On September 7, a trio of announcements from CICC, Xinda Securities, and Dongxing Securities confirmed that the China Securities Regulatory Commission (CSRC) had officially approved CICC's share swap plan to absorb and merge both Dongxing Securities and Xinda Securities.

The core terms of the approval reveal that CICC will issue approximately 3.104 billion new shares to facilitate the merger. Following the transaction, Dongxing Securities and Xinda Securities will be dissolved, with all their branch operations converted into CICC branches.

As part of the restructuring, CICC will welcome new major shareholders. Orient Asset Management is set to hold an 8.03% stake in CICC, amounting to roughly 637 million shares. In parallel, Xinda Asset Management will acquire a 16.76% interest, translating to approximately 1.329 billion shares.

Beyond the core brokerage business, the merger extends to asset management and futures subsidiaries. CICC will become the sole shareholder of Dongxing Fund with a 100% stake, while also securing a 54% controlling interest in Xinda澳亚 Fund. Additionally, the controlling stakes of Dongxing Futures and Xinda Futures will transfer to CICC.

The regulatory filing also sets specific timelines for post-merger integration. The announcement mandates that Dongxing Securities and Xinda Securities must complete their industrial and commercial deregistration within three years from the issuance date of the approval. Simultaneously, CICC, along with the former branches of the two acquired firms, is required to finish all relevant business registration changes within one year. The three brokerages must also adhere to local laws in overseas jurisdictions to handle shareholder transitions and business integration or divestment for their foreign subsidiaries.

This landmark process began in November 2025 when CICC, Dongxing Securities, and Xinda Securities simultaneously suspended trading and unveiled their restructuring plans. By December, the three parties had published the transaction proposal. The draft merger report emerged in May 2026, followed by a successful review by the Shanghai Stock Exchange's M&A Committee on August 27. The final regulatory approval from the CSRC arrived on September 7.

Financial data for the first half of 2026 underscores the strength of the merging entities. Dongxing Securities reported operating revenue of 2.506 billion yuan, a year-on-year increase of 11.4%, with net profit attributable to shareholders reaching 1.025 billion yuan, up 25.13%. In the same period, Xinda Securities generated 2.435 billion yuan in revenue, a 19.53% surge, while its net profit rose 7.15% to 1.097 billion yuan.

Based on 2025 fiscal year figures, the combined CICC is projected to see its net capital jump from 48.1 billion yuan to 103.3 billion yuan—a more than doubling of this key metric. This enhancement is expected to elevate the firm's industry ranking from twelfth to fourth, significantly bolstering its capital strength and risk resilience capabilities.