• Orient Securities agreed to buy 100% of Shanghai Securities for CNY 25.12 billion under a definitive agreement signed July 27.
• Consideration includes CNY 23.55 billion in 2,288,629,735 newly issued A shares priced at CNY 10.29 each.
• The remaining CNY 1.57 billion will be paid in cash to Guotai Haitong for part of its stake.
• Shanghai Securities shareholders include Bailian Group (50%) and Guotai Haitong (24.99%); the target would become a wholly owned subsidiary.
• Shanghai Securities reported total assets of CNY 95.87 billion and net profit of CNY 1.32 billion for the year ended Dec. 31, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Orient Securities Co. Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260727-12257945), on July 27, 2026, and is solely responsible for the information contained therein.