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12: Report on the Sale of Guotai Junan Shares
Document No. 12 for the 2023 Annual General Meeting
Report on the Sale of Guotai Junan Shares
Dear Shareholders:
Over the past year and more, due to factors such as Guotai Junan’s stock performance and trading volume, the company’s management has faced increasing challenges in disposing of its Guotai Junan shares and currently still holds 10,910,008 shares. The authorization granted at the company’s 2022 Annual General Meeting to sell all Guotai Junan shares at an appropriate time before June 30, 2024, is now nearing expiration.
To allocate resources rationally and effectively, optimize the asset structure, and reduce volatility in non-recurring profits, the company intends to By December 31, 2026, the entire holding shall be sold opportunistically through the securities trading system of the Shanghai Stock Exchange. CITIC Securities shares. The net proceeds will be primarily used to replenish working capital or repay bank loans. Specific matters shall be handled by the company’s management as authorized.
If a loss occurs ( Selling price Below (As of the closing price on December 31, 2023, RMB 14.88 per share), the company will not forcibly sell.
The above report is submitted for your review.
2024 5 month 23 day