China Merchants Securities: Equity transfer adjusts indirect ownership, control unchanged

China Merchants Securities (600999) announced an equity transfer where Shenzhen Chuyuan Investment Development Co., Ltd. (Chuyuan Investment) will transfer its 50% equity in Shenzhen Jisheng Investment Development Co., Ltd. (Jisheng Investment) to China Merchants Financial Holdings Co., Ltd. (China Merchants Financial). This change, effective September 10, 2025, is not expected to trigger a tender offer under the "Measures for the Administration of the Takeover of Listed Companies."

Prior to the transfer, China Merchants Financial held 100% of Chuyuan Investment and directly 50% of Jisheng Investment. Chuyuan Investment held the remaining 50% of Jisheng Investment. Jisheng Investment held 1,703,934,870 A shares of China Merchants Securities, representing 19.59% of the total share capital. China Merchants Financial, directly and indirectly, held 44.17% of China Merchants Securities.

Following the transfer, China Merchants Financial will hold 100% of Jisheng Investment. This transaction will not alter the number of China Merchants Securities shares held by Jisheng Investment, nor will it change China Merchants Financial's aggregate direct and indirect shareholding, which remains at 44.17%. The controlling shareholder and ultimate actual controller of China Merchants Securities remain unchanged.