On the morning of September 10th, Guotai Junan held an online performance briefing.
Chairman Zhu Jian, Vice Chairman and President Li Junjie, Vice President, Chief Financial Officer, Chief Risk Officer, Board Secretary Nie Xiaogang, as well as independent directors Ding Wei, Li Renjie, Bai Wei, Wang Guogang, Yan Zhixiong, and Pu Yonghao attended.
Regarding the most concerning issue for investors, the absorption and merger of Haitong Securities by Guotai Junan, Zhu Jian stated that this restructuring is in response to national strategies, aiming to promote the creation of a first-class investment bank. It aligns with the strategic development directions of both companies, facilitates mutual complementarity, enhances core functions, improves the level of financial services to the real economy, contributes to further optimizing the financial state-owned assets layout in Shanghai, and promotes the high-quality development of the securities industry.
As for the business plan, changes and adjustments in investment banking business after the absorption and merger of Haitong Securities, and the plans for the subsidiaries of Haitong Securities, company executives stated that the specific cooperation plan of this restructuring is subject to the transaction documents further signed by both parties. This restructuring still needs to go through necessary internal decision-making procedures and must be formally implemented after approval by the competent regulatory authorities. The implementation is still uncertain. Regarding the follow-up progress of this restructuring, the company will strictly fulfill its disclosure obligations in accordance with relevant laws and regulations. The information will be based on announcements published by the company on the Shanghai Stock Exchange website and the Hong Kong Stock Exchange disclosure website.
In addition, there were questions about the international business development of Guotai Junan, to which Zhu Jian responded that the company is building an international business platform around Guotai Junan Financial Holdings. In Hong Kong, it mainly conducts brokerage, corporate financing, asset management, loans and financing, financial products, market-making, and investment business through Guotai Junan International, and actively expands its presence in the United States, Europe, Southeast Asia, and other regions.
In the first half of 2024, the company's international business focused on strengthening core business capabilities, enhancing cross-border integrated management, pragmatically advancing strategic layouts, continuously enhancing the market influence of overseas subsidiaries, and achieving significant revenue growth. Among them, the wealth management business improved product layout, provided more diversified solutions, optimized the &#34;Junhong Global Pass&#34; APP platform functionality; the investment banking business enhanced cross-market service capabilities, continued to promote project cooperation; the cross-border derivatives business enriched product varieties, increased client expansion efforts, and consolidated its leading position; international layout made positive progress, with the UK subsidiary completing the first batch of equity northbound client transactions, the Macau subsidiary completing the first Hong Kong stock brokerage transaction, and the Vietnam subsidiary's stocks included in the MSCI Frontier Markets Index. By the end of June 2024, client assets under custody increased by 8.4% compared to the end of the previous year; the underwriting scale of the investment banking business reached HKD 187.7 billion, a year-on-year increase of 169.7%, ranking second in scale among Chinese securities firms.
In the future, the company will remain confident, face challenges head-on, seize opportunities, and make a leap forward, firmly grasp the opportunity to further deepen comprehensive reform, promote the modernization of the Chinese style, continue to solidly carry out the &#34;Five Major Tasks,&#34; take serving the financial power and the construction of Shanghai International Financial Center as its responsibility, use the deepening and enhancing of state-owned enterprise reform as a powerful lever, focus on strategic traction, highlight &#34;strategic agility,&#34; and effectively promote the implementation of strategic planning with high quality; focus on reform and enhancement, highlight &#34;business synergy,&#34; deepen the construction of the three major customer service systems, consolidate and enhance the three major core competitive advantages
Focus on empowering management, highlight &#34;service professionalism&#34;, enhance the efficiency of company management, continuously improve the core competitiveness of various main business operations, and accelerate the progress towards becoming an investment bank with international competitiveness and market influence

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Guotai Junan Securities Chairman Zhu Jian answered questions about the merger with Haitong Securities at the performance briefing. He stated that the restructuring aims to promote the development of a first-class investment bank, aligns with national strategy, and will help complement each other's strengths to enhance financial service capabilities. Specific business plans will be further discussed in future agreements. The company also plans to expand its international business through GUOTAI JUNAN I, striving to increase the influence of overseas subsidiaries, with expectations for continuous growth in its international business

- The China International Capital Corporation (CICC) held an online performance briefing where key figures discussed the merger with Haitong Securities, citing strategic alignment, complementary advantages, and enhanced financial services to boost the economy. Specific merger details are pending internal approvals and regulatory clearance, with updates to be disclosed as per legal requirements on official platforms. Additionally, the company emphasized international business growth, focusing on core capabilities, market influence, and revenue growth in wealth management, investment banking, and derivatives trading.
- By mid-2024, the company saw significant growth in international operations, with increased client assets, expanded bond underwriting, and a strengthened market position. Future plans include deepening reforms, advancing modernization, and enhancing strategic agility and operational synergy to solidify its role in China's financial landscape and Shanghai's international financial hub development.
- The company aims to excel in five key areas, aligning with national financial goals, deepening reform efforts, and enhancing service excellence to advance as a globally competitive investment bank with a strong market presence and strategic impact.

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