Guosheng Financial to absorb Guosheng Securities

** Guosheng Financial Holding (SZSE:002670) has received approval from the CSRC to absorb its wholly-owned subsidiary, Guosheng Securities. Once the merger is complete, Guosheng Securities will be dissolved, and Guosheng Financial Holding will change its name to Guosheng Securities Co., Ltd., inheriting all of the former subsidiary's branches, business operations, and its 30% stake (RMB 54 million) in Jiangxin Fund Management. Guosheng Securities must complete its deregistration within 12 months, and Guosheng Financial must complete its registration of changes within the same timeframe. The company believes the merger will not have a material impact on its current profits, assets or liabilities.