In fourteen years, holding hands in the end is "one different or two width"!Founder Securities intends to withdraw from Credit Suisse Securities, 49%of the equity price is 1.14 billion, and Credit Suisse takes over

On the evening of September 8th, Founder Securities (SH601901, a stock price of 6.9 yuan, and a market value of 56.8 billion yuan) issued an announcement saying that it has signed an agreement with Creditses and transferred 49%of Credit Suisse Securities (China) held by the transfer ) Equity.

Credit Suisse Securities is a securities company that Founder Securities and CITIC invested together in 2008. Before the transaction, Creditkin held 51%of Creditkin Securities, and the company held 49%of Creditses Securities. After the equity transfer is completed, Credit Suisse Securities will be wholly controlled by Credit.

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In fourteen years, holding hands in the end is "one or two widths"

As early as December 2, 2021, Founder Securities has announced that it will sell 49%of Credit Suisse Securities. Its purpose "is to revitalize the company's assets, reasonably allocate resources, and improve the efficiency of funds." After nine months, the transaction was finally about to land.

According to the assessment report issued by Zhonglian Assets Evaluation Group Co., Ltd., as of December 31, 2021, the total equity evaluation value of the shareholders of Creditkin Securities was 2.325 billion yuan, the appraisal value was 810 million yuan, and the value -added rate was 53.38%; The appraisal value of 49%equity of Creditic Securities was 1.139 billion yuan.

In the end, Founder Securities and CreditEss were based on the above evaluation results, and negotiated to determine that the equity transfer consideration was 1.14 billion yuan.

Tracing history, in 2008, Founder Securities and Credit Credit jointly invested in the establishment of Credit Suisse Securities. Founder Securities held 66.70%of the shares and 33.3%of Creditver's shareholding. In June 2020, after the non -public agreement increased the capital of CITIC Securities in a non -public agreement, Creditver held 51%of the shares, and Founder Securities held 49%. After the transfer was completed, Founder Securities completely withdrawn from Credit Securities, and Credit Suisse Securities has also become a foreign -funded holding securities company.

In the first half of this year, from profit to loss, net loss reached 104 million yuan

In recent years, foreign investment banks have been optimistic about the mainland capital market opportunities, and have changed Dongfeng in the Mainland through the capital market. However, from the current situation, foreign investment banks are still in their infancy in the Mainland.

The announcement of the Founder Securities also revealed the operations of Creditses in 2021 and the first half of 2022.

As of December 31, 2021, the net assets of Creditkin Securities were 1.516 billion yuan. In 2021, Creditic Securities realized operating income of 497 million yuan, and its net profit was 45.1858 million yuan.

Judging from the 2021 annual report, the investment banking business is the largest source of income from Creditkin Securities. The annual report shows that in 2021, Credit Suisse Securities realized a net income of investment banks of 251 million yuan. Among them, the company successfully completed the issuance of Zhejiang Huayang IPO as a sponsor and exclusive underwriter, with a distribution scale of 1.504 billion yuan. In addition, the company successfully completed the four -dimensional 4 billion non -public offering and SF Holdings 20 billion non -public offering projects.

But in the first half of 2022, Credit Suisse Securities changed from profit to losing. As of June 30, 2022, the net assets of CITIC Securities were 1.411 billion yuan. In the first half of this year, Credit Suisse Securities achieved operating income of 132 million yuan and a net loss of 104 million yuan.

Founder Securities also pointed out that because Credit Suisse Securities had lost 104 million yuan as of June 30, 2022, in accordance with the price adjustment mechanism agreed in the equity transfer agreement, the company is expected to recover at least 1.088 billion yuan in equity transfer. According to the company's preliminary estimation, such as the delivery date before December 31, 2022, the equity transfer will increase the company's net profit of about 290 million yuan this year; for example, after the delivery date on December 31, 2022, it is held by the company's equity law. The impact of the negative income of the equity of Creditkin Securities, this equity transfer will increase the annual net profit of the company's delivery date of not less than 290 million yuan.

Oriental Fortune CHOICE Financial terminal data shows that there are currently 247 employees in Credit Suisse Securities. After a complete foreign -funded holding, what changes will happen to the operating strategy of China ’s exhibition industry? It is worthy of continuing attention in the industry.

Daily Economic News

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