1. development overview
In June 2003, Jiangnan Securities Co., Ltd. (hereinafter referred to as Jiangnan Securities), the predecessor of AVIC Securities, obtained the qualification of lead underwriter. In 2004, Jiangnan Securities became the first sponsor, and at the end of that year, Anhui shanying paper Co., Ltd. successfully issued A shares with a total underwriting amount of 424 million yuan. At the same time, it has also achieved good results in M&A and restructuring business, and successively served as the financial consultant for asset injection of major shareholders of Liyuan New Materials, the independent financial consultant for major asset acquisition of Huatian Hotel and the financial consultant for asset injection of major shareholders of Hualian Co., Ltd.
In May, 2008, Jiangnan Securities Investment Banking Department re-applied for restoring the sponsorship qualification, and strategically reconstructed the investment banking departments and personnel, and established a new professional team with a high starting point market operation mode. In 2009, the investment banking team and business were reorganized, and a branch specializing in investment banking was established, namely the underwriting and sponsorship branch of AVIC Securities, which insisted on underwriting business, M&A business and innovative business simultaneously. On the basis of underwriting business, actively implement the development strategy of M&A and innovative business, carry out multi-variety and full-coverage investment banking business including securities underwriting and sponsorship, M&A and restructuring, and financial consultancy, and gradually build the core competitiveness of investment banks.
In June 2009, Renhe Pharmaceutical's refinancing project with Jiangnan Securities as the lead underwriter was approved by China Securities Regulatory Commission and successfully issued, raising 7,654,388+million yuan.
In June 2009, 165438+ 10, the Bird refinancing project with Jiangnan Securities as the lead underwriter was approved by the CSRC and successfully issued, raising 800 million yuan.
20 10 In March, the corporate bonds of Hefei High-tech Development Zone and Honggutan City Investment Company, with Jiangnan Securities as the lead underwriter, were successfully issued, raising/kloc-0.5 billion yuan and 800 million yuan respectively.
20 10 In May, Changfa Refrigeration Co., Ltd., the first IPO project underwritten and sponsored by Jiangnan Securities, was successfully listed on Shenzhen Stock Exchange, raising 666 million yuan.
On June 20 10, Jiangnan securities underwriting sponsor institution was renamed as AVIC securities underwriting sponsor institution.
20 10 in September, the corporate bonds of AVIC international holdings co., ltd were successfully issued, raising funds of/kloc-0.5 billion yuan.
20111/October, the IPO project of Shenzhen Lehman Optoelectronic Technology Co., Ltd. sponsored and underwritten by AVIC Securities was successfully listed on the Growth Enterprise Market, raising 638 million yuan.
2011February, the non-public offering project of Sichuan Chengfa Aviation Technology Co., Ltd., jointly sponsored and underwritten by AVIC Securities, was successfully completed, raising 65,438 billion yuan.
20 1 1 In March, the IPO project of Shenzhen Tieren Ecological Environment Co., Ltd. sponsored and underwritten by AVIC Securities was successfully listed on the Growth Enterprise Market.
The organization chart of AVIC securities underwriting and sponsor institutions is as follows:
2. Transmission mechanism
Relatively independent operation mode of underwriting and sponsoring branches;
People-oriented, innovation-oriented, service-oriented business philosophy;
Make full use of the company's existing resources and adhere to the organizational management principles of combining independence with unity and combining division of labor with cooperation;
Based in Shenzhen, establish business network and set up business institutions in Shanghai, Beijing and Nanchang respectively.
business introduction
I. Overview of investment banking business
(A) commercial advantages
Gather elites in the industry and have a multi-functional, diligent and innovative professional team;
Committed to enterprise growth and value promotion, team spirit of sincere cooperation;
Efficient and efficient marketing network all over the country;
Strong R&D strength with industry characteristics;
With the advantage of overseas financing, international strategic alliances has realized the listing of China enterprises in the United States, Singapore, Hongkong and South Korea.
(2) Business scope of investment banking
1, enterprise restructuring and listing counseling
(1) recombination
Assist enterprises in planning reorganization plans; Assist enterprises to draft and prepare application materials and related documents; Coordinate the opinions of various intermediaries in enterprise restructuring, and organize enterprises and intermediaries to work together; Assist enterprises to apply for restructuring and set up joint-stock companies.
(2) Consultation
Training enterprise directors, supervisors and other senior managers; Assist and urge enterprises to initially establish a corporate governance foundation that meets the requirements of modern enterprise system in accordance with relevant regulations; Assist and urge enterprises to realize independent operation; Assist enterprises to find and solve problems that are not conducive to issuance and listing; Assist enterprises to complete counseling and acceptance.
2. Financing
(1)IPO and refinancing
Assist enterprises to determine financing plans, and formulate plans and timetables for issuance and listing; Assist enterprises to analyze the feasibility of investment projects and determine the investment direction of raised funds; Coordinate the issuer and relevant intermediaries to complete the production and revision of the full set of issuance application materials and complete the application work; Complete valuation, inquiry and roadshow promotion; Finish the post-release work.
(2) Issuance of bonds
According to the enterprise strategy, determine the scale of corporate bond issuance; According to the characteristics of enterprise cash flow and financing cost, formulate a reasonable bond issuance plan; Provide consulting, information disclosure and other services; Recommend accounting firms, law firms, credit evaluation companies and other intermediaries; Responsible for coordinating with the competent authorities to obtain the approval for issuing bonds as soon as possible; Formulate bond issuance plans and promotion plans; Responsible for the specific organization and coordination of bond issuance, bond distribution and agency, and bond payment.
(3) Private placement financing
Assist the company to find potential target investors (strategic investors); Assist enterprises to draft and approve private placement documents; Communicate and negotiate on behalf of customers on capital investment matters.
3. Mergers and acquisitions
(1) Enterprise assets reorganization
Information consultation and due diligence on capital operation; Overall scheme design and supporting services for enterprise asset restructuring and debt restructuring; Overall planning and consultation of enterprise restructuring and refinancing plan; Consultation on capital operation policies and regulations.
(2) M&A
& lt 1 & gt； Services provided to the acquirer
Plan the business strategy and development plan of the acquirer, help the acquirer to clarify the acquisition purpose and formulate the acquisition standard; Assist the acquirer to find the target and conduct due diligence; Design M&A mode and transaction structure; Communicate with the transferor and assist in the negotiation; Assist in the implementation of merger and acquisition plan and control the target company; Assist in M&A financing; Assist in the integration after the merger.
Services provided by<2> to acquirers
Make the recommendation report of the target company; Find and select the transferee; Design the trading scheme; Communicate with the transferee and assist in the negotiation; Assist in the implementation of the trading scheme and assist the transferor to obtain the transfer benefits.
3. Personnel introduction
I. Branch management team
Shi: Master of Management Science and Engineering, School of Management, Harbin Institute of Technology; He is currently the deputy general manager of AVIC Securities Co., Ltd., in charge of securities underwriting and sponsorship business; 20 10 member of China excellent investment bank selection Committee.
Chen Qiang: EMBA Shanghai University of Finance and Economics; He is currently the assistant to the general manager of AVIC Securities Co., Ltd. and the general manager of AVIC Securities Underwriting and Sponsoring Branch; The first sponsor representatives in China and the first expert service group members in Shenzhen SME Listing Office.
Li Xiumin: Bachelor of Audit from Shanxi University of Finance and Economics; He is currently the assistant to the general manager of AVIC Securities Co., Ltd. and the head of the underwriting and sponsorship department of AVIC Securities; Sponsor representatives and certified public accountants; He used to work in the securities regulatory agency and the stock exchange, auditing and supervising the issuance of securities.
Second, the business team
AVIC Securities Underwriting and Sponsoring Branch has a professional investment banking team with reasonable knowledge structure, excellent professional quality and rich experience in research and analysis, market planning, financing, finance and law. The total number of the team is about 140, including more than 30 sponsor representatives and quasi-sponsor representatives, and several business backbones with more than 10 years of investment banking experience. AVIC Securities Fixed Income Department is a specialized department engaged in fixed income securities business. We have a professional team with reasonable knowledge structure, excellent professional quality and rich experience in bond trading, underwriting and investment research, which has achieved good results and enjoyed a high reputation in the industry.
Bond trading investment business
Mainly engaged in cash and repurchase transactions of fixed-income products such as government bonds, central bank bills, short-term financing bills, medium-term bills, corporate bonds and financial bonds.
In 2007, the company ranked 39th in the comprehensive ranking of bond trading volume of brokers in the inter-bank market, with a cumulative trading volume of 2.83 billion. In the first quarter of 2008, the cumulative transaction volume was 2163.5 million yuan, ranking 19 in the comprehensive ranking of bond transactions in June-April 2008.
Bond underwriting business
Mainly engaged in underwriting fixed-income products such as corporate bonds and short-term financing bills.
It has undertaken the issuance and underwriting of a number of central and local corporate bonds such as State Grid, Ministry of Railways, China Tietong, China COSCO, China National Nuclear Corporation and Xinglu Investment. Financial Innovation Department is a business department that aims at effective market demand, relies on financial product innovation and takes continuous marketing as a means. Based on the actual situation of China's financial market, the Financial Innovation Department constructs trading and risk management strategies through quantitative research, supplemented by a completely self-developed programmed trading system, and advocates a brand-new investment concept and profit model of asset management and brokerage business with financial structured products and financial derivatives as the core. The financial innovation department consists of technical department, research department and marketing department, with many financial engineering analysts, IT engineers and experienced traders.