CITIC Securities reduces types of businesses? Informed sources respond.

Recently, the reduction of business categories by CITIC Securities has attracted much attention. CITIC Securities has submitted two applications to the China Securities Regulatory Commission to reduce business categories, and the CSRC has received the relevant materials. This matter has sparked various interpretations in the market. According to sources, this is a follow-up matter to the acquisition of Guangzhou Securities. According to the acquisition plan at that time, CITIC Securities adjusted the business positioning and scope of CITIC Securities South within the transitional period allowed by the CSRC to resolve potential conflicts of interest or competition situations. The specific arrangements for changing the business scope are subject to the approval of the CSRC. Last year, CITIC Securities had also applied to reduce business categories. On June 20th of this year, the CSRC approved the reduction of securities underwriting business by CITIC Securities South.