Zheshang Securities Co., Ltd. (SHSE:601878) signed the share transfer framework agreement to acquire 4.717% stake in Guodu Securities Co.,Ltd. from Chongqing International Trust Co., Ltd. for approximately CNY 740 million on December 8, 2023. Zheshang Securities entered into Equity Transfer Agreement to acquire 4.717% stake in Guodu Securities from Chongqing International for approximately CNY 740 million on March 29, 2024. Zheshang Securities is paying CNY 2.673 per share for 275 million shares totaling CNY 735.075 million in Guodu Securities which will be financed through internal resources.

As on December 29, 2023, Zheshang Securities signed the share transfer framework agreement?s supplementary agreement with the sellers. Zheshang Securities is acquiring additional stake in Guodu Securities from Tianjin Chongxin Technology Development Co., Ltd., Chongqing Jiahong Shengxin Trading Co., Ltd., Shenzhen Yuanwei Investment Co., Ltd. and Shenzhen Zhongjun Investment Co., Ltd. in different agreements.