The Pacific Securities was founded in 2004 and received the clients of bankrupted Yunnan Securities. In April 2007 it was converted to company limited by shares, with a nominal value of each. It was reported that Xiao Jianhua was behind the operation on listing the company to Shanghai Stock Exchange in 2007. Irregularity was founded after, by-then vice-governor of China Development Bank, Wang Yi was arrested. Wang was the vice-chairman of China Securities Regulatory Commission until 1999. In December 2007, the largest shareholder of the Pacific Securities was the consortium of Beijing Ximeng Real Estate, Beijing Huaxin Liuhe Investment, China Foreign Economy and Trade Trust, UOB Mainland Investment, Yunnan State-Owned Assets Management and CMST Development. The Pacific Securities also exchanged its shares with the shares of Unida, a company delisted in 2007. Other major shareholders were Puhua Investment, Taishan Xiangsheng, "China Energy Development Electricity " and "Heilongjiang Century Huarong Investment Management" Those shareholders owned 82.31% shares, with 36 months restriction to sell. 5 out of 6 companies renewed the shareholders' agreement in March 2010, as well as "Yunnan State-Owned Assets Management" transferred part of its stake to another Yunnan Government-owned company: Yunnan Industrial Investment Group. The consortium owned 39.88% shares of the company as the largest shareholder, as well as the chairman of the Pacific Securities, Zheng Yanan, was also the chairman of UOB Mainland Investment. However, the consortium sold most of their shares since 2011 The shareholders' agreement was expired again in March 2013, which only Huaxin Liuhe increased its shares, as well as Yunnan Industrial Investment Group retained its 3.19% shares; Beijing Ximeng Real Estate, UOB Mainland Investment and CMST Development sold their 7.62%, 2.31% and 1.42% shares to 3.79%, 0.31% and unknown level respectively. It was reported that Pacific Securities was ranked the least among the listed "securities firms" of China, in term of revenue of the first half of 2013. In 2012 the Pacific Securities founded a joint venture in Laos. In April 2014 the company recapitalized for by a non-public offering. Each old share also received 0.5 new share in December that year, making the share capital had increase from 1,653,644,684 to 3,530,467,026.
Shareholders
As at 31 December 2015, the only shareholder with more than 5% shares was Beijing Huaxin Liuhe Investment for 12.75%. Despite 225 million of them were restricted to sell, more than half of its shares were pledged, to China Fortune International Trust since December 2015, to China Merchants Securities since March–April 2015, as well as pledged to other companies. The shares pledged to China Merchants Securities, all of them were also pledged to the same investment bank from March 2014 to February 2015 ; the shares pledged to China Fortune International Trust, were also pledged to New China Fushi from April 2014 to November–December 2015. The second largest shareholder, which owned 4.25% shares, is a private company based in Dalian. The company bought 100 million number of shares from non-public offering for each. However, the company also pledged 140 million shares as at 31 December 2015.
Financial data
Note, share capital and number of shares had changed in 2007, 2012 and 2014
