The story
[old] China Securities Co., Ltd. (1992–2005)
The predecessor of CSC Financial Co., Ltd. was incorporated in 1992 as China Securities Co., Ltd. (CSC) (Chinese: 华夏证券; pinyin: Huáxià zhèngquàn; lit. 'Huaxia Securities'). Huaxia Securities established a subsidiary in Hong Kong as China Securities (International) Limited in 1994 (the stake was at first held by Huaxia Securities' chairman Shao Chun (Chinese: 邵淳) and CEO Deng Xi (Chinese: 邓其) as proxies; China Securities (International) became dormant since 2010).
As of 31 December 2004, state-owned enterprise Beijing State-owned Assets Management Co., Ltd. owned 29.82% stake of Huaxia Securities. The enterprise, which was a subsidiary of Beijing Municipal People's Government, also owned 33.87% stake of Beijing Securities, 20.07% stake of the Bank of Beijing, 46.67% stake of Beijing International Trust, 40.725% stake of China Asset Management (Chinese: 华夏基金管理; lit. 'Huaxia Fund Management') and the predecessor of insurance company Old Mutual – Guodian for 50.00% stake, making the enterprise owned several financial and non-financial associate companies as a mega conglomerate. However, Hua Xia Bank, was partially owned by Shougang Corporation (a direct subsidiary of State-owned Assets Supervision and Administration Commission (SASAC) of Beijing Municipal Government at that time) for 14.29% and other companies instead.
However, after several scandal which the staff illegally made investment without the consent of their client, Huaxia Securities went bankrupted (as in 2016 the firm was still being liquidated).
[new] China Securities Co., Ltd. (2005–)
A new firm with the same English trading name China Securities but different Chinese name (Chinese: 中信建投证券; lit. 'CITIC Jianyin Securities') was established by CITIC Securities and China Jianyin Investment in 2005 and receiving the client from the old firm, but did not bear any legal responsibility of the old firm.
In 2010, as CITIC Securities also had their own license, CITIC Securities was requested by China Securities Regulatory Commission to sell all but one subsidiary, including China Securities Co., Ltd. (CITIC Securities was allowed to keep at most kept 7% stake of CSC; CITIC Securities (Shandong) was kept as subsidiary, Kington Securities was put on the market), which 45% stake was acquired by Beijing State-owned Capital Operation and Management (BSCOMC, Chinese: 北京国有资本经营管理中心) for CN¥7.290 billion and 8% stake by Century Golden Resources Group for CN¥1.296 billion through public offering on Beijing Financial Assets Exchange, making SASAC of Beijing Municipal Government returned as the largest shareholder. In the same year China Jianyin Investment transferred the stake its held to Jianyin Investment's parent company Central Huijin Investment, a subsidiary of the State Council of the People's Republic of China. In 2011 China Securities was reincorporated as a "company limited by shares". (Chinese: 股份有限公司) In 2016 Century Golden Resources Group sold most of its stake to Shannan Jinyuan (4.92%) and Shanghai Shangyan (2.47%).
In 2007 China Securities acquired the remaining stake of China Futures Co., Ltd. from other shareholders.
On 12 July 2012 China Securities re-established its Hong Kong subsidiary as China Securities (International) Finance Holding. The Hong Kong-based holding company itself also forming several subsidiaries.
According to the company, China Securities was ranked 4th by underwriting 135 companies in National Equities Exchange and Quotations.
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In November 2016, China Securities started the global offering for its new H shares that would be floated on the Stock Exchange of Hong Kong. The Price was set at HK$ 6.81. Cornerstone investors subscribed 57.38% of the H shares, which equal to 9.47% total share capital of CSC. The largest H share shareholder was Glasslake Holdings, an indirect wholly owned subsidiary of CITIC Limited, which was the largest shareholder of CITIC Securities.
In 2018, its A shares started to trade in the Shanghai Stock Exchange. The company became a constituent of SSE 50, the blue chip index of that exchange in 2019.
From Wikipedia’s article on CSC Financial, shared under CC BY-SA 4.0.4