HK Stock Market Move | CICC (03908) Surges Over 9% in Afternoon Session; "Three-in-One" Restructuring Completes Settlement, Investment Banking Entity Change Takes Effect

CICC (03908) rose over 9% in the afternoon session. As of press time, it was up 8.66% at HK$18.44, with a turnover of HK$278 million. On the news front, on the evening of October 26, CICC announced that the share-swap absorption merger of Dongxing and Cinda had completed settlement. Recently, CICC issued an announcement on the change of its investment banking entity, as the share-swap absorption merger of Dongxing and Cinda entered the substantive business handover stage, with 81 existing investment banking projects from Dongxing and 12 from Cinda formally changing entity, to be taken over by CICC. East Money Information Securities noted that CICC's "three-in-one" restructuring has completed settlement, Orient's acquisition of Shanghai Securities passed the listing review, and Soochow's acquisition of Donghai Securities resumed review, as industry resources are accelerating toward leading institutions. Top-tier brokerages are further consolidating their comprehensive strength through strong-strong alliances, which helps enhance the overall competitiveness of the industry and optimize resource allocation.