Zheng Quan Shi Bao Wang·2025-11-20 00:34Group 1 - The core point of the article is the merger and acquisition activity involving Central Huijin's securities firms, specifically the planned absorption merger of Dongxing Securities and Xinda Securities by CICC through a share exchange [1][4][7] - The restructuring involves both A-share and H-share listed companies, indicating a complex process that is expected to take no more than 25 trading days for the suspension of trading [2][4] - CICC's financial performance for the first three quarters shows a revenue of 20.76 billion yuan, a year-on-year increase of 54.36%, and a net profit of 6.57 billion yuan, up 129.75% [2][3] Group 2 - Following the merger, the combined assets of the three firms will reach approximately 1009.58 billion yuan, with total revenue of 27.39 billion yuan and net profit of 9.52 billion yuan, positioning them as the fourth largest in the industry by asset size [3][4] - Central Huijin currently controls six securities firms, with significant stakes in CICC (40.11%), Xinda Securities (78.67% indirectly), and Dongxing Securities (45.14% indirectly) [4][5] - The merger is part of a broader trend in the securities industry towards consolidation, with several other firms also undergoing mergers and acquisitions to enhance their competitive positions [7][8]