by Guosen Securities Co., Ltd. (hereinafter referred to as "Guosen Securities", stock code: 002736.SZ) through the issuance of shares (hereinafter referred to as "this transaction") has been successfully completed, and the newly issued shares in this transaction were listed on the Shenzhen Stock Exchange today.

Guosen Securities is a large-scale, comprehensive securities company established in June 1994. It completed its initial public offering (IPO) and listed on the Shenzhen Stock Exchange in December 2014. Its controlling shareholder is Shenzhen Investment Holdings Co., Ltd., and its actual controller is the State-owned Assets Supervision and Administration Commission of Shenzhen Municipal People's Government. As of the end of 2024, its total assets were RMB 501.506 billion, and its net assets were RMB 118.692 billion.

In this transaction, Guosen Securities acquired a 96.08% stake in Vanho Securities from seven counterparties, including Shenzhen Capital Operation Group Co., Ltd., through the issuance of A-shares , for a total consideration of approximately RMB 5.192 billion. Upon completion of the transaction, Vanho Securities became a controlling subsidiary of Guosen Securities.

This transaction aims to implement the decisions and plans of the Central Financial Work Conference, cultivate first-class investment banks and institutions, and help large state-owned financial institutions to become stronger and better . Simultaneously, it leverages the policy advantages of the Hainan Free Trade Port to promote Guosen Securities' internationalization strategy. Vanho Securities is registered in Hainan, and the Hainan Free Trade Port possesses institutional advantages such as early implementation of financial reform and innovation policies and the opening-up of the financial industry. After acquiring Vanho Securities, Guosen Securities can fully utilize local policy advantages and the existing business resources of both parties to transform Vanho Securities into a regionally distinctive securities firm with a leading position in specific business areas such as cross-border asset management within the Hainan Free Trade Port, achieving rapid development of the listed company's international business and financial innovation businesses.

Tian Yuan served as legal counsel to Guosen Securities, participating deeply in the entire transaction process. In accordance with relevant laws and regulations and the requirements of state-owned assets and financial supervision, Tian Yuan provided legal due diligence, transaction negotiation, drafting and signing of transaction agreements, assistance in completing the application procedures of state-owned assets and financial supervision departments, assistance in fulfilling information disclosure and project delivery, and other full-process legal services. Tian Yuan also assisted in resolving difficult and complex issues during the project process, providing legal protection for the smooth completion of the transaction.

The main partners in charge of this project are lawyers Zhi Yi and Ao Huafang, and the project team members also include lawyers Zheng Xiaoxin and Zeng Xueying.