Sou Hu Cai Jing·2025-11-20 02:22Group 1 - Major asset restructuring announced by three major brokerages: China International Capital Corporation (CICC), Dongxing Securities, and Xinda Securities, forming a "three-in-one" entity [2] - The merger will create another "brokerage giant" in China, further changing the ranking of brokerages in the industry [2] - The current wave of brokerage mergers is approaching the peak levels seen in the early 2000s, with an increasing number of brokerages exceeding 1 trillion in total assets [2] Group 2 - Chinese brokerage stocks in Hong Kong experienced a collective rise, with Oriental Securities up over 4%, and other firms like CITIC Securities, Everbright Securities, China Galaxy, Shenwan Hongyuan, and CITIC Jinpu Securities rising over 3% [3]