Daiwa Securities vs Dongxing Sec: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Daiwa Securities Group Inc. (8601.JP)

Q3 202613 Aug – 6 Oct 2026

▲2▼2

Record buybacks boost Daiwa, but data leak and rival gains weigh

Record buyback wave supports Daiwa's market position Japanese companies authorized a record 12.7 trillion yen in buybacks from April to August, according to Daiwa data. This shows Daiwa's market influence and a strong shareholder-return trend that supports brokerage activity and share prices.
It highlights a positive business trend and Daiwa's role as data source, which can lift sentiment.
Customer data leak at vendor hits Daiwa Daiwa Securities said about 110,000 customers' data may have leaked after unauthorized access at an outsourced vendor. This raises regulatory and reputational risk, which can pressure the stock until the issue is resolved.
It is a new negative event directly tied to Daiwa, affecting trust and compliance.
Mizuho-Rakuten alliance overtakes Daiwa in custody assets Mizuho Securities and Rakuten Securities now hold 121.7 trillion yen in combined custody assets, surpassing Daiwa's 116 trillion yen. This signals Daiwa losing ground to a rival, which could weigh on its competitive position and valuation.
It shows a competitive threat that may affect Daiwa's market share and pricing power.
Daiwa advances blockchain settlement with stablecoins Daiwa participated in Project Trinity's second phase, settling digital securities using stablecoins. This positions Daiwa at the forefront of blockchain-based settlement, a potential long-term efficiency and revenue driver.
It shows Daiwa embracing new technology that could improve its operations and competitiveness.

September 202613 Aug – 6 Oct 2026

▲2▼2

Record buybacks boost Daiwa, but data leak and rival gains weigh

Record buyback wave supports Daiwa's market position Japanese companies authorized a record 12.7 trillion yen in buybacks from April to August, according to Daiwa data. This shows Daiwa's market influence and a strong shareholder-return trend that supports brokerage activity and share prices.
It highlights a positive business trend and Daiwa's role as data source, which can lift sentiment.
Customer data leak at vendor hits Daiwa Daiwa Securities said about 110,000 customers' data may have leaked after unauthorized access at an outsourced vendor. This raises regulatory and reputational risk, which can pressure the stock until the issue is resolved.
It is a new negative event directly tied to Daiwa, affecting trust and compliance.
Mizuho-Rakuten alliance overtakes Daiwa in custody assets Mizuho Securities and Rakuten Securities now hold 121.7 trillion yen in combined custody assets, surpassing Daiwa's 116 trillion yen. This signals Daiwa losing ground to a rival, which could weigh on its competitive position and valuation.
It shows a competitive threat that may affect Daiwa's market share and pricing power.
Daiwa advances blockchain settlement with stablecoins Daiwa participated in Project Trinity's second phase, settling digital securities using stablecoins. This positions Daiwa at the forefront of blockchain-based settlement, a potential long-term efficiency and revenue driver.
It shows Daiwa embracing new technology that could improve its operations and competitiveness.

Latest13 Aug – 6 Oct 2026

▲2▼2

Record buybacks boost Daiwa, but data leak and rival gains weigh

Record buyback wave supports Daiwa's market position Japanese companies authorized a record 12.7 trillion yen in buybacks from April to August, according to Daiwa data. This shows Daiwa's market influence and a strong shareholder-return trend that supports brokerage activity and share prices.
It highlights a positive business trend and Daiwa's role as data source, which can lift sentiment.
Customer data leak at vendor hits Daiwa Daiwa Securities said about 110,000 customers' data may have leaked after unauthorized access at an outsourced vendor. This raises regulatory and reputational risk, which can pressure the stock until the issue is resolved.
It is a new negative event directly tied to Daiwa, affecting trust and compliance.
Mizuho-Rakuten alliance overtakes Daiwa in custody assets Mizuho Securities and Rakuten Securities now hold 121.7 trillion yen in combined custody assets, surpassing Daiwa's 116 trillion yen. This signals Daiwa losing ground to a rival, which could weigh on its competitive position and valuation.
It shows a competitive threat that may affect Daiwa's market share and pricing power.
Daiwa advances blockchain settlement with stablecoins Daiwa participated in Project Trinity's second phase, settling digital securities using stablecoins. This positions Daiwa at the forefront of blockchain-based settlement, a potential long-term efficiency and revenue driver.
It shows Daiwa embracing new technology that could improve its operations and competitiveness.

Dongxing Sec Co Ltd (601198.CG)

Q3 202614 Jul – 23 Sep 2026

▲4

Dongxing's merger with CICC approved; strong first-half profit growth

Merger with CICC approved The Shanghai Stock Exchange and CSRC approved Dongxing's merger with CICC. Shareholders will get 0.4376 CICC shares per Dongxing share, valuing it at 16.05 yuan, and the company applied for voluntary delisting.
This is the major event that drove the stock, making the merger near-certain and unlocking value.
Strong first-half profit growth First-half 2026 net profit rose 25.13% to 1.025 billion yuan, the fourth straight year of growth, with revenue up 11.40%. This fundamental strength supported the stock.
It shows the company's underlying business performed well, boosting investor confidence.
Regulatory M&A incentives Regulatory incentives for mergers and acquisitions in the securities sector supported consolidation, making the Dongxing-CICC deal more likely and beneficial.
It explains the favorable regulatory environment that helped the merger proceed.
Approval risk resolved The main risk was uncertainty over final CSRC approval, which could have delayed or blocked the deal and eroded the embedded premium. That risk has now largely resolved.
It highlights the removal of a key overhang that had been weighing on the stock.

August 202614 Jul – 23 Sep 2026

▲4

Dongxing's merger with CICC approved; strong first-half profit growth

Merger with CICC approved The Shanghai Stock Exchange and CSRC approved Dongxing's merger with CICC. Shareholders will get 0.4376 CICC shares per Dongxing share, valuing it at 16.05 yuan, and the company applied for voluntary delisting.
This is the major event that drove the stock, making the merger near-certain and unlocking value.
Strong first-half profit growth First-half 2026 net profit rose 25.13% to 1.025 billion yuan, the fourth straight year of growth, with revenue up 11.40%. This fundamental strength supported the stock.
It shows the company's underlying business performed well, boosting investor confidence.
Regulatory M&A incentives Regulatory incentives for mergers and acquisitions in the securities sector supported consolidation, making the Dongxing-CICC deal more likely and beneficial.
It explains the favorable regulatory environment that helped the merger proceed.
Approval risk resolved The main risk was uncertainty over final CSRC approval, which could have delayed or blocked the deal and eroded the embedded premium. That risk has now largely resolved.
It highlights the removal of a key overhang that had been weighing on the stock.

Latest31 Jul – 23 Sep 2026

▲4

Dongxing Securities Is Being Absorbed by CICC and Delisted

Strong interim profit growth Dongxing's 2026 interim net profit rose 25.13% to 1.025 billion yuan, the fourth straight year of growth, with revenue up 11.40%. Solid earnings support the value of the shares being swapped into CICC stock.
It shows the underlying business is performing well, which supports the value shareholders receive in the merger.
Regulator approves CICC merger China's securities regulator approved CICC's absorption of Dongxing and Cinda Securities. This clears the main hurdle, making the deal near-certain and giving Dongxing holders a clear path to CICC shares.
Regulatory approval removes the biggest risk that the merger might fail, directly affecting the value of Dongxing shares.
Share swap terms set at 16.05 yuan Dongxing shareholders will receive 0.4376 CICC shares for each Dongxing share, valuing Dongxing at 16.05 yuan per share. This fixed exchange ratio anchors Dongxing's price to CICC's market value.
The swap ratio and price directly determine what Dongxing investors get, making it the key pricing driver.
Delisting application accepted Dongxing applied for voluntary delisting and the Shanghai Stock Exchange accepted it on September 23. This is the final step before the company dissolves into CICC, ending its separate listing.
It confirms the merger is proceeding to completion, which is the ultimate event affecting Dongxing's shares.

14 Jul – 27 Aug 2026

▲3

CICC merger clears key approval; Dongxing earnings jump

CICC merger wins Shanghai Stock Exchange approval The Shanghai Stock Exchange approved CICC's share-swap merger with Dongxing and Cinda. This is the biggest step yet toward Dongxing being bought out at a 26% premium to its recent average price, which supports the stock. Final CSRC approval is still pending, so the deal is not yet certain.
This is the period's most important new event and directly drives Dongxing's price through the takeover premium.
First-half profit rises 25% year-on-year Dongxing reported first-half net profit of 1.025 billion yuan, up 25.13% from a year earlier, with second-quarter profit up 90% from the first quarter. Stronger earnings make the company more valuable and support the share price on their own, even aside from the merger.
It is a new, company-specific fundamental result that independently supports the stock price.
New M&A bonus in broker ratings backs consolidation Regulators added a first-ever bonus for mergers and acquisitions in this year's broker rating system, encouraging consolidation. Dongxing is part of a major merger, so it stands to benefit from this policy tailwind, which supports the deal's logic and the stock.
It is a new regulatory change that reinforces the merger trend Dongxing is part of.
Deal still needs final CSRC approval Even after the exchange approval, the merger still requires China Securities Regulatory Commission sign-off, and the company says there is uncertainty it will complete. If the deal were blocked or delayed, the premium embedded in Dongxing's price could shrink, so this is a real risk to watch.
It is the main counterweight that keeps the merger from being a certainty.