Price difference between CITIC Securities and CITIC Construction Investment: 1. CITIC Jiantou was formerly known as Huaxia Securities, and was later jointly acquired by CITIC Securities and China Yin Jian, so CITIC Securities is one of the shareholders of CITIC Jiantou; 2. The business scope is different, and the business scope of CITIC Securities is wider than that of CITIC Jiantou; 3. CITIC Securities and CITIC Jiantou were established in different periods.

Many laymen, looking at the names of these two brokers, may simply think that CITIC Jiantou is a subsidiary of CITIC Securities.

The "CITIC" in CITIC Construction Investment Co., Ltd. does come from CITIC Securities. When it comes to the relationship between the two companies, there are many things to talk about.

At present, CITIC Securities still holds shares of CITIC Jiantou Securities, ranking the fourth largest shareholder, accounting for 5.58%.

Let's start with the 1990s.

In the 1990s, CITIC Securities was still a small player. At that time, there were three largest and best securities companies in the market: Huaxia Securities, China Southern Securities and Cathay Pacific Securities, which merged into the three largest securities companies in China.

Shen Pei of China Industrial and Commercial Bank, Shen Pei of China Agricultural Bank and Zhou of China Construction Bank respectively served as the chairmen or presidents of the three companies.

Huaxia Securities is a securities company established in 1992, which has been in the forefront of the industry in terms of securities trading volume, operating income and profit.

In the early days of the establishment of securities companies, most people came out of the banking system. At that time, customer deposits were regarded as bank deposits and companies could use them.

1993 5438+00 In June, the People's Bank of China called the directors of these three companies to hold a meeting in Beijing, and at the meeting, it was established that the securities companies should "turn securities and industries together". Subsequently, Huaxia Securities, together with other securities companies, started an industrial investment boom in full swing.

Soon Huaxia Securities set up an investment committee, proposing to fully blossom into oil wells, trade and real estate on the premise of ensuring its main business.

Huaxia Securities 1996 earned as much as 10 billion yuan. After 1996, the management found that a large amount of industrial investment seriously dragged down the company's performance and began to shrink the investment front.

When Shaochun ended his work in Huaxia Securities on 1999, what he left to the next operator was the misappropriation of huge margin and huge non-performing assets.

Later, Huaxia Securities established Huazheng Asset Management Company to separate these industrial assets from securities companies.