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Guolian Securities Disclosure of Major Asset restructuring PlanRoulettegoogleIt is proposed to issue A shares to purchase 100% shares of Minsheng Securities, raising a total of no more than 2 billion yuan for the development of Minsheng Securities business. The share issue price for this restructuring is set at 11.Roulettegoogle.31 yuan per share.

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[Guolian Securities plans to purchase 100% of Minsheng Securities through A-share issuance] Guolian Securities announced a major asset restructuring plan, which will purchase all shares of Minsheng Securities of 46 trading parties, including Guolian Group, in the form of A-shares. At the same time, the company plans to issue A shares to no more than 35 specific investors and raise no more than 2 billion yuan to support the business development of Minsheng Securities. After announcing the termination of the fixed increase on April 25, Guolian Securities plans to acquire 10.87 billion shares of Minsheng Securities by issuing shares. Although the current audit evaluation has not yet been completed, the transaction price will refer to the evaluation report and be determined through consultation between the two parties to the transaction. In addition, Beijing Lear (002392), time Publishing (600551) and Sophia (002572) also issued announcements to sell their shares in Minsheng Securities to Guolian Securities. The issue of goodwill becomes the focus of the market. According to the minutes of the first quarter 2024 results presentation meeting of Guolian Securities, the business, regional and institutional complementarities of the company and Minsheng Securities will form a strong joint force. Goodwill is expected to exceed 10 billion, but with reference to the experience of Citic Lyon acquisition, goodwill processing will be reduced. Management is optimistic about the annual assessment of goodwill and believes that there will not be a significant impairment under normal circumstances. Minsheng Securities has less derivatives business in its business structure, and the merger will mainly contribute to the balance sheet of Guolian Securities. It is expected that in 2024, the merged company will meet the relevant criteria for business qualifications and rise significantly in the ranking of brokerages.