Guolian Securities Co., Ltd. (SEHK:1456) entered into equity transfer agreement to acquire 24.5% stake in ZhongRong Fund Management Co., Ltd. from Shanghai Rongcheng Investment Co., Ltd. for approximately CNY 720 million on February 14, 2023. The initial payment of approximately CNY 500 million, and the remaining equity transfer price shall be paid within five working days upon the satisfaction of the contractual conditions. The transaction is subject to obtain the consents, approvals or authorizations (if necessary) from other required regulatory authorities, and such consents, approvals or authorizations do not require any amendments to the Equity Transfer Agreement that cannot be mutually acceptable to the parties to the Equity Transfer Agreement or the creation of any additional or different obligations that cannot be mutually acceptable to the parties to the Equity Transfer Agreement. As of April 21, 2023, recently, China Securities Regulatory Commission approved the transaction.

Guolian Securities Co., Ltd. (SEHK:1456) completed the acquisition of 24.5% stake in ZhongRong Fund Management Co., Ltd. from Shanghai Rongcheng Investment Co., Ltd. on May 5, 2023.