拟赴港上市！这家A股券商大动作

Core Viewpoint - The company, Shouchao Securities, is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its capital strength and international competitiveness, reflecting the trend of Chinese securities firms expanding overseas [1][5][6]. Group 1: Listing Details - The proposed issuance will not exceed 25% of the total share capital post-issuance, with an option for an additional 15% through an over-allotment option [3]. - The pricing will be based on the latest audited net asset value per share, considering shareholder interests and market conditions, and will be determined through a market-oriented pricing mechanism [3][4]. - The issuance will include both a public offering in Hong Kong and an international placement, prioritizing cornerstone and strategic investors [3]. Group 2: Purpose of Fundraising - The funds raised will be used to increase capital, supplement working capital, and support the development of domestic and international securities-related businesses, enhancing market competitiveness and risk resilience [2][5]. Group 3: Market Context - The move to list in Hong Kong is part of a broader trend among Chinese securities firms, driven by fluctuations in domestic revenue and the growing demand for cross-border financing [6][7]. - The Hong Kong market is seen as a crucial platform for accessing international investors and capitalizing on opportunities related to Chinese companies going global [7][8]. Group 4: Business Performance - Since its A-share listing, Shouchao Securities has shown a recovery in revenue and net profit, with projected total revenue of 2.418 billion yuan and a net profit of 985 million yuan for 2024, marking year-on-year growth of 25.49% and 40.49% respectively [9]. - The company has established a differentiated development strategy focusing on asset management, wealth management, and investment banking, with asset management being a core strength [9][10].