On October 10th, Guolonghui | HTSC's research reports pointed out that GTJA (601211.SH) has successfully absorbed and merged with Haitong. The two combined entities will leverage each other's strengths, forming brand advantages in terms of customer base, service capabilities, and operational management. During the trading halt period, the market significantly rebounded. With adjusted assumptions such as stock fund trading volume, the forecasted EPS for 2024-26 is 1.18/1.42/1.83 yuan (previously 0.95/1.05/1.13 yuan), with a 2024 BPS of 19.47 yuan. Comparable companies' 2024E PB Wind consensus expectations for A/H are 1.49/0.77 times. Considering the integration will take some time and the effects need observation, A/H 2024E PB is discounted to 1.35/0.70 times, with a target price of 26.28 yuan/15.02 Hong Kong dollars (previously 19.33 yuan/9.56 Hong Kong dollars), maintaining a "buy" rating.