Zheshang Securities(SH:601878) 和讯·2025-03-24 10:36Core Viewpoint - The acquisition of 30 million unrestricted shares of Guodu Securities by Zheshang Securities for 57.042 million yuan reflects the ongoing trend of mergers and acquisitions in the brokerage industry, driven by both policy and market factors [1][5]. Group 1: Zheshang Securities' Cost Analysis - Zheshang Securities won the auction for Guodu Securities' shares at a price of 1.9 yuan per share, which is an 11.85% premium over the closing price of 1.7 yuan on March 21 [2][4]. - The acquisition price represents a 24.57% premium over the starting price of 45.792 million yuan, indicating strong market competition for quality brokerage assets [4]. - Since initiating the acquisition plan in December 2023, Zheshang Securities has gradually built a controlling stake in Guodu Securities, with total investments amounting to 5.185 billion yuan [4]. Group 2: Acceleration of Brokerage Mergers - The acquisition of Guodu Securities by Zheshang Securities is part of a broader trend of brokerage consolidations, with several significant mergers already underway in 2025 [5]. - Regulatory support for mergers and acquisitions aims to cultivate leading investment banks and institutions, as highlighted in the 2023 Central Financial Work Conference [5]. - Analysts suggest that mergers can create synergies, leading to greater market opportunities and benefits for related companies in the capital market [5].