Shanghai Municipal People's Government Approval on the Merger and Restructuring of Guotai Junan Securities Co., Ltd. and Haitong Securities Co., Ltd.

The Shanghai Municipal People's Government approves the merger and restructuring of Guotai Junan Securities Co., Ltd. and Haitong Securities Co., Ltd., and instructs the Municipal State-owned Assets Supervision and Administration Commission to organize and implement the process in a stable and orderly manner.