Zheshang Securities Co., Ltd. (SHSE:601878) entered into the equity transfer agreement to acquire 7.6933% stake in Guodu Securities Co.,Ltd. from Guohua Energy Investment Co., Ltd. for CNY 1 billion on May 27, 2024. Upon completion of the previous acquisitions and the acquisition, Zheshang Securities shall hold an aggregate of 1.6 billion shares of Guodu Securities, representing 26.8387% equity interest. Zheshang Securities will finance the consideration of the Acquisition by its internal resources.

The deal has been approved by board of directors of Zheshang Securities Co., Ltd. The transaction is expected to close within ten business days from the date of approval of the Acquisition by CSRC.