On July 27, Orient Securities Company Limited announced its plan to acquire 100% equity of Shanghai Securities Co., Ltd. through a combination of issuing A-share shares and cash payments, with a transaction consideration of 25.12 billion yuan.

Specifically, the consideration includes 23.55 billion yuan to be paid via share issuance and 1.57 billion yuan in cash. This transaction is classified as a related party transaction but does not constitute a backdoor listing. As of the valuation date of March 31, 2026, the total equity valuation of Shanghai Securities stands at 25.12 billion yuan, representing a premium rate of 24.85%.

The transaction is still subject to approvals from the company's shareholders' meeting, the Hong Kong Securities and Futures Commission, the Shanghai State-owned Assets Supervision and Administration Commission, the Shanghai Stock Exchange, and the China Securities Regulatory Commission, among other regulatory bodies.