According to the website of the CSRC, the CSRC issued a document on March 24 approving China Chengtong Holding Group Co., Ltd. to become the main shareholder of new era securities and the actual controller of financing fund, and has no objection to the legal transfer of 2.859 billion shares of new era securities by China Chengtong Holding Group Co., Ltd. (accounting for 98.24% of the total shares).
Source: CSRC website
The CSRC said that new era securities should go through the formalities for the change of the above-mentioned equity according to law within 30 working days from the date of issuance of this reply.
The website of Beijing Equity Exchange announced earlier on December 14, 2021 that the “signing ceremony of equity transfer project of new era Securities Co., Ltd.” was successfully held in Beijing Equity Exchange on the same day.
The equity transferor (including the entrusting institution of the transferor) signed the property right transaction contract with China Chengtong Holding Group Co., Ltd., and China Chengtong acquired 98.24% of the equity of new era Securities Co., Ltd. New era securities takeover group, Huida asset custody Co., Ltd., new era Trust Co., Ltd. and China Chengtong attended the signing ceremony.
The CSRC announced on July 17, 2020 that it decided to take over new era Securities Co., Ltd., Guosheng Securities Co., Ltd. and Guosheng Futures Co., Ltd. from July 17, 2020 to July 16, 2021.
On July 16, 2021, the CSRC said that it decided to extend the takeover period of new era Securities Co., Ltd., Guosheng Securities Co., Ltd. and Guosheng Futures Co., Ltd. The CSRC said at that time that since the implementation of the takeover, it has steadily promoted the takeover and made positive progress, but the takeover task has not been completed. According to the provisions of Articles 11 and 62 of the regulations on risk disposal of securities companies, the CSRC decided to extend the takeover period of Xinshidai securities, Guosheng securities and Guosheng futures until July 16, 2022.
According to public information, China Chengtong is the first pilot enterprise of the SASAC to build a standardized board of directors and the first pilot enterprise of a state-owned asset management company. In February 2016, Tongcheng was identified as a pilot state-owned enterprise by the central government.
China Chengtong was founded in 1992 by the merger of material circulation enterprises directly under the former Ministry of materials of the people’s Republic of China. In 2005, SASAC identified China Chengtong as a pilot enterprise of state-owned assets management company, built a platform for state-owned assets reorganization and capital operation in accordance with market principles, and explored the path of market-oriented and professional operation and disposal of non main businesses and non-performing assets of central enterprises. By means of trusteeship and transfer of state-owned property rights, China Chengtong reorganized and integrated central enterprises such as China Huandao group, China Record Corporation, China International Enterprise Cooperation Corporation, Huacheng investment management company, China Packaging Corporation and China Business Enterprise Group Corporation, as well as several central enterprise subsidiaries such as 8 enterprises of Putian group, MCC paper company and charging asset package of Sinosteel.
