Pacific Securities
Pacific Securities is a Chinese investment bank and securities brokerage with domestic capital-markets operations and an international presence through its Laos joint venture.
Last updated October 14, 2026
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Overview
Pacific Securities Co., Ltd. is a Chinese investment bank and securities brokerage established in 2004. The firm was created in the aftermath of the bankruptcy of Yunnan Securities and took over that institution's clients, giving it an immediate customer base in Yunnan and a foundation in the Chinese securities industry. In April 2007, it was reorganized as a company limited by shares, with shares having a nominal value of CN¥1 each, and later became listed on the Shanghai Stock Exchange through a transaction involving the exchange of shares with Unida, a company that was subsequently delisted. The company operates in the principal areas associated with a Chinese securities firm, including investment banking, brokerage and securities-related financial services. Its Shanghai listing made Pacific Securities part of China's publicly traded financial sector. At various points it was included in major market benchmarks, including the CSI 300, CSI 200 and SSE 180 indexes. These index memberships reflected the company's status as a listed securities firm and the market capitalization and liquidity of its shares at the relevant times, rather than a separate consumer-facing product brand. Pacific Securities' ownership structure has changed substantially since its listing. In the years following the 2007 listing, a consortium of investment, trust, real-estate and state-linked entities held a large combined shareholding. The group included Beijing Ximeng Real Estate, Beijing Huaxin Liuhe Investment, China Foreign Economy and Trade Trust, UOB Mainland Investment, Yunnan State-Owned Assets Management and other investors. Several shareholders entered into coordinated arrangements, but the consortium's collective stake declined over time as members sold shares or changed their positions. By the end of 2015, Beijing Huaxin Liuhe Investment was the only shareholder reported to hold more than 5 percent, with a 12.75 percent stake. The company expanded beyond mainland China in 2012 by establishing a joint venture in Laos. Pacific Securities was reported to hold a 39 percent interest in Lao-China Securities, based in Vientiane. It also controlled a special purpose acquisition company listed on Nasdaq, giving it exposure to an international listing structure in addition to its Shanghai-listed parent. The Laos venture and SPAC-related activity indicate an effort to extend the firm's institutional and cross-border capabilities, although the available reference material does not provide enough information to describe the full scale or current condition of either operation. Pacific Securities undertook a major recapitalization in 2014. In April of that year, it raised CN¥3.759 billion through a non-public offering priced at CN¥5.37 per share. In December 2014, each existing share received 0.5 additional share through the conversion of share premium into share capital. As a result, registered share capital increased from 1,653,644,684 shares to 3,530,467,026 shares. These transactions materially changed the company's capital structure and expanded its equity base. The firm's history has also attracted scrutiny because of reports concerning the circumstances of its 2007 Shanghai listing and alleged involvement by politically connected individuals. Reporting linked Xiao Jianhua to the operation and discussed irregularities after the arrest of Wang Yi, a former vice-chairman of the China Securities Regulatory Commission and later vice-governor of the China Development Bank. The available material describes these matters as reported irregularities and does not establish a final legal finding against Pacific Securities itself. They remain part of the company's public historical record and should be distinguished from confirmed corporate sanctions. Pacific Securities is therefore best understood as a listed Chinese financial-services company rather than a globally marketed retail brand. Its identity has been shaped by the absorption of Yunnan Securities' client base, its 2007 listing, evolving shareholder alliances, recapitalization, benchmark inclusion and selective overseas expansion. The supplied reference material does not establish current management, current ownership beyond the historical disclosures cited, current financial performance or a verified current corporate website.
History
Pacific Securities was founded in 2004 in China and developed from the transfer of clients formerly served by bankrupt Yunnan Securities. This origin gave the new firm a regional base in Yunnan and placed it within China's regulated securities and investment-banking sector. In April 2007, Pacific Securities was converted into a company limited by shares, with a nominal share value of CN¥1. The company subsequently became listed on the Shanghai Stock Exchange through a share-exchange arrangement involving Unida, a company that was delisted in 2007. The listing period was accompanied by reports concerning the identities and relationships of parties involved in the transaction. Xiao Jianhua was reported to have been behind the operation, while alleged irregularities were discussed after Wang Yi, a former vice-chairman of the China Securities Regulatory Commission and later vice-governor of the China Development Bank, was arrested. The available reference does not establish a definitive adjudication against Pacific Securities, so these events are recorded as reported scrutiny rather than as a confirmed finding of wrongdoing by the company. In December 2007, ownership was distributed among a consortium that included Beijing Ximeng Real Estate, Beijing Huaxin Liuhe Investment, China Foreign Economy and Trade Trust, UOB Mainland Investment, Yunnan State-Owned Assets Management, CMST Development and other investors. Several parties were subject to restrictions on selling their shares. In March 2010, most members renewed their shareholder agreement, while Yunnan State-Owned Assets Management transferred part of its interest to Yunnan Industrial Investment Group. The consortium's combined position was reported at 39.88 percent at that stage. It later declined as members disposed of shares. By December 2011 and December 2012, the combined holding had fallen to 32.68 percent and 25.38 percent respectively. The shareholder agreement expired again in March 2013. At that point, Beijing Huaxin Liuhe Investment slightly increased its position, Yunnan Industrial Investment Group retained a smaller stake, and several other consortium members reduced their holdings. Contemporary reporting also ranked Pacific Securities poorly among listed Chinese securities firms by first-half revenue, illustrating the competitive pressure faced by the business. Pacific Securities pursued international expansion in 2012 by establishing a joint venture in Laos. The company was reported to own 39 percent of Lao-China Securities, headquartered in Vientiane. The firm also controlled a Nasdaq-listed special purpose acquisition company. These activities broadened the company's corporate and cross-border footprint beyond its domestic brokerage and investment-banking operations. Capital restructuring was another important stage in the company's development. In April 2014, Pacific Securities raised CN¥3.759 billion through a non-public offering at CN¥5.37 per share. In December of the same year, each old share received 0.5 additional share through the conversion of share premium into share capital. Reported share capital consequently increased from 1,653,644,684 shares to 3,530,467,026 shares. At the end of 2015, Beijing Huaxin Liuhe Investment was the only shareholder reported to own more than 5 percent, holding 12.75 percent, or 450,248,500 shares. A substantial portion of that position was restricted or pledged to financial institutions. Dalian Tiansheng Shuobo Technology was reported as another significant shareholder, with 4.25 percent. By 28 November 2016, Pacific Securities was included in the CSI 300, CSI 200 and SSE 180 indexes. The supplied material does not provide sufficiently current information about its management, ownership, financial condition, website or operating status beyond these historical disclosures.
- 2016
Index constituent status
[1]The company was reported as a constituent of the CSI 300, CSI 200 and SSE 180 indexes as of 28 November.
- 2014
Recapitalization and share-capital expansion
[1]The firm raised CN¥3.759 billion in a non-public offering and increased its share capital through a subsequent share-premium conversion.
- 2012
Laos joint venture established
[1]Pacific Securities founded a joint venture in Laos, later identified as Lao-China Securities.
- 2010
Shareholder agreement renewed
[1]Most members of the principal shareholder consortium renewed their agreement, while the former Yunnan state asset holder transferred part of its stake to Yunnan Industrial Investment Group.
- 2007
Conversion into a shareholding company
[1]The firm became a company limited by shares in April, with a nominal share value of CN¥1.
- 2007
Shanghai Stock Exchange listing
[1]Pacific Securities completed a listing-related share exchange involving Unida, which was later delisted.
- 2004
Company founded
[1]Pacific Securities was established and took over clients from bankrupt Yunnan Securities.
Products and positioning
A Chinese listed securities firm serving brokerage, investment-banking and capital-markets needs, with historical roots in Yunnan and selected cross-border activities in Laos.
Brokerage · 2004
Securities brokerage
Pacific Securities' core business is securities brokerage in China. Its institutional history began with the transfer of Yunnan Securities clients, indicating a traditional customer-facing brokerage base. The available material does not identify specific trading platforms, fee schedules, asset classes or current distribution channels.
Capital markets
Investment banking
The company is described as an investment bank and securities firm, placing it in China's corporate-finance and capital-markets ecosystem. Its listed-company structure and recapitalization are part of that institutional profile. Specific underwriting mandates, advisory products and current investment-banking franchises are not identified in the supplied material.
Cross-border financial services · 2012
Lao-China Securities participation
Pacific Securities was reported to hold a 39 percent interest in Lao-China Securities, a Vientiane-based company established through a Laos joint venture. This holding represents the firm's principal documented overseas operating connection in the supplied sources. Current ownership and business activity are not confirmed here.
Controversies
2007
Scrutiny surrounding the Shanghai listing
Reports connected Xiao Jianhua with the operation that placed Pacific Securities on the Shanghai Stock Exchange and discussed alleged irregularities after the arrest of Wang Yi. The supplied reference does not provide a final legal determination against Pacific Securities itself.
Brand decisions
2014
Capital restructuringStrategyBackground
Pacific Securities pursued a larger equity base and recapitalization.
Action taken
The company completed a CN¥3.759 billion non-public offering at CN¥5.37 per share and later converted share premium into additional shares.
Aftermath
Reported share capital rose from 1,653,644,684 shares to 3,530,467,026 shares.
Non-public offering. CN¥3.759 billion raised (April 2014)
2012
Expansion through a Laos joint ventureM&ABackground
The company sought an overseas platform in mainland Southeast Asia.
Action taken
Pacific Securities established a joint venture in Laos and was later reported to hold 39 percent of Lao-China Securities.
Aftermath
The move gave the company a documented cross-border presence in Vientiane, although the available material does not quantify its commercial results.
Recent events
Huachuang Securities plans to terminate its acquisition of Pacific Securities[2]
Reported:
Huachuang Yang'an announced that its wholly owned subsidiary Huachuang Securities planned to terminate its acquisition of Pacific Securities, citing a major change in the transaction environment.
Huachuang Securities and Jia Yu Investment terminate Pacific Securities share-transfer deal[3]
Reported:
Huachuang Securities and Pacific Securities announced that Jia Yu Investment and Huachuang Securities had agreed to terminate their share-transfer and voting-rights proxy transaction after the agreed three-month period elapsed. The parties said they would arrange the return of the deposit and release of the share pledge under the agreements.
Huachuang Securities–Pacific Securities acquisition agreement terminated[4]
Reported:
Pacific Securities announced that its largest shareholder, Beijing Jiayu Investment, and Huachuang Securities had signed an agreement terminating their share-transfer and voting-rights entrustment agreements for the proposed transaction.
Sources10 sources
- 1Pacific Securitiesen.wikipedia.org
- 2华创证券拟终止收购太平洋证券finance.sina.com.cn
- 3华创证券与嘉裕投资终止太平洋证券股份转让交易finance.sina.com.cn
- 4华创证券收购太平洋证券协议终止finance.sina.com.cn
- 5华创阳安股份有限公司关于华创证券有限责任公司终止收购太平洋证券股份有限公司股份的公告finance.sina.com.cn
- 6华创证券收购太平洋证券告吹finance.sina.com.cn
- 7华创证券宣布终止收购太平洋 一段“联姻”因何终结？finance.sina.com.cn
- 8华创证券终止收购 太平洋证券大股东易主“告吹”finance.sina.com.cn
- 9华创证券终止收购太平洋证券股份finance.sina.com.cn
- 10交易环境生变 华创证券终止收购太平洋证券finance.sina.com.cn
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