Movement Alert|CICC Rises 3.31% in Regular Trading, Three-in-One Merger Under Regulatory Review as UBS Names It Top Pick

Market Focus
Jun 25

On June 25, CICC rose 3.31% in regular trading, trading at HK$21.18/share, with turnover of HK$189 million.

On the news front, CICC's application to absorb Dongxing Securities and Cinda Securities through a share-swap merger was formally accepted by the Shanghai Stock Exchange on June 12 and is currently under regulatory review. Upon completion, the combined entity's total assets will exceed RMB 1 trillion, with revenue increasing from RMB 28.5 billion to RMB 37.2 billion, elevating CICC's industry ranking to third place.

Additionally, UBS recently published a research report expressing optimism on the brokerage sector's Q2 earnings outlook, listing CICC as a top pick. UBS noted that listed brokerages recorded 39% year-over-year growth in recurring net profit in Q1, with even stronger momentum expected in Q2. The firm maintained a Buy rating on CICC.

Within the Investment Banking and Brokerage sector, CITIC Securities rose 1.97%, CSC gained 3.91%, CGS advanced 1.47%, while GF Securities slipped 0.12%, reflecting broad sector recovery driving CICC's technical rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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