中信证券公告：取消60亿元债券发行！发生了什么？

Core Points - Citic Securities announced the cancellation of its planned issuance of subordinate bonds due to the inability of the lead underwriter, Kaiyuan Securities, to participate in the underwriting process [1][2] - The China Securities Regulatory Commission (CSRC) suspended Kaiyuan Securities' bond underwriting business, which directly led to the cancellation of the bond issuance [1][2] - The bond issuance was initially approved for a total face value of up to 20 billion yuan, with the current issuance scale set at a maximum of 6 billion yuan [1] Group 1 - The bond issuance was scheduled for October 23-25, 2024, and was intended to supplement working capital [1] - The bond was divided into two varieties, with one having a term of 273 days and the other a term of 3 years [1] - The cancellation of the bond issuance also affected Hunan Dongting Resources Holdings Group, which canceled its planned issuance of 1.5 billion yuan in bonds for similar reasons [1] Group 2 - The CSRC's suspension of Kaiyuan Securities was due to multiple violations, including misleading statements in bond offering documents and inadequate due diligence on green bonds [2] - The CSRC has also decided to interview responsible personnel at Kaiyuan Securities regarding these violations [3] - Despite the suspension, Kaiyuan Securities reported stable financial conditions, with a revenue of 1.301 billion yuan in the first half of 2024, although investment banking revenue dropped by 39.88% [3]