国联民生证券竞得民生证券8154.3万股股份

Core Viewpoint - Guolian Minsheng Securities has acquired 81.543 million shares of Minsheng Securities, representing 0.72% of its total share capital, through judicial auction for 171 million yuan, increasing its ownership from 99.26% to 99.98% [2][5][6] Group 1: Acquisition Details - The acquisition was completed on November 12, with Guolian Minsheng Securities receiving a transaction confirmation [2] - The transaction is pending the completion of share transfer procedures [5] - This acquisition is part of a long-term strategy to consolidate ownership of Minsheng Securities [5] Group 2: Background on Guolian Minsheng Securities - Guolian Securities' controlling shareholder, Guolian Group, previously acquired 3.471 billion shares of Minsheng Securities, amounting to 30.3% of its equity, for 9.105 billion yuan in March 2023 [5] - In December 2023, Guolian Securities completed the transfer of 99.26% of Minsheng Securities shares, marking a significant step in the consolidation process [5] Group 3: Context of the Seller - The seller, Pan Hai Holdings, is facing a severe debt crisis, leading to the auction of its shares in Minsheng Securities [6][8] - Pan Hai Holdings reported a net loss of 6.758 billion yuan in Q3 2025, with total assets of 51.532 billion yuan and a net asset deficit of 48.861 billion yuan [8] - As of October 31, 2025, Pan Hai Holdings had unpaid interest-bearing debts totaling 34.159 billion yuan, exacerbated by macroeconomic conditions and operational challenges [8]