Pacific Securities
{{Short description|Chinese investment bank and brokerage firm}}
{{distinguish|China Pacific Insurance Company}}
{{Infobox company
| name = Pacific Securities
| logo =
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| type = Public
| traded_as = {{ubl|{{SSE|601099}}|
|SSE MidCap Component}}
| industry = Financial services
| predecessor = Yunnan Securities
| founded = 2004
| founder =
| hq_location =
| hq_location_country = China
| area_served = {{ubl|Mainland China|North America{{citation needed|date=December 2017}}|Southeast Asia}}
| num_locations =
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| key_people = Zheng Yanan (Chairman)
| brands =
| services = {{ubl|Asset management|Investment banking|Brokerage|Direct investment}}
| revenue = {{increase}} {{CNY|link=yes|2.743 billion}}
| revenue_year = 2015
| operating_income = {{increase}} {{CNY|1.442 billion}}
| income_year = 2015
| net_income = {{increase}} {{CNY|1.133 billion}}
| net_income_year = 2015
| assets = {{nowrap|{{increase}} {{CNY|34.092 billion}}}}
| assets_year = 2015
| equity = {{increase}} {{CNY|7.402 billion}}
| equity_year = 2015
| subsid =
| rating =
| website = [http://www.tpyzq.com tpyzq.com]
| footnotes = in a consolidated basis, excluding minority interest
}}
{{Chinese|title=The Pacific Securities Co., Ltd.|s=太平洋证券股份有限公司|t=太平洋證券股份有限公司|p=Tàipíngyáng zhèngquàn gǔfèn yǒuxiàn gōngsī|order=st|altname=Pacific Securities|s2=太平洋证券|t2=太平洋證券|p2=Tàipíngyáng zhèngquàn|s3=太平洋|t3=太平洋|p3=Tàipíngyáng|l3=Pacific|s4=太证|t4=太證|p4=Tàizhèng}}
The Pacific Securities Co., Ltd. is a Chinese investment bank and brokerage firm. The company is listed on the Shanghai Stock Exchange.
As on 28 November 2016, The Pacific Securities is a constituent of CSI 300 Index (and mid-cap sub-index CSI 200 Index) and SSE 180 Index.
The company controls a SPAC listed on NASDAQ.{{citation needed|date=December 2017}} The company also owns 39% stake in Lao-China Securities, a company based in Vientiane, capital and largest city of Laos.
History
The Pacific Securities was founded in 2004 and received the clients of bankrupted Yunnan Securities. In April 2007 it was converted to company limited by shares,{{cite web|url=http://www.csrc.gov.cn/pub/zjhpublic/G00306205/200807/t20080702_30127.htm?keywords=|script-title=zh:关于太平洋证券有限责任公司变更为股份有限公司及增资扩股的批复 |date=6 April 2007|access-date=10 February 2017|publisher=China Securities Regulatory Commission|language=zh}} with a nominal value of {{CNY|1}} each.
It was reported that Xiao Jianhua was behind the operation on listing the company to Shanghai Stock Exchange in 2007.{{cite news|last1=Barboza|first1=David|last2=Forsythe|first2=Michael|title=With Choice at Tiananmen, Student Took Road to Riches|url=https://www.nytimes.com/2014/06/04/world/asia/tiananmen-era-students-different-path-to-power-in-china.html|access-date=February 1, 2017|work=The New York Times|date=June 3, 2014}} Irregularity was founded after, by-then vice-governor of China Development Bank, Wang Yi ({{zh|s=王益}}) was arrested.{{cite web|url=http://www.shanghaidaily.com/nation/Death-penalty-for-corrupt-banker/shdaily.shtml|title=Death penalty for corrupt banker|date=16 April 2010|access-date=9 February 2017|work=The Shanghai Daily}} Wang was the vice-chairman of China Securities Regulatory Commission (CSRC) until 1999.{{cite web|url=http://news.sohu.com/20100331/n271219577.shtml|script-title=zh:国开行原副行长王益承认受贿 牵出两女明星|date=31 March 2010|access-date=10 February 2017|work=The Peninsula Morning Post|publisher=Re-published by SOHU|language=zh}}
In December 2007, the largest shareholder of the Pacific Securities was the consortium of Beijing Ximeng Real Estate (13.34%), Beijing Huaxin Liuhe Investment (13.20%), China Foreign Economy and Trade Trust (FOTIC, 10.00%), UOB Mainland Investment (6.67%),{{#tag:ref|{{zh|s=大华大陆投资}}, A company 40.1% owned by {{ill|Chinascholars Group|zh|神州学人集团}} ({{SZSE|000547}}, now known as Addsino) and 19.9% by UOB Venture Management (Shanghai) ({{zh|s=优欧弼投资管理(上海)}}), a wholly owned subsidiary of United Overseas Bank;{{cite web|url=http://www.uobgroup.com/assets/pdfs/investor/annual/UOB_Annual_Report_2007.pdf|title=2007 Annual Report|date=7 April 2008|access-date=10 February 2017|publisher=United Overseas Bank}} the rest (40%) was owned by a private company ({{zh|s=北京新荣拓展投资管理}}).|group=nb}} Yunnan State-Owned Assets Management (3.33%) and CMST Development ({{SSE|600787}}, 3.33%).{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2007-12-27/601099_20071227_1.pdf|title=A 股股票上市公告书|date=27 December 2007|access-date=9 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} The Pacific Securities also exchanged its shares with the shares of Unida (former code {{SSE|600181}}), a company delisted in 2007. Other major shareholders were Puhua Investment (10.00%),No official English name was known, English translation was for indication only. Taishan Xiangsheng (10.00%), "China Energy Development Electricity (Group)"{{#tag:ref|the Chinese name was changed from {{zh|s=中能发展电力(集团)}} to {{zh|s=中能发展实业}} in 2011;{{cite web|url=http://www.saic.gov.cn/zwgk/gggs/qymchzgg/qyj/201104/t20110425_105671.html|script-title=zh:企业名称核准公告|date=25 April 2011|access-date=9 February 2017|publisher=State Administration For Industry & Commerce|language=zh}} according to the National Enterprise Credit Information Publicity System, it was 40% owned by a wholly owned subsidiary ({{zh|s=中节能科技投资}}) of state-owned China Energy Conservation and Environmental Protection Group until mid-2014.|group=nb}} (6.67%) and "Heilongjiang Century Huarong Investment Management" (5.77%) Those shareholders owned 82.31% shares, with 36 months restriction to sell.
5 out of 6 companies renewed the shareholders' agreement in March 2010 (FOTIC withdrew), as well as "Yunnan State-Owned Assets Management" transferred part of its stake to another Yunnan Government-owned company: Yunnan Industrial Investment Group ({{zh|s=云南省工业投资控股集团}}).{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2011-04-22/601099_2010_n.pdf|title=2010 Annual Report|date=22 April 2011|access-date=9 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} The consortium owned 39.88% shares of the company as the largest shareholder, as well as the chairman of the Pacific Securities, Zheng Yanan ({{zh|s=郑亚南}}), was also the chairman of UOB Mainland Investment. However, the consortium sold most of their shares since 2011 (decreased to 32.68% in December 2011, 25.38% in December 2012)
The shareholders' agreement was expired again in March 2013, which only Huaxin Liuhe increased its shares (from 10.83% to 10.89%), as well as Yunnan Industrial Investment Group retained its 3.19% shares; Beijing Ximeng Real Estate, UOB Mainland Investment and CMST Development sold their 7.62%, 2.31% and 1.42% shares to 3.79%, 0.31%{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2014-03-07/600787_2013_n.pdf|title=2013 Annual Report|date=7 March 2014|access-date=10 February 2017|work=CMST Development|publisher=Shanghai Stock Exchange|language=zh}} and unknown level respectively. It was reported that Pacific Securities was ranked the least among the listed "securities firms" of China, in term of revenue of the first half of 2013.{{cite web|url=http://finance.sina.com.cn/stock/quanshang/qsyj/20130903/032016642706.shtml|script-title=zh:上市券商上半年业绩两极分化 净利占全行业半壁江山|date=3 September 2013|access-date=10 February 2017|work=China Securities Journal|publisher=Re-published by Sina|language=zh}}
In 2012 the Pacific Securities founded a joint venture in Laos.{{cite web|url=http://www.csrc.gov.cn/pub/zjhpublic/G00306205/201301/t20130129_220950.htm|script-title=zh:关于核准太平洋证券股份有限公司在老挝人民民主共和国设立合资证券公司的批复|date=22 November 2012|access-date=10 February 2017|publisher=CSRC|language=zh}}
In April 2014 the company recapitalized for {{CNY|3.759 billion}} ({{CNY|5.37}} each) by a non-public offering.{{cite web|url=http://www.csrc.gov.cn/pub/zjhpublic/G00306202/201401/t20140116_242609.htm|script-title=zh:关于核准太平洋证券股份有限公司非公开发行股票的批复 |date=3 January 2014|access-date=10 February 2017|publisher=CSRC|language=zh}} Each old share also received 0.5 new share in December that year (by converting the share premium into share capital), making the share capital had increase from 1,653,644,684 to 3,530,467,026.
Shareholders
As at 31 December 2015, the only shareholder with more than 5% shares was Beijing Huaxin Liuhe Investment for 12.75% (450,248,500). Despite 225 million of them were restricted to sell (until 21 April 2019), more than half of its shares (251,020,000) were pledged ({{zh|s=质押}}),{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2016-03-05/601099_2015_n.pdf|title=2015 Annual Report|date=5 March 2016|access-date=9 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} to China Fortune International Trust (160 million restricted shares) since December 2015,{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-12-03/601099_20151203_1.pdf|script-title=zh:股份质押解除及股份质押公告|date=3 December 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}}{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-12-10/601099_20151210_1.pdf|script-title=zh:股份质押公告|date=10 December 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} to China Merchants Securities (51.98 million free-floating shares){{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-03-31/601099_20150401_1.pdf|script-title=zh:关于股东进行股票质押式回购交易的公告|date=31 March 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}}{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-04-07/601099_20150408_1.pdf|script-title=zh:关于股东进行股票质押式回购交易的公告|date=7 April 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} since March–April 2015, as well as pledged to other companies. The shares pledged to China Merchants Securities, all of them were also pledged to the same investment bank from March 2014 to February 2015 (108 million shares free-floating shares);{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-02-27/601099_20150228_1.pdf|script-title=zh:关于股东股票质押式回购交易提前购回的公告|date=27 February 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} the shares pledged to China Fortune International Trust, were also pledged to New China Fushi from April 2014 to November–December 2015 (225 million restricted shares).{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-12-15/601099_20151215_1.pdf|script-title=zh:股份质押解除公告|date=15 December 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}}
The second largest shareholder ({{zh|s=大连天盛硕博科技}}), which owned 4.25% shares (150 million), is a private company based in Dalian. The company bought 100 million number of shares from non-public offering for {{CNY|5.37}} each{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2014-04-22/601099_20140423_5.pdf|script-title=zh:非公开发行股票发行结果暨股本变动公告|date=22 April 2014|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} (before 0.5 additional new shares to each 1 old share). However, the company also pledged 140 million shares as at 31 December 2015.
Financial data
| class="wikitable" border="1"
|+ in a consolidated basis (in {{CNY}}) | ||||||
| Year
! Revenue ! Profit ! Earning per share ! Total assets ! Net assets ! NAV per share | ||||||
|---|---|---|---|---|---|---|
| 2004 | {{0|0000}}15 million | {{fontcolor|red|(16 million)}} | {{fontcolor|red|(0.0244)}} | {{0|000}}1.010 billion | {{decrease}} {{0}}649 million | {{decrease}} 0.98 |
| 2005 (restated) | {{increase}} {{0|00}}23 million | {{decrease}} {{fontcolor|red|(201 million)}} | {{decrease}} {{fontcolor|red|(0.302)}} | {{decrease}} {{0|00}}790 million | {{decrease}} {{0}}448 million | {{decrease}} 0.67 |
| 2006 (restated) | {{increase}} {{0}}231 million | {{increase}} 132 million | {{increase}} 0.198 | {{increase}} {{0}}1.461 billion | {{increase}} {{0}}580 million | {{increase}} 0.87 |
| 2007{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2008-04-25/601099_2007_n.pdf|title=2007 Annual Report|date=25 April 2008|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{increase}} 1.052 billion | {{increase}} 609 million | {{increase}} 0.452 | {{increase}} {{0}}4.933 billion | {{increase}} 2.025 billion | {{increase}} 1.35 |
| 2008{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2009-04-11/601099_2008_n.pdf|title=2008 Annual Report|date=11 April 2009|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{decrease}} {{fontcolor|red|(387 million)}} | {{decrease}} {{fontcolor|red|(645 million)}} | {{decrease}} {{fontcolor|red|(0.429)}} | {{decrease}} {{0}}3.493 billion | {{decrease}} 1.380 billion | {{decrease}} 0.92 |
| 2009{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2010-04-24/601099_2009_n.pdf|title=2009 Annual Report|date=24 April 2010|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{increase}} {{0}}835 million | {{increase}} 405 million | {{increase}} 0.270 | {{increase}} {{0}}5.959 billion | {{increase}} 1.785 billion | {{increase}} 1.19 |
| 2010 | {{decrease}} {{0}}675 million | {{decrease}} 204 million | {{decrease}} 0.136 | {{decrease}} {{0}}5.856 billion | {{increase}} 1.959 billion | {{increase}} 1.30 |
| 2011{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2012-04-27/601099_2011_n.pdf|title=2011 Annual Report|date=27 April 2012|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{decrease}} {{0}}666 million | {{decrease}} 157 million | {{decrease}} 0.104 | {{decrease}} {{0}}4.940 billion | {{increase}} 2.116 billion | {{increase}} 1.41 |
| 2012{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2013-04-25/601099_2012_n.pdf|title=2012 Annual Report|date=25 April 2013|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{decrease}} {{0}}526 million | {{decrease}} 70 million | {{decrease}} 0.043 | {{decrease}} {{0}}4.480 billion | {{increase}} 2.135 billion | {{decrease}} 1.29 |
| 2013{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2014-04-29/601099_2013_n.pdf|title=2013 Annual Report|date=29 April 2014|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{decrease}} {{0}}486 million | {{increase}} 75 million | {{increase}} 0.045 | {{increase}} {{0}}4.630 billion | {{increase}} 2.183 billion | {{increase}} 1.32 |
| 2014{{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2015-03-05/601099_2014_n.pdf|title=2014 Annual Report|date=5 March 2015|access-date=10 February 2017|work=The Pacific Securities|publisher=Shanghai Stock Exchange|language=zh}} | {{increase}} 1.359 billion | {{increase}} 543 million | {{increase}} 0.171 | {{increase}} 14.190 billion | {{increase}} 6.402 billion | {{increase}} 1.81 |
| 2015 | {{increase}} 2.743 billion | {{increase}} 1.133 billion | {{increase}} 0.321 | {{increase}} 34.092 billion | {{increase}} 7.402 billion | {{increase}} 2.10 |
| 2016 |
- Note, share capital and number of shares had changed in 2007, 2012 and 2014
Footnotes
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References
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External links
- {{official website|http://www.tpyzq.com}} {{in lang|zh}}
{{Investment banks}}
Category:Companies based in Kunming
Category:Companies listed on the Shanghai Stock Exchange
Category:Investment banks in China
Category:Financial services companies of China