According to China Securities Taurus, recently, Guotai Junan held an online 2024 interim performance briefing. In response to the absorption and merger of Haitong Securities, Guotai Junan Chairman Zhu Jian said when answering investors' questions that this restructuring aims to respond to the national strategy, promote the building of a first-class investment bank, conform to the strategic development directions of the two companies, help the two sides complement each other's advantages, enhance core functions, improve the capacity of financial services for the real economy, and contribute to further optimizing the financial state-owned assets layout in Shanghai and promoting the high-quality development of the securities industry. Previously, Guotai Junan and Haitong Securities announced simultaneously that they signed a legally binding cooperation agreement on September 5, 2024, to carry out the merger through absorption and share swap. Guotai Junan will conduct the share swap absorption merger of Haitong Securities by issuing A-shares to all A-share swap shareholders of Haitong Securities and issuing H-shares to all H-share swap shareholders of Haitong Securities, and raise supporting funds by issuing A-shares. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is the domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same actual controller. Both companies are under the same actual controller, and both are managed under the framework of one China. The companies comply with the laws of Hong Kong and mainland China.