1999, May 19, Southern Securities started Hongqiao Airport and replaced Qiongminyuan with Zhongguancun Technology;
In 2000, the underwriting business of Southern Securities ranked first in China, with 37 stocks being underwritten, and the total amount of funds raised was 2065438+ billion yuan, and all major business indicators were the first in the industry. The brokerage business also jumped to the third place in the industry; Total assets reached 36.82 billion yuan, and profits reached11690,000 yuan.
On 200 1, Southern Securities completed the issuance of chunlan shares, which is considered as its masterpiece by the industry. On February 25th of the same year, Southern Securities announced the success of capital increase and share expansion after divesting a large number of unsuccessful industrial investments accumulated in its early years. The registered capital increased from 654.38 billion yuan to 3.45 billion yuan. The old shareholders converted all the net assets of 654.38+665 million yuan as of June 30, 2000 into newly established joint-stock companies, and issued new shares at a premium price of 654.38+0 per share.
At the beginning of 200 1, Southern Securities focused on the development of entrusted wealth management business. 200 1 Shanghai Automobile, the largest shareholder of Southern Securities, signed a 400 million entrusted financial management contract with Southern Securities.
In 2002, Southern Securities signed a 300 million entrusted financial management contract with Huade Assets. Huade Asset Management Co., Ltd. is a wholly-owned company of Southern Securities. It was established in July 20001year with a registered capital of 300 million yuan and its registered place is Shanghai.
In August, 2003, Southern Securities published its unaudited balance sheets for 20001and 2002 in China interbank lending market. The entrusted assets of Southern Securities were 2.622 billion yuan in 2000, 4.592 billion yuan in 5438+0 in 2006 and 3 1.5 1 billion yuan in 2002. However, according to the current financial system of securities companies, financial management on behalf of customers belongs to off-balance-sheet business, and securities companies can completely put entrusted financial management business off-balance-sheet. Therefore, the true scale of entrusted financial management of Southern Securities has not been made clear by the market.
On June 5438+ 10, 2003, a large-scale credit crisis broke out in southern securities, and entrusted wealth management customers came to ask for investment principal and income. The life and death of Southern Securities hangs by a thread. At that time, the customer margin deposit of Nanzheng was about 8 billion yuan, and the scale of entrusted wealth management was also about 8 billion yuan.
On June 2, 2004, China Securities Regulatory Commission and Shenzhen Municipal Government announced the administrative takeover of Southern Securities Co., Ltd. due to the misappropriation of customers' reserve funds as high as 8 billion yuan and huge losses in self-operated business.
In February 2005, the central bank provided 8 billion yuan of refinancing to help Southern Securities pay the deposit.
On April 29, 2005, Southern Securities entered the liquidation stage, and its brokerage investment banking business was spun off and operated independently, and the whole package was reorganized by bidding.