CICC and China Electronics Corporation Sign Strategic Cooperation Memorandum

On July 27, 2018, CICC and China Electronics Corporation ( CEC) held a signing ceremony for the Strategic Cooperation Memorandum in Tri-Tower, Beijing. Witnessed by Bi Mingjian (Director, Chief Executive Officer and Chairman of the Management Committee of CICC), Rui Xiaowu (Chairman of the Board of CEC) and members of senior management of both parties, Huang Zhaohui (Member of the Management Committee and the Head of CICC IBD) and Wang Xiaoxiang (Chief Accountant of CEC) signed a strategic cooperation memorandum on behalf of both parties.

CICC is China’s oldest joint-venture investment bank and an international best practices pioneer. With long track record of professional service, CICC completed many precedent-setting transactions and deeply participated in China’s economic reform and development. Since the inception in 1995, CICC has been consistently committed to providing high-quality, value-added financial services to clients. CICC has established full-service business model offering investment banking, equities, FICC, wealth management and investment management, all on the basis of strong research coverage. Owing to its professional knowledge and quality customer services, CICC has received numerous financial industry honors including the Best Investment Bank in China, Best Sales Service Team, and Most Influential Research Institution awards bestowed at home and abroad.

CEC is a mainstay state-owned enterprise directly under the central government. With internet security as its core business and core capability, CEC has various major businesses, which include new display, internet security and information technology, integrated electric circuits, high-tech electronics, and information services, etc. After 29 years of development, CEC has become the largest state-owned comprehensive IT group company in China, and ranked among the world’s top 500 enterprises on the Fortune 500 for eight consecutive years.

After the signing of this Strategic Cooperation Memorandum, CICC and CEC will establish long-term strategic business cooperation on the fields such as investment banking, industrial investment, asset management and international business to give full play to their respective professional advantages in industries and financial services, which will enhance business value of both parties.

CICC has cooperated with CEC in investment banking and private equity fund. In 2018, CICC Capital, a subsidiary of CICC, together with China Electronics Optics Valley Union Holding Company Limited, which is a subsidiary of CEC, and China Institute of Information Security established a fund management company to launch a RMB private equity fund (CLP fund) focusing on the investment of the emerging electronics industry chain. It is expected to complete the initial closing of about 3 billion RMB in early August. The signing of the Strategic Cooperation Memorandum will provide a broader opportunity for comprehensive and further strategic cooperation between the two parties.