Huaan Securities(SH:600909) Hua Xia Shi Bao·2026-01-17 08:20Core Viewpoint - Huazhong Securities plans to increase its stake in Huafu Fund from 49% to 51% by investing 26.46 million yuan, marking a significant shift from a major shareholder to a controlling shareholder, which aligns with its wealth management strategy transformation [2][4]. Group 1: Investment Details - The investment will allow Huazhong Securities to gain a rare public fund license, completing its "securities + public fund + asset management" business chain [2]. - The board meeting to approve the capital increase is scheduled for January 12, 2026, with the new registered capital being 10.2041 million yuan [2]. - After the capital increase, the shareholding structure will adjust, with Anhui Credit Guarantee Group's stake decreasing from 27% to 25.94%, and Hefei Xingtai Financial Holding Group's stake decreasing from 24% to 23.06% [3]. Group 2: Financial Performance and Valuation - As of July 31, 2025, Huafu Fund's total equity value is assessed at 648.309 million yuan, with a net asset of 705 million yuan as of September 30, 2025 [4]. - The fund reported a revenue of 254 million yuan and a net profit of 19.2187 million yuan for the first nine months of 2025, reflecting a value increase of 8.5428 million yuan, with a growth rate of 1.34% [4]. Group 3: Strategic Implications - The acquisition of the public fund license is seen as a critical move for enhancing control over Huafu Fund, optimizing wealth management layout, and improving asset allocation service capabilities [4]. - The competition for public fund licenses is driven by the need for wealth management transformation, regulatory compliance, and the trend of residents moving their savings [4]. - Huafu Fund has surpassed 100 billion yuan in asset management scale, managing 180 funds and ranking 31st among 106 comparable fund management companies [7].