千亿券商并购！证监会核准国信证券成为万和证券主要股东

Core Viewpoint - The acquisition of Wanhe Securities by Guosen Securities has received approval from the China Securities Regulatory Commission (CSRC), marking a significant step in the consolidation of the brokerage industry in China [2][4]. Group 1: Acquisition Details - CSRC approved Guosen Securities to issue shares to acquire a total of 2.184 billion shares of Wanhe Securities, representing 96.0792% of the company's total shares [4]. - The share issuance involves multiple stakeholders, including Shenzhen Capital Operation Group Co., Ltd. and Shenzhen Kunpeng Equity Investment Co., Ltd., among others [4]. - The approval for the share issuance is valid for 12 months from the date of issuance [4]. Group 2: Industry Context - The consolidation of brokerages has become a hot topic in the industry since 2024, with the "Guosen + Wanhe" combination attracting significant market attention [5][6]. - The central financial work conference in October 2023 emphasized the need to cultivate first-class investment banks and institutions, supporting the ongoing trend of mergers and acquisitions in the securities industry [7]. Group 3: Strategic Goals - Guosen Securities aims to optimize the strategic layout of state-owned financial assets, achieve non-organic growth, expand international operations, and enhance overall company value through this acquisition [7]. - The acquisition is expected to improve Guosen Securities' cross-regional layout, leveraging Wanhe Securities' presence in key development areas such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta [8]. Group 4: Financial Performance - Wanhe Securities reported revenues of 102.45 million yuan, 513.98 million yuan, and 420.58 million yuan for the years 2022, 2023, and the first 11 months of 2024, respectively [8]. - The net profit attributable to the parent company for Wanhe Securities was -27.85 million yuan in 2022, 6.15 million yuan in 2023, and 2.92 million yuan in the first 11 months of 2024 [8]. - Guosen Securities anticipates a net profit of 4.78 billion to 5.53 billion yuan for the first half of 2025, representing a year-on-year growth of 52% to 76% [9].