League of Nations Minsheng (01456): League of Nations Futures plans to exchange shares to absorb and merge Minsheng Futures

Zhitong Finance App News, Guolian Minsheng (01456) announced that on November 4, 2026, after review by the board of directors, Guolian Futures, Minsheng Futures and Minsheng Securities signed an absorption and merger agreement. According to the “Approval on Agreeing to Issue Shares by Guolian Securities Co., Ltd. to Purchase Assets and Raise Supporting Funds, and Approving the Change of Major Shareholders, Minsheng Fund Management Co., Ltd. and Minsheng Futures Co., Ltd., and Minsheng Futures Co., Ltd.” (Securities Regulatory License [2024] No. 1911) on the integration work requirements of the League of Nations Futures and Minsheng Futures, in order to effectively resolve peer competition, Guolian Futures plans to absorb and merge Minsheng Futures, that is, 100% of Minsheng Futures's original shares held by Minsheng Securities to be converted to Guolian Futures Shares and League of Nations Futures simultaneously absorbed and merged with Minsheng Futures.

After the transaction is completed, the controlling shareholder of Guolian Futures was changed from Guolian Group to Minsheng Securities. The company will include Guolian Futures in the scope of the merger in accordance with the relevant provisions of accounting standards. The share exchange price and number of stock exchanges in this transaction were determined based on the results of the evaluation of the League of Nations Futures and Minsheng Futures after evaluation by the evaluation agency. After the transaction was completed, the merger, Guolian Futures, continued to exist and inherited all assets, liabilities, business, personnel, contracts, qualifications and all other rights and obligations of Minsheng Futures. The merged party, Minsheng Futures, was dissolved and its legal personality revoked in accordance with the law, and its branch was changed to a branch of the League of Nations Futures.

After the transaction is completed, the registered capital of the League of Nations Futures will increase accordingly to about 949 million yuan, of which Minsheng Securities holds about 499 million shares, accounting for 52.57%; the original shareholders of the League of Nations Futures, the number of shares held by the original shareholders of the League of Nations, China Federation Materials, and Shanghai Haorong will not change, and the shareholding ratios will drop to 44.46%, 0.84%, and 2.13% respectively.

As of September 30, 2026, the assessed value of the total equity of Guolian Futures shareholders was approximately $1,293 million. Based on this, it was determined that the consolidated share exchange price was 2.8739 yuan/share. The assessed value of the total equity of Minsheng Futures shareholders is approximately RMB 1,433 billion. Based on this calculation, after the completion of this merger, Minsheng Securities, the original shareholder of Minsheng Futures, obtained about 499 million shares of the League of Nations Futures.