Guotai Junan Securities Co., Ltd. (SHSE:601211) entered into an agreement to acquire an additional 8% stake in Hua An Fund Management Co., Ltd. from Shanghai Industrial Investment (Group) Co., Ltd. for CNY 1 billion on May 24, 2022. The consideration will be paid in cash by internal resources. Upon completion, Guotai Junan Securities will hold 51% stake in Hua An Fund Management. In the year ending on December 31, 2021, Hua An Fund Management generated profit before taxation of CNY 1.3 billion and profit after taxation of CNY 1 billion and had net assets of CNY 4.1 billion. The deal is subject to approval by Guotai Junan Securities' shareholders, Shanghai State-owned Assets Supervision and Administration Commission and China Securities Regulatory Commission. As of July 8, 2022, the deal has been approved in first Extraordinary General Meeting of Shareholders of Guotai Junan Securities. Transaction has been approved by China Securities Regulatory Commission.

Altus Capital Limited acted as financial advisor to Guotai Junan Securities.
As of November 4, 2022, The deal is approved by Shanghai State-owned Assets Supervision and Administration Commission and China Securities Regulatory Commission.

Guotai Junan Securities Co., Ltd. (SHSE:601211) entered into an agreement to acquire an additional 8% stake in Hua An Fund Management Co., Ltd. from Shanghai Industrial Investment (Group) Co., Ltd. for CNY 1 billion on November 4, 2022.