Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  CITIC Securities Company Limited    600030   CNE000001DB6

End-of-day quote. End-of-day quote  - 09/28
16.06 CNY   -0.43%
09/27 Fresh curbs loom on developers' bonds
09/26 P2P lender Lufax taps four banks for Hong Kong IPO
09/19 Fresh curbs loom on developers' bonds
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

CITIC Securities Company Limited : ANNOUNCEMENT - relating to(1) the Proposed Acquisition of 10% Shareholding Inter..

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/21/2013 | 04:05pm CEST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 6030) ANNOUNCEMENT relating to (1) the Proposed Acquisition of 10% Shareholding Interest in China AMC and (2) the Proposed Reorganization and Split of a Wholly-owned Subsidiary Named CITIC Securities (Zhejiang)

This announcement is made pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) (the "Hong Kong Listing Rules") under Part XIVA of the Securities and Futures Ordinance (Cap. 571) and Rule 13.09 of the Hong Kong Listing Rules.
On 21 May 2013, resolutions were approved by way of written resolutions by the 14th meeting of the 5th Session of the board of directors (the "Board") of CITIC Securities Company Limited (the "Company"), pursuant to which resolutions relating to the proposal of acquiring 10% shareholding interest in China Asset Management Co., Ltd. ("China AMC") (the "Proposed Acquisition") and the proposed reorganization and split (together, the "Reorganization and Split") of a wholly-owned subsidiary of the Company named CITIC Securities (Zhejiang) Co., Ltd. ("CITIC Securities (Zhejiang)") were approved.

I Proposed Acquisition of 10% Shareholding Interest in China AMC by the Company Transaction Summary

On 23 April 2013, Wuxi Guolian Development (Group) Company Limited ("Wuxi Guolian") listed its 10% shareholding interest in China AMC for public sale in the Wuxi Property Exchange with a quoted price of RMB1.6 billion. It was agreed by the Board that the Company placed a bid for the 10% shareholding interest in China AMC held by Wuxi Guolian (the "Subject Shareholding Interest") at a price of not higher than RMB2 billion (inclusive of RMB2 billion). As of the cut-off time for such shareholding interest bidding on 21 May 2013, only the Company placed a bid to the Wuxi Property Exchange with a quoted price of RMB1.6 billion. Upon completion of the acquisition and relevant transfer procedures, the Company will hold an aggregate of 59% shareholding interest in China AMC.

1

As the applicable percentage ratios relating to the Proposed Acquisition exceed 5% but are less than 25%, the Proposed Acquisition, if concluded, will constitute a discloseable transaction for the Company under Chapter 14 of the Hong Kong Listing Rules, and the transaction will be subject to the approval of the China Securities Regulatory Commission.
As at the date of this announcement, the Company has not entered into any equity transfer contract or other legal document with Wuxi Guolian.

Background of the Counterparty to the Transaction

For the purpose of the transaction, the transferor of the Subject Shareholding Interest is Wuxi Guolian, a corporation solely owned by the State and under the supervision of the Wuxi State-owned Assets Supervision and Administration Commission, with registered capital of RMB8 billion. Its scope of business includes capital and assets operation, investment agency, investment advisory and investment services. According to the Hong Kong Listing Rules, Wuxi Guolian is an independent third party to the Company.

Basic Information of the Transaction Subject

The transaction subject is the 10% shareholding interest in China AMC. China AMC was established in 1998 with registered capital of RMB238 million. Its scope of business includes placement and sales of funds, assets management and other businesses as approved by the China Securities Regulatory Commission. As at the date of this announcement, the Company holds 49% shareholding interest in China AMC.
According to the "Audit Report" issued by Ernst & Young Hua Ming LLP, a qualified participant in the securities and futures industry, the realized operating income and the realized net profit of China AMC as the parent company for 2012 was RMB2,418,818,055.71 and RMB601,809,005.64 respectively. As at 31 December 2012, the total assets, the total liabilities and the net assets of China AMC as the parent company was RMB3,310,861,944.83, RMB663,782,041.65 and RMB2,647,079,903.18 respectively, and the book value of the Subject Shareholding Interest was RMB264,707,990.32.
Wuxi Guolian has retained E:rtt1È·ft

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CITIC SECURITIES COMPANY L
09/27 Fresh curbs loom on developers' bonds
09/26 P2P lender Lufax taps four banks for Hong Kong IPO
09/19 Fresh curbs loom on developers' bonds
09/06 CITIC SECURITIES : Buys Assets from Far Eastern Horizon Arms
08/25 CITIC SECURITIES : H1 Net Down 58%
08/19 CITIC SECURITIES COMPANY LIMITED : ex-dividend day for annual dividend
08/17DJAsian Shares Mixed as China Approves Trading Link
08/06 CITIC SECURITIES : Sec July net profit down 37% to Rmb947m
08/05 CITIC SECURITIES : 20 Listed Brokers July Net Profits Down 37.15% YoY
07/25 CITIC (00267) sees interim net profit down 40-50%
More news
Sector news : Investment Banking & Brokerage Services - NEC
05:15pDJSolarCity Names Finance Chief, in Solar Funds Venture
04:26pDJE*TRADE FINANCIAL : Nationwide to Acquire Annuities Company Jefferson National
02:26pDJNo First-Day Pop for Postal Savings Bank of China
01:56pDJChina's Postal Savings Bank Fails to Inspire on First Day of Trading -- Updat..
01:47p Deutsche gets lift from $1.2 billion sale of Abbey Life to UK's Phoenix
More sector news : Investment Banking & Brokerage Services - NEC
News from SeekingAlpha
04/28 ASHR Might Finally Be Staging A Turnaround
2015 Corruption, Market Turbulence Kill Citic's Russell Bid
Advertisement
Financials ( CNY)
Sales 2016 40 455 M
EBIT 2016 19 393 M
Net income 2016 13 342 M
Debt 2016 -
Yield 2016 2,46%
P/E ratio 2016 13,46
P/E ratio 2017 10,71
Capi. / Sales 2016 4,74x
Capi. / Sales 2017 4,13x
Capitalization 191 610 M
More Financials
Chart CITIC SECURITIES COMPANY L
Duration : Period :
CITIC Securities Company L Technical Analysis Chart | 600030 | CNE000001DB6 | 4-Traders
Full-screen chart
Technical analysis trends CITIC SECURITIES ...
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 18,2  CNY
Spread / Average Target 13%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ming Hui Yang General Manager & Executive Director
Bo Ming Cheng President & Executive Director
Jun Ni Chairman-Supervisory Board
You Jun Zhang Chairman
Wei Min Ju Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CITIC SECURITIES COMPA..-17.73%28 393
GOLDMAN SACHS GROUP IN..-9.62%65 474
MORGAN STANLEY-1.45%59 323
CHARLES SCHWAB CORP-6.68%40 299
GUOSEN SECURITIES CO L..--.--%19 733
HUATAI SECURITIES CO.,..-10.34%17 950
More Results