Zheng Quan Ri Bao·2025-07-25 15:52Group 1 - Several brokerage firms have undergone name changes this year, including Credit Suisse Securities to Beijing Securities, Hongxin Securities to Tianfu Securities, Guotai Junan to Guotai Haitong, and Guolian Securities to Guolian Minsheng, primarily due to significant changes in shareholding structures and mergers and acquisitions [1] - Credit Suisse Securities officially changed its name to Beijing Securities on July 23 after a shareholding change that made it a state-owned brokerage, reflecting a distinct regional characteristic [1] - Hongxin Securities changed its name to Tianfu Securities on May 29, with its largest shareholder being Sichuan Trust, which holds 60.38% of the shares after a bankruptcy restructuring [1] Group 2 - The involvement of state-owned shareholders can enhance brokerage firms in governance, capital strength, and business expansion, providing strong financial support to navigate complex market conditions [2] - Mergers and acquisitions are a significant reason for the name changes among brokerages, with Guotai Junan and Haitong Securities' merger being a notable example, completing its registration changes on April 3 [2] - Guolian Minsheng also completed its name change on February 7 after a merger, reflecting its strategic development needs [3] Group 3 - Ongoing mergers and acquisitions in the securities industry include partnerships like Guoxin Securities with Wanhua Securities and Zheshang Securities with Guodu Securities, indicating a trend towards consolidation [3] - The industry is expected to see increased mergers and acquisitions driven by policy guidance and internal motivations, with resource integration becoming a key method for brokerages to enhance scale and comprehensive strength [3] - Large brokerages may use mergers to address weaknesses and consolidate advantages, while smaller brokerages could achieve scale effects and business complementarity through acquisitions [3]