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Guotai Junan Securities Completes H Share Exchange, Finalizes Merger With Haitong Securities
HAITONG SEC: Maintains the PRADA "Outperform" rating with a fair value Range of 76.01-82.62 HKD.
HAITONG SEC released a Research Report stating that PRADA (01913) has shown strong performance growth since 2020, with EBIT margin reaching new highs, and the main brand maintaining a high level of popularity. The firm determines that as the effectiveness of direct stores continues to improve and the retail network is optimized and expanded, revenue scale will grow, and profitability is expected to further increase. The firm expects the net income attributable to the parent company for 2025-2027 to be 0.972/1.088/1.191 billion euros, representing year-on-year growth of 15.9%, 11.9%, and 9.5%; it assigns a PE valuation of 23-25X for 2025, converting at 1 euro = 8.7 HKD, corresponding to a reasonable price.
Latest progress on the merger and restructuring of GTJA and HAITONG SEC: the leader has been confirmed, and the new company name will be revealed soon.
GTJA and HAITONG SEC held a干部大会 to announce the personnel appointments for the newly established company, appointing Zhu Jian as the new party secretary and Li Junjie as the deputy party secretary.
GTJA: Completed the A-share share swap and proposed issuance.
GTJA (02611) announced that GTJA Securities received a custody certificate issued by China Securities Depository and Clearing Corporation Limited on March 13, 2025, which states that the A-share swap was completed on March 13, 2025. 9.655 billion shares of HAITONG SEC A held by HAITONG SEC Shareholders have been exchanged for 5.986 billion shares of GTJA A according to the swap ratio. GTJA Securities has received the custody certificate, which states that 0.626 billion shares of placement A have been issued to subscribers according to the proposed issuance on March 13, 2025.
DJ Symbol for Haitong Securities Co. Ltd. (600837.SH) Now 601211.SH
Haitong Securities Announces Share Exchange and Revised Timeline
