Orient Securities (03958) has announced its plan to acquire 100% of Shanghai Securities through a combination of A-share issuance and cash payments. The sellers include Bailian Group, Guotai Haitong, International Investment, International Group, and Shanghai Chengtou. Specifically, Orient Securities will issue A-shares to acquire 50% of Shanghai Securities held by Bailian Group, 16.3333% held by International Investment, 7.6767% held by International Group, and 1% held by Shanghai Chengtou. For the stake held by Guotai Haitong, 18.7400% will be acquired via A-share issuance, while 6.2500% will be purchased with cash. The A-share issuance price has been set at 10.29 yuan per share.

Shanghai Securities is primarily engaged in brokerage services, proprietary securities trading, futures business, and credit services, alongside investment banking, asset management, and fund evaluation research. As of December 31, 2025, Shanghai Securities oversees two wholly-owned subsidiaries and one wholly-owned secondary subsidiary, operating nine branches and 72 securities business offices. Its business network is centered in Shanghai and extends across the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei region, and Chengdu-Chongqing economic zone, providing comprehensive, systematic, multi-level, and professional financial services to clients.

Following the transaction, Orient Securities will maintain its core business operations. The company aims to integrate resources from both entities to achieve synergistic benefits, expand its asset scale and capital strength, and enhance its comprehensive financial service capabilities. This move is expected to strengthen Orient Securities' competitiveness in wealth management, investment banking, and institutional services, solidifying its industry position and improving its capacity to serve the real economy and contribute to economic and social development.