Gelonghui, May 14, Times Publishing (600551.SH) announced that on May 14, 2024, the company and Guolian Securities signed the “Framework Agreement on Issuance of Shares to Purchase Assets”. The company plans to sell 73,475,385 shares of Minsheng Securities to Guolian Securities and use these shares to subscribe for additional A shares issued by Guolian Securities.
Prior to this transaction, the company obtained 73,475,385 shares of Minsheng Securities through investment, and is a shareholder of Minsheng Securities; currently, the integration of the securities industry is accelerating, and the company is optimistic about the synergy between Guolian Securities and Minsheng Securities after the restructuring; as a counterparty, it sold 73,475,385 shares of Minsheng Securities by obtaining A-shares issued by Guolian Securities as transaction consideration. Through this transaction, the company's shares invested in Minsheng Securities were withdrawn by exchanging shares for Guolian Securities shares. The company is expected to continue to benefit in the future as the value increase achieved by Guolian Securities through this transaction and subsequent integration.