According to the announcement of the League of Nations Minsheng Futures, China League of Nations Futures plans to absorb and merge Minsheng Futures. 100% of Minsheng Futures's original shares held by Minsheng Securities will be converted to Guolian Futures shares, with an exchange price of 2.8739 yuan/share. Minsheng Futures shareholders have an estimated equity value of 1,433 billion yuan. Minsheng Securities received 499 million shares and 52.57% of the shares held by the League of Nations Futures. The registered capital of the League of Nations Futures increased to 949 million yuan. The controlling shareholder was changed from Guolian Group to Minsheng Securities. The company obtained control and was included in the scope of the merger. The shareholding ratios of the League of Nations Group, the League of Nations Materials, and Shanghai Haorong fell to 44.46%, 0.84%, and 2.13% respectively. Minsheng Futures will be dissolved and cancelled, and all asset liability business personnel will be taken over by League of Nations Futures.

According to the announcement of the League of Nations Minsheng Futures, China League of Nations Futures plans to absorb and merge Minsheng Futures. 100% of Minsheng Futures's original shares held by Minsheng Securities will be converted to Guolian Futures shares, with an exchange price of 2.8739 yuan/share. Minsheng Futures shareholders have an estimated equity value of 1,433 billion yuan. Minsheng Securities received 499 million shares and 52.57% of the shares held by the League of Nations Futures. The registered capital of the League of Nations Futures increased to 949 million yuan. The controlling shareholder was changed from Guolian Group to Minsheng Securities. The company obtained control and was included in the scope of the merger. The shareholding ratios of the League of Nations Group, the League of Nations Materials, and Shanghai Haorong fell to 44.46%, 0.84%, and 2.13% respectively. Minsheng Futures will be dissolved and cancelled, and all asset liability business personnel will be taken over by League of Nations Futures.