The investment banking business, bond underwriting business and new third board market-making business of CIC Securities have been transferred to CIC for unified management.
In the 20 18 annual report, CICC also expressed the progress of integration with CIC, which effectively promoted the deep integration with CIC in business, IT system, middle and back office and other fields. The two sides have carried out in-depth docking in four aspects of wealth management business, such as products, investment and research, training and marketing, and formed an effective cooperation mechanism and workflow. In addition, CIC Research Department has set up the second research department for CIC's securities research resources, focusing on providing quality investment consulting services for wealth management customers. Great progress has been made in collaborative commerce. In the middle and back office, CIC Securities has been incorporated into the group's comprehensive risk management system, and unified balance sheet management has been implemented, which has improved the efficiency of capital utilization; A system integration scheme was initially formed, and a unified reporting and resource sharing mechanism was established.
In 20 19, CICC will comprehensively promote the integration with CIC Securities, and promote the integration work in an orderly manner by setting up an integration working group. In terms of brand integration, according to the State Council's reply, the Group officially started the process of building CIC Securities into a unified platform for retail brokerage and wealth management of the Group, and realized the brand unification of parent and subsidiary companies.
CIC Securities was established in September 2005 by China Jiantou on the basis of purchasing securities assets related to the former Southern Securities. Since 2009, the equity of CIC Securities has been transferred to Central Huijin Company. Subsequently, the registered capital of the company was increased several times. From 20 1 1 year1/month, the company was officially renamed as CIC Securities. So far, the name "CIC Securities" has survived for less than eight years.
20 1 1 16 10, in October, CICC acquired central huijin's 100% equity to set up a subsidiary. On March 3 17, CIC Securities officially became a wholly-owned subsidiary of CIC.
20 18, although the whole market environment is depressed, the performance of CICC has increased significantly, making it a "standout", among which CIC Securities contributed a lot. According to the performance division of six branches of CIC, the contribution rate of CIC's income of 4.974 billion yuan to CIC's income is 26.83%.
According to the 20 18 annual report of CIC Securities, by the end of last year, the company had 10 branches and 206 securities business departments, which were distributed in 28 provinces, autonomous regions, municipalities directly under the central government and 5 cities with separate plans, covering the economically developed areas of the country such as the Pearl River Delta, the Yangtze River Delta, the Bohai Economic Zone, South China, Northeast China, North China, Central China and Southwest China.