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huatai securities: the merger of guotai junan securities and haitong securities is expected to effectively boost the securities sector and market sentiment in the short term

2024-09-07

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according to the ai ​​express of meijing, huatai securities research report believes that guotai junan announced that it intends to absorb and merge haitong securities and issue a-shares to raise matching funds by exchanging shares with all ah shareholders of haitong securities. this merger is the first integration case between leading securities companies after the regulatory authorities have repeatedly mentioned encouraging mergers and acquisitions and building world-class investment banks. it is also the largest securities company and listed company ah bilateral market absorption merger case in history. if the transaction is completed, the total assets, net assets, and net capital of the new company are expected to become the first in the industry, and the revenue and net profit attributable to the parent company are second in the industry after citic securities. huatai securities believes that this merger is expected to accelerate the supply-side reform of the industry and promote the concentration of the industry. in the short term, it is expected to effectively boost the securities sector and market sentiment. in the medium and long term, it is still necessary to pay attention to the actual effect of the merger and integration. the sector has a large space for additional allocation, and is expected to achieve strong elasticity under the catalysis of emotions. it is recommended to pay attention to the securities companies controlled by the same shareholder.

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