Zhong Guo Ji Jin Bao·2025-11-04 09:29Group 1 - Nanjing Securities' private placement plan has been approved by the China Securities Regulatory Commission, allowing the company to raise up to 5 billion yuan [2][3] - The funds from the private placement will be allocated to four main business lines: investment banking, wealth management, asset management, and alternative subsidiaries [2][3] - The company aims to enhance its capital strength and operational support through this fundraising, reflecting a strategic shift towards optimizing its business structure [3] Group 2 - Guiding Compass has terminated its private placement plan, which was intended to raise up to 2.905 billion yuan for its subsidiary, Maigao Securities [4][5] - The decision to terminate the plan was influenced by the company's internal and external environment, as well as its strategic goals [4] - Despite the termination, the overall refinancing activity in the industry remains steady, with other firms successfully obtaining approvals for their private placements [5][6]