Secondly, they are complementary. The advantages of international investment banks, high-quality customers of central enterprises and state-owned enterprises, and the expert team of mergers and acquisitions and restructuring financial consulting business have enabled CICC to have strong financial innovation capabilities. This is beyond the reach of other securities companies in the short term. CIC Securities also has its own business advantages. By the end of 20 15, after the merger of the existing 160 business department and CIC National Sales Co., Ltd., CIC will be able to take advantage of the cross-regional advantages of CIC's securities outlets, develop new business segments, tap high-net-worth people and institutional customers, and share the pie in the wealth management and investment management market. At the same time, CIC can also use the international window of CIC to provide various services in Hong Kong and other securities markets. In addition, the joint efforts of CIC and CIC to enjoy enterprise resources can also improve the situation of insufficient investment bank project reserves. CIC can also learn from CIC's excellent experience in overseas mergers and acquisitions to improve the professional level of its employees.
In the process of the merger of two large securities companies, will the change of management, the reorganization and optimization of organizational structure and the complex organizational relationship have a negative impact on the operating efficiency of the companies? In the specific business restructuring after the merger, is CIC willing to put down its arrogance and merge with the prudent CIC Securities? Under the pragmatic soil, can CIC's securities team accept CIC with inherent advantages and realize the integration of the two in corporate culture? Should they use each other's customer base in areas such as stock sales and trading, fixed income and wealth management? Various problems remain to be seen, but I think that before the merger of Shenwan and Hongyuan, Huijin has summed up a set of mature experience in dealing with the integration of the two.
According to the announcement, CICC will pay the transaction fee of 654.38+067 billion yuan by issuing domestic shares to Huijin. After the transaction is completed, CIC Securities will become a wholly-owned subsidiary of CIC. At present, CIC and CIC have set up a joint working group to steadily push forward the integration work, graft the superior resources of both sides, release synergy, improve financial returns and effectively enhance shareholder value. In the end, whether the integration of the two companies can help CICC return to the first-line position or even achieve the goal of accelerating the construction of a world-class investment bank as stated in its announcement is a test of the next arrangements of all parties to the transaction. I believe this project is no less than the merger of Shen Wan Hongyuan.