Haitong Securities announced that Guotai Junan plans to absorb and merge Haitong Securities by issuing A shares to all A-share exchange shareholders of Haitong Securities and issuing H shares to all H share exchange shareholders of Haitong Securities, and to raise supporting capital by issuing A-shares. According to the relevant regulations of the Hong Kong Securities Regulatory Commission, as the surviving company, Guotai Junan applied to the Hong Kong Securities Regulatory Commission on matters relating to becoming the majority shareholder of an overseas subsidiary related to Haitong Securities after this merger. Recently, the Hong Kong Securities Regulatory Commission approved Guotai Junan as the surviving company and became the majority shareholder of overseas subsidiaries related to Haitong Securities after this merger. The transaction plan is subject to approval, approval, registration or approval from other competent supervisory authorities before it can be officially implemented, and there is uncertainty about whether it can be implemented.