Guotai Junan to absorb Haitong Securities in merger

Guotai Junan Securities Co., Ltd. (SSE:601211) and Haitong Securities Co., Ltd. announced a joint plan to merge, with Guotai Junan absorbing Haitong’s assets, liabilities, and business operations. The merger, approved by the China Securities Regulatory Commission (CSRC), aims to build a leading investment bank and boost global competitiveness. Starting March 14, 2025, Guotai Junan will integrate Haitong’s clients and services, ensuring a smooth transition. Haitong Securities' customer service hotline will transition to Guotai Junan's line by April 7, 2025. Certain services may be temporarily affected, and clients will have the option to transfer their accounts. This strategic move will consolidate resources and strengthen Guotai Junan’s market position.