BEIJING, April 25, 2016 /PRNewswire/ -- China Renaissance group, a leading independent financial institution group, today announced that the China Securities Regulatory Commission (CSRC) has approved a license for Huajing Securities, partly owned by a member of China Renaissance group, Maxson Securities Limited as the Hong Kong shareholder. Registered in Shanghai, Huajing Securities has registered capital of RMB1 billion ($154 million). Under the full service license, Huajing Securities will be permitted to practise four main businesses: underwriting, investment consulting, brokerage, and asset management.
As a result of supportive national policy and recognition from government agencies, Huajing Securities was able to complete the approval process within a short period of time. In the coming six months, Huajing Securities will focus on implementing all aspects of operations in compliance with CSRC regulations, with the aim of providing a full range of financial advisory services as soon as possible for "new economy" companies returning to China's domestic securities market following an exit from another international capital market.
Fan Bao, Founder and CEO of China Renaissance, said, "This is a significant development for our business and we are well placed to advise companies that are exploring opportunities in China's domestic capital markets. We are grateful for the trust and support from the regulators in approving this license for Huajing Securities. We now have the capability to provide companies with one-stop financial services solutions focused on the A-Shares market. We believe that with China Renaissance's decades-long experience and expertise in the capital markets, Huajing Securities will be ideally placed to advise new economy companies capturing opportunities in the A-shares market. As a long-term trusted advisor for many of China's high-growth companies, China Renaissance will continue to keep our clients' interests at our core and help companies on their journey back to the domestic capital market."
In addition to Maxson Securities, Huajing Securities' mainland shareholders, Shanghai Enlight Investment Holdings Co. Ltd (Shanghai Enlight) and Wuxi Qunxing Equity Investment Management Co. Ltd (Wuxi Qunxing), have also played significant roles in the application process. Since its establishment in 1998, Beijing Enlight Media Co Ltd., a subsidiary of Shanghai Enlight, has become China's largest private media and entertainment group and is now listed on the Shenzhen Stock Exchange (300251.SZ). Wuxi Qunxing's main lines of business include equity investment, investment consulting, business intelligence, and management consulting. Capitalizing on China Renaissance's and other shareholders' market positions and breadth of capabilities, Huajing Securities will be uniquely positioned to provide a range of "closed-loop" financing solutions to China's "new economy" enterprises, including equity financing, IPO, refinancing, M&A, and debt financing.
As a newcomer in the mainland securities market, Huajing Securities will leverage China Renaissance's extensive network and expertise in China's new economy, cooperate with current players, and bring new insights that will foster development and prosperity in the securities market.
About China Renaissance
China Renaissance is a leading financial institution group serving the financing needs of China's "new economy" entrepreneurs, those creating business models powered by the Internet and information technology. The firm's services include private fund-raisings, public offerings, mergers and acquisitions, sales and trading execution and equity research across a broad range of sectors, with a particular specialization in TMT, education, healthcare and consumer products.
Since its inception in 2004, China Renaissance has become the number one private placement and mergers & acquisitions advisor to China's entrepreneurs. It is consistently recognized for its innovative capabilities and success in providing tailored financial solutions for clients. ChinaVenture named China Renaissance "The Best Boutique Investment Bank" in ten consecutive years from 2006-2015. The firm received The Asset's Best Equity / Best Private Placement Award for Didi's USD 3 billion private placement and FinanceAsia Achievement Awards "Best China Deal" for its role as the financial advisor for Meituan and Dianping's strategic cooperation in 2015. China Renaissance is headquartered in Beijing and has offices in Shanghai, Hong Kong and New York. For more information, please visit http://www.huaxing.com
SOURCE China Renaissance