Guosheng Financial Gets Chinese Securities Regulator's Nod to Absorb Unit; Shares Up 3%

MT Newswires Live

2025/02/20

The China Securities Regulatory Commission approved Guosheng Financial Holding's (SHE:002670) plan to absorb and merge with its unit, Guosheng Securities, according to a Shenzhen Stock Exchange filing on Wednesday.

After the completion of the merger, Guosheng Financial, the remaining entity, will be renamed to Guosheng Securities and will take over the subsidiary's businesses and branches, including its 54 million yuan investment in Jiangxin Fund Management.

The regulator's approval is valid within 12 months, the financial provider said.

The company's shares jumped 3% in recent trade.

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