BEIJING, Nov. 25, 2024 —

Guotai Junan Securities Co., Ltd. and Haitong Securities Co., Ltd. jointly announced a merger and restructuring plan on Thursday, filing relevant documents with the Hong Kong Exchanges and Clearing Limited and the Shanghai Stock Exchange.

A shareholder meeting to finalize the merger is scheduled for December 13th.

As of the end of Q3 2024, the combined net assets of both companies exceeded 341.5 billion yuan (approximately US$47.13 billion), and net capital reached 177.4 billion yuan – both leading figures in China’s securities industry.

Their combined investment banking operations led the industry in net income, net interest income, and lending scale during the first three quarters of the year.

Based on 2023 data, the merged entity would also hold top positions in other key metrics, including retail customer numbers, IPO underwriting volume and value, public offering revenue, custody outsourcing scale, and number of key regional offices.

Guotai Junan intends to raise up to 10 billion yuan post-merger to bolster its international business, trading and investment activities, digital transformation efforts, and working capital.

Both companies are committed to comprehensive business, asset, financial, personnel, and institutional integration to drive operational efficiencies, enhance profitability, and achieve synergies. The goal is to create a globally competitive, leading investment bank.

Source: Guotai Junan Securities Co., Ltd.

CONTACT: Contact person: Mr. Lu, Tel: 86-10-63074558