July 18

CICC officially embarked on the way back to A, CEO: Back to A due to scale and other considerations

CICC officially embarked on the way back to A, CEO: Back to A due to scale and other considerations
On April 3, the Beijing Securities Regulatory Bureau updated the basic information of the tutoring enterprises, and the “Investment Noble” China International Capital Corporation (hereinafter referred to as “CICC”, 3908.HK) After announcing the proposed application for A-share issuance, Oriental Citi Securities Co., Ltd., China Galaxy Securities Co., Ltd. and CICC signed a counseling agreement on the initial public offering of A-shares and listing on the main board of the Shanghai Stock Exchange on March 4.  In the previous CICC performance announcement, for the company’s plan to return to the A, CICC CEO Huang Zhaohui explained that the company announced the issuance of A shares for listing due to scale and other considerations.  Huang Zhaohui said that for CICC, the scale is still a short board, and the lack of key resources restricts the company’s development.Currently, the company is in a strategic investment period. Although market share and per capita income are important, market share is the first priority during the strategic investment period. Both revenue growth and ROE are important, but revenue growth is the first priority during the strategic investment period.  Huang Zhaohui revealed that the funds raised will be used to increase the company’s capital and supplement operating funds to support the company’s domestic and foreign business development, including improving core business capabilities, expanding the size of emerging businesses, and further strengthening financial technology, internationalization and other strategiesInvest in the field and grasp the strategic M & A plan in a timely manner.  Information shows that CICC was established in 1995 and is the first domestic joint venture brokerage with registered capital of 43.6.9 billion yuan.According to data from the China Securities Regulatory Commission, as of October 2019, the company’s major shareholders include Tencent Mobility Limited, Alibaba Group Holding Limited, TPG Asia V Delaware, L.P., Mingli Group Holdings Limited, JPMorgan Chase & Co., OppenHeimerFunds, Inc.And other public shareholders.  According to CICC’s 2019 annual report, CICC’s total assets reached 3449 at the end of 2019.700 million yuan, an increase of 25.5% from the end of 20183%; net assets reach 482.RMB 900 million, an increase of 14. compared with the end of 20185%; total realized income and other income 227.800 million yuan, an increase of 22.9%; realized net profit 42.400 million yuan, an increase of 21.4%; weighted average return on net assets 9.6%.  From the perspective of income structure, the data released by CICC shows that CICC’s net income in 2019 (Note: deducting interest expenses) 168.8.7 billion yuan, an increase of 24% over the previous year.Among them, wealth management income accounted for the highest proportion, accounting for 23%, followed by investment banking income, accounting for 22%, stock business income accounted for 21%, fixed income income accounted for 16%, investment management income accounted for 12%, other incomeIt accounts for 7%.  From the perspective of domestic and foreign net income, the proportion of overseas net income has increased in 2019, achieving overseas net income of 41.2.4 billion yuan, accounting for 24%, a year-on-year increase of 42%; the net income in the mainland is still the main source of income for CICC, and the net income in the mainland will be 127 in 2019.6.3 billion yuan, an increase of 19% over the previous year.Reporter Zhang Siyuan Editor Sun Yong Proofreading Wei Zhuo


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Posted 07/18/2020 by admin in category "洗浴