Guotai Junan (02611): The Hong Kong Securities and Futures Commission has approved Guotai Junan Securities' application to become a major shareholder of several subsidiaries of Haitong.

Guotai Junan (02611) and Haitong (06837) jointly announce that on December 19, 2024, the Securities and Futures Commission of Hong Kong has approved Guotai Junan Securities to become a major shareholder of certain subsidiaries of Haitong (as defined in Part 6 of Schedule 1 to the Securities and Futures Ordinance of Hong Kong). Therefore, the condition set out in paragraph (a) of the implementation conditions of the merger agreement, that the proposed merger obtains the necessary approval, filing or registration with the Securities and Futures Commission of Hong Kong, has been fulfilled. Regarding the proposed merger, apart from the disclosures made above and obtaining approval from the Shanghai State-owned Assets Supervision and Administration Commission, as well as approval from the State Administration for Market Regulation for all necessary anti-monopoly filings in China, and obtaining approval from Guotai Junan and Haitong shareholders (as disclosed in the November update announcement, joint letter, and December update announcement), as of the date of this joint announcement, the other conditions of the merger agreement have not been met. As for the proposed issuance, apart from obtaining approval from the Shanghai State-owned Assets Supervision and Administration Commission and obtaining approval from Guotai Junan and Haitong shareholders (as disclosed in the November update announcement, joint letter, and December update announcement), as well as obtaining approval from the subscribing shareholders for the proposed issuance, as of the date of this joint announcement, the other prerequisites of the subscription agreement have not been met.