2 1 Shi Ji Jing Ji Bao Dao·2025-09-17 02:25Core Viewpoint - The ongoing speculation regarding the merger between Guoyuan Securities and Huazhong Securities has gained significant attention, particularly as both firms are state-owned and have a long-standing competitive relationship in Anhui Province [1][4][5]. Group 1: Company Background - Guoyuan Securities was established in 2001, while Huazhong Securities has a history dating back to 1991, making it ten years older [9][10][12]. - Both companies are controlled by the Anhui Provincial State-owned Assets Supervision and Administration Commission, which adds to the speculation about a potential merger [11][4]. Group 2: Performance Comparison - Guoyuan Securities has historically outperformed Huazhong Securities in terms of revenue, consistently ranking within the top 30 in the industry since 2021, with its best ranking being 21st [14]. - Huazhong Securities has shown rapid growth, moving from 43rd place in 2021 to 28th place in the first half of 2024, narrowing the revenue gap with Guoyuan Securities to just 5.89 billion yuan [14]. Group 3: Market Speculation and Responses - The merger rumors have persisted for over a decade, with previous speculation dating back to 2007 when Guoyuan Securities went public [7][8]. - Huazhong Securities has publicly stated its focus on "internal development" while also seeking "external expansion opportunities," which has fueled further speculation about a merger without confirming or denying it [6][1].