Southwest Securities or Chongqing financial holding platform

Following the 2009 shell listing and 2010 implementation of 6 billion yuan directional additional, Southwest Securities (600369) again out of the punch. On March 1, after a sudden suspension and triggered a lot of speculation in the market, Southwest Securities issued in the evening of 4th announcement, March 4 company and Capital Securities signed the "Southwest Securities Co., Ltd. and the capital of the capital Securities Limited liability company significant reorganization letter of intent," since the March 7 stock continued to suspend business 30th.　　Wang Zhulin, president of Southwest Securities, said in an interview with the Chinese securities newspaper that if the trip was successful, the restructuring would be a comprehensive strategic partnership of equity and business level. Complementary data show that the Southwest Securities currently registered capital of 2.3 billion yuan, net assets of more than 11 billion yuan, the number of business outlets 39 (there are two in the preparation of), last year, the volume of 41, the capital of 2.6 billion yuan securities, net assets of more than 6 billion yuan, the number of business outlets 23, Last year, trading volume ranked more than 50.　　The combined calculation of the net assets of more than 17 billion yuan, the number of outlets 64, brokerage business market share will enter the top 25, comprehensive strength is expected to enter the industry's first echelon. Why did Southwest securities choose Capital Securities for major restructuring? In this respect, Southwest Securities President Wang Zhulin said, Southwest Securities headquarters in Chongqing, the number of outlets in the middle of the industry level, and the region more concentrated in the south, according to the strategic objectives of the Southwest securities, in the future to become a foothold in Chongqing, the layout of the country's large brokerages, and gradually build a full license "financial And the headquarters of the capital Securities in Beijing, business outlets and business concentrated in the north, the two sides can achieve the north-South regional integration, while the overseas business and innovation business Development, the two business structure has a strong complementarity, if the integration process can play their respective advantages, will realize 1+1>　　2 Synergy effect.　　Southwest Securities 2010 Quarterly bulletin shows that the company's money and the value of the financial assets can be sold to a total of about 10 billion yuan, sufficient funds, with strong external expansion and expansion capacity. Wang Zhulin said that the capital securities have always been the idea of a separate IPO, and the reorganization of the Southwest securities is also the path of faster development of the capital securities, the reorganization of the two sides is a total win, there is no outside said "who Eat who" problem, is an innovative mode of cooperation.　　For the south-western securities, alliances and using the capital market to seek the leap-forward development is the established strategy, but the specific reorganization mode also needs to consider the interests of both shareholders, employees, clients and so on, under the conditions of meeting the requirements of regulatory compliance.　　The money comes from the additional last year, Southwest Securities in the implementation of directional additional, on the investment to raise funds has been clear to include timing securities related assets, set up or holding futures companies and fund management companies, timely expansion of international business, so the reorganization of the securities with the capital is also early in the company's strategic steps. Southwest Securities is not only the only securities company in Chongqing, but also a handful of local SASAC controlCity brokerage. In recent years, Chongqing actively constructs the Yangtze River upstream region Financial center, the financial industry develops rapidly, the financial industry increase value occupies the GDP the proportion to rank the national forefront, but the Chongqing SASAC Enterprise assets Total amount reaches 1.25 trillion yuan, becomes the national state-funded system fourth to step into "trillion state capital" the province. In the "5 key points" of the development of the securities market, Zhongqing pointed out that to foster the domestic first-class securities companies and fund management companies, the Southwest securities were promoted to the top ten in the country. Not only that, the industry analysis, the future of Southwest securities is very likely to become Zhongqing financial holding platform, the integration of local banks, trusts and other financial resources.　　Chongqing municipal government last year also made a request to the company, hope that three years to make the market value of 100 billion yuan, the current total market value of Southwest Securities is less than 30 billion, so through external expansion and joint restructuring to achieve bigger and stronger is the best choice for Southwest securities. At present, the strategic cooperation in the business level of China's securities companies is very common, but the reorganization cooperation in equity or asset level has rarely happened. Wang Zhulin, president of Southwest Securities, said that the future in the context of China's economic restructuring, through equity joint and asset integration to generate benefits is an important trend, which is supported by the State, Southwest Securities also hope that through the reorganization and integration of brokerages to carry out a new development model exploration.