证监会对国信证券通过换股方式依法取得万和证券21.84亿股股份（占公司股份总数的96.0792%）无异 议。万和证券应当切实做好与国信证券的风险隔离，严格规范关联交易，严防利益冲突和输送风险。国 信证券应当会同万和证券按照报送证监会的初步整合方案确定的方向，在一年内制定并上报具体整合方 案，明确时间表，妥善有序推进整合工作。 对于收购万和证券的目的，国信证券此前表示，此次交易完成后，公司将充分发挥交易带来的协同作 用，对万和证券进行资源整合，同时利用万和证券注册地海南自由贸易港跨境金融服务试点的先发优 势，凭借公司自身突出的市场化能力及业务创新能力，进一步提升公司综合盈利水平。 2024年8月21日，国信证券发布《关于筹划发行股份购买资产事项的停牌公告》，披露收购万和证券的 初步计划，又一起证券业合并重组案例进入投资者视线。此后，国信证券更新收购方案，计划向深圳市 资本运营集团有限公司、深圳市鲲鹏股权投资有限公司、深业集团有限公司、深圳市创新投资集团有限 公司、深圳远致富海十号投资企业（有限合伙）、成都交子金融控股集团有限公司、海口市金融控股集 团有限公司7名对象发行股份收购万和证券96.0792%股份，交易 ...

Core Viewpoint - The merger between Western Securities and Guorong Securities has been officially approved by regulatory authorities, marking a significant development in the securities industry consolidation efforts [1][2]. Company Summary - Western Securities has acquired a 64.5961% stake in Guorong Securities, amounting to 1.151 billion shares, with the approval from the China Securities Regulatory Commission (CSRC) [2][3]. - The integration process will require both companies to establish risk isolation, regulate related transactions, and prevent conflicts of interest [2]. - The merger process has taken 14 months, initiated by Western Securities' announcement in June 2024 regarding its intention to acquire Guorong Securities for a cash payment of 3.825 billion yuan [3]. Industry Summary - The securities industry is witnessing a trend of mergers and acquisitions, with several firms like Guolian Minsheng and Guotai Haitong completing their mergers this year [4]. - The merger between Western Securities and Guorong Securities is expected to enhance asset scale and business strength, with Western Securities' total assets projected to reach 104.784 billion yuan by the end of 2024 [4]. - Analysts predict that the trend of consolidation in the securities industry will continue, driven by increasing competition and policy support, allowing firms to enhance their scale and competitive advantage through mergers [5].

从当年被外资大股东增持的"香饽饽"到连年亏损的交易标的， 瑞信证券曾意图在投行业务大展身手，也曾承揽一些股权承销 及保荐、债券发行项目。如今，瑞银证券近17年的故事画上了 句号，"北京证券"启幕。 作者：牛钰 封图：图虫创意 7月23日，方正证券（601901.SH）公告称，瑞信证券于7月23日完成股权变动的工商变更登记，公 司不再持有瑞信证券股权。 上述公告称，瑞信证券已更名为北京证券有限责任公司（下称"北京证券"）。 这起历时近一年的股权出售案落幕，北京市国有资产经营有限责任公司（下称"北京国资公司"）成 为北京证券的第一大股东以及实际控制人，直接持股比例为85.01%；原控股股东瑞银集团的持股 比例则降低至14.99%，成为第二大股东。 别了，瑞信证券 瑞信证券诞生于2008年10月24日，是由瑞士信贷银行与方正证券共同发起设立的合资证券公司。 成立之初，该公司名为"瑞信方正证券有限责任公司"，注册资本8亿元，瑞士信贷银行和方正证 券，持股比例分别为33.30%、66.70%。2021年6月，其更名为"瑞信证券"。 受限于资本金稀缺、国内市场竞争力等问题，瑞信证券似乎在发展上"水土不服"。 瑞信证券披露 ...

Group 1 - The core point of the news is that Zheshang Securities has become the controlling shareholder of Guodu Securities following a successful merger, marking a significant milestone in the two-year integration process [1][2] - The merger is the first market-driven acquisition case initiated by the securities industry after the Central Financial Work Conference, and it represents a new model for mergers and acquisitions in the industry [2][3] - The restructuring signifies a transition from capital integration to governance integration, with Zheshang Securities injecting market-oriented governance into Guodu Securities [2] Group 2 - The recent merger activity in the securities industry is part of a broader trend supported by government policies aimed at fostering the development of first-class investment banks and institutions [3][4] - The Central Financial Work Conference and subsequent regulatory opinions have emphasized the importance of mergers and acquisitions for enhancing the competitiveness of leading institutions in the securities sector [3][4] - Other notable mergers in the industry include Xiangcai's acquisition of Dazhihui and Guosen's acquisition of Wanhua Securities, indicating a trend towards consolidation among both large and small firms [4]