1. Why did you take over the New Age Securities, Guosheng Securities and Guosheng Futures?
Answer: In view of the fact that New Times Securities, Guosheng Securities and Guosheng Futures conceal the actual controller or shareholding ratio, corporate governance is unbalanced, in order to protect the legitimate rights and interests of investors and maintain the order of the securities market, according to the Securities Law The Regulations on the Management of Futures Trading stipulates that the Securities Regulatory Commission shall take over the management of New Times Securities, Guosheng Securities and Guosheng Futures.
The takeover goal is to maintain the business stability of the three companies and standardize the company's equity and governance structure. The period of takeover shall be from July 17, 2020 to July 16, 2021. If the period expires and it is indeed necessary to continue to take over, the extension of the period of takeover may be decided according to law.
2. How will the takeover work be carried out?
Answer: From the date of takeover, the takeover team exercises the management rights of the company being taken over, and the head of the takeover team exercises the functions of the company’s legal representative. The shareholders' meeting or shareholders' meeting of the New Times Securities, Guosheng Securities, Guosheng Futures, the board of directors, the board of supervisors and the management ceased to perform their duties. During the takeover, the takeover team and the trusteeship team will take effective measures to maintain the safety of customer funds, continue to maintain the company's operating stability, and standardize the company's equity and governance structure. New Age Securities, Guosheng Securities Brokerage Business, Asset Management Business, Investment Banking Business, Financing Business, Bond Repurchase, Interbank Business and other businesses, as well as Guosheng Futures Futures Brokerage and other businesses are operating as usual. Clients' securities transactions and futures transactions are not affected, and the transfer of client funds into and out of funds is carried out normally; various business contracts between the company and clients continue to be performed, and the redemption of asset management products is carried out normally.
3. What is the current situation of New Era Securities, Guosheng Securities, and Guosheng Futures?
Answer: At present, in addition to the above corporate governance issues, New Times Securities, Guosheng Securities and Guosheng Futures are generally operating normally, the workforce is stable, and various business risk control indicators meet regulatory requirements.
According to the monthly reports of the three companies in May 2020, as of the end of May 2020, New Times Securities had total assets of 22.1 billion yuan, net assets of 9.5 billion yuan, and net capital of 7.1 billion yuan. The risk coverage rate was 275.50% and the liquidity coverage rate was 1156.08%. , The net stable capital rate is 165.22%.
As of the end of May 2020, Guosheng Securities had total assets of 30.8 billion yuan, net assets of 9.8 billion yuan, net capital of 8.3 billion yuan, a risk coverage rate of 370.25%, a liquidity coverage rate of 366.67%, and a net stable capital rate of 183.53%.
As of the end of May 2020, Guosheng Futures had total assets of 746 million yuan, net assets of 89 million yuan, and net capital of 71 million yuan. The ratio of net capital to total venture capital reserve was 272.30%, and the ratio of current assets to current liabilities was 974%.
4. Are client assets of New Times Securities, Guosheng Securities and Guosheng Futures safe?
Answer: The funds and assets of the brokerage business of New Times Securities, Guosheng Securities and Guosheng Futures are safe and complete. Securities client funds are deposited in a third-party depository bank according to regulations, and are included in the monitoring of the market-wide customer funds monitoring system. Securities assets held by customers are deposited in China Securities Depository and Clearing Co., Ltd., deposits and customer rights and interests of futures customers Incorporate into the monitoring of the whole market futures margin monitoring system as required. The three companies' various asset management products are entrusted in accordance with the law, and the asset safety is fully guaranteed.
5. What is the overall situation of the securities and futures industry? How does the takeover of related securities and futures companies affect the securities market?
Answer: As of the end of May 2020, the total assets of the securities industry were 7.91 trillion yuan, net assets were 2.10 trillion yuan, net capital was 1.68 trillion yuan, risk coverage rate was 270.45%, liquidity coverage rate was 246.50%, and net stable capital rate was 150.06%. . The total assets of the futures industry are 783.2 billion yuan, the net assets are 122.8 billion yuan, the net capital is 67.7 billion yuan, the ratio of net capital to total venture capital reserves is 312%, and the ratio of current assets to current liabilities is 640%. In general, the overall operation of the securities and futures industry is standardized, with sufficient capital and strong resistance to risks.
New Times Securities, Guosheng Securities and Guosheng Futures were taken over as cases of risk disposal due to concealment of actual controllers or shareholding ratios and imbalances in corporate governance. The takeover is to standardize related company equity and governance structure, prevent risk spillovers, and more It is conducive to the healthy and stable development of the securities and futures industry.
The Securities Regulatory Commission and relevant departments have established a long-term liquidity support mechanism based on the Securities Investor Protection Fund. In the next step, the SFC will strengthen market monitoring, actively respond, and steadily advance the takeover work, earnestly maintain the healthy and stable development of the securities market, keep the bottom line of no systemic financial risks, and ensure financial and social stability.