Why is Essence Securities called SDIC Capital?

Essence Securities is not directly called SDIC Capital, but the controlling shareholder of Essence Securities is China Investment Fund (CICFH), referred to as China Investment Fund Co., Ltd. Therefore, the relationship between Essence Securities and SDIC Capital is the relationship between holding and being held, not the nominal direct connection.

China Investment Fund (SDIC Capital) is an investment company listed in Hong Kong, mainly engaged in investment holding, financial investment, fund investment and management, strategic investment and providing investment consulting services. Essence Securities is a securities company registered in Chinese mainland, mainly engaged in securities brokerage, investment banking, asset management, investment consulting and other financial services.

20 14 China investment fund became the controlling shareholder of essence securities by acquiring part of its equity. Therefore, there is an equity relationship between Essence Securities and China Investment Fund (SDIC Capital), but the name of Essence Securities does not directly reflect the name of SDIC Capital.