According to Hong Kong Oriental Daily，The number of local Hong Kong securities firms continues to decrease。end of last month，Quam International (00952) announced a consideration of approximately HK$1.096 billion，Sold 51% of the company's entire issued share capital to China Oceanwide Holdings，The price is approximately 16% higher than the closing price on that day.。Huafu International holds multiple licenses，Covers stocks andAsset management business，The change of its controlling stake once again shows that Chinese investment in Hong Kongfull licenseStrong interest from brokers。
Quafu International sold to Oceanwide Holdings
1028th of the month，Quafu International Announces Agreement with Oceanwide Holdings，The latter acquired 51% of its issued share capital for approximately HK$1.096 billion。Oceanwide Holdings' bid represents a premium of approximately 16% to the closing price of Quam International on that day.，Highlights Chinese companies' willingness to pay higher prices to obtain fully licensed local securities firms。Huafu International has complete securities and asset management business qualifications，This is exactlyChinese-funded institutionsKey areas of focus when expanding into the Hong Kong market。
The trend of Hong Kong securities firms being acquired by Chinese investors
in fact，The control of major local securities firms such as Tai Fook Securities and Sun Hung Kai Financial has already changed hands.。In the past two years, at least four Hong Kong-funded securities firms have been acquired by Chinese-funded companies.，Among them, Dunpei Financial has changed its name to Southwest Securities International (00812)。There are countless cases of unlisted local small and medium-sized securities firms being acquired.，Industry consolidation is accelerating。
The views of industry veterans
Dong Wei：Consider selling years of hard work
Dong Wei, chairman of Zhongli Stocks, who has been engaged in the securities industry for many years, revealed，I am considering selling the company。He expressed："I have been thinking about retiring since the beginning of the year! Employees of the company will keep whatever they can.，But since it’s the management right, we’ll have to wait and see if it changes hands.。"He pointed out，The current outlook for Hong Kong stocks is unclear，The price-to-earning ratio of local securities firms is low，The probability of future mergers and acquisitions increases。With the upcoming opening of Shenzhen-Hong Kong Stock Connect，Chinese securities firms actively come to Hong Kong to “plant their flags”，Buy directly from a ready-made Hong Kong securities firm，More convenient in business。
Zhang Tiansheng：Chinese capital is abundant，Don't mind higher cost
Zhang Tiansheng, permanent honorary president of the Hong Kong Securities Association, also pointed out，Chinese securities firms are flush with funds，able to withstand losses，Therefore, we don’t mind acquiring listed companies at a higher cost.，This will allow us to expand our customer base in the China-Hong Kong interconnection business.。Zhang Tiansheng revealed：“Many Chinese companies do not understand the regulatory differences between China and Hong Kong.，Acquire an existing building to maintain its operations，The cost is better than doing it yourself.。"This explains why Chinese capital prefers mergers and acquisitions rather than its ownApply for a license。
Cai Chen Baoxin：Acquisition is more efficient than applying for a license yourself
Cai Chenbaoxin, chairman of Zhongrun Securities, also said，Acquisition companyMore efficient than applying for a license yourself。she pointed out：“You have to wait until you reach adulthood to apply for a license.，Zhong Yao established the company from scratch、Overhauled some systems、Invite some guys，Chinese companies have a lot of money again，It's better to just buy a ready-made one! "She also mentioned，Local brokers already have experience in operating Shanghai-Hong Kong Stock Connect，After the interconnection between Hong Kong and the mainland market is realized,，They are more familiar with operating procedures，This has also become an important consideration for Chinese capital to acquire Hong Kong securities firms.。
Several senior industry insiders believe that，The launch of Shenzhen-Hong Kong Stock Connect will bring certain help to the brokerage business in the short term.。However，Hong Kong-funded securities firms, especially small securities firms，Difficult to match Chinese-funded institutions in terms of network and resources，It may be difficult to escape the fate of being eliminated in the future。Yaocai Securities (01428), which had previously reported selling news, has issued a clarification notice，Said that the company will review strategic opportunities or offers from time to time to enhance shareholder value，But no offer of any kind has been received yet。Industry expectations，After the opening of Shenzhen-Hong Kong Stock Connect，Chinese capital will further enter Hong Kong’s securities industry，Hong Kong securities firms will buy rare shares。
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