Mei Ri Jing Ji Xin Wen·2025-11-21 05:51Group 1 - Core viewpoint: CICC, Xinda Securities, and Dongxing Securities are planning a significant asset restructuring, with CICC set to merge with Xinda and Dongxing through a share swap [1] - CICC's total assets are reported at 764.9 billion yuan, ranking sixth among listed securities firms, while Xinda and Dongxing have total assets of 128.3 billion yuan and 116.4 billion yuan, respectively [1] - The combined total assets of the three firms post-merger are expected to exceed 1 trillion yuan, positioning them as the fourth largest in the industry [1] Group 2 - Xinda and Dongxing, previously part of the AMC system, possess differentiated strengths in investment banking and asset management, which could enhance CICC's various business lines [1] - The merger will improve CICC's branch coverage density in Liaoning and Fujian, achieving complementary regional advantages [1] - The integration of CICC's fund management with Xinda's and Dongxing's respective funds is anticipated [1] Group 3 - The Securities ETF (512880) tracks the Securities Company Index (399975), which selects listed companies closely related to the securities market from the Shanghai and Shenzhen markets [1] - The index reflects the overall performance of listed companies in the securities industry, covering core business areas such as brokerage, underwriting, and asset management [1] - The constituent securities are primarily competitive and high market capitalization firms within the securities industry [1]