In early September 2024, Guotai Junan’s plan to absorb and merge Haitong Securities was officially launched. Now, the merger and reorganization of the two securities firms has been approved.

The "Daily Economic News" reporter noticed that on the evening of January 17, 2025, Guotai Junan issued an announcement stating that the company's share exchange, absorption and merger of Haitong Securities, raising supporting funds and related transactions and other matters have obtained approval from the China Securities Regulatory Commission. Agree to registration and approval.

It is understood that after this approval, Guotai Junan’s share swap and absorption merger with Haitong Securities will be officially implemented. This means that the domestic securities firm with the largest net assets and net capital is about to be born.

As the first merger and reorganization of a leading securities firm since the implementation of the new "Nine Articles of the Nation", it is the largest "A+H" bilateral market merger and acquisition in the history of China's capital market and the largest integration case among listed securities firms. Guotai Junan and The merger and reorganization of Haitong Securities is considered by the industry to be an important step in building a world-class investment bank.

The announcement mainly includes eight aspects

According to the announcement issued by Guotai Junan on the evening of January 17, on January 17, 2025, the China Securities Regulatory Commission issued the "About Agreeing with Guotai Junan Securities Co., Ltd. Merged Haitong Securities Co., Ltd. and raised supporting funds to register and approve Guotaijun Ann Securities Co., Ltd. merged with Haitong Securities Co., Ltd., Haifutong Fund Management Co., Ltd. changed its main shareholder and actual controller, Wells Fargo Fund Management Co., Ltd. changed its main shareholder, and Haitong Futures Co., Ltd. changed its main shareholder and actual controller. Approval" (China Securities Regulatory Commission Permit [2025] No. 96).

The "Daily Economic News" reporter noticed that the above announcement mainly includes eight aspects of relevant content.

First, the registration application of Guotai Junan to absorb and merge Haitong Securities with an additional 5.986 billion shares was approved.

The second is to approve Guotai Junan’s registration application for issuing shares to raise supporting funds not exceeding 10 billion yuan.

The third is to approve the absorption and merger of Haitong Securities by Guotai Junan. After the completion of the merger, Haitong Securities was dissolved in accordance with the law, and the original branch of Haitong Securities was changed to the branch of Guotai Junan.

The fourth is to approve Guotai Junan to become the major shareholder of HFT Fund Management Co., Ltd. (hereinafter referred to as HFT Fund); to approve Shanghai International Group Co., Ltd. (hereinafter referred to as Shanghai International Group) to become the actual control of HFT Fund Person; has no objection to Guotai Junan's legal acceptance of a capital contribution of 153 million yuan from Haifutong Fund (accounting for 51% of the registered capital).