China Cinda Asset Mgmt Co Ltd

1359.HK▲

CSRC approves CICC's absorption merger with Dongxing Securities and Cinda Securities

The China Securities Regulatory Commission has formally approved CICC's absorption merger with Dongxing Securities and Cinda Securities, clearing CICC's registration application to issue 3,104,121,159 new shares to absorb the two brokerages. Upon completion of the merger, Dongxing Securities and Cinda Securities will be dissolved in accordance with the law, and their existing branches will be converted into CICC branches. The approval also endorses Orient Asset Management becoming a major shareholder of CICC, raising no objection to Orient Asset Management lawfully acquiring 636,533,171 CICC shares, representing 8.03 percent of CICC's total post-issuance share capital. It also endorses Cinda Asset Management becoming a major shareholder of CICC, raising no objection to Cinda Asset Management lawfully acquiring 1,329,279,400 CICC shares, representing 16.76 percent of CICC's total post-issuance share capital. In addition, the CSRC has approved CICC becoming the major shareholder of Dongxing Fund and Cinda Australia Fund, and approved the controlling shareholder of Dongxing Futures and Cinda Futures being changed to CICC, with a 100 percent shareholding.

601995.CG ▲1359.HK ▲601198.CG

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ST Meigu Wins Final Appeal as Guangdong High Court Dismisses Lawsuit by Kinghand Holdings and Others

ST Meigu announced that the Guangdong Provincial High Court has issued a final appellate ruling dismissing the lawsuit brought by Kinghand Holdings Group Company Limited, Tian Han, and Li Li against the company. The case originated from the three plaintiffs filing a suit over tort liability disputes, seeking a judgment that Shenzhen Aoyuan Kexing Investment Company Limited, ST Meigu, China Cinda Guangdong Branch, Aoyuan Group, and China Aoyuan colluded to pursue guarantee debts from them, and demanding compensation for uncollected guarantee fee losses of 45.98 million yuan. Meanwhile, the Guangdong High Court ruled that the Guangzhou Intermediate Court should continue hearing the lawsuit by Kinghand Holdings, Tian Han, and Li Li against China Cinda Guangdong Branch and China Aoyuan Group Company Limited. In the first quarter of 2026, ST Meigu reported revenue of 148 million yuan and a net loss attributable to the parent company of 216 million yuan.

1359.HK 3883.HK

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1359.HK▼

China Cinda expects first-half net profit attributable to shareholders to fall about 60% to 70% year-on-year

China Cinda issued an announcement, expecting net profit attributable to shareholders in the first half of 2026 to decline by about 60% to 70% year-on-year, while net profit for the same period is expected to fall by about 20% to 25% year-on-year. The company explained that the decline in performance was mainly due to income tax expense shifting from a reversal in the first half of 2025 to a provision in the first half of 2026, affected by changes in deferred income tax expenses and an increase in current taxable income. In addition, subsidiary Cinda Real Estate is expected to narrow its losses year-on-year, leading to a year-on-year decrease in losses attributable to non-controlling interests, which further dragged down net profit attributable to shareholders of the company.

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