Shanghai DZH announces progress on major asset restructuring

Shanghai DZH (SSE:601519) announced updates on its major asset restructuring involving a share swap merger with Xiangcai Securities. The company is pursuing the merger, where Xiangcai Securities will issue A-shares to swap with Shanghai DZH's A-share shareholders, coupled with a private placement of A-shares to raise supporting funds. The proposed transaction received initial approval at Shanghai DZH’s board and supervisory meetings held on March 28, 2025. As of the date of the announcement, audit work and due diligence are ongoing. Shanghai DZH will release further announcements upon the completion of relevant procedures and information disclosure. The company has cautioned investors to read the risk factors in the preliminary plan.