Recently, an equity transfer of Open Source Securities attracted attention. Dongxi'an Qujiang Culture Finance Holdings Co., Ltd., a small and medium stock of Open Source Securities, listed and transferred all of its Open Source Securities shares, with a reserve price of 210 million yuan. According to statistics, since this year, shares of many small and medium-sized brokerage firms, such as Donghai Securities and Chase Securities, have been placed on the “shelves” for transfer. Behind the equity transfer of small to medium brokerage firms, there are two main lines of active withdrawal and passive disposal. Shareholders' financial status is one of the driving factors in terms of active withdrawal. In terms of passive disposal, cases of shareholders' debts triggering judicial auctions continue to increase.

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