shares for 36 months [3]. - CICC will inherit all assets, liabilities, and operations from the merged entities, aiming for comprehensive resource integration and enhanced development potential [4]. Operational Enhancements - Post-merger, CICC's estimated revenue for the first three quarters of 2025 is around 27.4 billion yuan, with a significant increase in capital scale [4]. - The number of CICC's retail clients is expected to rise from 9.72 million to over 14 million, enhancing its customer base [4]. Industry Positioning - The merger aligns with national strategies to improve financial institution efficiency and support high-quality development in the financial sector [6]. - CICC's capital utilization efficiency is expected to improve, with a historical financial investment return rate of 3.5%, outperforming Dongxing and Xinda Securities [6]. Future Outlook - CICC aims to leverage the merger to transform scale advantages into high-quality development momentum, aspiring to become a leading international investment bank [6].