CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by

CITIC Securities CITIC Securities Co., Ltd. is a Chinese full-service investment bank. It offers services in underwriting, research, brokerage, asset management, wealth management, and investment advisory. CITIC Securities was established in 1995 and it is headq ...

and

China Jianyin Investment China Jianyin Investment Co., Ltd. (JIC) is a Chinese investment company owned by the government of the People's Republic of China. Founded in 2004, it is a wholly owned subsidiary of Central Huijin Investment and is an integrated investment group ...

in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company

Central Huijin Investment Central Huijin Investment Co., Ltd. is a Chinese investment company owned by the Central People's Government, government of the People's Republic of China. Established in 2003, it became a wholly owned subsidiary of China Investment Corporation, w ...

and an asset managing subsidiary of . The company registered in Hong Kong as a foreign incorporated company as China Securities Finance Co., Ltd. on 28 July 2016 and CSC Financial Co., Ltd. on 20 October, the latter was used in the

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

of CSC's

H share H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

. An unrelated company registered the name China Securities Co., Ltd. in Hong Kong in 2014 in order to prospecting the chance that CSC bought back the name. The unrelated company was filed for struck off for dormant (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.

History

ldChina Securities Co., Ltd. (1992–2005)

The predecessor of CSC Financial Co., Ltd. was incorporated in 1992 as China Securities Co., Ltd. (CSC) (). Huaxia Securities established a subsidiary in Hong Kong as China Securities (International) Limited in 1994Companies Register filings (the stake was at first held by Huaxia Securities' chairman Shao Chun () and CEO Deng Xi () as proxies; China Securities (International) became dormant since 2010). As at 31 December 2004,

state-owned enterprise A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...

Beijing State-owned Assets Management Co., Ltd. owned 29.82% stake of Huaxia Securities. The enterprise, which was a subsidiary of , also owned 33.87% stake of Beijing Securities, 20.07% stake of the Bank of Beijing, 46.67% stake of Beijing International Trust, 40.725% stake of China Asset Management () and the predecessor of insurance company Old Mutual – Guodian for 50.00% stake, making the enterprise owned several financial and non-financial associate companies as a mega conglomerate. However,

Hua Xia Bank Huaxia Bank Co., Ltd. is a publicly traded commercial bank in China. It is based in Beijing and was founded in 1992. Germany's Deutsche Bank holds 19.99% of the bank's shares as of 2010. In December 2015, it was announced that People's Insurance ...

, was partially owned by

Shougang Corporation Shougang Group Co., Ltd., formerly Shougang Corporation is a Chinese state-owned steel company. Based in Beijing, its the Shijingshan district operations were moved out of the city prior to the Olympics due to concerns over pollution. Its subs ...

(a direct subsidiary of State-owned Assets Supervision and Administration Commission (SASAC) of Beijing Municipal Government at that time) for 14.29% 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).

ewChina Securities Co., Ltd. (2005–)

A new firm with the same English trading name China Securities but different Chinese name () was established by

and

in 2005 and receiving the client from the old firm, but did not bear any legal responsibility of the old firm. In 2010, as

also had their own license, CITIC Securities was requested by

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government ministry of the State Council of the People's Republic of China (PRC). It is the main regulator of the securities industry in China. History China's first Securities Law was ...

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) CITIC Securities Co., Ltd. is a Chinese full-service investment bank. It offers services in underwriting, research, brokerage, asset management, wealth management, and investment advisory. CITIC Securities was established in 1995 and it is head ...

was kept as subsidiary,

Kington Securities Kington may refer to: Places England * Kington, Herefordshire * Kington, historical name of Kineton, Warwickshire ** Kington Hundred * Kington, Worcestershire * Kington Magna, Dorset * Kington Langley, Wiltshire * Kington St Michael, Wiltshi ...

was put on the market), which 45% stake was acquired by

Beijing State-owned Capital Operation and Management Center } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

(BSCOMC, ) for and 8% stake by

Century Golden Resources Group Century Golden Resources Group is a Chinese privately held real estate development company. It is headed by the Chinese billionaire Huang Rulun Huang Rulun (; born 1951) is a Chinese billionaire businessman. He is head of the privately held re ...

for through public offering on

Beijing Financial Assets Exchange } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

, making SASAC of Beijing Municipal Government returned as the largest shareholder. In the same year

transferred the stake its held to Jianyin Investment's parent company

, 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". () In 2016 Century Golden Resources Group sold most of its stake to

Shannan Jinyuan Shannan may refer to: Geographical regions *Shannan, Tibet (), prefecture-level city of the Tibet Autonomous Region, China *Shaannan (), or Southern Shaanxi, the southern part of Shaanxi province, China *Shannan Circuit (), a province of Tang Dyna ...

(4.92%) and Shanghai Shangyan (2.47%). 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 as China Securities (International) Finance Holding. The Hong Kong-based holding company itself also forming several subsidiaries. According to the company, China Securities was ranked 4th by underwriting 135 companies in

National Equities Exchange and Quotations The National Equities Exchange And Quotations (NEEQ) is a Chinese over-the-counter system for trading the shares of a public limited company () that is not listed on either the Shenzhen or Shanghai stock exchanges. The NEEQ exchange was also nickn ...

. In November 2016, China Securities started the global offering for its new

H shares H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

that would be floated on the

Stock Exchange of Hong Kong The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repo ...

. The Price was set at

HK$ The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and ...

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 was Glasslake Holdings, an indirect wholly owned subsidiary of CITIC Limited, which was the largest shareholder of

. In 2018, its A shares started to trade in the

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Exc ...

. The company became a constituent of

SSE 50 SSE 50 Index is the stock index of Shanghai Stock Exchange, representing the top 50 companies by "float-adjusted" capitalization and other criteria. In order to qualify as a constituent of SSE 50 Index, it must be a constituent of SSE 180 Index, t ...

, the blue chip index of that exchange in 2019.

Name

On 20 October 2016 China Securities registered its English name in Hong Kong's Companies Register as CSC 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 name ), as well as the present of unrelated company China Securities Holdings (), 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 the

Securities and Futures Commission The Securities and Futures Commission (SFC) of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. The SFC is responsible for fostering an orderly securities and futures market ...

of Hong Kong due to poor management. CSC Financial also used China Securities Finance Co., Ltd. as the registered name in Hong Kong from July to October 2016. However, it was in fact the trading name of another financial services company of the mainland China. The predecessor of CSC Financial, China Securities aka Huaxia Securities, was named after

Huaxia ''Huaxia'' (華夏, ) is a historical concept representing the Chinese nation, and came from the self-awareness of a common cultural ancestry by the various confederations of pre-Qin ethnic ancestors of Han people. Etymology The earliest ext ...

. The new Chinese name of China Securities since 2005, literally ''CITIC – Jianyin Investment Securities'', were in fact came from

China International Trust and Investment Corporation CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. ...

(the founder of

) and China Construction Bank (the short name of the bank in

pinyin Hanyu Pinyin (), often shortened to just pinyin, is the official romanization system for Standard Mandarin Chinese in China, and to some extent, in Singapore and Malaysia. It is often used to teach Mandarin, normally written in Chinese for ...

was Jiàn yín;

was a spin-off of Construction Bank)

Subsidiaries

* China Capital Management Co., Ltd. (100%) * China Fund Management Co., Ltd. (55%) * China Futures Co., Ltd. (100%) * China Securities (International) Finance Holding Co., Ltd. (100%)

Financial data

Rankings

2015 ranking within mainland China: * by total assets: 11th * by net assets: 14th * by operating income: 10th * by net profit: 10th * by return of equity: 15th * by net revenue of asset management (in group basis): 12th * by net revenue of investment banking (in group basis): 2nd * by net revenue of underwriting and sponsorship (in group basis): 3rd * by numbers of shares underwritten (in group basis): 2nd * by value of underwritten shares (in group basis): 3rd

References

External links

*
Official website of China Securities (International) Finance Holding
{{authority control Financial services companies of China Investment banks in China Investment management companies of China Government-owned companies of China Companies owned by the provincial government of China Financial services companies established in 2005 Banks established in 2005 Chinese companies established in 2005 Companies based in Beijing China Investment Corporation