Guotai Haitong (02611) intends to sell 24.99% equity of Shanghai Securities

Guotai Haitong (02611) announced on May 6, 2026 that the company, Bailian Group, Shanghai International Group Investment, Shanghai International Group, and Shanghai City Construction Group (each as sellers) have entered into a framework agreement with the buyer Orient Corporation Limited to sell the target assets, namely 100% equity of Shanghai Securities. In the agreement, (1) the 18.7400% equity held by the company will be paid by the buyer in the form of A-shares at the issuance price, while the remaining 6.2500% equity will be paid by the buyer in cash, and (2) the 50.0000% equity held by Bailian Group, 16.3333% equity held by Shanghai International Group Investment, 7.6767% equity held by Shanghai International Group, and 1.0000% equity held by Shanghai City Construction Group will be paid by the buyer in the form of A-shares at the issuance price. The potential transaction aligns with the development trend of mergers and acquisitions in the securities industry, and is conducive to deepening the reform of Shanghai's financial state-owned enterprises. The company's participation in this restructuring transaction will help optimize the company's asset structure, enhance asset quality and liquidity, and contribute to the construction of the Shanghai International Financial Center, better serving the economic development of Shanghai and the Yangtze River Delta region.