Achieve two lines of consolidation in one year

The two banks will share the full resources of Ping An group through cooperation in the form of an independent entity.　　Ping An wants to be more consistent in brand image.　　Ping An group and deep development have maintained the status of listed companies, there is no any change in this state of mind. In the announcement of the integration plan for the deep development, China Ping An yesterday held a media conference call. In answer to this reporter about Ping an bank and the deep development of future business integration program, Ping An management said that the current announced plans are only two lines of initial integration of the first step, the two banks will be independent as the main body of the identity of the peace group to share all the resources.　　At the same time, Ping An to our correspondent said that in a year to complete the two lines of integration, but the specific time depends on the regulatory layer of the approval process.　　Yesterday after the return of China Ping ' an (601318) and the deep development of a (000001) early set bidding period hit trading, but then fell back, eventually rose 4.52% and 3.88% respectively, reported 48.61 Yuan and 18.19 yuan. For a year to complete the integration from the peace announcement of the integrated plan, in addition to the holding of Ping an bank 90.75% of the equity injected deep development, but also reserved 2.7 billion yuan of cash. Ping An's management said yesterday that the arrangement was mainly to take into account the demand for deep development capital, and that its future integration with Ping An bank might require cash. "If there is any excess that can be used to supplement the deep development of the capital adequacy ratio." "For journalists about the future business integration of two lines of questions, Ping An management said that the current release of the integration scheme is the first step of the initial integration of two lines, the next phase will involve specific business integration content, including outlets, personnel and so on."　　Ping An said that at present, the two banks are independent of the main body, both sides will be through the form of cooperation to share the resources of Ping An group, including the group's customer resources, channels, backup, centralized use of IT platform. Ping An management said that after the completion of the first step of the transfer of equity, the future of the deep development will be further integration of Ping An bank, deep development in due course can be taken, including but not limited to the absorption of the merger of Ping An bank and other applicable laws to achieve the way permitted. "We are trying to complete two lines of consolidation in a year, but the timing depends on regulatory approval." "Do not change the status of listed companies Ping An, said that the price of the transaction through the intermediary agencies, financial advisers to assess the future also through the ping ' an bank and the deep development of the shareholders ' meeting," will fully listen to the views of the small shareholders of Ping an bank. "According to management, there will be options for small and medium shareholders in the future, including cash options," but the final plan is still uncertain. "With regard to the possible impact of the integration of the parties concerned, ping An management said that the integration of the principle of stability, development, integration process will ensure the stability of two bank management and personnel."　　Ping An said that at present, China's financial market is in a period of high growth, there will be no foreign banks in the integration of large numbers of people lost. Peace is still disclosed, I hope in the brand image more consistent. At the same time, Ping An management stressed that the current ping ' an group and the deep developmentMaintain the status of listed companies, there is no idea to change this state. Market impact of short-term mergers and acquisitions efficiency of the reporter learned from a number of brokers to show that the agency for the acquisition of the basic affirmative attitude, recognition of the transaction for both sides long-term positive effect. GF Securities that, as of June 30, Ping An bank audited book net assets of 15.329 billion yuan, but in the acquisition of Ping An bank net assets of the pre-valuation of 29.1 billion, compared with the book value increase of 89.8%. "The increase in this estimate will greatly improve the price of ping An bank," he said.　　"The Guangdong Securities Research Report pointed out that although the merger does not affect the main business of Ping An, but will enhance China's safe profitability." Galaxy Securities believes that mergers and acquisitions can promote the long-term value of deep development: the expansion of asset scale, the expansion of the number of outlets and customers, the integration of headquarters and branch offices across the management costs are expected to reduce. But in the short term there is a corresponding cost of integration, "so the short term may be difficult to effect." "Galaxy Securities pointed out that the transaction also needs to be traded on both sides of the Board, shareholders meeting approval, and also need the relevant regulatory authority to approve." After the completion of the transaction, the two banks in the management of the unification and coordination of the need for running-in period, which may have a negative impact on cost and profitability.