Movement Alert|CICC Rises 3.13% in Regular Trading, Three-in-One Restructuring Accepted by CSRC

Market Focus07-15

On July 15, CICC (03908.HK) rose 3.13% in regular trading, trading at HKD 21.84/share, with turnover of HKD 109 million.

On the news front, CICC announced on July 14 that the China Securities Regulatory Commission has officially accepted its application regarding the proposed three-in-one merger with Dongxing Securities and Cinda Securities. The company plans to issue A-shares to all A-share shareholders of both firms in a share-swap absorption merger, marking the first such triple consolidation case in the securities industry to enter the regulatory review stage.

In addition, CICC previously disclosed its H1 earnings forecast, projecting net profit attributable to shareholders of RMB 7.708 billion to RMB 8.227 billion, representing a year-over-year increase of 78% to 90%. The company attributed the strong performance to synergies across its six core business pillars, including investment banking, equities, and wealth management, alongside solid growth in its international operations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment