Haitong Securities shareholders approve merger with Guotai Junan

Shareholders of Haitong Securities (SSE: 600837) have overwhelmingly approved the proposed merger with Guotai Junan Securities. The resolutions, passed at the 2024 Second Extraordinary General Meeting, First A Share Class Meeting, and First H Share Class Meeting, authorize a share swap and raise additional capital. Over 99% of A-shares and over 99% of H-shares voted in favor of the merger plan, surpassing the required two-thirds majority. The merger structure involves Guotai Junan absorbing Haitong Securities. Shareholders also approved related proposals regarding share issuance, pricing, listing location, and employee arrangements. The resolutions authorize the board to manage transaction details. The meetings, chaired by Chairman Zhou Jie, met quorum and legal requirements according to the company’s filing.