券业大并购，通过

Group 1 - The core point of the news is that Guosen Securities' acquisition of Wanhe Securities has made significant progress, with the Shenzhen Stock Exchange approving the restructuring application [1][3] - Guosen Securities plans to acquire 96.08% of Wanhe Securities through the issuance of A-shares, which has been approved by the Shenzhen Stock Exchange's merger and reorganization review committee [3][6] - The acquisition is expected to enhance Guosen Securities' overall profitability by leveraging Wanhe Securities' advantages in cross-border financial services and optimizing resource allocation [6][8] Group 2 - The merger wave in the securities industry is intensifying, with several notable mergers including "Guosen + Wanhe" and others, indicating a trend towards consolidation among brokerages [7] - The merger of Guosen and Wanhe is seen as a strategic move to optimize the integration of brokerage licenses and resources within local state-owned enterprises [7][8] - The combined total assets of Guosen Securities and Wanhe Securities will reach approximately 476.12 billion yuan, potentially placing them among the top ten securities firms in China [8]