Guolian Securities Co., Ltd. (SEHK:1456) agreed to acquire 95.48% stake in Minsheng Securities Co.,Ltd. from group of sellers on April 25, 2024. The issue price is determined to be CNY 11.31 per share. Luoyang Lier intends to sell its 146 million shares of Minsheng Securities.

As of May 14, 2024, board of directors of Beijing Lier appoved the transaction. The acquisition is subject to the Beijing Lier High-temperature Materials?s shareholders? meeting, Guolian Securities?

directorate, shareholders? meeting, A-share type shareholders? meeting, H-share type shareholders?

meeting, competent state-owned assets supervision agency, Shanghai Stock Exchange and CSRC?s registration approval.