新理益集团质押长江证券4.12亿股，资本大佬刘益谦“缺钱了”？

Core Viewpoint - New Liyi Group, a major shareholder of Changjiang Securities, has pledged approximately 412 million shares, accounting for 7.44% of the company's total equity, to two companies, indicating potential shifts in shareholder dynamics and control [1][2] Group 1: Shareholding and Pledge Details - New Liyi Group holds a total of 19.28% of Changjiang Securities, with 823 million shares directly owned, and the pledged shares represent half of its total holdings [2] - The market value of the pledged shares is approximately 3.679 billion yuan, based on the closing price of 8.93 yuan per share on the announcement date [2] Group 2: Historical Context and Shareholder Dynamics - New Liyi Group, led by capital mogul Liu Yiqian, has been a significant player in Changjiang Securities since acquiring a 14.72% stake in 2015 for 10 billion yuan [2] - Following the acquisition, a dilution of shares occurred due to an 8.3 billion yuan private placement, leading to a fragmented ownership structure and a "leaderless" state for the company [2][3] Group 3: Recent Developments and Financial Performance - In March 2023, a shift occurred when Changjiang Industrial Group, backed by the Hubei State-owned Assets Supervision and Administration Commission, became the largest shareholder with 28.22% of the shares, surpassing New Liyi Group [3] - Changjiang Securities has reported strong financial performance, with Q3 2025 revenues of 3.782 billion yuan, a 94.04% year-on-year increase, and a net profit of 1.636 billion yuan, up 152.76% [3] - For the first three quarters of 2025, the company achieved a record high in revenue and net profit, with figures of 8.486 billion yuan and 3.373 billion yuan, respectively, reflecting increases of 76.66% and 135.2% year-on-year [3]