竞争激烈！66轮出价，这家IPO券商逾1000万股花落谁家？

Core Viewpoint - The auction of 11.62 million shares of Hualong Securities was highly competitive, with the final bid significantly exceeding the starting price, indicating strong interest from the controlling shareholder, Gansu Financial Holdings Group [2][5]. Auction Details - The second auction took place on June 6, with a starting price of 13.02 million yuan, attracting six bidders and resulting in a final price of 20.04 million yuan after 66 rounds of bidding and 63 extensions [2][4]. - The initial auction in February failed due to no bidders, with a starting price of 16.27 million yuan [3][5]. - The auction was initiated by a small shareholder, Xinzhou Group, due to a court execution related to a contract dispute [3][6]. Financial Implications - Gansu Financial Holdings' effective cost per share in this transaction is approximately 1.72 yuan, which is competitive compared to historical prices for similar transactions [5]. - If the transfer is completed, Gansu Financial Holdings will increase its stake in Hualong Securities from 19.45% to approximately 19.63% [5]. Shareholder Structure - A significant number of small shareholders of Hualong Securities face share freezes, totaling 437 million shares, which is 6.90% of the company's total equity [6][7]. - The frozen shares belong to shareholders holding less than 5% of the company, which does not significantly impact the control stability of Hualong Securities [7]. Company Performance - Hualong Securities reported a revenue of 1.32 billion yuan in 2024, with a net profit of 425 million yuan, reflecting a year-on-year growth of 10.26% and 31.79%, respectively [8]. - The brokerage and proprietary trading segments are the main revenue sources, with brokerage income at 515 million yuan and proprietary trading income at 470 million yuan, showing significant growth in the latter [9].