Guotai Junan Securities Co., Ltd. (SHSE:601211) entered into Equity Transfer Agreement to acquire additional 15% stake in Huaan Funds Management Co., Ltd. from Shanghai Shangguo Investment Management Co.,Ltd. for CNY 1.8 billion on October 8, 2021. The payment of consideration shall be settled within five business days from the Effective Date. The transaction is financed from internal resources of Guotai Junan Securities Co., Ltd. For the year 2020, Huaan Funds Management Co., Ltd. reported Profit after taxation of of CNY 71.06 million and Net assets of CNY 3.4 billion. The transaction is subject to the approval from the competent state assets supervisory authority of the PRC and the CSRC and has been approved by board of Guotai Junan Securities. The registration with competent industry and commerce authorities for the Proposed Acquisition should be completed within 30 days after the grant of approval from the CSRC.

Guotai Junan Securities Co., Ltd. (SHSE:601211) completed the acquisition of additional 15% stake in Huaan Funds Management Co., Ltd. from Shanghai Shangguo Investment Management Co.,Ltd. on June 10, 2022.