Guolian Minsheng: Minsheng Securities' existing investment banking projects will be transferred and incorporated into Guolian Minsheng's underwriting and sponsorship business starting from September 23rd.

On the morning of September 24, Guolian Minsheng announced that the equity projects in the process of approval, registered but not yet completed issuance, approved but not yet listed, and continuously supervised in the Shanghai Stock Exchange, Shenzhen Stock Exchange, Beijing Stock Exchange, National Equities Exchange and Quotations system, as well as all other projects in counseling, bond underwriting, trustee management, and financial advisory services, will be transferred and integrated into Guolian Minsheng underwriting and sponsorship starting from September 23. Projects related agreements signed by Minsheng Securities will continue to be fulfilled by Guolian Minsheng underwriting and sponsorship, with all rights and obligations of Minsheng Securities in the original agreements being transferred to Guolian Minsheng underwriting and sponsorship, who will continue to provide services to clients as agreed in the original agreements. The announcement stated that Guolian Minsheng has completed the purchase of 99.26% of Minsheng Securities' shares and related fundraising matters, and is proceeding with the integration work in an orderly manner. After this acquisition, Guolian Minsheng's underwriting and sponsorship business is steadily integrating with Minsheng Securities' investment banking business, with Guolian Minsheng underwriting and sponsorship being designated as the main entity for carrying out the company's integrated investment banking business.