On August 9th, Gelunhui reported that Shanghai Zhangjiang Hi-tech Park Development (600895.SH) invested 0.1 billion yuan in 2020 to acquire 73,475,386 shares of Minsheng Securities Co., Ltd. The company will sign the Agreement on Purchase of Newly-Issued Shares of Minsheng Securities Co., Ltd. with Guolian Securities Co., Ltd., and subscribe to its newly issued A-share shares with the shares of Minsheng Securities Co., Ltd. held by the company at a price. After the completion of this transaction, the company can acquire 17,184,544 shares of Guolian Securities Co., Ltd.
As the controlling shareholder of the company, Shanghai Zhangjiang (Group) Co., Ltd. will also subscribe to the newly issued A-share shares of Guolian Securities at a price based on the shares of Minsheng Securities Co., Ltd. held, therefore, this transaction constitutes a related party transaction.