Guotai Haitong Securities
Corporate brand
UnclaimedA large Chinese comprehensive securities firm formed through the combination of Guotai Junan Securities and Haitong Securities.
Last updated October 9, 2026
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Overview
Guotai Haitong Securities is a Chinese comprehensive securities company operating across brokerage, investment banking, asset management, securities research, futures, proprietary investment and related financial services. The present brand emerged in 2025 after Guotai Junan Securities completed its acquisition of Haitong Securities, creating what the company and reference coverage describe as China's largest securities brokerage by asset value. Its principal base is Shanghai, and its activities extend across mainland China and selected international markets through subsidiaries and overseas operations. The company's institutional roots predate the Guotai Haitong name. Guotai Securities was founded in 1992, while Junan Securities was also established in 1992. Those two businesses merged on 18 August 1999 to establish Guotai Junan Securities, which became the principal predecessor of the current organization. The predecessor expanded from domestic securities dealing into a broader financial-services platform, obtaining authorization for Qualified Foreign Institutional Investor business in 2003, Qualified Domestic Institutional Investor business in 2007 and investment-banking business in 2008. International expansion was supported in part by Guotai Junan International Holdings, a Hong Kong-listed subsidiary. That subsidiary was listed on the Hong Kong Stock Exchange in 2010 and was later included in the financial constituent stocks of the Hang Seng Composite Index in March 2011. Other businesses associated with the predecessor group included a futures company, an asset-management subsidiary, an innovation-investment company and a fund-management joint venture. The current identity reflects the strategic and corporate combination with Haitong Securities. The acquisition process began in September 2024, and the Guotai Junan brand was rebranded as Guotai Haitong in 2025. The resulting organization combines the distribution network, capital-markets capabilities and financial-services portfolios of the two large Chinese brokerages. Its business scope is therefore broader than retail securities trading alone: it serves individual investors, institutional clients, corporate issuers, investment funds and other financial-market participants. Guotai Haitong's positioning is that of a full-service Chinese investment bank and securities house rather than a specialist product brand. Core services include securities brokerage, investment banking, securities underwriting, corporate-finance advisory, asset management, research, securities lending and margin financing, futures-related services and investment activities. Specific product availability, legal entities and regulatory permissions vary by subsidiary and jurisdiction. As a newly rebranded post-merger group, its long-term operating structure, governance arrangements and market positioning remain developments to be followed through company disclosures and regulatory filings.
History
Guotai Haitong Securities is the result of a major consolidation in China's securities industry. Its immediate predecessor, Guotai Junan Securities, was created on 18 August 1999 through the merger of Guotai Securities and Junan Securities. Both predecessor firms had been established in 1992: Guotai Securities on 10 September and Junan Securities on 25 August. The 1999 merger created a broader securities platform capable of serving retail investors, corporate clients and institutional investors. During the 2000s, the predecessor expanded its regulatory permissions and product range. It received authorization to conduct Qualified Foreign Institutional Investor business in 2003, enabling participation in services connected with overseas institutional investment into China. In 2007 it obtained Qualified Domestic Institutional Investor status, supporting domestic investors' access to approved overseas investment products. In 2008 it gained investment-banking qualification, strengthening its role in underwriting and corporate-finance activities. The group also developed an international presence through Guotai Junan International Holdings. The subsidiary was listed on the Hong Kong Stock Exchange in 2010. In March 2011, it was included among the financial constituent stocks of the Hang Seng Composite Index, reflecting its position within Hong Kong's listed financial-services market. The wider predecessor group maintained or developed specialist businesses in futures, asset management, innovation investment and fund management, including Guotai Junan Futures, Shanghai Guotai Junan Securities Asset Management, GTJA Innovation Investment and Guotai Junan Allianz Fund Management. A new phase began in September 2024 when Guotai Junan started acquiring Haitong Securities. The transaction brought together two major Chinese brokerages and was followed by the adoption of the Guotai Haitong name in 2025. The rebranding marks the formation of a larger combined securities group whose activities span brokerage, investment banking, asset management, research, futures and international services. Because the Guotai Haitong identity is recent, detailed information about its post-combination management structure, subsidiary alignment and long-term strategy should be checked against subsequent company announcements and regulatory filings.
- 2025
Guotai Haitong Securities brand introduced
[1]Following the Haitong Securities acquisition, Guotai Junan was rebranded as Guotai Haitong Securities.
- 2024
Acquisition of Haitong Securities begins
[1]Guotai Junan began the acquisition process for Haitong Securities in September.
- 2011
International subsidiary enters Hang Seng Composite financial constituents
[1]In March, Guotai Junan International Holdings was included in the financial constituent stocks of the Hang Seng Composite Index.
- 2010
Guotai Junan International Holdings listed in Hong Kong
[1]Guotai Junan International Holdings, an associated overseas subsidiary, was listed on the Hong Kong Stock Exchange.
- 2008
Investment-banking qualification obtained
[1]The predecessor obtained qualification to conduct investment-banking business.
- 2007
QDII qualification obtained
[1]The group was granted Qualified Domestic Institutional Investor status.
- 2003
QFII qualification obtained
[1]The predecessor group received authorization to conduct Qualified Foreign Institutional Investor business.
- 1999
Guotai Junan Securities formed
[1]Guotai Securities and Junan Securities merged on 18 August to establish Guotai Junan Securities.
- 1992
Guotai Securities established
[1]Guotai Securities, one of the predecessor businesses of Guotai Junan and ultimately Guotai Haitong, was founded on 10 September.
- 1992
Junan Securities established
[1]Junan Securities, the other principal predecessor in the 1999 combination, was founded on 25 August.
Products and positioning
A leading Chinese full-service securities and investment-banking group with domestic scale and international-market capabilities.
Brokerage
Securities brokerage
The group's brokerage business serves investors in securities markets and forms one of its core operating activities. The combined organization inherited extensive brokerage capabilities from both Guotai Junan and Haitong, although the precise structure of customer platforms and legal entities may evolve after the merger.
Capital markets · 2008
Investment banking
Investment banking includes capital-markets and corporate-finance activities for issuers and other corporate clients. The Guotai Junan predecessor obtained investment-banking qualification in 2008, adding underwriting and related advisory capabilities to its earlier brokerage and institutional businesses.
Asset management
Asset management
Asset-management activities provide investment-management services and products for individual and institutional clients. The predecessor group operated Shanghai Guotai Junan Securities Asset Management, while the post-merger product range and operating arrangements remain subject to company and regulatory disclosures.
Research
Securities research
Research is part of the group's full-service securities offering and supports institutional clients, investment activity and capital-markets work. Coverage, products and distribution channels may be provided through different group entities.
Futures and derivatives
Futures services
Futures-related services are provided through the group's futures operations, including the predecessor Guotai Junan Futures business. These activities complement securities brokerage and investment services, subject to the permissions applicable to each regulated entity.
International finance · 2003
International securities services
The group has international-market capabilities supported by overseas operations and Guotai Junan International Holdings, which was listed in Hong Kong in 2010. Earlier QFII and QDII qualifications also supported cross-border investment services.
Controversies
2020
Haitong-related businesses placed under investigation after Yongmei bond default
After the Yongmei bond default in 2020, Haitong-related businesses underwent a self-regulatory investigation; the company subsequently conducted a self-examination and imposed warnings, circulated criticisms, and financial penalties on relevant responsible persons in its bond financing, fixed income, asset management, and futures departments. This occurred during the former Haitong stage before the establishment of Guotai Haitong, and the self-regulatory investigation is not regarded as a criminal conviction of the company.
Brand decisions
2025
Adopt the Guotai Haitong brandStrategyBackground
The acquisition of Haitong Securities required a new identity for the combined organization.
Action taken
Guotai Junan was rebranded as Guotai Haitong Securities.
Aftermath
The new brand represents the combined group's expanded securities-brokerage, investment-banking, asset-management, research and related financial-services platform.
2024
Acquire Haitong SecuritiesM&ABackground
Guotai Junan pursued a combination with Haitong Securities in the context of consolidation among major Chinese securities firms.
Action taken
The acquisition process began in September 2024 and ultimately led to the Guotai Haitong identity.
Aftermath
The combination created a larger comprehensive securities group and was followed by the 2025 rebranding of Guotai Junan as Guotai Haitong Securities.
Recent events
- Unconfirmed
Guotai Haitong reports third-quarter results[3]
Guotai Haitong reported revenue of 11.81 billion yuan and net profit of 4.63 billion yuan for the third quarter, down 46.4% and 27.0% year over year, respectively. Its first-three-quarter revenue was 58.98 billion yuan and attributable net profit was 24.89 billion yuan, up 28.5% and 12.7% year over year, respectively.
New China Life Insurance raises stake in Guotai Haitong H-shares to 20.24%, triggering stake-disclosure filing[4]
New China Life Insurance (新华保险) announced on October 9 that on September 29, 2026 it purchased 9.9596 million H-shares of Guotai Haitong (02611.HK) through centralized bidding on the secondary market, equal to about 0.28% of Guotai Haitong's issued H-shares. The change triggered the stake-disclosure (jupai) threshold, lifting the combined holding of New China Life Insurance and its concert parties from about 19.96% (roughly 700 million shares) to 20.24% (about 710 million shares), and the company said it plans to manage the Guotai Haitong investment under equity-class investment management.
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