 | |||||
| China Securities | |||||
| Company type | Public | ||||
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| ISIN | CNE100002B89 | ||||
| Industry | Financial services | ||||
| Predecessor | China Securities Co., Ltd. | ||||
| Founded | 2005 | ||||
| Founder | |||||
| Headquarters | Beijing ,China | ||||
Area served | Mainland China, Hong Kong | ||||
| Services | |||||
| Revenue |  CN¥ 29.49 billion[1] (2022) | ||||
| CN¥ 9.99 billion[1] (2022) | |||||
| CN¥ 7.51 billion[1] (2022) | |||||
| Total assets |  CN¥ 509.96 billion[1] (2022) | ||||
| Total equity | CN¥ 93.29 billion[1] (2022) | ||||
| Owner |
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Number of employees | 12,294[2] (2022) | ||||
| Website | www.csc108.com | ||||
| Footnotes / references In a consolidated basis InChinese accounting standards | |||||
| CSC Financial Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中信建投证券股份有限公司 | ||||||
| Traditional Chinese | 中信建投證券股份有限公司 | ||||||
| Literal meaning | CITIC – Jianyin Investment Securities Company Limited by Shares | ||||||
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| China Securities | |||||||
| Simplified Chinese | 中信建投证券 | ||||||
| Traditional Chinese | 中信建投證券 | ||||||
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CSC Financial Co., Ltd. trading asChina Securities, is a Chinese investment bank and brokerage firm established byCITIC Securities andChina Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankruptedChina Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent companyCentral Huijin Investment and an asset managing subsidiary ofBeijing Municipal People's Government.
The company registered in Hong Kong as a foreign incorporated company asChina Securities Finance Co., Ltd. on 28 July 2016 andCSC Financial Co., Ltd. on 20 October, the latter was used in theIPO of CSC'sH share. An unrelated company registered the name China Securities Co., Ltd. in Hong Kong in 2014[3] in order to prospecting the chance that CSC bought back the name. The unrelated company was filed for struck off for dormant[3] (and would be dissolved) by Hong Kong's Companies Register using the power of Chapter 622 Section 745 2.(b) of Hong Kong Law in September 2016.[4]
The predecessor ofCSC Financial Co., Ltd. was incorporated in 1992 asChina Securities Co., Ltd. (CSC) (Chinese:华夏证券;pinyin:Huáxià zhèngquàn;lit. 'Huaxia Securities'). Huaxia Securities established a subsidiary in Hong Kong asChina Securities (International) Limited in 1994[3] (the stake was at first held by Huaxia Securities' chairman Shao Chun (Chinese:邵淳) and CEO Deng Xi (Chinese:邓其) as proxies;[5] China Securities (International) became dormant since 2010[3]).
As of 31 December 2004,state-owned enterpriseBeijing State-owned Assets Management Co., Ltd. owned 29.82% stake of Huaxia Securities. The enterprise, which was a subsidiary of Beijing Municipal People's Government, also owned 33.87% stake ofBeijing Securities, 20.07% stake of theBank of Beijing, 46.67% stake of Beijing International Trust, 40.725% stake ofChina Asset Management (Chinese:华夏基金管理;lit. 'Huaxia Fund Management') and the predecessor of insurance company Old Mutual – Guodian for 50.00% stake, making the enterprise owned several financial and non-financialassociate companies as a mega conglomerate.[6] However,Hua Xia Bank, was partially owned byShougang Corporation (a direct subsidiary ofState-owned Assets Supervision and Administration Commission (SASAC) of Beijing Municipal Government at that time) for 14.29%[7] and other companies instead.
However, after several scandal which the staff illegally made investment without the consent of their client, Huaxia Securities went bankrupted (as in 2016 the firm was still being liquidated).
A new firm with the same English trading nameChina Securities but different Chinese name (Chinese:中信建投证券;lit. 'CITIC Jianyin Securities') was established byCITIC Securities andChina Jianyin Investment in 2005[8] and receiving the client from the old firm, but did not bear any legal responsibility of the old firm.
In 2010, asCITIC Securities also had their own license, CITIC Securities was requested byChina Securities Regulatory Commission to sell all but one subsidiary, including China Securities Co., Ltd. (CITIC Securities was allowed to keep at most kept 7% stake of CSC;CITIC Securities (Shandong) was kept as subsidiary, Kington Securities was put on the market),[9] which 45% stake was acquired byBeijing State-owned Capital Operation and Management (BSCOMC,Chinese:北京国有资本经营管理中心) forCN¥7.290 billion and 8% stake byCentury Golden Resources Group for CN¥1.296 billion through public offering on Beijing Financial Assets Exchange,[10] making SASAC of Beijing Municipal Government returned as the largest shareholder. In the same yearChina Jianyin Investment transferred the stake its held to Jianyin Investment's parent companyCentral Huijin Investment, a subsidiary of the State Council of the People's Republic of China. In 2011 China Securities was reincorporated as a "company limited by shares". (Chinese:股份有限公司) In 2016 Century Golden Resources Group sold most of its stake to Shannan Jinyuan (4.92%) and Shanghai Shangyan (2.47%).[11]
In 2007 China Securities acquired the remaining stake of China Futures Co., Ltd. from other shareholders.
On 12 July 2012 China Securities re-established its Hong Kong subsidiary asChina Securities (International) Finance Holding.[3][12] The Hong Kong-based holding company itself also forming several subsidiaries.
According to the company, China Securities was ranked 4th by underwriting 135 companies inNational Equities Exchange and Quotations.[13]: 16
In November 2016, China Securities started the global offering for its newH shares that would be floated on theStock Exchange of Hong Kong. The Price was set atHK$ 6.81. Cornerstone investors subscribed 57.38% of the H shares, which equal to 9.47% total share capital of CSC. The largest H share shareholder wasGlasslake Holdings, an indirect wholly owned subsidiary ofCITIC Limited, which was the largest shareholder ofCITIC Securities.[14]
In 2018, itsA shares started to trade in theShanghai Stock Exchange.[15] The company became a constituent ofSSE 50, the blue chip index of that exchange in 2019.[16]
On 20 October 2016 China Securities registered its English name in Hong Kong's Companies Register asCSC Financial Co., Ltd.. Its original English trading name which was used in mainland China,China Securities Co., Ltd., was already registered by others in Hong Kong on 21 May 2014 (but with different Chinese nameChinese:中國證券國際), as well as the present of unrelated company China Securities Holdings (Chinese:中國証券控股), a small brokerage firm which used the name since 27 February 2012. Despite both companies were now being dissolved: China Securities Holdings ceased business on 31 December 2012 and the former staff was suspended by theSecurities and Futures Commission of Hong Kong due to poor management.[17]
CSC Financial also usedChina Securities Finance Co., Ltd. as the registered name in Hong Kong from July to October 2016. However, it was in fact the trading name ofanother financial services company of the mainland China.
The predecessor of CSC Financial, China Securities aka Huaxia Securities, was named afterHuaxia.
The new Chinese name of China Securities since 2005, literallyCITIC – Jianyin Investment Securities, were in fact came fromChina International Trust and Investment Corporation (the founder ofCITIC Securities) andChina Construction Bank (the short name of the bank inpinyin was Jiàn yín;China Jianyin Investment was a spin-off of Construction Bank).
| Year | Revenue | Profit | Assets | Equity |
|---|---|---|---|---|
| 2005[18] | 39 million | (195 million) | 9.243 billion | 2.504 billion |
| 2006 (restated)[19] | 1.690 billion | 315 million | 23.295 billion | 2.820 billion |
| 2007[19] | 7.741 billion | 2.450 billion | 63.794 billion | 5.365 billion |
| 2008[20] | 4.130 billion | 1.739 billion | 35.818 billion | 5.214 billion |
| 2009[21] | 6.082 billion | 2.617 billion | 66.005 billion | 7.310 billion |
| 2010[22] | 5.681 billion | 2.161 billion | 68.104 billion | 9.426 billion |
| 2011[23] | 4.000 billion | 1.212 billion | 48.506 billion | 10.500 billion |
| 2012[24] | 4.430 billion | 1.342 billion | 49.885 billion | 11.935 billion |
| 2013[25] | 5.650 billion | 1.787 billion | 67.410 billion | 13.091 billion |
| 2014[26] | 8.587 billion | 3.407 billion | 123.406 billion | 16.669 billion |
| 2015[13] | 19.011 billion | 8.639 billion | 183.188 billion | 30.106 billion |
| 2016 |
2015 ranking within mainland China:[27]
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