股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 昨晚，中金公司公告称，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。与此同时，此次中金合并东兴证券、信达证券预案也浮出水面。中金公司的A股换股价 格为36.91元/股，东兴证券的A股换股价格为16.14元/股，信达证券的A股换股价格为19.15元/股。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、1:0.5188。 12月18日，中金公司在停牌20个交易日之后，披露吸收合并东兴证券、信达证券预案。A股市场东兴证 券复牌涨停；中金公司复牌一度涨停，目前涨幅收窄至6%；信达证券复牌一度涨超8%，目前涨幅在6% 以内跌。 ...

12月17日，三家券商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迎来重大进展，并宣 布于12月18日复牌。 北京商报讯（记者 刘宇阳）12月18日开盘，中金公司、东兴证券同步涨停，分别报38.38元/股、14.44 元/股，信达证券涨6.8%，报19元/股。截至9时35分，东兴证券维持涨停，中金公司和信达证券均涨超 6%。 根据交易预案，本次交易定价以各方董事会决议公告日前20个交易日均价作为基准价格，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，信达证 券换股价格为19.15元/股。 ...

中金公司换股吸收东兴、信达证券预案点评 分析师 刘雨辰 执业证书： S0590522100001 邮箱： liuyuch@glms.com.cn 分析师 耿张逸 执业证书： S0590524100001 邮箱： gzhy@glms.com.cn 合并后新主体实力有望显著提升，后续发展值得期待 glmszqdatemark 2025 年 12 月 18 日 事件：2025 年 12 月 17 日，中金公司、东兴证券、信达证券均发布《中国国际 金融股份有限公司换股吸收合并东兴证券股份有限公司、信达证券股份有限公司 预案》，三家公司股票将于 2025 年 12 月 18 日复牌。 吸收合并预案出台，东兴、信达与中金换股比例分别为 1：0.4373 和 1：0.5188。 1）东兴、信达与中金换股比例分别为 1：0.4373 和 1：0.5188：本次交易的具 体实现方式为中金公司换股吸收合并东兴证券和信达证券。中金公司和信达证券 的换股价格按照定价基准日前 20 个交易日的股票交易均价确定，东兴证券的换 股价格按照定价基准日前 20 个交易日的股票交易均价并给予 26%的溢价后确 定。中金公司 A 股换股价格为 3 ...

2025.12. 18 沪指低开0.34%，深成指低开0.85%，创业板指低开1.17% | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 1 150 | 3857.26 | -13.02 | -0.34% | | 399001 | 深证成指 | 1 WW | 13112.61 | -111.90 | -0.85% | | 399006 | 创业板指 | N Non | 3138.66 | -37.25 | -1.17% | 盘面上，CPO、首发经济、光伏、消费电子概念股走弱。 个股方面，中金公司拟换股吸收合并东兴证券与信达证券，中金公司A股、东兴证券涨停，信达证券 涨近7%。 本文字数：452，阅读时长大约1分钟 作者 | 一财 阿驴 09:25 A股开盘丨三大指数集体低开 | 38.38 +3.49 +10.00% | | 中金公司 1 立即 601995 交易 | | | | --- | --- | --- | --- | --- | | SSE CNY 9:25:01 交易 ...

中金公司、东兴证券、信达证券今日复牌，中金公司A股开盘涨停，H股涨逾7%。东兴证券涨停，信达 证券高开6.8%。 | 38 38 +3.49 +10.00% | | | 中金公司 (1) 立即 601995 交易 | | --- | --- | --- | --- | | SSE CNY 9:25:01 交易中 查看L2全景 | | | 通融/ ● 十 | | 20.300(+7.07%)I/A :- 52.01% Wind ESG评级 | | | 详情 | | 委比-97.52% 委差 -74227 | | | 今年 14.19% 120日 6.81% | | 图 | - | IC | 5日 10.00% 250日 4.24% | | 卖口 | 1 | 12 | 20日 10.00% 52周高 39.91 | | 25 60日 | | - | 3.03% 52周低 30.24 | | 三三 | 1 | - | 2023 20242025Q3 | | EPS | 38.38 | 75170 | 1.14 1.04 1.24 | | BPS | 38.37 | 856 | 18.27 19.15 20.22 | ...

Group 1 - CICC plans to issue 3.096 billion A-shares, resulting in Central Huijin's direct shareholding reaching 1.936 billion shares [1][4] - On December 18, CICC and Dongxing Securities saw their A-shares hit the daily limit, while Cinda Securities rose by 6.8%, with CICC's Hong Kong shares increasing by over 7% [1] - The share exchange prices are set at 36.91 CNY for CICC, 16.14 CNY for Dongxing, and 19.15 CNY for Cinda, with exchange ratios of 1:0.4373 and 1:0.5188 respectively [4] Group 2 - The merger aims to create a competitive investment bank and support the reform of the capital market and high-quality development of the securities industry [4] - Projected revenues for 2024 are 21.333 billion CNY for CICC, 9.370 billion CNY for Dongxing, and 3.292 billion CNY for Cinda, with total assets of 674.716 billion CNY, 105.229 billion CNY, and 106.902 billion CNY respectively [4] - The total transaction amount for the merger is estimated at 114.275 billion CNY [4][5]

| 比亚迪股份 | 93.800 | -1.52% | | --- | --- | --- | | 1211.HK | | | | 百度集团-SW | 116.900 | -1.43% | | 9888.HK | | | | 华虹未合体 | 67.400 | -1.17% | | 1347.HK | | | | 中芯国际 | 64.000 | -1.16% | | 0981.HK | | | | 网易-S | 208.400 | -0.86% | | 9999.HK | | | | 京东集团-SW | 111.400 | -0.80% | | 9618.HK | | | 中金公司涨逾7%，公司公告，拟换股吸收合并东兴证券与信达证券。 | < W | 中金公司(3908) | | | --- | --- | --- | | | 集合竞价 12-18 09:20:15 通 | | | 20.300 | 额 8993万 股本 48.27亿 市盈 | 10.3 万得 | | | | 盘口 | | 1.340 7.07% | 换 0.23% 市值 1623亿 市净 | 0.92 | | A股 38.38 +3.49 + ...

Capital Operations - Shen Cheng Jiao plans to raise no more than 1.8 billion yuan through a private placement for the research and large-scale application of low-altitude and autonomous driving intelligent transportation equipment and related projects [2] - Ding Gu Ji Chuang's invested company Hang Ju Technology has developed the WS series flexible reusable thermal protection materials, which have been applied to the Blue Arrow Aerospace Zhuque-3 rocket body [2] - Zhen You Technology has ongoing ground core network development projects in both high-orbit and low-orbit satellite communication fields [2] Investment and Operations - Zhongjin Company plans a stock swap merger with Dongxing Securities and Xinda Securities, with stock trading resuming on December 18 [1] - Beiqi Blue Valley aims to continue developing L3 models in the mid-to-high-end brand segment, with some L3 model products currently in the development stage [1] - Xingmin Zhitong's communication domain controller is currently being used in L3 and L4 autonomous vehicles, including Robotaxi and unmanned logistics vehicles [1] Contracts and Collaborations - Pudong Construction's subsidiary recently won contracts totaling 1.649 billion yuan [1] - China Duty Free Group's wholly-owned subsidiary signed a contract for the transfer of duty-free store project operating rights, planning to invest 102 million yuan to establish a joint venture with Shanghai Airport [1] - Shanghai Airport signed a contract with Dufry and China Duty Free Group for the transfer of duty-free store project operating rights, with Dayang Shanghai not renewing the contract [1] - China CRRC and its subsidiaries recently signed contracts totaling 53.31 billion yuan, with wind power and energy storage equipment sales contracts amounting to approximately 16.65 billion yuan [1] Performance - China Nuclear Construction reported a cumulative operating income of 92.03 billion yuan by November 2025 [4] Share Buybacks - Shibao Testing's executives plan to increase their holdings of company shares by 8 million to 12 million yuan [4]

Market Overview - On December 18, A-shares opened lower with the Shanghai Composite Index down 0.34% at 3857.26 points, the Shenzhen Component Index down 0.85% at 13112.61 points, and the ChiNext Index down 1.17% at 3138.66 points [1] - Key sectors such as CPO, tax refunds for outbound travelers, and fiberglass saw significant declines [1] - Notable stocks included Baida Group, which opened up 4.49%, and Shengtong Energy, which reached a limit up after a change in control [1] Company News - SpaceX has entered a "regulatory quiet period," signaling the initiation of the largest IPO in history [2] - Vanke A proposed a 12-month extension for the principal repayment of its medium-term notes, with a total outstanding amount of 3.7 billion yuan [2] - CATL launched the world's first humanoid robot production line for battery PACKs, marking a significant milestone in intelligent manufacturing [2] - China CNR signed several major contracts totaling approximately 53.31 billion yuan, representing 21.6% of its projected 2024 revenue [3] - Huayi Brothers reported a reduction in shareholding by Alibaba's venture capital arm, decreasing its stake from 3.47% to 2.40% [3] Industry Insights - The global optical module market is experiencing a rapid shift from copper cables to fiber optics, with 1.6T products expected to see significant growth starting in 2026 [6] - The Yichun Natural Resources Bureau plans to revoke 27 mining licenses, including one for Jiangte Electric's lithium-containing ceramic stone mine with an annual capacity of 1.2 million tons [7] - Travel bookings for the upcoming New Year holiday have increased by nearly 30% compared to the same period last year, indicating a recovery in the tourism sector [8] - A successful clinical trial of an invasive brain-computer interface was completed, allowing a paralyzed patient to control a smart wheelchair using brain signals [9] - The upcoming FORCE conference by Volcano Engine is expected to introduce new AI models, enhancing performance and reducing costs [10] - The fifth International AIDC Liquid Cooling Supply Chain Summit will discuss the growing importance of liquid cooling technology in data centers due to rising AI server demands [11] - The founder of Hailin Energy predicts that global electricity demand will surge by 2050, emphasizing the critical role of energy storage in addressing energy challenges [12][13] Institutional Perspectives - CITIC Securities highlights structural opportunities in the express delivery sector, focusing on cost reduction across the entire supply chain [14] - CICC notes that the food and beverage industry is nearing a bottom, with a focus on high-quality growth driven by product innovation and channel expansion [15] - Huatai Securities anticipates that the recent approval of L3 autonomous driving vehicles will accelerate value reconstruction in the smart driving industry, with significant investment opportunities emerging in 2026 [16]

来源：新浪基金∞工作室 12月18日，中金公司涨9.43%，截至发稿，报38.18元/股，成交7.82亿元，换手率0.70%，总市值1843.05 亿元。中金公司股价已经连续10天上涨，区间累计涨幅0%。 资料显示，中国国际金融股份有限公司位于北京市建国门外大街1号国贸大厦2座6层、26层、27层及28 层,香港中环港景街1号国际金融中心第1期29楼，成立日期1995年7月31日，上市日期2020年11月2日， 公司主营业务涉及中国国际金融股份有限公司主要从事投资银行、股本销售及交易、固定收益、大宗商 品及货币、财富管理及投资管理业务。该公司通过六大分部运营业务。投资银行分部从事提供投资银行 服务。股本销售及交易分部从事提供股本销售及交易服务。固定收益分部从事金融产品交易以及提供产 品结构化设计、固定收益销售及期货经纪服务。财富管理分部从事提供财富管理产品及服务。投资管理 分部从事设计及提供资产管理产品及服务。其他分部从事其他业务及后台支持业务。主营业务收入构成 为：财富管理32.58%，股票业务25.78%，固定收益13.38%，投资银行11.26%，其他8.87%，资产管理 4.21%，私募股权3.91% ...