Huachuang Securities: The merger of Guotai Junan and Haitong is expected to open up the integration space of leading securities firms such as CICC

On September 6th, Huachuang Securities said that if Guotai Junan and Haitong Securities merge, the total assets and net assets will rank first in the industry. If the merger goes well, the imaginative space of the merger of leading high-quality securities firms such as CICC and Galaxy, Jiantou and CITIC is expected to be further opened. The report pointed out that if Guojun and Haitong merge, based on the data of the 2023 annual report, the combined total assets and net assets will reach 1.68 trillion yuan and 330.20 billion yuan respectively. For Haitong Securities, potential business concerns are resolved, and the acquisition price is good if it is appropriate. For Guotai Junan, the combined securities business is larger, which has some advantages for financing costs and business expansion and strengthening.