Gelonghui May 25th 丨Oriental Huicai Securities (08001.HK) announced,On May 25, 2022, the company and the sellerGrand Well Ventures LimitedA memorandum of understanding is concluded, according to which the company (as the buyer) intends to acquire and the seller (as the seller) intends to sellTarget company Hong Kong Lee Capital Co., Ltd. AllShares, subject to (including) conclusion of an agreement and implementation of its terms and conditions.

The target company is a limited company incorporated in Hong Kong. The target company is a corporation licensed by the Securities and Futures Commission that can carry out Type 1 (trading securities), Type 4 (advising on securities) and Type 9 (providing advice on securities) and Type 9 (providing asset management) activities under the Securities and Futures Ordinance, and is mainly engaged in the provision of securities brokerage, placement and underwriting, investment advisory, investment advisory, discretionary investment management and fund management services in Hong Kong.

The Group has focused on developing the financial industry in recent years. It has been looking for business and investment opportunities to strengthen its core financial business and expand its profit sources. On the other hand, as a financial institution, the target company provides a wide range of services to high-net-worth clients and professional investors, in particular, it specializes in providing placement and underwriting services in Hong Kong. In view of this, the directors believe that through possible acquisitions, the Group will be able to reach out to more institutional customers, which will benefit the Group's diversified development and enhance prospects. The directors also believe that the possible acquisition will help the Group's long-term development and bring strong synergies to the Group's core business.