On the evening of May 6, Orient Securities Company Limited issued announcements including a board resolution and a "Plan for Issuing Shares and Paying Cash to Acquire Assets and Connected Transaction." The merger and reorganization plan between Orient Securities and Shanghai Securities has been largely finalized, with expectations of strong complementary and synergistic effects. The future development of the merged Orient Securities appears promising.
According to the announcement, the transaction parties will follow the principles of complementary advantages and collaborative benefits to achieve the merger and reorganization. This will be done through Orient Securities issuing A-shares and paying cash to acquire 100% of Shanghai Securities' equity. The merger is positioned to support national strategies and the broader development of Shanghai as an international financial center. It aims to optimize the layout of Shanghai's state-owned financial assets and deepen reforms in state-owned financial enterprises, effectively enhancing the company's comprehensive financial service capabilities and core competitiveness. This move will accelerate the establishment of a first-class modern investment bank.
Through friendly negotiations, the parties have set the issuance price for Orient Securities' shares at 10.49 yuan per share, based on the average trading price of the company's A-shares over the 120 trading days preceding the pricing benchmark date. If any events such as dividends, stock dividends, capital reserve conversions, or rights issues occur between the pricing benchmark date and the completion of the issuance, the issuance price will be adjusted in accordance with relevant laws and regulatory requirements.
The audit and evaluation of Shanghai Securities, the target asset in this transaction, have not yet been completed. The final transaction price will be determined through full negotiation between the parties, based on the evaluation results issued by an asset appraisal institution compliant with the Securities Law and filed with the relevant state-owned asset supervision authorities.
Upon completion of the transaction, the merged Orient Securities is expected to see further growth in total assets, net assets, operating revenue, and net profit. Its profitability and risk resilience will improve, while its comprehensive competitiveness and sustainable operating capacity will be strengthened. Although the company's main business will remain unchanged, the integration of resources from both sides is anticipated to create complementary advantages, optimize client quality, expand the client base, balance the business structure, and enhance comprehensive service capabilities. This will strengthen the company's competitiveness in areas such as wealth management and investment banking, further consolidating its industry standing and elevating its ability to serve the real economy and regional development. Additionally, the introduction of strategic shareholders such as Bailian Group and International Group will provide important resources and support for the company's future growth.