Founder Securities(SH:601901) Mei Ri Jing Ji Xin Wen·2025-07-24 14:36Core Viewpoint - The ownership of Credit Suisse Securities (China) Co., Ltd. has transitioned from a foreign-controlled joint venture to a state-owned brokerage following the completion of a share transfer to Beijing State-owned Assets Management Co., Ltd. [1][2] Group 1: Share Transfer Details - On July 23, 2024, the share transfer was finalized, with Credit Suisse Securities being renamed Beijing Securities Co., Ltd. [1] - The transfer involved Beijing State-owned Assets Management Co., Ltd. acquiring 85.01% of Credit Suisse Securities, including 36.01% from UBS Group and 49% from Founder Securities, for a total consideration of approximately $19.35 million (about 1.455 billion RMB) [2] - The transfer process took over a year, with regulatory approval from the China Securities Regulatory Commission received on March 12, 2024 [2] Group 2: Financial Performance - Credit Suisse Securities reported a significant decline in performance, with 2024 revenue of 56.85 million RMB, down approximately 63.81% year-on-year [3] - The net loss for the company in 2024 was 162 million RMB, indicating ongoing financial struggles [3] - The revenue breakdown included net income from investment banking of 15.41 million RMB (down 61.91%), brokerage fees of 2.36 million RMB (down 25.62%), and net interest income of 19.72 million RMB [3] Group 3: Strategic Implications - The acquisition aligns with national and municipal policies aimed at enhancing financial services for the real economy [3] - Following the establishment of Beijing Securities, the Beijing state-owned capital system now includes at least five brokerages, raising questions about potential consolidation in the industry [3]