Topic futures company gets 90 million capital increase! Shareholders equity securities companies are controlled by momo

category:Finance
 Topic futures company gets 90 million capital increase! Shareholders equity securities companies are controlled by momo


However, since this year, Huaxin futures has received a lot of good news. The joint-venture securities companies with shareholders of Huaxin securities have just been approved to hold foreign shares. The further involvement of Morgan Stanley, a well-known overseas investment bank, is expected to have a positive impact on Huaxin futures.

About to increase 90 million yuan

According to qixinbao data, Huaxin futures, formerly known as Shanghai Jincheng futures, was founded on December 23, 1992, and is one of the old domestic futures companies. In 2009, Huaxin securities acquired 51% equity of Jincheng futures. In January 2010, the company officially changed its name to Huaxin Futures Co., Ltd.. At the end of 2010, Huaxin securities obtained the remaining 49% equity of Huaxin futures from Shanghai Yidian, and Huaxin futures has since become a wholly-owned subsidiary of Huaxin securities.

Gradually out of the haze of punishment?

Due to the strategic arrangement of the shareholder Huaxin securities, Huaxin futures focuses on it technology services in the industry, and has a lot of characteristics in the trading system. In 2015, the company was rated BB in the classification evaluation of futures companies organized by the regulatory authorities, and its ranking rose to the level of the middle reaches of the industry.

However, the company has been negatively affected by a series of investigations and penalties around the ishton case since 2015. On October 31, 2017, Huaxin futures received the notice of investigation from CSRC, which showed that due to Huaxin futures suspected of violating securities and futures laws and regulations, CSRC decided to put Huaxin futures on file for investigation. On December 9, 2019, Huaxin Co., Ltd. announced that Huaxin futures was warned and confiscated of illegal income due to suspected violation of securities and futures laws and regulations one thousand and eight point nine Ten thousand yuan, and one thousand and eight point nine RMB 10000 fine, total two thousand and seventeen point eight Ten thousand yuan. Affected by this penalty, Huaxin futures ranks No. 132 in the industry with a classification rating of CCC in 2019.

The senior management team of Huaxin futures is also a bright spot. He Xiaobin, chairman of the company, is a veteran of the industry. He has been an executive of Guotai Junan Futures for nearly 10 years, emphasizing it construction. In June 2017, he served as the chairman of the board of supervisors and the chairman of the company since March 2019.

In addition, Wang Xiping, the director of the company since June 2017, has rich experience in financial it: Project Manager of Shanghai Futures Information Technology Co., Ltd. from September 2004 to July 2005; technical development manager of Shanghai Futures Information Technology Co., Ltd. from July 2005 to November 2006; general manager assistant of Shanghai futures information Technology Co., Ltd. from November 2006 to April 2011; 2 From April 2011 to November 2013, served as the deputy general manager of Shanghai Futures Information Technology Co., Ltd.; from November 2013 to April 2017, served as the general manager of Shanghai Futures Information Technology Co., Ltd. and the director of Shanghai Futures Exchange.

Joint venture securities companies held by momo

Morgan Stanley, a well-known overseas investment bank, holds shares of Morgan Stanley Huaxin securities, which makes it possible for Huaxin futures to take advantage of internationalization and accelerate its development.

On March 27 this year, Morgan Stanley announced that its shareholding in its joint venture securities firm (Morgan Stanley Huaxin securities) has been approved by the CSRC to increase to 51%. The number of domestic and foreign holding securities companies increased to 5.

Morgan Stanley Huaxin securities was jointly established in Shanghai in 2011. Its current business scope includes underwriting and recommendation of stocks and bonds, as well as self operation of bonds. According to the unaudited financial statements in 2019, the company achieved revenue of 132 million yuan and net loss of 109 million yuan in 2019. In its revenue structure, the net income of service charge of investment banking reached 99.4193 million yuan, accounting for about 75%. Some insiders said that Morgan Stanley chose to cooperate with Huaxin securities in that year, and also took a fancy to Huaxin futures, which is controlled by it.

In recent years, the company has fully relied on the resource advantages of shareholder capital, customers, brands, talents, technology, research, etc. through in-depth cooperation with Morgan Stanley, a leading financial service group in the world, and closely linked with the financial engineering expert team of famous universities in production, learning and research, and invested more than 12.5 million yuan to build the top domestic futures trading platform - the comprehensive technology trading level of the previous period Taiwan, formed a strong professional investment R & D service ability and information technology service ability, formed its own characteristics and established a brand in the industrial customer innovation value-added service, stock index futures business development, investor education. At present, the company has become one of the fastest-growing futures companies in the domestic futures industry, and has been widely concerned by the industry. Huaxin futures said on its website.

On July 20, 2019, the office of the financial stability and Development Commission of the State Council issued the relevant measures on further expanding the opening up of the financial industry to the outside world, which will advance to 2020 the time when the restrictions on foreign shares of securities companies, fund management companies and futures companies were originally set to be cancelled in 2021. As of January 1, 2020, the restrictions on the proportion of foreign shares of futures companies will be cancelled. The relevant entities can submit the application for administrative license to the CSRC in accordance with the regulations on the administration of futures trading, the measures for the supervision and administration of futures companies, the measures for the administration of foreign investment futures companies and other relevant provisions. The proportion of shares of futures companies held by qualified foreign investors can reach 100%. The CSRC will comply with the regulations according to law To be approved.

Foreign investment is changing the territory of Chinas financial industry, including the futures industry. On April 29, JPMorgan announced that, after consultation with the joint venture and relevant competent authorities, its futures and options business had submitted an application to China Securities Regulatory Commission, intending to increase its shareholding in JPMorgan Futures Co., Ltd. from 49% to 100%, and the first wholly foreign-owned futures company was about to break the ice.

According to incomplete statistics, there are currently three joint venture futures companies in China. In addition to JPMorgan futures, the other two are Galaxy futures and UBS futures. Among them, Galaxy futures is the first Sino foreign joint venture futures company in China, with Royal Bank of Scotland holding 16.68%; UBS futures is a wholly-owned subsidiary of UBS Securities, which is the first foreign-owned securities firm in China. There used to be a joint venture futures company in China, CITIC Xinji futures, which was absorbed and merged by CITIC futures and withdrawn by foreign investors in 2014.

Source: China responsible editor of securities company: Guo Chenqi, nbj9931